Tag Archive: LSI Logic


“I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.” Yahoo! CEO Marissa Mayer in her July 25 employee letter announcing Verizon’s $4.8 billion cash acquisition of Yahoo!

What next chapter?mayerbook

Want to take an Internet pioneer, first-mover $125 billion company and transform it into an also-ran, acquisition target for four pennies on the dollar?

And to top it off, reward Yahoo! chief executive officer Marissa Mayer with more than $50 million in severance pay?

Wonder why so many are so upset with Wall Street?

What is it with high-accolade, lofty-expectations, lavaliere-strutting narcissistic chief executives, who are ostensibly hired to reverse the fortunes of struggling companies?

Much later, we all discover their real personal agenda was to simply put the corporation on the auction block, and to get paid handsomely for the privilege.

Where can I sign up for this lucrative gig?

The author of Almost DailyBrett will gladly say all the right things for a few years, bloviate at a few “developer” conferences, CES, SXSW and TED Talks and then when no one is looking, sell the company to the highest of low bidders and get rewarded for creating … nothing, absolutely nothing.

Hold That Horizontal Pose!

Alas, one thing your author will never be asked to do is pose for Vogue. Sorry, I don’t own a Michael Kors dress … and never will.mayer

Almost DailyBrett three years ago questioned why relatively new Yahoo! CEO Mayer would accept Vogue’s invitation for a horizontal spread in a fashion magazine? Was she trying to impress buy-side and sell-side institutional investors?

Women have long and justifiably complained about being objectified. What was telegenic Mayer doing with her Vogue reclining pose?

What did her PR team think about her proving once again that sex sells? Did her photo draw even more eyeballs to rival Google’s market-leading search engine?

Before you start thinking that Almost DailyBrett is solely focusing on the lucrative PR disaster record of one Marissa Mayer, please consider that many are still smarting over how Abhi Talwalkar drove LSI Logic into the ditch and received at least a $5.74 million severance payment for burying the company.abhi1

Your author served as the director of Corporate Public Relations for LSI Logic. Even though I left after 10 years to join Edelman Public Relations in December 2005, one could already see what Abhi had in mind … shed as many assets as quickly as possible to make the company more attractive to buyers.

As Almost DailyBrett previously reported, LSI Logic was the innovator of the application specific integrated circuit (ASIC) specialty semiconductor market for nearly 25 years under the leadership of founder Wilfred J. Corrigan.

It took Abhi less than nine years to end its existence, eventually accepting Avago Technologies (H-P’s former semiconductor business) for $6.6 billion offer in late 2013. LSI Logic is no more, but Abhi’s contract provided for the following:

  1. In the case of our Chief Executive Officer, a lump sum payment equal to 2.75 times his or her base salary and average bonus received over the preceding three years. In the case of a participant other than our Chief Executive Officer, a lump sum payment equal to two times the individual’s base salary and average bonus received over the preceding three years. 2. Full acceleration of all unvested equity awards. 3. Reimbursement of COBRA premiums for health insurance for 18 months. 4. In the event that a participant’s “parachute payments” are subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, then LSI will make a supplemental payment to the participant in an amount that equals the excise tax on the parachute payments, plus any additional excise tax and federal, state and local and employment income taxes, on the supplemental payment. However, the total supplemental payment shall not exceed the sum of the participant’s (i) base salary immediately prior to the change in control, and (ii) target bonus for the year in which the change in control occurs.

Glad to see the “supplemental payment” would not exceed Abhi’s $2.09 million annual salary. Enough is enough … Right?

It’s even better that Vogue didn’t ask Abhi to pose horizontally in a Michael Kors dress.

His severance was obscene enough.

http://fortune.com/2016/04/19/verizon-yahoo/

http://www.forbes.com/sites/briansolomon/2016/07/25/yahoo-sells-to-verizon-for-5-billion-marissa-mayer/#7b9c799b71b4

http://www.forbes.com/sites/briansolomon/2016/07/25/here-is-marissa-mayers-final-letter-to-yahoo-employees/#54a12ae875ba

https://almostdailybrett.wordpress.com/2013/08/18/mayer-vogue-nasdaq-yhoo/

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

http://dealbook.nytimes.com/2013/12/16/avago-to-buy-lsi-for-6-6-billion/?_r=0

 

 

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Invested in Oregon football season tickets 27 years ago, and also seats for the Oregon Symphony Orchestra.

Whatever happened to those yawn-a-minute classical music tickets?

Reflecting on the purchase of Oregon season seats and directly related contributions to the Duck Athletic Fund, the author of Almost DailyBrett can categorically state: My life has been totally transformed partly as a result: super spouse, college professorship, advanced degree and even a little Valley Fever to build a little character.kevinatoregon

Never conceived even for a nanosecond or two that my two humble tickets in Section 33, Row 15, Seats 7-8 near the 30-yard line at Autzen Stadium could mean so much.

When I ordered the season tix, there were only 12,000 brave Oregon season ticket holders. There was an alumni tent in the gravel parking lot. The average crowd was about 25,000, and the mean, hateful, despicable Don James-era Washington Huskies ruled the Pacific Northwest, if not the Pac-10 Conference.

Today, there are more than 42,000 season ticket holders for the always packed friendly confines of Autzen Stadium, where it never rains. The Ducks have beaten the Huskies a series-record (and counting) 12 straight times.

Back in 1990 the Ducks were … the Ducks. They were always a tad above mediocre. Bill Musgrave was the quarterback, surrounded by decent talent. Oregon went 8-4, including a landmark upset of Ty Detmer’s No. 4 BYU Cougars, but lost in the frickin’ Freedom Bowl.

The author of Almost DailyBrett was determined back then, he did not want to go to the Pearly Gates without once watching the Ducks in the Rose Bowl. Oregon was predicted for 10th in the Pac-10 in 1994. And then there was the magical October 22 game against Washington in Autzen Stadium.wheaton

For a few seconds, it seemed that time stood still: “Kenny Wheaton is going to score. Kenny Wheaton is going to score …

The band was playing “Mighty Oregon” on the floor of the Rose Bowl on January 2, 1995. There was not a dry eye on the Oregon side of The Granddaddy of Them All. We lost that day, wearing Champion jerseys and pants in uniforms that would make the Green Bay Packers proud.

Uncle Phil was not on the sidelines. That would soon change.

Akili, Joey, Kellen and Dennis …

Some of the greatest to ever play quarterback for Oregon starred during the Mike Bellotti era (116-57) including Akili Smith, Joey Harrington, Kellen Clemens and Dennis Dixon. They handed the ball off to Reuben Droughns, Maurice Morris and Jonathan Stewart. The likes of Haloti Ngata plugged up the middle on defense.

The big moment during the Bellotti tenure was blowing out Colorado 38-16 in the 2002 Fiesta Bowl (we should have been in the Rose Bowl) to finish No. 2 in the country at 11-1.joeyharrington

The author of Almost Daily Brett worked for LSI Logic and Edelman Public Relations during this era and would make frequent trips to Eugene and to road games (e.g., Michigan Big House in 2007) from Silicon Valley – all for the love of Oregon football.

