Telling It Like It Is

THE ENTERPRISE--UNCHARTED WATERS

THE ENTERPRISE

WE ARE IN UNCHARTED WATERS
One of the brightest people I know said it this way: "We are all in the dark on this situation, all we can do is look for the footprints and follow the correct path. We are living history and our grandchildren will learn from it."  Since many readers are business people and investors, you are all wondering "what to do now?"

So am I.  See, there is comfort in knowing you are not alone.  Robert Galvin, retired former chairman of Motorola was speaking at an Industry Week Leadership conference a decade ago.  I asked him to describe a leader.  He answered, "A leader is someone people will follow to places they are afraid to go alone."  What a wonderful and profound way to describe leadership.

As I watched our newly inaugurated President Barack Obama celebrate at Ball after Ball, I hoped he will be that kind of leader for our country.  I missed the full text of his speech today, but  I read the full text and it sounded like he was preparing the American people for the challenges that exist and the sacrifices that must be made.  Part of the leader's job is to create a clear understanding of the current reality.  This is a task that Obama's communications skills make him well prepared.  His calm demeanor helps allay people's fears, even though his carefully chosen words describe the tough times with clarity. 

WHAT CAN YOU DO?  IN YOUR BUSINESS?  IN YOUR CAREER?
First, don't despair--stay positive.  Even a 4% drop in consumer spending means that consumers spent 96% as much as last year.  That's not so shabby--is it?  Yes, unemployment is at 7% and probably heading to 10%, but still 90% of people will be employed.  Below, I have posted an excellent article from Reason Magazine by Senior Editor Radley Balko.  He makes many good points.  Perhaps, this recession can be viewed as a glass half-full instead of half-empty.  Maybe this isn't the "end of life as we knew it."  Maybe it is just a new beginning, as President Obama likes to say.  I hope so.  I know one thing:  a positive mental attitude is a good starting point. 

Please read this, and then, at the end of it, I will add some (I hope) useful tips to make your business and you more successful.
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Reason Magazine
The Good News From a Bad Year
Things are still getting better all the time

Radley Balko,  January 1, 2009

Be prepared to see a lot of doom and gloom this week. Those year-end video and photo montages, year-in-review summaries, and "a look back" reflections are inevitably gloomy even in boom times. That's likely to be especially true in 2008, a year that, admittedly, wasn't particularly filled with hope (Barack Obama's campaign promises aside).

I recently heard a conservative talk show host bemoan the "lack of God in our society" as reason for, among other things, the recent "Santa shooting massacre" in Covina, California. The left, meanwhile, is pointing to the financial meltdown as indicative of a different kind of moral failing—the unbridled greed they associate with free enterprise.

Truth is, they're both wrong. The last 12 months may prove not to be the most fondly recalled in recent American history, but things aren't all that bad. Most social indicators are still moving in the right direction. In general, our standard of living continues to improve. Advances in technology are helping us beat the diseases most likely to kill us; giving us more leisure time; making us more comfortable; giving us more convenience; and with the Internet, putting much of the world—quite literally—at our fingertips.

So here's the good news:

Crime rates are still falling. Violent crime in America has been in a free-fall since the early 1990s, despite a slight uptick in 2005 and 2006. Economists, criminologists, and sociologists can't conclusively say why. Explanations range from the 1990s economic boom to changes in crime-fighting strategy to the legalization of abortion to reductions in childhood exposure to lead. Whatever the reason, long-term trends show crime is down across the board.

Sex crimes are down, too. Many conservatives and some leftist feminists often argue that the widespread availability of pornography and the "mainstreaming" of sex may effect an epidemic of sexual violence. It hasn't happened. Incidence of rape in America has been in swift decline for 20 years. In 2006, it hit its lowest point since the government started keeping statistics. Crimes against children have also been in decline. Both trends have taken place over a period in which there has been less social stigma attached to being the victim of a sex crime—meaning we're seeing fewer rapes, even as rapes are more likely to be reported. More interestingly, they've also taken place alongside the rise of the Internet, the medium that has done more than any other to mainstream and provide easy access to pornography, gambling, and a host of other vices. Somehow, society has managed to stay afloat.

Our allegedly sexualized culture hasn't had much effect in other areas, either. The divorce rate is at its lowest point in four decades. This is in part because people are waiting longer to get married. More women in the workforce means more women are waiting to get married. And they are getting married for the right reasons, not merely for financial security. It's hard to argue that society is worse off with strong marriages, even if that means fewer marriages over all.

Life expectancy is up. In June, the Centers for Disease Control announced that in 2006 (the latest year for which data is available), Americans once again set a record for life expectancy. Men, women, blacks, whites—all can expect to live longer today than at any point in American history. Discrepancies in the average age of death between ethnic groups are narrowing, too. All of those things we're told need heavy regulation because they're potentially killing us—obesity, alcohol, coffee, sodium, pollution, stress, cell phones—aren't doing a very good job.

We're beating our biggest killers. The same CDC report noted that mortality rates for eight of the 10 leading causes of death in America dropped in 2006. In fact, deaths from the two biggest killers—cancer and heart disease—have been in decline for a decade. Deaths from the third leading cause of death, stroke, are also down.

A generation ago, a cancer diagnosis was a death sentence. No more. In November the National Cancer Institute announced that for six years, both incidence of and deaths from cancer have been in decline, the first time that's happened since the organization began issuing its report. The drops were consistent among both sexes and across all ethnic groups, with the exception of American Indians, for whom incidence and deaths largely remained stable. In 1962, the 5-year survival rates for five of the 10 leading causes of childhood cancer were 10 percent or lower. Today, the survival rates for all 10 are at least 55 percent, and six are above 80 percent.

The kids are all right. Despite the periodic outbreak of moral panic over violent video games, MySpace, "rainbow parties," and dirty lyrics in rap music, America's kids are getting along just fine. Teen pregnancy was up slightly in 2006 (again, the latest year for which data is available), but that's after a 15-year decline to historic lows—again over the very period during which critics say our culture is overly sexualized. Since 1991, fewer teens are having sex, fewer are having sex with multiple partners, and more are using condoms when they do engage in intercourse. The abortion rate is also at its lowest point in 30 years.

Beginning in 1994, juvenile crime dropped dramatically for a decade. By 2004, juvenile crime was at its lowest point in a quarter century. The numbers edged up slightly in 2005 and 2006, but juvenile violent crime is still 40 percent lower than it was in 1994. The juvenile murder rate is a whopping 73 percent below its high in 1993.

