Besides sharing my own thoughts I will also be sharing articles I find very interesting. Today I will be sharing two articles. One regarding John Thain former Merill Lynch CEO and the second article is regarding a virgin who is selling her virginity which currently has a bid of $3.8 million dollars on a site similar to Ebay.
The first article I want to share is in regards to John Thain and is blatant disregard for ethical usage of corporate funds however first I want to set the stage. John Thain is the former CEO of Merrill Lynch which was purchased by Bank of America earlier this month. Bank of America just announced a Q4 quarterly loss of $1.79 billion which EXCLUDES the $15.3 billion dollar loss by Merrill Lynch recorded during Q4 of 2008. Bank of American tried to pull out of the acquisition due to this performance however the federal government forced BOA's hand and gave them $20 billion dollars to help in the completion of the acquisition.
As Merill was floundering John Thain gave his executives hugh bonuses and redecorated his office. Below is an article from The Daily Beast by Charlie Gasparino.
How did Merrill Lynch’s former CEO spend $1.22 million redecorating his office? The Daily Beast counts the ways.
This morning in a Daily Beast/CNBC exclusive, Charlie Gasparino obtained documents about $1.22 million of company money that former Merrill Lynch CEO John Thain spent on his office, just as the financial crisis was hitting the firm. Thain announced his resignation this morning, less than a month after his brokerage firm was taken over by Bank of America. Does he get to take his goodies with him?
Below, The Daily Beast presents Thain’s top 16 outrages.
1) $2,700 for six wall sconces.2) $5,000 for a mirror in his private dining room.3) $11,000 for fabric for a "Roman Shade.”4) $13,000 for a chandelier in the private dining room.5) $15,000 for a sofa.6) $16,000 for a "custom coffee table.”7) $18,000 for a “George IV Desk.”8) $25,000 for a "mahogany pedestal table.”9) $28,000 for four pairs of curtains.10) $35,000 for something called a "commode on legs.”11) $37,000 for six chairs in his private dining room.12) $68,000 for a "19th Century Credenza" in his office. 13) $87,000 for a pair of guest chairs. 14) $87,000 for an area rug in Thain's conference room and another area rug for $44,000.15) $230,000 to his driver for one year’s work. 16) $800,000 to hire celebrity designer Michael Smith, who is currently redesigning the White House for the Obama family for just $100,000.
Why I am Selling my Virginity from The Daily Beast by Natalie Dylan
They say you should value having sex for the first time. That’s why I’m auctioning my virginity online—and the bidding is up to $3.8 million.
When I put my virginity up for auction in September, it was in part a sociological experiment—I wanted to study the public's response. Now it seems that the tables have turned, and the public is studying me.
I’m a 22-year-old woman who recently earned her Bachelor’s Degree in Women’s Studies, and soon I’ll be entering a Masters Degree program in Marriage and Family Therapy. During the time in between, in addition to my regular 9-to-5, I’ve been exploring my upcoming thesis project: the value of virginity. To be more specific, I’ve put my own virginity up for auction on the Moonlight Bunny Ranch website, and I recently received my highest bid so far: a cool $3.8 million.
I've been congratulated for my "entrepreneurial gumption," as one CEO of a Fortune 500 company put it.
In addition to bids, however, I’ve also received an astonishing, sometimes unnerving, amount of media attention. Many of these reports have portrayed me inaccurately, however, so let me tell you what this is all about.
This all started long before September. In fact, it started in college, where my eyes were opened by my Women’s Studies professors and fellow classmates. I came to understand the role of "woman" spanning culture and time. At the university level, I was given permission to think differently and form a moral code of my own design. College opened my eyes.
Like most little girls, I was raised to believe that virginity is a sacred gift a woman should reserve for just the right man. But college taught me that this concept is just a tool to keep the status quo intact. Deflowering is historically oppressive—early European marriages began with a dowry, in which a father would sell his virginal daughter to the man whose family could offer the most agricultural wealth. Dads were basically their daughters’ pimps.
