Celebrities

Qantas to sue Will.i.am?

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CM rarely has a kind word for Qantas when it comes to service, but good on the airline for being prepared to defend a stewardess who Will.I.am decided to accuse of “racism” on Twitter. Of course, the full facts about what went on board to cause the fracas is yet to be released but sadly passengers need to realise when they are on the plane, the crew do have the law on their side. Apparently, the musician didn’t want to put his laptop in the overhead bin. Good luck winning that fight when instructed by the crew. It is a condition of flying.

One could almost be forgiven for thinking it was a pre-concert promotional stunt to stir up the media into a frenzy to sell more tickets. Thankfully Qantas flight attendants don’t wear MAGA hats, serve Subway sandwiches or carry bleach. Yet they do carry restraining kits. If Will.I.am truly did his homework he would have realised that Qantas is more woke than he is.

As successful as Will.I.am has been in his career, the triggered musician has had a history of not always living in the real world. Sadly when celebrities make millions they become so conditioned to having wind blown up their backside that when someone pushes back over the most trivial of things their outrage is amplified as if their life was at stake. Sometimes they don’t even get their own hypocrisy. Take this example.

Will.I.am attended a climate change debate in Oxford in his own helicopter – which is not dissimilar in size to Marine One – and said at the conference, “Climate change should be the thing that we are all worried and concerned about as humans on this planet, how we affect the planet, our consumption, and how we treat the place that we live in.”

ESG Blacklisted portfolio

ESG (Environment, Social Responsibility & Governance) blacklisted stocks. We all know deep in our hearts that vices are far more fun than virtues. Real Coke tastes better than Diet Coke. Full cream is better than skim. McDonald’s fries are tastier than mashed potato. CM made this point in yesterday’s piece on the irresponsibility of socially responsible investing for building a retirement nest-egg given the long term underperformance.

When all of this politically correct ESG investing meets a recession, these oversold anti-ESG darlings, many with gobs of free cash will look like total bargains. Suffice to say in a downturn, vices tend to be what people resort to.

All CM cares about is the G in ESG. Governance is a must for investing. E & S are merely subjective views which don’t automatically convert to shareholder value. Good governance goes without saying.

So perish the thought that CEOs, like Harvey Norman’s Katie Page are being attacked by the likes of Ownership Matters which thinks putting in a shareholder activist who has failed 49 times out of 49 to be appointed to ASX listed boards is a better bet? As Janet Albrechtsen of The Australian wrote,

A copy of the report obtained by The Australian reveals Ownership Matters has recommended that Stephen Mayne be elected to the board of the retailer, even though the 50-year-old has no corporate experience in retail or property, no corporate board experience and no corporate management experience…Harvey Norman has a market capitalisation of $5.2bn, and shares in the retailer have gained more than 32 per cent over the past year, outperforming the 16.4 per cent gain in the benchmark S&P/ASX 200 over the same period…The advice sent out on Monday has baffled Ms Page’s husband, the business’s billionaire co-founder Gerry Harvey, who remains its largest shareholder, retaining ­direct ownership of almost a third of the company. “I have been on a public company board as chairman since 1972, and I have never seen anything as bizarre as the fact that the best ­retail executive in Australia is to be replaced by a ratbag called ­Stephen Mayne who has been a proven failure … every time he’s run for a board seat,” Harvey said.

 

Donald Trump Jr’s new book #1 on NYT Best Sellers list

Donald Trump Jr. was quick to share the good news of hitting NYT’s #1 best sellers ranking, on Twitter.

“I dedicated #Triggered to the Deplorables and you guys made it #1… let’s do it again at the voting booth in November. You are the best!!! #MAGA”

Liberal heads must be exploding.

Brittany lambasts the double standards of the lamestream media

MRCTV commentator Brittany M. Hughes points out the blatant hypocrisy and double standards at the ABC Network in America.

Bloomberg confirms the bleeding obvious

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Nothing like a 77-yo former New York Mayor Mike Bloomberg coming off the top buckle and body-slamming the current list of Democrat primary candidates Hulk Hogan style. So hopeless is the current field running that Bloomberg’s long-time advisor, Howard Wolfson said,

Mike is increasingly concerned that the current field of candidates is not well-positioned” to defeat Donald Trump.

The question remains whether Bloomberg actually runs. If he doesn’t, he has literally thrown the present lot straight under a bus. Precious thanks to their campaigns. No doubt he will see how the reaction is before committing to the run. He will be 78 if he runs.

Yet, what record did Bloomberg leave behind in NY? Recall current Mayor Bill DeBlasio heaped scorn on Bloomberg for turning the city into one for the haves and the have nots. The argument that when he left office in 2013, 31% of the residents spent more than 50% on rent. That was a higher figure than when he took office.

One thing to bank on if Bloomberg wins the primary and challenges in November 2020, make sure you back up the truck on renewables investment when the polls all point to him doing a Hillary repeat (i.e. coronation) and sell just before the election result because it will be a fully priced sector before that date.