We have more leisure time. Americans work on average eight fewer hours than we did in the 1960s. Believe it or not, lower-income Americans are actually more likely to spend time at leisure and less time on the job than their wealthier counterparts, suggesting that when we do work long hours, it's more likely to be because we want to than because we have to. We also seem to be enjoying ourselves more. We're spending more money per person on recreation. And the toys we do have (high-definition televisions, iPods, computers, sound systems) are immeasurably more fun than they were generations ago.

Doom and gloomers have been predicting the downfall of American society for generations. The last 20 or so years in particular have seen incredible advances in technology that have given us a wealth of new choices, exponentially enhancing our personal and economic freedom. The worrywarts fret that our society can't handle that sort of freedom—that prosperity and unlimited choices coupled with the absence of need will spell our ruin.

This year's headlines aside, we seem to be handling it all pretty well.
http://www.reason.com
http://www.reason.com/news/show/130861.html
Radley Balko is a senior editor at reason. A version of this article originally appeared at FoxNews.com.
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SOME SNIPPETS TO GET YOUR MIND UP TO DATE
A great use for Social Networks--comparing notes on Doctors and Medical care and conditions.  Some groups of people are using the social networks to  become mini-test sites for drug results, side effects, etc.  Check out http://www.patientslikeme.com/

Pension costs will be a new "cost increase" challenge.  Why?  Because the drop in the equity markets will make them all unfunded, and require larger company contributions for a long time to come  Plus forward returns based on actuarial assumptions will plummet and worsen the situation.

Local, state and Federal deficits will skyrocket. as tax collections plummet.  Lower business results lead to lower tax revenues and most governmental costs are more fixed than variable.  And even then, cutting services is unpopular and these organizations are run by elected politicians who want to be reelected.

Ad revenues are dropping like a rock.  The most recent editions of magazines are thinner than ever.  As I went through a few recent Business Weeks, I was stunned by how few ads there were.  Newspapers are failing too.  So are on-line ad expenditures.  Look for some of the newer "Web. 3.0" and social network sites to struggle--because they are "free" and advertisers pay the bills--or not.

People like "home grown" service--so much so that Dell will try charging $12.95 a month to guarantee that its tech services you call are handled by a North American agent.  Wow.  Right?  Or Risky?

Liquidators and liquidations are thriving--so, if you aren't liquidating, look for great deals on used everything from office furniture to equipment as companies shut down and cut back. 

Severance? What's that?  It is quickly becoming an artifact of the past as companies cut loose people with less and less of a safety net.  Even though COBRA durations will probably increase in Obama's Administration, companies are cutting severance pay to the barest of minimums.

When the "tail wags the dog"--Apple is enjoying increased computer sales because there are so many iPods and iPhones out there.  The iTunes store and iPods work so well with Macs, and Macs are now "Windows" compatible machines with Intel processors--so why not switch.  All the popular software runs cross platform just fine:  Microsoft Office, Adobe Acrobat, Quicken, Real Player/Windows Media Player, etc., etc.   And Macs recognize most digital cameras immediately and import pictures into its great iPhoto software which allows editing, slide shows, etc.

A FEW THOUGHTS TO HELP YOU IN THESE UNCHARTED TIMES

Carefully study customers--current and prospective--to identify their needs, their wants, their dissatisfiers and what drives their decisions.
"Hook your wagon to the stars;" choose the customers who are most likely to win, succeed, and survive and go after them with all you've got.
Start with a PLAN--that is essential; then develop tactics (plays) to achieve your objectives.
When things don't go the way you expected, (in the football parlance) "run to daylight"--find the openings where you can make gains and take them. 
You only have limited resources (people-time & money) available--spend them wisely--on worthwhile opportunities
Take care of your "500 lb. gorillas"--(that's your best people)--they are who will help you win, succeed, and survive.
Conserve your cash--getting more will be hard or impossible; spend sparingly, pay slow, collect fast, postpone all but true essential needs.
Spend company money like it was your own.  In the long run, it is—because your future depends on it.

USE YOUR GOD-GIVEN SENSES
When you are in unfamiliar territory or lost somewhere, stop and look around--again and again.  Sniff the air; listen intently.  What do you see (hear, smell) that will help you figure out where to go, what to do.  What do you NOT see (hear, smell)?  Stop and reflect on what your senses are telling you.  Often, it is what's NOT there that reveals a lot.  Get out of your office.  You won't learn nearly as much there as you will out in the "field"--with customers, watching end users or consumers, and LISTEN—not just with your ears, but with your EYES.   After all, 70% of all communication in non-verbal.  Body language, tone of voice, facial expressions, the eyes, hand gestures, posture, nervous movements, things the Poker players call "tells." 

THE FUNDAMENTALS DON'T CHANGE
No matter how tough the environment, fundamentals are, well, fundamental.  They seldom change much or at all.  Nature contains a lot of lessons.  Gravity is free; so is sunlight.  Fewer parts usually cost less than more; lighter parts usually cost less than heavier ones; if one part can do the job of two, no assembly is required.  You get the idea.  And one last point--something I learned early in my career when designing computers (that didn't always work quite as intended)--when in doubt--make "it" 'look good' (in case "it" doesn't work as intended).  Nobody likes to throw out something that looks good, especially if they already chose it, or bought it, or touted it to someone (especially their boss).

So there you go.  Some tips.  They all work.  I know, because I've used them--in at least three recessions (early 1970's, early 1980's, late 1990's/early 2000's).    But then every new one has new conditions and new solutions are needed--so do "what I meant, not exactly what I said!!" Good luck. 

(NOTE: Next week's edition will either be late or "straddle" the next two weeks, as I am getting a little R & R time in this week.)

All the best, John

THE ENTERPRISE--Incredible Uncertainty

THE ENTERPRISE--Incredible Uncertainty

A "LOST WEEK"--BUT PART OF THE "CIRCLE OF LIFE"
I had this edition all written a week ago... ready to send out.  Then we got the call on Sunday that if my wife wanted to "say goodbye" to her Mother (age 92), we'd better get to IL FAST.  So we threw things in the car Sunday and went. I took my iPhone but not a laptop.  We were not sure if we were making a fast 2-3 day trip or a funeral trip.  Her Mom died Monday at noon, so we spent 4 glorious days in Rockford IL waiting until the church became available for the funeral-Friday.  It seems a lot of people die in Rockford in the winter and the church she belonged to is in a neighborhood with an aging population.

