3 letters

This is another one I heard from Kee Meng. I have changed some minor details but the gist of the story is unchanged.

One day, as the new CFO of a company was entering his new office, he met his predecessor on his way out. They exchanged greetings and before they parted ways, the new CFO asked his predecessor for some advice. "Yes, I have left you 3 letters in separate envelopes numbered 1, 2 and 3 in the top drawer. The next time you encounter a problem you cannot resolve, open letter number 1. The 2nd time, number 2 and so forth."

In the next annual general meeting (AGM), the CFO was having difficulties justifying his number and thought to himself that this must be the time for letter number 1 and so he opened it. In there was a note saying "blame it on the previous guy!" So the CFO went to to explain to the shareholders that the damage done by the previous guy requires time to fix and that bought him another year. In the next AGM, the CFO experienced a similar problem and opened letter number 2. In it was a note saying "blame it on the economy!" The CFO explained to the shareholder that uncertainties in the economy and fluctuation in prices of certain raw material have resulted in poorer than expected numbers for the year. Again, it bought him another year. On the 3rd year, the CFO open the last letter and in it was a note saying "it is time to write your 3 letters!"