Bonuses Redux

Obama is wrong and right.  Multimillion dollar bonuses to decisionmakers who failed miserably so badly managing their financial companies is ludicrous.  Eliminating bonuses for the majority of other employees is criminal.  Imagine the factory floor worker who has a spotless record showing up on time, doing his job efficiently and effectively.  Imagine that worker told when he gets his check, sorry we are not paying you extra for overtime, because sales are down.  Because we had you making the wrong product, and it was poorly designed and costs to much also, sorry for that.  And than imagine those same decision makers giving themselves bonuses.  That is where President Obama hit the nail on the head.  Any leader, political, military, or business who takes for himself at the expense of those he/she leads should esxpect no loyalty.  In fact he/she should be tarred feather and run out of town on a rail. Well we don't do that anymore and that's a pity.  That leader is destroying the organizaiton.  We have all heard the stories of soldiers who will follow a particular officer into deadly danger because they have seen he "takes care of his men first"  they eat before he does, they have shelter before he does, they see him accepting the same privations they suffer.  To add a big dollop of salt into the wound, the public excuse offered is "maintaining value of the franchise". News Flash, the franchise is worthless without the loyalty  of those who do the work.  Shame on those who betray the people they lead.    

the Vatican and the Holocaust

A published interview in the NY Times reveals the Vatican says it did not know it was revoking the excommunication of a holocaust denier until after the fact.  Expectations they would look at the public pronouncements of those it is considering welcoming back into the fold sound reseasonable but did not happen.  Various Jewish groups are angry, seem to feel betrayed a Pope they took at his word that improving Catholic Jewish relations were a priority.  Mistakes happen, everywhere, all the time, despite all our best efforts to avoid them.  We look for the issues and obstacles in our way, and try to overcome them.  Meanwhile we can miss what is right at our feet and trips us up.  I have no ideas how the Pope will address the apparent conflicts his decision creates.  The Vatican does not rush, takes time to deliberate on situations.  To anyone who cares, lets all take a deep breath and see how the Vatican responds the protests of Jewish Groups and the knowledge it now has about newly minted Bishop Richard Williamson.  Don't expect anything today or tomorrow.  Lets wait and see 

Talking in a line to pay bills

Standing in line to pay a bill, I started talking with the grey haired guy behind me.  His take on the current "depression" as he called it, compared to the 1930's was.  Last time the big guys got hurt first  and worst.  They were the ones jumping out of windows.  His father had told him all about it.  This time, he said it is the little guy hurt more than the big guy.  I am not sure if satistics support this view.  From what I have read, the little guy got hurt worse than the "big guys" last time. We did both agreed the work Obama was doing was the best hope we had.  But if thinkgs get worse, his view that it is us against "them, the big guys" who have casued the probelm and somhow are not paying for their mistakes, may grow.  If that happens our political system will be susceptible to demagogy.  A desparate, resentful, angry population can be turned to extremist views.  We saw this in the 30's.  I beleive on the evidance and the faith I have in our president that he will lead us out of this.  It won't be quick, easy, efficient, or mistake free. Criticism of the current 850 billion bailout which focuses on elements amounting to less than one half of one percent are illogical and foolish.  Shoot the dog because it had a flea.  Come on! Sure lets try to do this perfectly.  But lets not destroy out chance for recovery because we found a flea on the dog.  His failure could very well be catastrophic for our nation.  

It's Snowing

God I love a snowfall.  I can remember sitting in my first grade classroom at the Eagle Avenue School watching the snow fall and cover the trees, the dirt and the sparse grass of the school playground.  The greens and browns slowly submerged under the falling smooth white.  That day, that few minutes, life seemed so calm and peaceful, so far from the classroom hurly-burly.  I have seen many many snowfalls in the fifty plus winters since that day.  But even so, if I look away from the problems, the issues, the worries, the fears, the life I wear now, if I look out the window at the snow coming down.  If I watch for a little  the trees, the ground  covering with snow, I can reclaim a little of that same peace from long ago.

