Eugene David
...The One-Minute Pundit

Thursday, October 09, 2003


THE PAUL "NUMBERS ARE FUN" KRUGMAN STATISTIC OF THE WEEK:

If you bought $10,000 worth of General Electric stock on the day Jack Welch became chairman and CEO back in 1981, that same investment would be worth over $750 million today. (Emphasis added.)

LIT-TLE JEFFREY!! LOOK BEHIIIIIIIIIIIIIIIIND YOUUUUU!!!!

(Using my handy-dandy super-duper Calculator function I can ascertain that GE Bancorp's market cap in 1981 was $4,040,000.00 [assuming no reinvested dividends]. [On the other hand, if LEGENDARY WELCH bought the stock in '81, it probably was worth over $750 million.] Here is Exhibit #1 in the case of the news biz' penchant for statistical nonsense.)

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