My Boss Wants Me to Lend a Coworker Money

Dear Stanley,

I work for a major financial company. There was a delay in processing paychecks, and while employees who were set up for direct deposit got paid, those of us that receive paper checks were delayed payment by five days. One employee needed his money right away and asked his supervisor what he should do. The supervisor suggested that he ask me for a loan until the paycheck arrived. I like my co-worker, but I felt that I was put in an awkward position being asked to lend him money. Should I confront my supervisor or just tell my co-worker I can't lend him the money? It's hard to say no when someone is in a desperate situation.

Tapped Out

Dear Tapped,

I love a supervisor with a sense of humor. Of course you shouldn't lend your coworker money unless you have both the ability and the desire to. It's outrageous!

You know what's happening, don't you? Your company, like the rest of the world, is strapped. It needs cash. It doesn't have any. So it's stiff-arming all the people it owes money while it waits for more cash to come in. All companies do this. In fact, as the recession rolls on, more and more corporations are trying to get themselves on a 120-day rotation for their bills. The guys who are owed the money, on the other hand, are trying to ratchet down the terms so they get their dough in 60 days instead of the traditional 90. It's a war. You owe me $20. I tell you I'll pay you next year. You're annoyed. You say, "No, pay me tomorrow." Eventually, the money gets paid, unless one of us leaves the state or dies. Unfortunately, quite a few entities are leaving the state or dying. Which is sad -- especially if you're the guy who is owed the twenty bucks.

What's really stinky about your company is that it's implementing the Pay Later strategy with its own workers. Hence your "delay in processing checks." In terms of your demented supervisor, he's probably waiting for his paycheck, too, so don't be too hard on him. Simply tell him that you'll take it under advisement but probably can't lend anybody any money right now, especially since you're also waiting to be paid. He will most certainly understand, and if he doesn't, screw him, frankly.

If you like, you can also take your poor co-worker out for lunch while you tell him he's out of luck. Times are hard. But a cheeseburger between friends is priceless.