Category: Silicon Valley


The Dow Jones closed for the first time ever more than 27,000.

The S&P 500 recorded a record close exceeding 3,000.

The NASDAQ passed 8,000 and has been in and out of record territory.

America’s economy has been growing for 121 months, and the bull market is advancing at a record pace.

The combination of rising markets, nearly 3 percent annualized GDP growth, record low unemployment of 3.7 percent, inflation under 2 percent and interest rates set to decline under 2.25 percent will not last forever … but these factors are here right now.

Three years ago, Gallup projected that 52 percent of Americans own stocks and stock-based mutual funds. That 2016 figure preceded the election of Donald Trump and the corresponding rises in the Dow, S&P 500 and the NASDAQ.

Gallup also recorded that 37 percent of younger Americans under 35 are invested, reflecting overall cautiousness by millennials.

Earth to critics of Capitalism/advocates of Socialism: America’s investor class is not 1 percent, but more than half of all Americans (e.g., 170 million).

Almost DailyBrett is convinced these investor class market participation figures are low, reflecting the residual impact of the 2008 recession. They do not take into account our robust economic expansion, record low unemployment and un pequeno inflation.

In 2007, 65 percent of Americans invested in stocks and stock-based mutual funds. Your author will take the “over” that market participation number has now reached 60 percent, and continues to climb.

Whether they are active or passive investors, these Americans constitute a high-propensity-to-vote investor class. They vote on America’s future (and their own) through their investments mainly of U.S. based large caps.

Will America’s investor class, those who own stocks and/or stock-based mutual funds decide a continued or new direction of the nation?

Some poor souls seem to correlate America’s investors with a Monaco-sized sliver of our population. Woe is to those who do not invest.

Socialism and its media allies assert that those with greater discretionary funds are more prone to invest in markets. Why do they believe this undeniable fact is a revelation?

While some prefer to make a racket protesting before the cameras in the streets, others … millions of others … are quietly investing in living longer, their health care, their children’s education and their happy retirement.

As they say on the airlines: “Put on your own mask, before assisting others.” These Americans with discretionary income have the ability to contribute to charities and donate resources to make America a better place.

With every key stroke on a retail trading site (e.g., Charles Schwab, TD Ameritrade, eTrade) or making another contribution to their personal IRA or their 401K at work, these hard-working Americans are quietly making a stand.

They proudly believe in buying low and selling high. They have the economic freedom to earn a profit.

They are economic freedom loving individuals taking direct control of their futures.

Almost DailyBrett wonders why these good decent hardworking overachievers are being vilified simply by putting their hard-earned, already taxed discretionary dollars to work.

America’s Investor Class is the Salt of the Earth and the Backbone of America, if you don’t mind a few metaphors.

Defending Economic Freedom

Why is “profit” such a dirty word to so many?

Doesn’t profit or bottom line mean a business … can stay in business?

Don’t jobs, opportunities, security and yes, tax revenues, alight from successful enterprises?

And yet Almost DailyBrett is becoming increasingly troubled by the onslaught against America’s investor class, and the war on economic freedom.

As we continue into the “silly season” of American politics, we hear proposals to raise tax rates to 70 percent or more, impose a 2 percent “surcharge” on assets, introduce a 0.1 percent tax on each and every stock, mutual fund and bond trade.

There are those who want to eliminate private health insurance for 180 million, provide taxpayer health care for illegal aliens, introduce an 18 percent Value Added Tax (VAT) to fund Universal Basic Income (UBI) for those who want to play video games all day.

Heaven forbid, but these silly season proposals could become the laws of the land. The more capital that is redistributed by a predatory government is less money for America’s Dreamers, the Investor Class.

Some complain about income inequality, when 73 percent of college graduates (B.A. or above) and 83 percent of advanced degree recipients (M.A., M.S., Ph.D) invest in markets. One can make a compelling argument that education leads to a separation between the haves and have nots of discretionary income and thus, the investor class.

Should we shut off access to education to achieve social justice? Or should we teach students to understand and intelligently invest in markets?

Almost DailyBrett believes we should adopt policies to expand America’s Investor Class and defend Economic Freedom.

The nearly 170 million members of America’s Investor Class are high propensity. They will vote in 2020.

Wonder which party and candidates will earn their votes?

https://news.gallup.com/topic/stocks.aspx

https://news.gallup.com/poll/233699/young-americans-wary-investing-stocks.aspx

https://www.financialsamurai.com/what-percent-of-americans-own-stocks/

https://almostdailybrett.wordpress.com/2019/03/10/my-congressman-wants-to-double-tax-our-retirement/

https://www.foxnews.com/opinion/newt-gingrich-trump-democrats-pelosi-mcgovern

 

 

 

Walking along Berlin’s Tiergarten park trails, one must be wary of stepping in the Hundehaufen.

