Sony says it’s going to stop making Walkmans. This will come as devastating news for anyone who realized that Sony was still making Walkmans. Who’s been buying them? People who like to go for a little jog… in the past? It’s been a while. I think the last time I listened to a Walkman it was playing Frankie Goes to Hollywood, and it was cool. RIP, Walkman. Before Walkmans, if someone was on the bus next to you bobbing their head and singing, you could be pretty confident that they were crazy. Nowadays if someone on the bus ISN’T bobbing their head and singing, you assume their batteries must be dead.
Christine O’Donnell gets ‘auto-tuned’ and goes viral…
If we as a nation truly believe in entrepreneurship - the very thing that made America an economic success - then we need to pro-actively encourage and provide help and incentives to small businesses. Herbert Hoover started the Reconstruction Finance Corporation (RFC) in 1932 to float loans for companies companies that were falling into bankruptcy because so many banks were on the edge of failing that nobody could borrow money. The Dwight Eisenhower administration created the Small Business Administration (SBA) in 1953. But big businesses found ways to game the system and be counted as "small". Now would be a great time to reinvent the SBA from the ground up, making it a place where a person who wants to start an auto repair shop or a small retail store could find the capital to get off the ground. We also need to discourage or ban major corporations from their mergers-and-acquisitions mania and close tax loopholes and stop tax subsidies for them. Moving our personal banking to a local credit union is another good start.
Learn more in chapter three of Rebooting the American Dream, "Stop Them from Eating My Town!"