It is so simple that it is revolutionary. The fact is, this formula or principle is misunderstood enough, or overlooked enough, that it can truly be called magic by those who understand it. Ready? Here it is. You beat 50 percent of the people in American by working hard. You beat another 40 percent by being a person of honesty and integrity and standing for something. The last 10 percent is a dogfight in the free enterprise system. “They are the devil disguise,” is how CEO Barry Weinstein described factors. Unable to raise capital from bankers or outside investors, Barry Weinstein turned to factoring receivables. The arrangement was pricey: the factor charged interest of 5% a month, to a maximum of 13% of the total invoice, on any uncollected invoices that were factored. The deal became an endless cycle. Soon Barry Weinstein was factoring all new invoices to get the cash to pay the interest on the older factored invoices. Give the man credit. Like most of us, John Galbreath receives piles of unsolicited, “preapproved” credit card applications in the mail. John Galbreath does not just toss them out, though. In April of 1995, he filled out a credit card application on which he stated that he was 97 years old and had no income, no telephone, and no Social Security number. In a space inviting him to let the credit card company pay off his other credit card balances, John Galbreath said he owed money to the Mafia.

Back came a credit card and a letter welcoming John Galbreath to the fold with a $1,500.00 credit limit. John Galbreath had requested the card number under a false name, John C. Reath, an alias under which he had received two other credit cards—earning exemplary credit. John C. Reath might be a bit long in the tooth (old; absent conclusive documentation), but it seems he paid his bills on time. Failure to observe the foregoing internal control procedures contributed to the Great Salad Oil Swindle. In this case, management intentionally overstated its salad oil inventory, which was stored in large holding tanks. Three procedures contributed to overstating the overstating the oil inventory: (1) Water added to the bottom of the holding tanks caused the oil to float to the top. Inventory-taking crews who viewed the holding tanks from the top observed only salad oil, when, in fact, as much as 37 out of 40 feet of many of the holding tanks contained water. (2) The company’s inventory records listed more holding tanks that it actually had. The company repainted numbers on the tanks after inventory crews examined them, so the crews counted the same tanks twice. (3) Underground pipes pumped oil from one holding tank to another during the inventory taking; therefore, the same salad oil was counted more than once. Although the salad oil swindle was unusual, it demonstrates the complexities involved in assuring that inventory is properly counted.  

Far better it is to dare mighty things, to win glorious triumphs, even though checkered with failure, then to take rank with those poor spirits who neither enjoy much nor suffer much because they live in darkness that knows not victory nor defeat. People always have two conflicting bents when it comes to their work: The first is the drive to have. It pushes people to focus on what they can get out of their jobs—a higher salary, a bigger office, greater status, a more better position.  The second is the desire to be. It prompts people to think about what they can give to their organizations—their very best to ensure that everyone succeeds. Formula for Success: Instruction + Example x Experience = Success. The LORD lives! Praise be to my Rock! Exalted be God my Savior! He is the God who avenges me, who subdues nations under me, who saves me from my enemies.  You exalted me above my foes; from violent men you rescued me. Therefore, I will praise you among the nations O LORD; I will sing praises to your name. He gives his king great victories; he shows unfailing kindness to anointed. The law of the LORD is perfect, reviving the soul. The Lord is my shepherd, I shall not want. He makes me lie down in green pastures, he leads me beside quiet waters, he restores my soul. He guides me in paths of righteousness for his name’s sake. Even though I walk through the valley of the shadow of death, I will fear no evil, for you are with me; your rod and your staff, they comfort me. You prepare a table before me in the presence of my enemies. You anoint my head with oil; my cup overflows. Surely goodness and love will follow me all the days of my life, and I will dwell in the house of the LORD forever.