This week Duffy decided to comment on three topics of interest. As a postscript to the Cash for Clunkers program, the September auto sales figures are out. They show a 5% decline for Ford, 42% for GM and a whopping 45% for Chrysler, just what Duffy predicted would happen. Chrysler just fired two top executives and the top sales executive for GM resigned yesterday. Rats jumping (or being thrown) off a sinking ship? Time will tell. Duffy is somewhat of an automotive buff and feels that Ford has the best selection of vehicles of the Big 3 with Chrysler the worst. Duffy expects that within a year 10 billion in taxpayer money will be flushed when Chrysler declares bankruptcy, this time for good. I doubt if Obama will try to save the company again. Duffy recently drove a Ford Fusion for 10 days while on vacation and was highly impressed with the car. Looked great, rode well and got about 33 mpg overall! Check it out. Meanwhile GM is too big to fail and it might not be until 2015 or ever for the taxpayers (you) to get your $50 billion back.
Duffy has been following the health care debate closely and doesn't like what he sees. A mishmash of compromise, consensus and confusion that will achieve little towards universal health care and cost the middle class billions in tax increases. The bill refuses to touch tort reform which is a big cost driver and will impose severe cost reductions on Medicare which will change the program for the worse and impact on seniors, in spite of what Obama says. Duffy would like for the whole thing to go away and to start over next year but the Democrats and Obama are determined to get a bill, any bill, no matter bad it is, passed. If passed your taxes will go up next year, count on it! And to require every American to have health insurance or else that person is fined by the government is, in Duffy's opinion, unconstitutional as hell and will be quickly taken to the courts.
Duffy woke up this morning to see that Obama won the Nobel Peace prize. Duffy is curious as he doesn't see any peace breaking out anywhere but the left leaning liberals of the Nobel Committee evidently felt that Obama's emphasis on "engagement", "talking" and "extending the hand of America" to one's enemies apparently shows great promise and potential. Duffy remembers when Jimmy Carter won the Nobel Peace prize and look how looney he's gotten in his old age. Duffy accordingly takes this with a grain of salt. But this prize will certainly be one more thing to inflate Mr. Obama's self-esteem.
Finally, Duffy believes the best philosophy he has ever heard is simply the Golden Rule, "treat others as you would like to be treated yourself." A corollary is this rule, "put yourself in the other guy's shoes." Duffy has tried to keep those principles in mind his whole adult life and if you do the same, believe me, it will help you a lot, both in business and personal relations. Some of Duffy's greatest deals in business were made when he "put himself in the other guy's shoes". Joint understanding often leads to the best solutions.
Have a great weekend!
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