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The Business Times Contributors THE BUSINESS TIMES JulyJANUARY 15-28, 2021 15-28, 2015 Opinion Opinion Business BriefsA new year affords Business Peoplea new opportunity to meet local needs Almanac

A new year almost always brings an opportunity for a fresh start and renewed ambition to do things better.

In business, that usually boils down to providing customers better products and services faster and at lower cost than competitors. Part of the process must include listening to customers to determine what they actually need and then meeting that need. After all, it does little good to offer the latest and greatest if nobody actually wants what you’re selling.

Just like the businesses that belong to the group, the Grand Junction Area Chamber of Commerce invariably starts out the new year with a reassessment of the services and resources it provides and how well they match with members needs. Jeff Franklin, the new chairman of the chamber board of directors, personifies this approach in describing what he considers his role for the coming year: listen to members, determine their needs and then meet those needs. It’s a role with which Franklin is familiar as market president of Bank of Colorado.

The process will take on a more structured approach in what the chamber plans as the resumption of a program aptly called Listening to Business. Under the program, business owners participate in in-depth interviews to identify barriers to growth and other problems they encounter.

The new year offers a good time to join the proverbial club.

As an advertiser or reader, what do you need from the Business Times?

While business journals traditionally gather and report the relevant news to readers, communication isn’t necessarily a one-way street. That’s especially true as Web sites and e-mail make the dialogue more convenient than ever.

Good publications don’t exist in a vacuum. They respond to the needs of advertisers and readers. They provide what’s needed.

So what do you need?

Is there additional news coverage that would help keep you informed about local business developments? Are there features that would be interesting or useful? Is there advice that would make your jobs a little easier?

It’s equally important to ask what you don’t need. With limited time to produce content and limited space in which to publish it, would time and space be better devoted to something else?

What’s good? What isn’t? What’s needed? What isn’t?

Let us know. Send us an e-mail. Comment online on the Business Times Web site at www.thebusinesstimes.com. You could even write an old-fashioned letter to the editor if you’d like. Your feedback, both positive and negative, is valued and will be carefully considered.

Good publications are the result of not only the efforts of their staffs, but also collaborative efforts involving advertisers and readers.

Like any other good business, we want to listen to our customers, find out what they need and then meet those needs.

It’s a new year. Please help us to do so. ✦ THE BUSINESSTIMES 609 North Ave., Suite 2, Grand Junction, CO 81501

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Publisher/Owner: Craig R. Hall Editor: Phil Castle Reach advertising at: publisher@thebusinesstimes.com Reach the editor at: phil@thebusinesstimes.com.

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The Grand Valley Business Times, a subsidiary of Hall Media Group LLC, is published twice monthly and distributed throughout Grand Junction, Fruita and Palisade. Advertising rates and deadlines are available upon request. Opinions expressed in this publication are those of the writers and do not necessarily reflect the views of the publisher, editor, staff or advertisers.

Copyright © 2015 — All rights reserved.

It’s that time of year when resolutions and prognostications abound. My favorite saying applied to New Year’s resolutions is in saying they’re basically a bunch of promises to break the first week of January. And while I won’t predict a whole lot, I can pretty much accurately nail a few things that without question will make the news. You will see these are pretty, well, predictable: ■ Prediction one: There will be some sort of weather event, natural disaster or heinous occurrence where someone will be interviewed and say the following: “I’ve never seen anything like that in my lifetime.” It’s as if this person is a required attendee at every news reporting event. While I understand most people’s perspective can indeed be limited by, or contained within, their own personal experiences, it is too much to ask to consult some historical perspective before saying such a thing? Yes, this response can apply to some events. But when it comes to weather and natural disasters, I’m pretty sure this is simply history repeating itself. Same as it has for millions and millions of years. More important, the planet made it! What didn’t were certain species. How’s that for perspective? ■ Prediction two: When it comes to a crime or something that occurs between humans, the other required attendee at all news reporting events is the person who says this: “They we’re just the nicest people, and in no way did I see something like this coming.” Exactly. No one does most of the time when it comes to neighbors and acquaintances. People should be surprised at what goes on from time to time in their neighborhoods, towns and with people they know because people are good. And for the times that they shouldn’t be shocked — like with politicians, repeat offenders and terrorists — where’s the interview that says, “This doesn’t surprise me in the least.” ■ Prediction three: Something good will happen economically, and the government will take credit for it. The most recent example is gas prices, where people ask me why I won’t credit the president for low gas prices. My answer is simple: Government never makes the price of something go down and simply takes credit for good news. Gas pricing is subject to many global factors. Now there are government answers to addressing some of them to keep prices stable for Americans, but our government has none of them in place. The only things it has in place in the

