I don't know if he's right or not. All I can say is that when a businessman pays twice as much as the previous "top dollar" for an important input sold in an apparently competitive market, he's either really smart or making a big mistake.
Yet another illustration of the magic of the market.
If the manicured, chain-ified, tightly patrolled mall, a hulking simulacrum of public space, is the commercial analogue to the McMansion, then Phillipsburg Mall in its current state may well be a rough analogue to the future of our built places in general—a little denser, a little scrappier, a little more uncomfortable, and a lot more full of wealth and life.
Salena Zito defends Dollar General stores currently under attack--bizarrely--in some places.
Revenues (kinda), not profits, but still quite impressive.
Yet another inexcusable public policy.
John Tamny raises a fine point.
Regulators are those who mostly didn't rate acceptance at elite instiutions, plus it cannot be stressed enough that for the most part those who presume to regulate are the ones who couldn’t get jobs in the industries regulated.
Imagine then, what the above means to chief executives? While the businesses they run aim to achieve greatness by hiring the best of the best, they’re suddenly being “advised” on how to run their businesses, and most often being told how to run their businesses by individuals who could never hope to work for them in a normal world. It’s the equivalent of Goldman Sachs facing a requirement to hire a failed math student for a position on the arbitrage desk, or Saban being forced to play at quarterback someone who was a backup in high school.
What a wealthy society we live in.
The prediction that Amazon would wipe them all out proves definitely untrue.
Yves Smith instructs us--or at least me--on the "worst CEO in history": Archie McCardell.
People do go crazy for Wegmans. There were supposedly 3000 people waiting in line when the Raleigh Wegmans opened recently. But I was a bit disappointed in it and will stick to mostly to Harris Teeter, Whole Foods, and Trader Joe's.