It can be said that desperation yields more desperation .   If one needs proof or reassurance of this one only needs to look at targeted ads , want ads and blogs.  Generally if there is not a market for a good or service it will die out.  The lessons will be learned at some point and this or that type of ad or promotion will die off.

For each ad or promotion there is generally a chosen group or groups of buyers or purchasers.

Remember at one point not long ago the norm of management gurus was to speak of the coming 4 day week.  Its only government civil servants who seem to have the wonder of a four day work week.

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In terms of a job or workplace environment being or becoming hazardous to a worker’s health somehow and many times the numbers do not belay or betray the full set , width and extent of dangers.

Figures do not lie “but liars figger”.  Look at poor Bernie Madoff as an example.  There is a case in point if one could ever be made of how numbers, figures , data and statistics are get confused and misused in the hands of ” experts” or more rightly described downright criminals.  Its not as if the financial industry is full of the most ethical people as well.  It can be justly said that most in the “financial “  or “securities”  have zero ( or little) conscious in any manner.   Its similar to the government official who comes to visit you ( or phones ) with the introduction ” I’m from the government I am here to help you”.

The problem becomes that most people are trusting.  At the worst they trust the data and information which they are given from alleged credible sources.  On top of that these industries are supposed to be tightly controlled and regulated by the agent of society – in this the government body the  The Securities and Exchange Commission (SEC).  After all if you got a phone call late one night from an individual who claimed , and was supported by a caller id number. that they were calling from the I.R.S. would you not beleive them and take them most seriosuly.

Such is the abuse of power , whether from management types , a governmental agent or Mr. Madoff .

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Even as you read this there are four hundred fifty families , at the least , in the United States who are mourning a loved one who was accidentally killed on the job last month.  You have to ask yourself was did this person even enjoy their job or were they simply a walking piece of meat who happened to be the breadwinner of their family ?

If one goes back to older statistics as a reference point the National Institute of Occupational Health stated in its stats that from 1980 to 1984 , mining ranked as the most dangerous occupation of its time with thirty fatalities per year for each 100,000 workers. Construction came in second with twenty three deaths for each 100,000 workers.  Interestingly what a person would think would be the most dangerous field of all – explosives and dynamite production turns out to be the one of the safest.   Why is that so ?  Its because the field is just so dangerous , one spark , one little mistake can have big ramifications.   As a result all rules and procedures are followed to the rule and letter if not beyond.  Hence what could well be , and should be the most dangerous of occupational and industry fields turns out to be among the safest.

Should not this be a model to take great note of.  If this safety record and its safety record ramifications were fully appreciated and understood , and lessons of its practice and results followed and applied would it not be that many of the stats noted above would be vetoed if not eliminated or negated.  So much for the powers and comprehensions of management and advanced management skills.  “There are those who think ideas and those who follow them”.

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Financial Week reports that “according to a study to be released [in October] by executive recruiter Crist Kolder Associates, roughly half of the CFOs at Fortune 500 and S&P 500 companies stay in their posts for less than three years.”  This equates to the average tenure of an NFL running back.  Before you get too impressed, the article goes on to say that ”the study found the average tenure for CFOs at all big companies slipped to under five years, about a year less than in 2006.”

Since I don’t have access to the study, I can’t reconcile these two claims and don’t understand the distinction between Fortune 500/S&P 500 and “all big companies”.  I can think of two potential explanations.  Perhaps CFOs at the 500 largest public companies have shorter tenures than other large public and private companies.  Alternately, there could be a marked difference between the average and the median value of CFO tenure, suggesting that some CFOs have lasted a very long time and others only briefly.  If anyone at Crist Kolder is reading this, please send me the study or drop me an email with the explanation.

In searching for an answer online, I found that there isn’t much consistency to CFO tenure figures.  Most articles claimed a number in range of 3-5 years, often saying it was down from 7-10 years in the late 90’s.  This article quoted a Liberum Research report that the average CFO tenure in 2007 was only 28 months.  Amazingly, the same article claims that more than 2,300 CFOs left their jobs in 2007.

By way of comparison,  the average tenure for a CIO is 4 years and 5 months (source CIO magazine) and for a CEO is 6 years (source Strategy+Business).

Regardless of the actual average tenure, it’s interesting to note that a McKinsey & Co. study (Bertil E. Chappuis, Aimee Kim, and Paul J. Roche, “Starting up as CFO,” McKinsey Quarterly, March 2008) showed many CFOs are spending not enough time on business strategy and perhaps too much time on internal financial operations – especially early on in their tenure.  This disconnect might help explain some CFOs short tenure.

Note to CFOs everywhere: You may want to consider the difference between strategy and planning.

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Did you get fleeced by Bernard Madoff? Or did you buy that Madoff Securities fleece jacket on eBay?

Madoff, who was arrested last month after allegedly telling investigators he lost as much as $50 billion of investors’ money in a giant Ponzi scheme, promoted his firm by putting its name on everything from T-shirts to beach towels, tote bags and umbrellas.

Dozens of the keepsakes are now being sold on eBay.

Some of the sellers say they’re former clients and employees. Others, like John Mitchell, hawked a cigar humidor bearing Madoff’s name.

“I find these things and then I resell them,” Mitchell, of Fox Grove, Ill., said Sunday. He said he bought the humidor from the manufacturer before it ever made it to Madoff’s firm.

Mitchell said he also sold Lehman Brothers items after the firm declared bankruptcy in September.

“People are buying that stuff,” he said. “It’s sad, but it’s still humorous.”

Other Madoff items for sale on eBay include insulated coolers, binoculars, golf caps and flashlights. Several eBay postings are prodding buyers to “own a piece of history!”

