Establishment

Brain dead anoint the brainwashed

The University of Mons in Belgium will anoint 16yo Greta Thunberg with an honorary doctorate in October this year. Will this trigger participation doctorates for all kids who sing the climate emergency tune?

It ranks up there with all of the justification that led to Obama’s Nobel Peace Prize 9 months into his presidency. Literally none. It is pure virtue signaling. It reflects on the university’s clear preference for closed debate.

What troubles CM is that the soon to be Dr Thunberg will be abused even more by those pushing the climate narrative. She is the perfect human shield to the divisive machine that lurks begins her. It is hard to criticize a movement when the face is a child.

She faces either nothing happening with the climate and being exposed as brainwashed. Or the policies she espouses will lead to such a miserable existence that life will be even more miserable that it is now.

This is not to criticize Thunberg per se. She is undoubtedly a very brave girl to face world leaders with a scripted message.

However there is something so Soviet about the way she is the face of the climate change movement, which is the effective trendy thing to be much like socialism was in the 1980s.

Thunberg is a great example of how schools are corrupting young minds. Whether climate change, gender fluidity or cross dressing days, these things have nothing to do with balanced education and critical thinking.

What a surprise to see Sweden’s PISA education scores falling in mathematics, science and reading. Scarily below Australia which has been on a long term decline too.

Naturally the media will overlook this and chant “progressivism” as the way of the future despite their own socialist rhetoric clearly point to “extinction”.

Can we please get some adults in the room?

Here is a picture from the angelic pig-tailed climate strike goddess Greta Thunberg’s Twitter feed calling for another global school strike. The climate change activists are really at the point of maximum desperation. Kids are now being weaponized to fight climate change because the supposed adults in the room have done such a woeful prosecuting the case to the heretic non-believers.

It is hard to speak to those who dismiss one as a knuckle dragger from the start. What is lost on alarmists is that skeptics merely wish to be presented with facts and figures not sanctimonious finger wagging. In 99.9% of cases, when politely asking to be provided with facts, it ultimately leads to ad hominem attacks. “Your kids will thank you for it” is an argument often used as a condescending way to end a debate before it has even started. Others resort to saying skepticism comes from regrading quack websites resourced by the fossil fuel lobbyists, When CM asks alarmists about whether they have concerns over the multiple cases of fraud committed by scientists from the very (often government) bodies they spruik, not one has voiced issues with their ethics. At that point they have lost CM.

If alarmists can’t admit the fraud committed from their own side, it shows that they are utterly indoctrinated. 1+1=3. Fraud is fraud. CM has often argued that climate scientists face absolutely zero repercussions for peddling falsehoods. None. Think of the penalties handled out to the financial sector. There has been much malfeasance committed in the last few decades that have resulted in humungous penalties.

WorldCom CEO Bernie Ebbers was sentenced to 25 years based on nine counts of conspiracy, securities fraud and false regulatory filings to the tune of $11bn.

Enron’s former CEO Jeffrey Skilling was convicted on 35 counts of fraud, insider trading and other crimes related to Enron and sentenced to 24 years prison and fined $45 million.

Madoff got 150 years for his $65bn Ponzi scheme, Allen Stanford received 110 years jail for his $7bn fraud.

Yet when the scientific community commits fraudulent offences, they’re not even brought to trial. Nothing. Even worse the alarmists are only too happy to wheel out the very same scientists who have made dud predictions and push them as experts in their field.

How are billions in taxpayer funds that bail out Wall St any different from billions of taxpayer funded adventures into redundant climate change white elephants based of manipulated scientific claims any different?

CM reckons that if climate scientists faced steep fines and penalties for committing data fraud we would quickly work out we had way more than 12 years to live. Why not provide an amnesty period for scientists to come clean on any manipulation without facing any prosecution? After the date they would face stiff treatment. That is the only way to kill this industry at the source.

