Sammy was thinking to himself: “Who would have ever believed it?” And who would? Flashback: So much had happened to Samm
Posted: Mon May 02, 2022 7:31 am
Sammy was thinking to himself: “Who would have
ever believed it?” And who would?
Flashback: So much had happened to
Sammy. Years before, he had quickly passed the CPA exam.
While he was one of the fastest risers ever at ZW& Co, he had
been asked by his buddies Randy and Paul to go in with them in
their own new firm.
During this time, Randy and Paul had convinced some clients that
they would get a better deal with them, and besides, the clients
had dealt with them all along, anyway. Sammy had been
concerned about the no compete clause they had signed when they
first signed up at ZW & Co., and Paul had tried to convince
Sammy that there was no trouble. Paul’s brother over at Sooem &
Tortz, Attorneys at Law, had assured him that it probably was
unenforceable, although the case he was relying on was from out of
state and dealt with a much longer no compete period (3 years
instead of one year). Randy and Paul went on, taking some
clients with them, later facing the wrath of the ZW & Co. in
the courtroom. Didn’t help that Paul (but unknown to Randy)
had copied client files. One bullet missed.
Thankfully, he had survived the Kornyvirus epidemic of
2020-22. But, some dear older friends had somehow contracted
it and had died. Thankfully, the vaccinations had saved
society but it took years to get back to normal. Some things never
came back….
Not inconsequently, Sammy and Janet
continued seeing each other more and more, first at CPE breakfasts
in Houston, then after hours, and finally, hey- they got married.
Not surprisingly, she had quit the oppressive big 3 firm. They now
had two great kids, and their own practice together. In fact, the
firm had grown remarkably by word of mouth into a boutique firm
primarily concentrating in oil & gas consulting (particularly
as to reserves); tax compliance and planning; accounting services;
some audit; and litigation consulting. There were ten other
partners other than Janet and him at The Woodlands, but Janet was
now working quite a bit from home, telecommuting. And believe it or
not, she had brought in a large number of new clients, all adept at
telecommuting. Wonderful stuff, this telecommuting and technology!
She could do her work usually when she wanted, and how she
wanted. She did all of this to slow down when the kids “came”
and to stay at home with them, but with so more control of her
time, she was almost doing as much as ever. She was the
success story in so many ways, balancing family, work and life in
general. And, there was no telling what she would have done
if she had gone into the oil business on her own! But she
loved what she was doing and was being paid handsomely for it.
Sammy never forgot his pained decision to leave ZW&
Co. It was one of the hardest decisions in his life. He
really loved it there, and he clearly was on the fast track.
But, the next step to partner could have taken around another four
years or so. Typically impatient, he wanted to move ahead
faster. His expertise was there, but the firm had its rules on
experience and promotion.
As earlier noted, Janet had left that big 3 firm (now, sadly,
there were only two ‘big 2’ firms after the huge GIA
scandal). She immediately hung out her shingle, and practiced
primarily in oil & gas as an oil & gas consultant, where
she immediately had more business than she could handle-(and still
did, even today and even at her premium rates). Her reputation had
indeed preceded her, and she needed help with the non-consulting
part of her practice. So, it made sense for Janet and Sammy to team
up, particularly since they were just married.
So, back in times when not worrying if
a salary check would be deposited (or if a check would bounce), the
world was there, wide open and full of
opportunity. While hating to give up a very good thing
and the security that came with it, he none the less jumped ship,
but left on very favorable terms. That couldn’t be said for Randy
or Paul. And, while he didn’t want to admit it, the untimely
death of Vince, his dear friend and mentor, as the result of a
heart attack probably contributed to his decision, as well.
In typical male fashion (a/k/a ego), Sammy thought his
own good name (remember the Junior College scandal and all
the press?) and expertise would produce significantly higher
“dividends” than a salary at ZW & Co., and he thought he could
attract some significant (translation- huge) complementary
business. He was partially correct.
The growth of the new firm, Taylor & Taylor CPAs had been
typically bumpy on the non consulting part of the
business- in other words, on Sammy’s part. It hurt his ego
that Janet was the clear breadwinner and rain maker, and he
desperately had wanted to prove himself, too. But a
quality practice takes time to grow.
He also found out that being the big boss isn’t what it is all
cracked up to be, management courses at SHSU and continuing
education notwithstanding. Let’s not even mention the cash flow
worries of the year when the first baby came and Janet could not
work. And yes, who gets the responsibility for all the
paperwork? You do. And after dealing with all
of those management issues, you still have to go out and actually
try to do the business of the firm- in other words, do
something billable!
