Posts filed under “Really, really bad calls”
By now, you have surely heard about Indiana’s so-called Religious Freedom Restoration Act and its potential for giving cover to those who discriminate against gay people. A backlash that had already been gathering momentum burst open this weekend, driven by an op-ed by Apple Chief Executive Officer Tim Cook in the Washington Post. As Cook wrote:
America’s business community recognized a long time ago that discrimination, in all its forms, is bad for business.
The law’s passage has led to a torrent of business responses. I want to discuss the potential economic aspects of these, and what it might mean to the state of Indiana.
At stake are losses for manufacturing ($95.4 billion in annual state output), finance ($44 billion) and tourism ($10.3 billion) — not to mention reputational harm. Arizona adopted a similar religious-freedom bill last year, but “opposition from the state’s business interests led Republican Governor Jan Brewer to veto it.”
Any discussion of the economic implications and financial consequences of this law must take account of the speed of the response and the wave of unfavorable publicity
Continues here: Indiana’s Costly Anti-Gay Experiment
Governor Mike Pence is lying about the purpose of this law. The photo below, and who the governor invited to its being signed into law, very much reveals the motivation behind SB101 — its not pro-religion, its anti-gay, and thats wrong. Its also bad business — companies like Apple and Angies List may very well…Read More
Source: BAML, Fiscal Times I have been fairly agnostic on several issues related to where interest rates are heading. It has never been my job to forecast where the 10-year yield will be in six months. Not predicting and not caring are two very different things, however. Rates matter a great deal — to investors, to the economy…Read More
Every once in a while, there is a way to resolve a host of problems that is so obvious it gets overlooked. With that in mind, and in light of yesterday’s Federal Open Market Committee meeting and the reaction that followed, let’s have a look at four big problems: crumbling U.S. infrastructure; federal budget deficits; normalizing…Read More
Sometimes you have to diary these things for a few years and revisit them: Markets Showing ‘Extreme Similarities’ With 1929 Crash: Pro CNBC.com, Tuesday, 19 Mar 2013 | 8:53 AM ET “Investors should remain on the sidelines and wait for a market correction as a 4-year rebound comes to an end, Sandy Jadeja, chief market…Read More
This week, the NBC/Wall Street Journal poll on presidential contenders for 2016 came out. It was the usual sort of thing: Favorable versus unfavorable ratings for the candidates: Democrats like Hillary; Republicans like Jeb (but not as much as Dems like Hillary); no one likes Chris Christie or Donald Trump. But you might have missed a fascinating tidbit buried…Read More
Equity markets started off this year by falling. They rallied in February, working their way back into the green. The Standard & Poor’s 500 Index now is up about 1 percent for the year. Gold has traveled the opposite path: The yellow metal began at about $1,175 an ounce. By Jan. 23, it had rallied…Read More
I want to address the addition of Apple to the Dow Jones Industrial Average, so we have to get a few things out of the way up front. The venerable Dow isn’t really all that important. It began life on May 26, 1896, but in the last 30 or so years, it has faded in…Read More