You see right away knowing I am from Brooklyn your mind goes to the street! I am not talking those John’s silly. I am talking the Chambers type from Cisco.
If you read the last article on my blog, I wrote that in order for Capitalism to work there must be failures so new ideas by the same people or new people get formulated. This goes against everything we are currently doing, except…….
The Cash for Clunkers program, if it is done correctly. It is a great idea coming out of a malaise the car industry has never seen. The prerequisite that it is necessity for capitalism is the question; is it a hand out or a money maker? So this is where if it is done correctly comes in. The obvious returns to the taxpayer are the sales tax generated by the car sales. The less obvious is what they do with the scrap metal and how much profit this scrap metal can produce when formed into a new product. Does the taxpayer get this money back?
Ok I have strayed away from my topic about the Johns; remember Chambers and Welch, not the guys that goes psssst come over here in a dark alley in Brooklyn.
John Chambers gave an interview in the NY Times business section this Sunday and it was a really great read. Chambers said; “People think of us as a product of our successes. I’d actually argue that we’re a product of our challenges…”
The best lines were when Chambers described a great life/business lesson from Jack Welch that he had in 1998. He asked Jack Welch “… what does it take to have a great company?” Jack replied “It takes major setbacks and overcoming those.” To which Chambers replied that they already had accomplished that. Jack replied, “No, John. I mean a near-death experience.” Chambers went on to describe how close the company had come to total upheaval and how they fought the challenge to become a better company.
This is how Capitalism works. If this had happened a month ago John calls up our ATM Government and says,” hey listen guys we are having some problems over here and we are thinking of going out of business and you know we have 58,000 employees and you know how many other businesses will follow and you know………….
K’Ching, K’Ching out pops the $34,000,000,000 in cash from the Uncle Sam ATM —- Meaning Us!!!!!
