Making Money Across America: Philadelphia -- Video Roundup
“Power Lunch” is in Philadelphia, talking about investment strategy, technology, outsourcing -- and, of course, the Philadelphia Eagles.
Here's what some of the guests on the program are saying.
Unisys President and CEO Joe McGrath
Economic volatility is creating both risks and rewards, says McGrath. One example: Unisys' largest business is outsourcing -- so "people are taking a closer look at cost pressures -- and that makes opportunity" for his information services firm.
With 50 percent of Unisys' revenue coming from abroad, the CEO says global growth is good for his company in two ways: the "low-cost resources" and economic expansion found in developing areas.
One possible pitfall: protectionism. McGrath notes one particular Unisys contract, providing "infrastructure for China airlines", would be in danger if relations between Washington and Beijing cooled.
The Vanguard Group Founder, Ex-CEO John C. Bogle
The author of The Little Book of Common Sense Investing tells viewers that "the stock market is a distraction" from the realities of balanced investment.
Can 1987 happen again? Bogle declares, "Unequivocally, yes!"
"The fact that something hasn't happened before doesn't mean it won't happen again. ...The one rule is that in the market, anything can happen."
But "Jack" Bogle says that using caution and common sense can protect investors from market vagaries -- and make them far richer in the long run than irresponsible "avarice."
Philadelphia Eagles Owner Jeffrey Lurie
Philadelphia being midway between America's financial and political capitals "created an underdog mentality" in the city, says Lurie -- but he refused to accept that as inevitable.
Investing more than $350 million in a new stadium and mandating good behavior off the field are all parts of creating a winning mindset for his team -- and for Philadelphia, in general.