Are we entering a new era? Or is is is same old/same old?

[GordonJ]

I'm about to express some very strong opinions. Not today, but soon. I'm building a new web site just to do so (even I'll keep SowPub clean of my own politics)...

BUT, are we entering a NEW era? Are things as bad as the media makes it out to be? And what do you think of the Gulf of Mexico oil spill?

Feel free to express yourself in a civilized manner.

Gordon Jay Alexander

[MMacGillivray]

Hi, Gordon - controversy is good; discussion is so important - I'm looking forward to reading the new web site.

In the meantime, I'm truly heartbroken about the oil spill in the Mexican gulf; it's a real shocker.

My own opinion is that this is a classic example of what happens when large corporations aren't supervised enough; the profit motive is king - and I guess we all take chances when the bottom line is going to be affected.

I used to work in the oil industry (in a very minor capacity!) and occasionally I would hear tales of what this company or that company got away with in countries which aren't as well regulated as the UK or the USA. If it's bad in the Gulf of Mexico, just think of the potential for disaster in drilling operations in third world countries where oil company bucks speak much louder than the regulations.

Of course, this doesn't only apply to the oil industry. Think of the disaster at Bhopal. That should have been a wake-up call for industrial giants to make sure that the best safety and operating procedures are followed to the detriment of the bottom line if necessary.

It is right that President Obama is tackling this problem. However, I think there is a danger that, by emphasising the Britishness of the company, Obama is missing the real target - and that is the potential for disaster in all sorts of manufacturing environments both at home and abroad. (I believe, btw, that BP has more American employees than British ... to the tune of several thousand.)

Although based in London, the company has been effectively Anglo-American since its 1998 merger with Amoco – it employs 80,300 people, of whom 29,000 are in the US. Some 40% of its shares are held in the UK, while 39% are held in the US. A collapse of BP would destroy livelihoods, damage pension funds and wipe out savings on both sides of the Atlantic. For critics of "big oil", that's hardly a cause for tears. But BP's failure wouldn't dent America's reliance on fossil fuels even slightly. Ironically, the real beneficiaries would be other big oil companies.

http://www.guardian.co.uk/commentisf...t-bp-oil-spill

I don't think that BP has handled this as well as they could; but I do wonder how many oil industry executives at this very moment are scrambling to tidy up their own little pile of mess - and that applies to all oil companies irrespective of nationality.

Margaret

Thanks Gordon,

I've been following this topic closely and with great interest. Here is an excerpt from the Wall Street Journal:

"On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts."

Here is the full story: Arthur Laffer: Tax Hikes and the 2011 Economic Collapse

I bring this to everyone's attention so you can start to prepare for what will happen in your area. As history has shown us, and us old timers can confirm, when taxes go up, consumers start getting more selective in what they spend their monies on.

Meaning, smaller businesses will find themselves struggling even more to keep their current rates in place because consumers have less disposable income. When there is less disposable income, consumers are more aggressive about asking for discounts.

Now is the time to start reconnecting with previous customers. Make yourself more accessible. Start reaching out to them either through direct mail, email or stopping by their location as a courtesy call.

Just don't sit back and wait to see what happens. Because if it does turn out bad, you'll have lost 7 months to prepare. If nothing happens, you've still come out on top, because your previous customers have been reminded about you and your company.

[GordonJ]

I hope I'm optimistic.

Hermine will be the 8th named storm of 2010, and history shows the H letter often hits in August, the projected finish line for the relief wells.

Which means we only have to dodge, the OTHER 6 storms which could develop into a hurricane.

And Gulf tropical storms can produce flooding, as far north as PA.

BUT, as an old Navy buddy living in S. CA says, "it ain't the hurricane, it's the EARTHQUAKE"...

My "doom and gloom" forecast has as much to do with our troops being spread a little too thin and GOD FORBID we have to deal with Two NATURAL or man-made disasters at the same time.

This could be a major DOMINO which creates a massive ripple effect through an already struggling to rebound economy.

The politics of the Gulf Oil Spill are nauseating, but the SPIRIT of the American Entrepreneur and even the victims of the spill is remarkable.

Why don't we put our NASA dollars into Energy? A man on the MOON? Of course.

Alternative energy? Never had the real desire to do so, oil was too cheap, coal readily available.

This disaster is the final wake up call. And OH, we who want our SUV's and cheap gas, well, maybe the American's time has come when we really can't "have our cake and eat it too".

Gordon Jay Alexander

PS. Sneak peek at new web site: www.doomgloombliss.com It's just a shell and will be different on the 4th of the July, but you'll get the gist of it.