The Great Depression of the 1930s — the last time the term rightly applied — was industrial capitalism’s worst calamity. U.S. unemployment peaked at 25 percent in 1933; it averaged 18 percent for the decade. From 1929 to 1933, 40 percent of U.S. banks failed. People lost deposits; businesses and consumers lost access to credit. Over the same period, wholesale prices dropped a third, driving farmers and firms into bankruptcy. Farm foreclosures, shantytowns (called “Hoovervilles,” after the president) and bread lines followed.
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Returning from a meeting, I pulled into the perfect parking space: Just at the front door of a Starbuck’s. It didn’t take me long to determine how I had gotten so lucky, through my windshield as I saw emblazoned in white on the coffee shop’s tinted front door: “Thanks for two awesome years.” Starbucks recently [...]
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Shuffle Master (Nasdaq: SHFL.O), with no fanfare, last week filed with the SEC for an $86 million stock offering, today filed with the SEC, today felt Wall Street’s reaction as a Roth Capital Partners analyst said the offering would be more dilutive than he expected. And, by the way, that Shuffle Master was also seeking [...]
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