Congratulations

To the New Orleans Saints.

Pfizer's Bad Political Bet

Kim Strassel at WSJ:

The twin events of an Obama presidency and a financial crisis rattled corporate America. Public anger put companies on the defensive. A liberal president vowing to punish firms that didn't aid his agenda got companies scared.

Fortune 500 execs could stand up for a free market that benefits consumers and shareholders, or hitch their cart to the new Democratic majority. Pfizer's Mr. Kindler is a case study in the hitch-and-hope mentality—a CEO who became the motivating force behind Big Pharma's $80 billion "deal" on reform, and industry support of ObamaCare. With that health agenda burning, the choice isn't looking so grand.

[...]

Public anger over ObamaCare doesn't help the industry's reputation. Many Americans now view drug companies in the same light as "crony capitalist" banks or energy firms that turn to government to bolster the temporary bottom line.

[...]

Mr. Kindler might take solace that he's not alone. Insurers, hospitals, utilities—many chose to accommodate a president whose health-care and climate agendas are now comatose. There's a lesson here for corporate America. Try standing up for the free markets and limited government that have always been the foundation of U.S. business. It might work out better.

The bet that executives such as Kindler made was a very cynical one - that government intervention would force people to buy their products and restrict their competitors.

I'm not one of those who is offended by profits in the industry, even large ones. I realize that the high prices charged for certain drugs are what ensures that future development and innovation occur. Absent this return, companies will not invest the massive amounts of money and other resources required to bring new treatments to those who need them. Some people would rather that drugs that are not affordable by all not be available to anyone, or believe that companies will still continue to develop new drugs without the return on their R&D investment, or that the government will be able to pick up this task if the pharmaceuticals cease making these investments. I strongly disagree.

On many occasions I have defended the pharmaceutical companies' right to make profits to friends, relatives and others. But it is hard for me to defend those who are willing to sell their souls to the state.

"The Big Game"

Apparently there's some kind of football game this weekend that's something of a big deal. All over the radio and TV I hear commercials referencing "The Big Game."

When I was younger I followed college and pro sports very closely and this is what I remember being referred to as The Big Game. But the college football season is over so that can't be it.

I'm wracking my brain trying to figure out what they're talking about. I seem to recall a game that occurred at roughly this time of year (actually a couple weeks earlier) that was called the "Super Bowl". It was a pretty big deal.

But I no longer see or read or hear anyone advertising Super Bowl Parties or Super Bowl Sales or Super Bowl Specials. It's all about The Big Game, whatever that is. So the Super Bowl can't be the game they're referring to because, well, why not just say "Super Bowl"? At least that way everyone would know what they mean.

So Sunday afternoon I'll be trying to find this Big Game that all of these businesses are talking about in their ads. If anyone can help me out with this, I'd sorely appreciate it.

By the way, if Indianapolis wins and the total points are over 59 I win our company pool. Go Colts!

Contact Me

At the request of one of my readers, I've displayed my email contact more prominently on the side. Since I already receive plenty of offers for Viagra and inquiries from relatives of deceased Nigerian ambassadors, it is somewhat encrypted but should be easy to figure out.

Oops!...I Did It Again!

Just as he did last year, President Obama made a comment discouraging people from visiting Las Vegas.

"This isn't how responsible families do their budgets. When times are tough, you tighten your belts," he said at a New Hampshire forum today. "You don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash in Vegas when you're trying to save for college. You prioritize. You make tough choices. And it's time your government did the same."

Unlike last year, the comment sparked a negative reaction from Nevada's Democratic Congressional contingent. Also unlike last year, the President issued a quick apology.

"I hope you know that during my Town Hall today, I wasn’t saying anything negative about Las Vegas. I was making the simple point that families use vacation dollars, not college tuition money, to have fun," Obama wrote. "There is no place better to have fun than Vegas, one of our country’s great destinations. I have always enjoyed my visits, look forward to visiting in a few weeks, and hope folks will visit in record numbers this year."

There actually is some validity to the President's comments. Had it not been for the comment he made last year it's unlikely this one would have garnered much attention. But last year's statement about Las Vegas undoubtedly did measurable harm to the local economy and it does seem that he has some fixation on Las Vegas.

It is also a little strange to hear someone who is planning to spend more money in one year than anyone else in the history of the world lecturing people on fiscal responsibility.

Will the Corporate Greed Never End?

An official with the organization that both lost more money last year and received more in taxpayer funds than any other has been routinely making cross-country flights on a taxpayer-funded jet accompanied by family members.