As if you didn't sign the check yourself!

[Ghel]

This SC is one of Goodhair's customers/buddies. But because Goodhair is only here one or two days a week, the collection of this past due loan often goes to me. I'll let Goodhair know the loan is past due, he'll tell me to call the customer. Then a week passes, I'll tell Goodhair the customer hasn't paid as agreed, and he'll text the customer. Then another week passes. Maybe we'll get a payment, maybe we won't.

I called this SC this morning:

Me: Hi, SC, this is Ghel at My Bank.
SC: Hi.
Me: You told me last week you had sent a payment for $3xx, but we only received a check for $1xx.
SC: Wooow…. <imagine the pretend surprise>
Me: <As if you didn't sign the effing check!> So you’re still past due $12x.xx for your August 23rd payment, and you’ll be due another $16x.xx for your September 6 payment, in two days.
SC: $13x?
Me: $16x.xx. Your regular payment amount.
SC: Hold on, I’ll write this down.
Me: Ok. <repeats above> Would you like me to total that for you?
SC: Yeah.
Me: Ok, that’s $29x.xx due on September 6.
SC: Ok. I should be able to get a check in the mail today.
Me: Ok. Thank you. <I won’t hold my breath.>

These small-balance loans that Goodhair does for his buddies are often the worst as far as trying to collect on them. Goodhair even tried to say last week that his initials shouldn't be on the loan - mine should. I said NO WAY! He made the credit decision, not me. I wouldn't have approved this loser for a loan.

[taxguykarl]

So this is typical?! What do the higher ups think of this?

[YamiNoHime]

This definitely needs to be brought to the attention of his superiors. I would think it falls under a minor abuse of power, wouldn't it?

[Ghel]

So this is typical?! What do the higher ups think of this?

They put up with it because Goodhair brings in multi-million dollar commercial loans. They don't care much about the loan for less that $5,000 that's chronically past due.

This definitely needs to be brought to the attention of his superiors. I would think it falls under a minor abuse of power, wouldn't it?

It's on the past due list that we go over at the loan meeting every week. Goodhair never attends those, though. And at this point, Goodhair says he wants to retire. He's semi-retired now, which is the main reason he's only in the office one or two days a week. I think if the higher ups complained too much, Goodhair would just quit/retire.

[YamiNoHime]

I guess that makes sense. Still aggravating for you

[Mental_Mouse]

I think if the higher ups complained too much, Goodhair would just quit/retire.

And this would be bad, because why again?

[greek_jester]

And this would be bad, because why again?

Agreed. After all, this would mean that he couldn't keep letting it slide, and whoever took over would be more likely to put their foot down about collecting on time or taking action.

[Ghel]

And this would be bad, because why again?

This is why:

...because Goodhair brings in multi-million dollar commercial loans.

The bank lives on Goodhair's connections to influential business owners. Without him, we'd have a much narrower profit margin. The higher ups don't want him to retire.

We're a small bank, and I get that the higher ups want to keep him... BUT he's a racist, sexist asshat. He fits the stereotype of the used car salesman. I would love to see the new branch manager take over Goodhair's loans so he can finally retire, just so I never see the jerk again.

[Mental_Mouse]

This is why:

The bank lives on Goodhair's connections to influential business owners. Without him, we'd have a much narrower profit margin. The higher ups don't want him to retire.

We're a small bank, and I get that the higher ups want to keep him... BUT he's a racist, sexist asshat. He fits the stereotype of the used car salesman. I would love to see the new branch manager take over Goodhair's loans so he can finally retire, just so I never see the jerk again.

The thing is, that's a situation where "a strength becomes a liability" for the bank... and it's also how bad behavior stays embedded in an organization. As long as they depend on him as a rainmaker, they're doing that much less to develop the connections and reputation of someone else, someone more competent and less problematic.

[earl colby pottinger]

Profit

This is why:

The bank lives on Goodhair's connections to influential business owners. Without him, we'd have a much narrower profit margin. The higher ups don't want him to retire.

Are they really sure they are making that much profit off him.

We use to have a salesman who made great deals, bring in sales worth 100's of thousands of dollars. It all looked good until our accountant finally had to time to analyst his sales, she found he was giving so many discounts and freebies that those big sales did not equal big profits, in-fact and few accounts we were losing money.

When the owner put his foot down, we even lost so of those big sales, yet company profits doubled. He may be making connections by offering all sorts of savings to the customers (ie lost profits to the bank).

[XCashier]

They put up with it because Goodhair brings in multi-million dollar commercial loans. They don't care much about the loan for less that $5,000 that's chronically past due.

But yet, if you don't collect that money, you are the one who gets in trouble over it.

We use to have a salesman who made great deals, bring in sales worth 100's of thousands of dollars. It all looked good until our accountant finally had to time to analyst his sales, she found he was giving so many discounts and freebies that those big sales did not equal big profits, in-fact and few accounts we were losing money.

A very good point. If Goodhair really is the wheeler-dealer he claims to be, someone should look into his doings. Something may be fishy there.

[Ghel]

I'm not defending Goodhair (I would never!) but I doubt there's anything illegal going on. Shady, possibly. Unethical, probably. And there's a large dollop of "good ol' boys club" in the mix.

There's another thing that came up today that goes along with this. One of Goodhair's customers has $7.5 million in loans with the bank. One of their smaller loans is past due $12 because the gal who handles the loan payments is too busy to make sure they get paid. I guess. They're constantly late, and Ted keeps reversing late charges because of their huge loan portfolio. Goodhair doesn't want us "bothering" the owner of the company with a $12 past due amount when he's got hundreds of thousands of dollars going between his accounts on a daily basis. And I get that their monthly payments on most of their loans are each over $10k a month. However, if his employee who is supposed to be taking care of these payments isn't doing her job, shouldn't the owner want to know? Ted finally got their accounts payable person involved and got automatic payments set up for the ones that have regular payment amounts. The loan that's $12 past due doesn't have that option, though, since the payment amount changes each month. And now Ted wants to pass the collection of these loans off to me. Yay.