van that squealed to a halt just to the right, nor the worried-looking young man in white coveralls who hopped out of it and dashed into the restaurant.
WHICH MEANT THAT â¦
VICTOR KRASSMEIER * ANNUAL REPORT
The Current Situation
While the fluctuations in domestic and international money markets have remained as unpredictable as was forecast in last yearâs Annual Report, the general trend has remained down, which was also predicted. To the extent possible this trend has been allowed for in the planning that has taken place within the higher cortical regions of the Victor Krassmeier mind.
Liquidity
Unfortunately, the depressed nature of the economy, both domestically and on the international front, has made short-term liquidity measures more than usually difficult to sustain or initiate. Although Victor Krassmeier remains a sound and stable structure, with assets (in property, stocks, partnerships and other interests in various business operations) in the realm of one point six million dollars (see Appendix 1), this problem of short-term liquidity remains a knotty one, and in fact has become increasingly serious.
Cash Flow
The cash flow situation is briefly stated. (See Chart 1.) In the fiscal year just ended, cash intake has failed to keep pace with cash outgo ten of the twelve months. This negative cash flow has created a situation in which various recurrent obligations, such as chauffeurâs salary and the apartment on West 65th Street with occupant (see Appendix 2), are in very real risk of default before the end of the current calendar year.
Alternatives
Quite simply, there are two alternatives open to Victor Krassmeier at this juncture.
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(1)Â He can cut back some of these out-of-pocket expenses.
(2)Â He can find an additional alternate source of cash income to close the budgetary gap.
The difficulty with (1) is that every suggested economy measure produces great complications in the Victor Krassmeier life-style. (Firing the chauffeur, for instance, would force Victor Krassmeier either to learn to drive at his age, or spend time vying with the masses for taxis.) The difficulty with (2) is that additional alternate sources of cash income donât grow on trees.
Management Decision
Having rejected the first option listed above after much soul-searching, Victor Krassmeier has put considerable effort into an exploration of the viability of the second, and has at last emerged with a potentially useful one-time source of income. This has necessitated a brief business relationshipâan unofficial partnership, in factâwith a not entirely savory individual named August Corella.
The New Partner
August Corella is not the usual business partner. He does not, for instance, appear in Whoâs Who . Although he has some sort of administrative post with a bakersâ union in New Jersey, his actual interests appear to be much more wide-ranging.
Previous Relationship
Through his tax-deductible charitable connection with various local museums (see Appendix 3), Victor Krassmeier has become aware of the trade in antique art and artifacts of dubious pedigree. That is to say, items that American museums and the American government see as free trade items that can be bought and sold without question of legality, but items that certain foreign governments, such as Mexico and Italy, see as their own property and therefore âstolenâ merchandise. While himself partaking in the negotiations for some of these pieces representing the museum side, Victor Krassmeier first came to have dealings with August Corella, who on occasion appeared as a representative of the seller or dealer or âthiefâ side.
The Current Relationship
August Corella initially brought to Victor Krassmeierâs attention the potential acquisition by the Museum of the Arts of the Americas of the Dancing Aztec Priest of Descalzo. When Victor Krassmeier conveyed to August Corella the positive early response of the
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