The statistics tell one story I guess. And the emotionally driven sinking red line tells another. But last week I picked up a copy of the Wall Street Journal on my way to breakfast where beside pictures of brokers with heads in their hands was a small story about one (unknown) company paying $6billion in cash for another (unknown) company. Subsequently there has been a quick check every day to see what other business news focused on such mergers and acquisitions. Seems that in that part of the market at least there is plenty of cash around, possibly even more so. As one commentator observed, the market is still awash with cash. Which is an observation seemingly underscored by the story of Joe the Plumber and requests to purchase the joetheplumber.com domain name – now that Senator Obama has drawn attention to the man. Someone is reportedly offering USd800,000 for the internet name, which suggests that not only is a fool and his money soon parted but that there are plenty of both (fools and money) still out there. Which should put a smile back on the face of those poor, hard done by brokers.
p.s. you can only envy the remarkable marketing Joe in Texas now must be enjoying!! Do hope he gets a lot more grease traps to clean out.
