Print This Article Post Comment Add To Favorites Email to Friends Ezine Ready

Don't Let Patience Turn Into Bitterness

By: Axel Meierhoefer Home | Business


The subheading to this article could read:

"How the little guy gets squashed by the establishment"

You might say: "So what's new. We know that that happens all the time." - And you are probably right.

Let's start at the beginning: This morning I was sitting at the breakfast table reading the newspaper when I ran across an AP-article about an accountant in a small town bank. The story said that he is a teacher of accounting now, and that he uses his own story to teach his students.

Don't you sometimes hope the little guy wins?

Are you sometimes frustrated that the establishment, being it the city administration or government, a corporation, or a large organization seems to get away with things you, as a private person, never would?

Not all battles are the same, and not all of them are worth fighting. In one of our communities here a single student wrote a letter to his school demanding that the paintings and sculptures of a warrior Indian be removed form campus. He feels they are offensive and portrait Indians as war-mongering. The school board recently decided to keep the name "Warrior" but remove all signs of the Indian head from everywhere, including letter head, athletic gear, everything. After 80 years of tradition and pride to be a Warrior, one student's letter is enough to get the whole community up in arms. In my view it's a huge waste of energy and time.

I myself am involved in a fight on a smaller scale. As a former employee of a company that went bankrupt, a group of my friends and I are still hoping to get some of the compensation the company owes us. We have been waiting and fighting for 3 years now.

Then there are the other fights, like the one I read about in the paper, of the teacher named Dave Welch. In that case I really hope the little guy wins. Here is what happened. During times of massive corporate scandals at Enron, WorldCom, Tyco, etc. Mr Welch refused to sign the financial statement of the bank he was working for. As the accountant he has to attest with his signature that all the numbers are correct. He suspected that things weren't all clean, and so he didn't sign.

The federal government, in the form of the US Congress, had passed a law to protect whistle blowers, like Mr. Welch, from repression in case they found or suspected something was wrong. The article I read in the paper this morning speaks about the fact that the protection as originally intended doesn't really seem to exist. Of a total of 1091 cases, the little guys only got a favorable ruling 17 times; that's less than 2% - some protection, if you ask me.

As you can imagine, after being fired from his bank for not signing the financial statements, Mr. Welch didn't find work in his little town. Even when he applied further away the fact that he was a whistleblower has been seen as a risk for employers. He had to sell his farm, lost all his savings, and now is a teacher instead of an accountant. He did the right thing under the law. He spoke up when he suspected wrong doing, but nobody is willing to enforce this law. The courts have ordered the bank 4 times so far to pay Mr. Welch his back pay and rehire him, at least temporary, or give him a severance package.

Each time the bank refused and appealed the decisions. This case is probably dragging on for years to come.

Does that mean I advocate to keep your mouths shut and overlook blatant mistakes or fraudulent behaviors? No, not at all. What I think anybody in this kind of a situation needs to be aware is this: Don't expect any help because the laws passed in the last 8 years are predominantly in favor of business. Even in cases where they appear to protect the employee, they get interpreted by government administrators in ways that avoid consequences.

If we are lucky, we might get better government after the next presidential elections. Even if that happens, it will take years to correct the many problems that have come from an overly pro-business atmosphere.

I am a business and leadership coach and consultant. I depend on clients form this niche. Still, I believe we need to recognize our core values and apply the rules and laws equally for all. A bank can increase it's legal budge from $100.000 per year to $400.000 per year to fight a little guy like Mr. Welch. Good leadership and working with a good coach and consultant would mean to find a way to solve the issue, review the data, admit wrong ding, if that is warranted, and safe the legal fees. With the legal fees the bank spend the last 5 years they could have helped a lot of their customers and create new larger profits.

I believe there is a great lesson to be learned from this story: When you know you are right and you are patient enough to look, you will find others who agree and will take a chance on you. Here is how the story ends:

Mr. Welch applied for a job as a teacher at Franklin University in Ohio. The article reads: "At the end of the interview Mr. Welch was shown into the office of Paul Otto, the schools president at the time.

Mr. Otto is a blunt-spoken long-ago Marine who sits on two corporate boards. He'd heard about Mr. Welch. The case, Mr. Otto said, reminded him of an article he'd written a few months before the interview, on the need to challenge corporate authority.

He invited Mr. Welch to take a seat across a coffee table in a desk-less office. "Let me ask you," Mr. Otto said, "did you refuse to certify the banks financial statements or did you sign them and then blow the whistle?"