Unfortunately, breathing in the Valley Fever fungus before Oregon’s tight win over Fresno State in Fresno almost led to curtains. Never thought that going to a Duck game could be so deadly to my health. Fought the little Valley Fever bugger to a standstill and dodged prostate cancer as well. The net result: The Chip Kelly era of Oregon football, matrimony, an advanced degree and a second career.

LaMichael, Kenyon, DeAnthony, Darron, Jeanne …

Headed up to Eugene during Chip Kelly’s first year for a game against Cal. Went to more than a football game that fall day in 2009. Stopped off at the University of Oregon School of Journalism and Communication.

Could I be a college teacher? Sure, take the GRE, apply for a fellowship, serve as a TA and devote 15 months of my life to earning a Master of Arts degree.

All the rest is history.

Oh BTW, Oregon went 46-7 in Chip’s four years including a trip to the “Natty,” a thrilling win over Wisconsin in the Rose Bowl with a high-speed, spread offense that revolutionized football.

Uncle Phil was stepping up big time with the Moshofsky Indoor Practice facility (no more alumni tent in the gravel parking lot), an academic support center for athletes and an incredible football complex.DSC01377

Landed an emergency adjunct instructor position at Oregon, which led to a July 4, 2012 Match.com date with a fantabulous Fraulein by the name of Jeanne. She is now Jeanne Brett.

Heisman Marcus; Rose Bowl Blowout

Nearing the end of my sixth decade on the planet, my UO advanced degree, teaching experience and my extensive background made me competitive for a tenure-track assistant professorship in public relations and advertising.marcusrosebowl

The drive from Ellensburg’s Central Washington University to Oregon’s Autzen Stadium is about six hours. It has been worth every minute as the Ducks continued to overachieve under Mark Helfrich (33-8). Marcus Mariota won the Heisman, and easily outdueled Jameis Winston in the Jan. 1, 2015 Rose Bowl, 59-20.

The Ducks have come a long way from the days when yours truly wondered if they would ever play in Pasadena on New Year’s Day, let alone twice competing for the national championship.

If you are scoring at home, Oregon is 226-100 ever since your author bought his season seats in 1990. The Ducks have won seven conference championships, went to two national championship games, played in four Rose Bowls, winning the last two, and two Fiesta Bowls, winning both. All-in-all, the Ducks have been to 23 bowls during this time.

More importantly, the tickets have been so much more than precious pieces of cardboard with bar codes. They have represented new love (e.g., Jeanne), a challenge (e.g., Valley Fever), an intellectual achievement (e.g. M.A. degree); valuable teaching experience (e.g., adjunct instructor): and a new career as a professor and mentor (e.g., assistant professor).

All-in-all, I am One Ducky Dude. Can hardly wait for fall.

https://www.youtube.com/watch?v=XqlcRAZfRHc

https://www.youtube.com/watch?v=SYt2GDh9PgU

https://almostdailybrett.wordpress.com/2015/04/01/washington-cancels-oct-17-game-against-oregon/

https://almostdailybrett.wordpress.com/2012/08/16/rooting-for-oregon-before-it-was-cool/

https://almostdailybrett.wordpress.com/2015/11/30/the-world-through-corvallis-eyes/

https://almostdailybrett.wordpress.com/2013/07/09/the-right-woman/

https://almostdailybrett.wordpress.com/2011/10/25/prostate-cancer-a-piece-of-cake-compared-to-valley-fever/

https://almostdailybrett.wordpress.com/2016/05/08/from-press-secretary-to-professor/

https://almostdailybrett.wordpress.com/2014/03/04/launching-a-second-career-2/

https://almostdailybrett.wordpress.com/2015/01/04/give-some-credit-to-rich-brooks/

https://almostdailybrett.wordpress.com/2012/02/26/ducks-vs-dawgs-to-end-the-season/

 

 

 

“A slave stood behind the conqueror holding a golden crown and whispering in his ear a warning: that all glory is fleeting.” – General George S. Patton

A happy problem, but still a dilemma, for organizations/movements/great leaders, who have just achieved long-sought landmark accomplishments, is: What will you do for an encore?

For championship college and professional sports teams the answer is relatively easy to state, harder to achieve: repeat. The Chicago Blackhawks are tasked with skating the Stanley Cup for the fourth time in seven seasons next spring. The Golden State Warriors are faced with the challenge of winning back-to-back NBA titles, something that has never occurred in the franchise’s mostly desultory history.

[UNVERIFIED CONTENT] Gay-rights activists gathered outside of the Supreme Court on the morning when the Court handed down its decision to overturn the Defense of Marriage Act.

[UNVERIFIED CONTENT] Gay-rights activists gathered outside of the Supreme Court on the morning when the Court handed down its decision to overturn the Defense of Marriage Act.

For the same-sex marriage movement the June 26 Supreme Court ruling, legalizing the right of gay people to marry, was made by a razor-thin 5-4 Obergefell v. Hodges decision. The impact nonetheless was 50-0 as every state is immediately and permanently required to permit the performing of same-sex unions, and to recognize their legality regardless of where or how (e.g., civil, religious) they occur.

The next question, which has already been posed by The New York Times and others, for the successful civil rights campaign, is what comes next? The answer will come in the form of celebrating a great political and society victory (e.g., Pride Parades). Eventually, the cheering will subside and the reality of everyday life and the challenge of American politics returns. Now what? Certainly, there is the continued necessity of protecting hard-earned rights and preventing discrimination, and that makes sense; still the question must be posed:

What comes next?

This is an easy question to pose, much more difficult to answer … and with it, the dilemma that has vexed organizations, movements and great characters throughout the course of history.

“One Small Step for Man; One Giant Leap for Mankind”

Let’s face it: NASA has not been the same since 1969.armstrongmoon

Neil Armstrong defied death, and made it to-and-from the moon with far less computing power than can be found in a modern-day smart phone. The first man on the moon had his ticker tape parade upon returning to Mother Earth. His place in the history books is cemented. Undoubtedly, his obits had already been written by the day the Grim Reaper came-a-calling in 2012.

In the face of competing budgetary demands and $18 trillion in record red ink and counting at $3.3 billion per day at the federal level, NASA has become just another agency with a huge public relations problem as it must justify its existence in the absence of any realistic plans to put humans on other planets anytime soon.

The current edition of National Geographic has a cover story about NASA, the New Horizons spacecraft, and hopefully the first ever photos of Pluto, expected on July 14. Checking out the last planet of the solar system is cool, but Armstrong walking on the moon was legendary.

Gone are the days of John F. Kennedy and the Cold War competition and the call to put a man on the moon by the end of the 1960s. Yes, we won that technology contest against the Soviet Union, and just 22 years after Armstrong walked on the moon, the USSR collapsed. Russia has hardly bothered us since then.

