Table of contents

The Law of Unintended Consequences

Cuyahoga River Fire

U.S. Manufacturing Jobs as a Percent of Total Jobs

“If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better to buy it of them with some part of the product of our own industry, employed in a way in which we have some competitive advantage.” Adam Smith

Sarbanes Oxley

U.S. companies paid $4.36 million on average to comply

Insurers charge U.S. companies 6 times that of European companies

$3.68 trillion in takeovers

Value of U.S. shares dropped the most since 1984 2.2% on a net price basis!

S&P 500 Index Returns from 2003 - Today

PowerPoint Presentation

Slide 12