Talking about conversion to VJ? These are the same managers that got into this mess in the first place, do you think that they are smart enough to make decisions on the future of their companies. VJ moves are nothing more than life preservers to stay afloat and hoping that rescue will come form somewhere. What's next? Citizen News, trying to get material for free, probably in exchange for meals and credits. Craiglist here comes the newspaper's CJ wanted ads, Rosenblum already paved the way.
Thank you for that.
Just because a person wears a suit, and flies in a corporate jet doesn't actually mean that they have a brain in their head about running a company.
I could get an MBA in two years, would I be qualified to run Tribune?
Hell no.
I had people tell me for years, literal years, that I needed to get into the 'house flipping' business, and I kept telling them that 'my grandfather taught me everything I needed to know from the Great Depression.' I'd ask them all the same thing:
'So what happens when the overvalued market adjusts back (and it will, violently) and you have three houses under your name, worth literally half a million dollars, and they're worth half as much?'
The only answer is, 'that's not going to happen.'
Well, welcome to the whole world, people. IT HAPPENED.
It happened to everyone that bought overvalued, and thought that selling properties was the way to make money, instead of building value, and giving earnings and dividends.
I've been telling people about this thing coming for three freakin' years.
That the suits and idiots were killing us.
All I got was flack from people, and denial about the industry.
I kept saying this, over and over:
"Get your skills up. Buy some of your own equipment. Get a 'B' plan together, because the people calling the shots are running everything on spec."
....and running on spec was what caused the last THREE market crashes.
Short of Nino, and anyone under the age of fifty, I question everyone else's opinion around here about the future.
Guys, the future has been written in the past. You only need to look back, to see forward.
Now get a plan together.