Not as momentous as the Supreme Court’s landmark decision on same-sex marriage or Neil Armstrong walking on the moon was an accomplishment dear to the heat of the author of Almost DailyBrett: The opening of the long closed Japan market to foreign designed-and-manufactured semiconductors, including those originating from Silicon Valley.siliconwafer

In my tenure as the director of communications for the Semiconductor Industry Association (SIA) and later as the director of corporate public relations for LSI Logic, yours truly worked for three years on this contentious issue.

At one time, Japan was in its ascendancy having driven Intel Corporation out of the DRAM (dynamic random access memory) market, a technology Intel actually invented. The U.S. semiconductor industry was being ushered into oblivion in the 1980s by Japan Inc.’s “Business is War” practices, the same fate that fell upon America’s pioneering color-TV industry.

The SIA and its members worked with Washington D.C. to stop predatory pricing or dumping of Japanese chips below cost, and finally pried open the Japanese market in 1996. The opening of  Japan and the decades-long recession eased the Japanese competitive threat. The U.S. industry achieved a great victory, but then … you guessed it … the question ensued: What was next for the SIA and its members?

Just like NASA, the SIA has tried one gambit after another to recapture its sense of purpose. The problem is that without an overriding issue (e.g., man on the moon, opening the Japan market), organizations and even individuals (e.g., General Patton when World War II ended) in many cases are never the same again.pattonscott

The war has been won. The cheering has subsided. The reality of what have you done lately ensues. An organization’s, movement’s, leader’s raison d’etre is no longer certain. A new public relations challenge comes to the forefront with no easy answers.

Some organizations, movements and leaders have successfully met the challenge of victory, while others face internal dissension as they struggle to come up with an answer to precisely what they should do for Act II.

http://www.washingtonpost.com/politics/gay-marriage-and-other-major-rulings-at-the-supreme-court/2015/06/25/ef75a120-1b6d-11e5-bd7f-4611a60dd8e5_story.html?wpisrc=nl_evening&wpmm=1

http://www.nytimes.com/2015/06/28/us/gay-rights-leaders-push-for-federal-civil-rights-protections.html?smprod=nytcore-ipad&smid=nytcore-ipad-share&_r=0

http://www.biography.com/people/neil-armstrong-9188943

http://www.goodreads.com/quotes/632929-for-over-a-thousand-years-roman-conquerors-returning-from-the

 

 

 

“Bulls make money, bears make money, pigs get slaughtered.” – CNBC Mad Money host Jim Cramercramerpigs

Which decision requires more mental gymnastics?

When to buy?

When to sell?

The author of Almost DailyBrett humbly opines that when to sell is the tougher call.

Why?

There are two kinds of remorse: ‘Darn it the stock kept going up after I sold’; and the worse one, ‘I could have sold when the stock was up, but I was a pig … and oh fiddlesticks, now I am selling when the stock is down.’

Yep, there are a lot of potential could-of, would-of, should-of when it comes to selling.

So what should you do in the view of this humble retail investor (read: Charles Schwab account)?

Don’t Fall in Love

“…Sometimes the most obvious question really is the question. In Enron’s case: How do you make money? – Bethany McLean, Fortune Magazine

Preparing to teach Corporate Public Relations/Investor Relations to Central Washington University seniors and a few juniors starting this coming Wednesday, yours truly will pose the same simple question that Fortune’s McLean posed to Enron’s Jeffrey Skilling: “How do you (Enron) make money?”

Communicators need to have elevator pitches at their ready when asked this very same straightforward question about their own employer. The same is true for investors: How does a company make money? If the answer is clear; you like the company; you understand the business strategy; you have done your homework including consulting with your financial advisor, then it may be time to purchase shares of the company stock.bullandbear

This particular company’s stock is now part of your diversified portfolio, which in turn represents a portion of your retirement savings, a child’s college education, that dream vacation etc.

All is good, but when does it make sense to sell?

Buy and hold is a sure loser. Why? At some point, stocks will stop growing. Your invested company certainly will change, and not necessarily for the better. Circumstances may shift and a wave of caca may hit a company or an industry.

Remember the Internet bubble two decades ago? It burst.

Remember the housing bubble a decade ago. It burst.

Don’t fall in love with your securities. Follow your instinct and your plan. When it is time to pull the trigger and unload the stock, then sell the shares.

Have a Plan

“I love the company. I hate the stock.” – Jim Cramer on Tesla (NASDAQ: TSLA)

Okay, it’s time to confess: I fell in love with the Elon Musk Ion-Lithium Battery/Electric Car story at Tesla. Yes, I bought the stock and road it up and down (pardon the pun) and eventually got tired of the downward roller coaster.muskcar

Before I weighed selling, I considered at what average price point did I buy the stock and how low would it have to go before I would sell the stock? It hit that point, and it was time to sell.

Maybe at some future time, it will be low enough to once again purchase the stock, but only when one is convinced the company has a realistic plan for long-term profitability.

The same is true when selling a stock that is going up. Social media stock LinkedIn (NYSE: LNKD) recorded a blow-out quarter and the stock exceeded my prearranged sell price point. As Joseph Kennedy reportedly said: “Never apologize when taking a profit.”

And we should never worry about paying taxes on our profits; profits are taxable.

The point here is to follow your game plan and sell when it’s time. That’s a good thing, really.

What are some other signs that it is time to sell a stock?

  • The Music Stopped: Once upon a time, Intel (e.g., microprocessors), Microsoft (e.g., software operating systems) and Cisco (e.g., Internet routers and switches) were literally rocking and rolling. We couldn’t get enough of these stocks until … the music stopped. The PC is yesterday’s news. The 1990s came and went. It became time to sell and move on.
  • Commoditization: Just like Intel’s microprocessors became a commodity to serve as the brains of social, mobile and cloud, the same is true for all other semiconductors and those that build semiconductor manufacturing equipment and electronic design automation (EDA) software. Intel’s rumored takeover of Altera, similar to Avago’s absorption of LSI Corporation, are more signs of industry consolidation. If you have not sold already, it’s past time.
  • High Volatility: Sometimes an investor can benefit from a highly volatile stock. A perfect example is Salesforce.com (NYSE: CRM). Lost track of how many times, yours truly has bought, sold, bought, sold, bought … this stock. As long as the trend line is consistently up, it’s okay to let go of the shares now and then, only to become reacquainted at a later date.
  • New Management: Tim Cook is proving that there is life at Apple following the ultimate demise of Steve Jobs, but that is the exception not the rule. Companies change. Business plans shift. Circumstances change. Markets explode or implode. Almost DailyBrett has always followed the mantra that if the old boss or new boss is a bosshole, it’s time to pass on the stock or sell the stock. Translated: Stay away from Larry Ellison and Oracle (NASDAQ: ORCL)
  • No Balance Between Fiduciary and Corporate Social Responsibility: The best run publicly traded companies do NOT see “doing well” and “doing good” as being mutually exclusive. Publicly traded companies with their brands under a digital 21st. Century microscope must appreciate their respective brands are trading in the cloud 24/7/365. Worshipping exclusively at the altar of fiduciary responsibility will no longer cut it. If so, it’s time to sell.
  • Caca Happens: Planes land at the wrong airports (e.g., Southwest). Companies name shoes (e.g., Umbro) after the cyanide gas used in Nazi concentration camps. The CEO falls dead in the backseat of a car (e.g., Texas Instruments). Oil wells explode and gush on global video for three months (e.g., BP). Guano hits the fan. This is precisely the reason not to fall in love with any stock.

