I have tried "challenges" before without much success, but I am not discouraged. Last time it was "New Math". Remember that one? I heard an interesting comment today from an investor and it went like this. He said that he recommended investing in US companies who were the "Best" in their individual industries. He meant on a world wide basis. The example that he used was the Cummins Engine company. I agree that they are the best diesel engine builder in the USA. Cat and Deere do a good job in their total products, but when it come to the diesel engines, Cummins clearly has a better line of engines. World wide, Germany and Japan make very good diesel engines, but they are no better than those built by Cummins. As it turns out, Cummins exports a lot of diesel engines and that is what the US economy needs. You don't see GMC or Chrysler doing any big exporting. The reason is that they are clearly not the "Best". If you just looked at their products on the basis of cost, they would be even worse. Thank your friendly union extortionist for this distinction.
Now to the challenge. You tell me what companies here in the USA are the "Best" in the world in anything. In prior Blogs, I have listed many areas where the USA is clearly not the "Best". You have all heard that coming in second place is not much to be proud of, it is like kissing your sister. If you don't feel bad about not coming in first, then you don't deserve to win. You know the routine in our schools these days where everyone is a winner and no one loses. If that is not the recipe for failure, I don't know what is. As Lombardi used to say, "Winning is every thing, it is the only thing". George Steinbrenner just died this week and he said the same think. As you hear people talk about working with him, they all had respect for him and the commitment he had to winning. He and his team were the "Best".
Now you tell me what companies, products or areas where the USA is the "Best". We need to invest more in these areas where we are the "Best" rather than pouring money into areas where we are now losers or into people who are losers. Sorry, but this is life. Post your list and I will share them on the Blog.