On virtually any street in the permissive sanctuary city San Francisco, one is hard pressed to avoid encountering Peoplehaufen as well as needles and refuse.

San Francisco has long been a donut with a hole in the middle. The multi-millionaires of Rincon Tower literally must negotiate homeless, druggies and poop droppings to enter and leave their trendy lofty pads. The middle class is nowhere to be found.

Has a stinking pile of human poop replaced the brown bear as California’s mascot?

Is the abandoned high-speed train from nowhere (e.g., Bakersfield) to nowhere (e.g., Merced) become another metaphor for a one-party autocratic state in which so much as gone so wrong, way too fast?

The Golden State with about 12 percent of the country’s population is the “home” to approximately 135,000 homeless or 22 percent of the nation’s total.

For the first time after the 2010 census, California did not gain a new congressional district (electoral vote). After the next census, the Golden State will contract by one congressional district, and actually lose an electoral vote.

Part of the reason is a serious undercount (unreporting undocumented folks) by the state’s population experts. The other reason is people are leaving (net 1 million or 2.5 percent of California’s American resident population outflow in 10 years ending in 2016), accelerating the growing Golden State diaspora.

California will move from 55 to only 54 electoral votes – still the most in the nation – and yet the 40-million person state has less sway over the presidential general election winner.

The blue state is in the bag. Republicans can still raise money in California – The Mother’s Milk of Politics – only to spend it in states that matter (i.e., Wisconsin, Michigan, Pennsylvania, Ohio, Florida).

California can still brag about its fantabulous weather, the software and hardware geeks of Silicon Valley, and how its $3 trillion GDP places California only behind the U.S., China, Japan and Germany in business productivity (not business climate).

The only problem with these assertions is they were all true back in the 1980s, when the author of Almost DailyBrett served for eight years as a chief message developer and spokesperson for California Governor George Deukmejian.

California was a “Great State” with a “Great Governor” back then. You can’t make that assertion today, not even close.

In the following decade, your author served in a similar capacity for Silicon Valley’s largest industry, the microcircuit designers and manufacturers.

Being modest, Almost DailyBrett knows a thing or two about California. Alas your author, similar to so many others is viewing California with great regret across state lines (e.g., no sales tax, lower cost Oregon).

Speaking ex-cathedra, the chances are slim and none – and “Slim” is out of town – that your author will ever again reside in über-congested California with its stratospheric property values, staggering high taxes of every sort imaginable, and intractable problems including rampant homelessness, acute Central Valley poverty, illegal immigration and yes, poop on the streets.

Want to purchase for $840,000 or more a 1,000-square feet fixer-upper 1905-era bungalow with an annual $9,000 property tax bill in God-awful San Jose? Undoubtedly, it is freeway close to your work in bucolic Milpitas five miles away. It will only take 45-minutes to get there.

No Checks. No Balances

“Power tends to corrupt, and absolute power corrupts absolutely.” – John Dalberg-Acton, English politician, historian and writer

California is in dire need of an “Iron Duke.”

Alas, the Duke passed away and undoubtedly resides in heaven. What could he be thinking as he looks down at what was once the greatest state in the nation on his watch, only to see it easily passed by no-state income tax Texas and Florida?

Governor George Deukmejian refused to raise taxes to close a $1.5 billion deficit, a going away gift from his predecessor Jerry Brown. California’s vibrant economy with all Golden State geographies contributing, retired that staggering debt (1980s dollars) in less than one year without demanding taxpayers dig deeper into their wallets.

Next month, California will once again increase its highest gas taxes in the country (an excise tax of $0.473 on top of a $2.25 per gallon state sales tax). The state income tax regime ranges from 1 percent to 13.3 percent. The sales tax in Los Angeles County is (gasp), 10.5 percent.

Believe it or not, San Francisco City County is lower at 8.75 percent.

In 10 days, California with its record $21.5 billion surplus will surpass New Jersey as the state imposing the largest tax burden on its citizens. Something is not working in California. Will another tax, another entitlement, another social engineering scheme save the day?

Similar to other one-party “C” states (i.e., China, Cuba), California needs a loyal opposition, a few brave souls to demand that homo-sapien poop on the streets is not an acceptable representation of what once was, The Golden State.

Heroes are hard to find in Sacramento these days.

