Ten signs of insolvency
The warning signs were all there, first identified by the partner in a firm that cleaned up after the corporate excesses of the '80s, and dusted off today in Australia's Sunday Mail.
1. A company Mercedes-Benz or BMW with personalised number plates.
2. Fountain in the reception area.
3. Flag pole.
4. Prime Minister's Award for Industry.
5. Chairman honoured for services to industry (every industry but his own).
6. Salesman or engineer as chief executive.
7. Recently moved into modern offices.
8. Recently changed bankers.
9. Audit partner grew up with the company.
10. Chairman is a politician or well known for his charitable works – probably finishes up living on charity.