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Re: WallStreetReports101 post# 583

Tuesday, 01/27/2015 12:00:12 PM

Tuesday, January 27, 2015 12:00:12 PM

Post# of 651
PennysRus,

There is a mail boat excursion that takes on passengers in the Adirondacks on a lake just above Old Forge, NY. The boat gives out a short blast from its whistle as it nears a multi-million dollar cabin so that rich folks are notified they must interrupt their rest and relaxation to get their mail. In one nice touch, the mailman has a dog biscuit for the omnipresent dogs. Everybody waves, the dogs wag their tails and the mail goes through no matter the ripples and breezes, fog and rain until winter arrives.

In that idyllic setting, some heavily forested land along the lake to the west stretches mostly undeveloped off to the horizon owned by the estate of the man who "helped Thomas Edison with his light bulb" back when dabbled in a bit of real estate as well as building his own spacious cabin the woods.

I tried to get the name but I suspect it was the actual inventor of the light bulb, Joseph Swan, that got a piece of the action only by suing the ruthless businessman and inventor in his own right who monopolized the light bulb.

For me it was a nice reminder that once invention and inventors occupied a hallowed place in America rather than being labeled despised trolls and America thus became the most powerful industrial engine that ever existed. Today monopolists that were once known as robber barons are the only "inventors" who get respect since they and their bankers own the government that once belonged to the people - to a degree - and America's industrial power is in steep decline.

I frankly don't believe in the myth of patent trolls. Even the fabled patent on a peanut butter and jelly sandwich by Smucker's had some raison d'etre though the patent protection was later revoked because of all the dreadfully crude laughter. smile

Undoubtedly there are numerous patents on trivialities and confidence men like the incredible Will Smith and his Poison Pen Gang of whom it was said giving Will Smith a credit card was like giving a terrorist an atom bomb.

But there will be no more golden eggs if you butcher the goose. The evidence is plain enough.

All JMO.

Best, Terry

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