Our management, even at the highest levels, (our founder an Board Chairman was a major university college professor of business) was proud and encouraged using customer down payments as working capital to design new products. It sometimes made things really exciting in engineering when we realized we were unable to meet the specifications we had sold! I do agree with you it's a tacky thing to do. We did eventually get into trouble with the FCC over our AM Stereo radio transmitters. We also had a giant catalogue of products (like a Sears Catalogue of Broadcast equipment) from which folks could things. We never saw the parts-they were all drop shipped from the manufacturer. Our cost was normally 1/3 of the retail price we sold them for. I also thought that was tacky, but I gratefully deposited my paycheck each week for 10 years! Mike Moore On Oct 14, 2013, at 3:00 PM, Keith Boonstra <kboonstra.zeegroup@xxxxxxxxx> wrote: On custom manufactured stuff I have no objection at all to the practice of requiring 1/3 or even 1/2 deposit to protect against the customer who deals in bad faith. That's just good business sense and we willingly do that all the time - both ways. But charging 100% before performing any service or buying raw materials is simply using your customer's cash as working capital to do someone else's work. And that's not fair business policy. Keith Boonstra On Mon, Oct 14, 2013 at 5:07 PM, Michael Moore <mmoore8425@xxxxxxx> wrote:
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