Sometimes, it is time to say goodbye.

Breaking up is hard to do.

http://www.thestreet.com/story/10292084/1/bulls-bears-make-money-pigs-get-slaughtered.html

http://en.wikipedia.org/wiki/Joseph_P._Kennedy,_Sr.

https://almostdailybrett.wordpress.com/2011/07/21/what-happens-when-the-music-stops/

https://almostdailybrett.wordpress.com/2013/10/06/how-does-a-company-make-money-2/

https://almostdailybrett.wordpress.com/2014/07/18/donate-to-united-way-or-invest-in-tesla/

http://finance.yahoo.com/video/cramers-stop-trading-tesla-motors-135400997.html

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

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

 

 

 

 

 

 

Meet the baby of the family, the unexpected/unplanned baby of the family.

This coming Saturday, Pi Day, the mathematically inept, right-brained baby will “celebrate” the successful navigation of 60 years on the planet, and look forward to hopefully plenty more.kmb2

Much has changed since the decade of Ike, Elvis, Disneyland, Sputnik, U2 (not the band) and “Senator, have you no sense of decency?”

The author of Almost DailyBrett has always been a tad vertically challenged; in time became follicly challenged, and still vows to never-ever be horizontally challenged. Looking forward to Saturday’s cross-training with Nike+, charting the results.

Tempted to mimic a lyric, “Oh, what a long, strange trip it has been,” but I was never into that kind of “trip.” When it comes to sex, drugs and rock n’ roll, always been a big fan of the first, still dig the latter (never was a Dead Head), and never understood the appeal of the “medicine.”

Baby Boomers are supposed to wax nostalgic for the 1960s and the demonstrations in the streets of Chicago and arrests on the quad at Berkeley. What the heck happened to your author? Instead, he pleasantly recollects the 1980s, when he tied the knot for the first time, became a father to Allison, when it was Morning in America.

California even balanced its budget, raised zero taxes and maintained a $1 billion for emergency. Almost sounds quaint when compared to today’s oceans of red ink for our children’s children to pay. Yep, the 1980s worked; they always will; historical revisionism be damned.

Come to think of it, during my life a Wall went up in 1961 (“Ich bin ein Berliner”) and it came down 28 years later (“Mr. Gorbachev, tear down this wall”). O.J. sliced up UCLA’s defense in 1967 and Nicole Brown a generation later.

Nothing has ever been permanent, particularly disco, hem-and-tan lines.

Brady Bunch Neighborhood

Growing up in lily-white Glendale, California in the age of Hogan’s Heroes and the God-awful Brady Bunch, your blog writer will always be grateful for those priests and nuns who taught writing, reading and literature. They also transformed me into the rotten Catholic I am today with their unique combination of arrogance, boorishness and corporal punishment.

Sorry to say Padre, you were wrong: Mary Magdalene was not a whore.

There was the bitter divorce of 1967, but with it came life-long lessons about how to and how NOT to treat the fairer gender. Monogamy with a special one is best; you should try it and stick with it, fellow hombres.ibmselectric

My love of writing began at eight-years old, the very same year in which the school loud speakers told us about the death of a young president. This same infatuation with the pencil, pen, IBM Selectric, work station, PC, and now the mobile device continued as man walked on the moon, a president resigned, our diplomats were held hostage for 444 days, and planes crashed into the World Trade Center and the Pentagon.

Growing up, always thought that Nixon’s first name was “Damn.” Came to appreciate that Tricky Dick and Slick Willie were spot-on names for my least favorite presidents. Thankfully, Nixon abolished the draft. There was no ‘Nam for me, University of Oregon instead.

The Earth Shook

Eventually graduated from the University of Southern California with a Rose Bowl ring and no loans. Yes I was fortunate, but a long career laid before me. Cut my teeth covering the Proposition 13 tax-revolt earthquake in 1978. Toured the Soviet Union in 1981, seeing the Evil Empire and its grip on people up close and personal. Recruited to serve as the press director for the Deukmejian Campaign Committee the following year. We won the governorship of California at 5 am the day-after-the-election. We recorded the biggest landslide in blue state California’s history four years later.

Sacramento has two seasons: Hot and Cold. Served as the Governor George Deukmejian’s press secretary as the earth shook San Francisco (e.g., Loma Prieta Earthquake). Was told “The Bay Bridge is in the Water.”  Whew, it was not true, even though the Cypress Structure mysteriously came down.cypressstructure

Next was trees, owls, chips and Japan, which led to the fifth most famous person from Liverpool, Wilf Corrigan, and LSI Logic. Saw the Internet bubble rise and inevitably it exploded, resulting in seven rounds of layoffs and a company on the brink. We survived and yet it was time for Wilf to retire … The world moved on to social, mobile and cloud.

Faced mortality twice, first with prostate cancer and then with Valley Fever/Meningitis. Fought off the first and battled the second to a draw, and yet it was my first wife, Robin, who lost her battle to cancer. Life is unfair. Life is fickle. Life is finite.

Attained the so-called “Holy Grail” of public relations, vaunted agency experience with a life-changing side-effect; subbing at Santa Clara University. Could I teach at the college level, maybe even at the school that caused time to stop with “Kenny Wheaton is going to score; Kenny Wheaton is going to score”?DSC01171

Accepted a fellowship to the University of Oregon School of Journalism and Communication and earned 15 months later my master’s degree. The attainment of a second career was complete with a full-time instructor position at UO, and now a tenure-track assistant professor gig, teaching public relations/advertising/corporate communications/investor relations at Central Washington University.

And best of all, the author of Almost DailyBrett turned his attention away from his blog long enough to survey the field of contenders on Match.com. The result was a love affair with Jeanne, fireworks on the Fourth of July, and trips in the little green chariot. Next up is our long-overdue romantic honeymoon to Bavaria and Tuscany, Mad King Ludwig’s castles and Under the Tuscan Sun.

I am one lucky dude.

Today, I am inspired by Mick and Keith at 71, Ronnie at 68, and geriatric Charlie at 73 on worldwide tour. To use more than a few metaphors, there is still plenty of gas in the tank and the engine continues to rev every morning. It’s pedal to the metal time.

“Oh what a long, strange trip it has been.” Looking forward to continuing the ride with the top down and my few remaining hairs flowing in the breeze.DSC01421

 

“Public scrutiny of business is constant and intense, and in the past decade, disillusionment has grown over excesses in executive pay, questionable accounting practices, drug recalls, and moral laxity on the part of corporations.” — Paul A. Argenti, Professor of Management and Corporate Communication at the Tuck School of Business at Dartmouth College

Should communication students be encouraged to work for publicly traded companies either from inside the corporation or providing external advice as a hired gun at public relations or advertising agency?

