Just for fun, let's see how much money $3.7 billon really is.
Well, it's $72,549,020 for a week of work, assuming you took a week off to celebrate the holidays.
Assuming you work harder than the average hedge fund manager (for fun, let's say 73 hours/week, on average), it's $993,822 AN HOUR!
And that's 33 times the amount of money I'll make in one year where I work.
Who am I? I'm John Paulson, and I made more money than you last year. I guess the real question becomes, what do you spend it on?
Wednesday, April 16, 2008
Monday, April 14, 2008
Growing Confliction
"When the executives at Wal-Mart Stores Inc. realized there was green to be made from green initiatives, their efforts took off: The company expects to reduce solid waste 25% in three years at almost 4,000 U.S. stores." - WSJ.com
I'm a capitalist with a conscience, and maybe a bit of a soft spot for the underdog, regardless of what my NCAA tourney bracket looked like this year. I cheer for the Red Sox because they don't have as high a pay roll as the Yankees, even though I acknowledge the Sox' pay roll is still the second highest in the majors. And I don't like Wal-mart. I don't shop there. But I don't blame people who do. In fact, I feel fortunate to be able to afford to shop elsewhere, even if that is the local King Soopers grocery store, which is of course only one chain under the enormous Kroger brand.
But with King Soopers, I'm able to buy products that are locally grown, such as Rocky Mountain Pastures organic milk and Mountain High Natural Yogurt. My local grocery store - although not really local - provides me with local products, which means that while I am paying a premium price for these goods, I know that they're only being shipped from other parts of my state, instead of other parts of the country, or in some cases other countries all together. It's the entirety of the the green idea - from field to supermarket shelf - and it encompasses all aspects of production, shipping, and consumption. While Kroger may not be making the effort to truly support more sustainable practices, I can with my spent dollar.
Wal-mart's sustainability webpage says: "We view environmental sustainability as one of the most important opportunities for both the future of our business, and the future of our world. [Note here that the "future of our business" comes before "the future of our world."]
In the end, I want to spend my money where I believe business and true concern for the environment cross. I guess I'm looking for the best of both worlds. Sure, King Soopers isn't the perfect answer - and neither is Whole Foods. But I think that by at least offering consumers the option to buy locally (even at a premium price), they're taking a step in the right direction.
Just because McDonald's now offers higher quality beef than it did 4 years ago doesn't mean I'm going to start buying their burgers. It's simple economics, and it's the same story for Wal-Mart. I eat at the Cherry Cricket, where the burger is more expensive, the managers aren't brought in from another state, and the the beef is from closer to home.*
I have a number of issues with Wal-Mart that I must admit are not exclusive to that company. However, they are again #1 on the Fortune 500 list, and they must set an example for those who follow. I support their green initiatives and welcome their reduction in consumption and pollution the same way I'd welcome equal changes from McDonald's. But that's not enough to get me to shop there.
*I haven't checked this fact. To be honest, I made it up. But I'd be more willing to bet their beef is local than that of McDonald's.
I'm a capitalist with a conscience, and maybe a bit of a soft spot for the underdog, regardless of what my NCAA tourney bracket looked like this year. I cheer for the Red Sox because they don't have as high a pay roll as the Yankees, even though I acknowledge the Sox' pay roll is still the second highest in the majors. And I don't like Wal-mart. I don't shop there. But I don't blame people who do. In fact, I feel fortunate to be able to afford to shop elsewhere, even if that is the local King Soopers grocery store, which is of course only one chain under the enormous Kroger brand.
But with King Soopers, I'm able to buy products that are locally grown, such as Rocky Mountain Pastures organic milk and Mountain High Natural Yogurt. My local grocery store - although not really local - provides me with local products, which means that while I am paying a premium price for these goods, I know that they're only being shipped from other parts of my state, instead of other parts of the country, or in some cases other countries all together. It's the entirety of the the green idea - from field to supermarket shelf - and it encompasses all aspects of production, shipping, and consumption. While Kroger may not be making the effort to truly support more sustainable practices, I can with my spent dollar.