Oh heck, let’s just enjoy another California $15 six-pack with 10.5 percent sales tax and mandated deposit fee. Cheers.

https://www.nationalreview.com/2019/06/california-third-world-state-corruption-crime-infrastructure/

https://www.latimes.com/business/la-fi-california-economy-gdp-20180504-story.html

https://www.latimes.com/politics/la-pol-sac-skelton-democrats-census-trump-2020-20180125-story.html

https://lao.ca.gov/laoecontax/article/detail/265

https://almostdailybrett.wordpress.com/2019/04/01/californias-rarefied-air-tax/

“Liberals believe America is not good enough for the world; conservatives believe the world is not good enough for America.” – Washington Post Columnist Charles Krauthammer

“I do think that America was born with a birth defect; it was slavery.” – Stanford Provost Condoleezza Rice

After losing two world wars and killing 6 million Jews during the Holocaust, Germany has been struggling from Zero Hour 1945 to the present with its horrendous history. The Germans have a special word for it – die Vergangenheitsbewältigung — or dealing with this past.

Does this 25-letter-jaw-breaking-compound-noun also apply to the nearly 250-year history of the United States of America?

After listening to so many Baby Boomer colleagues and friends complain about “this country” for years-and-years, who could blame Almost DailyBrett or any other American with a sense of patriotism for thinking that we have to deal with our past? The question is, how?

The sun never set on the British Empire and Britannia indeed ruled the waves. Look at the mess they left to dozens of these former colonies, and yet English is the world’s Lingua Franca. The scoresheet for the United Kingdom over the years is … mixed with a positive lean.

Have Americans ever been perfect? Are we perfect? Will we ever be perfect?

The responses to all three of these questions are the same, and obvious. The answers are, “no.”

Perfection is an impossible standard for any nation to achieve, including the USA.

Is the answer to these fallibilities – slavery, expulsion of Native Americans, Japanese internment camps – to truncate the teaching of American History? Is revisionist history to the downside inevitable?

There is an ongoing – and maybe never ending fight over whether and how Advanced Placement (AP U.S. History) should be taught, and more to the point: The level and extent of negative reinterpretation of American history.

For example, McGraw Hill stepped in deep doo doo when its history books described a migratory path of millions of “workers” from Africa. Err … they were slaves.

A related question has been raised among the 21+ would-be Democratic presidential nominees (i.e., Harris, Booker, Warren, Castro): Should we pay reparations (particularly slavery) to those who were wronged by America?

If so, where do we start? What precedent are we setting? More importantly where do we end? Can we end? Which descendants of those wronged should we pay? How much should we pay?

Should we apologize for being … Americans? Should we stop embracing any and all red, white and blue patriotism?

The Vietnam War Is Over; Get Over It

The helicopters took off from the roof of the U.S. Embassy in South Vietnam on April 30, 1975 or more than 44 years ago, if you are keeping score at home.

There are those who cannot or will not get this unfortunate period of American history out of their systems.

Almost DailyBrett has noted that way too many of these tortured Baby Boomer souls do not like their country, and take issue with America being labeled as an exceptional country.

They point to socialism in Denmark, Norway, Sweden – all monarchies – as “happy little countries,” suggesting America should do the same.

Some of these people actually teach at American universities and schools and harbor reservations (putting it mildly) about the positive side of American history. But wasn’t the first act in U.S. history a rebellion against authority, telling what England’s King George III what he could do with his royal scepter?

Didn’t America fight a bloody Civil War from 1861-1865 to eliminate slavery? Didn’t Abraham Lincoln’s 13th Amendment end slavery once and for all?

And wasn’t it America that played a monumental roll in terms of blood and treasure to end Nazi and Fascist tyranny in Europe and the Pacific?

The United States was the first and to this date the only country to put a man on the moon. It was America, which gave the world Silicon Valley and with its pioneering entrepreneurs with break-through innovations that made the conveniences of our digital world possible.

And let’s not forget that America defeated Communism and made our imperfect world, safer.

Almost DailyBrett championed a bi-partisan action – one can dream – to add Democrat Franklin Delano Roosevelt’s (won World War II) and Republican Ronald Wilson Reagan’s (beat Communism) busts on Mt. Rushmore.

With all due respect, what has Denmark given to the world? Hans Christian Andersen and The Little Mermaid.

If the royalists in Norway, Sweden and Denmark wish to examine their collective navels in the sauna, who are we to stop them? It’s their humble collection of socialist monarchies (not an oxymoron).

Those who don’t like America and never will, have the freedom of movement. Almost DailyBrett will happily visit them in Scandinavia … in the summer.

America can learn from its past. When it comes to America’s over/under, your author will take the “over” in a nanosecond.

