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Meet America's Least-Efficient Fortune 100 Company

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Whatever you do, don't run your business the way New York State runs itself.

“We’re a $100 billion-plus corporation that has squandered its buying power, has no standardization across business units and does not reward efficiency,” Howard Glaser, New York's director of state operations, tells the New York Times.

“New York State is the equivalent of a Fortune 100 company,” said Robert Friess, an executive at Accenture who audited the state's procurement system. “We were surprised, given the spending power the state has, at the very decentralized way in which they operate.”

What, exactly, raised Friess' eyebrows?

Oh, nothing to get overly excited about. It was really the small stuff, like state agencies operating "850 toll-free numbers, almost half of which have not been dialed in months."

Leasing new office space to house state workers while more than 25% of the state government's existing office space sat vacant -- because nobody had bothered to inventory what Albany had in its real estate portfolio.

1,719 vendors supplying state government with pens, paper, and paper clips.

And there's more. Much more. To see what else New York's 500 procurement workers couldn't be bothered to fix, click HERE.
POSITION:  No positions in stocks mentioned.

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