Category Archives: Business

Wharton School of Business

I believe education is important whether you are 19 or 91. Rats need to chew to keep their teeth from growing through their brain. People need to learn lest apathy and ignorance grow through their brains.

Certain educational institutions project a cachet that provides their students with a preconceived capability. The Harvard School of Business is a predominant example. I suggest you read Robert Townsend’s seminal book “Up the Organization” – the most recent updated version. It was originally written in the 1960s and while most concepts are still true, the sections on women in business and computers had to be revised. Over 50 years, that’s not too bad.

In any case, one of the paramount examples of business education excellence is the University of Pennsylvania’s Wharton School of Business. It’s highly regarded with such graduates as Elon Musk, Warren Buffet, Donald Trump, etc., etc.

I had a boss in the 1980’s who graduated from Wharton. This was shortly after the junk bond fiasco. He would tell people that he was quite proud of the fact that, unlike may of his classmates, he had neither been prosecuted nor convicted.

Makes you think.

 

I Avoid Facebook

I’ve mentioned this before, but perhaps not in this detail.

I avoid Facebook. I have an account left over from years ago when I opened it to keep tabs what my kids were posting.

When I get friend requests, I’m sure many people feel I’m ignoring them. I’m not ignoring them. I’m ignoring Facebook.

Facebook allows anything anybody anywhere posts regardless of how much needless damage will be caused. Facebook is not responsible for erroneous, fake, or hateful posts by anonymous entities. I say entities because posters are not necessarily people–entities may be foreign agencies, spambots, or other human impersonators.

Why?

There is a law often referred to as Section 230. As I understand it, it says that internet interactive computer services, like Facebook, are not responsible for what gets posted. This law says that internet services are communications services, just like the telephone companies. Since no one controls what someone says on the telephone, Facebook and similar providers are not responsible for content. This is unlike newspapers, magazines, television, or radio.

So, the business model for Facebook is:

“Facebook has the right to collect massive amounts of monies from its advertisers without any limits. In exchange, Facebook has the obligation to collect massive amounts of monies from its advertisers without any limits.”

Don Vito Corleone would be green with envy.

Create meme "the godfather , vito corleone , Corleone ...

 

It Will Never Be a Movie

If the Coronavirus COVID-19 were a movie treatment, it probably never would get made. Look at the plot elements:

  1. A deadly disease begins in a faraway city known for both selling live exotic animals for food and for having a secret government lab.
  2. The disease is viral. Viruses, unlike bacteria, do not respond to antibiotics. Since a virus is not actually alive, it cannot be killed, only neutralized.
  3. The disease preferentially attacks the poor, minorities, the aged, females, and people with pre-existing medical problems.
  4. Some who are infected by the disease show no symptoms, but are carriers of the disease and can transmit it to others.
  5. Some of those infected exhibit flu-like symptoms, are misdiagnosed. The defining symptom, death, follows soon thereafter.
  6. Some adult patients show no obvious symptoms, except upon examination, it is discovered that their oxygen levels are dangerously low, which can lead to death.
  7. Children, at first were believed to be asymptomatic, later many develop a whole host of symptoms that are completely different from those experienced by adults.
  8. Politicians, faith healers, scammers, etc. seize the opportunity to amass wealth and/or power.
  9. Much of the protective equipment, drugs, and medical supplies needed to handle the disease are produced in the country from which the disease originated. Many US companies had moved manufacturing offshore to save money; there is insufficient manufacturing capacity in the US.
  10. Scientific experts advice is ignored while the Internet and other sources promote a variety of alleged cures, treatments, and religious talismans–none of which seem successful.
  11. There is insufficient capacity to test all suspected cases, so the number of people affected are likely under reported. Some cases are only diagnosed after death, when an autopsy is performed.
  12. State and local governments discourage people from engaging in activities that spread the disease, encourage the use of masks to protect others, and maintaining a six foot buffer between people.
  13. With workers unable to do their jobs, the economy suffers. People are laid off or lose their jobs.
  14. The number of confirmed cases in the US approaches 1.5 million confirmed cases, with nearly 90,000 deaths. These numbers only include patients who were tested or otherwise diagnosed.
  15. Some claim the disease is caused by a new cellular telephone system; others call it a hoax; still others see it as a conspiracy to restrict constitutional rights.
  16. Armed dissidents, encouraged by a variety of sources, protest the social distancing, stay-at-home orders at the state capitals, clustering in large groups, usually without masks.
  17. In the meantime, the country from which the disease arose and several of its allies launch cyberattacks on the US to steal medical secrets relating to healing or preventing the disease–and anything else they come across, once they get inside a computer.
  18. As US cases seem to slow their rate of growth, state and local governments relax social separation. People immediately return to pre-pandemic behaviors and the dissidents declare victory.

