Chapter 24 - Bennett Meridian survives Daniel
The company did not collapse.
Important.
Forty-two employees did not deserve unemployment because Daniel committed financial misconduct.
The board hired an interim chief financial officer.
Then a permanent one.
Changed vendor controls.
No executive could approve a new vendor and payment alone.
Bank-account changes required independent verification.
Related-party disclosures expanded.
Corporate-card exceptions were reviewed monthly.
Daniel hated that the company survived him.
I knew because he said during one mediation:
“They’re acting like I was the disease.”
Rebecca Sloan answered:
“They’re acting like controls should not depend on one person’s honesty.”
Exactly.
Bennett Meridian later recovered part of its losses through:
Restitution.
Insurance.
Settlement with Evan.
Asset offsets.
Not all.
May you like
Businesses rarely get every dollar and every hour back.
They moved on anyway.
