From: Dehede011@aol.com
Date: Sun Sep 01 2002 - 15:49:05 MDT
In a message dated 9/1/2002 2:42:40 PM Central Standard Time,
Spudboy100@aol.com writes: My suspicion is that people who committ fraud by
lying about the true value of a stock may have other bad habits as well.
Spudboy,
I did not refer to the managers as "perfumed princes" in a recent email
to the list for nothing. When you look in the top of American manufacturing
firms you will find many excellent men and women that are really good
salesmen or perhaps accountants. But when it comes to knowing what goes on
in the manufacturing in they are only slightly more knowledgeable than the
average member of this list.
The 2nd echelon of managers, reporting to these guys, are usually good
men but again the question is good at what? In the case of manufacturing
managers they are usually good at handling the production workers and at a
higher level than you are used to good at expediting the schedule. But their
knowledge of estimating their level of productivity or improving it is
minimal.
There is good reason for this in the case of the 2nd tier. They do a
good and necessary job and their hands are full. They do not have the time
to be industrial engineers, or to use the old fashioned term "effieciency
expert," in addition to their other duties. Consequently over the last 20 to
30 years we have seen productivity take a nose dive as the efficiency experts
have either been let go entirely or put reporting to the front line
supervisors. Today the rare industrial engineer you will see knows he is
there to make his boss look good but not to do his job.
Ron h.
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