Wednesday, August 7, 2024

Warner Brothers-Discovery To Cut 1000 Jobs

The paradigm of home entertainment has changed dramatically, according to this John Nolte piece. Technological advances make events like this inevitable and ever more frequent. 

One of the most interesting aspects of the Warner Bros./Discovery problem is not so much the changing circumstances of the business but instead those who run it. In this case that would be CEO David Zaslav, one of the highest paid executives on the planet. His contract to lead the combined operation, signed in 2021, includes an annual salary of $3 million with an annual signing bonus of $22 million and stock options with a value of $190 million.

In the past year WBD share prices have fallen from $13.16 to $8.67 today, a drop of 34%.

 Discovery CEO David Zaslav Teases Direct-to-Consumer Future - Variety

variety.com 

Maybe the share holders of WBD should be happy that this certified genius has kept the video service from becoming the modern equivalent of the Morse code telegraph and rejoice in the fact that he's willing to put in the time and effort needed for such small compensation.

In fact, maybe Zaslav would be the ideal pick to be the next Democrat candidate for US president, despite the need to take a huge pay cut, since he's already a significant donor to Dem causes. A ticket made up of Zaslav and George Clooney would be tough for the GOP to match. 

Update: As of August 6, Warner Bros. Discovery has posted a second quarter net loss of $9.9 billion or $4.07 per share and shares in the company dropped 9.2% in aftermarket trading.     

Tuesday, August 6, 2024

EV Charger Hogs

The issue of EV journeys being extended by long waits for access to charging stations has emerged from the possible to the inevitable, as shown here. This has been a concern from the beginning and the slow construction of charging stations hasn't seemed to improve the situation. A multi-billion dollar federal program hasn't accomplished anything either.

A 50kw public charger is supposed to be able to bring the battery charge of a Tesla Model Y from 20% to 80% in about an hour, if it's available. Due to the lack of charging facilities, waiting in line for your turn at juice replenishment must be added to the time required.

Long Lines For Tesla Chargers Show We Need Better EV Infrastructure screenrant.com

This is diametrically opposed to everything the private automobile stands for and Americans expect and demand in every area of life. Speed, no waiting, no queuing, is the standard in everything from grocery shopping to hamburgers to bank transactions to funeral visitations. The idea that Yankees will happily interrupt  their trip to sit in a line and listen to Sirius radio while the offspring belted into child seats in the back scream and tear at each others hair is preposterous. Of course this assumes that there will be offspring. One balm to the situation will be the omnipresent smart phone. Stationary drivers will be able to while away the time doing business or chatting with friends and lovers as electronic potential oozes into their batteries. Small consolation, they can do that while the car is in motion.

Just the same, everything considered, it seems unlikely that impatient Americans will entirely change their attitudes toward time, their time, in order to accommodate the wishes of the electro-fixated climate anxious.  

 

  


 

Sunday, August 4, 2024

100% of Minnesota's Energy To Be Carbon-Free By 2040

Or so the scientists that make up the elected government say. Part of this dream is the billion dollar upgrade of a transmission line from  Center, North Dakota to Duluth suburb, Hermantown, Minnesota. The consumers of the CO2-free power that will be carried by the government mandated new and improved system are inhabitants of one of the least densely populated areas in the country but will ultimately be required to pay the cost of the project. The date 2040 is only 15 years into the future so the action better start soon.

As usual, the Whigs tout one of the major benefits of the program, clean energy employment, not just for bureaucrats and hyper-capitalist entrepreneurs, but for the lowly blue collar dolts that will be hustling for a weekly paycheck during the construction phase and presumably able to save enough to pay their electric bill during their golden years.

 High End Transmission Towers Manufacturer and Supplier- Utkarsh Indiautkarshindia.in

Friday, August 2, 2024

From The Las Vegas Review-Journal

 

Running a Las Vegas casino (or several casinos) is no small feat, and the executives in charge of those operations are paid handsomely for their efforts.

Based on a review of available data filed by publicly traded companies involved with gaming, executives overseeing Las Vegas casinos are doing quite well financially. When bonuses, stock options and other forms of variable compensation are included with annual salaries, most Las Vegas casino bosses are taking home millions of dollars each year.

Here is a list of what some of the top Las Vegas casino executives earned in 2023, according to corporate filings with the U.S. Securities and Exchange Commission.

— Robert Goldstein, CEO of Las Vegas Sands Corp. - Base salary: $3 million; Total compensation: $21.9 million

— Thomas Reeg, CEO of Caesars Entertainment - Base salary: $2 million; Total compensation: $18.6 million

— Bill Hornbuckle, CEO of MGM Resorts International - Base salary: $2 million; Total compensation: $17 million

— Craig Billings, CEO of Wynn Resorts - Base salary: $2 million; Total compensation: $16.2 million

 — Jay Snowden, CEO of Penn National Gaming - Base salary: $1.8 million; Total compensation: $15.5 million

— Keith Smith, CEO of Boyd Gaming - Base salary: $1.55 million; Total compensation: $11.4 million

— Robeson Reeves, CEO of Bally’s Corp. - Base salary: $1.1 million; Total compensation: $4.54 million

— Blake Sartini, CEO of Golden Entertainment - Base salary: $1.05 million; Total compensation: $6.1 million

— Frank Fertitta III, CEO of Red Rock Resorts - Base salary: $1 million; Total compensation: $3.5 million

The Review-Journal is owned by the family of Dr. Miriam Adelson, the majority shareholder of Las Vegas Sands Corp.