The screenplay ends here. The audience is left in limbo, unsure whether the disease is indeed winding down, or preparing for a second wave. Unsure as to the future of the economy.

As I said at the beginning, no studio would ever consider wasting time on a script for this scenario.

COVID-19 and the Future

There is a computer program that gives a real-time update on the Coronavirus, COVID-19 [LINK]. Today, I watched it roll up several hundred new deaths over a matter of hours.

It’s tough for a small business to have to worry about surviving during the pandemic. It’s tougher for a family that lives paycheck-to-paycheck to try to figure out what they’re going to do. It’s disgusting to see large corporations with cash on hand and cash in the bank grab the federal aid intended for small businesses.

Every single number that program showed today was an actual person–someone whose family is now grieving. These aren’t statistics–these are people. Unfortunately, they are now dead people.

Pandemics throughout history have had long-lasting effects, which are often overlooked. When large numbers of people die, those at the top of the socioeconomic ladder had to compete for workers. Kings made edicts that their subjects must work for the same salary as before, which was generally ignored. Workers chose jobs that paid better and the divide between the rich and common folks narrowed.

I don’t know what is going to happen after we get things back to normal, nobody does, but the new normal is going to be different.

 

A Wise Investment

The Palm Beach Post reports that Publix Grocery announced this week that it will purchase fresh produce and milk to help farmers who have been hurt by the coronavirus pandemic. The supermarket chain will donate these products to Feeding America member food banks operating in the communities they serve.

The initiative will support Florida produce farmers, southeastern dairy farmers and the growing number of families looking to Feeding America for fresh fruit, vegetables and milk during the coronavirus pandemic. The initiative is expected to run for several weeks.

“As a food retailer, we have the unique opportunity to bridge the gap between the needs of families and farmers impacted by the coronavirus pandemic,” said Publix CEO Todd Jones.

While many businesses try to grab as much profit as possible in good times or in bad, Publix CEO Todd Jones makes wise investments.

Farmers who have to destroy food and dairy may lose enough money to force them out of business. Sending the food to food banks is right, just, and logical.

The farmers will likely see Publix as a partner rather than merely a customer. Likewise those who rely on the food Publix donates–many of whom have never had to do so before or again–will probably remember this in the future.

We’re stronger together than we are alone.

Hleath Caer

I spent many years in healthcare, as a technologist, as a manager, and even worked for a major medical equipment company, managing the techs who would demonstrate and teach radiologic technologists how to use the latest, greatest equipment.

I’m glad those days are over–especially my time in management. It was awful enough when hospitals established their own collection agencies–complete with a stable of lawyers, of course. Now, as clinicians try to help patients in the midst of the COVID-19 pandemic, hospital administrations do not help. Instead, they throw up roadblocks.

In some hospitals, health care workers have been forbidden from wearing masks as protection in the hallways.

In at least one hospital, personal protective gear was at a premium, so nurses put up a GoFundMe site and purchased masks, surgical shoe coverings, etc. Rather than appreciating the lengths that the nurses would go to help their patients, one nurse was suspended for distributing the unauthorized products.

We could blame it on the stable of lawyers, but they don’t actually decide. They advise, lean heavily against the possibility of a mega-million dollar hospital experiencing a couple thousand dollar judgement. They do add to administrators’ hesitance about making decisions.

As a former Fellow of the American College of Healthcare Executives with all kinds of letters after my name, here’s my suggestion.

  • If it helps the patients, do it. Combat doctors and medics save many lives doing what needs to be done, not what the book says.
  • If you are not actively involved in patient care, your job is to grease the skids for those who are.
  • If you, or the person most important to you–parent, spouse, child–were the patient, would you want care delayed or withheld because of such stupid reasons?