"I refused to sign," Mr. Welch said, unsure which was the right answer. It was good enough for Mr. Otto, whose article preaches this message:

"The greatest failures resulting from unchallenged authority have occurred when people reporting directly to the CEO lacked the courage to challenge their boss."

Mr. Welch got the job."

As mentioned at the beginning, he could have gotten frustrated and bitter with the justice system, the labor department, the community that expelled him, although he didn't do anything wrong.

Good thing he didn't. He is still patiently hoping that the intent of the law will ultimately give him the back-pay the courts have ordered the bank to pay several times by now. More importantly, he is using his story to encourage other future accountants to be vigilant and stand up for what is right.

Having strong confidence, the willingness to stand up for what is right, and be firm in your convictions isn't just a lesson for a little guy, an employee or a lower level manager, but for executives and leaders among all of us. And just because things might not go our way immediately doesn't mean we should give up. I hope very few people have to give up their farm, their job, their community, and their friends, to fight for what is right.

Mr. Welch's story inspires me to keep going and not turning bitter. I hope anybody being involved in similar situations will see that being strong, full of positive energy and patience is the source of the power it takes to persevere.



Article Source: http://www.eArticlesOnline.com

About the Author:
Axel Meierhoefer is an experienced performance coach, author, educator, consultant, and the founder of Axel Meierhoefer Consulting LLC (AMC LLC). His motto is" Helping others help themselves achieve success". If you like to get on his VIP E-mail list to receive more articles, or if you like to receive his FREE special report, go to http://www.meierhoefer.net/special or email AM@Meierhoefer.net


Tags: , , , , , , , ,

Please Rate this Article

 

Not yet Rated

Click the XML Icon Above to Receive Business Articles Via RSS!

Recent Related Articles From Business

  • How To Generate Pro Forma Financial Statements For A Company
    By: Wade Anderson | Jul 28th 2006
    Many companies generate and keep historical financial statements, but very few develop a working set of pro forma financials. Pro Forma financial statements are designed to give you a look at the projected, future financial statements of a company. Read

  • Financial Statements Why Its Important For All Business?
    By: bookkeeper | Jun 15th 2010
    Financial statements are important futures for each and every business for the reason that if are you applying personal loan so financial statements is essential requirement. For a business enterprise, all the correct financial information, accessible in a structured method and in a form simple to understand, is called the ... Read

  • Legal Fees In Addition To Your Attorney Fees And Your Legal Bill
    By: Steve Dimeck | Oct 28th 2006
    When filing a lawsuit, in addition to your attorney fees, you may be required to pay some or all of these extra expenses or otherwise referred to as legal fees. Read

  • What Story Do Your Financial Statements Tell About The Value Of Your Business?
    By: Tom Wheelwright | Feb 6th 2008
    Every company's financial statements tell a story about the value of the business. That's why the financial statements are the starting point in any appraisal of a business (commonly referred to as a business valuation). Read

  • Legal Fees As Benefit
    By: Elboydny | Mar 3rd 2007
    The following article lists some simple, informative tips that will help you have a better experience with prepaid-legal. Read

  • Advice On Buying Spanish Property
    By: John Everitt | Aug 4th 2007
    Spain property search from property agents - advice on purchasing Spain real estate. Spanish properties buyers guides, legal fees, taxes and mortgages explained. Read

  • Advice On Buying Dubai Property
    By: John Everitt | Aug 6th 2007
    Dubai property search from property agents - advice on purchasing real estate. Dubai properties buyers guides, legal fees, taxes and mortgages explained. Read

  • The Ins And Outs Of A Financial Statement Audit Report
    By: Wade Anderson | Jul 26th 2006
    All public companies and many private companies as well, undergo an annual financial statement audit; the culmination of which is an audit report. The audit report gives an opinion of an outside accountant on the overall financial condition of the company. Read

  • Tax Accounting Toronto Reliable, Accurate Financial Services
    By: Rick Martin | May 24th 2007
    Ever since the ancient of times, we have relied on money and financial transactions to get by. Throughout the years, economy improved severely and the need for accurate financial records was felt. The modern world of today relies on accountancy for a number of reasons, including keeping track of one's financial activity. Read

  • Advice On Buying Portugal Property
    By: John Everitt | Aug 4th 2007
    Portugal property search from property agents - advice on purchasing Portugal real estate. Portugese properties buyers guides, legal fees, taxes and mortgages explained. Read


Copyright © 2005-2011 eArticlesOnline, LLC - All Rights Reserved
Terms of Service | Privacy Policy