The pawn industry is built on sacrificing the future good for current necessity.
Or, in the words of the former Bank of Queensland boss Stuart Grimshaw - who now runs Texan pawn shop operator EZCorp: "Respectfully meeting our customers' desire to access cash."
We wonder how desperate Grimshaw was earlier this year when instigating the latest cost-saving restructure of the executive suite. It cost him the services of former Myer chief financial officer, Mark Ashby.
"This move is part of the company's continuing efforts to align its corporate organisational and expense structure with its more simplified business model," said EZCorp in an SEC filing when Ashby hit the exit.
At least it worked. Corporate costs were down significantly, and underlying earnings were up strongly when the company reported last month.
And investors got some details on what it cost to eject Ashby - who took up the role soon after following Myer boss Bernie Brookes out the Myers door in 2015.
The good news is that he left with more than a box of hock shop specials.
In 2015, Ashby received a $US665,000 sign-on bonus. Last financial year he received a $US732,000 severance payment and relocations costs back to Australia - which meant he still earned close to $US2 million despite being cut loose in May.
But life ain't that easy in Texas for Ashby's former boss, Grimshaw.
The EZCorp king pin has watched his remuneration drop from $US8.77 million in 2015, to $US7.5 million in 2016, and down again to $US5.8 million in 2017.
This partly reflects the fact that his sign on, and loyalty bonuses, have run their course and he is now reliant on generating actual performance bonuses.
At least Grimshaw can still collect a little money on the side as chairman of local hock shop, Cash Converters. Despite EZCorp holding a controlling stake in the Perth-based company, Grimshaw was allowed to collect $130,000 as chairman last year.
Thin Prophets
Angus Geddes' investment shop, Fat Prophets, managed to get off lightly when it was found to have unfairly dismissed an employee earlier this year. But boy did it get a tongue lashing from the Fair Work Commission.
The trouble began in September last year when employee, Jeffrey Parkes, asked to work from home in Byron Bay where his wife was considering a job offer at "jetsetter lifestyle" clothing brand Rue Stiic.
Fat Prophets was considering opening an office up the road on the Gold Coast, so it was agreed he could work from home until the new office was ready.
Plans for the Gold Coast office evaporated as quickly as a New Year's resolution when 2017 rolled in, and Fat Prophet's new chief operating officer Leo Lopez, was left to clean up the loose ends.
Parkes was out the door by the end of March, and he took Fat Prophets to court for unfair dismissal within weeks.
Was Parkes dismissed? Did he resign? Was he given the opportunity to stay with Fat Prophets if he relocated to another company office?
The judgement from the FWC's Deputy President, Peter Sams, took aim at Fat Prophet's work practices. He noted that while Parkes move to Byron was temporary "it is nevertheless extraordinary that a change of such significant import and effect, was not committed to writing, in any form at all" and he labelled it "poor industrial relations practice".
As for the dismissal: "By effectively dismissing the applicant, without any notice or warning, must on any objective analysis, render any reason for dismissal, without foundation and invalid."
And while Justice Sams noted the plea from Fat Prophet executives that it is a relatively small employer with limited HR and industrial relations expertise: "the rather crude and unprofessional way the respondent handled both the applicant's move to Byron Bay and its conduct in preremptorily terminating that arrangement, should have been apparent to any employer with just a modicum of understanding of good employment practices."
Even the law firm that was initially representing Fat Prophets did not get off scot free: "It beggars belief that this firm would not have advised the respondent of the perils of defending this unfair dismissal application, which at the very least, had poor prospects for success."
Justice Sams did relent a little, adding he was making no criticism of the law firm concerned, as its advice might not have been sought - and he noted Fats ended up representing themselves.
So Parkes won the day, but his victory lap would have been short given the judgement found that his employment would not have lasted more than six weeks "from a lawful direction for him to relocate to Sydney and his refusal to do so."
He was awarded the princely sum of $8,350.38.
As ar as CBD can tell, Parkes is still in Byron.
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