Wal-mart's sustainability webpage says: "We view environmental sustainability as one of the most important opportunities for both the future of our business, and the future of our world. [Note here that the "future of our business" comes before "the future of our world."]
Our opportunity is to become a better company by looking at every facet of our business—from the products we offer to the energy we use—through the lens of sustainability."
This is all well and good, but I can't escape the reality of the quote I've used to open this post. Their green is all about their green.In the end, I want to spend my money where I believe business and true concern for the environment cross. I guess I'm looking for the best of both worlds. Sure, King Soopers isn't the perfect answer - and neither is Whole Foods. But I think that by at least offering consumers the option to buy locally (even at a premium price), they're taking a step in the right direction.
Just because McDonald's now offers higher quality beef than it did 4 years ago doesn't mean I'm going to start buying their burgers. It's simple economics, and it's the same story for Wal-Mart. I eat at the Cherry Cricket, where the burger is more expensive, the managers aren't brought in from another state, and the the beef is from closer to home.*
I have a number of issues with Wal-Mart that I must admit are not exclusive to that company. However, they are again #1 on the Fortune 500 list, and they must set an example for those who follow. I support their green initiatives and welcome their reduction in consumption and pollution the same way I'd welcome equal changes from McDonald's. But that's not enough to get me to shop there.
*I haven't checked this fact. To be honest, I made it up. But I'd be more willing to bet their beef is local than that of McDonald's.
Tuesday, April 08, 2008
Under- and Overestimation...
...and a new blog. First, I'm starting an additional blog. It'll chronicle my quest to run the San Francisco Marathon this summer, on 3 August. You can find it at www.runsanfran.wordpress.com. I'm giving Wordpress a try, just for kicks.
In case you're wondering, the fault caves in Clear Creek Canyon are a great way to spend an afternoon. I visited them with my friend John on Saturday, and despite having only one light (a big mistake), we had a helluvan adventure. The caves are deep and the passages between chambers - if you can call them that - are often narrow. At one point, for only a few seconds, I thought I might be stuck. The darkness was complete and seemed to weigh me down as I waited for John to pass the light. It was strange having my eyes open and sensing only absolute darkness.
There's no good way to describe the angle at which I'm crawling.
We learned it's good to wear long sleeves (the rocks can be sharp) and maybe gloves. A hat can be nice, but a light for each person is nearly essential. Bring a camera, the caves are better than expected.
It's nice to be back in the sun.
We spent the rest of the weekend catching up, snowboarding (I broke my snowboard and maybe the right side of my ass) and ended with the very over-hyped Coors Brewery Tour. I only realized half way through that I'd actually done it once before, back in 2002 (?). I have a bad memory, I'll admit, but I thought I would remember visiting the largest brewing facility in the world (their claim). My previous experience - redeemed only by our guide (who was a friend) - must not have been so great. This time, our guide was uninformed, unfunny, and generally unlikeable. But the free beer at the end wasn't too bad.
In case you're wondering, the fault caves in Clear Creek Canyon are a great way to spend an afternoon. I visited them with my friend John on Saturday, and despite having only one light (a big mistake), we had a helluvan adventure. The caves are deep and the passages between chambers - if you can call them that - are often narrow. At one point, for only a few seconds, I thought I might be stuck. The darkness was complete and seemed to weigh me down as I waited for John to pass the light. It was strange having my eyes open and sensing only absolute darkness.
There's no good way to describe the angle at which I'm crawling.
We learned it's good to wear long sleeves (the rocks can be sharp) and maybe gloves. A hat can be nice, but a light for each person is nearly essential. Bring a camera, the caves are better than expected.
It's nice to be back in the sun.
We spent the rest of the weekend catching up, snowboarding (I broke my snowboard and maybe the right side of my ass) and ended with the very over-hyped Coors Brewery Tour. I only realized half way through that I'd actually done it once before, back in 2002 (?). I have a bad memory, I'll admit, but I thought I would remember visiting the largest brewing facility in the world (their claim). My previous experience - redeemed only by our guide (who was a friend) - must not have been so great. This time, our guide was uninformed, unfunny, and generally unlikeable. But the free beer at the end wasn't too bad.
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