The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE's?
We met financial expectations for the quarter in a difficult economic environment. We also signed a two-year programming agreement with Home & Garden Television to launch two new cable television series, and launched the Martha Stewart Kids magazine These initiatives provide future revenue and earnings growth for the brand and build long-term value for shareholders.
Income and inheritance taxes imply the denial of private property, and in that are different in principle from all other taxes. The government says to the citizen: “Your earnings are not exclusively your own; we have a claim on them, and our claim precedes yours; we will allow you to keep some of it, because we recognize your need, not your right; but whatever we grant you for yourself is for us to decide.
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