MarkFord
Dissilient (dih-SIL-ee-unt) – a derivative of the Latin for “to leap, jump, spurt” – refers to something that is bursting apart or open. Primarily a botanical term, this is how Joan Houlihan used it in her poem “You Would Be Warm”: “Dissilient as milkweed, deprived of cohesion, I am a blown surface.”
Re what I said about war in the May 9 issue – from JM, an old friend and Vietnam War veteran:
“I believe everyone underestimates the common man. When I was 17, I believed exactly as [you] did. I thought that volunteering for medic school would allow me to not have to carry a gun, but I did not get that assignment, after which I had to make the best of my bad situation and try to survive. I had a nagging sense of duty to which I anticipated a sense of shame if I did not answer it. It was a nightmarish time of my life.”
Boomers Struggling With Technology
Back to Work
The borderline hysteria that the COVID pandemic provoked has finally exhausted itself. Americans – old and young, healthy or not, Trump lovers and Trump haters – have traded in their enervating views on the virus and returned to the habits of the pre-COVID days. They are gathering maskless at restaurants. Children are attending school. And the stadiums and concert halls of America are filling up again.
Among the most reluctant, however, are American workers. Many are going back to the factories and offices in which they used to spend 40+ hours a week. But many are not.
My business partners, whose employee counts range from several dozen to several thousand, have differing views on what should be done. Some believe their businesses would be better served with a complete return to the old days. They tell me that having workers in situ will improve productivity, accelerate the transfer of knowledge from seniors to newbies, and generally increase company morale.
Others, like me, have a less certain perspective. We believe there is some value in having one’s employees in the same space some of the time. But we also think there are good reasons to believe that productivity is as good or better with so much of the work being done remotely. And we can’t help figuring how much money we can save on rent.
Employees have their own points of view. Some long to be away from whatever it is that happens at home during their working hours and look forward to the refuge of an orderly workplace and collegial community. But the vast majority, according to the surveys I’ve read, would like a future that gives them the liberty to come and go as they wish.
At a recent board meeting with my main client, we decided to avoid making a cross-company mandate, and passed along the decision to the individual heads of each of the operating groups. Most of them are settling for policies of partial return. At least one, though, is looking to get everyone back full-time. He’s running into resistance because many of his employees would rather have the freedom to decide how many days they should spend in the office. And some, including some very valuable employees, are simply refusing to come back at all.
The arguments he is hearing from his employees that don’t wish to return are what you would expect. “I get more done at home.” And, “I can work more hours now because I don’t have to waste an hour every day commuting.”
A group of Apple employees are resisting the company’s back-to-the-office mandates by taking an entirely different approach. You will be amused to discover their argument in News & Views, below.
Is This Real?
JS sent this to me last week. It’s almost hard to believe. If it’s a hoax, it’s a funny one. But I think it’s real. Click here.
Latest Count From the Southern Border
The Department of Homeland Security reported that the US Border patrol detained 221,303 illegal immigrants on the southern border in March, the highest number in two decades. During the same month, there were 123,304 expulsions of noncitizens under Title 42, and 80,116 people were let into the country.
| What are stock splits? Why are they done?
Last month, Shopify announced plans for a 10-for-1 stock split. This after many other recent stock splits among some of the largest tech companies, like Amazon, Alphabet, and Tesla. What’s going on? What’s a stock split, anyway? A stock split is a pretty simple concept. Let’s say a company had issued 100,000 shares of stock at $10 per share. That’s a total valuation of $1 million. If it were to do a 10-to-1 split, the number of shares would increase to 1 million. And each of the shares would be worth $1. The total capitalization of the company would not change. But the price of an individual share would get a lot cheaper. The most common reason for a stock split is to encourage more buying of the stock in the hopes that it will lead to higher prices. A famous example of this occurred in 2010 when Berkshire Hathaway issued a 50-to-1 split for its Class B shares. It increased the amount of trading on the stock tremendously and allowed those B shares to be bought and sold on the S&P 500. So, in theory, stock splits shouldn’t have any impact on price movement. But in practice, they do. Not always much. (The average, I think, is a spike of about 2.5%.) And not always for long. But they can make a difference. |
The Dean’s Interest List at Harvard
Nearly half of white students admitted to Harvard between 2009 and 2014 were recruited athletes, legacy students, children of faculty and staff, or on the dean’s interest list (applicants whose parents or relatives have donated to Harvard), according to a 2019 study published by the National Bureau of Economic Research.
