Opinion

The Business Times Contributors THE BUSINESS TIMES November 24-December 7, 2022JANUARY 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

TEL (970) 424-5133 • FAX (970) 424-5134

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

Subscribe or submit press releases online at www.thebusinesstimes.com

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 © 2022 — All rights reserved. or publisher@thebusinesstimes.com. F ✦

Let’s set this up for readers. And if I go outside my very large box, I have a reason. I’ve got this crud everyone is suffering through, so I’m just hoping the word count reaches 900 or so. See what I did there?

OK, on to the 2022 election “season.”

On one side, the Democrats. The ones with the single biggest rectal chapeau (I almost used the actual words this guy is so evil) in history in charge who’s basically a rubber-stamp-droid reading horribly off a teleprompter and signing whatever’s put in front of him. Gov. LaPetomane looks like Einstein next to this guy. His main henchman, Nancy Pelosi, is investigating, imprisoning and throwing the book at anyone who took the SS Minnow version of the three-hour Capitol tour all while continuing her never-ending witch hunt against a former president — and using a corrupt Justice Department across the country to do it. Democrats ran two (basically) dead men in Pennsylvania, one for state government and one for the U.S. Senate. To top is off, basically everything the Democrats have told you for the past six years is a lie.

OK, that should make it easy enough. As they say in infomercials, “But wait, there’s more.” The economy is in shambles. Inflation is setting records (a slow down month to month doesn’t mean it went away), the climate agenda got moved forward as they lied to you about the Inflation Reduction Act that was nothing BUT climate mandates, we’ve discovered the litany of what the leftists are doing to our schools and the LGBTQ agenda moves on with the barrel of government’s gun against all who think differently. I could go on, but I’m filling my word count nicely. So let’s see where the rubber should have met the road, yet Republicans simply spun out and ended in the ditch.

I know many of those who vote as I do clamor “term limits.” Obviously, they missed my last column telling them term limits will only get us worse people more often who go into lobbying and run D.C. from the Beltway instead of the Capitol. Barack Obama and Hillary Clinton ring a bell? Who’s agenda is this? It’s not the guy in charge, for sure. He doesn’t even know what the agenda is. His job is to hide and come out and say what they tell him in between ice cream. So, what is this magic formula, you ask? Simple. Remove the unconstitutional power from Washington, D.C. It’s something the Supreme Court finally got right on Roe and it only took 50 years. By the way, SCOTUS has gotten slavery, Jim Crow, segregation and myriad other things over the centuries as well. Sadly, there are only two fixes. A new case or elections.

Holidays offer reminder: Count those blessings More sad, Republicans absolutely suck at Why the Dems weren’t worried: Just look who they ran against one of them.

The best part about Thanksgiving and the holiday season — along with all Let use the most recent. As I said, the delicious food, of course — are the reminders this time of year provides about SCOTUS got Dobbs correct in its opinion what’s actually important. Family. Friends. Health. Freedom. And all the other that abortion falls under the purview of blessings we enjoy. It’s helpful in putting less essential stuff into perspective. states. State are the incubators for good Granted, it’s been another challenging year, hasn’t it? and bad laws. We’ve all hailed some and One with economic challenges, natural disasters, war, political loathed some which were passed. So bickering and what I fear is a growing gulf between the citizens yes, some abortion laws went into effect of a country in which far more should unite us than divide us. retroactively after Dobbs on one side There’s justification for the observation the world’s going to hell limiting abortion and others were passed and we’d all be well-advised to invest in handbaskets. hastily, making abortion legal after live Call me a Pollyanna, but I remain an optimistic believer birth. Neither of these are good thing. But in human innovation and resilience. More so, I remain since when do politicians pass laws for grateful. Things could be better, for sure. But also a lot worse. the people? Politicians pass laws for votes Phil Castle In the spirit of Thanksgiving and the upcoming holidays, afford me the opportunity to count some blessings. As usual, I’ve got a lot to count. Craig Hall for the base to win primaries. And on the Republicans’ side, here’s the biggest misunderstanding of voters. First and foremost, thank you to the readers of the The majority of voters in this country Business Times. You remain the reason I do what I do. Thanks also to the businesses are single-issue voters first. Period. Rush and organizations that advertise in the Business Times and provide the financial Limbaugh summed it up best: Liberals are wherewithall that enables me to do what I do. Your support has never been more liberals first. In other words, 47 percent to important — or appreciated. 48 percent of the vote is gone. Forget ol’

I remain grateful, too, for my boss, Craig Hall. He not only makes it possible Newt Gingrich’s statement of the last poll for me to do what I do, but also gives me unbridled freedom to do so. While I’m being as high as a Democrat can go. Sorry at it: Happy birthday Craig. Newt, time for you to go. Why does this

Thanks to Alowetta and Marc Terrien, the indefatigable couple that conjures matter? Simple. Democrats have convinced the Business Times website out of Thin Air. Thanks to Kitty Nicholason, who leftist and independent voters all laws and builds many of the ads that appear in the paper. rights come from Washington, D.C., and

For this newspaper editor, blessings most definitely include the columnists more important, evil Republicans want to who so generously share their time and talents along with their excellent advice take away those rights — which, by the and opinions. They include Janet Arrowood, Tim Haggerty, Dean Harris, Phyllis way, AREN’T rights. Hunsinger, Paula Reece, Marcus Straub and Tim Whitney. That’s not to mention Think about this. The single biggest the good folks with Bray Real Estate; Dalby, Wendland & Co.; Mesa County Public aggregate issue in the election was the Health; Monument Health; and Western Colorado Human Resource Association. economy. That put Republicans to sleep.

