The first day of summer, a very busy first six
months of 2019 has ended, now it is time to relax, do some writing, shank a few
golf shots, enjoy the summer ahead, and have a few barley sandwiches.
SUMMER TV – One of the best things
about summer is to watch television shows on my bucket list. Here is one:
“Columbo” starring Peter Falk, the detective who on the outside is an unorganized,
rumpled detective but in fact he is a Sherlock Holmes in solving tough cases.
Season 1, Episode 1 (September 15, 1971); “Murder by the Book”. The first
Columbo (after two pilots), directed by Steven Spielberg and written by Steven
Bochco (names sound familiar). A classic Columbo, I recommend it (You Tube or Amazon
Video).
Falk received a master’s degree in public administration from
Syracuse University and was working in Connecticut as a management analyst
when, in his mid-twenties, he decided to take a chance on an acting career. The
rest is history.
SUMMER EATS - Minty Zoodle
Salad with Radishes and Feta Salad
Spiralized zucchini takes the place of cucumber in this classic
salad combo. Try it alongside grilled chicken or fish. Add a nice bottle of Oso
Libre 2015 Osezno Zinfandel and you are set.
Ingredients
3 tablespoons olive oil
1 1/2 tablespoons white wine vinegar
1 small clove garlic, minced
1/4 teaspoon salt
1/4 teaspoon freshly ground pepper
1 large 2 small zucchini, spiralized (about 12 ounces total)
10 radishes, thinly sliced
1/2 cup crumbled feta cheese
1/3 cup chopped fresh mint
2 tablespoons chopped fresh dill weed
Directions
For dressing: In the bottom of a large bowl, whisk together olive
oil, vinegar, garlic, salt and pepper. Add spiralized zucchini, radishes, feta,
mint and dill. Toss gently to coat.
SUMMER READING LIST FOR “REAL” MANAGERS –
A Good Place to Start
Driving Digital Strategy - Sunil Gupta explores how traditional
businesses can make the leap into the digital age.
American Capitalism: New Histories
Historians are taking a new look at capitalism in light of its
adoption in most of the developed world. Sven Beckert and Christine Desan dive
into the evolution of these new historic perspectives.
The Fearless Organization
To do their best work, people need to feel secure and safe in
their workplace, argues Amy C. Edmondson.
Rebel Talent
Francesca Gino argues that companies should encourage rebellion in
their workplaces. Quiz: Discover what type of rebel you really are.
Being the Boss: The Three Imperatives for
Becoming a Great Leader
Linda Hill explains how the digital workplace is generating
greater burdens on managers but also creating new opportunities to shine.
Unlocking the Customer Value Chain
Technology doesn't drive disruption—customers do, writes Thales
Teixeira.
The Business of Platforms: Strategy in the Age
of Digital Competition, Innovation, and Power
David Yoffie and colleagues reveal the principles that have made
platform businesses the most valuable firms in the world and the first
trillion-dollar companies.
SUMMER
COLLEGE CHRONICLES
– An Ohio bakery that sued Oberlin College for libel over accusations of racism
has been awarded a total of $44 million in damages.
The family
behind Gibson’s Bakery sued the liberal arts institution and a school
administrator after the Oberlin bakery was the focus of protests following the
arrest of three black students involved in a November 2016 shoplifting
incident. The three students later pleaded guilty to misdemeanor charges.
A Lorain
County jury on Thursday awarded Gibson’s Bakery $33.2 million in punitive
damages. Last week, that same jury awarded the bakery, which was founded in
Oberlin in 1905, $11 million in compensatory damages.
The actual
punitive damages awarded in the case will likely be reduced to around $22
million because Ohio law caps punitive damages to no more than twice that of
compensatory damages.
In its
lawsuit, the bakery said student protests outside its store and a flier that
claimed the business “is a racist establishment” had a “devastating impact” on
both the bakery and family.
The bakery
accused Oberlin Dean Meredith Raimondo of not only distributing a flier urging
the boycott of Gibson’s Bakery, but also using college-owned copiers to print
the material. At one point, the college ended its catering contracts with the
bakery, though it later resumed those.
In an
emailed statement sent to Oberlin students and alumni Friday morning, President
Carmen Twillie Ambar wrote that the legal process was far from over. “Let me be
absolutely clear: This is not the final outcome,” she said. “This is, in fact,
just one step along the way of what may turn out to be a lengthy and complex
legal process.”
Donica
Thomas Varner, vice president and general counsel for Oberlin College, has said
neither the college nor the dean defamed Gibson’s Bakery or its owners, nor had
they endorsed statements made by others.
