Let us quickly discuss, on this last day of May, the value
of Delay. Late payments, be they intentional or not, are costly, no matter how
late they are. Time has a calculable value and delayed payments provide a
monetary benefit to the payee and punish the lender or vendor. This value is
easily observed in the world of retail, where giants like Wal-Mart, not only connect
the speed with which they pay their vendors to the success of the products in
their stores, but also fine retailers for late shipments. In retail, late
shipments equate to lost sales. In real estate, late payments lead to increased opportunity
costs and decreased value of money.
