10/18/2012

Headline Oct19,2012/

''CIRCLING THE CORPORATE WAGONS!''



As money becomes tighter, the bean counters start to focus -every transaction is scrutinised and bad investments and outright frauds come to light. It's no surprise that Bernard Madoff's alleged pyramid scheme was exposed during the recession, or that Enron and Worldcom were suddenly laid bare by the bursting of the dotcom bubble.

Professor JK Galbraith's ''The Great Crash'' 1929 pointed out that fraudsters tend to get caught when the good times end. In his inimitable term 'The Bezzle' -the chunk of money that ''white collar'' criminals can loot -is suddenly compressed in a downturn.

'Credit' comes from the the same Latin root as 'Trust' -and a credit crunch is also a Trust crunch. People won't be so trusting over the next many many years.

Tempted to pinch a few office supplies or fiddle those expenses? It's just not worth the risk. But do watch for depressed stags.

''They were displaying classic symptoms of mania. They were overconfident, they had racing thoughts, and they had diminished need for sleep,'' said John Coates, a former Wall Street trading floor manager. And he wasn't describing drug addicts, but the male traders he supervised during the dotcom bubble.

Coates, now a researcher at Cambridge University, discovered that successful traders are high on testosterone. This encourages them to take risks and, within limits, help them succeed. But this rush never lasts and begins to unwind with the first sign of fate reversal.

So your pressured, depressed colleagues are likely to sling a bit of mud around. Make sure it doesn't stick. David Sims of Cass Business School has written a thought provoking paper entitled. ''You Bastard: A Narrative Exploration of the Experience of Indignation within an Organisation.''

One of the lessons of this striking research, -which won a prestigious ''Ig-Nobel'' prize, is that in tough times people take comfort in labelling other people. It's vital that you don't allow yourself to be a target.

Sly and criminal colleagues even acquaintances realize that by demonising you they can advance themselves. Confronting and defeating such a Bastard is a brilliant all round career move observes Stefan Stern of the FinancialTimes.

The Astronomer Fritz Zwicky use to call certain colleagues, ''Spherical Bastards'' Why? because no matter at what angel he looked at them they still at the core remained the same.

Do expect some of your colleagues to play rough as things swirl and yo-yo. It means the pressure is getting to them. But on balance, ''Recessions'' are the perfect time to rise above it all.

Keep your head, make sure you look like a Team Player to those above you and bide your time.
Sharp elbows will have their uses in the next Boom. But remember that this Boom maybe long long in the coming.Mr Nice Guy? What Mr Nice Guy?
Hahaha!

Many thanks to !WOW!

God Night and God Bless

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