When I learned this, it became apparent to me that idealized virginity is just a tool to keep women in their place. But then I realized something else: if virginity is considered that valuable, what’s to stop me from benefiting from that? It is mine, after all. And the value of my chastity is one level on which men cannot compete with me. I decided to flip the equation, and turn my virginity into something that allows me to gain power and opportunity from men. I took the ancient notion that a woman’s virginity is priceless and used it as a vehicle for capitalism.
Are you rolling your eyes? I knew this experiment would bring me condemnation. But I'm not saying every forward-thinking person has to agree with what I’m doing. You should develop your own personal belief system—that’s exactly my point! For me, valuing virginity as sacred is simply not a concept I could embrace. But valuing virginity monetarily—now that’s a concept I could definitely get behind. I no longer view the selling of sex as wrong or immoral—my time at college showed me that I had too blindly accepted such arbitrary norms. And for what it’s worth, the winning bid won’t necessarily be the highest—I get to choose.
So, with this value system firmly in place, I contacted the organization I felt could best provide me a safe and legal means through which to execute my idea: The Moonlite Bunny Ranch in Reno, Nevada.
I have been to the Moonlite Bunny Ranch twice to meet with its larger-than-life owner, Dennis Hof. I would describe the environment as a comical hybrid of a sorority house crossed with a laid-back gentlemen's club.
The Ranch not only provided me with the publicity to reach bidders through a personal email address on their website, but also as a way to capture a big enough "sample" of the public so I could research their reactions.
Some of these reactions have been surprising. As expected, many people value virginity itself—people who think it’s important to save, and men who think it’s valuable enough to buy. But I’ve discovered that others value the lucrative nature of my experiment even more. I've been congratulated for my "entrepreneurial gumption," as one CEO of a Fortune 500 company put it.
I might even be an early adopter of a future trend, if the ads that clutter Craigslist are any indication of the direction we’re headed in. These days, more and more women my age are profiting directly from their sex appeal, but I’m not sure other women should follow my lead. One conclusion my experiment has already borne out is that society isn’t ready for public auctions like mine—yet.
Friday, January 23, 2009
Sunday, January 18, 2009
Approaching History
It seems at this time we are all living through many "firsts" within the history of our nation and even personally.
As we all know we are facing an unknown territory regarding our economic stability. We are watching a domino affect which started with bad loan practices for homes. That one practice is pushing many other aspects of our economy to the brink. The banking institutions decided to relax the home loan qualifications. So yes, of course, they are in trouble. The homeowners which decided to buy above and beyond their means are in trouble. When the banks credit seized the ability for small businesses to obtain credit to run their companies stoped, and they in turn were in trouble. As the stock market fell and our 401K's lost 25% of their respected values the everyday American started to fell the affects of this debacle. Because of the events above our government started to step in and give out hundreds of billions of dollars to the banking industry, the automotive industry, and hopefully now they will turn their attention to the Amercian people via Tax Breaks.
I hear the murmurs of the "Depression 2.0" etc. I run the Channels/Alliance Team for the Central United States for a Software On Demand provider. So I work with many different organizations which provides many different products and services. I hear and see how this environment is affecting their respected businesses in different ways. I see layoff's, re-organization, a slow in their sales activity, and I hear not fear in their voices but a tone of "I do not know".
Will we return to business as usual? We never left however we are learning how to survive and be successful in this tough environment. Will the market rebound? Yes it will. Will it be because of bail packages or because we allow the market the correct itself. I see both playing an important role. The people who are being affected by this in the worst ways must supported and helped via tax breaks, tax credits, and re-structured home loans. I feel strongly that the market must correct itself. The only way we can help this happen is through economic activity via true stimulus plans not continued monetary bailout plans.
We are ushering out a President which put $11.5 TRILLION dollars on the United States "Credit Card" who faced many "firsts" for a president. 9/11, obtaining the highest approval rating, and the lowest approval rating, started two large military operations, and he put over 700 detainees in "GITMO". "GITMO" being the United States luxurious resort for anyone which could be a terrorist which will never stand trial or have fair access to legal representation. I could go on and on about President Bush. I would like to think that he has tried to do his best. I would like to think that he is not a stupid man. I would like to think that he found logic in attacking Iraq opposed to actually bringing the war to Osama Bin Laden.