It's not a bonus

Insularity - when we loose awareness of the wider world.  Wall St. Bonuses, the wider world sees greedy selfish employees getting a lot of money as reward for loosing a lot of money.  The truth is a bonus of some amount for most employees on Wall St., is part and parcle of the expected compensation.  Most of these men and women are paid a salary less than 50% of what they and their employers expect will be their total annual compensation for satisfactory job performance.  Some smaller part of that bonus is in fact based on individual performance.  But most of the bonus is just a way for the employer to delay paying compensation for 13 or more months to it's employees. Yup, those employees do earn more than the average worker in the US.  But most of them work very long hours. I mean a 60 hour work week is a week where the employee had emergency surgery.  And it is alwo true they are amongst the best and the brightest of our workforce.  Wall St. as an industry, just doesn't see the word bonus, for the rest of the country's workers is a rare and unexpected reward for extraordinary achievement, not deferred compensation for satisfactory performance.  Imagine the outcry if a factory floor worker making $10 per hour opens his pay envelope and sees he only made $8 per hour.  Same deal.  But Wall St. I urge you, change the name, don't call it a bonus, call it "the part of your salary we should have paid you last year, but got you to wait a long time to get"  Because that is what it is.

I know, it ain't gonna happen.

35,000 new layoffs on a cold January Monday

Caterpillar, Home Depot and Sprint announced new job cuts this AM.  Unannounced cuts are surely also happening.  It is a grim time for american workers.  All employer categories public and private seem to be shedding jobs at ever increasing rates.  For almost all of us unemployed finding a job is harder than the frozen New England ground.  A philosopher was once commanded by his king to make one statement true for all times, all places, all mankind.  Failure to satisfy his king was death to him.  The philosopher said, "this too shall pass".  Good times, bad times, health, illness, success, failure, life itself.  When times are wonderful and life seems very good it is a cautionary statement, be humble and prepare.  When times are difficult and life seems very bad and likely to get worse, take comfort in change and do whatever you can to make that change happen.   Life is a marathon.  Sometime the wind is at your back, the road runs down hill, It is easy.  Sometimes the air is quiet, the path is level and straight, for a long way forward the way seems steady and predictable.  Sometimes the path twists and turns steeply uphill, the wind blows hard in our faces, we cannot seem beyonnd the next turn, the way just ahead is not visible.  Whatever part of the run we are on this stretch too shall pass.  

Paulson

My son in law and I were discussing former Treas. Sec. Paulson back in Octobber when he seemed to take charge of the government response to the financial crisis.  My son in law has worked very successfully in investment banking in NYC. We both agreed Paulson had the background and understanding to deal successfully with the crisis.  Since than many have said he screwed it up.  Why?  Ben Stein had an insiteful article in last Sunday's New York Times.  The most experienced and brightest are still just people.  Knowledge, talent, experience may be necessaries to success, but they are not sufficient.  People act and re-act to reality for many reasons.  We know this. Smart people do dumb things.  What Paulson forgot, I think, was to keep in mind the changing Global reality. What we should each strive to do as we navigate our own lives is: check frequesntly how the overall environment is changing, re-examine our overall strategy based on that changing reality,  verify that our immediate tactics will still be successful.  Maybe Paulson some of did this.  Maybe new information required, in his mind, that he change course.  But he seems to have forgotten the changing Global reality.  As confidence waned in the international financial and business communites,  his changing tactics appeared capricious.  One example, PNC Bank and Nat City both applied for TARP funding.  He granted PNC's request, rejected Nat City's request.  PNC promply bought Nat City with TARP funds. Paulson did not see the effect a lack of public explaination would have on the global reality. This was one of many unexplained decisions he made.  Business needs to undertand what the rules are, or busness and its investors get very leery of putting money at risk.  That is where we are now. Not all your fault Hank, but some.

