H&R Block Makes Interim Scapegoat Jeff Brown Permanent Scapegoat

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Tuesday, 21 September 2010


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H&R Block, the tax preparation company teetering toward a Conrail-level financial collapse, has turned Interim-CFO Jeff Brown into Permanent Scapegoat CFO Jeff Brown, this after long-time CFO Becky Shulman got the f==k out of Dodge in April.

Whom did Conrail F--k Over?

Upon its formation in 1976, Conrail stated that "not one railroad company will go out of business because of our reincorporation as Conrail."

They were off by 89. Below is a list of the companies that went out of business because of Conrail. Count 'em, there's 89.

Allentown Terminal Railroad
Ann Arbor Railroad
Baltimore and Eastern Railroad
Bay Shore Connecting Railroad
Beech Creek Railroad
Buffalo Creek Railroad
Central Indiana Railway
Central Railroad of New Jersey
Central Railroad of Pennsylvania
Chicago, Kalamazoo and Saginaw Railway
Chicago River and Indiana Railroad
Cleveland and Pittsburgh Railroad
Cleveland, Cincinnati, Chicago and St. Louis Railway
Connecting Railway
Dayton Union Railway
Delaware Railroad
Delaware and Bound Brook Railroad
Detroit Manufacturers Railroad
Dover and Rockaway Railroad
East Pennsylvania Railroad
Erie and Kalamazoo Railroad
Erie Lackawanna Railway
Erie and Pittsburgh Railroad
Fort Wayne and Jackson Railroad
Holyoke and Westfield Railroad
Hudson River Bridge Company at Albany
Indianapolis Union Railway
Ironton Railroad
Joliet and Northern Indiana Railroad
Kalamazoo, Allegan and Grand Rapids Railroad
Lackawanna and Wyoming Valley Railway
Lehigh and Hudson River Railway
Lehigh and New England Railway
Lehigh Valley Railroad
Little Miami Railroad
Mahoning Coal Railroad
Mahoning and Shenango Valley Company
Michigan Central Railroad
Mount Hope Mineral Railroad
New York Connecting Railroad
New York and Long Branch Railroad
Niagara Junction Railway
North Brookfield Railroad
North Pennsylvania Railroad
Northern Central Railway
Norwich and Worcester Railroad
Penn Central Transportation Company
Penndel Company PC
Pennsylvania and Atlantic Railroad
Pennsylvania-Reading Seashore Lines
Pennsylvania Tunnel and Terminal Railroad
Peoria and Eastern Railway
Philadelphia, Baltimore and Washington Railroad
Philadelphia, Germantown and Norristown Railroad
Philadelphia and Trenton Railroad
Pittsburgh, Fort Wayne and Chicago Railway
Pittsburgh, Youngstown and Ashtabula Railway
Plymouth Railroad
Port Reading Railroad
Raritan River Railroad
Reading Company
Rochester and Genesee Valley Railroad
Shamokin Valley and Pottsville Railroad
South Manchester Railroad
Trenton-Princeton Traction Company
Troy and Greenbush Railroad PC
Union Depot Company
Union Railroad of Baltimore
United New Jersey Railroad and Canal Company
Waynesburg Southern Railroad
Waynesburg and Washington Railroad
West Jersey and Seashore Railroad
Wharton and Northern Railroad
Wilmington and Northern Railroad
American Contract Company
Communipaw Central Land Company
Consolidated Real Estate Company
Despatch Shops, Inc.
Eastern Real Estate Company
Erie Land and Improvement Company
Erie Land and Improvement Company of Pennsylvania
Hoboken Ferry Company
Hudson Realty Company
Lawroy Land Company
Manor Real Estate Company
New York Central Development Corporation
Penndiana Improvement Corporation
Providence Produce Warehouse Company
United Real Estate Company

"Blah, blah, blah," said whomever the hell is the current CEO of the company who squandered a monopoly in the tax-prep biz by not getting former employee John Hewitt --the man who started Jackson-Hewitt and Liberty Tax-- to sign a no-compete contract. "Becky Shulman, best in her future endeavors, blah blah. On the road to recovery, blah, blah. Blame the District Managers, blah, blah."

In the midst of all the f--king up H&R Block has done in the last ten or so years, their stock prices ($12.90 -0.33-2.49%) remain in the sh-tter.

Brown, who has been with the company for the past eight years, still hasn't learned his lesson.

Kansas City, Missouri-based H&R Block has seen a series of people getting the f--k out of Dodge in the past six months. In July, Chief Executive Russell Smyth quit and was replaced by Alan Bennett.

In the same month, Thomas Bloch, former CEO and son of co-founder Henry Bloch, quit the board, citing disagreements over the company's business strategy with Svengali-like Chairman Dick Breeden.

For those that are left behind, industry insiders suggest kissing all those lovely $31.00 stock options that replaced actual raises goodbye, and revising their resumes on Careerbuilder.

The funny story above is a satire or parody. It is entirely fictitious.

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