The United States of America remains an exceptional nation. No amount of revisionist history can change that fact.

https://nypost.com/2017/01/22/why-schools-have-stopped-teaching-american-history/

https://www.theatlantic.com/education/archive/2015/10/the-history-class-dilemma/411601/

https://www.theatlantic.com/education/archive/2015/02/who-should-decide-how-students-learn-about-americas-past/385928/

https://www.washingtonpost.com/politics/2019/04/12/support-reparations-grow-so-does-pushback-some-black-americans/?utm_term=.427e54c28480

https://www.washingtonpost.com/people/charles-krauthammer/?noredirect=on&utm_term=.4d651db9a0c6

https://thehill.com/homenews/news/332307-condoleezza-rice-says-america-was-born-with-a-birth-defect-slavery

https://almostdailybrett.wordpress.com/2014/11/05/roosevelt-and-reagan-for-rushmore/

”I could say … that I ran a small grocery store on the corner (e.g., State of Arkansas), therefore I extrapolate that into the fact I can run Walmart. That`s not true.” – Ross Perot debating Arkansas Governor Bill Clinton and President George H.W. Bush

Perot labeled Clinton’s 12-year public sector experience as the chief executive of the “Natural State” as “irrelevant.”

The famous 1992 debate exchange reminds Almost DailyBrett of today’s deep-state/elite media practice of automatically and terminally disqualifying anyone aspiring or even holding the presidency – including the present office holder – who does not have public sector experience.

Public sector über alles?

Some have suggested that seven-year South Bend Mayor Peter Buttigieg, 37, is more qualified to run the nation than billionaire entrepreneurs, who build, create breakthrough products, employ thousands and manage global business enterprises.

Let’s see, Mayor Pete’s South Bend has a $368 million city budget, 1,285 employees and 101,168 residents including thousands of Notre Damers who need their garbage picked up and their streets swept.

Okay …

In contrast, the $9.5 billion, The Trump Organization LLC, is the 48th largest privately held company in the world. Trump and his family manage 500 affiliated property development and marketing companies with 22,450 employees operating in 25 countries.

According to the New York Times, Trump’s business has been required to take losses and declare bankruptcy from time to time. Phil Knight in his book, Shoe Dog, recounted how Nike almost went under … nine times.

How’s Trump doing today? How’s Nike doing today?

And then there is Starbucks founder and chairman (political villain) Howard Schultz.

Sorry Howard … you can’t play this (presidential) game either … even though you created and turned Starbucks into the largest coffee roaster in the world. Let’s see … the company reports $24.7 billion in annual revenues, manages than 27,000 stores and hires 277,000 baristas et al. around the globe.

Kathleen Sebelius vs. Jeff Bezos For CIO

All kidding and snickering aside, the political class seemingly would rather hire as its CIO Kathleen Sebelius with her infamous crashing Obamacare website with its pathetic non-working calculator.

Conceivably the alternative would be private sector Amazon with its track record of successfully and accurately processing 1 million digital transactions per hour.

The millionaire Bernie and Elizabeth types rail daily against billionaires (i.e., Trump, Schultz, Knight, Bezos …) and their privately held/publicly traded corporations (i.e., Starbucks, Nike, Amazon), seemingly as the sources of all that is wrong in the world. The Massachusetts senator even talked about breaking up the most successful and useful of these companies.

If digital retail pioneer Amazon was forced to breakup, wouldn’t the company in an aw shucks moment, simply spin-off Amazon Web Services (AWS)? Considering Amazon’s marketing for AWS’ cloud services capability, don’t you suspect Jeff Bezos and company are already thinking about AWS as a separate publicly traded company?

How about the prospect of (NYSE: AWS)? Victory for the government? Victory for investors? Whattyathink Elizabeth?

Wasn’t there a movie actor/union president, who with the exception of a stint in the military, never spent a nanosecond in the public sector and became the governor of the largest state in the union, California?

How did that experiment turn out?

Not only was Ronald Reagan wildly popular in blue state California, he was one of our greatest presidents and the only one to ever hold a union card while serving as the nation’s chief executive.

Which Is More Important: Public or Private?

For Almost DailyBrett, your author served 14 years in the public sector (i.e., California press secretary and Central Washington University assistant professor). The same four-decade career also included 25 years in the private sector (i.e., LSI Logic Corporation, Semiconductor Industry Association, Edelman Public Relations, newspapers).

Which sector was more important in the development of your author’s institutional knowledge base?

Don’t know. Inclined to conclude that both are nice to have, and each is equally important.

http://www.chicagotribune.com/news/ct-xpm-1992-10-20-9204050015-story.html

https://money.cnn.com/2016/12/15/investing/trump-organization-48th-largest-private-company/

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=344985

http://www.city-data.com/city/South-Bend-Indiana.html

https://www.cnn.com/2019/04/13/politics/bernie-sanders-millionaire-book-sales-tax-returns/index.html

 

 

“Not only had @realDonaldTrump become a mass-media juggernaut, but Twitter had for the first time become a primary outlet for the views of a major American politician. With Trump’s election, the transformation was complete: The social network had become the new public square.” – Nicholas Carr, POLITICO

Without a shred of doubt, nothing on this planet drives the media crazier than Twitter use by one Donald John Trump.

