The Fourth Envelope

A new CEO was hired to take over a struggling company. The CEO who was stepping down met with him privately and presented him with three numbered envelopes.

"Open these if you run into serious trouble," he said.

Three months later, sales and profits were still way down and the new CEO was catching a lot of heat. Panicking, he remembered the envelopes. He went to his drawer and tore open the first.

He called a press conference and explained that the previous CEO had left him with a real mess; it was taking a bit longer to clean up than expected, but everything was on the right track. The press and Wall Street responded positively.

Another quarter went by and the company continued to struggle. Having learned from his previous experience, the CEO quickly opened the second envelope.

He fired key people, consolidated divisions, and cut costs everywhere he could. Wall Street and the press applauded his efforts.

Three months passed and the company was still short on sales and profits. The CEO would have to figure out how to get through another tough earnings call. He went to his office, closed the door, and opened the third envelope.

Some companies don't stop at envelope three. Good luck out there.