Perkins’ Picks

Ideas More than Money are the Currency for Success

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IDEAS MORE THAN MONEY ARE THE CURRENCY FOR SUCCESS

Not only have the experts severely gotten it wrong (whether it is housing, credit or autos) but they have no new ideas as to what to do to get it right. This is extremely disturbing. We have seen the bailout plan created, increased, and broadened but no new ideas although everyone clearly knows that new ideas (like more oversight) are needed, new business models are needed, and new managements are needed. But we keep replacing thinking with checks. Ideas more than money are the currency for success. Ideas more than bailouts are what is needed for true success.

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The U.S. economy is being tested right now, and it should be. I heard a figure this weekend that 20% of retail sales are autos, maybe that should change. I said during the housing crisis that houses aren’t t-shirts and nor are autos. These industries can’t sustain this type of churn. Do we really need three-person households with 5 cars? And this is all before we address the multiplying factor of our energy conundrum.

Where are the innovative ideas that once propelled these great figments of the U.S. economy?

Where are the innovative ideas that once propelled these great figments of the U.S. economy? Wait, lay people off, that’s it, that way we don’t have to actually fix broken business models. Organizations should receive bailout money if they intend to use such capital to develop forward thinking growth solutions such as further hybrid vehicles, reasonable credit, or ways to leverage alternative energy, not just to buoy a broken business. The same way new capital is always raised. The way things are being done now, the best thinking is not being rewarded, which will leave us with a mediocre economy. I am looking at Audi report record U.S. car sales and just blinking hard at the TV.

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If the same people have no new ideas, than we need new people. Need I repeat the coming of the new vanguard?