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What U.S. can learn from Apple
By siliconindia
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Friday, 05 August 2011, 00:00 IST |
3 Comments
Bangalore: Though the recession technically ends, but the Americans do not seem to be making up for their past mistakes. The U.S. Federal Reserve found that outstanding credit card debt in the nation have totaled $790 billion in the last quarter of 2010. The International Monetary Fund (IMF) has its forecast for the U.S. economic growth, warning Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits. Cash-rich Apple can offer many tips to the debt-ridden U.S. government in financial management, says the Wall Street Journal, not the least being overcoming the "psychology of defeat".
Three step theory
What would happen if Apple had to tackle the US debt crisis, asks David Weidner who has covered Wall Street for over two decades. "First, it would eliminate spending that's not working. Then it would make a commitment to spend if necessary. Third, it would look for ideas to spend on. Finally, it would call customers' bluff. How much are you willing to pay for what the government gives you?'' he writes.