“As we
have stated, colleges cannot be held liable for the independent actions of
their students,” Ms. Varner wrote in an email to the Oberlin community last
week.
BIRTHDAYS
THIS WEEK – Birthday wishes and thoughts this week to Marv Albert (78), Jim
Belushi (64), Jeff Dillon ….pride of Renfrew Ontario, Sir
Paul McCartney (77).
TRANSPARENCY 101 - The California
State University system accumulated a surplus of more than $1.5 billion over
the last 10 years, but the system hid the money from the public and students,
according to the state’s auditor.
POLITICS 101 - The
behind-the-scenes competition for Wall Street money in the 2020 presidential
race is reaching a fevered peak this week as no less than nine Democrats are
holding New York fund-raisers in a span of nine days, racing ahead of a June 30
filing deadline.
The three candidates "generating most of the buzz": Joe
Biden, Sen. Kamala Harris and Pete Buttigieg.
Those who care most about picking a winner are gravitating toward
Mr. Biden and Ms. Harris, while donors are swooning over Mr. Buttigieg enough
to open their wallets and bundling networks for him.
HERE WE GO AGAIN - 2020 WATCH -- THE DEBATE STAGE: NBC has released the order for the
first two Democratic presidential primary debates, to be held June 26 and 27 in
Miami: The 10 participants for each night were selected in a drawing at NBC
News' headquarters at 30 Rockefeller Plaza on Friday. The podium placements
were based on each of the candidates' qualifying public polling through
Wednesday, June 12. The placements started with top polling candidates
beginning at the center positions, with lower polling contenders being placed
closer to the edges of the state. Candidates who were tied in the polls were
ranked based on the overall number of qualifying polls. The order -
NIGHT ONE: from left to right: Bill
de Blasio, Tim Ryan, Julián Castro, Cory Booker, Elizabeth Warren, Beto
O'Rourke, Amy Klobuchar, Tulsi Gabbard, Jay Inslee, John Delaney.
NIGHT TWO: Marianne Williamson, John
Hickenlooper, Andrew Yang, Pete Buttigieg, Joe Biden, Bernie Sanders, Kamala
Harris, Kirsten Gillibrand, Michael Bennet, Eric Swalwell.
It will be interesting to see the youngest candidate in the race,
Buttigieg (37), standing beside the two oldest, Biden (76) and Sanders (77).
JACK ASS OF THE MONTH - O.J. Simpson, 71, launched a Twitter account (@TheRealOJ32)
with a video post saying he's got a "little gettin' even to do.”
"I've got some things to straighten out," he said.
His televised "Trial of the Century" lasted nearly a
year and became a national obsession. He was acquitted by a jury in 1995 and
has continued to declare his innocence. The murder case is officially listed as
unsolved.
The families of the victims subsequently filed a civil suit
against him, and in 1997 a civil court awarded a $33.5 million judgment against
him for the wrongful deaths of his ex-wife and Goldman. Some of his property
was seized and auctioned but most of the judgment has not been paid.
Simpson declined to discuss his finances other than to say he
lives on pensions.
Welcome back O.J. to our Jack Ass of the Month, we missed you.
SIGN OF THE TIMES - In recent weeks, Illinois and New York have introduced bills
that would allow in-person sports betting at sports stadiums and arenas.
The Chicago Cubs are considering opening a sportsbook inside and
outside of Wrigley Field.
The teams would outsource the actual bookmaking, as that would be
considered a conflict of interest. So, they'd basically be operating sports
betting lounges. Think TVs, couches and kiosks.
Sports venues are among the most underutilized pieces of real estate
on Earth. NBA teams play 41 home games per year, NFL teams play just eight, and
when you go to those games, it's not like they let you hang out. Here you have
this immaculate structure and they're ushering you out the door.
Once in-stadium betting arrives, it could transform the game-day
experience, giving fans a place to congregate before and after the game as
opposed to, say, the bar across the street.
Even those without tickets would likely be drawn to the on-site
sports book, which would presumably be accessible from outside and could spawn
additional investment in the surrounding area (restaurants, shopping).
Imagine Madison Square Garden — in the heart of midtown Manhattan
and located atop the busiest railroad station in the Western Hemisphere — repurposed
as the world's largest sportsbook. Stay tuned.
BAD AIR - After decades of
improvement, U.S. air quality slipped the last two years.
There were 15% more days with unhealthy air in America both last
year and the year before than there were on average from 2013 through 2016, a
period when America had its fewest number of such days since at least 1980.
