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Author Topic: Former theater manager charged with embezzling nearly $116,000 Adam Martin I'm not even gonna point out the irony. Posts: 3686 From: Dallas, TX Registered: Nov 2000 posted 04-29-2007 01:14 PM                     There was an article in the April issue of Details Magazine about this type of crime. The New White-Collar Rogues (pdf, 430KB)  |  IP: Logged Jack Ondracek Film God Posts: 2348 From: Port Orchard, WA, USA Registered: Oct 2002 posted 04-29-2007 06:43 PM                        quote: Randy Stankey Just tell them this: For every dollar a company loses because of theft, they have to make an EXTRA DOLLAR'S profit to cover it. SO... if somebody steals a hundred dollars today, you have to make TWO hundred to break even again. Interesting logic. However, stolen profits will always remain lost. A company can ALWAYS raise their prices to attempt additional profits. Selling an extra couple-hundred is great, but that hundred that went out the door is gone and is forever lost. You could do all the above and make whatever you could whether you lost some to theft or not. Were it not for the thief, you'd be a hundred bucks ahead!  |  IP: Logged Randy Stankey Film God Posts: 6539 From: Erie, Pennsylvania Registered: Jun 99 posted 05-10-2007 11:29 PM                     quote: Jack Ondracek However, stolen profits will always remain lost. Of course, your right. But, whether that money is stolen or not, you still have expenses to pay. If somebody stole that money, how are you going to pay your bills. You're going to have to make it back somehow. Theoretically, you'd do it by working harder to make MORE money to cover your loss. But, given the breakdown I described above, that is going to be VERY hard to do. A little bit of money, stolen now and then isn't going to hurt you in the short term but it all adds up. If you're losing money, you're going to have to make up for it in your budget somewhere. The first place you usually make budget cuts is in payroll. What I'm driving at is the fact that most employees don't think it matters if somebody steals. Nobody has ever told them anything like this. But, if we can drive that idea home with our employees, we hope they will be less likely to steal and/or to turn somebody in who does. Yes, you'll never get that money back. My breakdown just explains just how important it is to keep that money from being lost in the first place.  |  IP: Logged

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