Endless Meetings Causing Financial Loss
Financial Management

Endless Meetings Causing Financial Loss

This was hilarious I thought as a reporter was talking about how here in Vancouver there was a meeting conducted on how to save money by cutting the costs of certain items to reach a savings goal of about $20,000. If this is accurate, it was reported that to conduct the meeting itself they had to pay for 39 directors to attend the session and each supposedly got $534 in stipends. That bill for the day alone was $20,826. To make it worst, nothing was decided upon in the meeting which means they will have another one.

I’m sure everyone’s reaction is the same on what is clearly a department to look at where cost cutting measures could easily save them $20,000 huh? This is actually very common for companies that become so big where people don’t seem to care much about the money they are spending and it can just result in an endless loop of fundamentally useless meetings that just drain the company out of its funds.

This is just a very good example of that where when you have the money you still need to make sure it’s actually being spent wisely. Just the $534 worth of stipends alone sounds ridiculous to me. Are people eating A5 Wagyu steaks or something?

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