Within the friendly confines of 280 characters coupled with the always-on powerful bully pulpit of the presidency, Trump can set the agenda and be a part of any breaking story regardless of subject.

Wait.

Under Agenda Setting Theory, the big masthead media (e.g., New York Times, Washington Post) supposedly establish the agenda about what grateful everyday Americans should be thinking about.

As they say in political circles the big mastheads have been, preempted.

The very dragon they are attempting to slay, is spewing counter-punching fire right back at them any time, all the time.

“Beware of the overnight tweet.” — CNBC NYSE reporter Bob Pisani

Most of the Trump Tweets are … provocative (outrageous?) and thus are newsworthy. The ensuing conversation is about Trump, always about Trump.

Does the sun ever set on Donald Trump’s Twitter account?

With the Müller Report destined to be a non-factor by the end of this year – let alone next year – the media/entertainment elites in Manhattan, within the confines of the Beltway and Hollywood are facing the prospect of a re-elected Twittering Trump.

Columbia Journalism Review worries about whether journalists are correcting all of Trump’s tweets and statements.

Will they eventually interrupt Trump during the State of Union, the same way MSNBC’s Brian Williams cut off Senator Lindsey Graham?

When it comes to always telling the truth, nobody does it better than Brian Williams.

Will the media at some point — kicking and screaming — be forced to stop pretending the no-further indictments/actions Müller Report is the death knell of a president they detest (putting it mildly)?

Even though they torched Joe Biden’s last days as a non-candidate, will they line up behind him if he somehow captures the Democratic nomination?

Whoever emerges as the Demo nominee, will be their standard bearer.

The Never-Ending, Always-On News Cycle

Campaigns are not happy places.

Familiarity always breeds more than contempt.

Sleep is a precious commodity, and there is never enough to go around.

There was a time when there was only one news cycle per day.

As Almost DailyBrett commented two years ago, White House “death watch” is not what it used to be. Translated: Reporters stationed in the White House briefing room while the president sleeps were Journalism’s answer to graveyard shift. No more.

Trump’s nocturnal tweets (does he ever sleep?) have changed the game. Just ask Wall Street.

Every campaign in the 2020 cycle will have to compete effectively in a digital-is-eternal atmosphere with a minimum of sleep. With digital social media – particularly Twitter – every campaign and every media outlet is an always-on, 24-7-365 wire service.

Trump tweeted (fill in the blank). Respond within the fewest nanoseconds possible.

Biden tweeted (fill in the blank). Democratic rivals answer within the fewest nanoseconds possible.

Bernie tweeted what? Man or Woman the Twitter barricades!

Almost DailyBrett remembers the days when wise pundits (oxymoron?) lamented about how policy debates were being reduced to 30-second bites.

How about 280-character tweets? Used to be 140 characters.

With more than 20+ would be Democratic nominees, how many pithy responses will immediately jump from their keyboards. More to the point how many mistakes, which can’t be recalled, will emerge from these Twitter accounts?

“Fatigue makes cowards of us all.” – Vince Lombardi

Even though early Baby Boomer Trump is 72-years-young, he seems to have the energy and stamina to keep the Twitter stream coming, even accelerating and intensifying the flow. There are no signs of fatigue.

Will the next president (or the same president) be the one who best utilizes the Twitter characters? Should social media be the penultimate factor in determining who will be the leader of the free world?

Let the Twitter debate commence.

https://www.politico.com/magazine/story/2018/01/26/donald-trump-twitter-addiction-216530

https://www.cjr.org/covering_trump/twitter-media-trump.php

https://almostdailybrett.wordpress.com/2017/10/16/death-watch-aint-what-it-used-to-be/

A “memorable” $211,703 Porsche or Land Rover?

A “visible” $86,423 Rolex?

And let’s not forget the applicable taxes on these two giveaways: $179,977 and $38,005 respectively.

For those scoring at home, Salesforce.com (NYSE:CRM) provided $516,108 in goodies to one man: newly minted co-CEO Keith Block, 57.

The Salesforce.com Compensation Committee justified the corporate largesse in its proxy statement filing:

“In this case, the committee approved this award because it believed that recognizing Mr. Block’s leadership and success in achieving company goals was warranted, and that doing so in a memorable and visible way would be motivational not only for the executive, but for other employees who observe exceptional performance being rewarded in exceptional ways consistent with the company’s philosophy of paying for performance.”

Paying for exceptional performance?

Does Block walk on water? Does he change water into wine? Does he dole out loaves and fishes to feed the hungry?

Before being named co-CEO last August, Block was already earning $2.3 million annually in salary and bonuses (not including stock option exercises) as the company’s vice chairman, president and chief operating officer.

Almost DailyBrett extensively researched and taught the relationship between fiduciary responsibility (doing well) and corporate social responsibility (doing good) as a master’s student at University of Oregon and later as a PR professor at Central Washington University.

