Wishful, many thanks for reminding me of that fiasco. Those of us who worked for franchises were not affected, but this board saw a vast number of complaints about the reduction in receptionist hours. This is an excellent example of managing an investment while they should have been running a business, as well as recognizing the importance of the client. I have never suggested that the stock price be ignored. But neither should business principles.be ignored
Another example: repeated "reductions in force" (rifs) that are carried out primarily to make the net earnings figures look good. Thanks again,
cf, you are so right that management overlooks running the company (and serving the clients who pay the bills). Remember the debacle the year they decided to cut receptionist hours? Preparers had to interrupt the clients in front of them a hundred times to answer the phones or attend to the front desk, ticking off both clients and preparers. The next year they decided recepts were "the face of the company" and had to be there at all times, until things slowed down in March and they again cut their hours. The company is clearly not being run based on providing the service clients come for, but on how much it costs the company (and what next week's stock price and management bonuses will be).
I still regard Block's live training as the best there is available. The reason is that you get practice problems and can apply what you heard in class and read in the texts. That is how you digest what you are learning and become nimble with the concepts at the tax desk. I go to many tax seminars every year and have taken two years' worth of graduate courses in taxation. I learn a lot of theory, but nothing takes the place of actually doing returns or pieces of them to put that knowledge to work
This opinion hit home after I recently spent weeks trying to get a grasp of the new net investment income tax. I read the regs, countless journal articles from my professional associations, and listened to speakers at seminars. Someone in my office was doing projections for a partnership and asked me why the NIIT was so high. Now that I had a real problem to work with, I was able to use all that theory and when I was done I could say I finally had a grasp on it. Block's courses offer that to every preparer.They should treat them like gold instead of like slaves who carry in the gold.
How I yean for a Block course to unravel the new regs on repairs vs. capital expenses!
"I wonder if the senior staff will ever get their act together concerning our preseason training. there are problems every year" (a3thirdseater)
Your question can be expanded to include support for the tax pros in general. There are exceptions: the Tax Institute; the quality (but not necessarily the timeliness) of the training material etc; it often seems as if no one in power cares a wit about how well HRB functions during tax season. Take that ALTWS I mentioned in an earlier post. I'm betting it is still there, ready to be selected and still not able to handle cap gains tax. No one seems to give a … . As a 20 year pro, do you remember the old Block All States Tax Guide?
Management is so busy truing to grab every penny and spend the absolute least that they forget to actually run the company,
Although I don't always agree with the results of the ADA (or OHSA) rules, this lawsuit should never have happened. It is a big negative for Block in a number of ways. For starters, it is generating negative publicity for Block for the entire period the lawsuit continues. Next will be the ongoing legal expenses --both internal and external -- for defending against the suit.itself. And then there is the cost of whatever settlement is worked out. Sometimes the disabled might be difficult to work with, but the law is likely clear. And then there's the question "why has Block been ignoring this source of tax clients for so long?"
unfortunately these amenities are available but your District Manager apparently chooses not to acquire them. Many Block offices have the things you wish. Local management does run the show, if they have the guts.
"HRB's troubles began when someone decided it should be a growth stock rather than just a dividend-paying stock with a great cash flow." Don't know who said this for the first time, but would like to thank him or her for the insight that explains so many of Block"s problems. I confess that I didn't understand the original post when I first read it. Since then I have begun to appreciate the wisdom behind that post. Full credit belongs to that poster for the ideas behind many of my posts.
After everyone sobers up the market takes off like a rocket. I plan to stop trading until the time between Christmas and New Years. The weasels are out, always a good sign.