I had this odd experience the other day. A gentleman sets an appointment to meet with me in my small business and make a presentation about his company can provide a no-obligation evaluation and present proposals for reducing taxes, streamlining the sales process, helping with business development and acquisitions, etc. Sounds good, right?
After he left, I googled his company and found dozens of "this is a scam" related sites. It appears their method is to get in the door, get you to sign a contract, and then bill a small business for tens or hundreds of thousands of dollars of worthless services provided by inexperienced / unqualified "project managers."
Now, this morning, I think, here was a guy, well-dressed, professional, and a great salesman. Very good. Handled every question (obviously well-trained). The rest of the operation (the boiler-room-sounding main office call center) raised the red flags for me. But why is this guy working for a company like THIS, when he could be selling something productive?
OK, we're in an economic collapse. Good jobs are hard to find. So what's happening? Are we all just turning on ourselves to scratch out a living by taking from others? Have we become a nation of economic cannibals?
Case 1: Gas price gougers. If we accept the premise that the cost of the wholesale gas did NOT go up to $4.70 (since gas in Nashville, Lake City, etc stayed at $4 even), then $4.99 gas at Pilot/Weigels was nothing more than an opportunity to make more money by taking advantage of a bad situation (although possibly legal, I dunno if we have any laws in TN covering this). Fallout? Small businesses and independent contractors shut down operations, causing a larger economic ripple, larger than the possible extra profit the gougers might have made.
Case 2: Mortgage brokers. Not in every case, but I'm sure in hundreds of cases in Knoxville, the mortgage broker knew perfectly well that they were underwriting loans that the lendee couldn't pay, but doing a great sales job to convince them that they could. Maybe the broker didn't think about the long term implications on that family (including, possibly, domestic violence, divorce, and suicide), because they didn't want to. They wanted their commission check too badly.
There are more cases of this- where the economic damage reaped by Party X far exceeds the economic gain of Party Y. I suppose it's just another extension of the "Tragedy of the Commons," a glaringly huge hole in Free Market theory.
But it seems to be permeating everyday life. Again, have we become a nation of economic cannibals, destined to consume (and destroy) this country from within?
And, to make a last minute political tie-in: isn't this a moral issue? Isn't the self-acclaimed 'moral police' party standing with the economic cannibals through their laissez-faire economic theories, and taking a stance that is not only immoral, but supporting an immorality that can more directly lead to the downfall of this country, far more so than R-rated movies?
|
|
Discussing:
- Are Chat bots a waste of time? (1 reply)
- Smith & Wesson noise problem (1 reply)
- Musicians dropping out of President's Freedom Concert Series (1 reply)
- It's time for new blood in Congress, Barnett in - Burchett out (1 reply)
- Burning Down The House... (2 replies)
- Behind Lege Lies (1 reply)
- Peace (1 reply)
- Speak your truth, fight and believe. (1 reply)
- Large banks have too much AI data center debt? (1 reply)
- GOP misleading on federal health care funding (1 reply)
- Feds indict civil rights group (3 replies)
- Georgia issues burn ban, first time in state history (2 replies)
TN Progressive
- Smith & Wesson not a good fit for Blount County (BlountViews)
- Pellissippi Parkway extension delayed again (BlountViews)
- Blount County early voting record turnout (BlountViews)
- Louisville, TN, town center coming soon? (BlountViews)
- WATCH THIS SPACE. (Left Wing Cracker)
- America As It Is Right Now (RoaneViews)
- A friend sent this: From Captain McElwee's Tall Tales of Roane County (RoaneViews)
- The Meidas Touch (RoaneViews)
- Massive Security Breach Analysis (RoaneViews)
- (Whitescreek Journal)
- My choices in the August election (Left Wing Cracker)
- July 4, 2024 - aka The Twilight Zone (Joe Powell)
TN Politics
- Judge allows UFC cage matches to go ahead on White House lawn (TN Lookout)
- Stockard on the Stump: Tennessee keeping intensive probation program alive – barely (TN Lookout)
- Tennessee waste task force eyes changes to law allowing local rejection of landfills (TN Lookout)
- Nearly half of adults struggled to afford healthcare last year, survey finds (TN Lookout)