Or should these very same students be galvanized against the excesses of capitalism, demonstrating against Wall Street under the banner of social justice?

floodwallstreet

Are these questions mutually exclusive? Are you either for or against capitalism or for or against social justice?

These questions are magnified and intensified against the backdrop of underachieving employment, wage and real estate markets, while the NYSE and NASDAQ remain persistently bullish.

It appears this persistent economic scenario quite possibly will greet graduating students at least for the next academic year or two.

Examples of Corporate Excess

Finding examples of corporate excess is relatively easy.

Almost DailyBrett has joined the scads of other bloggers that take issue with seemingly brain-dead or just plain greedy antics by the leadership of large-cap publicly traded companies:

  • The author’s former company, LSI Logic, provided a seven-or-eight figure Golden Parachute to former CEO Abhi Talwalkar as he drove the 33-year-old specialty semiconductor designer into the abyss.
  • Spirit Airlines famously stiffed a decorated 76-year old, dying of cancer Marine veteran asking for a mere $197 refund, telling him literally to pound sand because he didn’t buy trip insurance. The carrier generously offered a partial credit, if he succumbed to the Grim Reaper before his flight.
  • October is right around the corner and that means (drum roll) even more corporate efforts to tie marketing bonanzas to Breast Cancer Awareness Month. Both 5-hour ENERGY and “Buckets for the Cure” KFC have become global leaders when it comes to “Pink Washing.”
  • Largest corporate bankruptcy-ever, Enron, is the poster-child when it comes to corporate greed and wrongdoing. And yet there were innocent people who were just trying to do their job, including telling the corporate story, until they realized they too were being misled.

Considering these examples and literally hundreds more, it is easy to give a broad-sweeping thumbs-down to multi-national corporations. At the same time, it should be remembered that these companies make the products and provide the services that we use on a daily basis (e.g., Apple = Macs, iPads, iPhones, iPods). They hire and provide benefits to literally tens of thousands (e.g., Boeing, 168,400; Starbucks, 160,000; Amazon, 88,400; Nordstrom, 58,140), Microsoft, 55,455). They provide wealth-accumulation prospects for the 54 percent of Americans who buy stocks, mutual funds and bonds (e.g., America’s investor class), including 73 percent of college graduates, and 83 percent of post-graduates.

Profit Motive

One of the major beefs espoused by the Occupy Wall Street movement three years ago, and the Flood Wall Street demonstrators earlier this month, is that publicly traded companies are focused on profits. These statements are accurate, but it should also be pointed out that companies have a legal (e.g., Employee Retirement Income Security Act or ERISA 1974) and moral (e.g., Fiduciary) obligation to produce the best bottom-line return possible for shareholders. Failure to do so invites almost certain civil and possible criminal litigation against the companies and potential dismissal of C-level executives.

floodwallstreet1

As a master’s degree candidate four years ago at the University of Oregon, the author of Almost DailyBrett noted the unrestrained celebration of competitive advantage and buy low/sell high mantra at the business school, and the unrestrained embrace of social justice including redistribution of income at the journalism school.

It seemed that one would build a statue of Adam Smith, while the other would throw flowers at the feet of Che Guevara. One would urge students to work and advise corporate America and the other would implore becoming an activist, marching, demonstrating and hopefully not being arrested.

Which is the better option for graduating students in making corporate America, particularly fallible publicly traded companies, more responsive to communities, the environment and let’s not forget, its own employees?

Corporate Social Responsibility

Corporate social responsibility or CSR should not be seen as an oxymoron. The concept of doing good (CSR) should not be viewed as contradictory to doing well (fiduciary responsibility). Graduates of communications, journalism and business schools can and should emphasize the value of doing BOTH to improve the bottom line for investors, including employees, while doing good deeds for communities, the planet and the rank-and-file employees.

Certainly the likes of Occupy Wall Street, which never found a unifying message, and Flood Wall Street, which tied capitalism to climate change, have their First Amendment Rights to (preferably) peacefully demonstrate. These NGOs need trained communicators and message developers.

Conversely, graduates could also choose to work internally to make companies better. They can stand for both fiduciary and corporate social responsibility. They can advocate against excessive C-level compensation. They can take stands against Pink Washing and Green Washing. They can ensure that the public is provided with good products at fair prices and everyone is treated with dignity and respect.

And heaven forbid, if another Enron is in the offing, they can courageouly tell the uncomfortable truth using their communication skills.

Is it better to be inside the corporation under the banner of capitalism or out in the streets (or in tents) calling for social justice?

There is more than one way to make corporate America better for everyone.

http://exec.tuck.dartmouth.edu/about-us/faculty/paul-argenti

http://www.huffingtonpost.com/2014/09/22/flood-wall-street-arrests_n_5865468.html

http://nypost.com/2014/09/22/climate-change-protesters-flood-wall-street/

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

https://almostdailybrett.wordpress.com/2012/05/06/lessons-from-the-spirit-airlines-pr-debacle/

https://almostdailybrett.wordpress.com/2012/05/02/evil-spirit-airlines/

https://almostdailybrett.wordpress.com/2013/10/10/5-hour-pink-washing/

https://almostdailybrett.wordpress.com/2014/05/22/shameless-5-hour-energy/

https://almostdailybrett.wordpress.com/2012/10/11/buckets-for-the-cure/

https://almostdailybrett.wordpress.com/2013/02/08/what-would-you-do-if-you-were-enrons-pr-chief/

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

https://almostdailybrett.wordpress.com/2011/06/03/adam-smith-vs-che%e2%80%99-guevera/

 

 

Snap. Crackle. Pop.

Silicon Valley and other mass communicators are enamored when it comes to threes.

CNBC’s investment guru Jim Cramer talks about the three moving forces in technology: Social, Mobile and Cloud.

socialmobilecloud

Threes are easy to remember, fours or fives, not so much.

At LSI Logic, we were fond of talking about our three C’s: Communications, Computer and Consumer.

These were our three strategic markets. The three C’s were easy for customers, employees and owners (e.g., investors) or the acronym, C.E.O., (another three) to remember.

In this spirit, let’s talk about the Almost DailyBrett Communication Big Three.

These are an absolutely essential trio of communications skills, most in demand in the marketplace, and which need to be taught by our colleges and universities.

Drum roll: Persuasive Writing; Financial Communications; and Social Media.

Think of it this way: The first two are analog in nature and the latter is digital.

Compelling Writing Skills

Writing goes back to the first publicity campaign on behalf of the all-powerful Pharaoh, the Rosetta Stone. He was awesome, and if you need proof just check out the hieroglyphics on the smoothed surface.rosetta

Johannes Gutenberg speeded up the process with his Mainz, Germany printing press in the 14th Century, and now the acceleration is at warp speed with wireless communication devices.

Despite the unprecedented ability to communicate in nanoseconds to virtually any spot on the globe at any time, the old-fashioned skills of developing compelling, credible and accurate copy under deadline pressure has never been greater. For some, writing is a natural gift that comes easy. For others, it is a laborious process that can be perfected with practice.

