Buckeye politicos put tarnish on the Rust Belt
.floatimg-left-hort { float:left; } .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 12px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 12px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 12px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;}
Dear Mr. Berko:
Recently, I discovered that my business could save a huge amount of money by relocating to Texas. I’m reluctant to move, because some of my people have been with us for 20 years and most of us are like family. Several members of our legislature tell me that if I work with them, there are ways to lower my taxes between 25 percent and 45 percent. What do you think? I would also like your opinion on Pfizer. I own 500 shares I bought at $22 in March 2008. Would you recommend that I add 500 more shares, hold my position or sell? Please do not use my name as many people here know my family.
X.X., Columbus, Ohio
Dear X.X.:
Unfortunately, my home state of Ohio has some the most unfit, corruptible, pandering and opportunistic legislators in the country – worse than Florida, and maybe as bad as Illinois, California and New York. I would guess that none of the 33 members of the Ohio Senate nor the 99 members of the Ohio House of Representatives has an IQ much above normal room temperature.
These pixilated sapheads ought to read a series of reports written by Richard Vedder of Ohio University. It clearly posits that between 1998 and 2008, more than 1,100 people per day moved to states like Florida, Texas, New Hampshire and Nevada, which have no state income taxes.
Most impressively, Vedder’s study discovered that zero-income-tax states generated an 89 percent increase in jobs, and their income growth was 32 percent greater than that of their high-tax brethren.
It’s worth noting that Texas had the audacity to cut its taxes in 2008. Well, did you know that the Lone Star State, according to my source at the San Antonio Business Journal, created more new jobs than all the remaining 49 states combined?
The solution is simple as Simon. If we could eliminate the putrid stink of lobbyists and villainous political profit, all that’s necessary is to reduce total spending in Ohio government by 20 percent and wages by 5 percent with zero exceptions.
I think Pfizer Inc. (PFE-$14.73) could be among the best-performing long-term stocks on the New York Stock Exchange. I suggest you get a copy of the recent Credit Suisse research report, which might impress you with its reasons and conclusions. Pfizer recently acquired Wyeth Laboratories and now has an unrivaled cornucopia of prescriptives, unguents, salves, pills, drops, elixirs, embrocations and other medicaments for human as well as animal health. Its acquisition of Wyeth brings 17 drugs, each with more than $1 billion in annual revenues to PFE.
Wyeth will add $22 billion of revenues to PFE’s $49 billion, and the efficiencies resulting from this merger could easily save the new company about $4 billion a year through consolidation of research, advertising, administrative functions and manufacturing.
Meanwhile, Wyeth and Pfizer have several potential blockbuster products awaiting Food and Drug Administration approval. And PFE just inked several deals to greatly expand its generic drug presence in India and to increase revenues worldwide, from 75 of its off-patent drugs.
So, I’m confident that a new 500-share purchase will be a good choice. I believe PFE could trade at $24 in the coming two years, and the dividend could be raised nicely.
Please address your financial questions to Malcolm Berko, P.O. Box 1416, Boca Raton, Fla. 33429 or e-mail him at malber@adelphia.net. © Copley News Service
Trending News