Bold predictions for 2015 more like not-so-bold repeats long run always hurt consumers. Another fact is that unemployment reaches a certain level based on the economy. And while the government might brag the number is low, it’s more than likely the government did something to cause that number being low — and not in a good way. Conversely, when business picks up, it’s because the people who need to buy widgets who were not buying widgets because the economy was contracting due to natural (or unnatural, government caused) reasons, decided we better buy some widgets. The government had nothing to do with this. ■ Prediction four: In keeping with things the government does, I predict the government will manipulate the numbers to make the claim the economy is getting better because of how hard it is working to help all of us “working Americans.” Now Craig Hall you might say, “Craig, you always say this about President Obama because you don’t like him.” You’re right in a sense. I don’t know the man, but what I know of him and his thinking, I don’t like it or him one iota. Before you go off, however, I didn’t like President Bush and his bailouts, stimulus and his abandoning the free market to save the free market. And I don’t know him either. What the government does, and the only thing it can do, is hurt the economy. Unless it does nothing or put criminals in jail instead of partnering with them, nothing the government does will help. Always look at it this way, whatever the government says it is doing, whatever the name of the law it is passing, or whatever the name or goal of the bureaucracy it is presenting to the people, expect the polar opposite to occur. I guess what I’m saying is that perhaps it’s time to get out of our own perspective. There’s plenty of history books and historical research out there to begin to understand that all of this has happened before. And it will again, whether the topic is people or government. The best recommendation is to find some books or try that whole Google thing. There’s a lot of information on the Great Depression. The truth is it wasn’t even a good one until the government got involved. There’s also plenty of research on the medieval warm period when the planet was much warmer than today with a whole lot less people (and warmer well before man was here at all). And yep, people have been killing other surprised people since history was first written. Maybe some research will help stop all of these trends. Otherwise, we’ll be saying we’ve never seen anything like it in our lives. And not in a good way. Craig Hall is owner and publisher of the Business Times. Reach him at 424-5133 Copyright © 2021 — All rights reserved. or publisher@thebusinesstimes.com. F ✦

Is it just me, or have members of the mainstream media — read Democratic party spokespeople — become mouthpieces spouting talking points word for word as they’re told?

I know we all know MSM leans well to the left, but it’s become the Mortimer Snerd to the Charlie McCarthy Democrats. I didn’t say Edgar Bergen, because were not sure just who’s pulling the strings of these dummies.

Let’s start in the tropical paradise turned gulag about 1960 we all know as Cuba. On the same day thousands, if not hundreds of thousands, marched in the streets across the island shouting their desire for freedom, let’s have a looksie at ol’ Mort and Chaz.

The Biden brain-deads declared it was a rally for lack of vaccines and the U.S. needed to send help ASAP, (Wait, I thought Cuba had the greatest social medicine program on the planet) according to Miss Circleback. The podium princess went on to state Cubans were exercising their right to protest the government. These claims were dutifully reported and then some. To double down on the lie of the day, the Basement Regime used a high-ranking official known as the State Department’s acting assistant secretary for the Bureau of Western Hemisphere Affairs (the what?) who stated, “Cubans are exercising their right to peaceful assembly to express concern about rising COVID cases/deaths and medicine shortages.”

Tripling down later was President Hairy Legs, but with a stunning admission. The protest was against the Communist regime the people of Cuba have suffered under since leftist t-shirt hero Che and Premier Trudeau’s (not the new one, the old one) wife’s baby daddy took over and started their murderous regime. Oh, Cubans also have no right to protest.