Your author also served as the director of Corporate Public Relations for LSI Logic (NYSE: LSI) for a decade including preparing 10-Q, 10-K and 8-K news releases and regulatory filings for financial media and the SEC.

More to the point, Almost DailyBrett is a long-time Republican, free-enterprise supporter, and up-to-now a more than satisfied shareholder of Salesforce.com founded by fellow USC alum Marc Benioff.

Let’s state here and now: giving away a cool car and groovy watch (plus paying related income taxes for these two goodies) is inconsistent with Salesforce’s fiduciary responsibility to its shareholders … including not trying to be SaaS-see,  yours truly.

God help the company’s corporate PR department.

Ready to make chicken salad out of chicken feces?

How do you defend the indefensible? How do you stand-up on behalf of the untenable? Did the Compensation Committee discuss its decision with the PR types before giving away a Porsche and a Rolex to Monsieur Block?

And where is Salesforce.com located? San Francisco.

Do you think Bernie, Kamala or Elizabeth supporters residing in the Sodom and Gomorrah by the Bay are going to seize about this outrageous caper as an example about everything wrong with corporate America?

Occupy Salesforce?

Publicly traded corporations (e.g., Salesforce) provide the products we need (e.g., enterprise software), employ millions (e.g., CRM, 29,000) and provide a return on capital to millions investing in their retirement, health care or children’s education.

Buy-side (i.e., mutual funds, retirement systems) and sell-side (i.e. Goldman, JP Morgan, Morgan Stanley) institutions hold 82 percent of Salesforce’s 774 million shares outstanding.

In contrast, Almost DailyBrett is a lowly Charles Schwab retail investor with 300 shares.

If your author threatened to sell all of his shares because he is upset by the Keith Block giveaways, would company even notice, let alone care?

Heck, your author’s holding is a friggin’ corporate rounding error.

Salesforce has demonstrated by its regulatory filing temerity, it really doesn’t take fiscal stewardship and fiduciary responsibility seriously.

Actions speak louder than words. The perception and reality both stink.

No carefully massaged explanation and no amount of corporate social responsibility (CSR) – including calling for local tax increases to take care of the homeless – are going to change the undeniable fact that giving away a luxury car, a costly watch and paying the related taxes for one lousy executive … is wrong.

Dead wrong to be precise.

Almost DailyBrett editor’s note: According to Business Insider, the company did not disclose the exact make or model of Keith Block’s new car and watch. However, an educated guesstimate was made by the digital publication based upon the disclosed sales prices and related tax payments for the two luxury items. If the company actually bought Block a Lamborghini instead of a Porsche, your author will accept personal responsibility for the egregious mistake.

https://www.businessinsider.com/salesforce-ceo-keith-block-car-watch-2019-4

https://www1.salary.com/Keith-Block-Salary-Bonus-Stock-Options-for-SALESFORCE-COM-INC.html

https://www.salesforce.com/company/leadership/bios/bio-block/

https://almostdailybrett.wordpress.com/2011/12/13/fiduciary-responsibility-vs-corporate-social-responsibility/

 

 

 

Governor Newsom Calls for Nation’s First Air Tax On California’s Wealthiest

Proceeds To Fund New Air Quality And Climate Change Programs

April 15 To Become A State Holiday 

SACRAMENTO – Following up on his proposed “digital dividend” levy on data usage, California Governor Gavin Newsom today called upon the state Legislature to approve the nation’s first surcharge on the consumption of air by the Golden State’s wealthiest households.

Privileged Californians with assets (i.e., homes, cars, stocks, mutual funds, bonds, savings accounts, furniture … ) exceeding $500,000 will be assessed an annual surcharge of 1 percent of their total gross wealth. The yearly progressive surcharge will escalate to 2 percent for those with more than $1 million in total assets, eventually capping at 10 percent for those with accumulated wealth exceeding $1 billion or more.

“California’s new Rarefied Air Tax (RAT) is initially projected to raise approximately $3 billion in additional revenues to enhance air quality, combat climate change, and to establish a complementary agency to the California Air Resources Board (CARB),” said Newsom.

“The Golden State is the recognized leader in the usage of progressive revenue schemes to extract and redistribute literally billions from California’s achievers by means of income, sales, property, gas, vehicle, water, corporate, payroll, liquor, and weed taxes and soon a surcharge for those who choose to consume O2.  If the wealthy wish to avoid the Rarefied Air Tax, they can simply opt out of oxygen usage,” Newsom said.

According to the non-partisan Tax Foundation, California has fallen from the top to second in total taxation among states. New Jersey is now #1, California #2 and New York #3.

