Can rumor and speculation ruin a company? Can a company with 18 billion in reserve die within a week thanks to said rumors and speculation? Can a company with years in business and with every resource at its fingertips be destroyed in one simple interview? The answers are sadly yes and that’s why the stock market and being a public company is a taste I want no part of. For details on what I am talking about above you can click on this incredible article in Vanity Fair. It breaks it down based on the destruction at Bear Stearns. The article is 9 pages but well worth the time. Sometimes people wish to hit the big time and big money of being public- but after reading that article, there is no way I’d want to be anywhere near that action.
-- Speaking of the stock market, another angle of watching the “Street” in action was seeing the reaction to Apogee’s 1st Q results. The analysts expected one thing, the company missed it and BAM, the stock took a major hit. (Down 18% out of the gate) Everyone from Jim Cramer (of Mad Money fame) to the Motley Fools weighed in on what happened. It did not matter that the company did well performance wise, all that mattered was it missed its expectations.
By the way an interesting interview with Jim Cramer and the CEO of Apogee HERE.
I am still stunned that Apogee did not blame the fuel and energy more. Sure seems to me that would be an acceptable excuse. Then again what do I know, I have no stomach for this stuff.
-- Oh and note, fuel and energy are an issue- no matter how you slice it. It amazes me that people figure that they are covering their costs in the most volatile time we have every experienced. And that’s not a shot at Apogee but at everyone who sluffs this current scenario off.
-- One thing that bears watching in the coming times is the issue of “Greenwashing”- the FTC is getting involved and I think it will become an issue of people propping their materials for being “green” without he proper backing or understanding of the process involved. Its gotten way too easy to say “we’re green” and now the shoe is on its way to dropping. And no this is not to endorse a 3rd party style, NFRC like system- once again there’s checks and balances in play that will do the trick- without additional layers and un-necessary costs to burden everyone.
-- By the way, this blog is Green… ha ha ha. See using that term alone, just added another 10% in traffic! (This off of what I learned from the Times last week)
Off to the LINKS!!
-- As you may have heard Barack Obama is giving his acceptance speech at the Denver Bronco football stadium. What you may not know is the disaster behind the scenes of that convention. Great read here- and the best part of it is that the caterers can only supply food of certain colors! Seriously. Isn’t that food racism?
-- This billionaire says the
--My revenge on communist
-- The volatility of pricing for materials… is everywhere!