Yet all of this misinformation (hello, fact-checkers?) could have been avoided if a few simple questions would have been asked regarding what all of us were seeing with our own eyes. How about, “Why are they waving American flags and yelling for freedom?” Or perhaps to the New York Times, “Why are you calling shouts for freedom ‘anti-government slogans’?” Or, “Don’t the banners reading ‘anti-communist’ tell you this might be about something else?” Or perhaps Google reports from myriad sources from all over South Florida from newspeople with direct connections to Cuba? Oh, Cubans also have no right to protest.

I’m going with just lazy. Plus, those pesky questions take away access to the puppeteer.

Nationally, we have the “on the lam legislators” from Texas sneaking out to prevent election security laws being voted on in what

Please sir, may I have some might describe as a filibuster without The lost art of the followup question more news releases? the fililbustering. Only to fly to Washington, D.C. to be heralded by Democrats and joining them in seeking to end the filibuster

It’s time to revisit a favorite subject of mine: news releases. so Democrats could shove through bad

More specifically, it’s time to beg again for local news releases and the election law. Mortimer was on the bandwagon opportunity they afford to share more information with readers. I swear, there are championing these brave souls. occasions when I feel like less like a newspaper editor and more like the orphan Oliver Not that it would have mattered. But Twist in the eponymous book by Charles Dicken. Please sir, I want some more. did anyone in the press even ask what the Not the hundreds of news releases that fill my email Texas election laws state that’s such a threat inbox every day from sources across the nation and frequently to voting? I know they’d get the stock answer around the world. Rather, I’m talking about news releases of, “Well, these laws are racist and prevent from businesses right here in the Grand Valley and Western people from voting.” Yet, more people voted Colorado. in the last election by millions and new Frequent readers will no doubt recall my past pleas. It’s a laws ask simply to prove you’re you in a sore subject. What brings this topic back to the forefront was a news release I received about a California company that Craig Hall way we can verify. That brings me to my next question. “Why is anyone against that distributes news releases. Somewhat ironic, isn’t it? since election integrity would allow for no The company provides an online platform for entrepreneurs challenges as to who won?” And the easiest Phil Castle and businesses to write and send releases for what are termed affordable rates. The company also provides information to question: “Where in the hell were your masks on your private flight to Washington?” businesses about who opens their news releases. I’m going with there were no questions

Let me make something clear: I have nothing against companies that make because they don’t want to report the answers. it their business to distribute news releases. I consider myself blesssed, in fact, to Let’s take voter ID one step further work with marketing firms that send me news releases. It’s a privilege to work with with President Basement and his under the professionals who realize the value of sharing news about their clients with the local portico, arms-crossed, waiting-in-the-wings business journal. If anything, I encourage them to send me more news releases. successor. According to our president,

Now, let me get to the point: The Business Times welcomes news releases minorities don’t know how to get on the about local businesses and business people. That includes news releases about Internet to get an ID. According to President changes in products or services, expansions, new hires and promotions. There’s of Vice Harris, there are no copy shops in never a charge to include this information in the print or online editions. Never. the heartland to copy one’s ID (Oh, so they

Many of the local news releases I receive appear in sections titled — do have them because you know, you need appropriately enough — Business Briefs and Business People. But some of those one for literally everything) to prove you’re news releases also lead to longer news stories and some of those become features you along with your ballot. promoted with cover photographs. Yet not one question like, “You need an

There’s a reason I want more news releases, and it’s a simple one: I want to ID for everything in life, including attending share more news. The more the merrier. I’d be delighted if I had to expand the a bad teleprompter butchering by the Ice Business Briefs and Business People sections to accomodate more news. Cream Man, so people have them, no?” I’d welcome the problem of finding sufficient space in the paper to shoehorn in Or how about, “Just about everyone in the one more good story. country has a computer, printer or cell phone

In a perfect universe, I’d enjoy unlimited resources to report news, to talk that can scan or create an image of their ID, with more business owners about their operations. Unfortunately, that’s an one doesn’t need access to Office Max now, economic impossibility for even the largest publications. Alternatively, I have to do they?” Or the easiest: “Why do you find rely on businesses to contact me to share their news — and that most often takes minorities and everyday people so incapable the form of the news release. of the simplest tasks in life?”

