• Featured
  • Australasia
  • The Americas
  • Europe
  • Africa
  • Market
  • Precious Metals
  • Resources
  • Currencies
  • Real Estate
  • The Bonner Diaries

Conference Center in Normandy


By Bill Bonner • December 22nd, 2009 • Related Articles • Filed Under

About the Author

Bill BonnerBest-selling investment author Bill Bonner is the founder and president of Agora Publishing, one of the world's most successful consumer newsletter companies. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning.

See All Articles by This Author

  • A Recovery of Some Kind in Global Trade
  • Stock Picks From the Vancouver Conference
  • Geothermal: Clean, Green, Reliable Power
  • The Global Financial System is Falling Apart and the World Economy is Slowing Down
  • The Future of Energy
Filed Under: The Bonner Diaries
Tags: diplomas • handyman • Normandy • renovation

Out in Normandy, our white elephant was whiter than ever...

The huge house we acquired as a conference center is still undergoing renovation. It is livable...comfortable...and even elegant. But there are wires hanging out of the wall...some radiators won't turn on...others that won't turn off... And the authorities still argue over how to finish it off. Those charged with protecting the dignity of the handicapped want to see an elaborate elevator, right in front, so the wheelchair-bound can enter through the front door. Those who are meant to protect France's historic buildings, on the other hand, want to see cripples limp in through the back door, so the façade remains as it was in the time of Louis XVI.

The real problem is that almost anyone who ever worked on the place was either incompetent, dishonest or...most often...a mixture of the two. You always come across a few bad apples on a project this big; but we seemed to get a whole barrel of them. But then, the law of averages caught up to us. What luck! We found a handyman who is so handy, he seems able to correct, singlehandedly, the errors of a whole army of clownish electricians and befuddled plumbers.

"Today, diplomas are all that count," he explained yesterday. "You get a guy with a diploma showing that he knows how to do electricity, then they turn him loose on the job. Take a look at these wires. [He pointed to a tangle of wires of various sizes and colors...where he had pulled down a section of sheetrock in the ceiling]. No respectable electrician would do a thing like this. They've got the low current wires - you know, for the doorbell and the alarm system - mixed with the high current wires. And then...look at this...they ran them all together through a steel pipe. It's hard to imagine a dumber thing. The wires together in the steel pipe will create a kind of induction that is bound to cause trouble sooner or later...

"When I was coming along, it wasn't like that. I had to learn on the job. But those were the good old days. People still took pride in their work. They weren't just trying to earn money. They actually enjoyed doing a job well. And they enjoyed teaching younger guys how to do a job properly. France used to have excellent craftsmen. They were respected. Because these did what we call 'noble work.' They did it right, mostly for the pleasure of doing it right. But those days are gone. Now, you have people doing jobs as fast as possible just to earn as much money as possible. They put in this sort of thing and cover it up before anyone has a chance to give it a thorough inspection."

Why don't we just call the electrician back and get him to do the job right, we asked?

"Ha ha... Well, in the first place, he wouldn't do it. He was paid two years ago. You could sue him...but by the time you ever got a settlement he'd be dead and buried...and so would you, probably. Besides, you don't want him anywhere near this place. He's done enough damage already."

Until tomorrow,

Bill Bonner
for The Daily Reckoning Australia

VN:F [1.9.11_1134]
please wait...
Rating: 8.0/10 (6 votes cast)
VN:F [1.9.11_1134]
Rating: +3 (from 7 votes)
Conference Center in Normandy, 8.0 out of 10 based on 6 ratings



P.S. to get The Daily Reckoning direct to your inbox sign up to our free e-mail newsletter or if you prefer to use RSS, subscribe to the Daily Reckoning RSS feed.

Related Articles:

  • A Recovery of Some Kind in Global Trade
  • Stock Picks From the Vancouver Conference
  • Geothermal: Clean, Green, Reliable Power
  • The Global Financial System is Falling Apart and the World Economy is Slowing Down
  • The Future of Energy

About the Author

Bill BonnerBest-selling investment author Bill Bonner is the founder and president of Agora Publishing, one of the world's most successful consumer newsletter companies. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning.

