Before heading out this morning, I thought I would take a quick peek at the ol’ blogroll, and my first stop was over at BlackFive. Down the page a bit was a link to a NewYorkSlimes piece whining about the common sense that prevailed over the king’s ransom being handed out to failures. Story here.
This part of the story is what caught my eye, and is triggering a bit of a common sense rant:
Treasury Secretary Henry M. Paulson Jr., appearing at the White House late Monday afternoon, warned that the failure of the rescue plan could dry up credit for businesses big and small, making them unable to make payrolls or buy inventory.
Maybe I’ve been going about this “business owner” thing all wrong – I thought you bought inventory and paid wages out of the money you made from the service and/or product you provided? You know, collect on the invoice, turn around and pay your employees, buy more inventory, pay the utilities, and the leftover goes in the owner’s pocket or, if he’s smart, into a CONTINGENCY FUND for when someone doesn’t pay the invoice right away…
Obviously, I need to rethink my business model. I need to start “leveraging” my “receivables” and “monetizing” my “books” so I, too, can show false profits and qualify for a government handout.
It is obvious that I am involved in the wrong end of the business world. I need to get into the money supplying end of it, instead of the money using end of it.
Then again, what do I know? I’m just a red necked, bog dwelling hick with no formal ed-uh-muh-cay-shun. The fact that my business runs without a debt probably disqualifies me from belonging to the great herd at the public trough, anyway.
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