October 4, 2022

4th of July

McGladrey Employee Not Happy with Firm’s Attempt to Give Everyone a Three-and-a-Quarter Day Weekend

Good morning capital market servants. I know the first day back from an epic holiday weekend is a tough pill to swallow, as many of you couldn’t bear the thought of returning to work today. And because some people like to prolong the agony by taking today off, I’ll do my best to take you back to last Friday. A McGladrey reader dropped this note after I checked out for the day.

The company leaders have recently rolled out this lean working platform [GC coverage here]. They are trying to say work smarter not harder. What most people think lean means though is “do more with less” which is trademark of this company. CE [Andrews] and Joe [Adams] talked on a webcast the other day and they were trying to rile us up. What for? So in the end, they can tell us “despite our great efforts there isn’t money for salary increases”.

CE and Joe and other leaders are all excited about letting the entire firm off at 3 p.m. Friday., July 1 for the weekend holiday WOW! Don’t get too crazy CE and Joe, not 3 p.m. on a Friday? Holy cow!

When Steve Tait was President [of RSM McGladrey] we would get two days off during the Fourth, but under new leadership we get to get off at 3 p.m. on Friday? What a deal. What work-life balance. No wonder we make Working Mothers top 100 each year. Oh and you know what, the firm took away summer hours too…all because they want us to focus on ongoing flexibility…and working lean, which means no one can take time off because departments are too lean.

It’s 3 p.m. now on Friday, and boy I am lucky to be off. Nevermind most employees checked out – officially or unofficially – a few days ago already. I am sure major accounting and tax deals are going down right now on this holiday weekend, but we were fortunate enough to get off at 3 p.m. What a joke!

I think I might get a small putting green cake to celebrate!

Many firms – we’ve confirmed PwC and KPMG – gave their employees last Friday off, which does make for a nice four day weekend. And our tipster is correct, early July is a pret-tay, pret-tay, pret-tay slow time of year for accounting firms so a 3 pm let-out for a Friday before the grandest, pyrotechnic digit-losing holiday of the year might feel like a slap in the face.

That said, if you’re so bent out of shape about it, why not use some PTO (God forbid!)? You’re completely in control of this situation, friend. You want an extra-long weekend? Make it happen. Expecting accounting firms to just hand you a four-day weekend is a little bitchy and you have no excuse if you have a grip of PTO banked. Don’t make the same mistake come Labor Day.

An Accountant’s 4th of July Weekend Reading | 07.02.10

Happy 4th of July capital market servants, tax wonks and accountants of all stripes. Get out there and make some bad decisions (responsibly of course!) this weekend. We’ll see you on Tuesday unless we get word of another good time gone wrong.

CIT Names Former Cerberus Exec CFO [FBN]
And your winner is Scott T. Parker.

IRS agent: Blagojeviches spent $400,000 on clothes [AP]
Is anyone surprised by this? “Next to their mortgage payments — $392,000 — their second-biggest payment from 2002 to nearly the end of 2008 was $205,000 on Tom James/Oxxford custom clothes, revenue agent Shari Schindler said.”

France Calls Google a Monopoly [Floyd Norris/NYT]
They would.

Couple Accused of Stealing $2M From Veterans [FN]
A couple of septuagenarians no less!


Researchers: Regions’ religiosity cuts down on accounting scandals [Nashville Business Journal]
Bible belt = less accounting scandals? Texas A&M says Hallelujah!

How Bad is the Budget Outlook? [TaxVox]
In a word: prettyfuckingbad.

Governor puts 200,000 state workers on minimum wage [Sacramento Bee]
In the battle between Sacramento and Albany for the most incompetent/corrupt/helpless state government, it appears that Arnie has kicked the efforts up a notch.

Some NY hedge fund execs may escape new tax [Reuters]
Speaking of Albany, the hedge fund manager tax that David Paterson & Co. were kicking around is as good as dead now that Hizzoner got a word in on the matter. Back to the drawing board.

Apple Acknowledges Flaw in iPhone Signal Meter [NYT]
How they got Steve Jobs to cave on this is anyone’s guess.

Eight Things Accountants Can Do This 4th of July Weekend

Study for the CPA exam: July is a testing month, so study up on whatever exam is hanging over your head. Your firm is giving you time off – stay sober for six of those hours and cram some knowledge.

Spend The Man’s money: Are you done with the CPA exam and now have an incentive check for doing so burning a hole in your madras shorts? Cash it in, treat yourself to something nice, and begin the b*tching about fulfilling upcoming CPE requirements.

Eat some meat: If you’re a lucky KPMG Kamper that already received your Omaha Steaks package, light up the grill and cook up a feast. (I hear outdated Becker CPA review books make excellent fire starters.)


Jump Start things early: E&Y, PwC, and Deloitte are all closed tomorrow and Monday (at least that’s the case in New York City), leaving Uncle Peat as the lone office stuck with just a three day weekend. Correct me if I’m wrong, but that…sucks? Skip out early, Kampers.

Click on the ads all over Going Concern. Come on, Caleb deserves your ad revenue.

Network you patriotic pants off: Holiday barbeques bring together both friends and strangers. Also be open to the possibility of talking shop with the acquaintances you meet; you never know when a job or new client opportunity will present itself.

Work on your resumé: Your resumé should always be updated; simple as that.

Spend time with family and friends: No, really. You public accountants work too hard and spend too much time together (yes, I’m referring to the romantic couplings occurring at Thursday night happy hours). Branch out and reconnect with your friends – you know – “those people” with 40 hour work weeks. They miss you. Plus, the tan-less look you’ve been rocking since busy season is so February’s look.

Share your plans or off-the-cubicle-wall ideas below. See you all on Tuesday. Cheers!