What would happen to the Chairman of your employer if the company lost track of $56 million in receivables? And $12 million were past due with no efforts being made to recover them? Or 25% of the corporate credit card purchases were unaudited and unapproved by management? What if cash on hand wasn’t earning interest? What if the entries in the books didn’t meet accounting standards? Or expenses didn’t have supporting documentation?
You’d want the Chairman, most of the board, and the corporate executives fired!
But this is exactly the state of affairs at the Wisconsin Economic Development Corporation (WEDC). The quasi-private corporation that Governor Walker created to replace the Wisconsin Department of Commerce. So all that hype and campaign rhetoric about running government like a business? Well, the can’t even run a government business like a business. If this weren’t a government entity, it’s a good chance government regulators would be taking this over in order to straighten it out.
So who is the Chairman who’s head should be on the block? Well none other than Governor Scott Walker! He just hasn’t a clue on how to manage…one more reason to tell him “You’re Fired” in 2014!