The Memo

It seems as though we are deluged daily with news of bailouts for the big Banks and Wall Street firms, who ascribed to the "bigger is better" and "greed is god" theories of corporate governance.  However, every day, there are the less told stories of small businesses, struggling to survive in this dire economic environment.

The following Memo from the Chief Operating Officer of a small business tells the tale:

SUBJECT: The Financial Crisis

With the recent news on Wall Street, I have been hearing many concerns about our organization’s situation and wanted to take this opportunity to detail what we are doing from the top.

First, there will be no layoffs.

* * * *

In terms of recurring revenue, our employers have indicated that they are committed to continuing at present levels on a monthly basis. However, they are also facing pressure, and, based on our discussions with them, we are budgeting for a significantly smaller increase in revenue compared to what we have seen in recent years.

* * * *

However, in light of the global financial situation, there are some measures we are taking to cut back expenses. We feel these measures are prudent to preserve cash flow in the face of uncertain growth and unfavorable credit prospects.

* * * *

In the Travel and Entertainment category, you will find that fewer requests to eat in restaurants will be approved, and requests for desserts in restaurants, particularly, will not be approved (unless they are included in the cost of a kid’s meal). In the case of Cabot’s or The Cheesecake Factory, where ice cream or cheesecake, respectively, is kind of the point, sharing is strongly encouraged. An additional benefit of this will be improved health. Netflix has been put on hold for 90 days, and we will reconsider that offering then; unopened red envelopes left on top of the TV indicate a lack of demand at present. Newspaper and magazine subscriptions are subject to elimination as well. Executives, including myself, are being asked to purchase regular coffee in place of more expensive coffee drinks while traveling, and to utilize meals from our on-site food service provider whenever possible.

Charitable giving will continue, primarily to organizations to which we have supported on a regular annual basis, and new requests will be considered individually.

All major vacations, home improvements, and furniture purchases are temporarily put on hold, unless essential. Pre-approved food and clothing purchases can continue as needed and may be subject to increased budget scrutiny.

Lastly, note that we have no plans to add human resources. Requests for non-human resources (i.e., pets) may be considered in a future fiscal year.

For the rest, see Family Financial Memo.

At least he hasn't eliminated the Christmas tree -- yet. 

(Via The Daily Dish)