PharmaDudeBro Martin Shrkeli appeared before Congress today and pretty much took the 5th on everything other than spelling his name.
Afterward, he did drop this tweet us, though:
He’s certainly right about this. However: Continue reading
Afterward, he did drop this tweet us, though:
He’s certainly right about this. However: Continue reading
In our last discussion of the dangers posed by the current round of free trade deals under consideration in the US, Europe and Asia a while back, we noted (as have others) the potential of these deals to undermine domestic legislation if that legislation negatively affects the potential profitability of a company. Both NAFTA and the World Trade Organization (WTO) have this sort of mechanism, wherein a company affected by domestic legislation can appeal to the WTO to be compensated for the potential financial impact, or ask for fines against the country found guilty of trade agreement violations. This mechanism of trade agreements is clearly financial blackmail, designed by multinational corporations (mostly American, but a fair number of European and Asian companies as well) to prevent domestic legislation covering stuff like pesky environmental regulations, or recurring European attempts to ban beef hormones. This sounds very bizarre, of course—who in their right mind would tolerate this? But the US does, as do all signatories to the agreements that created the WTO and NAFTA. As we have just been reminded. Continue reading
Have you seen the latest Subway ad? If not:
So, if I were in charge of Subway’s advertising here in the post-Jared world, I might have done things a bit differently.
1: There would be, no how no way, no conversations taking place in HR. Continue reading
If you ask him a direct question, he will answer. If he doesn’t know, he will admit that he doesn’t know. He will tell you he wants to raise taxes. He will tell you he does not want to fight a war in the middle east. These are things other politicians will never admit, even if they are true, because in modern American political culture, the prevailing wisdom is that it is better to lie to the voters and win under false pretenses than to speak an unpopular truth and lose. Continue reading
This may be the most unexpected tribute you read to Rock megastar David Bowie, who has died at age 69 a mere two days after the release of his acclaimed new CD, Blackstar.
Before I start, let me acknowledge that some readers may feel like I’m sullying the legacy of one of our greatest artists by associating him with marketing. There are two answers to that charge. First off, art and marketing aren’t necessarily mutually exclusive. You can do both. Second, if you can examine Bowie’s career, paying attention to all the times he reinvented his image and to the impact he exerted on fashion, without accepting that he was a branding genius, then you don’t know much about marketing. Continue reading
You’ve all known an asshole — a rude, arrogant, contemptuous person. Assholes are irritating. Assholes are the bad breath of personalities. A reasonable person’s reaction to the presence of an asshole is Get the fuck away from me, asshole.
How, then, to select an Asshole of the Year? Continue reading
Well, isn’t that special: Congress passed a $1.1 trillion spending bill before heading off for a three-week holiday vacation. (You get that much time off?) Brinkmanship is avoided; threats to shut down the government over (this time) Syrian refugees or the Puerto Rican debt crisis are avoided (or, more likely, postponed).
But it’s a bad bill for any president serving in the next few decades. Those presidents, irrespective of party, will have to deal with the physical consequences of human-induced climate disruption as well as the political repercussions of not meeting the Paris accords.
That’s because provisions buried in the spending resolution hamper the ability of future presidents to cope with a warming climate. And that’s because your representatives caved (as usual) to the oil and gas industry lobby.
As Bill Moyers and Michael Winship report, each $1 the oil and gas lobby spent in 2013 and 2014 returned $103 in subsidies. The industry spent $326 million to lobby Congress. In return it received $33.7 billion in government favors.
In my favorite bad movie, The American President, Michael Douglas as the fictional President Andrew Shepherd confronts his Republican challenger’s claims about Shepherd’s character.
We have serious problems to solve, and we need serious people to solve them. And whatever your particular problem is, I promise you, Bob Rumson is not the least bit interested in solving it. He is interested in two things, and two things only: Making you afraid of it, and telling you who’s to blame for it. That, ladies and gentlemen, is how you win elections.
You gather a group of middle-aged, middle-class, middle-income voters who remember with longing an easier time, and you talk to them about family and American values and character. … You scream about patriotism and tell them [who’s] to blame for their lot in life … [emphasis added]
Now remove Bob Rumson’s name and insert the name of any of the recent CNN main stage GOP presidential candidates (or even Wolf Blitzer, as he goaded them into ISIS hysteria). Continue reading
A good bit has been written about new TV deals for England’s Premier League – Sky domestically and NBC in the US – and the numbers are frankly mind-boggling: Sky is ponying up more than £5.1B (~$7.75B) and NBC is paying around $1B for rights through 2021-22. When rights for all international deals are factored in, the Prem will haul in around $4.3B a year. (Massively detailed analysis here.)
This is great news for the league’s clubs, obviously, as the payout for even the worst teams will assure that they’re wealthier than all but the biggest clubs in the rest of the world. The top 14 English sides are already among the world’s 30 richest before the new deal even takes effect. Continue reading
We have accepted more than 100,000 Somali refugees since 1991. In the last 25 years, 50 of them have become terrorists. That’s 0.05%, which is good, but not good enough for us. We want zero terrorists, including those who go back to Africa to kill people. We don’t want African people to die either. That is our strength, no quarter, no shadowy corner where the darkness can hide from the light. Continue reading
Driving home from visiting my grandmother, I encountered an advertisement on 96.3 WROV for a website called FriendsWhoLikeDonaldTrump.com. This is how the Ted Cruz campaign is harvesting data including name, birth date, location, and every page one has “liked” on Facebook. Obviously, the unwritten law of The Internet is “click at your own peril,” but there’s a twist.
