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Mon, 4 Aug 2008

Ha ha - and more seriously ...

Fuck me. Some people really are too stupid to be allowed to live. I refer, of course, to the parents who called their unfortunate offspring "Danika", "Pepita", and "Travers". And to everyone who didn't use a credit card. At them Oi have to larf.

Here's Dave's Rule Of Protecting Yourself From Business Failures: unless the goods are delivered right there on the spot, use a credit card. If your credit rating sucks and no reputable company will issue you one, get one from the corner-shop that you can load up with cash, effectively using it as a debit card. This will both protect you from this sort of fuckup and help your credit rating.

This does, however, raise a serious point.

All the customers who will now lose out are "unsecured creditors". That means that when it comes to determining who gets paid how much, they come third (and last) in line after the taxman and "secured creditors". I don't give a shit about the ordinary run-of-the-mill unsecured creditor. However, I do give a shit about employees. All of the company's employees are unsecured creditors too. They might be lucky if the company went bust immediately after transferring their pay to their bank accounts, but even so, they'll still be owed holiday pay, some will be on maternity leave, their pensions will be unpaid, and so on. It's not uncommon for an employee to end up several thousand pounds out of pocket. Employees can't protect themselves by using a credit card, or by somehow making themselves into secured creditors (ie, mortgage holders), but they're the ones who have actually tried to make the company work, far more so than the tax man or any thieving suit in a bank. So they should be moved to the front of the queue and get paid first. Before the tax man (who will get his pound of flesh from them anyway, not that it matters because his take from any failed company is a trifling amount to him), before secured creditors, and before all the customers.

Posted at 23:09 by David Cantrell
keywords: politics | rant
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