Tag Archive: Lamborghini


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/

 

 

 

“There are 47 percent who are with him (Obama), who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you name it. These are people who pay no income tax.” – 2012 Republican nominee Mitt Romney caught on a planted Mother Jones videoromney47

“I want a Lamborghini.” – Mary Gatter, Planned Parenthood Pasadena and San Gabriel Valley medical director, caught on a planted Center for Medical Progress video.

Hall of Fame football coach and legendary commentator on CBS, ABC, NBC and Fox for three decades, John Madden, was asked on KCBS-Radio what was one of key reasons for his unprecedented run on four major networks:

“Never say in private, what you wouldn’t say in public.”

Also remember that allegations make headlines; rebuttals are buried in the story.

Saying that you were quoted out of context is weak, defensive and sounds lame.

How about not making inexpedient or arrogant comments in the first place?

How about assuming that you are always on-the-record regardless of where, when, what, why, how and to whom you are speaking?

The cameras are everywhere. The microphones are ubiquitous. And soon the drones will be swooping in. And thanks to Gordon Moore’s Law (e.g., the number of transistors on a piece of silicon real estate doubles every 18-24 months), ever more complexity can be packed into smaller and more powerful than ever before devices using a fraction of the power as in the past.

Think of it as the serendipity of the consumer electronics business.

The Cameras are Everywhere

The Mother Jones hidden video of Romney’s 47 percent remark, made to a supposedly private meeting with wealthy donors, immediately fed to the growing perception of the former Massachusetts governor as a heartless plutocrat. Whether that image was real or not, really didn’t matter at that point … the damage was done.

The Center for Medical Progress hidden video of Planned Parenthood’s Gatter discussing the dollars-and-cents pricing of tiny body parts of aborted fetuses over salad and wine in a tony Pasadena (CA) restaurant, ended with her visions of an Italian sports car. She inadvertently put Planned Parenthood’s $542 million in federal subventions into the crosshairs of a Republican-controlled Congress.Lamborghini

Think of it this way: a Mother Jones planted video came from the left side of the political spectrum and a Center for Medical Progress planted video came from the right side of the political spectrum. As Mary Matalin once said: “Politics is a contact sport.”

At the same time, publicly traded technology companies, such as GoPro (NASDAQ: GPRO) and others, are pioneering ever-smaller, more reliable cameras with excellent sound pickup, which are available for reasonable prices. Top it off, uploading these videos and having them go viral is easier than ever.

Digital is Eternal.

The candidates for the presidency and everyone else serving as the FrontMann/Frau(lein) or mouthpiece for any political sensitive organization or profitable business is now on record: No conversation is harmless. You should trust no one. Should you be a tad paranoid? Hello!

Take a mundane chore, such as Hillary Clinton heading off to Bergdorf Goodman on New York’s Fifth Avenue for a $600 haircut at the John Barrett Salon. Reportedly, her entourage closed down one side of the store on a Friday and marshalled a private elevator so the inevitable nominee could have her hair done.

July 26, 2015 - Ames, Iowa, U.S. -  HILLARY CLINTON speaks during an organizing event at the Iowa State University Alumni Center .(Credit Image: © Brian Cahn via ZUMA Wire)

July 26, 2015 – Ames, Iowa, U.S. – HILLARY CLINTON speaks during an organizing event at the Iowa State University Alumni Center .(Credit Image: © Brian Cahn via ZUMA Wire)

Does this $600 haircut square with championing the needs of the struggling middle class? Or does it add to the notion of privilege?

Once again in our Twitterverse, second-screen world, everything and anything is in play. Nothing is off-the-record. Literally anything is discoverable. Have we lost to a large degree our privacy? Yes, we have.

Thirty years ago, we were all told to be wary of anything that you wrote down or typed because scary Xerox machines existed. Your ill-advised words could be copied and delivered to a non-friendly reporter, looking for “good dirt,” in a plain-white envelope.

Life was so innocent back then.

Today is so different. Who would have thought that munching on an overpriced salad, sipping nice wine, while dreaming of a nice car with the top down, could be so dangerous to the political and economic health of your organization and/or campaign?madden

Once again contemplate the wise words of John Madden: “Never say in private, what you wouldn’t say in public.”

https://www.washingtonpost.com/opinions/the-barbarity-of-a-nation/2015/07/31/344f5140-36eb-11e5-9739-170df8af8eb9_story.html?wpisrc=nl_opinions&wpmm=1

https://www.washingtonpost.com/opinions/the-price-of-fetal-parts/2015/07/23/13cb5668-316d-11e5-8353-1215475949f4_story.html

http://www.washingtonpost.com/news/post-nation/wp/2015/07/21/antiabortion-group-releases-second-planned-parenthood-video/

http://pagesix.com/2015/07/28/hillary-clintons-600-haircut-puts-bergdorf-on-lockdown/

http://www.washingtonpost.com/politics/decision2012/leaked-videos-show-romney-dismissing-obama-supporters-as-entitled-victims/2012/09/17/5d49ca96-0113-11e2-b260-32f4a8db9b7e_story.html?hpid=z2

http://www.biography.com/people/john-madden-9542594

http://gopro.com/

http://www.foxnews.com/politics/2013/01/08/planned-parenthood-receives-record-amount-taxpayer-support/

 

 

 

 

 

 

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