Monthly Archives: January 2009

Angry Senator McCaskill calls to curb executive compensation

“We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer.”
–Senator Claire McCaskill

Finally, someone has the guts to stand up against these crooked CEOs and Wall Street executives. 

Senator Claire McCaskill, D-Missouri, is trying to pass the Chief Executive Officer Pay Act of 2009, which would cap the compensation of all executives for companies accepting federal help.  This law would limit compensation of all employees to that of the President of the United States, and it would include all compensation, including bonuses and stock options.  The president currently makes $400,000 a year.  According to the speech above, this cap would be in effect for companies until they paid back every dime of aid that they received.

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First African American Chair of the RNC

Michael Steele

Michael Steele

Michael Steele is the first African American Chair of the Republican National Committee

This could be good or bad.  The RNC is a big mess these days, and with the ideological differences and the anger following 8 years of Bush, this might not be the best position for Steele right now.   That said, it’s great that they’ve brought an African American to the head of a party not known for its diversity efforts.

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Helio Gracie, Pioneer of Brazilian Jujitsu, Dies at 95

helio

Helio Gracie

I awoke to find the following e-mail in my inbox.

On Tuesday morning Grand Master Helio Gracie was tanning at his ranch in Brazil, and on Thursday morning at 9:15 he passed on due to natural causes. His legacy will survive forever in all members of the Gracie Family, jiu-jitsu practitioners around the world, and all those who have benefited from the revolution he began.

In his final years, the creator of Gracie Jiu-Jitsu often spoke of his satisfaction with his life’s work. He openly stated that he had accomplished everything he had set out to do, displaying his preparedness for the transition into the afterlife.

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Book World Out of Print

bookworld-span

The NY Times reported that the Washington Post’s Book World is going out of print.  It’s yet another way in which the print media is cutting back.

I’m seriously worried about investigative reporting, but I have a feeling that stuff like book reviews, movie reviews, and the like will be downsized regardless of what we do.  When it comes to this kind of thing, I’m in the same state of mind as Jason Epstein–I think we’re going to have to learn how to deal with a new system that takes the internet into account.  It’s a fact that booksellers had very little idea what people thought about books before Amazon came out; this is simply a reworking of an industry that may not have been as efficient as it could have been.  Professional reviewers are important to society, but the form and method in which they deliver their views will probably have to change.

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Endowments: A Possible Solution to the Media Problem

I’m excited.  A NY Times Op-Ed just proposed a solution for the media problem that I’ve been blogging about.  (see here, for example).

I don’t remember when I said it, but I did: most literary writers, in the future, will most likely be employed by foundations rather than private companies.  The money just isn’t there.  It’s not that big of a deal–most literary writers are and will continue to be broke anyway–but it speaks against the idea that writers will be independent.

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The Scoop on Dirt

For you mommies and daddies out there, when your baby or toddler puts something dirty in his or her mouth, know that there’s an evolutionary reason.

Since all instinctive behaviors have an evolutionary advantage or they would not have been retained for millions of years, chances are that this one too has helped us survive as a species. And, indeed, accumulating evidence strongly suggests that eating dirt is good for you.

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Self-Publishing Companies Making Bank

Motoko Rich had a story in the NY Times today about the self-publishing industry.  As you all know from a previous post, we’ve got at least one regular here who is a self-published author, along with one who is planning on becoming a self-published author.  I think it’s awesome that technology is allowing people to self-publish without prohibitive costs.  The world is becoming more democratic.

The story in short goes like this: traditional book publishers, which front money and time to promote books, are hurting badly.  Self-publishing companies, on the other hand, which usually charge authors to get started, are flourishing.  They seem to be the one bright spot in the entire publishing world.

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John Updike Dies at 76

27updike-190

John Updike

See article here.

I’ve never actually read a book by John Updike, but I’ve read his essays.  He was a great essayist and reader.  Just a few months ago, I read the Best American Short Stories of the Century, for which he was a co-editor (and also a short story writer).   

Rest in Peace.

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Go home and procreate

There’s an interesting video on CNN about Canon Japan and its new program to get workers to go home early and “procreate.” See the article here. What a great company! I’m proud to own a Canon digital camera.

There were a number of questions/thoughts that popped into my head after watching/reading this.

1. How does the company benefit from sending its workers home early? Cutting overtime seems rather useless compared with the more common method of cutting workforce. Plus, if these people do have babies who scream through the night, they’re going to be tired and walking around like zombies, and they’ll be more or less useless to the company. (I’m speaking a bit from experience.)

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71,400 jobs

CNN article here.

All I can say is ouch.  My thoughts go out to those who are struggling.  Please stay positive.

chart_job_cuts0126d(Updated to include the numbers which have been added since I posted this morning.)

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