Scientists amazed as Canadian permafrost thaws 70 years early: Permafrost
at outposts in the Canadian Arctic is thawing 70 years earlier than predicted,
... in the latest sign that the global climate crisis is accelerating even
faster than scientists had feared.
ON THIS DATE - Today marks 41 years since the debut of the
comic strip "Garfield," which later set a Guinness World Record for
the most widely syndicated comic strip.
WEEK THAT WAS - All of the ice
in Greenland could be lost within the next millennium, a new study finds.
One of special counsel Robert Mueller's top prosecutors is writing
a book for Random House focused on his work during the Russia investigation.
Rep. John Lewis weighed in on Joe Biden's recent comments, saying
he didn't "think the remarks were offensive."
Russian-born real estate developer Felix Sater failed to show up
for his closed-door testimony before the House Intelligence Committee today.
Now faces a subpoena.
Elizabeth Warren released a policy proposal to ban private prisons
and detention facilities.
MARKET
WEEK - You can stop holding your breath: The Federal Reserve is keeping
interest rates unchanged, but officials hinted at possible rate cuts if the
economy starts to slide.
The difference one word makes: The Fed got impatient using the
word “patient,” saying instead it'll “act as appropriate” to sustain the U.S.’
economic expansion. That gives the Fed breathing room on policy decisions, but
it suggests lower rates could be around the corner.
But not the immediate corner. While eight Fed members said they
expect rate cuts before 2019’s out, another eight aren’t projecting any this
year.
Their median forecast suggests 1–2 cuts in 2020.
Looking ahead...take a deep breath, then hold it until the Fed’s
next meeting July 30–31. We expect President Trump to keep lobbying for a rate
cut (which would bring back some easy money vibes of yesteryear).
- America's 25 least affordable housing markets: California home to 17 of them.
Housing affordability in the United States is getting worse, with
some experts even calling it a crisis. According to a new housing report,
median home prices in the first quarter of 2019 were not affordable for average
wage earners in over 70% of the nation’s largest counties.
The report, published by real estate market database ATTOM Data
Solutions, found that nearly half of the nation’s major housing markets are
less affordable than their historic averages. While that is an improvement from
over three-quarters as of the last quarter of 2018, it still is far from ideal
for the people in those places seeking to buy a home.
Nationwide, the current income needed to buy a typical home
exceeds $60,000, well above the incomes of the majority of American households.
Stocks are sitting pretty heading into summer. The S&P 500 has
advanced 7.3% so far this month. It’s heading toward its best June since 1955.
PIN: 2 - 0 - 1 - 8 - Moody’s Investors Service said last week that the 928
U.S.-based, non-financial companies it covers claimed $1.7 trillion in cash and
liquid investments at the end of 2018.
That’s an eye-popping number. But it’s also down 15.2% from a
record $2 trillion in corporate cash a year earlier.
2018’s drop in cash hoards serves as a master class in chain
reactions. Cash piles shrank because companies funneled record amounts toward
share buybacks, M&A, dividends, and capital spending…
And all that happened because of the late-2017 Tax Cuts and Jobs
Act. The tax overhaul dropped levies on foreign income so companies could put
it to use instead of letting it collect dust in European banks like Gringotts.
And put it to use they did. Last year, capital expenditures leaped
12% to $851 billion, dividends climbed 6.7% to $412 billion, and net share
buybacks almost doubled to $467 billion.
The top five cash-holders last year—Apple, Microsoft, Alphabet,
Amazon, and Facebook (heard of ’em?)—held 33% of the total balance in 2018.
Apple alone laid claim to 14.5%, a balance larger than the aggregate amount for
every other non-tech U.S. sector.
Before the tax overhaul…U.S.-based companies had slowly built up
giant cash reserves in foreign countries, keeping profits at arm’s length from
the frightful 35% corporate tax they faced when bringing it home.
Then in 2017, changes in the tax code opened the floodgates for
what’s known as “repatriation.” The Commerce Department said companies sent
$664.9 billion in foreign earnings back to the U.S. as dividend payments in
2018, up from $155.1 billion a year earlier.
Looking ahead...Moody’s Point is that companies will continue to
put money to use paying down maturing debt, boosting buybacks, and upping
dividends until there’s a reason not to. Look for those piles of to keep
shrinking.
CONGRATS ST. LOUIS BLUES - Congrats to the Blues and our St. Louis readers on your first
Stanley Cup victory. We regret ever betting against you. And this has got to
hurt, Boston fans...you have to wait an entire four months for your next
parade.