A WARM GOODBYE--BUT FRIGID WEATHER
As it turned out, Maureen had a very good, goodbye visit with her mother (like I had last Feb. in IL with my sister before she died).  Of course Rockford had about 10-12 inches of snow on the ground, and more came almost daily until mid-week when the temperatures dropped below zero--way below zero.  Thurs. night was the ultimate:  -23 degrees, without any wind chill factor.  Wed.-Fri. the high was about zero.  Wow--that is COLD.  Since my Mother-in-law's quality of life had slipped badly, this, like many old folks, was probably a blessing for her.  After the funeral and burial Friday (no we did not go outside to the grave site--we were in a Mausoleum for the services), we had a luncheon with family and friends and embarked on the 500 mi. drive home. Got back last night at 11PM, to Columbus where it was a balmy -9 degrees.

I'd better get at least one edition out this weekend, since I have a crazy travel schedule for the next 2-3 weeks.  No telling when the next one will hit the airwaves.

SURVEY RESULTS
Thanks to those who responded.  Conclusions.  Keep it weekly (more or less); don't charge (although many were willing to pay); don't sell advertising (intrusive), and as far as content, a little less politics, and a little less length and more "business" info and ideas.  Guest input and material is OK if well selected.  Since this one was essentially compiled before all the responses were tallied, it is what it is.  Here goes.

WHEN I FIND GOOD STUFF--I'LL PASS IT ALONG
Normally I would dig through the pile of clippings I saved, that were all marked up with what I thought was significant, and compile THE ENTERPRISE.  Not so this week. 

First I received a link to a marvelous video from my friend Admiral Ed Straw.  I have posted it further down the page, and I heartily encourage you to paste the link in your browser and watch it.  I will bet you forward it to friends and family, and maybe more than that.

Then I was reading my email from Betsy McCaughey, Chairman of the Committee to Reduce Infection Deaths (RID), which contained her very recent WSJ article on Infections and the incredible impact they have--and how badly our medical community is managing this huge problem.  That one is posted at the end of this issue.  I encourage you to make sure it goes to anyone you know in the medical community or who serve on medical-related boards.

Finally, the piece posted below is from the WSJ's web site and a week ago Friday's print edition, page W-11.  It's kind of buried at the back of the Weekend section of the paper, so I feared you might not come across it, even if you are a regular WSJ reader.  In it, Stephen Moore does a great job of recapping what I have been saying for a long time--in THE ENTERPRISE.  We are "living" ATLAS SHRUGGED.   Ayn Rand's legendary novel is a half-century old, but right on target. 

Since it is winter in much of the country--that season where we either get stuck in our homes (if we are lucky) or in airports and on planes (if we are not), I urge you to buy a copy of Atlas Shrugged and read it.  (Don't buy the small paperback copy unless you have great vision--the print is just too small.  Buy the larger  6x9 trade paperback format--you'll be glad you did.)  Here's a link:  http://www.amazon.com/s/ref=nb_ss_gw?url=search-alias%3Dstripbooks&field-keywords=Atlas+Shrugged&x=0&y=0

I honestly don't know exactly what we should be doing to "unwind" this debacle we are in the middle of.  I suspect it involves the same things as any problem:  1) Understand and define the problem and 2) Solve the problem.  Easy to say; not so easy to do.  But a return to the basics of our capitalistic free enterprise systems and our Federal democracy, with many rights reserved for the states and citizens might be a good starting place.

Someone in key positions in Washington must begin to realize that only through wealth creation can we truly begin to "dig out."  Wealth redistribution won't do it.  Government largesse won't do it.  Both incite the wrong behaviors and make things worse.  Perhaps we should find a way to et Rand's book in the right hands at the White House.  Will President Obama have time to read a 1000 page novel?  I doubt it.  Has he read it?  I doubt that also.  Perhaps the right hands are those of his wife, the First Lady, Michelle Obama.  She is very bright, and while she'll be busy, I'll be she gets stuck on some long plane flights.

Does any reader have a direct "entry point" to get a copy of Atlas Shrugged in her hands?  Somehow, just sending her one from amazon doesn't seem like it will do much good--but who knows--it might.  Ideas?

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    * OPINION: DE GUSTIBUS By STEPHEN MOORE
    * JANUARY 9, 2009

'Atlas Shrugged': From Fiction to Fact in 52 Years

Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read "Atlas Shrugged" a "virgin." Being conversant in Ayn Rand's classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only "Atlas" were required reading for every member of Congress and political appointee in the Obama administration. I'm confident that we'd get out of the current financial mess a lot faster.

Many of us who know Rand's work have noticed that with each passing week, and with each successive bailout plan and economic-stimulus scheme out of Washington, our current politicians are committing the very acts of economic lunacy that "Atlas Shrugged" parodied in 1957, when this 1,000-page novel was first published and became an instant hit.

Rand, who had come to America from Soviet Russia with striking insights into totalitarianism and the destructiveness of socialism, was already a celebrity. The left, naturally, hated her. But as recently as 1991, a survey by the Library of Congress and the Book of the Month Club found that readers rated "Atlas" as the second-most influential book in their lives, behind only the Bible.

For the uninitiated, the moral of the story is simply this: Politicians invariably respond to crises -- that in most cases they themselves created -- by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism.

In the book, these relentless wealth redistributionists and their programs are disparaged as "the looters and their laws." Every new act of government futility and stupidity carries with it a benevolent-sounding title. These include the "Anti-Greed Act" to redistribute income (sounds like Charlie Rangel's promises soak-the-rich tax bill) and the "Equalization of Opportunity Act" to prevent people from starting more than one business (to give other people a chance). My personal favorite, the "Anti Dog-Eat-Dog Act," aims to restrict cut-throat competition between firms and thus slow the wave of business bankruptcies. Why didn't Hank Paulson think of that?

These acts and edicts sound farcical, yes, but no more so than the actual events in Washington, circa 2008. We already have been served up the $700 billion "Emergency Economic Stabilization Act" and the "Auto Industry Financing and Restructuring Act." Now that Barack Obama is in town, he will soon sign into law with great urgency the "American Recovery and Reinvestment Plan." This latest Hail Mary pass will increase the federal budget (which has already expanded by $1.5 trillion in eight years under George Bush) by an additional $1 trillion -- in roughly his first 100 days in office.

