Sharing Daily Discoveries About Personal Finance And Business Topics

Always Checking For Conflict of Interests

This was an interesting story I heard where there were residents in a building that were wondering why every year fees have been going up with so many repairs being required according to reports. As it would appear due to a majority rules type of system most people in the building never bothered to read reports and just sign off everything as all is well.

Upon investigation ultimately what ended up being discovered is that the company and contractor being used for all the services actually was in a relationship with one of the key board members. So it’s not hard to put the pieces together afterwards where it benefited them to get as much work done in the building as possible even if it isn’t really needed.

It’s kind of surprising how many people still don’t even question if there are potential conflicts of interests involved whenever someone suggests that you must need a certain product or service versus allowing you time to shop around as an example. There are just way too many people that take advantage of others in these ways to make themselves richer.


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