Sitting there in reflection, he wondered if
purposefully not choosing to go more heavily into auditing
the larger companies would have mattered. After all, the
clients were there. But--- well, you can wonder about things
until they make you crazy.
You see, Sammy was now trying to take life a little
slower, particularly after being scared by a recent
medical emergency that turned out to not
be a heart attack. The doctor had said he was under too much
stress.
He remembered what happened to Vince and thought of the kids and
Janet- and he knew he had too much to live for. The
other work prestige just wasn’t as important. After all, life was
good, and he wanted to keep it that way. Somehow the thought of
simply giving the family a large life insurance payoff if he died
didn’t really appeal to him, he wanted to be around to share with
them their life experiences. Apparently, his dear friend
Vince was still mentoring him, even today.
While looking at pictures of Janet and the kids (the pictures
were all already getting old, he needed to update them someday- but
put it off… put it off…), he traveled back in time remembering with
fondness their wedding.
Being the ‘country bunch’ that they were, this had been a good
old hill country wedding, with all the attendant activities
thereto, including barbeque.
Most Texans know that really good
barbeque is like wine- it takes time. You have to do it
right, which means that (along with great care and deliberate
attention to its preparation) the slower you cook it- the better.
If hurried, it is not near as good. (Aside: Ever been
around those good old mesquite coal embers in a “pit” or trough,
while the meat is suspended above it on “chicken” wire, as you
baste it and turn it? Chicken, mutton, briskets or sausage- can’t
be beat. But, it takes time and patience!
Once you have had the “good stuff”, that stainless steel prepared
or other so called “BBQ” stuff cannot compare.)
He recalled a friend, Ed Summers, had once said that a
good life was much like BBQ- it takes
time and careful tending. Ed had also suggested that there
really should be no “dividing line”
between one’s professional life and personal life- it should
all be one core set of values-
not one set of values for
personal and another set for “work.” Sammy shook his
head, thinking how simple but ever so true those observations were.
He hoped he would never forget them.
Well, so much for quiet time, he had to get back, at least for a
moment, to running the practice. He was looking over some
additional new suggested ad bylines for the online ad on
FaceMask to compliment those already there: 1. Come be a part
of the best client list in Houston. 2. Our service cannot be
compared to any other firm. 3. Debit & Credits?
Leave the mystery to us.
Being kind of distracted today, he handed the list to his office
manager and asked her to make sure the ad bylines were within the
TSBPA’s Rules, but he also wanted them to be effective as marketing
tools, as well. The ads were not cheap, after all. The
manager would report back later.
Well, one (handed off) task done! Not really wanting to
work, Sammy started going off into his memories again and
remembered back to the Pandemic of 2020-2021. He had lost his
mother to the virus as had Janet. So sad, and so many good people
lost. He then remembered the many bankruptcies of the era and the
numerous good businesses and people that lost it all. But he also
remembered the politics and fears that seemed to skew the recovery
effort. But eventually it worked out, and people got to go back to
*almost* normal. The changes were notable.
Later in the afternoon, he was surprised (and almost fell out of
the chair) when he received a visit from Mr. Glenn Zack, one of the
founding partners at ZW& Co. Glenn was quite the
epitome of the “elder” partner of a firm, and you could almost feel
his aura when he came into the room. After catching up on things,
the bombshell fell: ZW & Co. wanted Taylor, Taylor & Co. to
merge with them.
After sucking some air, Sammy and Glenn continued the
discussions. In general, ZW & Co. wanted to expand into
The Woodlands, had never wanted to lose Sammy, and in general
offered other inducements such as higher income, pensions, and the
ability to manage and oversee certain areas and clients that he had
always wanted to do.
A moment of clarity overcame Sammy: he knew Glenn was really
wanting Janet’s consulting business, which had continued to blossom
(actually explode!). Let’s face it, she was the business. She still
accounted for probably 60% of the firm billings, even today.
Anyway, allegedly all of this was for various business
reasons and also the fact that without a doubt, Taylor, Taylor
& Co. had the highest ratings of any firm in the area, although
it clearly was not the largest. While much more talk ensued,
that was the gist of the meeting. And it was so nice not doing it
via Zoom, as so many meetings were held in the early 2020’s.
People contact still mattered!
Glenn asked Sammy to talk it over with Janet and the other
partners, and hopefully they could meet next week at Tony’s (a very
fancy restaurant in Houston). Sammy began remembering the
troubles involved with merging with two much smaller firms- the
personnel issues, the client issues, the lease problems, the
computer issues, etc. But, “Relax!” Sammy told
himself. “One thing at a time.”
