Ford has chosen a location for the production of its new F-Series Super Duty truck. The destination for $700 million in new investment and 500 permanent jobs is the Right to Work state of Kentucky. The government of Louisville stated in a press release on the investment: Today, Mayor Greg Fischer joined Gov. Andy Beshear and Ford executives to announce that Ford Motor Co., which has produced motor vehicles in the commonwealth for 109 years, will expand its presence in Louisville with a $700 million investment creating 500 full-time jobs as the company prepares to produce the all-new Ford … [Read more...]
Archives for September 2022
American Multinationals Face Dollar Domination Reckoning
American companies that generate a lot of their revenues overseas are facing uncertainty over the dollar's surge. The Financial Times reports: A surging dollar creates good headlines for Americans looking to travel or send money abroad. But for US companies that generate a big chunk of their earnings overseas, the greenback’s gain has become a serious pain. The US Dollar Index, which tracks the buck against six other important currencies, is at a near 20-year high. It is up 19 per cent since the start of the year and continues rising. The euro has slipped below parity against the dollar … [Read more...]
FOLLOW THE MONEY: Wealthy Americans Fleeing High Tax States Faster than Others
Treasury bond yields are rising. You can sink your teeth into these yields. The interest on treasuries is generally exempt from taxation at state and local levels. That could come in handy if you're living in one of the high-tax states mentioned below. If you live in a high-tax state what are you waiting for? If you want to know what’s going on in the world then follow the money, or, in this case, the moving vans. I’m always interested in the work Chris Edwards does at the Cato Institute, and this is no exception. Edwards writes: My new op‐ed in the Examiner looks at the interstate … [Read more...]
Prices Are Like Adult Kids: You Don’t Have Much Control Over Them
Prices. They’re like adult kids. We don’t have much control over ‘em. What do we do with them? I’ll tell you. Tough love hurts. Spend less, save more. Become an independent inflation fighter. Because inflation means different things to different people. A new iPhone isn’t as important to me as, say, it is to someone else. Simple and to the point. Like an aged fine wine, you’ll be amazed at how smart your adult kids think you’ve become—so I’m told. All I remember right now is, “Dad I want to be a garbage man.” For me, time stands still on a long dirt road not far from our log cabin in … [Read more...]
How Will Europe Adapt to the Loss of Russian Gas Supplies?
Can Europeans simply conserve their way to energy independence from Russian supplies? Pierre Andurand suggests that is the case, writing for the Financial Times: Russia has historically supplied about 30 per cent of the EU and UK’s gas consumption by pipeline. Those exports have already been cut by 75 per cent. If Moscow stops them entirely, will Europeans freeze to death in the winter, as Russian propagandists have been warning? Almost certainly not. In fact, it looks as though Europeans have a great deal more capacity in managing the situation than the fearmongers thought. Much of … [Read more...]
Trying to Reason with Hurricane Season
“Do you see the waves crashing over that rock dead ahead?” my dad said loud enough for me to hear over the 25-knot winds and 7-foot waves crashing over our bow. “Yes, got it,” I said. “We’re good on this heading. We can round that red can up about a quarter mile ahead.” “It’s at one O’clock,” he said. “I’ve got eyes on it.” That’s where Your Survival Guy and his dad were on Sunday delivering the boat from Mattapoisett back to Newport. There was a small craft advisory that felt like it could have been for large craft. Our trip started out in calm waters, like many do, as we motored … [Read more...]
Last Year’s IPOs Suffering Far Worse than the Market
The companies that have come public over the last year are suffering so badly in comparison to the broader market, that they are scaring other companies away from an IPO. Corrie Driebusch reports for The Wall Street Journal: Recently public companies are among the worst performers in this year’s stock-market rout, contributing to a deep freeze in the IPO market that shows few signs of thawing. Roughly 87% of companies that went public in the U.S. last year are trading below their offering prices, down more than 49% on average as of Friday’s close, according to Dealogic. By rough … [Read more...]
Remembering Ronald Read Who Died with an $8 Million Fortune
Do you remember our old friend Ronald Read who died in Brattleboro, VT, in 2015 with an $8 million fortune? “He lived modestly, working as a maintenance worker and janitor at a J.C. Penney store after a long stint at a service station that was owned in part by his brother,” writes Anna Prior in The WSJ. “Those who knew him talk of how he at times used safety pins to hold his coat together and sometimes parked his 2007 Toyota Yaris far from where he was going to avoid having to feed the parking meter.” Prior continues: Mr. Read owned at least 95 stocks at the time of his death, many of … [Read more...]
UK PLAN: Spend More, Collect Less
New Prime Minister of the UK, Liz Truss, and her team have announced a new plan to cut taxes and spend more. Max Colchester, Anna Hirtenstein, and David Luhnow report for The Wall Street Journal: The British government unveiled the country’s biggest tax cuts since the early 1970s, the boldest move by an industrialized country to kick-start growth at a time when stubbornly high inflation stalks the global economy. Financial markets reacted negatively, prompting a slide in the pound and a big jump in government bond yields, underscoring the difficult choices facing governments as they face a … [Read more...]
Sink Your Teeth into These Bond Yields
“Red sky in morn, sailors take warn,” goes the saying. On this morning, the sun was as red as a lollipop, the kind that turns your tongue so red you want to show it to whoever’s next to you. Your Survival Guy heard it’s the dust, spun up from the wind, reflecting off the sun. Scientific American says it’s from the Bible (Matthew 16:2-3), attributed to a quote from Jesus. "When it is evening, ye say, fair weather: for the heaven is red. And in the morning, foul weather today for the heaven is red and lowering." Your Survival Guy’s 4 Ways to YOUR Wealth NOAA, not Noah of the Ark, has a … [Read more...]
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