The current economic strategy is right out of "Atlas Shrugged": The more incompetent you are in business, the more handouts the politicians will bestow on you. That's the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies -- while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With each successive bailout to "calm the markets," another trillion of national wealth is subsequently lost. Yet, as "Atlas" grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate "windfalls."

When Rand was writing in the 1950s, one of the pillars of American industrial might was the railroads. In her novel the railroad owner, Dagny Taggart, an enterprising industrialist, has a FedEx-like vision for expansion and first-rate service by rail. But she is continuously badgered, cajoled, taxed, ruled and regulated -- always in the public interest -- into bankruptcy. Sound far-fetched? On the day I sat down to write this ode to "Atlas," a Wall Street Journal headline blared: "Rail Shippers Ask Congress to Regulate Freight Prices."

In one chapter of the book, an entrepreneur invents a new miracle metal -- stronger but lighter than steel. The government immediately appropriates the invention in "the public good." The politicians demand that the metal inventor come to Washington and sign over ownership of his invention or lose everything.

The scene is eerily similar to an event late last year when six bank presidents were summoned by Treasury Secretary Hank Paulson to Washington, and then shuttled into a conference room and told, in effect, that they could not leave until they collectively signed a document handing over percentages of their future profits to the government. The Treasury folks insisted that this shakedown, too, was all in "the public interest."

Ultimately, "Atlas Shrugged" is a celebration of the entrepreneur, the risk taker and the cultivator of wealth through human intellect. Critics dismissed the novel as simple-minded, and even some of Rand's political admirers complained that she lacked compassion. Yet one pertinent warning resounds throughout the book: When profits and wealth and creativity are denigrated in society, they start to disappear -- leaving everyone the poorer.

One memorable moment in "Atlas" occurs near the very end, when the economy has been rendered comatose by all the great economic minds in Washington. Finally, and out of desperation, the politicians come to the heroic businessman John Galt (who has resisted their assault on capitalism) and beg him to help them get the economy back on track. The discussion sounds much like what would happen today:

Galt: "You want me to be Economic Dictator?"

Mr. Thompson: "Yes!"

"And you'll obey any order I give?"

"Implicitly!"

"Then start by abolishing all income taxes."

"Oh no!" screamed Mr. Thompson, leaping to his feet. "We couldn't do that . . . How would we pay government employees?"

"Fire your government employees."

"Oh, no!"

Abolishing the income tax. Now that really would be a genuine economic stimulus. But Mr. Obama and the Democrats in Washington want to do the opposite: to raise the income tax "for purposes of fairness" as Barack Obama puts it.

David Kelley, the president of the Atlas Society, which is dedicated to promoting Rand's ideas, explains that "the older the book gets, the more timely its message." He tells me that there are plans to make "Atlas Shrugged" into a major motion picture -- it is the only classic novel of recent decades that was never made into a movie. "We don't need to make a movie out of the book," Mr. Kelley jokes. "We are living it right now."

Mr. Moore is senior economics writer for The Wall Street Journal editorial page.

Copyright 2008 Dow Jones & Company, Inc. All Rights Reserved
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NEW THOUGHTS COMING
A preview of where my mind is wandering as I catch up on a week's worth of mail, newspapers, magazines, and emails.  The most important topic to deal with right now is MANAGING IN THE MIDST OF UNCERTAINTY.  I know, uncertainty has always been around.  But never has it been so pervasive, so widespread and far reaching.  Think about the level of interconnectedness and uncertainty in our global arena:

• GREED & STUPIDITY: Greedy lenders in the USA, aided and abetted by irresponsible Congressional leaders, loaned money to millions who couldn't shouldn't ever have tried to own a house.  Worse yet, speculators jumped in and started leveraging and flipping houses like selling penny stocks.  Until they wouldn't sell any more.  Housing values tanked.  Loans were defaulted. Mortgages failed and properties foreclosed.  Housing starts tanked even worse and excess inventory of homes and depressed values hammered the housing industry.
• DECEPTION AND FRAUD: Since banks sold these irresponsible mortgages bundles with a few good ones (like bushels of rotten apples with some good ones on top for show), the credit problems spread worldwide.  Europe, whose financial institutions had already used more leverage than the US starts tanking too. A global credit crisis hits, followed closely by a banking and insurance crisis.    Oil climbs crazily to near $150/bbl., stressing everything downstream.
• IRRESPONSIBILITY AND MISCONCEPTIONS: All because people acted irresponsibly and stupidly.  Everyone cannot and should not be able to own a home.  Only those who can afford one should.  Every youth should not, and does not deserve to go to college.  Only those with the desire, the commitment and the intellect--and hard work to achieve--deserves to go to college.  But that's not a tragedy.  There are millions of good jobs going unfilled.  Technicians, practical nurses, orderlies, plumbers, carpenters, elder care aides, mechanics, truck drivers, call center operators, etc. etc.  None of these jobs require college, but all are valuable, important and most have shortages.  What happened to the "proud trades person?"
• FEAR AND ANXIETY:  Debt laden consumers start losing jobs in housing related industries, become scared and cut back on spending.  The home equity line is no longer a bottomless credit card cache.  Consumers start cutting back spending and over-retailed stores start failing and closing, which causes more job losses.  Suppliers to retail are now losing business so they order less--from China and all over.
• GLOBAL CASCADE:  Slowing of consumer demand from developed nations resulted from the above.  This slows the economy of China and other LDCs thus reducing demand for oil, steel and other commodities causing the speculator driven pricing to collapse to where oil drops below $50/bbl.  China has money, but needs business.  India has money, but when trade slows dramatically, results drop, causing fraudulent reporting of income.
• MILITANT UNREST EVERYWHERE:  North Korea and Cuba have aging and infirm leaders, which leads them to flip flop on positions, reflecting the uncertainty in a time of transition. Hugo Chavez' false petro-power is waning.  Israel tires of Hamas' raining rockets and attacks.  Iran's economy is suffering and the oil price collapse worsens it, making Ahmadenijad's reelection as President less likely, but the "mullahs" still really rule Iran.  The Taliban are emboldened by the lack of development of an independent Afghani military lacking sufficient "NATO allies forces" to keep order.  The US concentrates on an "orderly" withdrawal from a newly, more peaceful Iraq--hoping that its withdrawals doesn't reopen sectarian violence all over again.  Russia's newfound "oil wealth" dissipates, leaving only a hollow belligerence.
• POLITICIANS PLAYING ECONOMISTS & SANTA CLAUSE (OR ROBIN HOOD?):The powerful US economy stumbles along, finding new disappointments daily in earnings, asset values and the worth (or integrity) of companies.  The government pushes to stimulate the economy out of recession and looming deflation with massive infusions of money--all created out of thin air and debt.  It is a necessary stimulus--like a shot of pure adrenalin--but how and where to apply it, how to use it and what to do if/when it doesn't work, because it is misused, wasted, etc. is a frightful dilemma.  Following this kind of debt and monetary infusion, inflation must necessarily follow--but not until a recovery begins.

