How To Fund Projects Without Fixed Or Floating Assets & The Dangers Of Discussing Cars With Employers & Relatives
Dan test drove some C class Mercs on the weekend. I pulled some strings earlier in the week to set it up. I don’t know why I bothered.
“I think I want something fun…maybe a Golf GTI.”
So we’re back to the GTI. Dancin’ Dan’s last hurrah. His wife’s expecting their 3rd child soon, so fun’s going to be at a premium. At least he’s not as bad as my brother in law, Louis.
I’ve been considering buying a 2nd hand merc. The sort of car that wouldn’t leave the metro area and can be lent to teenage children without inducing a heart attack in its owner.
I made the fatal mistake of showing Louis the model I’ve been thinking about when I was at my sister’s the other night.
“It’s still got the classic merc lines. If we go back to the 50s and 60s you can see the shape morph but still maintain its integrity…………………………………………” This went on for so long and was so convoluted, that I started to feel a bit anxious, on the verge of hyperventilation. You know why? Because it was like torture. Because after 30 years, I should know better.
We were driving down the coast one time. At the turn-off to Raymond Terrace, I stupidly asked him what he thought about Chris Bangle’s controversial BMW design. He finally ran out of breadth at Hornsby. One suburb later, we drove past his old school, like some freaked-out deer caught in the headlights of an 18 wheeler, knowing that death was near, but doing nothing to avoid it, I pointed at the school. Game over. He was still talking to himself after he dropped me off in Mosman. It’s hard to work out who’s crazier. My money’s on me.
And talking about money, Dan was telling me that he’s worked out a way to fund IT companies that have contracts with bona fide customers but no cash. I naively ventured that wasn’t this just accounts receivables funding? To which he replied: “It is, but the client doesn’t need any receivables.”
What am I going to say to something like that?
A few hours later, he filled me in by telling me it only took just one receivable. That is the entity issuing the contract or project.
“We act as the conduit, young Jimmy. They do it all the time in the states, write a white paper about.”