Bottom line we elected twice the worst man for the job. A president which surrounded himself with a team of people which lacked morals, innocent intent, and the mission to serve the American people. Dick Chaney wanted to fulfill a self serving agenda. The silver lining to all of this is that the administrations eight years in office is over. They will be leaving office with the lowest approval rating of all time, 22%. It would also not surprise me if this President does something no other President has ever done. Another first! I predict he may Pardon his Administration to protect himself and members of his team by issuing a broad pardon for any crimes committed in the course of fighting terrorism.
The Constitution allows the president to issue such a blanket, pre-emptive pardon. The only real reason the president may issue a broad pardon anyway for fear that the Obama administration would reach different conclusions regarding the way President Bush and his team have ran the country for the last eight years. A pardon would flout the principle that even the president is not above the law. No president, not even Richard Nixon facing possible Watergate charges, has ever pardoned himself.
The president should resist the temptation to pardon, because a pardon would flout the principle that even the president is not above the law. No president, not even Richard Nixon facing possible Watergate charges, has ever pardoned himself. President Bush must be dissuaded from that course. Ordinarily, it falls to the Justice Department to investigate and prosecute federal crimes. But under the American system, the Justice Department is part of the executive branch, meaning the president can order it to overlook crimes he approves of. That’s why the Justice Department has ignored, for example, the crime of waterboarding, a form of torture—mock execution by drowning—that has been prosecuted as a war crime in the United States for more than 100 years. I feel that President Bush has nothing to worry about, the new administration believes in moving forward and has far to many important fish to fry like the two wars and our economy. However you never know Mr. Cheney and President Bush may get a knock at their front doors four years from know.
The most gratifying "first" I see on the horizon is the swearing in of our first African American President of the United States. What can I say about Barack Obama which has not been said? Nothing. What I can share is the excitement I have about the new administration. I can tell you that I am filled with hope. I can tell you that I understand that the changes that must be made will happen however the results will take time. I can tell you that I thrilled with the team he has put together. I like the fact that he is truly working across party lines and values the input of Republicans. I am positive that the perception of America will improve around the globe due to our new President and his new foreign policies he is going to put in place. I can tell you I am ready for the change and I welcome it with open arms!
When I started this blog I said that we all are living through many "firsts" as a country and as individuals. This is my first blog of many and I look forward to each and every one of them. I look forward to writing more about the Obama administration, our position in Iraq, our economy, and personal issues as well.
I am looking forward to 2009 and I have made changes in my life to make the most of this year. I just had a back surgery so I should be able to start working out again. I have made changes in the friends I will have moving forward in my life. I am learning the older I become the amount of friends are not important, it is the quality of friends which is. My wife and I are starting to make significant decisions which will affect our lives for the better and I am looking forward to the future more than ever.
Until I blog again,
Mathias
I would also like to recognize Kenneth Roth writer for The Daily Beast. All the words in bold have been taken from his article. Please click this link to read more. http://www.thedailybeast.com/blogs-and-stories/2009-01-18/will-bush-pardon-himself/
As we all know we are facing an unknown territory regarding our economic stability. We are watching a domino affect which started with bad loan practices for homes. That one practice is pushing many other aspects of our economy to the brink. The banking institutions decided to relax the home loan qualifications. So yes, of course, they are in trouble. The homeowners which decided to buy above and beyond their means are in trouble. When the banks credit seized the ability for small businesses to obtain credit to run their companies stoped, and they in turn were in trouble. As the stock market fell and our 401K's lost 25% of their respected values the everyday American started to fell the affects of this debacle. Because of the events above our government started to step in and give out hundreds of billions of dollars to the banking industry, the automotive industry, and hopefully now they will turn their attention to the Amercian people via Tax Breaks.
I hear the murmurs of the "Depression 2.0" etc. I run the Channels/Alliance Team for the Central United States for a Software On Demand provider. So I work with many different organizations which provides many different products and services. I hear and see how this environment is affecting their respected businesses in different ways. I see layoff's, re-organization, a slow in their sales activity, and I hear not fear in their voices but a tone of "I do not know".
