I think my CEO is a secret mustachian!

[WaRpBeast]

I was at a breakfast meeting with my CEO today and he said some great mustachian things, so I thought I would share.

1. X department asked what their budget was for 2015, he said zero.  He said, no matter what we give you you'll find a way to spend it whether it is 50 or 500, so NO we're not giving you a budget.  Go out and look for the best opportunities then come tell us about them.  If they are right for our long term strategy we'll make the investment. 

2.  He said the average car loan is now 7 years.  He said in December 2014 when oil started dropping fast the Toyota Prius became the worst selling car in the US and Trucks and SUVs jumped to the highest volume category of vehichles sold.  He said, why the heck are people making 7 year bets on fuel cost because of a few months of oil down turn? 

3. The company was asked to join the "Best Employers" survey and declined.  He said the company doesn't value the things that survey values like having an onsite masseuse or cappuccino machine.  He said we want people who are fired up to come in and make a difference each day and people who like the people they work with. (Mind you we have great benefits and vacation policy that our competitors literally cannot beat.)

It's good to have him in charge following an abysmal prior CEO who funded everything and made the company basically worthless. 

[NICE!]

Sounds like a good dude to work for and have a beer with at the end of the day.

[Bajadoc]

That company will be there for the long haul. People should run their lives that way. That is the point of this forum that I am grateful I have found.

[gimp]

Zero-based budgeting is a very interesting cost-cutting measure that, I think, works very well for established, entrenched companies, with simple business models.

[frugaljo]

2.  He said the average car loan is now 7 years.  He said in December 2014 when oil started dropping fast the Toyota Prius became the worst selling car in the US and Trucks and SUVs jumped to the highest volume category of vehichles sold.  He said, why the heck are people making 7 year bets on fuel cost because of a few months of oil down turn? 

love it! that is so true!
My last meeting of the day yesterday consisted of everyone comparing business class flights, and declaration of only flying business class. (I just sat there quietly)
I prefer your meetings!

[retireatbirth]

I'd disagree with him on 1. You need to give your managers more latitude. He's micromanaging. He should judge them on the Investments they do make and reward them for not spending it all if they have a good reason not to.

[gomike]

I'd disagree with him on 1. You need to give your managers more latitude. He's micromanaging. He should judge them on the Investments they do make and reward them for not spending it all if they have a good reason not to.

Have you seen people use money, 99% of them are idiots. 

[WaRpBeast]

I'd disagree with him on 1. You need to give your managers more latitude. He's micromanaging. He should judge them on the Investments they do make and reward them for not spending it all if they have a good reason not to.

Have you seen people use money, 99% of them are idiots.

He had some pretty good examples of prior years bad decision making that led to on going waste of millions a year (we're in a bunch of contracts from before his tenure we aren't getting much value out of).  It isn't every department run off of zero budgeting, but he is trying to get folks to be more flexible and not just think in terms of the budget. 

[okits]

i like how he thinks. Agree on the car thing, and that those surveys tell only half the story, at best.

Let us know if this new CEO turns things around!

[forummm]

2.  He said the average car loan is now 7 years.  He said in December 2014 when oil started dropping fast the Toyota Prius became the worst selling car in the US and Trucks and SUVs jumped to the highest volume category of vehichles sold.  He said, why the heck are people making 7 year bets on fuel cost because of a few months of oil down turn? 

Why must the loan duration have anything to do with the duration of ownership? They aren't 7-year bets, they are immediate bets with continually depreciating value.

[James]

Sounds like a good guy to have as a boss, the devil is always in the details and we can pick at any decision and CEO makes, but the overall picture is what you were trying to get across and it sounds good!