The economy, after further review
“Right now it looks like I was too conservative in my prediction. (HCN, Readers Respond, January 2012) We are internally adjusting our expectation higher. Hail and windstorm activity has certainly had a positive influence. Housing starts in DFW, Austin, San Antonio and Houston have reached double-digit increases over last year, but construction does appear to be starting to back off a little and level off. Overall, we now believe Texas may achieve an 8% to 10% rise due to the increase in multi-family construction, about three to five points higher than I originally thought. Nationally things appear to be better due to the tremendous rise in multi-family construction, not all of which is true demand-based. There is a very favorable investment climate right now to build and sell rental property.
“An economic service I trust and follow predicts 10% to 12% gains annually, but I still see things more in the +6% to +8% range. All of this is without federal stimulus. If the Feds stimulate, we will do better — for a while.”
— Byron Potter
Vice-chairman & CEO
Dallas Wholesale Builders Supply, Inc.
The future of the penny at POS
“Like the horse-drawn carriages, Dodo birds and lots of other bygone things, the penny has outlived its usefulness and reason for being. It’s about time to eliminate it!”
— Paul Siegel
“[Banning the penny is] not a good idea. The larger the increment, the larger the cost. At retail, sales tax payments, income tax payments all would round up so the end consumer pays the price.
“It’s like the 3.99.9 cost on gasoline. Leave the 10th of a cent there; or in the transaction sense, leave the pennies there.”
— Charles “Chaz” Mott
“My father received a personal citation from President Franklin Roosevelt for his idea to mint pennies out of zinc, instead of copper; thus diverting the copper to ammunition for our troops. Bus and streetcar drivers hated those zinc pennies, as riders often mistook them for dimes and they jammed the fare boxes. Several weeks after my father passed away, I received a letter from a former infantryman from WWI