Guantanamoand an old Law and Order

Last week I caught an old Law and Order.  A policeman physically roughed up someone who had claerly kidnapped a young girl.  The clock was ticking, any minute she might have died if the police could not reach her.  At the end, after the girl is found alive and the suspect is convicted.  The defense attorney turns to McCoy, the prosecutor, and says "We're all right with what was done to save the little girl right?" McCoy nodds.  the Defense counsel than asks " What about if the cop had roughed up the kidnappers mother?" Just to go further into a moral morass  supposing he had tortured the suspect's child to get the suspect to talk,   It is the ticking bomb question examined a little more closely.  If it is right to torture someone who endangers others, is it also right to torture someone who has no guilt to get that information?  If torture is justified to save lives, than it should not matter who is tortured.  If torture is a part of the punishment for a crime, should that person be convicted of a crime first?  A policeman, I think in England, maybe Scotland, abused a prisoner who had also kidnapped a child.  He got the information, saved the child, and than turned himself in for judgement under the law.  Outside of fiction these ticking bomb situations are supposedly very rare.  It is one of the best aspects of that show that they often pose serious, thoughtful questions.  I wonder what other viewers thought.  Don't we all feel that an individual should not suffer unjust pain, torture, just because that may serve a higher end or greater good.  Otherwise we are on a very slippery slope to eugenics, euthanasia, and genocide.  The Old Testament lays the sins of the father on to the next seven generations.  Surely we have evolved past that.  If I were faced with the policeman's choice I might abuse the suspect, I would not hurt his mother or child.  But I know it is easy to sit in front of a computer and say confidently what I would do in a life or death situation.  No one can say with certainty without being there.

Muammer Qaddafi

His OP-Ed peice in the NY Times today is both most encouraging and discouraging.  His review of the history of the Jewish and Palastinian experience is balanced, if of necessity brief.  He does not pick and choose history which justifies the extremest views of Hamas and other groups which call for the total destruction of Israel. Moderates in the middle, Arab, European, American, Israeli seem focused on a 2 state solution.  He advocates a 1 state solution.  He sees the right of Palestinian refugees to return to their pre 1948 homes, farms, etc. as THE injustice which must be addressed. He calls for the continuation of assimilation between Jews and Palatinians, which he sees already happening in both Israel and the West Bank.  What is most enscouraging to me is his acknowledgemnt of valid historical issues on both sides.  Arab voices have come forward in recent years and acknowledged there are valid issues each side has.  The Saudi proposal to guarentee Israel's right to exist for example.  Arab voices are suggesting pragmatic solutions to the destructive cycle of violence and hate.  These are very encouraging, hopeful signs.  What is discouraging is the fear and hate, the distrust and revenge so many on both sides hold so tightly.  If you believe everything the Palastinian side does is only to advance the goal of the destruction of Israel, Isreal cannot compromise in any way.  If you believe you are the intentional victim of great moral injustice than Palestinians cannot do other than seek  full redress.  There can be no talking, no agreement.  Very discouraging.  For the first time I remember Arab leaders are talking about talking with Israel. Enough of Israel seems willing to reach some agreement if they are confident of the sincerity and control on the other side of the table.  That is very encouraging.

not too much, not too little, just right

Marcus Aurelius noted what people commment about you, tells more about them than about you.  And so I was curious to listen to the comments about President Obama's Inagural speech.  The negative criticism I saw feel into too categories:  Too vague, (see Wall St. Journal editorial),  not enough soaring rhetoric.  Were you ever in an organiztion when a new leader took over?  If so think about what you and your co-workers were feeling.  fear, hope need for change, fear of the wrong change, does he have the answers to hand down to us, will he listen to us.  Those who ask for that do not understand the basic approach of President Obama.  Core prinicples, core values will govern what we attempt to do.  An openness to data, interpretation, analysis and viewpoint, a discussion and debate of the options developed by many from those disparate sources. An examination of which options can be implemented and the cost/benefit of each.  Costs measured politically and monetarily.  President Obama has said over and over we must find common consensus to move forward.  Why would you expect him to start his administration not with a process, but with a destination?

