U.S. stock indexes fell on Friday as the September 30 deadline for an emergency budget deal in Washington to avoid a Government shutdown loomed ever closer.
Is it correlation or causation? Tough call. The way McSherry puts it in the Forbes article, one thing happens as another thing happens. Sounds like correlation, right?
But it was more company-specific issues that affected many stock prices on Friday.
McSherry provides several supporting examples following that last statement. I would think rational-sounding answers replete with performance figures, even bad ones, would do more to placate nervous shareholders. Bad figures are things that management can do something about. The last thing shareholders want to hear is that their investments are entirely at the mercy of a capricious DC establishment engaged in a junkpunching contest. Continue reading →
Earlier this year, as the Man of the People® Tour rolled around the nation in search of new constituencies to offend, it became apparent that presumptive GOP nominee Thurston Howell III Mitt Romney is the sort of man who sometimes doesn’t think things through all the way. Which is bad for him, but fun for the political theater fans amongst us. Chevy Chase probably has his agent on the phone with Lorne Michaels right now. After what Chase did to the Gerald Ford campaign, it boggles the mind imagining what he’d do with Mitt.
“Television is an invention whereby you can be entertained in your living room by people you wouldn’t have in your house.” Who said it? The answer is at the end of this post. Now on to the links! Continue reading →
Cut Medicare payments and tweak Social Security. Cut defense spending by directly reducing spending and getting out of Iraq and Afghanistan. Raise income, corporate, and payroll taxes. These issues essentially define what it means to be serious about eliminating the federal deficit, because all of them need to happen before the deficit can truly be brought under control. Serious people can debate how much of each is necessary and where to make the largest changes, but anyone who rejects even one of the issues is either ignorant of the scale of the problem, blindly beholden to their preferred ideology, or lying.
Yesterday we discussed these issues. Today we look in greater detail at the public statements of various individuals and organizations to see if they are actually serious about cutting the deficit, or if they just claim to be serious.
The Republican Party
Since President Bush II presided over a massive expansion of government during his eight years in office, the GOP has, in most respects, become the party of “spend and don’t tax.” Continue reading →
“To take people from the music world and give them the same kind of credibility that you give me, Morgan Freeman, Laurence Fishburne, Forest Whitaker—that’s like an aberration. I know there’s some young actor sitting in New York or L.A. who’s spent half of his life learning how to act and sacrificing to learn his craft but isn’t going to get his opportunity because of some ‘actor’ who’s been created.” Who said it? Continue reading →
Once upon a time the business world was dominated by hierarchical organizations that derived both their structures and mechanistic management philosophies from military thinking that traces its lineage through Frederic the Great all the way back, literally, to the Roman legions. And by “once upon a time,” of course, I mean “at this very minute.”
The truth is that way too many American companies today act as though their employees are some combination of robot and peasant foot soldier. (Hopefully we’re not talking about the company you work for, but I imagine we’ve all been there at some point – I know I have and so have most of the people I know.) Continue reading →
Consider only this number: Interest costs on Iraq-related debt will be more than $23 billion for fiscal 2008. That sum is almost exactly the amount separating Bush and Congress on spending levels for the entire budget now being debated.