No Less to Ponder as Summer Fades Away
Markowitz, Jack, Tribune-Review/Pittsburgh Tribune-Review
How can the calendar say fall when there are still leftover thoughts from summer?
It wasn't that long ago that somebody saw Ford Motor Co. stock at $1 a share. Absurd to buy just 100, he thought. This deserves an order of 1,000 shares, for only $1,000 plus commission. A once in a lifetime! Just one thing was amiss with this early summer plan of action. Our man never made the buy. And now Ford cruises around $7 a share. Still cheap, probably, 1,000 shares for $7,000 plus. But who can overcome flaws of personality? Some fellows just can't speculate.
On the other hand, General Motors languished about $1 a share back then and looked cheap. But it got cheaper. Like nothing. Bankruptcy. Incredible. And yet our man "bought" GM, along with 300 million other Americans -- as taxpayers, in the government's bailout- bankruptcy gambit. And wouldn't it be nice to see this "investment" prosper? By getting the taxpayers' money paid back to the Treasury. Never mind profit, just paid back.
Summer weather around here was notably cooler than usual. There were only what, two days at 90 degrees or above? This should have exploded the myth of global warming. But nothing ever does. Such powerful interests are lined up behind "green" markets now that the world must be warming; it's a socio-politico-economic necessity. Reassuringly, a lady up from Florida at a dinner table the other night reported the season "at Boca" unusually hot this summer.
Halloween is only a few weeks away but if you want scary, try this. …