CEO's Blog

Hello;
So the day of reckoning has arrived. I knew four years
ago or so, that the USA was heading for big trouble. With new debts being used to pay off old debts, and more government spending based on borrowed money and more credit card debts than consumers could pay, added on top of mortgages that were way higher than the value of the asset and many homeowners having bought more house than they could really afford, its a wonder that it took this long to implode.
An economy based on debt has to readjust itself every so often. Lenders and borrowers need to control themselves, or
the "system" will impose controls, and some will get hurt.
It is unfortunate that many CEO's and executives in the
"Financial" sector will live well on their contractual deferred salaries and "golden" parachutes in spite of this, while the average family will see its standard of living readjusted to a lower level, and their taxes needed to pay
for it all.
Maybe money based on the "gold standard" was better.
This is way too much ranting for one day.........
Maybe with this , investors will look for "long term" solid
companies like yours to invest in, rather than "quick-gain"
financial smoke and mirrors.
Jean-G.