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tony

Veteran Investor Says Enough To Wall Street

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Steve, ..........Because of John Bogle, many of us are not financially little guys or gals anymore.

 

 

John Bogle also talked a lot about diversification. As we know that car industry is looking for the American public to bail them out. The Japanese and other countries have been making inroads on the gm, ford, and crysler for decades. Whey didn't they diversifiy into other industries when they were flush?

 

 

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IRA,

 

Did you catch on the news where the CEOs of the big three were asked if they would give up their private jets ? None would do it. Our auto industry should not be bailed out. They should reorganize under the bankruptcy laws.

 

If they want to survive they need to be innovative and competitive and they are neither. Bob Nardelli almost destroyed Home Depot. got a huge parachute and then became Ford's CEO. These guys don't care. They are totally about themselves. I know this is a stereotypical statement to make but when their companies are in ruins

management is just not doing its job.

 

I have no problem seeing these companies fail. Better, well run companies will take their place. Unfortunately they probably won't be from our country .

 

What is wrong with us? This culture has become too complacent. WE don't get it anymore.

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Steve, ..........Because of John Bogle, many of us are not financially little guys or gals anymore.

 

Hi Ira,

You are right. I was thinking in the context of people starting from nothing (no inheritances or educated parents) and after years of living frugally, staying the course, investing not only monetary but in education constantly throughout ###### life, always increasing your skills in all areas of life, professionally, financially and personally (Buddhism thought and philosophy shares a lot of values with Boglisms), learn from mentors, staying away from financial managers and agents like the plague, learn from mistakes, Bogle's strategy and philosophy fits perfectly and makes the former little investors into competent, but self effacing all around human beings concerned about the common good.

 

 

 

John Bogle also talked a lot about diversification. As we know that car industry is looking for the American public to bail them out. The Japanese and other countries have been making inroads on the gm, ford, and crysler for decades. Whey didn't they diversifiy into other industries when they were flush?

 

 

For years, the auto industry fought hard with their $2500 dark suit highly paid lobbyists to stop any mandates to increase mileage and decrease emissions. The thinking and culture of the management of these companies is astonishing. We are not talking about average six pack Joes here. We are talking about highly intelligent, highly educated managers from the most elite American business and engineering schools in the country. Do they ever think about the future? Do they realize that the gas hogs are unsustainable? Don't they ever get a message that some of us want an electric car or the same high mileage cars they sell in Europe?

 

This example shows the absolute stupidity of not thinking long term. A friend of mind went to the L.A. car show about five years ago looking for a hy-bred car. He went to the GM display and asked about five GM reps there and all of them, ALL OF THEM, looked at my friend with a blank face. They had no idea what he was talking about!!!!! This was in 2003. My friend purchased the Pyousa hybred a few months later.

 

Now fast forward to yesterdays hearings. These corporate hogs still don't get the image that they put out when they come to DC with a tin cup in their hands while flying in on private jets and they said that they will not sell them!!!!

 

Sorry to carry on like this, but you sure pushed a button with me. I don't know what to say. I think most Americans don't know the answer to your question. Perhaps it’s a symptom of a bigger picture. Cultural decadence of the working upper classes who have lost touch with reality.

 

have a great day,

Steve

 

 

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IRA,

 

Did you catch on the news where the CEOs of the big three were asked if they would give up their private jets ? None would do it. Our auto industry should not be bailed out. They should reorganize under the bankruptcy laws.

 

If they want to survive they need to be innovative and competitive and they are neither. Bob Nardelli almost destroyed Home Depot. got a huge parachute and then became Ford's CEO. These guys don't care. They are totally about themselves. I know this is a stereotypical statement to make but when their companies are in ruins

management is just not doing its job.

 

I have no problem seeing these companies fail. Better, well run companies will take their place. Unfortunately they probably won't be from our country .

 

What is wrong with us? This culture has become too complacent. WE don't get it anymore.

 

 

Tony , completely agree with you and Steve. Many forieign companies have plants in the US. where they are successfully making cars that consumers are interested in buying. These guys are like the three stooges coming in private jets, with tin cups. I heard that a one way ride on one of these jets is 20K, roundtrip 40k times three. Tony when was the last time that you flew a private jet to school? Basically we watch our pennies, and think twice about spending an extra 10 bucks on a dinner, so in a very polite way I say to these guys F U C K Y OU

 

Anyway , under bankrupcy, these companies can streamline in an effecient manner to survive.

 

Also if we give them a handout, howmony other industries will be on line for a handout.

 

 

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