The Incredible Exciting Meeting with our Bank
Well the meeting has ended, and I must say for the record that it has taken a considerable period of time since the end of dialogue for my heart rate to slacken and my breathing pattern to return to normal. Thus the delay in preparing this blog entry.
I will sum up the background as to why the meeting occured. Back in 2002 and before I was gainfully employed here, my employer (thus referred to as "the airport") sent out an RFP (request for proposal) for banking services. The bank I met with today in fact won the bid to become our depository bank. In fact, the terms they gave us were so generous that they are currently choking on them four years later because it was tied to interest rates and interest rates are now at a seven year high. Subsequently they wanted to change the terms of the contract from 2002. We said no. They started throwing around the famous "win-win" term in trying to come up with a solution. We said... "We are already winning", how can you possibly enrich us even further without cost you even more money?"
They were not amused...
Today's meeting was suppose to be the follow up with the "win-win". Thus my boss and I trudge down to an open conference room with 3 navy blue suits, 1 grayish black ensemble, and a female member paying more tribute to current fashion in a greenish suit jacket with black slacks then all the other suits combined. The prerequiste "sharing" of business cards ritual ensued followed by sublime niceties for another minute or two.
Then we are down to business. Blue suit #3 (whom none of us had ever met before) lauches into the win-win with the energy of champion race horse heading directly down the home stretch. He shares an incomprehensible analysis of the yield curve and boldly states that we need to buy some Federal government agency bonds from them.
And that was pretty much the highlight of the meeting for the bank. The rest of the meeting was taken up with mindlessly minor minions of data such as:
"All well and good Mr. Banker, but we also had an RFP and subsequent bid for our investment advisory services, that you had bid on and did not win. In fact Mr. Banker, I would not be far off base if I quoted Jeff Spicolli here in regards to the contents of your proposal: "Not even close, Bud!". "
"Based on the bonds you showed us, we have to hold them for over 4 years, but our investment policy ( which we are sure you read before coming here) clearly states we can not hold bonds longer than 3 years. Does this mean you have such a great relationship with Uncle Sam that you can get them to release our funds early unlike any other company on the planet?"
" While your at it, can you get my brother out of having to go to Iraq, Mr. Banker...."
I will sum up the background as to why the meeting occured. Back in 2002 and before I was gainfully employed here, my employer (thus referred to as "the airport") sent out an RFP (request for proposal) for banking services. The bank I met with today in fact won the bid to become our depository bank. In fact, the terms they gave us were so generous that they are currently choking on them four years later because it was tied to interest rates and interest rates are now at a seven year high. Subsequently they wanted to change the terms of the contract from 2002. We said no. They started throwing around the famous "win-win" term in trying to come up with a solution. We said... "We are already winning", how can you possibly enrich us even further without cost you even more money?"
They were not amused...
Today's meeting was suppose to be the follow up with the "win-win". Thus my boss and I trudge down to an open conference room with 3 navy blue suits, 1 grayish black ensemble, and a female member paying more tribute to current fashion in a greenish suit jacket with black slacks then all the other suits combined. The prerequiste "sharing" of business cards ritual ensued followed by sublime niceties for another minute or two.
Then we are down to business. Blue suit #3 (whom none of us had ever met before) lauches into the win-win with the energy of champion race horse heading directly down the home stretch. He shares an incomprehensible analysis of the yield curve and boldly states that we need to buy some Federal government agency bonds from them.
And that was pretty much the highlight of the meeting for the bank. The rest of the meeting was taken up with mindlessly minor minions of data such as:
"All well and good Mr. Banker, but we also had an RFP and subsequent bid for our investment advisory services, that you had bid on and did not win. In fact Mr. Banker, I would not be far off base if I quoted Jeff Spicolli here in regards to the contents of your proposal: "Not even close, Bud!". "
"Based on the bonds you showed us, we have to hold them for over 4 years, but our investment policy ( which we are sure you read before coming here) clearly states we can not hold bonds longer than 3 years. Does this mean you have such a great relationship with Uncle Sam that you can get them to release our funds early unlike any other company on the planet?"
" While your at it, can you get my brother out of having to go to Iraq, Mr. Banker...."
posted by Rich in Cincy | 12:20 PM
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