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Re: The Economy...

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David:
 
The recession is selective.  My backlog is at record levels and I have expanded my structures group 78% since the first of the year.  None of this is related to any funding from Washington.
 
With respect to accounts receivable, I never have anything outstanding beyond 60 days and most of my A/R is paid within 30 days.  I insist on it!  Be more selective in choosing your clients, and then be more aggressive in your collections.  You don't need to work for the experience.
 
Also, if I recall correctly, your spouse is a former Badger cheerleader.  Obviously, she deserves more jewelry and a new Lexus.
 
Regards,
 
Stan       

On Wed, Jun 24, 2009 at 5:26 PM, Garner, Robert <rgarner(--nospam--at)moffattnichol.com> wrote:

How did you ever let your billings get this high?

 

That was the first lesson I learned.  And remember our discussion on "deliverables" submitted on fade-away paper?

 

ps:  I am employed but the boss recently emphasized that we are "at will" employees.

Bob Garner, S.E.


From: David Fisher [mailto:dfisher(--nospam--at)fpse.com]
Sent: Wednesday, June 24, 2009 2:45 PM
To: seaint(--nospam--at)seaint.org
Subject: The Economy...

 

There seems to be little discussion of the current global economy

And its impact on the structural engineering business…other than Bill

P.’s ongoing employment travails.

 

My hope is that this is because the members of this list have not

Been overly effected by things.

 

At any rate, I received a letter from a client that owes me $50,000.00 yesterday.

After spending the better part of the page reminding me that we are in the worst

Economy since the Great Depression, he closed with:

 

I am currently reviewing our outstanding accounts with you and will

follow up with a letter of status on each project. However, with the

projects that have failed, are in foreclosure or will be impossible to collect,

I am requesting that you write off and forgive the debt."

 

 

 

David L. Fisher SE PE

 

Fisher and Partners - Cayman

372 West Ontario Chicago 60610

75 Fort Street Georgetown Grand Cayman BWI

319 A Street Boston 02210

 

312.573.1701

312.573.1726 facsimile

312.622.0409 mobile

 

www.fpse.com