It automatically harvests names, birth dates, locations, and “likes” of all your “friends,” and the average Facebook user has 340 friends. This is a major breach of security perpetrated by Ted Cruz against people who love Trump AND people who hate Trump. It’s kind of a big deal. It’s crowdsourced identity theft, using Trump minions and anti-Trump minions to collect information on the entire Facebook community without our consent. Continue reading
I’ve been wrestling a bit with my career situation lately. Like a lot of folks, I feel like I’m not being compensated very well, and that suspicion is validated by some basic salary research – and also by the CEO, who admits that the company needs to normalize a lot of salaries with the broader market.
Of course, the people I work with love me and get the importance of what I do. But they aren’t making the call on salary. Not long ago, in prepping for a conversation on the subject with the person I report to, and trying to decide how best to represent my position, and trying to anticipate what he might say, it hit me.
The company appreciates me, but it doesn’t value me. Continue reading
Hillary Clinton on Sunday announced her plan for infrastructure spending—a “down payment on our future,” she said—and it comes with a hefty price tag: $275 billion.
At a campaign event in Boston, the frontrunner for the Democratic presidential nomination called for an increase in federal infrastructure spending over five years and the establishment of an infrastructure bank—two proposals that she says will create jobs and repair the U.S.’s crumbling highways and bridges.
Just $275 billion? That’s only $55 billion annually. That’s not enough to address the ailments of the nation’s roads and bridges — let alone everything else. The Federal Highway Administration argues $170 billion is needed each year to address safety issues and performance. Federal, state, and local investment, the American Society of Civil Engineers says, amounts to only $91 billion each year. Meanwhile, bad roads cost Americans more than $100 billion annually in wasted time and fuel.
Guns, drugs, income inequality, violence against women, gender identification, homosexual rights—you name it, our sports venues are where those issues are debated.
This week end was a big one on the metaphorical battlefront. Continue reading
I returned home from vacation this morning. I had reserved a lift with SuperShuttle to save a few bucks on airport parking. Never again.
As we landed I flipped on my phone. I had an e-mail from SuperShuttle explaining how to check in on the mobile. Sweet. I followed the instructions and proceeded to the baggage claim. I was to select “Downtown” or “Not Downtown” and submit once I had my bag. Here’s where it went sideways.
Mark Carney, the former Goldman Sachs banker and head of the Bank of Canada who now heads up the Bank of England, threw the City of London financial community into a bit of a tizzy recently. Carney picked up on a line of argument that a number of NGOs have been pushing for several years now—that investing in fossil fuels carries some potentially serious financial risks that investors should be giving some thought to. Carney simply pointed out the obvious, or what has been increasingly obvious to a number of investors for a while now. And that is the notion that if governments really do stick to adopting measures that will help to insure that global temperatures rise only 2 degrees Centigrade, many of the carbon assets currently on the books of fossil fuel companies—coal in particular, but other fossil fuels as well— will be “unburnable.”
This is not a new issue. A number of NGOs have spent the past several years leading the charge to “de-carbonize portfolios.” This portfolio de-carbonization effort is based on the perception that, aside from whatever “ethical” concerns may justify this, there is also a high likelihood of increased financial risk associated with carbon ownership—the exact point that Carney made. Much of this effort has been led by Carbon Tracker, a UK organization, but the original argument actually goes back to a presentation by environmental activist Bill McKibbin. Continue reading
I caught a cold last week. So I missed several days of scrolling endlessly and mostly fruitlessly on Facebook.
I did not suffer from FOMO — that Millenial-dreaded “Fear Of Missing Out.” I don’t care that I missed so many things that so many others felt so important they had to be shared. I read books instead.
I probably missed birthdays and Facebook invitations to “send a message” to the honorees. Maybe I missed my brother reaching his biking mileage goal. (So I called him and asked. He’s close.) Surely numerous friends and former students posted more kid pictures. I missed, no doubt, hours of scrolling through auto-play videos, listicles, quizzes, cute (to someone) YouTube kittens and puppies, what (to someone) is newsworthy, screeds about morality and politics, and the “ten things you need to know now.” I didn’t learn what Shakespearean character I am or what my favorite color says about me or whether I can successfully identify hit songs of the ‘70s. My bout with a virus deprived me of screen loads of time-wasting crap.
You’ve heard about e-trading, or high-frequency trading — the use of algorithms to react instantly and reflexively to the market. And you may have heard about robo-advisors, in which software manages your portfolio. Also, as Jerry Kaplan writes in his new book, Humans Need Not Apply (Yale University Press, 2015), of Amazon, etc.:
Super-human omniscient systems observe our individual and group behavior, then guide us to what we purchase, listen to, watch, and read— while the profits quietly pile up elsewhere.
In fact, the day may come when robots will own assets. Continue reading