“We intend to restore our rightful place as the number one state in terms of progressive redistributive taxation,” said Newsom. “The appropriate annual total assets surcharge for O2  usage by those with wealth reaching and exceeding six-seven-eight figures is recognition of their moral obligation to pay their fair share for the rarefied California air they breathe and consume.”

To recognize and celebrate California’s nationwide leadership in taxation, Newsom signed a proclamation declaring that each April 15 (or following Monday if tax day falls on a weekend) as a paid public holiday for all Golden State public employees. Newsom urged the federal government and all other states to follow suit.

Fully anticipating constitutional challenges by mean-spirited, hateful, racist, sexist, homophobic and unpleasant non-profit tax foundations, Newsom called upon the state Department of Justice to prepare a vigorous defense against expected questions about the legality of RAT total asset surcharges for California’s wealthiest … those with assets exceeding $500,000 in riches.

California telegenic governor will hold a news conference in Room 1190 of the State Capitol today at 1 pm PDT to provide more details about the RAT tax. Tax-free air will be provided to all media attending the event.

Following the news conference, Governor Newsom will be available for photographs and to autograph full, medium and wallet-size glossy images of himself for adoring reporters and correspondents.

https://taxfoundation.org/individual-income-taxes-2019-state-business-tax-climate-index/

https://almostdailybrett.wordpress.com/2015/02/08/golden-state-handcuffs/

https://www.foxnews.com/politics/california-goes-tax-wild-eyes-levies-on-everything-from-water-to-tires

 

 

“As for the future in Russia and what will happen there, I can’t say I’m safe. I don’t know.” – Edward Snowden, speaking via internet video last year to a crowd in Austria.

Reportedly, Snowden’s asylum status in Russia is assured until 2020, and then …?

Almost DailyBrett earlier conjectured whether Snowden would be a lowly pawn on Vladimir Putin’s chess board, ready to be traded back to the United States.

The question now must be rhetorically asked … does the US really want him back?

Given the choice of nationally televised show trial or a desultory life in exile, which is the best public relations course of action for the United States when it comes to “whistle blower” Edward Snowden?

Snowden has been Vladimir Putin’s guest since June 24, 2013, or 2,070 Moscow days and nights, if you are scoring at home. Snowden faces up to 30 years in the slam back here for two violations of the U.S. Espionage Act of 1917 … assuming he can be convicted in a court of law.

And if Snowden is actually convicted, what would be the cost in terms on the reputation and image of the United States of America? There are some who see Snowden as some kind of champion … their hero … who will openly root against the U.S. Department of Justice.

Can you think of any celebrity lawyers, who would eagerly defend Snowden in an upcoming epic made-for-television-and-social media trial under the glare of the television lights, cameras and boom microphones?

Mandatory Credit: Photo by Ringo H W Chiu/AP/REX/Shutterstock (9691996n)

After representing porn star Stormy Daniels, the ubiquitous Michael Avenatti … and other reptilian lawyer types just like him … presumably would have zero compunction defending leaker Snowden, maybe even on a pro bono basis.

The question, which would predictably and eventually ensue: Is Snowden on trial or the National Security Agency (NSA)?

A preview of coming attractions would be the 1995 O.J. Simpson trial in which the guilty football stud was acquitted in a court of law, and the Los Angeles Police Department (LAPD) was convicted (in the courtroom of public opinion).

Even though parallels are never perfect, the flight of another traitor to Russia, Kim Philby, brings into the discussion whether it is best of leave the housing, feeding, caring and nurturing of Snowden to warm and fuzzy Vladimir Putin?

Kim Philby Died in Russia. What Will Happen to Snowden?

“How sleepless must be Kim Philby’s nights in Moscow? … How profound he and others like him must be aware that the people they betrayed are going to be the victors in the end.” – President Ronald Reagan

British spy novelist Ben Macintyre in his 2014 best-selling “A Spy Among Friends,” provides nearly exhaustive detail of Philby’s treachery and betrayal of Mother England as he labored as a mole for Russia’s KGB for three decades … at a cost of hundreds of allied agents.

When Kilby finally confessed in his Beirut apartment in 1963, and his words were recorded by Britain’s counterespionage MI6, it seemed relatively easy for the Brits to simply arrest Philby and transport him back to London for the Mother of All Trials … and yet he was able to easily defect to Russia.

Was MI6 lame in carrying out its responsibilities or was it better … for Philby to simply escape into the outstretched arms of the KGB? Philby lived out the rest of his days — even though he once tried to slash his wrists — in numbing exile in Communist Russia until he passed away in 1988 at the age of 76.

Did the Brits suspect that transferring Philby back to London would result in embarrassing courtroom proceedings in which MI6 would also be on trial? Maybe it would be less painful, if the Soviet Union used Philby for propaganda purposes, which is actually what transpired.

