RIGHT AND WRONG.
Author | Otterbourg, Ken |
Position | POINT TAKEN |
MY CRYSTAL BALL WASN'T PERFECT. BUT THERE'S ALWAYS NEXT YEAR. I SAY YES ON THE CAR PLANT NO ON AMAZON.
I don't want to say I told you so, but I told you so. Two years ago, I wrote that Duke Energy was going to try to recover much of its coal-ash remediation costs through the rate-making process. Lots of people said no way. But that effort is in full swing. Duke won't get all it wants, but it will get enough. I don't want to pay more to keep my lights on, but there's a small part of me that feels the slightest bit happy at being right. But no parades just yet. Predictions are fun, but accountability is important, so let's recount my mistakes, both in print and in thought.
* The Dow: Like President Donald Trump (pre-election), I thought the stock market was in an unsustainable bubble. I was wrong. It gained 25% through mid-December. Until interest rates rise, that's where the money gets parked, plumping up our pension funds and 401 (k)s. It makes everybody think investing is easy. It is, until it isn't.
* Gas prices: Still under $2.50. I thought they would be over $3. Cheap gas puts more money in our pockets and helps Detroit keep selling autos. But it's also driving public policy in perverse ways and, eventually, we will pay dearly.
* New governor: I expected more spit and vinegar from Roy Cooper. It seems that he has accepted the transformation of the governor's office from the executive branch to the executive twig.
* Cardinal Innovations Healthcare: I thought this managed-care entity would ride out criticism of its well-publicized gaffes, mainly because running mental-health programs for 850,000 people (mostly on Medicaid) is a thankless job. I was wrong. The state took over Cardinal's management. Not...
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