Perhaps the most effective orator and writer we have had in a long time knew it was time to describe the difficult tasks ahead. Soaring, inspiring, words must be mixed with the reality of the hard and difficult issues we face.  He feels, and I agree, we must grow up if we are to move our country forward.  The world is hard, difficult, and sometimes dangerous. Life had it's share of frustration and pain. Achieving anythin worthwhile takes effort, focus, and time.  Anyone who wants to hide from reality should sit home and endlessly replay Goerge Bush's speech after 911...."just go out and shop" The rest of us need to go to work

The Speech

Imediate reaction.  Wonderful to hear a clear, eloquent speech given by our President.  The speech covered all issues, it inspired, it concisely described a philosophy that empowers and makes responsible each of us as citizens of this country, that outlines our purpose as a nation both domestically and with the world at large.  I will read it carefully, it was densly packed, each word and phrase has import.  Except for the foolish fringe on the left and right, there are none who can disagree with the philosophy.  Even CNBC the business channel commentators voiced agreement.  We all have high hopes, great confidence, it is up to all of us to shoulder our respnsiblity, take on our part of the taskes ahead.

Inauguration Morning

Much to feel very good about.  The country elected Barak Obama.  The transfer of power is orderly.  Partisan politics is muted.  83% in the latest poll support our incoming President.  These are all great reasons for optimism.  Our new President has spoken repeatedly of our ability to meet the challenges the country and the world face.  He is right.  Confidence we can meet todays challenges whatever they are.  Confidence we can make tomorrow better than yesterday.  If we do not have it in our national life we will not have the collective energy we need to solve our problems. If we do not have it in our personal lives we do not have the energy to address the various obstacles each of us faces.  Pebbles become boulders, Bumps become hills.  Hills become mountains.  The Frank Sinatra song High Hopes captures the idea.  All great leaders inspire hope, confidence,  that we can overcome, that we can surmount the problems we face, whether they are pebbles or towering mountains.  With understanding that the task is not easy.  The work is not easy. The time may not be short.  America and the world can again look forward to a reborn commitment that we can make it better.

The Torch always passes

I remember JFK's inaugural.   "The torch has passed to a new generation".  It is happening again, the first "post baby boomer" President will take office tomorrow.  That is as it should be. If God wanted leaders to lead forever, he would have made them immortal.  While some have extraordinarily long lives, no one can lead forever. My father never faced up to that simple fact.  My father and his two brothers built a busness.  They proclaimed their intention was to build it for us, the next generation.  They never did let go.  Maybe none of us next generation members appeared capable in their eyes. Maybe we were not.  As their abilities to function declined they did not turn to anyone outside the family either. They owned the business. they had the right to run it as long as they wanted to. They did not have the wisdom to know when to let go.  It was impossible for them to say, " we are not capable any more".  It was impossble for them to say  "someone esle can do this also".  It was impossible for them to say, " for this business to exist beyond our time, we must let go". They talked of a transition to the next generation.  They brought some of us into the business. They could never let go of the power. There were excuses and pleas to the moment's "special circumstances".  "Just need to get things to a better place."  "Just need to have this particular issues resolved."  The unspoken assumption was, you can't handle it now.  We love you so we do not want to dump the current mess on you. We need to make circumstances easier for you than they are now.  Did they believe it? Were they correct?  Was it merely self serving of them?  I don't know.  What I do know is they did not let go. The business failed. Maybe we younger ones should pushed harder? We did not. Why not? Out of respect, perhaps. Out of fear we were not capable? Out of love, maybe? We did nothing.  If they did not want to, or need,  hold on with claws of steel they would have moved back. If we felt fully capable we would have tried to push them. If they felt they had raised us to be what they wanted us to be they would have moved back.  Ultimately our lack of action and theirs were a judgement on us and them.  It is mine and I will not give it up.  We will not try take it from you. Thank God the American people know the survival of what we hold dearest requires a letting go. Thank God America knows when The Torch MUST be passed.

