Put This in Your Pipe… (Or How America Really Doesn’t Need The Political Grandstanding)

An open letter to our politicians:

Dear Republicans,

While you are screaming and digging your heals into the ground because you claim businesses are frozen (because of your claim that they are unsure of what their taxes will be), be advised.

Dear Democrats,

While you believe it in your heart of hearts that government can save this economy , pay attention.

While you both fight over who gets tax cuts and who can pander to their base more,  let’s just remember that it is not about you. No really, it isn’t.

This economy is not the shining star we want it to be, but there is some good news. Sadly, neither one of you seem to want to focus on anything good. Well, here is some good news that you can put in your collective pipes and smoke.

A Chicago-based company started in 2008 called Groupon is doing quite well thank you very much. With all the uncertainty, with all the grandstanding from both parties, Groupon is doing really well. In fact, Google can’t even buy them for $6 billion.

According to Mashable,

Groupon has reportedly rejected Google’s massive $6 billion acquisition offer and intends to stay independent.

The group-buying giant has been the center of the tech world this week after it was reported that Google had offered it $5.3 billion with a $700 million earnout. According to Chicago Breaking Business and Bloomberg, Groupon has decided that it is better off on its own.

To say this news comes as a bit of a shock would be an understatement. Many in the technology world believed that Groupon would accept Google’s offer, making its three co-founders (CEO Andrew Mason, Eric Lefkofsky and Brad Keywell) billionaires. Groupon’s board of directors met on Wednesday to decide the company’s fate.

So, maybe, just maybe, you can both see that while both of you continue to embarrass and frustrate those of us who are not in your collective bases, America is finding ways to have major success stories… without you! Just so you know, Groupon is hiring. Maybe now is the time for you to consider another career.



P.S. to Present Obama… Good news, Chicago company started in 2008 that is now worth over $6 billion… hello… Bueller… Bueller

2 responses to “Put This in Your Pipe… (Or How America Really Doesn’t Need The Political Grandstanding)

  1. Interesting point about the fact that high tech software seems to be picking up a little. Seems like the Economist World in 2011 also gives information technology a positive rating (between fair and sunny). What is disturbing though is the possibility of valuations getting out of control.

    According to Hoover’s site, Groupon was estimated to have earned $350 million in 2009. Not sure what is expected for 2010, a $6 billion offer seems a bit rich.

    IBM had also been on an acquisition spree this year too.

    The big question is how are other sectors doing? Financial Services? Infrastructure? Defense? Health care? Energy? Consumer Goods? (these all got fair ratings from the above mentioned Economist edition).

    Otherwise, I take it corporate taxes largely remain unaffected by the Bush tax cut deadline?

  2. I think taxes and fees for genuine small businesses are too high. That said, I’d like someone to show me real numbers around whether a minor fluctuation in corporate taxes actual causes more or less jobs.

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