Thursday, August 1, 2024

Measuring Intelligence

Measuring the intelligence of individual humans and groups of them has been a project of sociology and psychology for some years. Measurement implies a numerical scale, like shoe size. But a problem for social work and psychology is that it's very difficult to validly  enumerate intelligence in any empirical way. This leads to the conclusion that social science can't really be a science, like physics, chemistry, and engineering  which are dependent on mathematics. Using tests to determine intelligence is an attempt by social science to be a real science, based on numbers, and treat the inferiority complex that affects the social sciences and humanities.

In reality, intelligence can't be enumerated because it's a "quality", not a sum, like the color of a horse. Horses can be sorrels, bays, roans, pintos, etc. but it's not possible to describe the hue of a horse in numbers. Like humans, no horse has an identical appearance to any other horse so a description is, of necessity, somewhat general. This same goes for human intelligence.

While there's some speculation that environment determines a portion of a human's intelligence, it's generally agreed that genetics is a major factor. Genetics are likely the source of the most important qualities that shape intelligence.

What are these qualities? One of them, maybe the most important, is curiosity. Intelligent people want to know more about things, to understand them at a deeper level. They don't accept superficial explanations. Curiosity would probably be difficult to teach.

A second quality is creativity. Intelligent people look at a situation or a problem and take different approaches to its opportunities and solutions. These conditions often exist solely because no creative person has been able to analyze them in an intelligent manner. Non-creatives consider the correct response to be one that has been used in similar situations in the past. Isn't there a proverb "Insanity is doing the same thing over and over again and expecting a different result"?

Another important characteristic of intelligence is patience, a quality that's in short supply in today's developed world. Intelligent people realize and accept that many things can't happen instantly. They're also willing to postpone a decision or action until knowing as much as possible about the situation. Another common proverb: "If there isn't enough time to do it right, why is there always enough time to do it over?" The hypercapitalist consumer culture, where instant access to the product is more important than it's suitability or quality, is a major selling point and ingrained in society. On-line sales of event tickets eliminate a few minutes in a queue, minutes that could be used for what?

Intelligent people are also diligent: "Prosecuted with careful attention and effort; careful; painstaking; not careless or negligent."  The American Heritage® Dictionary of the English Language, 5th Edition  They understand that a careless and ill-thought approach can result in failure or even disaster.

There are other attributes that distinguish the intelligent from the stupid but these are primary. Children should be encouraged to spend more time thinking about the things around them, how to approach difficulties, the process of problem solving and making the qualities of intelligence a part of their lives and personalities. Such should be the duty of a good parent.

  

 

Environmental Advocate Paychecks

Here is a link to the financial compensation of the most important figures in the environmental movement.  Take a look at it.

Environmental Working Group

The Environmental Working Group is an organization now devoted to changing the mechanism of American agriculture in a way that will alleviate the global climate crisis that the world faces today, in this case through modifications to the 2024 Farm Bill being put together by the US Congress.

The directors of this operation include:

Brandon Beck

Brandon Beck, co-founder of Riot Games, the developers of the wildly popular League of Legends video game.

 Natasha Beck

Natasha Beck, his wife. 

 Ken Bio Image

Ken Cook, the co-founder and president of the EWG, considered one of the most effective lobbyists in the DC legislative influence industry. Total compensation in 2022 in his role was $357,378.

Dr. Harvey Karp

Dr. Harvey Karp, CEO of Happiest Baby, Inc. and a faculty member at the Keck School of Medicine at USC and a fellow of the American Academy of Pediatrics. His wife, Nina, is also a director of EWG.

Michelle Pfeiffer is Back (as if She Ever Left)

financeyahoo.com

Michelle Pfeiffer, actress.

 Laura Turner Seydel

Laura Turner Seydel, Chair of the Captain Planet Foundation, co-founder of the Chattahoochee Riverkeeper, board member Waterkeeper Alliance, co-founder Mothers and Others for Clean Air, board member of Project Drawdown, Patron of Nature with the International Union for Conservation of Nature. Other organizations she serves include the United Nations Foundation, Nuclear Threat Initiative and the Turner Endangered Species Fund. She is a member of Atlanta Rotary and serves as the current chair of the Carter Center board of councilors and on the advisory board for the Ray C. Anderson Foundation.

 

Kim Rozenfeld, executive in charge of programming at the Apple TV streaming business.

There a number of others on the board of EWG, none of whom seem to have any real familiarity with agriculture or climate science but do have positions that enable them to influence those around them. Perhaps this is how a merit-based democratic system is supposed to work. Who needs elections when the self-appointed elites are in charge?