Mike at Night Let the Buyer Beware
Caveat Emptor is a phrase we've heard for forever it seems. It translates to "let the buyer beware." In today's world, there's probably no piece of advice that is any more sound. Day after day, week after week, we're exposed to on-going shenanigans in the business world. Names that have become household names, not because of their integrity but because of their fraud. Enron, WorldCom, Arthur Andersen, ImClone, and Martha Stewart, just to name a few. Arthur Andersen, one of the country's foremost accounting firms was "in bed" with Enron. Cooking the books, shredding documents and filing false reports. WorldCom was screwing the stockholders while top management was making out like bandits. Martha Stewart, that paragon of virtue and the homestead, sold 4,000 shares of her stock in ImClone at sixty dollars a share before the stock plunged the following day. It closed on Thursday at $6.78 a share. We like to think that these things only happen to power-hungry people who have reached a status that makes them think they are untouchable and unassailable. But, alas, it happens in the heartland as well, albeit on a smaller scale. A friend of mine recently was having trouble with his home air-conditioner and called for help. After looking and testing, it was suggested that the air-conditioning system was on its last legs and it would probably be best in the long run to buy a new unit. Fortunately for him, he had a relative that had knowledge and know-how about such things and he immediately asked him if the serviceman had performed a very simple task. The answer was no. Alas, that's where the problem was and now the unit is operating at peak efficiency again. I recently had mechanical problems with my car that required removing the entire dash. A few days before I encountered this serious problem, my dash lights had burned out. I asked the mechanic to replace the bulbs as long as the dash was going to be removed anyway and he happily replied that was going to save me some money. When the car was returned, the major problems were repaired but only one dash bulb was replaced so, at night, I could see everything on the right side of the dash but nothing on the left. Additionally, the brake light was constantly on, even though the brake was disengaged and the cruise control light would not COME on, even though the cruise control still worked. I went back down the next day to tell the mechanic about my problem. He said he would talk to the mechanic that actually worked on my car and get back to me. That was the last I've heard from him. Why? Because there was no money to be made in fixing a problem THEY had caused. I'm sure readers of this column have had similar experiences. The bottom line today is sales and not service. Anything that affects the corporation's bottom line in a positive way is a good thing, even though it's usually affecting our bottom line in a negative way. Pride in workmanship seems to be an extinct trait of our forefathers. I don't mean for this column to be an indictment of all retailers and corporations because it certainly isn't. There, fortunately, are still people who pride themselves on a job well done and would never rip anyone off. Unfortunately, thanks to investigative reporters from the news media, we are constantly bombarded with news about the crooks and the charlatans. I'm sure they were always there and their misdeeds just didn't see the light of day but I also feel certain there weren't as many of them as there are today. It used to be as important in this country HOW you got to the top as it was to actually get to the top. Today, how you get there doesn't seem to matter nearly as much as just getting there. If people are ripped off in the process, so be it, goes the mindset of far too many people supposedly operating in the public trust. So, it's necessary for all of us to read the title of this column again and burn it into our psyche because too many people out there are gunning for the dollars in your pocket without any concern at all about how they get them. ____________ Mike can be e-mailed at mikeatnight@hotmail.com |