The Unemployed Buddhist –Closing
The Unemployed Buddhist –Closing
I’m told that the time has finally come when our company will cease operations. I feel conflicted about the closing, which is supposed to be Friday. I am nervous about the prospect of being unemployed, while simultaneously relieved to be getting off this freakin ride.
It’s strange how you can be vigilant about the details of something and be totally blindsided by what seems to be a completely arbitrary event.
I would have expected the end of our company to be the result of poor sales, poor management, or both. As it happens, our undoing is the direct result of our major shareholders greed.
When I last posted to this topic I wrote that I had much to say, but that the timing wasn’t right to Blog. I’m not sure that the timing will ever be right, but here I Blog anyway.
Brutus
You may have read about our ‘Brutus’ recently, or seen coverage about him on TV; he is the Indianapolis millionaire accused of running a ponzi scheme. You can read the details yourself; the short of it is that he purportedly stole around 200 million from investors.
We have the unfortunate distinction of being one of the ‘assets’ where some of this money was supposedly invested. You can imagine that having the federal government involved in business operations is neither pleasant, nor helpful. Initially, there was a suit aimed at seizing Brutus’s assets, which would have destroyed our company immediately, somehow this action was dropped, but there are still pending charges/accusations.
I’m not really sure why Brutus hasn’t been charged yet, I imagine that the FBI and SEC want to have all their ducks in a row to ensure that Brutus goes away for a long time.
I’ve met Brutus; I even stayed in his mansion once, on a business trip to discuss the performance and future of our company. (And no, I wasn’t there when he was having one of his playboy bunny parties) He is a very smart man; I would venture a guess at an IQ around 160+.
Brutus seemed different than most upper class folks that I’ve met; he had a certain graciousness about him. After taking us out for dinner and drinks, he invited us to come back to the mansion and stay the night, instead of returning to our hotel.
Once we arrived at his home, he gave us a tour of his multi-level garage which is much larger than my house and contained collector cars worth millions. It was all quite impressive, but I was more intrigued by what his perceptible success meant to him.
We had a short discussion about his rise to ‘material wealth’ and it became apparent to me that he was lost in his acquisitions, that he had little or no regard for anything but becoming the richest man alive. I didn’t begrudge him his pride, his idea of success, we all have our illusions. I simply asked him if he was happy, to which he replied, snickering, ‘look around you’.
We had other conversations that night, mostly what I got from them was a sense of his incredible arrogance and disregard for societal norms. He had a cold view about employees and adversaries, akin to Gordon Gekko; portrayed in the movie Wallstreet, in fact, it’s quite possible that Gekko is a hero of his.
The Beginning
I can only imagine the first conversations Brutus had with the Captain about buying a stake in our company; a Great White shark negotiating with a new born baby. I can see the Captain, star struck, eyes wide with amazement as Brutus gently eased the Captain into the worst decision of his life.
The partnership worked well for the Captain for many years, right up until the bottom fell out of the economy and Brutus started feeling the heat of some of his poor business decisions and practices. Brutus still had plenty of money at the time, but he was greedy, he wanted to be liquid so that he could take advantage of discounted stock portfolios and general panic, so that he might acquire more wealth. I imagine that some of this movement of money might be what triggered the initial investigation and now I think he might have greater concerns than trying to become ‘The Richest Man Alive’.
Back to our little company and how this negative activity has sealed our fate.
As I have mentioned in other articles, we have begun generating reasonable income again, but cash flow and debt acquired over the past year and a half continue to be serious threats to the company’s survival. Many of our clients seem to be waiting to see if we are going to pull through before making any payments to us. It’s a rare day when the Captain hasn’t received a call from someone inquiring about our viability. In business as in many things, perception is as influential as reality, and many perceive; correctly, that our company is in big trouble.
The best solution at this time might be to sell the company to some amenable suitor, many have actually inquired about this possibility. The Captain has gone through initial disclosure processes with potentials, to no avail. Pending action from the Fed does seem to be a big bargaining no-no.
Caught in a corner, with no way to help the company, without huge potential loss, the Captain is calling it quits, and who could blame him, he has lost tens of thousands this year alone, and hasn’t paid himself in over six months.
So here we are, at the end of a strange journey and the beginning of something new, who knows what will happen next.
Although the Captain never reads this blog, and I don’t imagine that he ever will, I would like to thank him for all of his tireless efforts over the last year. I have certainly had my issues with the Captain, but I have to say that I’m proud to be associated with a man of such warmth, compassion, and consideration of others.
To all of my co-workers, it has been a pleasure and I hope that your fortunes improve as a result of this change, and that we have occasion to work together again.
Now the reason for this series actually begins, I would have imagined this phase occurring months ago. I’m thankful for the extra time, but I’m really in no better financial position to bear this now than I was six months ago, shame on me.
On a side note: I have begun working with some new clients, thanks to the Captain for the introductions.
It is also extremely cold here, we have had temperatures down in the 30’s, I know, nothing compared to the temperatures the North is experiencing, but very cold for here.
Yesterday I found a gecko next to the door who appeared to be dead, when actually he was more in a state of extreme lethargy, brought on by the cold. I brought him home last night and placed him in a small container with some food. He didn’t eat the food, but he does seem to be much happier today
I’ll keep yah posted on his progress; hopefully I can release him soon.
Ambud







