Friday, July 04, 2008

Neuharth says plunging stock prices can be fun!

Like rubbernecking past a car wreck, I can't resist octogenarian retired CEO Al Neuharth's weekly column, every Friday in USA Today.

Our favorite multimillionaire media mogul admits (twice, in the same column; does anyone edit his stuff?) that he doesn't have a head for numbers. "So the stock market has just had its worst June since the 1930s Great Depression,'' the 84-year-old Neuharth notices. "Most of us are at least a little depressed about the economy in general."

But! "This week," he types, "I found a little fun in a new kind of office pool based not on the usual big-time sports events but the struggling stock market. Ten associates and I -- all news types -- started a semiannual pool on the Standard & Poor's 500, the stock market's best measuring stick."

How'd Big Al make out? Why, he cleaned out his friends, of course.

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