It’s simple. Cover the basics — the who, what, when, where and why — and Instead, intrepid, insulated mouthpieces send me an email. Submit a news release through the Business Times website. nod with understanding. We understand why.

Please sir, I want some more. Closer to home, U.S. Rep Lauren Boebert was attacked for taking PPP loans Phil Castle is editor of the Business Times. Reach him at phil@thebusinesstimes. while stating in a speech all Americans com or 424-5133. want is opportunity, not D.C. handouts. F This one was too good to pass up for the left. Before the truth got out of bed it was around the world like Superman reversing time to save Lois from the abyss. Tweets and retweets abounded with the lie. The truth abyss could have been avoided if someone (the tweeters or their retweeters in the press) would have asked, “You sure you got the right Shooter’s Grill?” But where’s the fun in that, let alone the effort? Sophomoric column? You bet. But it matches the behaviors of those I’ve mentioned. A sophomore at a high school rag would know better. So do we. Craig Hall is owner and publisher of the Business Times. Reach him at 424-5133 or publisher@thebusinesstimes.com.

Real pain of inflation felt in the pocketbook

“If you want to get someone’s attention, hit them in their pocketbook.”

This saying has been around a long time, but the truth becomes blatantly obvious as gas prices rise between fillups, groceries cost more each time they’re purchased and utilities and housing costs skyrocket. Inflation receives the bulk of the blame, but exactly what does that mean? As it pertains to economics, inflation is defined as a general increase in prices accompanied by a decrease in the purchasing power of money. The rate of inflation is commonly measured by the Consumer Price Index. This rate is computed by taking a weighted average of price increases in the products a typical consumer purchases. The products are weighted because consumers buy some items in larger quantities, affecting them more than items

Phyllis Hunsinger bought in smaller quantities. The CPI also takes into consideration the price of a product. A 10 percent increase in the price of a car exerts a much bigger effect than a 10 percent increase in the cost of a candy bar.

The U.S. Bureau of Labor Statistics includes the following categories in its representative consumer products: housing (41 percent), transportation (17 percent), food and beverages (16 percent), medical care (6 percent), recreation (6 percent), apparel (4 percent) and other (4 percent).

The principle of supply and demand applies to inflation. If the money supply increases by a larger percentage than production, prices rise.

Inflation exerts a negative effect on all consumers. The effects on lower income earners are magnified, however, Since these earners pay a larger proportion of their incomes for daily living expenses, health care and education, inflation makes it even more difficult for these earners to afford necessities.

Savings suffer because money saved for future use will have less value. Investments aren’t as attractive when inflation rises because any profit anticipated must factor in the added cost of inflation. A decrease in investing harms the wealth of the nation. Inflation harms the economy.

The government is culpable. The government spends money it doesn’t have. The government has no way to acquire money unless it confiscates it from citizens through taxation or prints money. The government has been printing a lot of money lately and promises to raise taxes as well.

Inflation is a boon to the government because the government has borrowed huge numbers of dollars it will pay back with devalued dollars. Inflation also raises nominal wages and pushes people into higher tax brackets, resulting in more tax dollars for the government. The main beneficiary of inflation is the government.

Despite inflation being useful to governments, history is replete with examples of excessive inflation in which currency becomes worthless. Economies tend to break down whenever this happens.

The Federal Reserve seeks to control inflation by influencing interest rates. When inflation is high, the Federal Reserve raises interest rates to slow the economy and bring down the rate of inflation. If inflation is low, the Federal Reserve lowers interest rates to stimulate the economy and raise the inflation rate. The work of the Federal Reserve is not an exact science.

As the government continues to spend money it doesn’t have, the value of the money consumers spend will continue to decrease in value through inflation. The pain has just begun.

Phyllis Hunsinger is founder of the Freedom & Responsibility Education Enterprise Foundation in Grand Junction. The FREE foundation provides resources to students and teachers in Western Colorado to promote the understanding of economics, financial literacy and free enterprise. For more information, visit www.free-dom.us.com. A former teacher, principal and superintendent, Hunsinger wrote “Down and Dirty: A ‘How To’ Math Book” Contact her by email at phyllis@free-dom.us.com. F

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The Business Times welcomes letters to the editor and guest columns on issues affecting businesses in Western Colorado. Submissions should be emailed to phil@thebusinesstimes.com and include names and telephone numbers for verification.

