September 18th, 2008

Enterprise Bridge

Why aren't more people clear on the concept?

This is pretty damned obvious, and it's pathetic that media and investors (particularly the big ones like Warren Buffet) don't beat up on this point harder. Mark Cuban shouldn't be the only one aware that CEOs don't care if their companies tank. The company fails, and the CEO gets the softest, most refreshing kick in the ass out the door you could imagine. Carly Fiorina got $42 million after she wrecked HP, allowing her the luxury of hanging out with John McCain and telling you how he's no more qualified to run a major company than she was. There is zero risk, only different magnitudes of rewards, the least of which are still off the scale. If we return to confiscatory tax rates in the upper income brackets (which I don't think is a good idea) it's going to be because we finally get sick of this shit.

Mark's right, some types of companies should not be allowed to go public. The conflict between client service and shareholder profit is too strong in fields like investment banking and health insurance. Indeed, I think health insurers shouldn't even be allowed to be private for-profit companies. Failure to commit to short-term shareholder gain will get you sued. There's no way this can ever be a good thing.

Mark also points out a big common factor between AIG, Lehman Brothers, and Merrill Lynch: all three failed companies burned enormous amounts of capital to buy back stock from shareholders earlier this year. If I blew my allowance foolishly on Monday, why should my parents bail me out on Friday?
Enterprise Bridge

What'd they vote?

The Washington Post has a record of every recorded vote by every federal Senator and Representative going back to 1991. There's some interesting current-session breakdowns. Of the top ten Senate missed voters, six were at least presidential primary candidates, and two have suffered serious brain illnesses (Kennedy and Johnson). The eight Senate perfect voters have two sets of state delegations--Russ Feingold and Herb Kohl in Wisconsin and Susan Collins and Olympia Snowe in Maine. The individual official's page has breakdowns of key votes, votes missed, and votes against party.

For quick reference, here's McCain, Obama, and Biden.
Enterprise Bridge

Are you there God? It's me, Margaret.

Margaret Cho sums it up pretty well.

Since we're all created in God's image, God must incorporate all races and both genders. And all sexualities. So, I really can't argue with her position that God is a big faggy bottom. She may well be right. But he may also be more. I'll say this with certainty: Whoever God fucks, he fucks out of love. He'll still respect you in the morning, and he will call you.