Starting this fall, your Almost DailyBrett author is teaching Introduction to Public Relations Writing at Central Washington University. My 20 students are going to be asked to produce the following:

  • Curriculum Vitae or resume, emphasizing the student’s professional and academic accomplishments with quantifiable measurements
  • Twitter-style cover letter applying for an entry-level public relations position and emphasizing the student’s personal ROI or Return on Investment
  • Complete LinkedIn profile including the same elements of the resume, plus a professional mug shot, three references and at least 30 connections
  • News advisory targeting legacy and/or digital native media informing and/or inviting them to attend and cover an upcoming event
  • News release providing information about a breaking news story, employing the inverted pyramid and using the five W’s – What, When, Where, Who, Why – and the one H – How
  • Pitch to a selected reporter, editor, correspondent, blogger or news aggregator about a newsworthy story and offering assistance
  • Copy for a 30-second radio or television PSA or Public Service Announcement on behalf of a non-profit agency
  • Chief executive officer strategy letter to investors, analysts and employees outlining your selected company’s business strategy and future prospects
  • CSR or Corporate Social Responsibility letter to company employees about efforts your chosen corporation is making to safeguard employees, protect the environment and serve the communities in which the company does business
  • Crisis communications news release – written under deadline pressure – announcing steps a company has taken to address the crisis and pointing to the future
  • Four personal blog posts, emphasizing public relations skills and commenting on breaking news events
  • Two-page executive memo with bullets and subheads introducing a subject, examining the factors, and recommending a course of action

The philosophy behind these assignments is the only way to really become effective at persuasive writing is to Just Do It!

Financial Communications

Many right-brain types, the very people who opt for Journalism school, avoid figures at all costs. And yet, the numbers will find them.

We now live in a world of “big data,” particularly those companies that are publicly traded. Chairman Mao is probably rolling over in his grave as PRC-based Alibaba takes its predominate Mainland China digital retail play public this Friday with shares expected to be initially priced between $66 and $68.

alibaba

Right-brain students need to figure out how to make peace with numbers. UNC Professor Chris Roush (Show Me The Money) states ex-cathedra: “Behind every number is a story.”

Hmmm … that means there are stories to be told about these numbers. In addition, the Securities Exchange Commission (SEC) requires these stories to be told to all investors, if they are “material.” Translated: If a company has “material” information that would prompt an investor to buy, sell or hold company stock, then the company is mandated to disclose under Regulation FD (Fair Disclosure).

What this means is that each and every of the more than 5,000 publicly traded companies (NYSE or NASDAQ) in this country must issue news releases. The writers are not expected to produce the figures (there are oodles of accountants, auditors, controllers …), but they instead must tell the story behind these numbers.

That means that college and university communications graduates should know the difference between the income statement top line (revenues), the bottom line (net income or net loss) and everything in between (e.g., COGS, Gross Margin, SG&A, R&D, Operating Income, Taxes, Amortized Expenses …).

Sure wish someone had been kind enough to teach me these skills, including how to read a balance sheet, back in college.

Social Media

The world has already shifted from Web 1.0 (accessing websites) to Web 2.0 (wired and wireless devices talking to each other) and soon Web 3.0 (semantic web).

The Economist reported this week that nearly one-quarter ($120 billion) of the world’s $500 billion advertising business is coming from digital ads, increasingly being delivered to mobile devices. Yes there is no doubt that digital media is being monetized through search engine optimization (SEO) and other techniques, and that Genie is not going back in the bottle.

Facebook (friends), Twitter (140-character tweets), LinkedIn (connections), YouTube (videos), Flickr (photos), Pinterest (online scrapbooks), WordPress (Almost DailyBrett) all enjoy first-mover advantages in their respective social media spaces. There are challengers now and more competitors to come. The bottom line is that digital publishing through binary code is here to stay.

Companies and international public relations agencies are expecting that digital natives instinctively understand social media. This all circles back to the ability to write clear, concise, credible and compelling copy for an audience that is increasingly overwhelmed by information.

digitalnatives

And much of this data comes in the way of numbers, the ones with a story behind them. And increasingly, these stories no longer involve a gate-keeper but are transmitted though “owned” media (e.g., websites, blogs, social media sites).

Stating that compelling writing, financial communications and social media are the Big Three of Communications may entice the crisis communications, marketing, branding, reputation management, employee communications, public affairs and other dedicated professionals to take umbrage.

Fret not. Almost DailyBrett loves you too, and says to each of you that you need (or soon will need) graduates who can tell the story, and tell it well, through effective writing, numerical literacy and of course, proficiency with digital tools.

http://smallbusiness.chron.com/importance-writing-skills-business-845.html

http://www.unc.edu/~croush/CV.htm

https://almostdailybrett.wordpress.com/2014/05/29/owned-media-an-answer-to-digital-change/

http://www.economist.com/news/special-report/21615869-technology-radically-changing-advertising-business-profound-consequences

 

 

 

 

 

 

“The sales of Apple kept getting stronger, the cash position larger, and the products more creative than any company I can ever recall – all because of the genius of one man, the founder, Steve Jobs.

“When Steve Jobs died on October 5, 2011, I told people on ‘Mad Money’ that Apple would never be the same…” – CNBC über-commentator and former hedge fund manager Jim Cramer

The Three Gees

When I joined the ranks of Silicon Valley PR directors/managers in 1995, the business media was obsessed with three CEO rock stars we called, “The Three Gees”: Bill Gates (Microsoft), Lou Gerstner (Itty Bitty Machines) and Andy Grove (Intel).

The Three Gees dominated (today’s legacy) media at the time, seemingly making every cover of the leading business magazines, namely BusinessWeek, Forbes and Fortune.

They respectively represented the software, manufacturing and semiconductor sides of the PC, and the growth of their stocks was something to behold.

jobsamelio

When Steve Jobs returned to Apple one year later – 11 years after being forced out by John Sculley and the Board of Directors of the company he created – the media coverage was breathtaking. The Mercury News above-the-fold treatment left one wondering what the editors would do for the “Second Coming.”

And yet Steve Jobs was indeed mortal. There was no OMG product that Jobs bequeathed to his successor, Tim Cook. Today, Apple is losing ground to Samsung. Will Apple ever regain its Steve Jobs-era glory? Most are betting the under.

Fast-forward to the present: Microsoft is offering new generations of Windows in the post-Gates era. IBM sold its PC division – the technology it pioneered – to China’s Lenovo. Intel and other semiconductor companies are now mere commodity suppliers to the new newsmakers, the social media (e.g., LinkedIn), cloud computing (e.g., Salesforce.com) and mobile technology (e.g., Google) firms or as Cramer says: social, cloud and mobile.

Bench Strength?

In the big four American sports, particularly beisboll, football and hockey you cannot win the World Series, Super Bowl and Stanley Cup respectively with just superstars. This is less the case with basketball, but players contributing off the bench are still needed. The point is champions must have talent, including superstars, but they also need deep benches, intelligent systems and solid coaching.

