It seems to me that the pandemic identified as the COVID19 or Coronavirus has an upside along with many downsides. I’m sure most of us have heard the expression from people involved in financing and investing, “Don’t put all your eggs in one basket.” Diversification is the optimum word here. So how does this play into our current worldwide situation?
About 80% of the drugs used in the US are manufactured in and imported from China which is too much reliance on one supplier. Years ago I knew a man who owned a successful print shop downtown. Then he received a great contract from a mortgage broker to print flyers the broker mailed out weekly. The amount became many thousands each week. What the print shop owner did then was purchase another printing machine, placed it in his garage at home and hired someone whose sole task was to print the thousands of flyers under contract.
I asked him why he did this and being the good businessman that he was he explained that the new customer was requiring too much of his time to do the printing. He explained to me that he was in jeopardy of losing his bread and butter business which was numerous small accounts. If the mortgage company closed or sought another print shop he would be at a huge financial loss. Well, the mortgage company did in fact go bust as a result of illegal activities and all the print shop lost was one account albeit a big one. His small shop downtown continued functioning as it had in the past. Smart move on his part.
Now, back to China. If they decide to stop shipping product or some other event interrupts the trade we, the US, would be in a big hurt until such time as we could re-tool and get back into producing what we used to before giving China these massive contracts. So the upside to this virus issue is that we now are thinking about bringing manufacturing back to the US. You see, there is always a ray of sunshine behind those clouds if you look for it. Diversify.
Last week I was in Von’s and couldn’t believe what I saw. I now know what the most important food items are for people. Canned beans, canned vegetables and soup, rice, pasta, tuna and the infamous TP, paper towels and the number one favorite cereal …Cheerios. All these items virtually all gone from the shelves as well as half the fresh meat case. And what’s up with bottled water? When I turn on my facets water comes out so there is no water shortage.
In addition to the bad news we have all heard let me add a few more affecting TV. No football, except for XFL who cares, no baseball and the worst of all no March Madness. Two of my favorite TV shows “Forensic Files” is showing repeats and Lt. Joe Kenda, Homicide Hunter retired from retirement. I don’t want to watch the 2011 ACC championship or the other ESPN re-runs. One bright spot is that “Last Man Standing” with Tim Allen is back on and there are some decent movies.
Like “Moonstruck,” which was on the other day. Great movie. Cher was worthy of her Academy Award as was Olivia Dukakis who played Rose Castorini. Of course, perhaps the most memorable line was from Cher when she said “Snap out of it!” It’s one of those memorable sayings from movies that is repeated often like, “There’s no crying in baseball” or ‘I’ll make him an offer he can’t refuse.” Or one expression that should be banned from golf, “in the hole.” During a TV broadcast, the yahoo who yells that on a par 4 tee should be carted off the course. Yes, I have heard it.
Sad for two of the best basketball teams in the country #6 SDSU in DI and USD #5 in DII who will not get to play in an NCAA tournament this year. Kudos for great memorable seasons.
Recent license plate SUPRBKR. Could be baker, broker or banker.