PSA: Never Work For a Company With 3 Generations of Ownership

[BoberFett]

good or bad. CEO's get the golden parachute while your average working making 1000x less gets 6 months of unemployment and months of job interviews.

Stop spouting stupid bullshit.

The average CEO does not make 1000x what the average employee does.

You do realize there are more companies out there than Fortune 500 companies right?

There are hundreds of thousands of CEOs, most of them don't make billions.

Pull your head out of your ass.

 

[Linux23]

Stop spouting stupid bullshit.

The average CEO does not make 1000x what the average employee does.

You do realize there are more companies out there than Fortune 500 companies right?

There are hundreds of thousands of CEOs, most of them don't make billions.

Pull your head out of your ass.

In case you couldn't tell, I was exaggerating.

It's funny that the only thing that processed in that feeble brain of yours is the 1000x figure. I'm wondering if you can walk and chew gum at the same time?

 

[xeemzor]

Well, the update this week is that they finally pushed back the go-live by at least two months. The vast majority of the project team made no progress on their tasks because they refused to take any ownership. Resources with 2 years of experience on the project claim that they can't do the most basic of tasks. They then, of course, complained that the consultants did not do a good enough job training them. Management, predictably, did nothing.

The remaining competent people don't plan on staying because they don't see the project ever ending. It is expected that most will put in their notice next month or so. Of course the company hugely increased profits this year so they will continue to pay our stupidly high fees. Yay consulting.

 

[xeemzor]

Hah, another gem out of the CEO this week. He emailed the 29 year old single controller about how she needs to procreate in order to be happy. He is also a doomsday prepper and goes around the the IT team handing out conspiracy theory books. Often times he'll follow up with questions later on so the department has to read his nonsense or look bad. Yes, he makes the consultants do this crap as well. Thankfully I can still charge him my hourly rate while reading his crazy books. No joke, I probably have ~10-15 hours marked for book reading.

The company's cash management position is insane because the CEO refuses to take on debt or invest in the stock market. He forces the company to randomly buy huge amounts of gold and silver to "invest" the excess capital. Most of the time these positions lose a huge amount of money but he refuses to listen to any advise on how to invest excess capital. This is only one of many crazy financial decisions that he had made. To cover all of them would be another 3-5 paragraphs.

The CFO has pretty much been on cruise control. She leaves at 2:30 everyday and is totally un-involved with the entire project. Usually you would expect someone managing a company of this size to work long hours, especially on such a critical project, but nope Of course she delegates everything and is full of insane, unrealistic expectations.

I wonder what it's like to work at a company that doesn't totally fail at everything.

 

[Ichinisan]

Hah, another gem out of the CEO this week. He emailed the 29 year old single controller about how she needs to procreate in order to be happy. He is also a doomsday prepper and goes around the the IT team handing out conspiracy theory books. Often times he'll follow up with questions later on so the department has to read his nonsense or look bad. Yes, he makes the consultants do this crap as well. Thankfully I can still charge him my hourly rate while reading his crazy books. No joke, I probably have ~10-15 hours marked for book reading.

The company's cash management position is insane because the CEO refuses to take on debt or invest in the stock market. He forces the company to randomly buy huge amounts of gold and silver to "invest" the excess capital. Most of the time these positions lose a huge amount of money but he refuses to listen to any advise on how to invest excess capital. This is only one of many crazy financial decisions that he had made. To cover all of them would be another 3-5 paragraphs.

The CFO has pretty much been on cruise control. She leaves at 2:30 everyday and is totally un-involved with the entire project. Usually you would expect someone managing a company of this size to work long hours, especially on such a critical project, but nope Of course she delegates everything and is full of insane, unrealistic expectations.

I wonder what it's like to work at a company that doesn't totally fail at everything.

D: D: D:

:awe:

 

[kranky]

That's an awesome update. Keep them coming.

 

[Vdubchaos]

Based on what I've seen, the more wealth and money one acquires the more delusional and out of their mind they become.

 

[xeemzor]

That's an awesome update. Keep them coming.

Since you are also an accountant I can give you an idea of how much they suck from a financial management perspective. Their days sales outstanding(accounts receivable turnover) is 100+ days in an industry where the average is ~45 days. Lead times are also regularly 15 months behind schedule.

The CEO is a crazy about buying and expensive capital equipment to avoid taxes. The average age of their machines any given machine is ~5 years, which is insanely wasteful in most manufacturing environments. Additionally, when the controller explained how the company couldn't expense a $200K machine he bullied the local CPA into allowing it.

The only reason they got an ERP system in the first place was because they failed an IRS audit. The IRS was going to fine them a huge amount of money if they didn't put one in place. They chose to implement an ERP system designed for much smaller, less complex companies with minimal inventory. During the current ERP implementation the primary directive is to not change any processes or at all. Instead, they want us to customize the much better new ERP system to match the older crappy one. As you might guess, this mindset has caused the project to become a disaster. It's like buying a BMW and then slashing the tires, busting out the front windows, denting the hood, and ripping off the driver's side door.

 

[Ns1]

That's just really sad and professionally depressing.

 

[ctbaars]

Sounds like the company makes a lot of money.
If I was the boss and knew you wrote this stuff, I would ask you to stop. I think it's a little unprofessional.

