Sad News

Things like this make the “GDP is up” news ring a bit hollow.

Cochran’s largest employer, which celebrated its 37th anniversary about two weeks ago, will be downsizing during the next 12 months.

Conyers-based Lithonia Lighting, which is owned by Acuity Brands, will be moving part of its operation out of the Cochran plant which opened in 1973, said Racquel Wright, manager of corporate communications for Lithonia.

27 comments

  1. AlanR says:

    I’m sure this was a tough decision because so much of Acuity’s leadership is in Georgia. I hope these jobs are not going to wind up overseas. The surprise is Acuity maintains so much manufacturing in Georgia and the US.

    Thanks to all those meddling idiots in Washington for making it so difficult to manufacture anything at a profit in this country. And to freddie, fanny and the rest who have killed the housing market and construction generally.

  2. IndyInjun says:

    The GDP figures are only up because government spending is included in GDP.

    Nearly every government statistic is faked to the point of being propaganda, with the stats being quietly revised downward months later. 3rd Quarter GDP originally said to increase to 3.5%, but after revision in December was 2.2% (meaning that the first# was overstated an incredible 70%!!!!!!!) and would have been negative without Cash for Clunkers. November durable goods orders were revised sharply downward on January 15, after being used to stoke the market.

    Clinton, Bush and Obama all used this technique with abandon.

    Benjamin Disraeli said “There are three kinds of lies. Lies, Damned lies, and Statistics.”

  3. Mad Dog says:

    Indy,

    Preliminary figures are always wrong. Usually higher than usual. Mostly from a rush to get them out. And often from under staffing and under funding statisticians.

    And your best point is that the numbers are not ‘normed.’ I ain’t even going to try and explain how this years changes invalidate last years results.

    Try thinking about the Dow ‘average.’

    Only one company in the Dow today was in the ‘Dow’ in September 1929. General Electric.

    So if the Dow were stated without any adjustments, it would be the price of GE stock and not of forty new businesses.

    MD

    • ByteMe says:

      And often from under staffing and under funding statisticians.

      No, it’s because all the data on a $10+ trillion doesn’t show up in the first 30 days after the end of a quarter, so they estimate based on the data they do get.

      By the 90-day mark, you know the number’s the best it’s going to get, because they have more data and less guessing. It’s not perfect, but it’s also not a conspiracy.

      • Mad Dog says:

        Byte,

        I used to have a contact in the ‘data side’ of the Census Bureau. The Bureau collects all data. Period.

        What happens to the information after leaving the Bureau is dependent upon each end user.

        When the raw data from collection is compared to that of an end user, there’s been some ‘math’ applied to it. And there are enough statisticians in the government to meet peak demand. That’s what I mean. No one full time staffs to meet peak demand.

        Having said that… right or wrong … I agree with you that a multi-trillion dollar economy can’t be tracked in real time. No how. No way. And we would agree that the best information is merely the best possible estimate.

    • IndyInjun says:

      Mad,

      That is an absurd comparison. The revisions come 6 weeks later, not 60 years.

      Lately the unemployment figures are the most frequent source of disinformation, because the figures are generally for state UI programs and omit the folks falling off the state program and onto the Federal Emergency claims program.

  4. IndyInjun says:

    Let me put it to you this way. When you see the mistake going in the same direction time after time and the correction NEVER publicized with the same force, it might not be a conspiracy, but the damage is all the same as if there were one.

    For those who like to see stats figured on a more consistent basis as they were in the past, I recommend shadowstats.com.

    • Mad Dog says:

      Indy,

      On the topic of media publications, if the adjustments are thrown out with as much force, it’s a media issue.

      I think you’re one of the minority that actually look at stats and can remember the changes. Just saying most people don’t know much about stats from watching the news. ? Well, maybe I don’t know what I’m saying. Hmmmm.

    • IndyInjun says:

      I dang sure don’t believe corporate income and loss statements … or any other corporate number.

      Good thinking.

      Since mark-to-make-believe is now acceptable asset valuation, corporate financials have to be considered Enron-like.

      My own epiphany was when one of the Big Pharma wrote down $350 million of “cash.”

  5. Mad Dog says:

    Indy,

    “The GDP figures are only up because government spending is included in GDP.”?

    Yeah, the government doesn’t buy anything. Toss that spending out.

    • IndyInjun says:

      Yes, but how long does a heroin injection last?

      It isn’t like the output of a plant producing something, is it?

      We are to become a nation for, by, and of the people, as in you get a government check or die.

      • ByteMe says:

        The biggest component of our GDP is services. Which aren’t like the output of a plant producing something (says the person who provides services for a living 🙂 ). Government money is as good as anyone else’s when it comes to getting into the economy. However, like any company ramping up inventory by borrowing money, eventually they have to cut back and let the revenue start to come in.

Comments are closed.