Accounting genius Bert Padell advises students

Padell, Nadell, Fine, and Weinberger & Co. is an accounting firm that primarily handles regular accounting and certified statements. They also manage business in the field of entertainment. They work with people in sports, movies and theater.

Bert Padell is one the most successful accountants in the entertainment industry. His roster includes the likes of Russell Simmons, Leyor Cohen, Madonna, Sean "Puffy" Combs, Alicia Keys, Brittany Spears, Eric B. and Rakim, Run DMC, De La Soul, Mary J. Blige, Toni Braxton, Pink Floyd, Joe DiMaggio, Biggie Smalls, Lou Panella, Carl Banks and many more

Bert Padell attended Long Island University, Brooklyn Law School, and New York University Law School. He feels that school provides you with a foundation. You should be able to apply what you learn to your career.

As a student, Padell was the guy that just wanted to spend his time earning money. "I never came from big money, as a matter of fact, I never came from any money at all, so I went to school and I worked," he recalled.

He worked during the day and went to law school at night.

In school, he was a member of a fraternity but had no opportunities to hang out with them because he was always working. "Time is a very precious commodity, and if you have the time, you have to take advantage of it," he saids.

Padell worked for the New York Yankees before starting college. "I was a batboy for the New York Yankees from 1949 to 1950. I was going to sign a contract with them in 1951, but I hurt my leg and could not play anymore," said Padell.

His college roommate was Jackie Jenson who was a great baseball player and good friend. Jenson and his wife took care of Padell when he could not play baseball anymore and had decided to go to school and pursue his accounting career.

"I started to represent grocery stores, candy stores, decorators and many other types of businesses. When I got into the field of entertainment, everything exploded. When you start to represent one person, they think you are good and recommend you to another person. That's how it all started," explained Padell.

With the current entertainment industry constantly changing, he feels that companies like Napster, Kazaa and others do not care about the songwriters, or anybody else in the business. If they did, they would make sure songwriters were protected.

"The songwriters don't get any credit, the artists don't get any credit; only Napster and the kids that illegally operate it make money," said Padell.

He feels that corporate America is a different animal within itself. "Corporate America is for the highfalutin people," he said.

Padell feels that in corporate America you have to know the right people to get involved, or you have to be recommended. He also admits that there are now better opportunities for minorities and Jews, compared to years ago.

A famous motto comes to mind when Padell thinks of companies like Enron, WorldCom and others, which is "money talks everything else walks." When something involves a lot of money, everyone looks the wrong way.

"Arthur Anderson got one million dollars a week, that's 52 million dollars a year to handle one account. Most people would sell their soul for a million dollars, for 52 million they would kill, and that is what they did," Padell explained.

He feels that everyone involved in that sphere accepted what was happening because they were all making money. "Money changes everybody, it shouldn't but it does. It creates evil," Padell said.

Padell advises students in the Pace community to remain dedicated and to never compromise one's honesty. "In order to be an accountant in any field of business you have to have knowledge, and I mean tax knowledge and accounting knowledge, because you have to know how to save your client money honestly," said Padell.

Padell feels that students should try to take the CPA exam as soon as possible. "You go to school while you are young because you have a fresh head; you have no worries on your mind. Imagine when you are 40 or 50 years old--you have to pay for your kids' education and you have to worry about bills. When you are young, you do not have to worry about anything but school and who you are going to date," explained Padell.

According to Padell, networking is the most important thing in any given field of employment. You can be a waiter and network to get a better job in a better restaurant.