Mike Bloomberg is a climate alarmist of the first order so he’d likely re-sign the Paris Accord. Note that his own company has a dedicated Bloomberg NEF site for all things in clean energy.

ASX listed stocks linked to the renewable space include,

Infigen Energy (IFN) – Wind

Great Cell Solar (DYE) – Solar

Quantum Energy (QTM) – Solar

Solco (SOO) – Solar

M Power Group (MPR) – Solar

Carnegie Clean Energy (CWE) – Wave

ReNu Energy (RNE) – Biogas, Solar

Petratherm (PTR) – Geothermal

Black Rock Mining (BKT) – Graphite used in energy storage

Pacific Energy (PEA) – Biogas

Alterra Ltd (1AG) – Sustainable agriculture

Daft way to run a business

Why the celebration? CM is all for equal opportunity. Just not equal outcome. As CM said at the time of the US soccer team’s whinging over equal pay, if Megan Rapinoe and team make more revenues and broadcasting rights, pay them “more” than their male counterparts, not the same. Who could forget the almost North Korean level chants of “equal pay” during the Women’s World Cup this year?

How is equal pay remotely sensible for the Football Federation Australia’s (FFA) women’s team, the Matildas? Surely within the women’s team, there are proper stars and average players. Will those pay rates be equalised? So that the women’s soccer supremo that scores the most goals and achieves the highest number of tackles gets paid the same as the forward who can’t score and can’t defend to save herself? Who do the fans want to see? Who powers the turnstiles?

Look to other sports. Lewis Hamilton in F1 gets paid multiples more than fellow competitor, Romain Grosjean. Same job, Same conditions. Same everything. Yet, the 6x world champion gets factor fold levels of advertising dollars, hence he also banks that in his contract. Marc Marquez, the 8x world champion in MotoGP gets paid a fortune. Whereas Tito Rabat does not. Maybe because he is leading most of the time that the race coverage is focused at the front, rather than the back. It is all based on performance and TV exposure. Michael Jordan, Shaq, A-Rod and so on. The cream always gets paid what the market will bear. Some might call the $100mn that Ronaldo gets paid at Real Madrid as excessive but the club wouldn’t pay it if his magic didn’t cover the bills.

Ronaldo has 78 million Twitter followers vs his Real Madrid captain, Sergio Ramos who has a pitiful 16m. Surprise, surprise. Ronaldo makes more. Rapinoe has 899,700 followers. Should she get paid the same as Ronaldo? US men’s soccer team player Landon Donovan has 1.4m followers. Does the USSF see that the box office is sadly still skewed to the men’s game?

Once again, 260m watched the Women’s Soccer World Cup final in 2019. The 2018 men’s World Cup in Russia saw 1.12bn tune in for the final. 4.3x the audience.

To quote the Football Federation of Australia’s annual report of 2018,

Sydney FC had the honour of hosting the Westfield W-League 2018 Grand Final against
Melbourne City FC at Allianz Stadium. In front of a vocal crowd of 6,025.

Six thousand. Rugby Australia CEO Raelene Castle can feel a bit better about the abysmal attendance rugby has at home for the domestic series.

The men’s Melbourne Victory vs Newcastle Jets soccer final in 2018 saw 29,410 fans attend that match. 5x that of the women’s final.

Same for the Matildas. They achieved a peak crowd attendance of 16,829. The men’s Socceroo team saw 77,060 supporters at ANZ Stadium on 15 November 2018. 4.6x more fans watched the men’s national team over the women’s. It is nothing to do with gender. Fans prefer the men’s game. Because of that, sponsors are willing to pay for greater exposure.

This is not to denigrate the Matildas. It is to point out that this constant pandering to “equal pay” is a disastrous way to win over fans. Because if the right talent isn’t paid accordingly, an overseas league will quickly bid them away and hollow out the local market. Attendance will drop and the revenues and sponsorship dollars will dry up with it. Doesn’t require rocket science.

Still, get woke, go broke. The Wallabies are proof is in the pudding for management that focuses on inclusivity and diversity instead of accepting reality of what actually pays the bills – the fans. The financials continue to deteriorate.

By all means, if the Matildas smash the Socceroos for revenue, viewership and broadcasting rights then by all mean pay them more, not the same. Welcome to the Democratic Peoples Republic of Australia in 2019 where virtue signalling means more than merit.

Just watch the mainstream media gush at how progressive the FFA is before realising in years to come just how regressive it eventually becomes for the game and how could it have happened?

Poor kid

This is what happens when poor Greta Thunberg hasn’t got a script given to her by her captors. One would have thought with the Oscar winning performance of several days ago she would have the conviction to respond with a bit more fire and brimstone with respect to making demands of Trump.

It is so sad to see her exposed like this because in the end she is a vulnerable teenager who means well but is suffering immense harm being used as cannon fodder in the hyper-political snake pit.

How dare they. #setherfree #freegreta