When I worked at a bank and somebody's cash drawer came up short a significant amount, we couldn't get away with just shrugging it off as being a mix up in the numbers.
Ace Hardware, it seems, has gotten away with just that. It's only a small error, just a trifle really, only about $154 million, give or take a few hundred thousand or so. (read the article at USA Today.) [link] Ace was on the verge of converting from a retailer owned cooperative to a for-profit-corporation when all of a sudden, lo and behold, $154 million is missing from the balance sheets.
Interesting coincidence.
How does one loose $154 million, and not even notice until a couple of years after the fact? Seems to me a couple of people need to loose their accounting licenses, and more than a few executives need to be looking for another job. Obviously, neither will have to.
I'd really like to know what I have to do to get a corporate job where I get to keep my position and perks, in spite of loosing $154 million. At the bank, if I lost more than $7.50 in a day I would get a write-up, with a possible suspension. What do I have to do? Sell my soul? Join the Mafia? Run for public office? Do all three, but not necessarily in that order?
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