The Madoff name wasn’t fetching top dollar on the Internet. Bidding for many items didn’t rise above $50.

Eleven bidders were hoping to take home a fleece jacket, size L, on Sunday; the highest bidder had offered $147.59.

A seller put a Madoff Securities promotional backpack up for sale, writing, “These are the same ones that Bernie used to haul off all the loot!”

Another seller said simply, “A family member used the services of Bernard L. Madoff Securities in New York and was given this beach towel.”

Also up for bid was a photocopy of a financial statement Madoff put out for a client, postmarked Dec. 3, a week before his Dec. 11 arrest.

The seller, from Glen Cove, N.Y., said the actual document may be put up for sale later.

http://www.google.com/hostednews/ap/article/ALeqM5gst5D7j3t_vJyzaDfosiz_pcwLZAD95GIKGG0

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The Auto Industry Management Abuses – UAW Golf Course Issue Visited Again

Michelle Malkin

http://michellemalkin.com/

Nero fiddled while Rome burned. The UAW golfed. While carmakers soak up $17 billion in taxpayer bailout funds and demand more for their ailing industry, United Auto Workers bosses have wasted tens of millions of their workers’ dues on gold-plated resorts and rotten investments. The labor organization’s money-losing golf compound is just the tip of the iceberg.

Last week on my blog , I noted that the UAW owns and operates Black Lake Golf Course — a “championship caliber” course opened in 2000 that’s part of a larger “family education center” and retreat nestled in 1,000 acres of property in Onaway, Mich. Spearheaded by former UAW president Steve Yokich, the resort also includes “a beautiful gym with two full-sized basketball courts, an Olympic-size indoor pool, exercise and weight room, table-tennis and pool tables, a sauna, beaches, walking and bike trails, softball and soccer fields and a boat launch ramp.” Like everything else we’re subsidizing these days, the UAW’s playground is a money pit. The Detroit Free Press reported earlier this year that the golf course (valued at $6 million) and education center (valued at $27 million) have together lost $23 million over the past five years. While membership in the union has plummeted, the UAW retains assets worth $1.2 billion.

Curious about how the UAW will be spending my money and yours, I sifted through the union’s most recent annual report filed with the U.S. Department of Labor (which you can find at unionreports.gov). Who knew hitting the links was so central to the business of making cars?

In May and November 2007, the UAW forked over nearly $53,000 for union staff meetings at the Thousand Hills Golf Resort in Branson, Mo. In September 2007, the UAW dropped another $5,000 at the Lakes of Taylor Golf Club in Taylor, Mich., and another $9,000 at the Thunderbird Hills Golf Club in Huron, Ohio. Another bill for $5,772 showed up for the Branson, Mo., golf resort. On Oct. 26, 2007, the union spent $5,000 on another “golf outing” in Detroit. In May and June 2007, UAW bosses spent nearly $11,000 on a golf tournament and related expenses at the Hawthorne Hill Country Club in Lima, Ohio. And in April 2007, the UAW spent $12,000 for a charity golf sponsorship in Dearborn, Mich. In August 2007, the UAW paid nearly $10,000 to its for-profit Black Lake golf course operator, UBG, for something itemized as “Golf 2007 Summer School.” UBG had nearly $4.4 million worth of outstanding loans from the union. Another for-profit entity that runs the education center, UBE, had nearly $20 million in outstanding loans from the union.

Perhaps, the union bosses might argue, they need all this fresh air and exercise to clear their heads in order to make wise financial decisions on behalf of their workers. If only. UAW management has proven to be a money-squandering corruptocracy with faux blue-collar trim. Former UAW head Yokich, who built the Black Lake black hole, is also responsible for bidding $9.75 million of workers’ funds in a botched bid to purchase the gated La Mancha Resort Village in Palm Springs. The 100-room walled resort with spas, poolside massages and a “croquet lawn lit for night use” was on the verge of bankruptcy with $5.2 million in debt. Despite outrage from rank-and-file union members who thought one gold-plated golf resort was quite enough, leaders defended the La Mancha bid because, as union spokesman Paul Krell put it, “‘You can never tell if you are going to become snowbound.” Always putting the workers first!

That deal didn’t go through, but the UAW’s quixotic dalliance with a failed airline did. In February 2000, the union poured $14.7 million into Pro Air, a Detroit start-up airline that, well, didn’t get off the ground. Plagued by safety problems, the feds shuttered the company less than a year later. The union didn’t fare much better in its venture with a liberal radio network. In 1996, union heavies got the bright idea to invest $5 million in United Broadcasting Network, a left-wing precursor to Air America that the UAW hoped to use to spread its corporate-bashing propaganda. They shelled out for a $2 million, state-of-the-art studio in Detroit and incurred years of losses of a reported $75,000 a month before closing the network down in 2003.

And while the UAW and carmakers cry poor, they’ve operated massive joint funds for years that have paid for lavish items such as multi-million-dollar NASCAR racer sponsorships and Las Vegas junkets. The dire economic downturn hasn’t changed the behavior of profligate union bigs at the front office or the shop floor. Local Detroit TV station WDIV recently caught local UAW bosses Ron Seroka and Jim Modzelewski — both of whom make six-figure salaries — on tape squandering thousands of hours of overtime on such important labor security matters as on-the-clock beer runs and bowling tournaments.

At least the groveling Big Three CEOs gave up their corporate jets. Where’s the public flogging for the greed-infested UAW fat cats reaching into our pockets to keep them afloat?

http://www.jewishworldreview.com/michelle/malkin123108.php3

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