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Meeting the Accountant
We met with the company accountant this afternoon. He said “the company cannot afford to pay any expenses that are not directly related to generating revenue”, and, “for anyone to get money the company must prosper”. The accountant thought my figures looked right and most of Dad’s drawings would go against his loan account. That…
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What a Mustache!
I put faces to names this evening. I was at the launch Steve Navra’s of NavraInvest’s Navra Blue Chip Australian Share Retail Fund, (more on that later), when I met a bunch of neat people who hang out in the Somersoft Property Investors Forum Interestingly one of the guys had a surname that could translate…
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Salvo 2
Dad, The Wicked Step-Mother (TWSM) and I met at the office today. I was acccused of stabbing them in the back and twisting the knife. I got called Judas and my actions were appropriate for Greek Easter. They demanded I pack up my stuff and leave immediately or they would bodily throw me out. They…
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Succession Wars
I allocated Dad’s drawings to a capital account. For the non-accountants that means classifying his costs as paying for something of value (like inventory) or as a loan (which can be called in). Once sorted and simplified, the number comes out to a $306K economic benefit over the last 12 months. This morning he screamed…
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BHP Apr 9.73 Calls expire worthless
BHP Apr 9.73 Calls expired worthless today. I wouldn’t mind being exercise at $9.73 but it was not to be. Hartleys shutting down is a major pain as it makes trading difficult, plus I need to re-establish all the trading and margin accounts.
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Expense Audits
I think I’ve mentioned my company’s cash-flow crunch. At a meeting this week, another business owner quoted her mentor “if you haven’t had cashflow problems you haven’t been in business”. I’ll draw solace from that. Instead of throwing 100% of my efforts into fixing this problem, I have to divert attention to dealing with retired…
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R.I.P. Hartleys (non-WA)
Well Hartleys is no more (unless you live in WA). Bummer really, as they were my full service broker and that’s how I did my options trading. I can move either with my broker to a new firm or go fully on-line and use Commsec. Full service brokers are good for after-market trades and occassional…
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Cashflow mayhem
MYOB sucks! Alternatively, my MYOB skills are severely challenged ;). The company is coming out of its traditional New Year’s cashflow crunch. Our sales in January and February normally represent about 6% of annual sales. As a result I’ve been monitoring our cashflow more closely than normal. Making payroll and paying suppliers is a good…
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Communication Technique
One of my distributors got angry at me today. Actually, my phone manner pissed her off. Specifically, she said the way I “hmmm’d” while she spoke sounded like I was eating an apple and reading a magazine. At the time I was trying to make her feel heard (!). In a dispute use the communication…
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Incomplete BHP trades
I haven’t noted a few trading attempts that didn’t come off recently. Mainly because I was too busy to write something that didn’t happen. With hindsight I think that was slack — trades that don’t come off are still an attempt to trade. As BHP fell to $9.07 (1 April) I put a buy order…