Oh, and maybe have the administrators, lawyers, etc. assist by having actual contact with patients. They may not be qualified to provide patient care, but they can transport patients, clean and stock rooms, etc. Every other healthcare worker has and probably is doing such tasks today. If administrator and their staff feel it is beneath them, then they are in the wrong business.

C’mon people.

 

 

HEADLINES!

The RMS Titanic and it's passengers | Just another ...

In newspapers, major event headlines were spread across the front page with large type. Day to day major-ish events had headlines in large–but not-so-large–type placed approximately mid-page to the right margin. Lesser events that either deserved front page coverage, or, on a slow news day were better than nothing, went to the left with (yawn) somewhat large type, but so what?

Notice the above. Major margin-to-margin headline, with sub-headlines for supporting stories below, on the right. The left? “Police Order Dorr’s Arrest.” I know the Titanic, but who the heck is Dorr? I Googled Dorr, but unless that Door was an attorney, I struck out.

So, to recap:
Across the Top=IMPORTANT.
Center to right side=Sort of, kind of important.
Left side=Not so much, but we want you to read it anyways.

However, now, in the marvelous 21st century, online news sites place their major stories on the left.

I guess we can claim that as progress.

Rules of Acquisition

The Ferengi appeared as aliens in several Star Trek iterations. They were the ultimate business people who frequently quoted from their 286 rules of acquisition. I’ve heard they were originally planned as the villains for Star Trek: The Next Generation, but came across as more silly than intimidating.

In my favorite interaction, one Frengi asks, “What if this becomes a war?” The other replies, “Rule 34.”

The first responds “Ahhh, war is good for business. But, but, what if it doesn’t lead to war?” The response is “Rule 35.”

“Ahhh, peace is good for business.”

Today there are real Ferengi; not as exotic looking, but every bit as greedy:

  • People pretending to be employees with the Centers for Disease Control and Prevention are knocking on doors, wearing white lab coats, telling residents that they’re testing for COVID-19. Then they rob them.
  • A former White House advisor asked if people staying home to avoid the virus is worth the economic consequences.
  • Senators dumped stocks after being briefed on the coronavirus, but before that information was released to the general population.
  • All kinds of scammers are selling phony medications or religious talismans.

Oh, wait. Rule 14.  “Anything stolen is pure profit.”

Premeditated Twinkie Offenses

I have no inherent dislike or paranoia about guns. I served in a war zone and carried a weapon. I like to go to a range and plunk at targets.

However, there are those today who are purchasing guns to protect their “stuff” in the event of shortages. It’s disturbing to think that anyone would kill another person over a loaf of bread, a side of beef, or a twinkie.* Talk about premeditated murder.

Somewhere around 250-280 AD, there was a pandemic–probably smallpox. The Roman death rate was around 30 percent, but in areas with a Christian presence it dropped to 10 percent. Why? The Romans deserted their sick friends and relatives to avoid catching the disease. Christians, even knowing that they might catch the disease, cared for one another.

 

* These are probably the same people who physically fought their way through the crowd to grab 18 cases of toilet paper.

Sorry, I Don’t Believe in Reality

Well, actually I do, but there are apparently many others who do not. The coronavirus COVID 19 is the current pressing example. People are dying–why wouldn’t you believe in it?

Easy.

If someone has a radio talk show or a podcast that makes money for them, there’s more money in denying reality than accepting it.

KACHING!

As a human being, I am embarrassed. It may not be as profitable, but it is more human to help one another instead of leeching off others’ misfortune.

Form Follows Function – Sort of

There are huge misunderstandings about many of the marvels that inhabit our everyday lives. They were not invented for the purpose that we are led to believe. Instead, they are some kind of cruel joke imposed on us by–well someone, but I’m not sure who.

With all of the labor saving devices we buy, you’d think that we’d be spared from any and all household chores. Instead, we spend as much time washing, cleaning, vacuuming, and cooking as grandma and great grandma did. In fact, the workload has gone up so that it is now expected that both adults devote most their timer at home to the effort.

Each of the following are believed to be labor savings conveniences:

The microwave was invented to encourage people to purchase packaged foods loaded with salt, sugar, and fat.

The crockpot was designed to remove all flavor from food and give it the consistency of soggy cardboard.

Perhaps the most fun the engineers had was with the dishwasher. Although it does clean dishes and cookware, its original purpose was to repeatedly bruise shins.

Now that you know, take appropriate protective measures.