gratitude

Everyone anticipates the Inauguration of President Barak Obama.  His philosophy, serve the community. His humility-"I'll make mistakes". His pragmatism - let us find where we have common ground - where we can agree.  His economic philosophy - lets remove artificial barriers which prevent any of us from rising as far as our work and talent will allow. His leadership calls forth the best in each of us. His oratorical talent inspires most of us and brings tears to many of us.  Very few dispute this country needs his unique leadership now. Every President should have these qualities. Few have, Washington, Jefferson, Lincoln, Kennedy. We should be grateful to God, that at least in times of great peril, we have such leaders. Not solely for the sake of our nation but preseve the idea that a nation "so constitued can long endure", to preserve the idea each individual has value,  to call to the "better angels of our nature".  One thought I keep having.  The burdens this man has chosen to carry, the burdens we have chosen to place on his shoulders, are so heavy.  I am so very grateful he will be our president in less than two days.  But for the man, he has taken a very heavy wieght on his shoulders.  For all our sakes I am very thankful.  For his sake I wish he had less to carry. God bless him.

Madoff and Bin laden Compare and Contrast

Thursay night as reported today in the NY Times a meeting was held at the YIVO Institute for Jewish Research to discuss Madoff: A Jewish Reckoning.  Comparing Madoff and BinLaden.... I asked myself the following:  

Has each portrayed himself as an enthusiastic follower of an organized religion - Yes

Did each violate clear principles of that religion  - Madoff Yes, Bin Laden - many who know more than me say yes, Bin Laden would say no

Did each cause harm to members of his religion - Madoff targeted and prayed on Jewish individuals and Jewish non-profits.  Bin Laden's actions have been an excuse for anti-muslim prejudice in the non-muslim world,  though he would disagree I expect

Reaction from members of each religious group - from the report of the seminar Jewish Americans feeling betrayed and also wondering, worrying if this will increase anti-semitism.

The Muslim reaction covers a broader range, from outright support to complete rejection and condemnation.

What strikes me most is that each has taken their acceptance by members of a religious group and used it to cause great harm to many members of that group, as well as people outside that group.

One old lesson, proclamations of religious faith and outward adherence of religious devotion are not sufficient proof of a struggle to understand God's will.  All religions require we care about our fellow humans.  Neither Madof or Bin Laden fed the poor, clothed the naked, gave succor to those who suffer.  Though both claimed to do so.  Both practiced destruction.  

David Brooks NY times today

No economic philosophy, including "free market"  is based on actual human behavior. Simple explanations of us are always incomplete.  Rigid policies which do not take into account all aspects of what we are will sooner or later lead to disaster.  HIs point can be expanded to all areas of human activity,  religious, cultural, social, and governmental, We are the total of our genes and experience.  Our species can observe, think, and  learn. That is our hope.  WE progress. Nature does not produce straight lines for any great distance.  Human progress is not linear for long.  But the long term trend is clearly upward.  We humans keep trying different philosophies, different ways to "make it better".  We are a work in progress.  We climb the mountain.  We run, we walk, we pause, we stumble, we roll backwards also.  We get frustrated, we despair, but sooner or latter we get up and struggle upward. We do not agree on what the top looks like, we do not agree which path will get us there.  But we keep trying. I have tried to observe, learn, and think and believe we will keep climbing up. 

From the bottom up

So in a couple of days we get a new President.  Thank God. 

 In his last press conference Bush talked about what he should have done different about Katrina, Anticipating criticism he said that if he had landed Airforce One in New Orleans he would have pulled police from emergency response duty. That would Be Wrong.  That's it!!  The only criticism he can imagine is that he didn't land there?  

How about a disorganized, fatally slow response for desparetly needed food, water, shelter, security.  

How about a government department created to deal with a national emergency, FEMA,

down graded from cabinet to sub-cabinet department.  How about appointing a man to head the department with no experience. 

But why go on.  

This is a chief executive who has held no one responsible for anything except perceived disloyalty to Himself.  God bless and good riddance