Remember last month when Koss decided to file their 10-Q without financial statements? At the time the company said it was "due to delays relating to certain previously disclosed unauthorized transactions.” In other words, we got ripped off so bad that we're restating financial statements for half a decade and it isn't exactly something you can whip up like a batch of maui wowie brownies. The Nasdaq has taken note of the slight delay and has said if you don't get us numbers by June 30, you'll be on the pink sheets with the likes of Lehman Brothers. CEO Michael Koss has assured everyone that it won't come to this but obviously we'll have to wait until the SEC posts the filing. If that doesn't happen, you'll be able to add "Koss Delisted by Nasdaq" to Suz's list of destructive accomplishments. Koss gets warning from Nasdaq [Milwaukee Business Journal]
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McGladrey Gives Thanks with News of Bonuses, Extra Holidays and Babysitters
C.E. Andrews and Dave Scudder interrupted McGladrey employees regularly scheduled spreadsheets a short time ago to share all kinds of good news. For starters, Mickey G’s is letting all employees blow off December 23rd and 30th which is pretty nice. Secondly, concierge services will be available starting January 1st, as well as a new arran ”http://www.sittercity.com/”>Sittercity for in-house care caregivers.
And yes, there are bonuses.
But not just the year-end bonuses, mind you. No, C to the E and Scuds heard your incessant bellyaching and in addition to the year-end pool they are implementing “a new program to provide real-time recognition and monetary rewards” for those of you that go above and beyond the call of duty.
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Our tipster was pleasantly surprised and told us, “McGladrey matches PWC – well not quite but certainly more than expected.”
True, McG isn’t hosting Thanksgiving up in Minnesota Nice country to our knowledge but it seems like a nice little surprise from the punch and cake crowd.
With Thanksgiving just around the corner, we’d like to take time to reflect on the things we are thankful for this year. The last twelve months haven’t been easy, but we have made some important changes in our organization that will create a solid foundation for our future success. We are thankful to have made it through this time of transformation, and we are beginning to see early signs of new growth for our firms, which will be aided by our new brand, growth strategies and the improving economy.
We have only accomplished this because of your tremendous efforts, and we are grateful to lead such a dedicated group of people. Today we’re happy to share some of the things we plan to do to show our thanks to you and to help you experience our people promise.
A gift of time
We’ve asked a lot from you during the last year, and we are truly thankful for the time you’ve invested to make our firms and our clients successful. To show our gratitude, we are giving you two extra paid holidays on December 23 and 30 to relax and spend time with friends and family. If you have conflicting client obligations, you may consult with your work team leader to find alternate dates.Support for your busy schedule
You have a lot on your plate at work and at home, and we’re pleased to offer two benefits to help offset some of the stress you might be feeling. Starting January 1, all offices will offer concierge services to help you complete a variety of errands and personal to-do’s. We also will provide access to Sittercity, a new client whose business offers a program that connects you to local in-home caregivers for your child, elder, pet or home. Look for more details and information from your regional leaders in the weeks ahead on how you can take advantage of these programs.Recognition and rewards
We know that you’ve been wondering about the bonus pools for year end, and we want to confirm that we have planned for bonuses this year to reward eligible employees for exemplary performance in support of our firms and our clients. We’ll commit to a baseline funding level in dollars, and the pool will grow based on our year-end performance.But you’ve told us that year-end rewards alone aren’t enough – you also want to be rewarded throughout the year for your important contributions. In January, we will be introducing a new program to provide real-time recognition and monetary rewards to those of you who go above and beyond to serve clients, develop colleagues and support our strategic objectives. It will be similar, but not identical, to our former SPOT bonus program that many of you may remember. You will be hearing more specific information about both of these plans from your region after the Thanksgiving holiday.
We are truly thankful to have you on our team, and we hope that these things help demonstrate our appreciation. They are just the beginning of more good things that will come as we continue to strengthen our business. We look forward to reconnecting with you via our quarterly webcast on December 16 to discuss the progress we’ve made so far. Watch for an invitation next week.
In the meantime, we hope you have a relaxing holiday and that you enjoy reconnecting to the people and things that are important to you.
Happy Thanksgiving!
Is Stephen Chipman Preparing to Embrace Twitter?
We hope! Our speculation is fueled by a line from SC’s most recent post:
“Because I’ve heard it said that brevity is not my strong suit, I will try to explain it in 50 words.”
Whether Steve-o realizes it or not, at 50 words, he still needs to improve his brevity. But it’s a start and we’re hoping that he’ll get eventually embrace Twitter. We’re envisioning pithy Tweets followed by clever hashtags like #GTrocks or #Big4sucks or #isecretlyheartsuesachdeva.
The fact the whole brevity topic came up makes us curious. We only made mention of it once, ages ago, so we’re certain that he isn’t referring to our commentary (which we’re sure he reads religiously).
Anyhoo, Even-Stephen was referring to the difference between the Grant Thornton Senior Leadership Team and the Partnership Board. Disappointing everyone, he ended up using 51 words and 258 characters:
The SLT is the equivalent of executive management, and the Partnership Board is the governing body of the firm. The SLT is appointed by the CEO and approved by the PB. The CEO is appointed by the PB. The SLT reports to the CEO, and the CEO reports to the PB.
That’s followed up by Stephen getting back to his windy ways, describing what every member of the SLT does (you can get the gist from their titles).
So while we’re encouraged by Chip’s effort at getting to the point, he still has some work to do. Just sign up and go for it man. Plus we’d be interested to know who Steve-o would follow. Going Concern is a given but does he go intellectual and follow Taleb and Roubini? Or slum it with the rubes and follow Kim Kardashian, Courtney Love and Kanye?
Stephen, just get on Twitter.
Accountant Convinces David and Victoria Beckham That They Don’t Need Seven Gardeners
The Beckhams were concerned that “ordinary people were tightening their belts,” so what did they do? They fired a bunch of ordinary people! All it took was a shrewd accountant to tell them, “You’re pouring money down the drain.”
The fun-killing accountant is then quoted by a source in The Sun that employing 50 people around the word isn’t necessary, ” ‘You CAN afford to employ all of these people. But why the hell DO you?’ “
Vic took it to heart, so she cut 14 people off the payroll. This included a housekeeper that worked for them for eight years who was replaced by “two ‘cost efficient’ foreign staff,” so things aren’t completely falling apart.
As for the gardening, they’re down to one and now that poor bastard has to double as a chauffeur. Can you imagine the hell that must be having that guy track muddy shoes into the car? The horror.