Medical Mayhem

One of the problems with medical issues is that scientists’ and physicians’ assessments must constantly be revised. As additional facts are uncovered, logical conclusions are changed. That is difficult for some people to accept.

For example, 1.2 + 1.2 when rounded is two. However, if additional research adds a mere .1 to the equation, the answer would be rounded up to three. This is how science works.

This is how reality works. This is how life works.

The view of the effects of coronavirus is changing as more data are available.  This is good. This is how the intellectual process works. This is a time for thought, not emotion.

Viruses are unaffected by opinions, polls, or politics. So too are suffering and death. It is by keeping an open mind, examining the facts, re-examining the facts, and focusing on facts that we can progress.

Numbers Never Lie?

Innumeracy (book) - Wikipedia

 

Innumeracy is like illiteracy, only with numbers. There’s a lot of it going around–hopefully it won’t reach pandemic proportions.

I’m not talking calculus, trigonometry, or even  quadratic equations. I’m talking simple, easy, yet important math concepts.

Let’s use round numbers and examine the stock market’s recent actions. Before the coronavirus spooked the market, the Dow Jones Industrial Average was at 29,000 points (rounded). After the virus scare, it dropped to about 25,000 points (also rounded), a loss of 4,000 points.* The loss of 4,000 points in this case is about 14 percent (1- [25000/29000]).

If the market, while at its low point, gains 14 percent  it seem like the market has recovered all its losses. Down 14 percent. Up 14 percent. (14-14=0)

However,  (25000*1.14) = 28,500, not 29,000. It’s still 500 points below its high mark, which is still a loss of 2 percent. It would take an increase of 16 percent to recover all its value.

Well, I found it interesting.

 

*Did you ever try to spend a point? Don’t!

 

The More Things Change, the More They Remain the Same

Jim Bakker is in the news; we’d say again, but he might say finally. Apparently he’s been promoting a coronavirus miracle cure (emphasis on miraculous).

Don’t know who Jim Bakker is? Maybe this will jog your memory.

New York Attorney General Letitia James sent a cease-and-desist order to Jim Bakker Tuesday ordering him to stop promoting “Silver Solution” as a remedy for the coronavirus.

My faith teaches that Jesus will come again, not PT Barnum.

Corona Virus Side Effects

There is a lot of angst regarding the corona virus (COVID-19). Oddly, most news coverage focuses on its impact on the stock market.

The news media, critically important for a democratic society, focuses on stories that sell newspapers, encourage internet clicks, or result in more pharmaceutical advertising during the evening news.

However, it’s best to put things in perspective.

According to the Center for Disease Control and Prevention (CDC) there are now 459 COVID-19 [link] cases in the United States. There was a death  today, which although is regrettable, makes a total of one.

On the other hand, influenza (the flu) has sickened at least 19 million across the U.S. and led to 10,000 deaths and 180,000 hospitalizations. This does not seem as significant because we encounter influenza every year. The Spanish flu in 1918 killed between 50 and 100 million people around the world.

The disease that infects millions and kills thousands is no big deal because we see it every year. A new disease, because it is novel, scares us to (near) death.

I’m not minimizing the potential of the virus. However, COVID-19 has been sensationalized, so the threat and probability of encountering it are more prominent in our mind, regardless of likelihood. Each of is, at least at this point, far more likely to be seriously affected by or to die from influenza, yet we focus on COVID-19.

I wish each of you good health–and a speedy recovery for your equity holdings.

 

Win a House!

St. Jude’s Research Hospital for Children has a very clever method for raising money. Why? Because they do not charge patients for services.

Danny Thomas, the 1950’s television star, was born Amos Jacobs back in Toledo, Ohio (my hometown). He prayed that God would point him to the career God intended. He promised to build a hospital if God answered. God answered. The hospital is St. Jude’s.

Please note that Danny Thomas did not ask for success, only to be pointed in the right direction.

St. Jude’s prime fundraiser, at least around here, is to raffle off a house at $100 per ticket. Apparently, the house is constructed with each trade or contractor contributing their time, effort, and materials. The winner  gets a house and the money goes to the hospital to help the kids.

However, as nice as the house is, St. Jude could possibly double their money if they wanted to. The current house being built here has four bedrooms and three bathrooms–perfect for a young family. However, for this year we did not buy a ticket because we’re trying to downsize.