See All Posts by This Author

Post a Response

Comment moderation policy: Port Phillip Publishing supports free speech and frank and open conversation. But we reserve the right to modify or delete your comments if we consider them to be offensive or in violation of any laws, including Australia's anti-discrimination laws

By submitting your comment you agree to adhere to our comment policy.


  • Why Should I Sign Up?   We Value Your Privacy
  • Master trader predicts next move for ASX...

    Latest Slipstream Trader Video Market Update Just In... watch for free below.


    One viewer said these prediction videos were “scarily accurate”... another said Murray Dawes was “well on the money”... To find out where the Slipstream Trader thinks the market is headed next, and what that could mean for your investments, click below now to watch his latest video update...

    8th February 2012 - Market Update

    It’s one thing to have a view on where the market is headed next... It’s another to have specific stock trading recommendations emailed to your inbox.

    To take a 90-day, no obligation trial of Slipstream Trader, click here
  • Search

    The Markets

    All Ordinaries4322.600  chart-34.500
    S&p/asx 2004245.300  chart-37.600
    China Shanghai Co2351.981  chart+2.392
    Gold Sep 110.00  chart0.00
    Clj11.nym0.00  chartN/A
    Nikkei 2258947.17  chart-55.07
    Indu0.00  chartN/A
    S&P 5001342.01  chart-9.94
    Ftse 1005852.39  chart-43.08
    2012-02-10 00:50

    Most Comments

    • Australian House Prices Are Severely and Seriously Unaffordable (312)
    • Majority of Australians Believe House Prices Will Rise in Next Twelve Months (293)
    • Gas is the New Oil (256)
    • A Date for an Aussie House Price Collapse (251)
    • How to Profit From the Path of Progress (230)

    Archives

  • Headline Archive

  • Slipstream Trader

    Thousands now trade the markets who never thought they could...

    Breakthrough in trading techniques helps regular investors:

    • Determine how much to risk in a trade
    • Lock in profits while the position is still open...
    • Exit a losing position before a share tanks...

    If you thought trading was too complicated, prepare to be surprised... click here
  • Australian Wealth Gameplan

    "A rapid contagion is spreading.
    Even if you think you are relatively safe, this is a new, permanent risk. It will be with us for the next decade, or even two”.

    - Edward Morse, Veteran oil trader

    Right now a ‘paradigm shift’ is taking place that could present you with the single biggest investment opportunity of your lifetime.

    It also represents risks to your portfolio that could surpass those of the Global Financial Crisis fallout.

    Get full details in this just-completed presentation. (turn on your speakers)
  • Diggers & Drillers

    “Why a mining executive told me to F*** Off
    in front of a whole room of investors”
    Dr. Alex Cowie doesn’t have the most popular of jobs. At least – not inside the mining industry. For his readers, it’s another matter entirely.

    As Laurence says: “I have never bought a stock and got a 100% return before … thanks for providing the information for me to have that experience – and all within two months too!”

    Right now Alex has unearthed six “must buy” resource stocks for the year ahead. His method for finding them might annoy a few people in the industry… but it could help make a lot of money in 2012 too.

    Find out why, right here

  • Home
  • Newsletters
  • About
  • Subscribe
  • Columnists
  • Contact Us
  • RSS

All content is © 2005 - 2011 Port Phillip Publishing Pty Ltd All Rights Reserved

We encourage you to republish our material, all we ask is that you provide a working text link back to the original article on this site.
Port Phillip Publishing Pty Ltd holds an Australian Financial Services License: 323 988. ACN: 117 765 009 ABN: 33 117 765 009
email: dr@dailyreckoning.com.au Tel: 1300 667 481 Fax: (03) 9558 2219
Port Phillip Publishing Attn: The Daily Reckoning PO Box 899 Braeside VIC 3195

Terms and Conditions | Privacy Policy | Financial Services Guide

SEO Powered by Platinum SEO from Techblissonline