America

YETI puts the NRA on ice while BISON puts the lid on political correctness

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YETI coolers has announced it has decided not to be associated with the NRA anymore. News to the ears of Bison Coolers which announced they’re only too happy to fill the void. Interested in seeing the relative revenue performance of both brands. One might bet that the Bison may stampede the Yeti.

Rasmussen poll shows voter distrust of political news at new highs

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A new Rasmussen Reports national poll finds that 54% of Likely US Voters now say they do not trust the political news they’re getting. This is up from last June’s previous high of 46%. Only 36% did not trust political news in January of 2017, but that number was in the 40s from 2014 through 2016. Fake news? Supports yesterday’s post which saw Rasmussen defend its polling integrity from criticism thrown at it by the mainstream media. At least this NY Times op-ed finally grasped the concept of growing mistrust in political news despite the rest of the paper ignoring it.

Rasmussen slaps down mainstream media criticism of its polling

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Rasmussen Reports didn’t hold any punches when responding to criticism from the mainstream media for reporting the latest  figures showing  Trump’s (best of the Western world leaders) popularity. The full comment here. Boom!

Never let the facts get in the way of a story

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This story was run yesterday by two US news outlets, NY Times and CNN, based on a study from James Cook University (JCU) which actively sought to muzzle and fire a fellow professor, Peter Ridd, who criticized their poor standards of peer review.  While JCU was adamant in the quality of its study that  Great Barrier Reef (GBR) coral had fallen 15% due to “global warming, Ridd said the data showed 10% growth.

Ridd was summarily threatened by his colleagues who trawled his emails looking for dirt. Instead of being proud of the level of research that would simply prove the study of bleaching coral with data driven fact and rigour, silencing dissenters was simpler. Surely scientists would be proud to rest on the laurels of integrity and quality of analysis. One can only surmise that when agendas are at stake, facts should never get in the way of a good story.

Ridd’s blog notes,

In mid 2017, Ridd contributed a chapter in the book “Climate Change: The facts 2017” where he argued that thermal bleaching from climate change was a very unlikely threat to the GBR. He also made the point that much of the science that claims damage to the reef has been insufficiently checked, tested or replicated. He pointed out that there is a widely acknowledged “Replication Crisis” in science in general where replication tests are finding around half of the recent important scientific literature has serious flaws.”

In the day and age of Google, surely CNN and NY Times might have used their own journalistic integrity to fact check what they publish. Then again they’re climate alarmists too so best just publish anything that fits a narrative than report the truth,

6.3 trillion reasons Blackrock isn’t worried

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Student activist, David Hogg, has added to his seemingly never ending list of firms to boycott. Yet again, the impetuousness of youth made him misunderstand the very nature of the business he is attacking. Yes, some Blackrock funds hold gun makers for the sake of index tracking. Some ESG related funds don’t. Clients of Blackrock and other funds get to choose what products they wish to invest in.

Paraphrasing what Blackrock’s Larry Fink said to CNBC on the matter, “we are just custodians of our client’s money. They decide what they wish to invest into and they can select from products that don’t hold gun manufacturers.

Fink said the feedback from clients was a 95/5 ratio in favour of what Blackrock is doing with respect to investment offerings. As a $6.3 trillion AUM asset manager one wonders how much impact this boycott will have. If history is a guide then Blackrock and other funds will no doubt see a boost to assets under management thanks to Hogg’s boycott.

Or perhaps Fink should offer him an internship to learn about ESG.

Disrespecting the dead then preaching one’s subjective value to society

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Should we be surprised at yet another unhinged lefty taking pot shots at the dead and gloating about it? It was hard to top Canadian freelance journalist Nora Loreto who tweeted at the whiteness of Humbolt hockey players who died in a bus crash but Randa Jarrar has managed to one up her.