Biden administration policies threaten to restrain recovery

Americans are a resilient bunch — including entrepreneurs and their employees and investors.

According to the latest numbers reported by the U.S. Bureau of Economic Analysis, gross domestic product growth accelerated in the first quarter as the climb out of the deep economic hole dug during the COVID-19 pandemic continues. Raymond

Yet, President Keating Joe Biden serves up a series of policy measures that will only serve to restrain the recovery.

GDP, the broad measure of goods and services produced in the country, grew at a seasonally adjusted annual rate of 6.4 percent in the first quarter. That was faster than the 4.3 percent growth rate in the fourth quarter of 2020.

Even after a 33.4 percent jump in the third quarter of 2020, the massive declines in the first two quarters mean GDP remains below pre-pandemic levels.

For the first quarter of 2021, personal consumption expenditures rose 10.7 percent as a result of business reopenings and government aid. Looking ahead, it’s critical consumer spending is rooted in expanding business investment and jobs, not assorted government aid programs. Government aid amounts to redistributing resources — with real costs now and in the future — and not wealth creation.

While gross private domestic investment declined 5 percent in the first quarter, that largely was about a transient drop in retail inventories. Nonresidential investments increased 16.7 percent for equipment and 10.1 percent for intellectual property products. Residential investment grew 10.8 percent, a reflection of the hot housing market.

Unfortunately, the recovery in trade stalled. Real exports declined 1.1 percent in the first quarter. Growth in imports continued for the third consecutive quarter, but at a slower pace than the previous two quarters.

It’s important to note where key areas of GDP stand compared to the pre-pandemic fourth quarter of 2019. As of the first quarter 2021, real business investment, residential investment, exports and imports rebounded to higher levels than the fourth quarter of 2019. In terms of the private sector, only personal consumption expenditures in the first quarter 2021 were below the fourth quarter 2019 level.

If strong growth continues, overall GDP could fully recover by mid-2021 with the economy then shifting to an expansion mode. Of course, that would still leave a considerable amount of lost growth in the economy to make up for, and much work would remain in terms of job creation, which is a lagging measure.

The need to foster the best possible environment in which the entrepreneurship and private investment that drive economic, income and employment growth can flourish should be apparent to all. Unfortunately, President Biden’s policy push would restrain or even derail recovery. Growth would be undermined by plans to: n Increase personal income taxes on upper-income earners. n Increase capital gains taxes. n Increase corporate income taxes. n Expand the regulatory burdens of the federal government. n Vastly expand federal spending in a variety of arenas — trillions of dollars in new spending on top of trillions of dollars already being spent. n Engage the federal government in industrial policy.

President Biden is trying to ride the wave of vaccines working to stop this pandemic and the economy reopening to impose a breathtaking expansion of government seemingly in all corners of life. But Biden can’t repeal the laws of economics.

A vast expansion of government means draining resources away from more productive enterprises and endeavors in the private sector. Whether financed by more debt or taxes, more government spending crowds out the private sector. Higher taxes reduce incentives and resources for starting up, expanding and investing in businesses. That, in turns, means further restraint on innovation, productivity, income and job growth. For good measure, elected officials and their appointees don’t possess the knowledge or incentives to guide or direct investment and industries.

The Biden administration also is absent in unwinding the protectionism of the Trump years and returning the U.S. to a leadership role in advancing free trade.

As almost any small business owner will tell you, the regulatory costs of government are just as real and burdensome as taxes. Gearing up the federal regulatory machine means inflicting serious harm on businesses of all types and sizes.

The tax, spending and regulatory policies emerging from the Biden administration are anti-growth. Let’s hope Congress possesses the wisdom to say “no” to such misguided measures and instead focuses on reducing government burdens on the true sources of growth — entrepreneurship and investment.

Raymond Keating is chief economist for the Small Business & Entrepreneurship Council. The nonpartisan, nonprofit advocacy, education and research organization works to protect small business and promote entrepreneurship. For additional information, log on to the website at www.sbecouncil.org. F