What a day. What a life! Thinking
about how his personal and professional life had blossomed and how
he and Janet had been so blessed over the years, Sammy thought:
“Who would have ever believed
it?”
ever believed it?” And who would?
Flashback: So much had happened to
Sammy. Years before, he had quickly passed the CPA exam.
While he was one of the fastest risers ever at ZW& Co, he had
been asked by his buddies Randy and Paul to go in with them in
their own new firm.
During this time, Randy and Paul had convinced some clients that
they would get a better deal with them, and besides, the clients
had dealt with them all along, anyway. Sammy had been
concerned about the no compete clause they had signed when they
first signed up at ZW & Co., and Paul had tried to convince
Sammy that there was no trouble. Paul’s brother over at Sooem &
Tortz, Attorneys at Law, had assured him that it probably was
unenforceable, although the case he was relying on was from out of
state and dealt with a much longer no compete period (3 years
instead of one year). Randy and Paul went on, taking some
clients with them, later facing the wrath of the ZW & Co. in
the courtroom. Didn’t help that Paul (but unknown to Randy)
had copied client files. One bullet missed.
Thankfully, he had survived the Kornyvirus epidemic of
2020-22. But, some dear older friends had somehow contracted
it and had died. Thankfully, the vaccinations had saved
society but it took years to get back to normal. Some things never
came back….
Not inconsequently, Sammy and Janet
continued seeing each other more and more, first at CPE breakfasts
in Houston, then after hours, and finally, hey- they got married.
Not surprisingly, she had quit the oppressive big 3 firm. They now
had two great kids, and their own practice together. In fact, the
firm had grown remarkably by word of mouth into a boutique firm
primarily concentrating in oil & gas consulting (particularly
as to reserves); tax compliance and planning; accounting services;
some audit; and litigation consulting. There were ten other
partners other than Janet and him at The Woodlands, but Janet was
now working quite a bit from home, telecommuting. And believe it or
not, she had brought in a large number of new clients, all adept at
telecommuting. Wonderful stuff, this telecommuting and technology!
She could do her work usually when she wanted, and how she
wanted. She did all of this to slow down when the kids “came”
and to stay at home with them, but with so more control of her
time, she was almost doing as much as ever. She was the
success story in so many ways, balancing family, work and life in
general. And, there was no telling what she would have done
if she had gone into the oil business on her own! But she
loved what she was doing and was being paid handsomely for it.
Sammy never forgot his pained decision to leave ZW&
Co. It was one of the hardest decisions in his life. He
really loved it there, and he clearly was on the fast track.
But, the next step to partner could have taken around another four
years or so. Typically impatient, he wanted to move ahead
faster. His expertise was there, but the firm had its rules on
experience and promotion.
As earlier noted, Janet had left that big 3 firm (now, sadly,
there were only two ‘big 2’ firms after the huge GIA
scandal). She immediately hung out her shingle, and practiced
primarily in oil & gas as an oil & gas consultant, where
she immediately had more business than she could handle-(and still
did, even today and even at her premium rates). Her reputation had
indeed preceded her, and she needed help with the non-consulting
part of her practice. So, it made sense for Janet and Sammy to team
up, particularly since they were just married.
So, back in times when not worrying if
a salary check would be deposited (or if a check would bounce), the
world was there, wide open and full of
opportunity. While hating to give up a very good thing
and the security that came with it, he none the less jumped ship,
but left on very favorable terms. That couldn’t be said for Randy
or Paul. And, while he didn’t want to admit it, the untimely
death of Vince, his dear friend and mentor, as the result of a
heart attack probably contributed to his decision, as well.
In typical male fashion (a/k/a ego), Sammy thought his
own good name (remember the Junior College scandal and all
the press?) and expertise would produce significantly higher
“dividends” than a salary at ZW & Co., and he thought he could
attract some significant (translation- huge) complementary
business. He was partially correct.
The growth of the new firm, Taylor & Taylor CPAs had been
typically bumpy on the non consulting part of the
business- in other words, on Sammy’s part. It hurt his ego
that Janet was the clear breadwinner and rain maker, and he
desperately had wanted to prove himself, too. But a
quality practice takes time to grow.
He also found out that being the big boss isn’t what it is all
cracked up to be, management courses at SHSU and continuing
education notwithstanding. Let’s not even mention the cash flow
worries of the year when the first baby came and Janet could not
work. And yes, who gets the responsibility for all the
paperwork? You do. And after dealing with all
of those management issues, you still have to go out and actually
try to do the business of the firm- in other words, do
something billable!
Sitting there in reflection, he wondered if
purposefully not choosing to go more heavily into auditing
the larger companies would have mattered. After all, the
clients were there. But--- well, you can wonder about things
until they make you crazy.
