Quote of the Week: Obama’s Next Move Towards Socialism


Obama_0c245_image_1024w1-300x200From CNN's Breaking News:

"EXCLUSIVE: President Barack Obama told CNN's Jake Tapper on Thursday that some of the country's largest corporations have signed on to a White House plan to boost the hiring of the long-term unemployed.

'What we have done is to gather together 300 companies, just to start with, including some of the top 50 companies in the country, companies like Walmart, and Apple, Ford and others, to say: Let's establish best practices,' Obama said in the exclusive interview…

Obama's move is in line with his pledge to use executive action on his agenda items that he hasn't been able to get through Congress."

The Frustrated CFO Comment:

Alrighty then!  So, this is how we are going to deal with overpopulation and economic stagnation:  Instead of cutting down government spendings, ceasing the preposterous fueling of the financial sector, ending the subsidies to failing industries, letting the stock market to finally adjust to its real value, providing incentives to domestic manufacturers for repatriating their productions from overseas, and reducing business taxes in order to reignite small-business growth, the President proposes to create a new form of Welfare, i.e. to force big-time employers to absorb long-term unemployed people - in exchange for some tax credits, no doubt. 

Hmm…  Not that I'm concerned for the overgrown business superpowers with their blown out of proportion stock values and unjustifiable multi-million-dollar executive salaries, but if they don't experience a labor-force deficit, why would they accept extra employees?  That goes against every single principle of a market economy, even in its degenerative form we have right now!  And where they are going to employ them?  Walmart is planning on opening more super-stores?  They are everywhere already.  So is Apple.  And Ford?  Do you mean Ford Motor Company, the one that posts $5-$6 billion losses every year; the one in Detroit – the city declared bankrupt by US judge Stephen Rhodes two month ago?  You must be kidding!  

And how these companies are going to pay these people?  I can't imagine the execs will let their ballooned compensations to be slashed by 80%.  So, what then?  Everybody, except for a handful of the privileged, will take the same percentage cut to accommodate the unnecessary additions?  Let's make most people equally poor, so that everyone can be "employed" and  bring home something?  Wait a minute!   Didn't somebody already tried this experiment?  Oh, yes, communists in the socialist camp did!  Worked like a charm: destroyed their economies and created hordes of lazy, unmotivated, and unskilled workers!  Welcome to your future, people, courtesy of your elected leader!      

Apple’s iAd Division Celebrates Christmas


Get-attachmentDecember is still with us and so are the corporate X-mas parties. The holiday cheer is inescapable for the dogged blogger like me.

Did you know that large public corporations, with their in-house event planners working schedules way in advance, always manage to have their parties as close to Christmas Day as possible? I guess it signifies how "family-like" those organizations are.

Apple's latest branching out child, the iAd division, held its party just six days before Christmas – on Monday, December 19th. Constructed out of the body parts of a mobile advertising start-up Quattro Wireless, acquired by the maker of iPhones and iPads in 2010, iAd was not moved to Apple Campus in Cupertino, CA. Instead, it stayed in the advertising capital of the world – New York City, albeit swapping the original small office in SoHo for a 45,000 square-foot expanse on Fifth Avenue at Union Square.

Everything needs to project an intended image! And so, they celebrated the traditional combination of year-end holidays in a semi-trendy restaurant in Chelsey, which is themed to alleviate nostalgic pangs of transplants from more humble regions of the US, while entertaining other patrons with a taste of Americana not found on the streets of Manhattan.

The spirit-lifting intent, customarily reserved for such parties, acquired a somewhat militant hue as iAd's execs came to the microphone, each with his own discourse on the same topic: "They all want to see us fail! But we will show them! We'll distroy them all!" Underneath all that bravado, however, there were unmistakable notes of fear. It's understandable, of course. iAd is locked in severe competition with Google for the $630 million market of ads streaming through smart phones directly into the sensory system of general public, incapable of ungluing itself from the beloved devices. The things are not going too well, though.

Apple first lost the edge when it couldn't outbid Google in acquisition of AdMob and had to settle for Quattro Wireless as a less desirable second choice. Advertisers have already rejected the original requirement of $1 million minimum commitment, which now has been slashed by more than 50%. And October departure of Quattro Wireless's founder Andy Miller, who originally accepted an Apple's VP position to lead the iAd team, only intensified the apprehension. This is public-company world – everything is about perception. The execs know their plight: today you are a big shot, but if you don't perform, you are out.

Booze and abusive behavior are traditional fear-drowning remedies for insecure males. The former was thoughtfully accommodated by the party organizers via the open-bar arrangement. Most attendees took advantage of the limitless supply; some with an enthusiasm of newborn calves, who need to be taken away from the udder lest they drink themselves to death. There was this one high-echelon specimen (let's call him The Boss's Boss) who was especially determined to stupefy himself, knocking down one gin after another. As he reached a certain condition, the desire to abuse could not be contained.

One of the waitresses serving the party was a remarkably attractive young woman (let's call her The Striking Girl). She had that star quality about her that causes double takes; something Nora Ephron once described as magnetism that makes a man across the room go, "Get me that!" An obvious target for a drunken bully.

He started by shoving a decorative tree onto her as she was passing. "I am pushing bush on bush," he sneered to other men around him. The Striking Girl didn't say anything – he was a customer. She remained poised and diligently went about her job.

You see, the thing about the hospitality industry in New York City is that a significant portion of waiting, bar-tending, catering, etc. staff consists of struggling writers, artists, actors, musicians – the creative hopefuls. Service jobs are usually divided into shifts and one can combine them into a flexible schedule that leaves time to attend to the true calling. The Striking Girl, as it turned out, happened to be an aspiring writer and a filmmaker, with her first short recently accepted to one of the New York's indie festivals. It explained her composure: she prepares herself to dealing with Hollywood and getting her ego bruised on daily basis.

So, she continued being friendly and pleasant to other attendees. When someone spoke with a Russian accent, she mentioned that she was born in St. Petersburg and was brought to New York as a baby by her political-refugee parents. The Boss's Boss, now never far away from her, heard that. "I have a friend," he said, "he just loves banging Russian pussy."

Next time he caught her in the tiny space of the service station. "Did you come to apologize?" she asked calmly. He thrust his drunken mug into her fragile cheek and responded with,"There is no need for apologies. It's that St. Petersburg love, baby."

Hey, I am a middle-aged broad. I know only too well that chivalry is dead, buried, its corpse rotted into dust long time ago. Still, it's shocking that not a single so-called "man" felt an urge to speak up on behalf of the young lady.

Is this the type of culture Apple Inc. cultivates? Of abusively unrestrained bosses and silent yes-men?

I wonder, how the parents of the Striking Girl felt, when they learned of this incident? Is this the type of democracy and liberty we offer here, in the United States of America, now? Any corporate honcho is free to behave like a dirty animal, while everyone else acts as if their mouths taped shut?

By the way, did you know that corporate execs in public companies get stocks as part of their bonuses? Well, I've sold my Apple stock after that party. The thought that my holding on to them may contribute to the further rise of share prices and one day make the Boss's Boss richer made me sick.