Also, congrats to this lucky son of a gun who bet $400 last
January at the Paris Casino for St. Louis to win the Stanley Cup.
NHL Teams with No Stanley Cups
The NHL teams that never won the Stanley Cup represent most
regions of the United States and western Canada. The year they joined the NHL
is in parentheses.
Buffalo Sabres (1970-71) The Sabres have been to the Stanley Cup
Final twice, losing to the Flyers in 1975 and Stars in 1999.
Vancouver Canucks (1970-71) The Canucks have been to the Stanley Cup
Final three times, losing to the Islanders in 1982, the Rangers in 1994, and
the Bruins in 2011.
San Jose Sharks (1991-92) The Sharks played their first Stanley
Cup final in 2016 but lost to the Pittsburgh Penguins.
Florida Panthers (1993-94) The Panthers have been to the Stanley
Cup Final once, losing to the Avalanche in 1996.
Winnipeg Jets/Phoenix Coyotes (1996-97) The Coyotes have made one
appearance in the Western Conference Final but have never played in a Stanley
Cup Final. As the Winnipeg Jets (1979-1996) the team never made it further than
the second round of the Stanley Cup Playoffs.
Nashville Predators (1998-99) For the first time in franchise
history, the Predators won a Stanley Cup Playoff series in 2012. The team was
eliminated in round two. They made it to the Stanley Cup Final in 2017, losing
to the Pittsburgh Penguins.
Atlanta Thrashers/Winnipeg Jets (1999-2000) The franchise has
never won a Stanley Cup Playoff series.
Minnesota Wild (2000-01) The Wild have made one appearance in the
Conference Final but have never played in a Stanley Cup Final.
Columbus Blue Jackets (2000-01) The Blue Jackets have never won a
Stanley Cup Playoff round.
Vegas Golden Knights (2017-18) The Golden Knights made it to the Stanley Cup Final in their
inaugural season, losing to the Washington Capitals, who won their first Cup
that year.
SWAMI’S WEEK
TOP PICKS
–
MLB Game of the Week – Saturday 6/22 7:15 PM ET, Fox: Three teams
have a shot at winning the 2019 World Series; Los Angeles Dodgers and the two
teams playing at Yankee Stadium this weekend. Houston Astros (48-28) vs. New
York Yankees (47-27). Yankees are hot, Astros are not – Yankees win…the Yankees
win, 6 – 4. (Season to Date 1-1)
WOMEN FIFA WORLD CUP – World Cup Final: Germany vs. United States, USA wins 2-0.
2019 Season
to Date (15 - 12)
THE ST. LAWRENCE UNIVERSITY HOCKEY – Dave Yoshida (’73) sent out an email this week writing about the
passing of Glenn Johnson (’74).
Glenn was one the true St. Lawrence Hockey
characters of the 1970’s. I was a freshman at St. Lawrence when I first met
Glenn. It was at a SAE Fraternity smoker, I was a typical freshman, no clue
what was going on, only that there was free beer so here I was. I was sitting
there with my roommate, Bill Reid (’76) when this fellow with an open Hawaiian
shirt walks up to us and says, “I hear you guys play hockey, who in the _____
are you?” “They call me H-Wood.” We proceeded to tell him we were hockey
players from the U.S. H-Wood said; “Great, we need some young fellas to kick
their ass in practice.”
From that point on Glenn “Hollywood” Johnson was a
great friend and teammate. Glenn went on to play three years of professional
hockey in Fort Worth, Texas and Erie, Pennsylvania. He stayed in touch over the
years and was always a great storyteller. He will be missed.
Next Blog: Summer
movies and summer travel.
Until
next time, Adios
Claremont,
California
June
21, 2019
#IX-23-391
3,152
words, seven minute read
CARTOON OF
THE WEEK – “ CREEP” Pat
Bagley
RINK RATS
POLL –
My candidate for the 2020 Democratic
Presidential nomination, as of today is….
____ Joe Biden
____ Cory Booker
____ Pete Buttigieg
____ Larry David
____ Kamala Harris
____ Bernie Sanders
____ Elizabeth Warren
____ Opray Winfrey
____ Other
QUOTE OF THE
MONTH
– “Statistics are like bikinis; they show a lot but not everything.”
—Lou Piniella
Rink Rats is a blog
of weekly observations, predictions and commentary. We welcome your comments
and questions. Also participate in our monthly poll. Rink Rats is now viewed in
Europe, Canada, South America and the United States.
Posted at Rink Rats The Blog: First Published – May 3, 2010