I also count among my many blessings the individuals and organizations who Unless you’re the senior milquetoast from help the editor of a business journal report on business, whether that’s sharing the South Carolina, Lindsey No-Chance-Oflatest real estate numbers or offering perspectives on the latest labor estimates. Being-Primaried Graham, who tried to force The Business Incubator Center, Grand Junction Economic Partnership, Mesa a vote on a federal abortion law right after County Workforce Center and local chambers of commerce offer remarkable SCOTUS ruled it’s the states’ to decide. resources. A little to editors. A whole lot to local entrepreneurs and businesses. Kinda makes you think it’s a federal right

Thanks as well to Rob Sperry and the team at Colorado Mountain News Media decided by Congress, no? The only reason that prints the Business Times twice a month. he could possibly try this level of stupidity

I tend to count a lot of blessings this time of year — especially when I’m is to preserve his minority power. enjoying whipped cream served with a slice of pumpkin pie. But I’m most OK, so a football analogy. For the thankful for what’s most important. Heisman trophy, 20 different guys split the first place votes equally and ONE guy gets Phil Castle is editor of the Business Times. Reach him at 424-5133 or every second-place vote plus one split of phil@thebusinesstimes.com. the first-place votes and wins the award. F He’s obviously the best, no? Well, NO. But with the economy coming in first in every poll once added up, Republicans just knew snatching defeat from the jaws of victory was in play. So tell me. If your single-issue passion is abortion, LGTBQ rights, the climate, animal rights, elections, Social Security and the Medis — and I could go on and on — who are you gonna vote for? The folks saying they’ll preserve your “right” to all of these. The Democrats have been pulling this for 50 years. And Republicans fall for it every time. Craig Hall is owner and publisher of the Business Times. Reach him at 424-5133 or publisher@thebusinesstimes.com.

A bizarre strategy to reduce inflation

The Federal Reserve announced on Nov. 2 it would raise the federal funds rate by 0.75 percentage points to a targeted range of 3.75 to 4 percent.

The Fed stated: “The committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.” A 2 percent inflation rate would be welcome. But how the Fed is trying to get there amounts to an economic mess. Indeed, it’s hard to follow the Fed’s reasoning. Nonetheless, this is how the so-called “thinking” regarding how to fight inflation has gone for a long time. Consider the current situation as summarized in the Federal Open Market Committee statement: “Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains

Raymond elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices and broader price

Keating pressures. Russia’s war against Ukraine is causing tremendous human and economic hardship. The war and related events are creating additional upward pressure on inflation and are weighing on global economic activity.”

There are issues worth raising here.

First, the Fed doesn’t acknowledge any culpability on its part for generating high inflation. But when we consider inflation is mainly a monetary phenomenon, here’s a case of the Fed playing pass-the-buck politics. That, of course, is not new with this Fed.

Second, as for the sources for our current bout of inflation, the Fed points mainly to pandemic-related imbalances, Russia’s war and vague mentions of higher food and energy prices and “broader price pressures.”

Hmmm. If that’s the case, how then will the Fed jacking up interest rates to slow the economy — which already is doing poorly as we suffer through stagflation — solve our problem of inflation? How exactly do higher interest rates rectify pandemic problems (think supply chains and the need for more workers) and war? Of course, the Jay Powell-led Fed might simply resort to taking a sledgehammer to the economy in the hopes of restoring supply and demand balance? In fact, that seems to be the case.

As the Small Business & Entrepreneurship Council has noted before, the only productive thing the Fed has been doing since late last year is starting to rein in its 14-years-long, mind-blowingly excessive growth in the monetary base — currency plus bank reserves. There’s a great deal to be done on that front, to say the least.

Meanwhile, Congress should act, not by browbeating the Fed or injecting itself into monetary policy decisions (we don’t need even more politics in monetary policy decisions), but instead by restoring the Fed’s main purpose.

Congress imposed the Fed’s dual mandate of price stability and maximum sustainable employment in 1977. The amended Federal Reserve Act reads the Fed must “maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates.”

This has been a source of policy mischief and much distraction from the lone job a monetary authority actually can influence, at least in a positive way, and that’s price stability. Return the Fed to the lone goal of price stability, and that in turn will serve as part of the foundation for a strong, healthy economy.

Raymond Keating is chief economist for the Small Business & Entrepreneurship Council. His latest book is titled “The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist.” The SBEC is a nonpartisan, nonprofit advocacy, education and research organization working to protect small business and promote entrepreneurship. For additional information, log on to the website at www.sbecouncil.org.

F

SHARE YOUR VIEWS

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