Actually, no. It sound like, based on your descriptions, you're a perfect fit for this company. I shouldn't even be on this board myself.

 

[holden j caufield]

actually never work IT for your family's company. Especially when you come in as an emergency when someone else quit. You end up working 80 hour weeks, getting talked to unlike a regular employee, you get called at all hours for things that are and aren't IT related. There are better and easier ways to make a buck.

 

[maddogchen]

you should be happy, keep on milking them!

 

[Phokus]

"The ability to get ahead in an organization is simply another talent, like the ability to play chess, paint pictures, do coronary bypass operations or pick pockets. There are some people who are extraordinarily good at manipulating- organizations to serve their own ends. The Russians, who have suffered under such people for centuries, have a name for them-- apparatchiks."

Empire of the Rising Scum

I see ATOT is finally learning about how business really works.

Engineers/Scientists/Designers/Coders/etc. are value creators in an organization

CEO's transfer value from others to themselves

The only people who really deserve big paydays are founders of startups, but sociopaths who just know how to navigate an already established company to take and take and take are what's wrong with capitalism.

 

[xeemzor]

you should be happy, keep on milking them!

Unfortunately I'm paid a salary and not hourly

 

[Vdubchaos]

I see ATOT is finally learning about how business really works.

Engineers/Scientists/Designers/Coders/etc. are value creators in an organization

CEO's transfer value from others to themselves

The only people who really deserve big paydays are founders of startups, but sociopaths who just know how to navigate an already established company to take and take and take are what's wrong with capitalism.

Ding ding ding

 

[Muse]

Yup, I'd say it's a no brainer.

 

[clamum]

I worked for a software company with a shit CEO, quarter after quarter of losses. He gets canned.

He then weasels his way onto the board, the one that just fired him, and gets all his buddies elected. They make him CEO again.

1 year later, total bankruptcy.

Bahahahaha. WOW. Brilliant!

Hah, another gem out of the CEO this week. He emailed the 29 year old single controller about how she needs to procreate in order to be happy. He is also a doomsday prepper and goes around the the IT team handing out conspiracy theory books. Often times he'll follow up with questions later on so the department has to read his nonsense or look bad. Yes, he makes the consultants do this crap as well. Thankfully I can still charge him my hourly rate while reading his crazy books. No joke, I probably have ~10-15 hours marked for book reading.

Oh man, this guy is great. Keep up with the stories!

Also, 29 year old single blahblahblah pics?

 

[GlacierFreeze]

He is also a doomsday prepper and goes around the the IT team handing out conspiracy theory books. Often times he'll follow up with questions later on so the department has to read his nonsense or look bad.

What if no one answers any of those questions? Will he have a fit of rage and an aneurysm? What a douche.

 

[xeemzor]

What if no one answers any of those questions? Will he have a fit of rage and an aneurysm? What a douche.

Then you aren't part of the good old boys club. Less likely to get promoted, smaller pay raises, work harassment, etc. I have heard that he has fired quite a few great workers because they didn't play by his rules.

 

[IHateMyJob2004]

Can you tell us what industry this guy is in? Some sort of manufacturing. But manufacturing what?

Private company, correct?

 

[xeemzor]

Can you tell us what industry this guy is in? Some sort of manufacturing. But manufacturing what?

Private company, correct?

Specialty manufacturing with little to no domestic competition.

Of course it's not public with all the shenanigans. People would in handcuffs long before now.

 

[darkswordsman17]

Sounds like the company makes a lot of money.
If I was the boss and knew you wrote this stuff, I would ask you to stop. I think it's a little unprofessional.

Actually, no. It sound like, based on your descriptions, you're a perfect fit for this company. I shouldn't even be on this board myself.

I'm guessing if the boss knew he'd fire him. Unprofessional? His boss is full on fucking crazy.

I don't even know what you're babbling about with the rest or your sig.

 

[xeemzor]

Well the update this week is pretty crazy. I found out that the company isn't just buying rights to gold and silver but they are actually buying physical gold and silver. There is a vault underneath the manufacturing plants that has millions of dollars of precious metals. They also have ~200 guns in the vault "just in case". Any employee can request a gun for "security" and the company will hand it out for free.

They also plan on redoing the parking lot and all female employees will get assigned parking. I have no clue why they aren't doing it for the males but it's incredibly sexist and discriminatory. It's only a matter of time until they get sued by someone for being stupid.

 

[kranky]

If the employees know about the vault, I predict an theft attempt within a year. There's too much money at stake for someone not to try. I'm not saying having precious metals is a terrible idea, but come on, implement some fundamental security such as keeping the location a secret.

I assume the assigned parking idea is based on providing better security for the female employees?

 

[ultimatebob]

Well the update this week is pretty crazy. I found out that the company isn't just buying rights to gold and silver but they are actually buying physical gold and silver. There is a vault underneath the manufacturing plants that has millions of dollars of precious metals. They also have ~200 guns in the vault "just in case". Any employee can request a gun for "security" and the company will hand it out for free.

They also plan on redoing the parking lot and all female employees will get assigned parking. I have no clue why they aren't doing it for the males but it's incredibly sexist and discriminatory. It's only a matter of time until they get sued by someone for being stupid.

Does that deal also apply to contractors? If so, I would want to take out an AR-15 to shoot over the weekend