THERE IS NO DOUBT THAT OUR NEW PRESIDENT FACES UNPRECEDENTED CHALLENGES
Ironically, it is my prediction: that Obama's greatest problems will not be a resistant Republican minority in Congress, but a foolish, bickering, power-hungry and inept Democratic majority.  When new Senators such as Roland Burris, possibly Al Franken and Caroline Kennedy are part of the group who much lead our country through these turbulent times we are in BIG TROUBLE, indeed.

WE MUST PERSEVERE--AND TO THAT END---
My good friends Admiral Ed Straw and Ron Loveless both sent me this link.  It is for those who want to re-think their potential, how they view what they can and cannot do, and how good (or bad) they have it in life. DO NOT MISS THIS ONE...  CLICK ON IT ... OR PASTE IT IN YOUR BROWSER!
http://www.maniacworld.com/are-you-going-to-finish-strong.html

My question for you is "Are you going to finish strong?"   AND is America going to 'FINISH STRONG?"  DOES IT HAVE THE WILL?  AND IS IT WILLING TO MAKE THE SACRIFICES?   2009 and 2010s are the years that we can choose, to get up or not, and to finish strong, or not.  What we will do it the greatest uncertainty of all.

All the best, JOHN
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SPECIAL NOTE:  he following article from RID and the WSJ is for everyone to forward to their friends and send to their hospitals.  Tens of thousands of people die each year because of infections they get while in the hospital.  The number is virtually unmeasurable because so many of the infections start in such insidious ways, that no self-respecting hospital would admit to being so negligent. 

January 08, 2008

Hospital Scrubs Are a Germy, Deadly Mess
Bacteria on doctor uniforms can kill you

By BETSY MCCAUGHEY

You see them everywhere -- nurses, doctors and medical technicians in scrubs or lab coats. They shop in them, take buses and trains in them, go to restaurants in them, and wear them home. What you can't see on these garments are the bacteria that could kill you.

Dirty scrubs spread bacteria to patients in the hospital and allow hospital superbugs to escape into public places such as restaurants. Some hospitals now prohibit wearing scrubs outside the building, partly in response to the rapid increase in an infection called "C. diff." A national hospital survey released last November warns that Clostridium difficile (C. diff) infections are sickening nearly half a million people a year in the U.S., more than six times previous estimates.

The problem is that some medical personnel wear the same unlaundered uniforms to work day after day. They start their shift already carrying germs such as C.diff, drug-resistant enterococcus or staphylococcus. Doctors' lab coats are probably the dirtiest. At the University of Maryland, 65% of medical personnel confess they change their lab coat less than once a week, though they know it's contaminated. Fifteen percent admit they change it less than once a month. Superbugs such as staph can live on these polyester coats for up to 56 days.

Do unclean uniforms endanger patients? Absolutely. Health-care workers habitually touch their own uniforms. Studies confirm that the more bacteria found on surfaces touched often by doctors and nurses, the higher the risk that these bacteria will be carried to the patient and cause infection.

Until about 20 years ago, nearly all hospitals laundered scrubs for their staff. A few hospitals are returning to that policy. St. Mary's Health Center in St. Louis, Mo., reduced infections after cesarean births by more than 50% by giving all caregivers hospital-laundered scrubs, as well as requiring them to wear two layers of gloves. Monroe Hospital in Bloomington, Ind., which has a near-zero rate of hospital-acquired infections, provides laundered scrubs for all staff and prohibits them from wearing scrubs outside the building. Stamford Hospital in Connecticut recently banned wearing scrubs outside the hospital.

Across the pond, a British study found that one-third of medical personnel did not launder their uniforms before coming to work. One British surgeon who specializes in hip and knee replacements reduced postoperative infections by two-thirds at her hospital by protecting patients from contaminated uniforms. Before approaching any patient's bed, nurses put on disposable, clear plastic aprons that were pulled off rolls like dry cleaning bags. Each one costs a nickel.

In response to this evidence and public outrage over infections, the cash-strapped British National Health Service is providing nurses with hospital-laundered "smart scrubs." The smart design includes short sleeves, because long sleeves spread germs from patient to patient.

The new British policy will protect patients and prevent superbugs from being carried outside hospitals. In one study, more than 20% of nurses' uniforms had C. diff on them at the end of a shift. The germ can cause extreme diarrhea, dehydration, inflammation of the colon, and even death.

In a hospital, C. diff contaminates virtually every surface. It spreads when traces of an infected person's feces get in another person's mouth. Patients who touch objects in their room and then eat without washing their hands unknowingly swallow the germ. Many otherwise healthy patients who go into the hospital for elective surgery, such as hip replacement, have contracted C. diff and died.

Outside the hospital, C. diff is also difficult to control. It isn't killed by laundry detergents or most cleaners. Researchers at Case Western Reserve and the Cleveland Veterans Administration Medical Center found that even after routine cleaning, 78% of surfaces still had C. diff. Only scrubbing with bleach removed it. That's not the kind of cleaning restaurants are prepared to do after serving hospital workers.

Imagine sliding into a restaurant booth after a nurse has left the germ on the table or seat. You could easily pick it up on your hands and then swallow it with your sandwich. Hospitals should provide workers with clean uniforms and prohibit wearing them in public.

Ms. McCaughey, former lieutenant governor of New York State, is a fellow at the Hudson Institute and chair of the Committee to Reduce Infection Deaths.

