|The Value Bitch Slap|
As a financial journalist over the last decades, I have wrestled with the concept of value. It is, naturally, fundamental to a discussion of prices, markets and other such things with which money scribes concern themselves. Before, as a bond trader, 1980s Master of the Universe (and, increasingly at the time, coke addled legend in my own mind) I traveled the world's financial capitols where I met legions of vastly overpaid financiers who could quote you the price of everything, but understood the value of nothing.
I would sit on the bond desk and watch colleagues get caught up in the mania of phantasmagorical prices. Always always always, at some point, fundamental value would reassert itself and someone on the desk, caught up, would get their head handed to them. It was at this time that I began to come up with, kind of haphazardly I admit (consider, please, what I was on) something I called the value bitch slap - that usually jarring moment when fundamental value reasserts. Later on, as a money writer, I saw a lot of people get slapped around, a lot. I watched on the wider Wall Street stage as the broker went the way of the dodo bird, his middleman role sitting between counter parties exposed as worthless by the introduction of the Internet and discount do-it-ur-self investing. Home Depot did the same to greedy contractors and Southwest did it to coddled protected hub-obsessed and vastly over unionized airlines. All of them, and more recently virtually every single home owner in the U.S... value bitched slapped!
As a voluminous consumer of addiction treatment products and services over the years, I began to suspect the industry might have a bit of a value issue. (Like all medical services, frankly) Suspicion quickly turned to certitude as I criss-crossed these United States studying the treatment business as editor and publisher here. I'd listen to people insisting that $20K for 30-days was "cheap" and "affordable," my objections swept aside by intra industry, much higher price comparisons. Of course, the first sign of a value fall down is a micro relative price focus and failure to link prices to the wider real world. (Remember those "cheap" million dollar Palm Beach shacks?) $20K is nearly half the annual median income for a U.S. family, a lifetime income for dozens of African families and totally unsustainable for a highly repetitive addictions intervention.
The value bitch slap is coming to a treatment center near you...let us know how it feels.
About the Publisher
Ted Jackson is Treatment Magazine's publisher, editor and majority owner. A veteran financial journalist, Mr. Jackson's work has appeared in newspapers and magazines worldwide, including the Financial Times of London, The Irish Times of Dublin, Chicago Tribune, Toronto Globe & Mail, Reuters and hundreds of others. Mr. Jackson was among the five founding bureau chiefs at Bloomberg News, setting up the Canadian news operation for feed into Bloomberg's global wire. A former bond trader, Mr. Jackson worked on trading floors in Chicago, New York and Toronto.
written by lee mccormick, December 22, 2015
It's time for the treatment field to evaluate our priorities and have the courage to tell the truth!!
written by Rocky Hill, November 23, 2012