- Trump says ‘great settlement’ of Iran war in the works, signing ceremony soon (TN Lookout)
- ‘The Dumocrats are at it again’: Trump attack on California election offers midterm preview (TN Lookout)
Knox TN Today
- PAT the play returns to the stage in June (Knox TN Today)
- Easy Bacon & Swiss Quiche: Breakfast meal prep (Knox TN Today)
- Grayson boosts Ijams + In memoriam: Nic Arning, Bob Monday (Knox TN Today)
- Meet Slinky: The adventure buddy you’ve been wanting (Knox TN Today)
- Dining Duo goes to Vandergriff’s (Knox TN Today)
- Zoo Knoxville introduces Summer Concert Series (Knox TN Today)
- Food City named 2026 Retailer of the Year (Knox TN Today)
- 6/12 HEADLINES: News and events from Knox, World, USA, Tennessee & Historic Notes (Knox TN Today)
- Close to Home, Far from Ordinary: Townsend, TN, Ranks #9 destination on one tank of gas (Knox TN Today)
- Hiking with Harrington: Big Creek Trail (Knox TN Today)
- Falling Water Branch Falls: A 2020 Visit, Helene’s scars, and three new waterfalls (Knox TN Today)
- Lily in Red (Knox TN Today)
Local TV News
- How drones helped first responders get eyes on Morgan County train derailment (WATE)
- Unexpected rock issues push Alcoa Highway project end date, frustrating drivers (WATE)
- Woman charged after toddler left alone in car at Knoxville Walmart (WATE)
- Nonprofit brings veterans to Pigeon Forge for camaraderie and healing (WATE)
- Woman convicted in 1995 Knoxville murder challenging constitutionality of lethal injection (WATE)
- Unoccupied SUV crashes into Hamblen County home, displacing family (WATE)
News Sentinel
State News
- Healthcare dominates conversation with Republican primary opponents for Tennessee House - Chattanooga Times Free Press (Times Free Press)
- After Bonnaroo 2025 was a loss, organizers hoping for win in 2026 - Chattanooga Times Free Press (Times Free Press)
- Rock City gondola rejected by Lookout Mountain planners - Chattanooga Times Free Press (Times Free Press)
- Internet thinks World Cup team in Chattanooga is ‘hilarious.’ Local leaders don’t think so - Chattanooga Times Free Press (Times Free Press)
Wire Reports
- Workers begin removing Trump’s name from Kennedy Center - The Washington Post (US News)
- Justice Department approves Paramount’s deal to buy Warner Bros. - The Washington Post (Business)
- Anthropic disables Fable and Mythos AI models after U.S. government bars it from giving foreigners access - Fortune (Business)
- US kills leader of Venezuela's Tren de Aragua gang in airstrike, Trump says - BBC (US News)
- Tent collapses during Virginia church's 20th anniversary celebration, killing 1 and injuring 22 - AP News (US News)
- Judge orders Trump administration to restore national park signage on climate change, slavery - Los Angeles Times (US News)
- Why Musk Raced to Take SpaceX Public in the World’s Biggest IPO - Bloomberg (Business)
- Iran peace deal looms, new military action flares near Strait of Hormuz - Reuters (US News)
- Mystery orb videos, other UFO records released by White House - Axios (US News)
- Elon Musk, the world's first trillionaire - his stratospheric rise in charts - BBC (Business)
- Stock Market Today: Dow Ends Higher On Iran Deal Hopes; SpaceX Rockets 19% In Debut - Investor's Business Daily (Business)
- 1 killed, 10 hurt in mass shooting in Midland, Texas; suspect also dead - ABC7 Los Angeles (US News)
- Swear Trump's weaponization fund is dead to kill lawsuit, judge says - Axios (US News)
- An Intern Disobeyed His Parents and Joined SpaceX in 2011. Following Its Historic IPO, He and Thousands of Other Employees Are Now Millionaires - inc.com (Business)
- You can blame America’s plummeting fertility rate on the iPhone, study finds: ‘People are all depressed and alone and doomscrolling’ - Fortune (Business)
Local Media
Lost Medicaid Funding
Search and Archives
TN Progressive
Nearby:
- Blount Dems
- Herston TN Family Law
- Inside of Knoxville
- Instapundit
- Jack Lail
- Jim Stovall
- Knox Dems
- MoxCarm Blue Streak
- Outdoor Knoxville
- Pittman Properties
- Reality Me
- Stop Alcoa Parkway
Beyond:
- Nashville Scene
- Nashville Post
- Smart City Memphis
- TN Dems
- TN Journal
- TN Lookout
- Bob Stepno
- Facing South

Dear Sir! I must protest in
Dear Sir!
I must protest in the strongest possible terms the implication the United States economy is an 'aven for cannibalism. It is well known that we have the problem almost under control, and that it is know the Canadians who suffer the largest casualties in that regard...
No, wait....
Scam artists are, of course, nothing new, though I'd daresay their numbers grow as the economy weakens.