Learn more about RID's lifesaving work at www.hospitalinfection.org.
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John L. Mariotti, President & CEO, The Enterprise Group,
Phone 614-840-0959    http://www.mariotti.net   
http://mariotti.blogs.com/my_weblog/
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THE ENTERPRISE--STARTING A NEW YEAR

THE ENTERPRISE

QUESTIONS FOR READERS OF THE ENTERPRISE--ALWAYS TRYING TO MAKE IT BETTER
please respond if you have an opinion on any question...
1) Formatting?  Is the format in which I send THE ENTERPRISE readable and does it come through on your computer OK?
2) Frequency?  Is the weekly format too often?  Or just right?  Any suggestions on that topic?  Is the weekend the right timing--for a Mon. morning read?
3) Topics--range and mix?  Is there too much or too little of certain things (now that the election is over, the political content will drop noticeably).  What else might I cover that I don't. Are embedded images good or bed?  How about "guest writers" --more or less--or same? 
4) Subscription?  Many people say I should either charge for it or sell advertising on it--or both.  What is your opinion?  Should I charge for it?  Is it worth money....how much?
5) Should I charge a subscription fee?  And if so, how much.  I have considered a range from $.02 per week (my 2 cents worth) which is $1 per year to $49/year, which is a dollar an issue.  Should there be two tiers?  A paid version and a free one, with just snippets of the content?
6) Should I consider advertisers? (who fit in the context of the material) Are you or is someone you know interested in advertising.  Price?  Probably about $50/ad--to reach about 500-600 direct readers and 1500-5000 who read it in "forwarded" versions.

Here's an idea.  If you want to "vote" that I charge for THE ENTERPRISE, enclose as your "vote" the amount you propose I charge for a year's subscription. Put it in an envelope and mail it to me @ 10218 Ashton Close, Powell, OH 43065.  
Nothing like voting with the real thing.  (I will not be insulted by any amount.)  I'll just apply it to my "current account deficit" just like the government does--and then go out and spend 10-20X that much! (:-)

NOW LET'S START OUT A NEW YEAR...THE 8TH YEAR OF THE ENTERPRISE

WHAT 2008 BROUGHT AND WHAT 2009 MIGHT BRING--AN UGLY LIST

• A recession and hopefully, by the 4Q of 2009, a slow, gradual recovery.
• A stock market collapse, and also hopefully, a recovery of values, not to where they started, but about half-way there.
• A financial crisis and a series of new regulations that restrict the valuation, rating and amount of leverage financial institutions can use.
• Low interest rates which will probably continue, and low inflation as well (except for the spike in oil prices and commodities, much of which has gone back down).
• A huge, "bust the budget deficit,"  created by a governmental spending binge--not "just the $2-3 Trillion on Iraq" but on everything.  Expect it to get worse, grow more, and since the government owns the printing presses, it will simply create the money.  Sooner or later, this will lead to a large dose of inflation (Loosely defined as the price/cost of goods or services rising when there is no or a lesser increase in the underlying value of those goods/services.)
• Bailouts of every kind, some deserved, some well-intended, and most of them, "stupid" and a waste of taxpayers money.
• New government "works projects" to rebuild our failing infrastructure and create jobs.  Unfortunately, the government is not a very efficient nor effective project manager, so the only way these things will get done and be less than boondoggles will be if the private sector takes them over and runs them.
• Unsold houses, foreclosed houses, failed mortgages, losses of equity by homeowners, and the end is not yet here--maybe the bottom has been reached or passed--maybe.
• An increase in credit card debt, soon to be followed by defaults on credit card debt hitting banks another blow.
• Convenient amnesia about the urgent need to become more energy independent in the USA.  Gas prices back down under $2/gal. is a great chance to fund this with a new gas tax--graduated to higher taxes on special blends and higher octanes.
• A recession of sorts in China (growth rate drops to 5-6%, causing internal political unrest?) as its largest customers-- the US and other developed countries (Europe and Japan) go through their own recession woes.
• Huge drops in consumer spending leading to failure of perhaps as much as 25% of all retail outlets.  The byproduct will be lost retail jobs, empty storefronts, both old and newly overbuilt, and a huge mass of distressed merchandise being liquidated, and undercutting the sales of surviving merchants.
• The start of a decline in exports as the dollar strengthens--and the export decline will continue, costing Americans jobs and the government tax revenue.
• An increase in unemployment to the 6-7% range, which will likely grow to the 8-9% range before reversing itself--at the soonest--in the 4Q of 2009.
• A new President elect--biracial for the first time, a moderately liberal Democrat and a more liberal Democratically controlled Congress--which will lead to a whole shopping list of new laws, mostly involving the government getting bigger, taking a larger role in your life, and a still larger share of you income to pay for it all.
• A new "Tar Baby" military involvement in Afghanistan as the US pulls out of a recovering Iraq.  NO ONE has ever won a war in Afghanistan.  The best thing America can do is stay at "arms length" and insist that "Allies/NATO/et. al. pull their share of the duty and that the goal is for the Afghanis to govern and police their own country.
• A reluctance to spend the money necessary to rebuild our depleted military, and update our "weapons arsenal--including nukes--which are still based on 1960's technology.  If someone doesn't update our nukes soon, all the people who knew how they were designed and build will have passed away--and there are few or no programs in process to replace them. 
• The Defense Dept. and the Joint Chiefs of Staff could truly work together (but they won't), and many expensive projects could be cancelled. The money could be spent more wisely.  Each branch of the military wants its own version of everything, because the "cooperation and collaboration" to share resources is simply not as good as it should be.
• The question of how to replenish our manpower in the armed forces is as pressing as any.  Nobody seems to be concerned enough about it.  See the book reference ("ONE WEEKEND A MONTH") below to better understand this dilemma.
• An unstable world with Israel fighting Hamas, Iran standing by just "itching" to get in on it; transitions of leaders in N. Korea and Cuba; Russia's belligerence slowed by the drop in its oil derived wealth, a chastened dictator in Venezuela for the same reason, and a new US Administration's foreign policy.  I never thought I'd say it, but I'm OK with Hillary as Sec. State, given the other choices that might have been made.  She's smart, tough, and her "experience" may be more useful in this arena than any other part of the Obama administration--and that includes Bill's role.

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YOUR 15 MINUTES OF FAME?  HERE'S YOUR CHANCE!
The Economy and You – A Guest Request
My old friend and accomplished author Will Kaydos is seeking guests from the business, education, and government communities to be interviewed on his new talk radio show “The Economy and You.” The interviews will take about 40 minutes and can be conducted anytime from 9:00 AM to 10:00 PM, any day of the week at the guest’s convenience for replay later. The show focuses on how individuals may be affected by the changing U.S. and world economies and what they can do to take advantage of opportunities or to protect themselves from harm. 
Suitable topics are anything individuals would find helpful or interesting such as personal finance,  career planning, finding a job, advancing a career, government resources and policies, the labor market outlook, starting a business, marketing, and selling yourself.    Almost anything in the business world can be related to individuals in one way or another. Your personal experiences and viewpoints can be interesting and helpful to the audience of 25-55 year old men and a significant number of women. 

