Archive for August 11th, 2009

Those %^#^%@ health insurance companies … and their “record profits”

August 11, 2009

Obama says health insurance companies are “making record profits, right now.”

Not so fast, Barack.

According to Fortune:

Health insurance companies – as a group — rank #35 in return-on-sales at a measly 2.2% …

,,, and they rank #31 on return-on-assets at 11.1%

Actually, that was last year.  This year, profits are are down 50%.

I guess you can’t let the facts get in the way of a good rallying cry.

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Source article:
http://www.politifact.com/truth-o-meter/statements/2009/jul/23/barack-obama/health-insurance-company-turned-profit-not-rec/

Fortune data:
http://money.cnn.com/magazines/fortune/fortune500/2009/performers/industries/profits/

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“On Sale” at Tiffany … doesn’t sound right, does it ?

August 11, 2009

The downturn has forced the likes of Tiffany, Chloé, and Chanel to quietly lower prices, a strategy that could tarnish their glitzy brands.

For example, Business Week reports that Tiffany quietly nudged down prices for engagement rings —one of its biggest sellers — by about 10%. Salespeople tell customers about the reductions, but otherwise there’s no publicity, no signs.

The dilemma that Tiffany and other purveyors of luxury goods face is how to use price cuts to woo customers without tarnishing their brands.

Executives are well aware of the need to woo today’s frugal buyers while trying to maintain tomorrow’s prestige. Some have chosen to be discreet by refusing to advertise sales or by e-mailing “exclusive” offers to select clients.

Retail experts argue that price cuts could prove to be perilous for luxury retailers. “The losers [in this recession] will be the ones who destroyed their brand by discounting them”

Excerpted from: Business Week, In Luxury Sector, Discounting Can Be Dangerous, July 23, 2009
http://www.businessweek.com/magazine/content/09_31/b4141049551979.htm

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Trading in American clunkers … for new Toyota rides

August 11, 2009

According to the Department of Transportation …

Top Trade-Ins Under Cash for Clunkers

1.  Ford Explorer
2.  Ford F150 Pickup 2WD
3.  Jeep Grand Cherokee 4 WD
4.  Jeep Cherokee 4 WD
5.  Dodge Caravan/Grand Caravan

Top New Car Purchases: Cash for Clunkers

1.  Toyota Corolla
2.  Ford Focus FWD
3.  Honda Civic
4.  Toyota Prius
5.  Toyota Camry 

Draw your own conclusion …

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What will happen when you (or your parents) are “shovel ready”?

August 11, 2009

Asserted by IBD:

“State-run medicine is a leading cause of death in Britain and Canada.”

Why?

Because federal bureaucrats make end-of-life healthcare decisions.

That’s why seniors are taking to the streets re: ObamaCare. 

Apparently, they take their own life (and death) quite personally.

http://www.ibdeditorials.com/IBDArticles.aspx?id=334799904390510

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