Find Wisdom In Your Life Affairs
One of the companies that I'm moderately heavily invested in-and of course we teach
financial literacy, so we're not way overboard-is called Plum Creek Timber. As I prepare this article, I'm looking at their current annual report for 2009.
For those of you who are living in this historic time, you know that it's a real economic...well, the politically-correct word is recession. The word which nobody will even whisper, especially if they're connected with the government and big business, the two parties that caused it all, is depression.
Me, I lump it in with the big 3D's that are so upsetting in life-death, divorce and depression. Be that as it may, I've got to tell you, one of the reasons that we're in such horrible shape, and you know this well, is that the giants-the Enrons, the AIGs, the Citicorps, the Big Three automakers-violated their duty!
The government, although they're in charge of straightening things out and punishing a few examples, by making the rules that gave them such abilities, doesn't have clean hands, either.
They raped and pillaged, savagely, not just the American public, but the entire world. They were selfish, egotistical, and-you know this to be true-they mismanaged everything!
Well, there's not much I can do. I mean, I did buy a Ford in 1994, and it's easy to get parts. I wouldn't have invested in GM....are you screaming crazy? They're not even doing what's wise for the country, the company, or the world.
No, but there are companies, like Plum Creek Timber, with strong balance sheets. They're not going and asking for billions. They're not whimpering, whining, and crying, "We can't do it," the way some states and big companies are.
No, they're saying, "Plumb Creek has $369 million in cash, and $506 million available under its line of credit, producing nearly $900 million in liquidity. We have no need to access debt markets for the next two years, and hold an investment-grade credit rating."
What they're saying, folks, is that they've been managing their company properly. Hey, sales dropped 20%, and it ruins companies and they can't pay their employees! And they're cutting thousands of jobs. That's not a good way to run a company.
Listen to this company-"Our diverse timber and land portfolio provides the flexibility to protect and grow the value of our asset base, deferring harvests in weak markets and allowing the trees to grow."
Deferring harvests in weak markets and allowing the trees to grow-in other words, delayed gratification, what the market isn't really rewarding today. They're not depending on today, today, today and only today or it's gonna get crushing!
Nope, they deal in stuff that has a very long lifespan: trees, lumber, land. They have the outlook that comes with that. They have the outlook of wisdom.
Find wisdom in your life affairs. That's what this crisis is teaching you.
by: Ted Ciuba
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