Rita loves her job as Marketing VP for Hart & Tack Fried Foods, Inc. She really does. But she works hard, and she works long hours. Her job isn’t easy. But she’s asked for a raise five times over the last four years, and she’s been turned down every time. That’s why, about six months ago, she started doing a little “tunneling”: redirecting some of Hart & Tack’s profits from their accounts...to her own. She figures that, in about a year, she’ll have tunneled enough away to more than make up for the raise she didn’t get.
Is this shady? Yes. But is it illegal? Um...also yes. “Tunneling” is a slang term; it’s probably better recognized by its legal name of “fraud.” Any time a major shareholder or someone high up the organizational food chain starts shifting assets from the business to themselves, whether by stealing clients, cooking the books, manipulating share statements, paying themselves crazy high bonuses, or outright funneling money directly into their account like Rita, they’re tunneling. And tunneling is...bad. It can get a person fired at best, convicted and imprisoned at worst.
So if we find ourselves in a situation like Rita’s, we should consider maybe looking for a new job instead of committing a felony.
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Finance: What is Cash on Delivery (COD)?41 Views
Finance a la shmoop what is cash-on-delivery?
or CoD well if you have a deadbeat buyer who's taken forever to pay you in [Danny Deadbeat laying on sofa]
the past think remember Popeye and wimpy borrowing money for burgers next Tuesday
when he actually never pays you'll eventually have to make that customer
that deadbeat a COD status purchaser well CoD has nothing to do with cheap
fish rather it stands for cash on delivery like you get cash when the good
is delivered and it means that the postal person or UPS gal or FedEx dude
has to collect the cash you are owed before they will actually leave the [Cash transfers to mail people]
package being shipped at the warehouse on your doorstep or van parked you know
down by the river if a client has such bad credit or has such a miserable
payment record that they have to be put on COD status well you may really have
to re-evaluate your relationship there COD also carries charges and often
they're big because a postal worker may have to ring the door eight times before [Postal worker ringing door bell]
finding the deadbeat at home and then even if he is home well it's uncertain
whether or not he'll have the ready cash to pay for whatever goods he just
ordered and sometimes you'd have better odds of getting money out of this thing [Pile of fish appear]
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