The public thinks the average company makes a 36% profit margin

The actual numbers are a LOT lower. In this study, “…the average profit margin for the most recent quarter was 7.5% and the median profit margin was 6.5%.” That demon corporation Walmart realized only 3.1% in the most recent quarter, and “Big Oil” was below average at only 5.1%.

“The public’s complete overestimation of how much companies earn in profits as a share of sales explains a lot. If $36 of every $100 in sales at a company like Walmart, McDonald’s, Home Depot, Ford Motor Company or a local dry cleaner or restaurant really did turn into profits, then of course those companies could afford to pay unrealistic living wages of $15 per hour, accept unreasonable demands from labor unions, provide all sorts of generous fringe benefits including weeks of paid holidays, long paid maternity leaves, and gold-plated pension programs, etc. The public that believes in the fantasy-world of sky-high 36% profit margins would naturally think companies are just being greedy and stingy when they don’t pay higher “living wages” and have to be forced to do so through minimum wage, or living wage, legislation.”


Peer-Reviewed Survey Finds Majority Of Scientists Skeptical Of Global Warming Crisis

The original study is here.

It is becoming clear that not only do many scientists dispute the asserted global warming crisis, but these skeptical scientists may indeed form a scientific consensus.

Don’t look now, but maybe a scientific consensus exists concerning global warming after all. Only 36 percent of geoscientists and engineers believe that humans are creating a global warming crisis, according to a survey reported in the peer-reviewed Organization Studies. By contrast, a strong majority of the 1,077 respondents believe that nature is the primary cause of recent global warming and/or that future global warming will not be a very serious problem.

The survey results show geoscientists (also known as earth scientists) and engineers hold similar views as meteorologists. Two recent surveys of meteorologists (summarized here and here) revealed similar skepticism of alarmist global warming claims.

So, the debate is over, eh?


Scientific Journal Publishes Fake Study On Whether Mommy Boo-Boo Kisses Really Work

Maternal kisses are not effective in alleviating minor childhood injuries (boo-boos): a randomized, controlled and blinded study–published online in Journal of Evaluation in Clinical Practice.

The study was supposedly done by Study of Maternal and Child Kissing (SMACK) Working Group. No institutional review board would have approved this, of course.


Liberals vs conservatives–why can’t we all just get along?

A big part of it may be that we have not taken the time to understand where the other side is coming from. Many an argument on the internet, or in person, may be occurring because one or both sides do not understand the thoughts and motivations of the other side.

Do you really understand what liberals or conservatives think about immigration, the minimum wage, free trade, or the budget deficit? And which side is more likely to understand the perspective of the other side?

An active study is now being conducted, by Dr. William C. Wood and Dr. Angela M. Smith from James Madison University, entitled Economic Turing Test (The title is a little disturbing, if you are aware of what is an actual Turing test). They anticipate that results of the study will shed light on whether liberals or conservatives understand the other side’s perspective.

I have some questions about how the survey questions are put together, but the study is an intriguing concept, and the results may be quite interesting.

Click on the link and participate, if you like. We may all learn something about ourselves.

Two businessmen having an argument