Says Ben Hunt of Epsilon Theory: “Other than one bribe being made out in the open and with a few extra zeros in it, can someone explain to me the difference between ‘the dean’s interest list’ at Harvard and the ‘admissions scandal’ at USC?”
Seville, Spain
Flamenco! Bullfights! Gypsies!
Seville, the capital and largest city of Andalusia, is rich in culture and history. It’s the setting for Bizet’s Carmen – and, though the story is fictional, there are references in the opera to many of the city’s landmarks. Click here to read an article that takes you through them. [LINK] https://tammytourguide.wordpress.com/2017/04/22/looking-for-carmen-in-seville/
I’m especially interested in Seville’s architecture – from ancient Roman rujns to spectacular Moorish, Gothic, Baroque, Renaissance, Mudejár (a blend of Moorish/Arabian and Gothic influences) and Neo-Classical structures.
A few of the architectural “must-sees”:
* Real Alcázar (Royal Palace), built as a fortress in the 10th century, was expanded and embellished by subsequent Moorish rulers. It is still in use by the Spanish king when he visits Seville.
* Catedral de Santa María de Sede, constructed between 1402 and 1506 on the site of a 12th century mosque, is one of the largest Gothic cathedrals in the world.
* La Giralda, the 300-foot-tall bell-tower next to the cathedral, was the minaret of the above-mentioned mosque. You can climb to the top for a spectacular panoramic view.
* Barrio de Santa Cruz, the old Jewish quarter, is a maze of narrow streets, alleys, and (admittedly touristy) tapas bars and shops to explore.
* Casa de Pilatos, a 16th century palace – a mix of Renaissance and Mudejár styles – gives you an idea of how the Spanish aristocrats used to live.
* Plaza de Toros houses the largest bullfighting arena in Spain (it can accommodate 13,000 spectators) and the Museo Taurino (Bullfighting Museum).
People used to be more civilized than they are now. At least the actors were. Here’s an example – a short, elegant farewell letter from Richard Burton to Elizabeth Taylor, written just after she told him she was divorcing him. (Source: Letters of Note)
How to Say Adieu: Richard Burton to Elizabeth Taylor, June 25, 1973
“So My Lumps,
“You’re off, by God!
“I can barely believe it since I am so unaccustomed to anybody leaving me. But reflectively I wonder why nobody did so before. All I care about – honest to God – is that you are happy and I don’t much care who you’ll find happiness with. I mean as long as he’s a friendly bloke and treats you nice and kind. If he doesn’t I’ll come at him with a hammer and clinker. God’s eye may be on the sparrow but my eye will always be on you. Never forget your strange virtues. Never forget that underneath that veneer of raucous language is a remarkable and puritanical LADY. I am a smashing bore and why you’ve stuck by me so long is an indication of your loyalty. I shall miss you with passion and wild regret.
“You may rest assured that I will not have affairs with any other female. I shall gloom a lot and stare morosely into unimaginable distances and act a bit – probably on the stage – to keep me in booze and butter, but chiefly and above all I shall write. Not about you, I hasten to add. No Millerinski Me, with a double M. There are many other and ludicrous and human comedies to constitute my shroud.
“I’ll leave it to you to announce the parting of the ways while I shall never say or write one word except this valedictory note to you. Try and look after yourself. Much love. Don’t forget that you are probably the greatest actress in the world. I wish I could borrow a minute portion of your passion and commitment, but there you are – cold is cold as ice is ice.”
“A lawyer is never entirely comfortable with a friendly divorce, any more than a good mortician wants to finish his job and then have the patient sit up on the table.” – Jean Kerr