A team winning the Stanley Cup cannot just rely on one superstar center, left-wing, right-wing line, but also scoring from lines two, three and four, solid defensemen and lights-out goalies. There will be nights when the top line is not producing. That means that others must step up and contribute.

penguins

My former boss, Wilf Corrigan, founded custom-chip designer LSI Logic in 1981 and also served as its chairman and chief executive officer until he decided in concert with the company board of directors to step down in 2005. He surrounded himself with extremely talented lieutenants as mentioned in an earlier Almost DailyBrett post. They went on to serve as CEOs including: John Daane (Altera); Brian Halla (National Semiconductor); Moshe Gavrielov (Xilinx); Jen-Hsun Huang (NVIDIA); Ronnie Vashishta (eASIC) and Bruce Entin (Silicon Valley Communication Partners).

The most important point is that Wilf, despite his status as a captain of industry, did not want the LSI Logic story to be exclusively about him. He also wanted to feature his deep bench. Instead of the first-person singular (e.g., I, me, myself), he insisted on personally speaking in the first-person plural (e.g., we, us, ours). He wanted the same for those who spoke on behalf of the company team … that would be me.

The Imperial CEO

carly1

Just last week, The Economist cited Czarina Carly Fiorina, former CEO of Hewlett-Packard, in a story as to why female CEOs are more likely to be shown the door – the glass cliff — as opposed to their male counterparts. The central reason offered was that female CEOs are more likely to be hired from outside to save the day.

The Economist cited the “disproportionate publicity” that Carly received in her rocky tenure, making her a media star and synonymous with her company Hewlett Packard (particularly during the Compaq acquisition debacle) and ultimately contributing to her demise.

mayer

Almost DailyBrett wrote earlier about glamorous Yahoo! rock star Marissa Mayer, and her decision to pose horizontally for Vogue. The question was asked then, and asked again now whether we care as much about Yahoo! as we do about Mayer? Maybe the coming $15 billion – $16 billion IPO of Chinese digital retailer, Alibaba, will bring some attention back to 13.6 percent part-owner, Yahoo!

We should also not lose sight that Mayer came to Yahoo! from Google. Is there another glass cliff in the offing?

“Tesla is Elon Musk”

Last week, a CNBC talking-head analyst declared that electronic car innovator Tesla was in reality an ion-battery maker in drag.

CNBC anchor Bill Griffeth replied that Tesla is Elon Musk. Guess the same would apply to privately held, rocket maker SpaceX. According to a recent profile on CBS’ 60 Minutes, Musk devotes three days of his typical week to SpaceX, two days to publicly traded Tesla (NASDAQ: TSLA) and two days to his relatively new wife and five sons from his previous marriage.

Can Musk petition for weeks to be extended to nine days?

As a shareholder of Tesla and as a public relations counselor/commentator for three decades, Musk comes across as a good guy and relatively modest. He simply calls himself an “engineer.” Whether he likes it or not, he is first and foremost a technology rock star.

So what should Tesla, SpaceX and Musk do?

At a minimum, they all should be thinking about succession planning even though Musk is only 42 years young. The comparisons made by 60 Minutes and others, comparing Musk to Jobs, should be seen as both extremely flattering and downright scary.

Tesla and SpaceX seemingly have extremely talented corporate lieutenants. We need to see them and get to know them. Will they replace Musk in stature? No. Having said that, there will be a future of these companies after Musk, just as there was a future for Apple after Jobs.

muskstraubel1

For example we could learn more about Tesla’s chief technology officer JB Straubel, who rebuilt a discarded electric golf cart at 14-years young. Today, the Stanford grad in energy engineering is now tasked at building an affordable (e.g., $30,000) Tesla electric car with acceptable range.

The same will eventually be true for the leading rocket scientists (they really are rocket scientists) at SpaceX, particularly if Musk decides to take the company public.

The Tesla and SpaceX teams need to remember that running a company is not a sprint, but a marathon. To make it for the long-run and go deep into the playoffs, you need a seasoned team and a strong contributing bench.

http://www.amazon.com/Jim-Cramers-Get-Rich-Carefully/dp/0399168184

http://appleinsider.com/articles/13/03/27/briefly-steve-jobs-1996-return-to-apple-depicted-in-rare-set-of-photos

http://www.economist.com/news/business/21601554-why-female-bosses-fail-more-often-male-ones-glass-precipice

https://almostdailybrett.wordpress.com/2013/08/18/mayer-vogue-nasdaq-yhoo/

http://www.teslamotors.com/executives

 

 

 

 

“Only in America”

The old joke: “When has it been a bad day?”

“When Mike Wallace (in particular) and the 60 Minutes crew is waiting in the lobby.”

Sometimes having 60 Minutes coming for an extended visit can be great news for a company, and maybe for a nation that could use a kick in the collective pants.

pelley60Minutes

The Scott Pelley story this past Sunday focused on a 42-years young immigrant “engineer” from South Africa, Elon R. Musk, who is playing a huge role in reviving American heavy manufacturing in both automobiles (Tesla) and rockets (SpaceX).

Almost DailyBrett wants to hear, tell and relay more of these stories.

Driving repeatedly up the 880 (e.g.. The Nasty Nimitz) past industrial Fremont, one would cast a sad glance at the shuttered NUMMI plant. At various times, GM and Toyota cars and trucks would be made there until they weren’t any longer.

The negative narrative was that Silicon Valley with its unparalleled collection of gear heads would always be a center of innovation, but manufacturing was just too bloody expensive.

Oh, ya?

Tesla’s 1,000 employees at the recharged NUMMI plant can’t build the fully battery-powered (up to 250 miles on one charge with zero climate change emissions) $100,000 Model S cars fast enough to meet the demand. Overall Tesla (NASDAQ: TSLA) employs nearly 6,000 directly and indirectly results in the hiring of thousands of others in supplier roles, and quite well could be the first successful U.S. automobile start-up in 90 years. And the company is working to developing the technology to build $30,000 non-polluting all-electric cars with acceptable travel ranges.

Heck, Bill O’Reilly called Tesla a global “game changer” that will force all rival automakers to respond.

Earns Tesla Motors

But the story does not start-and-stop there; In fact it goes into the stratosphere and beyond.

Musk also pioneered privately held SpaceX with its 3,000 employees, which received a $1.5 billion NASA influx to deliver cargos via rockets to the agency’s orbiting space stations. SpaceX is developing the first rocket that can be landed right back on the launch pad, and may play the leading role in taking humans to Mars for the first time.

Don’t bet against Musk, Tesla and SpaceX.

We seemingly live in a culture in which no good deed goes unpunished, one in which we despise the 1 percent who have much more than the rest of us, and yet we don’t know them.

For example, Musk came to America … “Only in America” … because of its software prowess, particularly the Silicon Valley. After attaining degrees in physics and business from the University of Pennsylvania, he devised the software that provided on-board navigation for drivers, and made $22 million. He developed the online banking system, called PayPal, which he sold to eBay for $1.5 billion (Musk’s share, $180 million). Modestly, he said that was a “good outcome.”