You see, Sammy was now trying to take life a little
slower, particularly after being scared by a recent
medical emergency that turned out to not
be a heart attack. The doctor had said he was under too much
stress.
He remembered what happened to Vince and thought of the kids and
Janet- and he knew he had too much to live for. The
other work prestige just wasn’t as important. After all, life was
good, and he wanted to keep it that way. Somehow the thought of
simply giving the family a large life insurance payoff if he died
didn’t really appeal to him, he wanted to be around to share with
them their life experiences. Apparently, his dear friend
Vince was still mentoring him, even today.
While looking at pictures of Janet and the kids (the pictures
were all already getting old, he needed to update them someday- but
put it off… put it off…), he traveled back in time remembering with
fondness their wedding.
Being the ‘country bunch’ that they were, this had been a good
old hill country wedding, with all the attendant activities
thereto, including barbeque.
Most Texans know that really good
barbeque is like wine- it takes time. You have to do it
right, which means that (along with great care and deliberate
attention to its preparation) the slower you cook it- the better.
If hurried, it is not near as good. (Aside: Ever been
around those good old mesquite coal embers in a “pit” or trough,
while the meat is suspended above it on “chicken” wire, as you
baste it and turn it? Chicken, mutton, briskets or sausage- can’t
be beat. But, it takes time and patience!
Once you have had the “good stuff”, that stainless steel prepared
or other so called “BBQ” stuff cannot compare.)
He recalled a friend, Ed Summers, had once said that a
good life was much like BBQ- it takes
time and careful tending. Ed had also suggested that there
really should be no “dividing line”
between one’s professional life and personal life- it should
all be one core set of values-
not one set of values for
personal and another set for “work.” Sammy shook his
head, thinking how simple but ever so true those observations were.
He hoped he would never forget them.
Well, so much for quiet time, he had to get back, at least for a
moment, to running the practice. He was looking over some
additional new suggested ad bylines for the online ad on
FaceMask to compliment those already there: 1. Come be a part
of the best client list in Houston. 2. Our service cannot be
compared to any other firm. 3. Debit & Credits?
Leave the mystery to us.
Being kind of distracted today, he handed the list to his office
manager and asked her to make sure the ad bylines were within the
TSBPA’s Rules, but he also wanted them to be effective as marketing
tools, as well. The ads were not cheap, after all. The
manager would report back later.
Well, one (handed off) task done! Not really wanting to
work, Sammy started going off into his memories again and
remembered back to the Pandemic of 2020-2021. He had lost his
mother to the virus as had Janet. So sad, and so many good people
lost. He then remembered the many bankruptcies of the era and the
numerous good businesses and people that lost it all. But he also
remembered the politics and fears that seemed to skew the recovery
effort. But eventually it worked out, and people got to go back to
*almost* normal. The changes were notable.
Later in the afternoon, he was surprised (and almost fell out of
the chair) when he received a visit from Mr. Glenn Zack, one of the
founding partners at ZW& Co. Glenn was quite the
epitome of the “elder” partner of a firm, and you could almost feel
his aura when he came into the room. After catching up on things,
the bombshell fell: ZW & Co. wanted Taylor, Taylor & Co. to
merge with them.
After sucking some air, Sammy and Glenn continued the
discussions. In general, ZW & Co. wanted to expand into
The Woodlands, had never wanted to lose Sammy, and in general
offered other inducements such as higher income, pensions, and the
ability to manage and oversee certain areas and clients that he had
always wanted to do.
A moment of clarity overcame Sammy: he knew Glenn was really
wanting Janet’s consulting business, which had continued to blossom
(actually explode!). Let’s face it, she was the business. She still
accounted for probably 60% of the firm billings, even today.
Anyway, allegedly all of this was for various business
reasons and also the fact that without a doubt, Taylor, Taylor
& Co. had the highest ratings of any firm in the area, although
it clearly was not the largest. While much more talk ensued,
that was the gist of the meeting. And it was so nice not doing it
via Zoom, as so many meetings were held in the early 2020’s.
People contact still mattered!
Glenn asked Sammy to talk it over with Janet and the other
partners, and hopefully they could meet next week at Tony’s (a very
fancy restaurant in Houston). Sammy began remembering the
troubles involved with merging with two much smaller firms- the
personnel issues, the client issues, the lease problems, the
computer issues, etc. But, “Relax!” Sammy told
himself. “One thing at a time.”
What a day. What a life! Thinking
about how his personal and professional life had blossomed and how
he and Janet had been so blessed over the years, Sammy thought:
“Who would have ever believed
it?”