As we many,, many, many Baby Boomers age, maybe a second house raffle for a single floor ranch would be attractive. I know I’d buy a ticket (or two or three).

Oh, and build it somewhere without covenants, conditions, and restrictions. I don’t want Gladys Kravits isn’t a neighbor. (If you don’t get the reference, you wouldn’t be interested in a single floor ranch.)

Facebook–Say What?

Among many others

Moderators for YouTube must now sign a document acknowledging that they might suffer from post-traumatic stress disorder by reviewing YouTube posts.

Excuse me?

When a website creates stress similar to a combat experience, it’s time to just stop and ask ourselves what the hell we’re doing. We expected Facebook, YouTube, and other social media sites to be an opportunity to share ideas. Now, at best, they share thousands of pictures people take of themselves or pictures of their latest meal. At worst–they post images so disturbing that they can cause PTSD. Something is wrong. Terribly, terribly wrong.

I have a better idea. Make it a policy that postings are hateful, disgusting, or otherwise inappropriate for polite society, the social media site will respect their First Amendment rights, so long as they include their (verified) name, address,cell phone number, photo, and e-mail.

Decent people have no use for a coward.

Life Is Too Complicated

In order to ignore the brouhaha–or is it a kerfuffle–that dominates the news, I will focus my blogs on the curves that life throws at us normal people. Let’s start with parking.

When I started to drive, except for the shopping centers (now called strip malls–or that now outdated?) parking was on the street. In order to park, you had to parallel park. Parallel, as in parallel to the curb.

Parallel parking was part of the drivers license AND the part that everyone feared. It isn’t really all that hard, and on very rare occasions I still get to use my parallel parking skills.

However, things got more complicated. Besides parking spots near the door reserved for the handicapped (logical) and pregnant mothers (also quite logical), there are now reserved spots for customers who are there to pick up an order, employee of the year/month/week/day/hour, etc. In some cases, standard parking is in the next county.

I suspect, but can’t prove that the lines defining parking spots have been moved closer. In any case, many cars–especially SUVs and pickup trucks– occupy every last inch within the lines. This is fine, until you park next to one and try to open your door. I guess that’s why so many vehicles have sunroofs.

Then there’s the final straw–large vehicles with rearview mirrors that significantly extend from the truck body. On a rainy or snowy day, it is possible–although unlikely–to find a good parking spot. This does not necessarily mean that the walk to the door is short. Instead, it is often necessary to walk a circuitous path in order to find a space between cars with enough room to walk without the risk of decapitation by the interlocking mirrors.

Real-Life Rey

With the new Star Wars coming out in about a week, there is a lot of excitement. While there has always been excitement before each new episode, The Rise of Skywalker is expected to answer a lot of questions about Rey, the nobody from nowhere who became the main protagonist (i.e., “hero” without any gender issues) of a beloved story.

We are drawn to stories in which a reluctant and unlikely hero takes on an impossible challenge–it must be hard-coded into our psyche. We see this fascination in both history and legend—David in the Bible, Frodo Baggins in The Lord of the Ring, and most recently, Rey. Wired Magazine commented that Rey is not only a role model hero for young women, but inspires young men as well. That’s not really surprising, given her courage and commitment.

What is common among all these (and similar) tales is that they feature a person who commits to something that they view as important—more important than themselves. Maybe we all wish that we would find some cause so compelling that we would commit ourselves totally .

There are about 8 billion people on earth; nearly 200 sovereign states; millions of corporations, businesses, churches and other organizations. Do they present us with the real-life Reys? Not so much.

However, thank God, we have at least one.

Greta Thunberg on Twitter: "“Now I Am Speaking to the ...

 

Social Media

I apologize for not responding to friend requests for Facebook, LinkedIn, etc. I like sharing ideas, but the blog is a forum I can (somewhat, allegedly) control. If someone leaves a comment, I do not sell or share anyone’s information with anyone else.

Other social media platforms? Not so much.

So why do I not reply?

Okay. Let me explain. (I tried to do this as a knock-knock joke, but failed).

Q: “What’s the difference between a colonoscopy and Facebook?”

A: “Both involve more information than you would ever share, but your colonoscopy is protected by HIPAA privacy protection; Facebook will share anything with anybody,” n’est-ce pas?