And then he bet the ranch and his earned nest eggs on both Tesla and SpaceX, and was close to bankruptcy and a nervous breakdown. He had hundreds of electric cars that did not work and three failed rocket launches in succession…a fourth would have been game, set and match.

spacex1

With tears in his eyes, he told the story of how Number Four was the charm, and the NASA and further VC investments saved the day. His reaction was very human, very open-kimono. Maybe there are good people who happen to earn a lot of money?

The rest is history. Entrepreneurs by their very nature have to be prepared to fail. Caca happens more times than not. Musk stared failure and permanent debt right in the eyes…and the other guy just blinked.

As mentioned more than once in Almost DailyBrett, my former boss Wilf Corrigan came to America from Liverpool, England with his new Norwegian bride circa 1960. The initial destination was the wrong side of the tracks in blast-furnace hot, Phoenix, Arizona with barely two shekels to rub together.

In time, he rose to the top spot at Fairchild, lost the company in a hostile takeover bid, formed his own company, LSI Logic, which is now being driven into oblivion by his successor. Wilf succeeded, failed and succeeded again.

Failure is an option in Silicon Valley and America, but so is success…including new businesses, jobs and maybe heavy manufacturing (e.g., electric cars and rockets).

musk

Mounting the proverbial soap box, there are a record 47 million on food stamps and another record 8.9 million on disability, most legit…some not. We need to provide a safety net for those who are in real need…

We also need to not hate, but celebrate, the doers, the achievers, the entrepreneurs. The days of jealousy should be behind us, but you know they are not.

For the public relations industry, we should be unabashed and undaunted in telling the stories of those who dare to fail and ultimately succeed, providing us with great products and the best anti-poverty program on the planet: A good paying private sector job with full benefits.

Thank you Elon Musk and all the others who dare to follow in your footsteps. We can hardly wait to hear and tell the stories about you.

http://www.cbsnews.com/news/tesla-and-spacex-elon-musks-industrial-empire/

http://www.foxnews.com/on-air/oreilly/2014/04/01/bill-oreilly-truth-about-obamacare-and-global-warming

http://www.teslamotors.com/

http://en.wikipedia.org/wiki/Tesla_Factory

http://www.spacex.com/

https://almostdailybrett.wordpress.com/2012/01/16/in-search-of-another-suite-h33-kirkland-house/

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

https://almostdailybrett.wordpress.com/2012/11/18/makers-and-takers/

 

 

 

 

If all goes well with the regulators and the lawyers, LSI Logic will slowly disappear over the horizon, going into the history books later this year, reduced to a Silicon Valley afterthought. abhi

Keep in mind, we are talking about two iterations of the company: First, the LSI Logic (NYSE: LSI) created by Wilf Corrigan 33 years ago; and second the present day LSI Corporation (NASDAQ: LSI), on the precipice of being ushered into oblivion after eight-short years under the management of Wilf’s successor, Abhi Talwalkar.

There was a misguided celebration by some in the financial community in 2005 when Wilf at 67-years young turned over the reins to Abhi. This was the same Wilf Corrigan, who grew LSI Logic from zero revenues in 1981 to $1.8 billion when he finally hung up the cleats. No one was complaining when LSI Logic’s stock reached a post-split price of $90. Then there was the bursting of the Internet Bubble and the stock fell back to $3.

This is the same Wilf Corrigan that founded the custom semiconductor business, known as ASICs or Application Specific Integrated Circuits. Sony reached out to LSI Logic when it needed a critical processor for the first two generations of the PlayStation. This is the same LSI Logic that pioneered the concept of System on a Chip. The company eventually reached $2.7 billion in revenues before the Bubble Burst. Wilf Corrigan, CEO of LSI Logic

When I was joined the company in 1995, I was awed by the sophistication of the company’s innovation, its library of complex intellectual property cores, and its all-star lineup of future technology C-level executives: John Daane (Altera); Brian Halla (National Semiconductor); Moshe Gavrielov (Xilinx); Jen-Hsun Huang (NVIDIA); Ronnie Vashishta (eASIC) and Bruce Entin (Silicon Valley Communication Partners). Bruce was not only the best boss in my career, but is an even better friend.

Enter Abhi in 2005. He took it from there until last December 16 when Avago Technologies announced its $6.6 billion cash acquisition of LSI. If Winston Churchill was still around to assess Abhi’s eight-year stewardship, he would be tempted to state: “Never in recorded history has so many waited so long for so little.”

Looking back at my 10 years as the director of Corporate Public Relations for at LSI Logic (proper spelling), I was honored and humbled to have the opportunity to work closely with Wilf Corrigan until shortly after he stepped down. I am proud of my tenure, but saddened by what could have been and the upcoming silent burial of LSI Logic.

Let’s face it: Many were downright scared of Wilf. He had the reputation for being a tough, no-nonsense businessman, a calling card he earned from his 1970s chairmanship of Fairchild. For some reason, I was not intimidated, but always respectful. I found Wilf to be extremely well read and not just in the business of technology, but politics, history and geography. Particularly on road trips, we talked for literally hours on these subjects.

An irony of Wilf’s career was Gould’s hostile takeover attempt of Fairchild circa 1979. It didn’t take long for Wilf to realize that Fairchild was in play. In the end, Wilf and the Fairchild Board of Directors found a White Knight in Schlumberger. In turn, Schlumberger drove Fairchild into the ground. The Schlumberger acquisition of Fairchild provided Wilf with the opportunity to create his own company, LSI Logic or Large Scale Integration Logic. And now his creation is being put out of its agony by Avago. Did the company have to end this way?

When it was time for Wilf to step down, LSI Logic HR head Jon Gibson unearthed Abhi from Intel. This was the same Intel that created legends by the names of Andy Grove, Gordon Moore, Robert Noyce and Craig Barrett. Would Abhi do the same for LSI Logic? lsi

Abhi guided the rebranding of LSI (dropping “Logic” from the name) and adopting the “flower” logo. Later LSI acquired Agere Systems for $4 billion, the technology equivalent of Mexico absorbing Guatemala. LSI’s present revenues are $2.5 billion. Why Agere? And for what purpose?

Until the announcement of the Avago acquisition, LSI’s stock remained mired for years at $8 or less. Being charitable, one can easily conclude the company underperformed. And now it will be absorbed into Avago, a company that once was HP’s semiconductor business.

An oft-heard complaint about Wall Street revolves around executive compensation, especially those who walk away with millions even when they underachieve. Abhi ($2.09 million annual salary, not including options) will inevitably get a huge package in recognition of his starring role in driving the company into the abyss. Undoubtedly, he will live a very comfortable life. LSIlogo

And LSI Logic…it will always be LSI Logic to me…deserved a better fate, a much better fate.

http://dealbook.nytimes.com/2013/12/16/avago-to-buy-lsi-for-6-6-billion/?_r=0

http://allthingsd.com/20131216/in-chip-deal-singapores-avago-to-acquire-lsi-for-6-6-billion/

http://www.zacks.com/stock/news/118176/is-the-lsi-acquisition-in-jeopardy

http://www.usatoday.com/story/tech/2013/12/16/avago-lsi-acquisition/4038113/

http://finance.yahoo.com/q/pr?s=LSI+Profile

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