lundi, novembre 27, 2006

From The Shareholder Perspective

Underneath the weekend's mashed potatoes and stuffing and craptops lay news stories buried on the bathroom floor. Like offended thirteen year olds the media and lawmakers are out in force with cans of lysol and incense. Even the offenders know that it stinks.

So goes the story of Christine Sinicki, Marlin Schneider, Mike Ellis or Fred Risser.
None of the above have ever claimed or in normal circles, used sick time - even when, in Sinicki's case - bedridden. Something that most people reading this post would get fired for. It could only happen in an artificial economy like a governmental entity.

Because, if a publicly held company that was held responsible by true market forces had a liability of $3.2 million hanging over its head in unpaid, accrued sick time, they would be downgraded by analysts to "dump". It's the same as debt. And of course, $3.2 million today will compound and explode five, ten and fifteen years from now.

Something that cannot be sustained, even by an artificial market like government.

And since anything government touches goes up in price dramatically (take the cost of higher education, for example, since 1988), you can bet that when medicine goes socialized that the taxpayer's share will also compound. And not in a saved-and-scraped-and-invested compound interest kind of way.

Pee Wee Herman's show had a "word of the day". And whenever you heard the word, you had to scream. Liability is the word of the day. Dumping the shares is the only option. Or dumping the employees who don't claim sick time. Pie in the sky you'll say, but it doesn't change the fact that it's the truth.


Blogger Dad29 said...

The Party of Government never goes away. It's always lurking between the Porcelain God and the Treatment Plant.

I've also suggested that it should be named "Party IN Government."--with the acronym P I G

Hardly adequate, however.

9:31 AM, novembre 28, 2006  
Blogger Nick said...

I wonder if I could sell my shares... would they be worth anything?

12:43 PM, novembre 28, 2006  
Blogger Phelony Jones said...

well, what's your tax bill like?

3:26 PM, novembre 28, 2006  

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