How did you ever let your billings get this high?
That was the first lesson I learned. And remember our discussion on "deliverables" submitted on fade-away paper?
ps: I am employed but the boss recently emphasized that we are "at will" employees.
Bob Garner, S.E.
There seems to be little discussion of the current global economy
And its impact on the structural engineering business…other than Bill
P.'s ongoing employment travails.
My hope is that this is because the members of this list have not
Been overly effected by things.
At any rate, I received a letter from a client that owes me $50,000.00 yesterday.
After spending the better part of the page reminding me that we are in the worst
Economy since the Great Depression, he closed with:
I am currently reviewing our outstanding accounts with you and will
follow up with a letter of status on each project. However, with the
projects that have failed, are in foreclosure or will be impossible to collect,
I am requesting that you write off and forgive the debt."
David L. Fisher SE PE
Fisher and Partners - Cayman
372 West Ontario Chicago 60610
75 Fort Street Georgetown Grand Cayman BWI
319 A Street Boston 02210
Wednesday, June 24, 2009
Re: The Economy...
The recession is selective. My backlog is at record levels and I have expanded my structures group 78% since the first of the year. None of this is related to any funding from Washington.
With respect to accounts receivable, I never have anything outstanding beyond 60 days and most of my A/R is paid within 30 days. I insist on it! Be more selective in choosing your clients, and then be more aggressive in your collections. You don't need to work for the experience.
Also, if I recall correctly, your spouse is a former Badger cheerleader. Obviously, she deserves more jewelry and a new Lexus.
On Wed, Jun 24, 2009 at 5:26 PM, Garner, Robert <email@example.com> wrote:
at 4:08 PM