But I don't think its so much we've become a nation of economic cannibals as it is that we've become a nation where the gov't tells the cannibals "eat all you want, we'll look the other way as long as you don't snack on our kids", it bails them out once they run out of food! And we let the chiefs of the cannibal tribes walk away with a "golden cauldron" full of heads they've stocked up. (Yeah, I know, I'm really stretching the analogy here.)
I'm really starting to understand why the only time socialism had any real foothold in the US was during the Great Depression. When a completely unrestrained free market
fuscrews up this badly, is it any wonder people look at alternatives?First Princess Bride, Now Monty Python?
"I'd rather eat Johnson, Sir."
Just don't get me started
Just don't get me started with Simpsons quotes.
"President Bush, I've got someone here to help with banking crisis."
"Batman?"
"He's an economist."
"Batman's an economist?"
"It's not Batman!"
Due Dilgence, and timing
Just out of curiosity...why would you agree to take time out of what I assume if a busy day to see this guy without doing even the most minimal amount of "pre-search" on the company?
Paranoid Much?
I didn't get much information before the first meeting. The first meeting raised the red flags. I get 10-20 calls/emails a day from people wanting to provide some kind of product or service. I can't be paranoid about every single one of them and spend 20 minutes researching each one BEFORE hearing what they have to say. It's more efficient to hear their pitch and THEN, if I want to do business, do the due diligence. Which I did.
Great post. Most small
Great post. Most small business people are just trying to make an honest buck. Large corporations are predators, and small businesses are frequently their prey. Ask any small Walmart supplier.
In all honesty, my knowledge
In all honesty, my knowledge of economics comes from Mrs. Bressler's Economics class at Powell High, and Doctor Spiva's Intro to Microeconomics at UT.
In other words, I'm no economist. (And I know squat about macroeconomics.)
But isn't one of the basic ideas of a true free market economy that you have a large number of small suppliers of a scarce resource, each competing on a roughly equal basis?
Yeah, I know, that's a very simplified view of economics. But on that basis, does the United States have anything even resembling a free market for most goods and services?
Eww, I feel all icky...
but depending on your definition of "small supplier," I gotta stick up for Wal*Mart on the upstream (supplier) predator issue.
Walmart is one of our very best customers, probably the very best, to deal with. They're also among the top 5 most profitable on a per unit basis, so we're getting a fair selling price. They're very good at working with us on economical order sizes and predictable order patterns. When we offer them a Marketing Display Fund allowance, they actually follow through and put up the displays in their stores. They don't engage in "forward buying" to try to skirt a looming price increase. They pay their bills on time and don't try to nickle and dime us with phony damaged goods deductions. They actually make an effort to understand our business operation and the value we bring to their customers, our consumers.
Since Sam passed on, they have started to develop a case of the "Thou Shalt" disease, but that's a fairly minor issue compared to what we deal with from some other major customers. And by and large, the Walmart "Thou Shalt's" are ultimately good for both our businesses as a rule. They just require us to move a little faster than we might otherwise prefer to into those technologies and capabilities.
That's an *extremely* focused and narrow defense of Walmart. It ain't got beans to do with what they do to competitors, municipalities, or their own employees. But as a customer of ours, they're not so bad.
My experience with Mal-Wart
My experience with Mal-Wart was rather nasty. We refused to sell to them as a result. They brought in a gray market distributer who said he was distributing to the Carribean and placed a large order. We had a check run and found out he was a shill for Mal-Wart. They intended to undercut our small dealer network.
I can tell you stories that are much nastier, with regard to their methods.
Ethics
I commend you on your ethics, and your willingness to give up business because of them.
Re: Ethics
To help complete the ethics loop I refuse to spend a single penny in their stores.
I can't claim to be 100%
I can't claim to be 100% pure in avoiding Wal-Mart, but I come close.
(For instance, I did my "Toys for Tots" shopping there last Christmas. I figure the cheaper the price, the more unfortunate kids I help.)
But its not just my own smug sense of liberal self-righteousness that keeps me from shopping there. I think Wal-Marts are poorly laid out and not the cleanest store in town. I may pay a little more by going to Target, but at least I can find what I'm looking for.
Plus, and I'll confess this is snobbish of me... I still have the perspective that Wal-Mart isn't "America's Largest Retailer", its "Where rednecks shop." And I've devoted much of my life to not being a redneck.
I can say I am proud not to
I can say I am proud not to have stepped foot in a Wal-Mart store going on four years now. If it wasn't for a single birthday card that was needed at the last minute it would be five years. Their stock has held pretty steady for the past five years. They obviously don't need my money.