Guests will get a little free advertising on the show and their session along with their business URL will be listed on the show’s page on The Real State of the Union’s website, www.rstu.org.   If you would consider being interviewed, please contact Will Kaydos at [email protected]  and he will send you more detailed information. The first shows will be recorded after Christmas.  Here's your chance at your "15 minutes" (actually 40 minutes) of FAME!

Will's latest book THIN ICE--AND MELTING--Why Our Economy is Failing and How We Can Stop the Meltdown is now out and available on amazon.com.  The link is shown below.  In this book Will doesn't just explain what's happening.  He documents it with facts and figures (how's that for a fresh approach).  The information may scare you, or it may affirm what you think, and it will certainly help explain some of the inexplicable trends we are seeing.  IF you know anyone in the rest of the mainstream media--please recommend this book to them.  It contains more factual information than a year's worth of the network news.
http://www.amazon.com/Thin-Ice-Melting-Economy-Meltdown/dp/0615252826/ref=sr_1_6?ie=UTF8&s=books&qid=1230002098&sr=1-6
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SOME OTHER BOOKS I PROMISED TO TELL YOU ABOUT

LEARN TO DEAL WITH CHANGE & LEAD PEOPLE?  READ THIS ONE
They say the only constant is change, and in times like these knowing how to "deal with change" seems like a critical skill. Here's a good place to start.  Rick Maurer speaks at a level that everyone can use.  He has written about how it feels to both be "Caught in the Middle" and to "manage from the middle."  Some of it will seem like "common sense" until you think about how commonly it isn't followed.
If you have anything to do with "middle management" this is a must read book.  The nicest part is that it's short and written in simple English.  It's a treasure.
http://www.beyondresistance.com

ONE OF THE MOST COMPELLING "FICTIONAL--BUT TOO CLOSE TO ACTUAL" BOOKS I'VE READ IN A LONG TIME
You simply must go on-line and get ONE WEEKEND AT A TIME, by Craig Trebilcock.  And if you start reading it, you will find, like I did, that you cannot put it down.  And you will keep saying "I can't believe it."  Well, "believe it--or at least most of it."  It is fictionalized, but it is very close to the truth.  Craig was the PA lawyer who sent me some incredibly insightful information about what was being done wrong in Iraq a few years ago.  This is "boots on the ground" stuff.  Skip Malcolm Gladwell's latest book--you've read the high points in the many reviews--and go to amazon to get this one.  http://www.amazon.com/One-Weekend-Month-Craig-Trebilcock/dp/1591138922/ref=sr_1_1?ie=UTF8&s=books&qid=1231110178&sr=1-1

-----------------------THE LAST WORD(S)---------------------

THE LARGEST US ECONOMIC PROBLEMS--LONG TERM--ARE "UNDER-FUNDED ENTITLEMENTS:"  SOCIAL SECURITY, MEDICARE, AND THE USA HEALTH CARE SYSTEM OVERALL

I WILL TAKE JUST ONE AT A TIME, SO THIS WEEK, HERE'S ARE SOME IDEAS ON THE HEALTH CARE SYSTEM, WHICH WILL ALSO IMPROVE MEDICARE, ETC.

HEALTH INSURANCE--NO LONGER TIED TO A JOB?
This is a legacy from a practice that was instituted to circumvent WWII wage and price controls.  Instead of higher pay, employers offered free health insurance and the government encouraged the practice by making it tax deductible for employers and non-taxable for employees.  Thus the majority of Americans "accidentally" wandered into what we took for granted for a half-century.  With the time people spend with employers dropping fast, and the need for portability, there is no longer a valid reason for tying health insurance to a job.  Groups are necessary to spread the risk--and in many cases subsidize costs for the unhealthy by penalizing the healthy--so they simply don't signup.  That is a sizable part of the 45+ MM uninsured.  They simply don't want to pay premiums to support the chronically or catastrophically sick minority.

HEALTH INSURANCE FOR ALL--A  COSTLY PROPOSITION!
Being part of a large group has become synonymous with economical health insurance costs.  Maybe, and maybe not.  The first priority is fixing the "system" and reducing the cost of health care.   Somebody will pay the bill for health care.  If employers don't pay it as a benefit (making them less competitive with foreign competitors who don't have those kinds of costs), it will get levied in with taxes--on businesses and on individuals.  That's simply the American way.  Take care of everybody and charge the most productive, wealth creating part of society with the bill to cover the indigent, the lazy, the unmotivated and the unwilling-to-work group--which is large and will continue to growing--especially if new immigration laws admit another 12-14MM illegal immigrants (which they likely will!!).  This will cost  $Billions, no, actually $Trillions if taken over 8-10 years--but it is what 75%+ of Americans seem to want, regardless of the cost. 

WANT TO SAVE MONEY, MR. PRESIDENT?  MANDATE: ELECTRONIC PORTABLE MEDICAL RECORDS, PRICES QUOTED IN ADVANCE & BAN ALL DRUG ADS ON TV
The Massachusetts Plan pioneered while MItt Romney was Governor, seems to be Obama's blueprint.  It is mostly working (even though nobody gave Mitt much credit for it).  There are HUGE health care savings available,  but that still won't drop the cost of a plan that covers "everyone" to less than "Billions and billions" of $$$.  Regardless, the one thing the government does well is mandate things, so here are four that will help a lot.

1)  Banish prescription drug advertising from all electronic media (TV, Radio, Internet, etc.).  This will do several important things.  It will take away the means that pharmaceutical companies use to "create new or obscure illnesses for which they just happen to have a cure."  Patients won't be coming into the Doctor's office demanding all of the latest drugs (and let the insurance pay for them) IF they don't know about them--and the vaguely new illness they are reputed to cure.  This will also reduce the incentive for pharmaceutical companies to "fake it" or bribe professionals to slant the test results and interpretations to support these new drugs and the vague illnesses they reputedly cure. 
(For more on this, I beg you to buy and read OVERDOSED AMERICA by John Abrahamson, M. D., a Harvard faculty "family practice physician" who became outraged by the number of patients coming to him for medications to cure things that were caused by lifestyle problems and misbehavior.  He tees up the abuse and idiocy and it is all documented.  He took a sabbatical from his work at Harvard to write it--and it is "right on.")