Fresno State University Professor Randa Jarrar tweeted that former First Lady Mrs. Barbara Bush was a

generous and smart and amazing racist who, along with her husband, raised a war criminal… “F**k outta here with your nice words….all the hate I’m getting ALMOST made me forget how happy I am that George W Bush…I’m happy the witch is dead…”

She then defended her rant to someone that clearly found her words unnecessary by saying,

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Her college President Joseph Castro had a slightly more balanced view of her behaviour,

On behalf of Fresno State, I extend my deepest condolences to the Bush family on the loss of our former First Lady, Barbara Bush. We share the deep concerns by others over the personal comments made today by Professor Randa Jarrar, a professor in the English Department at Fresno State. Her statements were made as a private citizen, not as a representative of Fresno State. Professor Jarrar’s expressed personal views and commentary are obviously contrary to the core values of our University, which include respect and empathy for individuals with divergent points of view, and a sincere commitment to mutual understanding and progress.

Provost (Vice Chancellor) Lynnette Zelezny of Fresno State spoke afterwards at a news conference confirming a question to her that the disrespectful professor could be fired.

One doubts there will be many that shed a tear at this self inflicted stupidity. Makes one wonder what standards she holds her class to. If history is any guide she will no doubt drag up her lack of white privilege as justification enough to mock a woman who served her country with dignity.

Cutting back on the Tesla staff cookie tin

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Where have we heard this before? When companies look to tighten the belt, bosses often pat themselves on the back by cutting back on ‘unnecessary expenses’ like staff coffee room biscuits. That somehow over a 12 month period a company hemorrhaging millions has saved $832.67 on cookie cutting. Maybe $1,239.31 on fewer newspaper subscriptions. Well it seems Tesla’s Elon Musk is getting tough on approvals. Well he might especially after claims he doesn’t need a capital raise and made wise cracks about going bankrupt on April fool’s day.

Musk tweeted that his finance team were going to be out to trim back on any expense deemed not vital to the cause. All $1mn approvals must be solely signed off by the CEO himself. Suchnis the extent of ‘production hell’ he has moved to 24-7 shifts to hit his slated targets.

His email also bragged,

It is extremely rare for an automotive company to grow the production rate by over 100% from one year to the next. Moreover, there has simultaneously been a significant improvement in quality and build accuracy…

Indeed it is extremely rare to have auto companies doubling production year over year because most companies never plan to improvise their manufacturing  methods to start with. Toyota doesn’t meet a week before starting a new vehicle build and have a thought bubble. “Tanaka-san, did you get hold of Fanuc to see if they have any spare robots they can install by Friday?” Moreover the quality improvements are also a celebration of dreadful moving to mediocre. These aren’t achievements in any manufacturers book. They’re a candid admission of ‘amateur hour’

Musk continued,

Any Tesla department or supplier that is unable to do this will need to have a very good explanation why not, along with a plan for fixing the problem and present that to me directly. If anyone needs help achieving this, please let me know as soon as possible. We are going to find a way or make a way to get there.”

Seriously? It is a rather frightening prospect now that the CEO, whom took over the production floor several weeks ago, is sending a  crisis stations email to staff and suppliers.

His levels of lashing out of late seem somewhat concerning. Two weeks ago he accused the NTSB of lacking credibility by kicking off Tesla in the investigation panel into the recent death caused of a driver in California who had relied on autopilot Attaking the regulator is never a wise move. Worse, he blamed the driver in response to a lawsuit launched by the deceased’s family claiming he put too much faith in a system he champions as smarter than humans. Which is it?

Musk’s full letter to employees is here but perhaps he should take a lead out of the Riva Aquarama production line book. Carlo Riva built the Ferrari of yachts with excruciating attention to detail. All the different stages of production crew had different coloured jackets on. When looking out his window if he ever saw colours mingling he knew he had a problem.

Musk talks the confidence game but the pressure is bearing down on him. Senior departures, impending court actions and a production system that has been found wanting after such a short period of time that major changes need to be enacted because the original concept was so poorly thought out. So much for sensible factory capex allocation.

Elon Musk also made surprising remarks about the new found existence of sub suppliers. Musk can’t  lick his finger to find the direction of the wind forever. This is rookie level discovery. Frankly shareholders should be very concerned.