“We don’t need to pay those invoices. We bought that inventory as a favor to your Chief Financial Officer to help him make his year end numbers, and we’re going to send it back.”

What did he just say?

I had been employed by my publically traded company for 8 months, and was already troubled by some of the business and financial practices I had seen. I was visiting one of our out-of-state customers and we were reviewing over $1 million dollars of old invoices that they had not paid. I had also been asked to generally review their business practices, as my company was considering acquiring this customer. Read more...