Wednesday, March 06, 2013

The Dow of Poo

This from Daniel Gross of The Daily Beast ...


The Dow Jones Industrial Average closed at a record 14,253.77 on Tuesday.

As we mark the milestone, we should look back and take stock of how far the market—and the companies that drive its trajectory—have come since its last peak in 2007. But we shouldn’t lose sight of how far it has to go—to get to a real record, and to create a sense of shared prosperity.


This from Geoffrey Raymond (who is, of course, me) ...

Even a cursory reading of the painting tells us nobody gives a shit about Lehman, four years out.  Which is troubling.

I don't blame Gross.  Hey, he's a business guy and it's a straightforward article about the Dow.  Read it all here.  But while he's looking back and taking stock, I might have preferred a little reflection on just why the Dow was so high in 2007.  Granted, such an expectation is crazy.  But still ...

As we mark the milestone (about which some are carping that it's not really a high because it's not adjusted for inflation), it might make sense to reflect on this One Great Truth:  The number one concern of almost every CEO of almost every public company in the United States on an almost hourly basis is that company's stock price.  Sadly, conducting business in an ethical manner stands well down on the priority list.  Sadly, conducting business in a moral manner stands even lower.

If we point fingers at What's Wrong With Wall Street, you need not look much further than this particular sickness.

Just so you know, the word 'Poo' in the title of the post is used not as a reference to the famous bear but, rather, scatologically.

Nicely said.  But if I could just chime in for a moment?
By all means.
I find the line "to create a sense of shared prosperity" to be either utterly revolting or snot-through-the-nose laughable.
Nicely said.  My guess is that Mr. Gross' sense of what shared prosperity is is very different from mine.
Mine too.
That's why you can't sing the blues all night long like you used to do.
Yes it is.

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