I just ordered some new signs to be posted in the yard offices today. They basically say that this is not a bazaar in Marrakesh therefore all invoices are non-negotiable as this is a boat yard.
My sign guy thought it may be a bit too harsh for our customers but I disagreed. Ironically, my sign guy was the CFO for Kinkos worldwide in a prior life. As we discussed my signs, we touched on the present state of the economy and business in general.
He had become a small business owner about two years before me so that along with the fact that he was running the finances of a billion dollar company, made me interested in what he had to say. The common takeaway of our discussion was that business stinks.
We also agreed that the current state of our banking system makes it impossible to obtain credit. I had mentioned to him that I have been communicationg with Elizabeth Warren’s office in DC regarding this problem and they seem to understand but have been slow in getting anything done.
So small business is hurting big time, the cutomers are puckered up, yet Wall St. and DC are flush with cash. I just read that Intel had record earnings. We that is great if you own stock in the company or make things for Intel etc. But realistically, the DOW can be at an all time high(IT IS) but main street is still only 90 days away from complete ruin.
My old mentor in Morgan Stanley days used to say, “Don’t worry Andy” “You need to subscribe to the Churp Churp theory” “When the snow melts, momma and papa america will head into town, order the new washer dryer, buy the new truck etc etc”
My fear this time is that Mama and Papa won’t be buying new, they’ll be down at the bazaar in Marrakesh negotiationg the repairs on the “OLD” washer dryer and truck!
Tough times
