I find corporate America fascinating. We love to hold corporate CEOs up as some sort of financial business gurus, when in fact they are simply ordinary guys. Microsoft is an excellent example. For years, Microsoft could do no wrong. They were always ahead of the curve. Unfortunately, that was decades ago. The last thing that Microsoft truly got right was Xbox 360 and that was almost a decade ago. Remember how Microsoft got into cell phones about 10 years ago? Everybody thought it would be absolutely great if there were some way you can sync your email with your cell phone. The Windows cell phone was a disaster. Earlier this week, Microsoft bought Nokia. Unfortunately for Microsoft, in my opinion, this is too little too late. Google bought the cell phone portion of Motorola more than two years ago. We’re now seeing cell phones they’re rolling out that are fabulous. (The golden halo that surrounded Apple seems to be losing its shine also.)
Remember representative Joe Wilson? He was the South Carolina Congressman who shouted out in the middle of a joint session of Congress, “You lie, at Barack Obama!” Well, Joe Wilson really hasn’t done anything of note since then. Yesterday, Rep Wilson decided that he needed to unleash the crazy as John Kerry testified to the House Foreign Affairs Committee. He decided not to unleash one or two crazy theories but instead to go for the bonanza. The reason that Barack Obama was coming to Congress to seek authorization to use military intervention to deter Syria from unleashing more chemical weapons was not that this needed to be done. No, instead it was because Barack Obama was trying to divert our attention away from “Benghazi, IRS, NSA scandals, the failure of Obama care enforcement, the tragedy of the White House drafted sequester.” The quote from the MasterCard commercial fits here – priceless.
Light truck sales increase to their highest number since 2007.
Economic activity continues to improve.