Why Don't You Buy a Jet Fighter?

A recent story from thenextweb.com:

There once was a scrap yard owner who had financial troubles. He had a tough time competing with other scrap yard owners and just didn’t know how to differentiate from them.

Then one day he got offered an old russian jet fighter. The plane was stripped of its electronics and guns and in bad shape. It didn’t have any materials he could use so it was basically worthless.
He used his last money and bought the plane. Instead of taking it apart he just put it on his front lawn so everybody could see it.

His neighbors complained, his wife nearly left him and his competitors joked he was crazy and soon going out of business. Of course, the opposite happened. The fighter jet became a landmark in the area and people started referring to it to give directions (“just go left at the fighter jet and then straight ahead for 5 kilometers”). Pretty soon business started growing as his scrap yard became famous within the area.

Why look in the phone book for the nearest scrap yard? Just drive to the one with the fighter jet in the front lawn. Can’t find it? Ask anyone for the fighter jet scrap yard.

Some business are easy to differentiate. Usually quality matters more than appearance and brand recognition.
But sometimes you need a jet fighter.

http://thenextweb.com/entrepreneur/2011/08/25/why-dont-you-buy-a-jet-fighter/

50 Ways to Leave Your Law Firm

The authors of this article from The Economist. (http://www.economist.com/node/21525907?fsrc=scn/fb/wl/ar/bargainbriefs) describe how some law firms in the United States and Great Britain are becoming more client-centric and offering greater value. If successful, this trend may migrate to other professional services firms.

It seems to be a confluence of modern technologies and the loosening of out-of-date policies that protect  professions from competition. Of course, there are risks from bad lawyers jumping into the marketing mode and exposing their clients to shoddy performance. For a reference point just look back to the time when law firms were allowed to advertise -- we are now flooded with ambulance chasers on every billboard, bus bench and late-night television ad. It feels sleazy. It makes better professionals uncomfortable. And it probably clogs our courts. Is Lionel Hutz listening from the grave?

But this doesn't take away from the classic arguments for free-market competition. Business efficiencies are usually rewarded. And if those improvements come from better technology and less regulation, then there will be a widespread benefit. 

S&P Downgrades America's Debt ... But not for Obvious Reasons

Please see an excellent opinion piece in The Economist:
http://www.economist.com/blogs/freeexchange/2011/08/sps-credit-rating-cut?fsrc=scn/fb/wl/ar/downgradingpolitics

The main point of the article is that the downgrade was not entirely due to the creditworthiness of the United States. Instead, it had much to do with the willingness of America to pay its debt. The folks at S&P were put off by the fact that a default would even be considered by our so-called leaders.

I hope this kind of opinion grows. It might help us get rid of loud-mouth political extremists (from both sides of the aisle) and move our Congress into the roles of true leaders. This, after all, is what we should be electing them for and should be the work they aspire to do.