Snowden, 35, will celebrate his sixth anniversary in Russia on June 24. If the American whistle-blower reaches Philby’s final birthday at 76-years-young, the year will be 2060.

What will Snowden say on his 47th anniversary as presumably a citizen of Russia? Will he have anything new to offer? Will he deep down inside miss the opportunity of another Oliver Stone Hollywood epic, complete with his show trial?

Would Alec Baldwin play Snowden?

Maybe he could be buried in the Kremlin Wall with traitor John Reed as played by Warren Beatty in “Reds?”

Or Snowden could join Kim Philby in Moscow’s Kuntsevo Cemetery?

Most of all … will we care?

https://www.washingtontimes.com/news/2018/oct/19/edward-snowden-nsa-leaker-says-hes-not-safe-russia/

https://almostdailybrett.wordpress.com/2017/01/21/has-edward-snowden-become-putins-pawn/

https://almostdailybrett.wordpress.com/2016/02/28/the-coming-presidential-pardon-of-edward-snowden/

https://almostdailybrett.wordpress.com/2013/07/11/pr-advice-for-edward-snowden/

https://www.independent.co.uk/voices/profits-and-losses-of-treachery-victims-of-kim-philbys-betrayals-are-staking-a-claim-to-the-cash-1447065.html

 

 

 

 

 

“Can’t decide whether you are a Democrat or a Republican …”

Bless these two students, who on separate occasions, refreshingly relayed their puzzlement to your author.

Almost DailyBrett does not believe that classrooms should ever be the venue for the indoctrination, let along the formation of young warriors in the fight between noble socialism and evil capitalism.

Gee … maybe … just maybe these students are smart enough to make up their own minds on these issues?

Even though long-time Almost DailyBrett readers and contemporaries know or at least suspect your author’s political predilection, it was rewarding to know at least some of my students weren’t so sure … and that is how it should be for all professors or instructors.

There seems to be a contagious disease among tenure-track or tenured academic types (e.g., professors and instructors) that university students are there to endure for hours on end their personal political pontifications and bloviations.

Is that why students are taking out loans averaging $30,000 each, waiting tables or asking mom and dad to dig deep … real deep … for their college education?

Don’t think so.

Buy Low, Sell High

As Almost DailyBrett fondly looks back to more than five years teaching public relations, integrated marketing, corporate communications and investor relations, one particular moment always brings back tears to the eyes.

More than 30 of my Central Washington University PR students chanted in unison … “Buy Low, Sell High!” … at my retirement party.

Upon receiving the Central Washington University Department of Communication Faculty Spotlight Award, they gathered around me for a group picture. Your author will always remember this moment.

Isn’t Buy Low and Sell High the essence of capitalism, particularly publicly traded corporate capitalism?

The answer is “yes.” Keep in mind that buying low and selling high is easier said than done. More importantly this phrase is the backbone to the practice of fiduciary responsibility on behalf of the 54 percent of Americans investing in stocks and stock-based mutual funds.

America’s investor class — planning for retirements, funding higher education for their children, opening up a new businesses — require accurate and complete communication about a company’s business plan, financials and simply … how does a corporation make money.

The highest expected communications professional compensation levels … usually in six figures … are directed to students adept at financial communications, who are studying at today’s schools of journalism and mass communication.

Almost DailyBrett believes wholeheartedly the purpose of universities/colleges is to prepare students to attain and sustain salaried professional positions with full benefits … and maybe even employee stock purchase plans (ESPP) and/or stock options.

Universities and colleges should be professional schools, providing students with lifelong learning skills and tools to succeed in our increasingly complex digital world … including beating artificial intelligence (AI).

If students wish to Occupy Wall Street that should be their choice, not their command.

By the way, how did that movement work out?

Students should always be fully aware of the imperfections of Capitalism. For example, watching The Smartest Men In The Room (Fortune’s Bethany McLean’s tome on the Enron bankruptcy) was required for each of your author’s Corporate Communications/Investor Relations classes.

In addition to the aforementioned Fiduciary Responsibility, a publicly traded company needs to complement this requirement with Corporate Social Responsibility (CSR). Besides doing well, a company should be mindful of doing good … including giving back to communities, protecting the environment … that make success, possible.

Certainly, students can be taught to live in tents, recite cumbersome theory or rail at the world back in their own bedrooms at mom and dad’s house.

They also can learn how to decipher an income statement, a balance sheet, a cash-flow statement and to understand the significance and formulas associated with market capitalization, earnings per share (EPS), and price/earnings (P/E) ratios and related multiples.

Looking back at your author’s professorship, there is no doubt about political disposition. There was also a comprehension that students are to be prepared for the professional world, and many of these graduates have done well, real well.

And if a couple of students or more, can’t tell whether Almost DailyBrett or any other professor/instructor, drifts left or right that’s the way … it should be.

 

 

 

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