Category Archives: Finance

Will Anyone Grieve For These Children?

This just happened this morning in Baltimore MD. Apparently a gas leak caused an explosion that leveled five houses. The reporting is that people, including children are trapped in the rubble.

If someone wants to pour money into a fight against disparity, how about this idea? Instead of giving BILLIONS of dollars to the Marxist god Blim, how about funding a program to inspect AND correct hazardous living conditions in poor neighborhoods? You rarely hear of a gas explosion in the wealthy suburbs. How about using some of Blim’s money to put in gas leak detectors in these row houses? For that matter install fire and carbon monoxide detectors as well. They can all be tied together into either a new or existing wireless “Internet of Things”, IoT, network. Emergency and repair crews can be dispatched to remedy problems before there is such widespread damage and loss of life.

But it’s easier for Nike et al to write a check to Blim than to actually do something that will help others.

Swoosh Away Racism

First off, STOP BUYING Nike products.

I read and hear praise dumped in copious amounts on Nike, Inc. regarding their support of their god Blim (BLM). The company has pledged $40 million dollars to some nebulous concept of supporting a group of people based solely (no pun intended) upon skin color. Let’s look at what Nike says.

Systemic racism and the events that have unfolded across America over the past few weeks

Uh, Nike, if racism is systemic why is it you only noticed it in the “past few weeks“. I guess all of those “systemic” racists do a pretty good job of hiding racism from the brain trust in your boardroom, or you are just a bunch of pandering clowns parroting the leftist word salad phrase du jour.

And the bozos continue…

This additional $40 million builds upon the NIKE, Inc. family’s long history of providing support to the communities in which they operate in.

Back the f’ing truck up a few yards there Chuckles.

Nike, you produce almost all of your shoes in China and Vietnam. Near as I can tell you make ZERO PERCENT of your shoes in the US.

Here’s a thought. Why don’t you bring your production back to inner city America and create jobs for the “communities” that you so lovingly support? Oh, you say your bottom line doesn’t support paying $15 per hour to some person of a certain skin color to make $250 Jordans or $400 Adapt basketball shoes?  I can see that.  According to your 2019 financial statement, you had $39 BILLION in revenue with a gross profit of over $17 BILLION. Yup, I guess with $17 BILLION there is no way to build inner city factories and employ Americans of a certain skin color. I guess pledging 0.1% of your revenue is much easier than actually “Just Doing” something significant.  Though I haven’t done an analysis of Nike financial, I suspect that the money pledged is part of the existing marketing budget and operating expenses which means ZERO PERCENT came out of profits.

Personally I don’t believe that skin color is a qualifying factor for a job position, however Nike goes on,

We believe in a level playing field for all and leveraging the power of sport and our brands to move the world forward.

Hey, chuckle-heads, perhaps a little introspection about your executive officers.  Mark Parker CEO, Andrew Campion CFO, Elliot Hill, Hillary Kane, Monique Matheson, John Slusher, Eric Sprunk COO.  Your panel of melanin challenged individuals are the poster children for “diversity” in corporate America.  Your whole team would disappear in a backdrop of snow, if you get my meaning.  Again, I don’t believe skin color has any value in judging a person’s suitability for a job, but I’m not the “social justice warriors” that you all are pretending to be.

As Yahoos Sports praised your actions, “Nike so nailed its response...”

You can read Nike, Inc’s 2019 SEC annual report HERE

Free = Bondage

I listened to Magatte Wade, an entrepreneur from Senegal, Africa, speaking about how to end poverty.  You can listen to her speech at a Ted Talks HERE.

She says that in order to end Africa from existing as the most poverty stricken region of the world, GOVERNMENTS need to GET OUT OF THE WAY. She states that the only way create a more prosperous region is, “We need greater economic freedom“. Words of great wisdom.  Someone tell Bernie Sanders and the rest of the socialists.

Many would argue that corruption is the root cause. Wade says that “Corruption is the natural consequence of stupid senseless idiot laws“. And that, “The way to eliminate corruption is to simplify“. It’s hard to argue against what she has to say.

The young socialists here in the United States should listen to what Magatte Wade has to say. Big government controlling the means of production (true socialism) or regulating all industries will inevitably create poverty as it has in Africa.

Magatte also argues against FREE good and wealth redistribution. As an example in her village she is very critical of a US shoe company which has a program of buy one pair of shoes and the company will give away a pair of shoes in a “needy” country. Why is supplying shoes to poor regions counterproductive? Wade says that local shoemakers have gone out of business because they cannot compete against FREE. She said that there were 29 local shoe manufacturers in her small village each of which employed about 15 people.  435 employed making shoes.  Those businesses cannot compete against a supplier who gives away products for free hence they end up going out of business.

Free stuff as it turns out is not a way out from poverty.

Out of curiosity I wondered where the FREE shoes are made. Just like most shoe companies, the shoes are made in China and Vietnam.  Hmm, US consumers buying products made in China which inadvertently crushes small businesses in Africa.  People’s hearts can be in the right place but without looking at all the consequences, their actions may end up hurting instead of helping.

Once again the young socialists should consider that all the FREE STUFF and wealth redistribution that they seek will lead to a life of BONDAGE in POVERTY.