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Tuesday Morning: Chasing the Clouds Away

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Hope by this afternoon all the major thoroughfares are clear and transportation nearly back to normal along the east coast. You’d think by now we’d have developed and installed self-maintaining highways that melt ice and snow, right?

For now, let’s dig.

A former Goldman Sachs exec parts company with CenturyLink
They called it “creating an environment that was unproductive,” and maybe it was — a diversified telecom organization may not be a great fit for an investment banker, leading to some less-than-productive discussions. But a nearly unanimous vote said Joseph Zimmel, retired GS exec, should not apply for re-election to CenturyLink’s board of directors. Wonder if the rumored-but-not-completed acquisition of Rackspace had anything to do with this rocky situation?

Retail Mixed Bag: Wal-Mart retrenches, Staples rethinks, Shoes.com kicks butt
The Arkansas-based retailer is closing up its 102 Wal-Mart Express stores, as well as a few of its full-sized stores. Were the smaller stores simply too much overhead, or were they cannibalizing sales from larger stores, or did Amazon finally cut into Wal-Mart’s sales enough that Wal-Mart needed to reduce?

Staples, one of the two largest big box office supply retailers, changed up some of its senior management while indicating it may back out of its proposed merger with the other mega office supply retailer, Office Depot. The merger has not received approval yet from the USDOJ. This unresolved deal may be a bigger liability in terms of expense by now, especially when all retail sales have slowed down.

Shoes.com is looking for cash to make some acquisitions. This Canadian online shoe retailer is bucking the retail trend with a strong uptick in sales in spite of stiff competition from Zappos and Amazon.

All three retailers mirror a turn-down in consumption — even Shoes.com. If retail was doing well, there’d be less need to close brick-and-mortar stores or buy up market share.

Six GOP Senators suck up to ISPs while annoying broadband users
Quel surprise: a handful of GOP Senators sent a letter to the FCC saying that standard broadband speeds are arbitrary, and most users don’t need the current baseline speed.

I’d like to know why some tech media won’t name names. Fortunately, The Hill listed the signatories. Senators Roy Blunt (MO), Steve Daines (MT), Deb Fischer (NE), Cory Gardner (CO), Ron Johnson (WI) and Roger Wicker (MS) wrote,

“Looking at the market for broadband applications, we are aware of few applications that require download speeds of 25 Mbps … Netflix, for example, recommends a download speed of 5 Mbps to receive high-definition streaming video, and Amazon recommends a speed of 3.5 Mbps.”

The stupid, it burns almost as much as the visible corporate whoring. Like nobody in their world has multiple users in a household sharing service or online gamers or emerging technology which does need increasingly higher speeds. Hope these folks aren’t on committees for cybersecurity issues — wait, what? Every one of these six dipschitz is on the Senate Commerce Subcommittee on Communications, Technology, Innovation, and the Internet. ~screaming into pillow~

I can’t with this. I must change gears or go insane. Keep the wheels on the road, kids.

Latif, the NDAA, and Mitt’s Moochers

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Amy Goodman is doing a 100 city tour to support public outlets that carry Democracy Now. She also gave a talk about the importance of independent media at Grand Rapids Community Media Center.

And, she had me–live!–on her show.

Man I’ve got a lot of hair!

The Quarter Billionaire’s $9 Jobs

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Fairly early in Mitt’s speech last night he said this:

But today, four years from the excitement of the last election, for the first time, the majority of Americans now doubt that our children will have a better future.

It is not what we were promised.

[snip]

It’s not just what we wanted. It’s not just what we expected.

It’s what Americans deserved.

You deserved it because during these years, you worked harder than ever before. You deserved it because when it cost more to fill up your car, you cut out movie nights and put in longer hours. Or when you lost that job that paid $22.50 an hour with benefits, you took two jobs at 9 bucks an hour and fewer benefits. You did it because your family depended on you. You did it because you’re an American and you don’t quit. You did it because it was what you had to do.

But driving home late from that second job, or standing there watching the gas pump hit 50 dollars and still going, when the realtor told you that to sell your house you’d have to take a big loss, in those moments you knew that this just wasn’t right.

But what could you do? Except work harder, do with less, try to stay optimistic. Hug your kids a little longer; maybe spend a little more time praying that tomorrow would be a better day. [my emphasis]

The passage is fundamentally important to the logic of the speech–and indeed, Mitt’s entire campaign–both because it pretends Mitt understands the struggles of average people and because it suggests Obama failed to deliver on Hope and Change.

And at the core of the passage are $9 jobs that don’t pay enough to live on.

Which is funny, because just a few hours earlier, the Founder of Staples, Thomas Stemberg, bragged about Mitt’s role in this:

The truth is Mitt was not a typical investor. He was a true partner. Where some saw an unproven new business, he saw a store that could save people money. He recognized that efficiency creates consumer value. He never looked at Staples as merely a financial investment. He saw the engine of prosperity it could become.

Today Staples employs nearly 90,000 people. It has over 2,000 stores. Over 50 distribution centers.

The average self-reported hourly wage of a Staples EasyTech Associate is $8.89. The average self-reported hourly wage of a Staples Sales Associate is $8.54.

Those jobs Mitt talked about as a symbol of America’s failed promise, the ones that don’t pay a living wage? That’s what Mitt’s campaign boasted about last night as his idea of an “engine of prosperity.”

And it was an engine of prosperity, for Mitt, for Stemberg. Mitt’s worth at least $250 million. Stemberg is reportedly worth $202 million. And they got that money by running an engine of prosperity that relies on workers who are Mitt’s own example of the failure of the American dream. “This just wasn’t right,” Mitt said himself. Read more →