Wednesday, October 8, 2008

Random Thoughts


Just some Random Thoughts because I've been so busy with 3 tests this week.





I just read a great column here, writen by Bill Simmons, about Elgin Baylor. If you don't know who Elgin Baylor is, he was a Hall Of Fame basketball player for the Lakers, and up until this week the General Manager of the LA Clippers. Whats really interesting is how most people don't know about him and the struggles he went through as a basketball player and a black man in America. How he paved the way for basketball similar to Jackie Robinson.


"Elgin came into a league where guys shot running jump hooks and one-handed set shots. Teams routinely took 115 shots a game and made less than 40 percent of them. Nobody played above the rim except Russell; nobody dunked, and everyone played the same way: Rebound, run the floor, get a quick shot. Quantity over quality. That's what worked. Or so they thought. Because Elgin changed everything. He did things that nobody had ever seen before. He defied gravity. Elgin would drive from the left side, take off with the basketball, elevate, hang in the air, hang in the air, then release the ball after everyone else was already back on the ground. You could call him the godfather of hang time. You could call him the godfather of the "WOW!" play. You could point to his entrance into the league as the precise moment when basketball changed for the better. Along with Russell, Elgin turned a horizontal game into a vertical one."


I knew Elgin Baylor had been a great player, the Kobe Bryant of his generation, but not this revolutionary. But what stuck out to me was what he had to overcome.


"Elgin lived through some things during his career that we like to forget happened now. Lord knows how many racial slurs bounced off him, how many N-bombs were lobbed from the stands, how much prejudice he endured on a day-to-day basis as the league's signature black star. Russell bottled everything up and used it as fuel for the next game: He wouldn't suffer; his opponents would suffer. Oscar morphed into the angriest dude in the league, someone who screamed at his own teammates as much as the referees, a great player who played with an even greater chip on his shoulder. Elgin didn't have the same mean streak. He loved to joke with teammates. He never stopped talking. He loved life and loved playing basketball. He couldn't hide it. And so his body soaked up every ugly slight like a sponge."

The column goes on to give a real life account of the some of the racism Baylor encountered in his playing days, Including a story about a game in Charleston, West Virgina, where he was dehumanized by the same people he came to play in front of. This was a really chilling and well told story about a great basketball player who was classlessly fired in power struggle this week. It's a story of sports pioneer who overcame great adversity. One of the few good reads of my day today.









Another interesting, but scary thing I read was This, about Iceland on the brink of Bankruptcy. This was a pretty interesting story because Iceland is actually a really small country with a huge Economy. The Thing about Iceland is that its the only Hydrogen Economy in the world. They mostly use Geothermal, Hydroelctric, and Hydrogen energy over there, so it has a very low dependency on foreign Oil. The problem is that Iceland's Banks have taken on to much liabilities. This will be interesting to see how it plays out.











this Penguin story. Now I'm not one of those PETA freaks who go around throwing blood at people, but this story really touched me. This story is basiclly about 100+ penguins who got stranded on a beach in Northeastern Brazil. They were helped and rescued by various agency working together and flown south by the Airforce. Its stories like this that actually give you some hope in humanity. I just thought these were Interesting

Wednesday, October 1, 2008

Greed





This here is a list of the 20 highest paid CEOs.





1. Larry Ellison, Oracle (US$192 million)
2. Frederic M Poses, Trane (US$127 million)
3. Aubrey K McClendon, Chesapeake Energy (US$117 million)
4. Angelo R Mozilo, Countrywide Financial (US$103 million)
5. Howard D Schultz, Starbucks (US$98.6 million)
6. Nabeel Gareeb, MEMC Electronic Mats (US$79.6 million)
7. Daniel P Amos, Aflac (US$75.2 million)
8. Lloyd C Blankfein, Goldman Sachs (US$73.7 million)
9. Richard D Fairbank, Capital One Financial (US$73.2 million)
10. Bob R Simpson, XTO Energy (US$72.3 million)
11. Richard S Fuld Jr, Lehman Brothers (US$71.9 million)
12. Steven Roth, Vornado Realty (US$71.9 million)
13. Marijn E Dekkers, Thermo Fisher, (US$69 million)
14. Steven A Burd, Safeway (US$67.2 million)
15. Gregg L Engles, Dean Foods (US$66.1 million)
16. Nicholas D Chabraja, General Dynamics (US$60 million)
17. Leslie H Wexner, Limited Brands (US$56.1 million)
18. David C Novak, Yum Brands (US$55 million)
19. John T Chambers, Cisco Systems (US$54.8 million)
20. William R Berkley, WR Berkley (US$55 million)





I got it from here





What you will find most surprising is that at 11 on this list is Richard S Fuld Jr, the former CEO of the now defunct Lehman Brothers Holdings Inc. He made 71.9 million dollars this past year, yet was unable to keep his company from filing the largest bankruptcy in US history. Now let me get this straight, This CEO is paid over 70 million dollars in one year to basicly mismanage a corporation, well I know I can do that for 70 million. And Now we are suppose to give them 700 Billion to bail them out. Well I'm in favor of the bailout for one reason alone, the credit crunch. This problem severely hurts students like me who need to get loans, but either can't get them at fair rates or just can't get them altogether. But for me support a bailout and pay this man or other CEOs like him that now are begging for corporate welfare would be madness. I'm personally in favor of these men and their top executives not receiving anything more then 500,000 dollars a year in both cash compensation and stock options, and HELL NO to bonuses.

You will also note at number 8 on this list is Lloyd C Blankfein, the CEO of Goldman Sachs, which is still alive but floundering and in need of the coporate bailout. Hey I'm pretty sure those 73 Million would be a big help right about now.


Then you also have the evil Aubrey K McClendon, the CEO of Chesapeake Energy, who, along with Clay Bennett and two other partner, stole the Seattle Supersonic franchise from seattle and moved it to Oklahoma City because they couldn't swindle the City of seattle and its tax payers to publicly finance a new stadium for them. This whole story gets even funnier, because the team was sold off by Howard Schultz, The CEO and Chairman of Starbucks, and YES, number 5 on that list. What is funny about this situtation is that its not the worst things McClendon has been tied too. Aubrey McClendon and Chesapeake Energy have been accused by government officials of Price fixing to raise the price of its natural oil. This man makes 117 million dollars a year and thats not enough for him, he has to nickle and dime his way through the people, with price fixing on natural oil and then making tax payers pay for a new stadium so that he can charge to enter and watch his team in the stadium you paid for, wow.


I'm all for Market Economy, competition, and incentives. But when is enough going to be enough. 73 million dollars a year is roughly 1.4 million dollars a week. I'm not saying to not pay these guys, but when you are making more in a week then most will ever see in their life times, then something truly is wrong in the world. I for one will boycott all these Multination Corporation until they start paying the rest of their employees more and their executives less, and I hope anyone who read this will join me.