Understanding the small print… clauses, codicils and other buzzkills

RTFC?  Pretty sure the US Government has stopped reading the contract for quite a while now....

RTFC! Read the f***ing contract!  That's a coaching mantra uttered by many a manager in E&C (Engineering and Construction) companies. Know what you're supposed obliged to do, what will make you money, save you money, or avoid massive pain down the contract road. "The customer wants us to gold-plate the railings", says the young project manager. "Is it in the contract?", answers his supervisor. "Err, I don't quite recall." "Well then, READ THE F***ING CONTRACT!"  (*) Whether  a beady-eyed charge-by-the-minute attorney combing through contract terms and conditions, a purchasing agent reading supplier proposals, or a prospective homeowner despairing that the bloody contractor will ever get his sh*t together and … [Read more...]

Coffee Break: Government’s Business Sense and Auto Stocks

GM stock's one-year chart

Continuing with a series of short blog posts on anything that I can write about in between bouts of writer’s block and indecision, filling in the nooks between longer and better-crafted blog posts. Other examples of 101C coffee breaks can be found here and here. ************************************************************************** As if we needed one, here's a reminder from earlier this month of how inept governments are at conducting business. Dateline July 2nd: Government Motors:  As GM shares near record low, taxpayer loss on bailout rises to $35 billion To quote Lando Calrissian, this deal's getting worse all the time.  General Motors (GM) shares fell to a fresh 2012 closing low of 19.57 on Monday. The stock hit 19 … [Read more...]

Carnival of Money Pros – Summer Break Edition

Whose summer break?  Why, mine. Five weeks or so off from blogging, and the Internet in general. At first it was due to a  demanding projects at work.  In the latter part of June, I would go in to work quite early, taking up the hour or two previously allotted to blogging activities.  After a short holiday spent visiting with relatives over the 4th of July, the blog break continued with the need for longer walks in the morning, increasing activity to shed some of the 10 or 15 pounds that have snuck up on me during the last year or two  (business traveling may be interesting and make good blog post fodder, but the meals and drinks tally up around the waistline). Breaks are nice, but now it's high time to get back in the swing … [Read more...]