Will we return to business as usual? We never left however we are learning how to survive and be successful in this tough environment. Will the market rebound? Yes it will. Will it be because of bail packages or because we allow the market the correct itself. I see both playing an important role. The people who are being affected by this in the worst ways must supported and helped via tax breaks, tax credits, and re-structured home loans. I feel strongly that the market must correct itself. The only way we can help this happen is through economic activity via true stimulus plans not continued monetary bailout plans.
We are ushering out a President which put $11.5 TRILLION dollars on the United States "Credit Card" who faced many "firsts" for a president. 9/11, obtaining the highest approval rating, and the lowest approval rating, started two large military operations, and he put over 700 detainees in "GITMO". "GITMO" being the United States luxurious resort for anyone which could be a terrorist which will never stand trial or have fair access to legal representation. I could go on and on about President Bush. I would like to think that he has tried to do his best. I would like to think that he is not a stupid man. I would like to think that he found logic in attacking Iraq opposed to actually bringing the war to Osama Bin Laden.
Bottom line we elected twice the worst man for the job. A president which surrounded himself with a team of people which lacked morals, innocent intent, and the mission to serve the American people. Dick Chaney wanted to fulfill a self serving agenda. The silver lining to all of this is that the administrations eight years in office is over. They will be leaving office with the lowest approval rating of all time, 22%. It would also not surprise me if this President does something no other President has ever done. Another first! I predict he may Pardon his Administration to protect himself and members of his team by issuing a broad pardon for any crimes committed in the course of fighting terrorism.
The Constitution allows the president to issue such a blanket, pre-emptive pardon. The only real reason the president may issue a broad pardon anyway for fear that the Obama administration would reach different conclusions regarding the way President Bush and his team have ran the country for the last eight years. A pardon would flout the principle that even the president is not above the law. No president, not even Richard Nixon facing possible Watergate charges, has ever pardoned himself.
The president should resist the temptation to pardon, because a pardon would flout the principle that even the president is not above the law. No president, not even Richard Nixon facing possible Watergate charges, has ever pardoned himself. President Bush must be dissuaded from that course. Ordinarily, it falls to the Justice Department to investigate and prosecute federal crimes. But under the American system, the Justice Department is part of the executive branch, meaning the president can order it to overlook crimes he approves of. That’s why the Justice Department has ignored, for example, the crime of waterboarding, a form of torture—mock execution by drowning—that has been prosecuted as a war crime in the United States for more than 100 years. I feel that President Bush has nothing to worry about, the new administration believes in moving forward and has far to many important fish to fry like the two wars and our economy. However you never know Mr. Cheney and President Bush may get a knock at their front doors four years from know.
The most gratifying "first" I see on the horizon is the swearing in of our first African American President of the United States. What can I say about Barack Obama which has not been said? Nothing. What I can share is the excitement I have about the new administration. I can tell you that I am filled with hope. I can tell you that I understand that the changes that must be made will happen however the results will take time. I can tell you that I thrilled with the team he has put together. I like the fact that he is truly working across party lines and values the input of Republicans. I am positive that the perception of America will improve around the globe due to our new President and his new foreign policies he is going to put in place. I can tell you I am ready for the change and I welcome it with open arms!
When I started this blog I said that we all are living through many "firsts" as a country and as individuals. This is my first blog of many and I look forward to each and every one of them. I look forward to writing more about the Obama administration, our position in Iraq, our economy, and personal issues as well.
I am looking forward to 2009 and I have made changes in my life to make the most of this year. I just had a back surgery so I should be able to start working out again. I have made changes in the friends I will have moving forward in my life. I am learning the older I become the amount of friends are not important, it is the quality of friends which is. My wife and I are starting to make significant decisions which will affect our lives for the better and I am looking forward to the future more than ever.
Until I blog again,
Mathias
I would also like to recognize Kenneth Roth writer for The Daily Beast. All the words in bold have been taken from his article. Please click this link to read more. http://www.thedailybeast.com/blogs-and-stories/2009-01-18/will-bush-pardon-himself/
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