I'm really ok with fewer people making instruments of death for a living. Shame about the pizza, though.
Glad you're so blithe about it. Here in Minnesota, the medical device industry is pretty damned important and those jobs are going to be going away, too.
I've come to the conclusion that gay marriage is not a bad thing. If for no other reason, the percentage of shotgun weddings will reduce dramatically.
Mark, Boeing was doing great 4 years ago when it was trading below $30.00 a share. BTW, a lot of classy people over at Freedomworks...read the comments!And Papa John's? Really? Obamacare is going to cost a one-time price increase of less than 1 percent a pizza, and the CEO would rather lay people off? What a class act! And defense spending is coming down. After a huge buildup in expenditures over the last decade, the U.S. is going to try to get its fiscal house in order. And that necessarily entails cutting defense spending. Would you prefer Romney's plan, where we slash taxes AND massively increase defense spending? Look how well that worked with Dubya.Dude, you gotta do better than this. I see three stories about the business cycle, and one about some cheap and, in my opinion, ethically challenged CEO who would rather lay off workers than bump the price of a pizza by a dime. Thanks for letting me know about 'Papa' John. I know who won't be getting business from me any more. (Not that anyone with a brain who lives in Chicago would eat that low grade dog food very often).Since you are cherry picking economic news, this just out: Consumer sentiment rose to its highest level in 5 years in October, and U. S. wholesale inventories rose to their highest level in the first 9 months of this year, exceeding even the highest estimates of analysts. Most indicators on trade and factory orders are pointing to economic rebound. Who are you going to blame that on? Nice try, but it's called capitalism. Fortunes of comapanies rise and fall. BA has a bloated management and needs to lay off workers. Do you think they have never done that before Obamacare?Regards, Rich
Rich (glad to see you're back to that, btw), I don't have time to respond to all this now, but let's just say this -- "consumer sentiment" can't be put into the bank. And what happens to Medtronic matters a hell of a lot to me, since many of my neighbors work there. It's a major employer in the northern suburbs of the Twin Cities and if things continue to go south for them, it will have a huge impact on the lives of people that I care about.
One other thing, Rich -- you and Chuckwagon Boy need to tell me which charity you want me to send money to, since you and he won the contest. Send me an email.
Mark, I am not meaning to sound cavalier about the people who will be impacted by a downturn at Medtronic, or anywhere else for that matter. I happen to own a good chunk of MDT, and will take a hit if it goes south. But I am betting it won't. I also know that such a loss isn't comparable to being out of work, and I know that from experience. But my point is that in an economy as large and diverse as ours, cherry picking bad economic news to prove a point about the economy at a macro level doesn't hold water. As you know, bad news in one area can indicate good news in another. I would also note that, in an economy that is highly dependent on consumer spending, consumer sentiment may not put money into the bank, but it is one of the best predictive metrics on where the economy is heading, and it appears to be trending up right now. National consumer sentiment means a whole lot more than what is happening at one company.Regarding your generous offer, my personal favorite charity is The Greater Chicago Food Depository. How about you making a contibution to your regional equivalent. I believe it is Second Harvest Heartland, and I will match it at the GCFD.Thanks and Regards,Rich
OK, yeah, I was a bit blithe about it. I get that everyone's job is really important to them, and the people around them. And rightly so. But the profits of the medical device industry (and the pharma industry, in which I have no small interest myself) were going to take a hit one way or another. Health care costs are and have been inflated in this country (above and beyond what would be predicted based on our wealth, compared to every other country in the world) for a variety of complex reasons. It's not simply because those companies are "greedy". But there is literally no path to fixing that that doesn't leave the health care industries less profitable, in the near-term at the very least.
But my point is that in an economy as large and diverse as ours, cherry picking bad economic news to prove a point about the economy at a macro level doesn't hold water. Right, but you're going to see the macro picture change quickly. Watch and see. As you know, bad news in one area can indicate good news in another. I would also note that, in an economy that is highly dependent on consumer spending, consumer sentiment may not put money into the bank, but it is one of the best predictive metrics on where the economy is heading, and it appears to be trending up right now. National consumer sentiment means a whole lot more than what is happening at one company.Again, watch and see. We're in a lot of trouble and you are kidding yourself if you think otherwise. I would really like to be optimistic, but I see big red flashing warning signs all over the place. 2013 is not going to be much fun for any of us.
Regarding your generous offer, my personal favorite charity is The Greater Chicago Food Depository. How about you making a contibution to your regional equivalent. I believe it is Second Harvest Heartland, and I will match it at the GCFD.Second Harvest Heartland is the one here. I'll be talking to my financial advisor (a/k/a Mrs. D) about it and will advise. Thanks!
11% Unemployment in 2013. That's my prediction.
i would like like to nominate Mr D and Rich for co-president. nothing happens/takes effect unless they both agree to it.hows that?the New Rome, created with a single blog comment.
its because i'm awesome like that.
Mr. D, I was going to ask you about winning the contest with Rich. My charity would be the MS Society. And thank you very much for doing that!Also, Rich and yourself as co-presidents gets my vote! :)
the New Rome, created with a single blog comment.Proving yet again that Rome was built in a day.its because i'm awesome like that.Home truth!
CB, will do. An exceptionally worthy charity and one that I know is near and dear to you. Thanks!
Thank you, Marcus!
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