American Missive

Posted in Current Events, Economy, Politics | Tagged Barack Obama, Economic collapse, Federal Deficit, Herbert Hoover, Missives, Obama Will Cause Inflation, Obamaflation, Quantitative Easing, Reaganomics, Ronald Reagan, Stephen VanNuys, Unemployment, Warren Harding, Worst President Ever | 7 Comments

7 Responses

1. on May 18, 2009 at 9:53 am | Reply Freedom Thinker

   Look forward to your return.

   
   
2. on May 18, 2009 at 11:54 am | Reply BaldManMoody

   You will be missed. Like a sore big toe. Just kidding. Why are we both so busy right now? What happened to busy season? I thought things died down eventually. In particular, I thought cutbacks with SOX were supposed to help too. Oh well. Yay.

   
   
3. on May 18, 2009 at 12:08 pm | Reply Stephen VanNuys

   I’ll be checking comments, just not writing missives. No matter how hard I try, writing a missive generally takes me about 30 – 40 minutes. Typing it, editing it, finding a good picture- and then going back and rereading just to make sure it doesn’t sound too foolish. I can usually do that b/w my wife leaving for work and then me leaving for work- but now am having to get to work early myself.

   Am on my lunch break, so have a moment to type.

   Yeah, BMM, the schedule is tough. For me, it is b/c we have let some folks go and I’ve picked up more of a workload. I’m sure that’s true elsewhere.

   It is also b/c softball has started up and I am volunteering now on Weds night’s at this homelessness prevention program. I’ve been now twice and it is a really neat experience.

   Anyway- gotta run.

   
   
4. on May 18, 2009 at 1:40 pm | Reply Freedom Thinker

   I’ve heard of other accounting firms letting people go as well. I thought accounting was supposed to be “recession proof”.

   
   
5. on May 18, 2009 at 1:51 pm | Reply BaldManMoody

   Don’t see how that possibly is the case. They just try to drive more chargability and utilization with fewer numbers. In my times at the Big Four, the Boston office (different than the Atlanta office) of my firm was not adequately staffed and could not pitch work as it would become available. Hence the reason that the Boston office suffered when compared to other Big Four firms.

   Our firm is running at roughly 120% utilization for the year still, which is kind of funny considering the downturn was used as rationale for why raises weren’t as good this year (albeit signfiicantly better than other companies, which were demoting or firing altogether). Alas, times are tough so you don’t push too hard. The hope would be that things go better at this year-end.

   What we are finding is that many companies are needing a bench to handle any transaction or difficult technical accounting matter that they have reduced in-house staffing for. Additionally, they are cutting permanent G&A costs in favor of staff augmentation for quarter-ends. Leads to long hours for consultants and probably increases risks.

   G&A is always the first thing to ever get cut though in my experience. Never a fun place to be. When you consider it, America is becoming the G&A on the globalized company P&L. At least in high-tech and tech manufacturing from my experience.

   I have heard that the latest rash of Big Four layoffs (here in Boston) are no longer performance related, but just due to cost balancing to get to the required profit measures. Some folks that were up for Partner or were recently made Partner have basically been asked to take demotion to Director from what I hear.

   Tough times. I am not convinced in any way that we are emerging from the current quagmire anytime soon, but I am pretty negative.

   
   
6. on May 22, 2009 at 10:19 pm | Reply TennesseePaul

   You know, just because Mr. VanNuys is lazy doesn’t mean the Missive is shutting down…

   Just sayin’

   
   
7. on May 25, 2009 at 12:06 am | Reply Freedom Thinker

   I hear you. You’re lucky to have a team member. It’s hard going it alone and trying to keep up the production. You really have to make an effort to keep things active.

   I almost wish I’d done something more plural as TheFreedomThinker.com is kind of singular.