2) Mandate that all medical records/systems be put in a standardized digital format, suitable for portability (flash memory with password protection).
This will cost effort up front, and if the government wants to help fund it, it can be done via tax breaks for medical service providers who get up to speed fast, and penalties for those who are slow or reluctant.  Medicare is one vehicle with which to do it, but simple "business tax" breaks or penalties are another.  Not only will this save a lot of money once it is completed; it will also reduce errors and allow the use of artificial intelligence to warn about drug interactions, screen for excessive testing that is not indicated by the diagnosis.  The Docs and their staffs will learn the loopholes in coding fast, but the records will still be instantaneously available, portable and accessible for analysis--pre-, post, and any time.

3) Mandate that the cost of all medical services and procedures and devices be quoted before proceeding (except in emergencies), and approved by the patient.  Also insist that any generic or lower cost options be disclosed.  Taxis do it.  Auto dealers do it.  Why should Medical service providers be exempt.  Since the lists will be long, complex and unintelligible to patients, make it the medical providers' responsibility to designate which ones apply and why.

4) Mandate that dramatic improvements in sanitary practices: hand washing, reuse of clothing, medical devices, etc. be overhauled to reduce infections.  Infections claim thousands of lives each year, and most are caused by inadequate or uninformed sanitary and cleanliness practices in hospitals, etc.  http://www.hospitalinfection.org/
Go to the preceding web site to see how dramatically this will help.  Most restaurant kitchen cleanliness standards are more stringent than those in hospitals. 

These are not complex concepts and can be done simultaneously with the development of a new Health Care/Insurance system. 
If any reader knows Tom Daschle, please send these steps to him.

NOT A WORD ABOUT THE US AUTO INDUSTRY
How about that.  Plenty has been written already.  We'll see what happens.

I hope you will respond to my questions at the start of this edition. I enjoy writing THE ENTERPRISE, but I write it also for readers to enjoy.  I need your feedback and input.  That's the only way it can get better.  If anyone has a connection to get it more widely distributed, please let me know about that too.  More readers, more reach means more feedback and perhaps some new ideas, input and solutions.

For now, try to get through the tough few months coming up.  Expect a grim 1Q, and fairly weak 2Q, and perhaps a glimmer of hope in the 3Q, that the 4Q will start the recovery.  We didn't make this mess overnight.  It won't get better overnight either.  But it will get better, eventually, and those who are the best, and can hang in there, will be standing tall when that happens.

Best, John

THE ENTERPRISE--GOOD NEWS & HOLIDAY GREETINGS

THE ENTERPRISE--HAPPY HOLIDAYS

AS THIS HOLIDAY SEASON SWINGS AROUND--COUNT YOUR BLESSINGS
Look at your family and friends, you home and town/city where you live, the places you can go to shop, eat, find services, enjoy entertainment, be informed and answer this:  What place is better?  Every time I travel internationally for an extended time, even to the most famous, scenic or glamorous places, I find that they are all a bit less "fine" if you look closely.  And when that immigration official in the USA says, "Welcome Home," I still have a flood of emotion--pride, happiness and satisfaction that I live in the best country in the world--and I am both happy and proud of it. 

May God Bless America--and you and yours--this Holiday season.

Photo by Tom Heuerman

IT'S TIME TO REMEMBER THE GOOD NEWS--BUT THERE IS LOTS OF IT

• Retail sales down from a YAGO but both Black Friday and Cyber Monday were strong.  People are still shopping, but with sharper focus than ever, although below last year's rate...
• The US has clearly turned a corner in IRAQ, and progress that was once considered impossible is already underway, however fragile...
• 7% unemployment may be awful, but it means that 93% of people are still employed. Ditto for foreclosures...
• Barack Obama is making "measured and balanced" choices for key  roles in his admin, and most are solid, experienced people, which bodes well for his decision processes...
• Ford can probably make it without any government intervention (unless that intervention messes up its playing field), a big difference from GM & Chrysler
• The financial, banking and even the housing industries are slowly, but surely finding their footing again, and will continue to do so...
• Americans still have many more freedoms than most countries--to meet in groups, to say what we think, to go where we want, to own property and hold wealth (even if less of it), to vote for our elected officials (freely and privately), and on and on...
• Americans still enjoy the best standard of living in the world, with more comfort, more amenities, clean water, sanitary facilities, available electricity, and a better life overall, etc....
• We still have the best transportation system in the world too, even if it needs maintenance and some work...
• We have more media and information accessible than ever, and it is growing daily (even if a lot of it is biased--it isn't government controlled--not yet anyway...)
• The US economy at $14 trillion as large as than the numbers 2 (Japan), 3 (China) and 4 (Germany) added together...
• Foreign investors are buying our Treasury Bills at ZERO PERCENT interest--because they believe we can/will stand behind them and pay them off...
• The US received $233 billion of foreign direct investment last year--far exceeding any other nation, including China--so someone thinks it is a pretty special place
• We have the strongest colleges and universities in the world--and there is still room for improvement, especially in our flawed secondary schools...
• Of 45 million uninsured, 1/4--1/3 are illegal immigrants, another 1/3+ can have/qualify for coverage and don't use it.  We must be careful we don't break our health care system in the process of trying to fix the wrong problems.
• In nature, when an area becomes "overgrown" or "overpopulated" some natural force (forest fires, predators, storms, etc.) "thin it out."  Why are we surprised that the same thing is happening in global business?
• After every recession, there is a recovery--sooner or later--the only question is how soon (or late) and how much, how fast the recovery will be...
• America is the world's military leader (some think this is a dubious benefit, but try being one of the "also-rans" and see how it feels)
• There are thousands more statistics and instances I could add--find some of your own... because...
• As Tony Blair said, "A good indicator of a great country is that more people want to enter it than leave it"

SO TAKE SOME TIME WITH YOUR LOVED ONES, AND BE PROUD; FEAR NOT AND PERSEVERE; ... AND PRAY...
This too will pass--although many will suffer along the way--our country, and our people have shown remarkable resilience and the ability to recover from every form of disaster.
Pray that this Christmas and the coming New Year will signal the darkness before the dawn of an improving economy, a more peaceful world, and a happier nation--one that is proud of its many strengths--and one that is unified in the desire to make its future brighter than its past.

MERRY CHRISTMAS TO ALL, AND TO ALL A GOOD NIGHT.

JOHN

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HAPPY HOLIDAYS TO ALL
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John L. Mariotti, President & CEO, The Enterprise Group,
Phone 614-840-0959    http://www.mariotti.net   
http://mariotti.blogs.com/my_weblog/
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