General Thoughts …

… On the stimulus package, on the economy, on burdens placed on businesses and individuals who make a profit and on Vegas…

The news these days can be especially depressing. Everyone from the president on down keeps using phrases like “crisis,” “deeply troubled” and “emergency.” I believe we are in a very, very tough economy with many challenges. However, I do believe some of the condition is the result of the media coverage and how we are all talking to each other.

One media story that captures the differing opinions on how to deal with the economy is Rick Santelli’s rant. I think he has some great points. As a business that makes a profit, I am worried that the payback for all the stimulus programs will be on the shoulders of companies that are doing the right things—hiring workers, sharing profits, investing in equipment and other technologies and paying our fair share of taxes. Let’s hope I am wrong

Last week, several of us from FabTech attended GANA’s BEC conference in Las Vegas. The show was very productive and informing. We met many new contacts and possible business partners. However, the thing that intrigued me was the fact that almost every conversation came around to the state of the economy and prospects for business. I heard again and again “we are hanging in there” and “well, at least we aren’t in the residential market” and “I am worried for next (month, quarter, year).” Obviously, anyone who isn’t paying attention to the market conditions is foolish. But, I am vowing to try to be more positive in conversations. Maybe we can all contribute to ending this crisis of perception and confidence.

It was great to be at BEC for a second year. It was a little easier to navigate knowing the lay of the land. We met a lot of new folks. Even met the blog master Max. Had a lot of fun also. From the Tropical Oasis’s to Venice to Paris to Munich, Vegas has it all. If you have never been to the Hofbrau Haus in Germany, the replica in Vegas can be a lot of fun also. Just ask the King - Mike R.

Words on Wall Street

We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.

I will be brief in this entry. As we are all following the TARP, Bailout, Stimulus Packages, etc., I am getting increasingly frustrated with the attitude of entitlement.We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.

I realize many today in America and around the globe are innocent victims of the economic downturn. Thousands have lost jobs in wide waves of layoffs and they are struggling to survive and provide for their families. I feel for them and hope they can pick themselves up and find a good job soon.

However, I have no kind thoughts for those executives on Wall Street who continue to feel that they are “owed” bonuses as they have driven their companies into the ground. They are holding their hands out for tax dollars to “survive.” Then, they turn around and pay a bonus pool in the BILLIONS! That is a THOUSAND MILLION DOLLARS!

Here is an article that best sums up the situation and gives a very cogent argument combating the widely held beliefs that “it is just the way Wall Street works.” Might be up until today, but it should stop – NOW!