If scientists were forced to come clean with the truth, we would find that all of the grossly inaccurate models predicting gloom and doom were shown up for what they really were. Empty rhetoric.

Maybe the secret to solving the climate emergency is child’s play after all? Make the rules of malfeasance so transparent that even a 5 year old can understand.

If we look at the whistleblowing rules introduced by the SEC in 2011, it offered the whistleblower 10-30% of the monies saved through fraud as a reward. Surprise, surprise whistleblowing claims have shot up 16-fold since the rule’s introduction. In 2011 only 334 claims were made. In 2012, 3,001 were made. In 2014, 3,620. In 2018 it was 5,282. A total of $168mn was paid out to 13 individual whistleblowers.

Given so many scientists are probably aware of the manipulation that lies within the ranks, they have far more opportunity to dob in their crooked colleagues and collect a massive pay day.

No need for #ClimateEmergency. As the Australian Democrats used to say as an election slogan, “keep the bastards honest!”

Palaszczuk backflips on Adani

What a farce. Queensland Labor Premier Annastacia Palaszczuk is about to backflip on the Adani coal mine approval after her federal colleagues were wiped out in Queensland.

Typical. She’ll still lose the next state election in October 2020 for this expediency. She had to weight for the litmus of a federal election to find her missing conviction. Total clown show.

The people have spoken. So all the radical left activists have failed. The bullying of the banks which caved in to this pressure are no better.

This approval process has been 8 years in the making. An Indonesian coal mine took only 18 months.

Queensland Government appointed an advisor, Tim Seelig, to the Dept of Environment. As an anti-coal Greens activist it seems apparent he threw up roadblocks to dissuade Adani from going ahead by unnecessary and overbearing approval processes.

Now Palaszczuk is considering launching an inquiry as to how Seelig was hired into the role despite the applications deadline having ended. Another backflip.

Once again – get woke, go broke!

Your ABC vs Jacinda’s TVNZ

If you want to look at why the ABC doesn’t need more money, look at the staff costs to income ratio. Despite plateauing between 2008 & 2011 it quickly exploded. It now sits at 46% of income generated. That is $524mn on staff costs per year and rising. 4,939 staff grace the ABC. Revenue per employee is $232,000. A decade ago it was $232,700. Is that what the management target for hiring? Give the ABC $2bn and presumably it will have employment costs of $1bn.

Channel 9 must fight hard for every advertising penny but still manages a 29.1% staff cost to revenue ratio. $380m in staff costs on $1.3bn revenue. 3,310 employees converts to $392,750 revenue per staff member.

Sevenwest Media raked in $1.62bn in revenue on staff costs of $395mn or 24%. Same cutthroat world of earning a living instead of expecting one. Seven West has 4,528 staff meaning it generates $357,800 in revenue per employee.

Maybe ABC should channel the New Zealand state broadcaster, TVNZ. It gets $310m of its $318m purse from advertising. It’s staff costs excluding capitalizing into programs is $72m which converts to 23% staff cost/revenues. They do with 642 FT employees. Revenue/employee is $495,000. It paid a dividend back to the government of $3.7m. i.e. it is a revenue generating asset.

In 2007, TVNZ had $339m in revenue. It employed 1,023 people. Therefore revenue per employee was $331,380. So in a decade, TVNZ efficiency improved almost 50%. A 6% cut to revenue on 63% of the staff.

Instead of the long term ratings slide at the ABC across metro and regional Australia, TVNZ’s figures keep improving. Last year, TVNZ had a 43.2% all day audience up 1.3%.

Comparing 2017/18 and 2015/16 at the ABC we see that TV audience reach for metro fell from 55.2% to 49.7% and regional slumped from 60.3% to 54.0%. If we go back to 2007/8 the figures were 60.1% and 62.4% respectively. For the 2017/18 period, the ABC targets 50% reach. Hardly a stretch.

Maybe ScoMo should consider that the ABC compete and become self funding? The New Zealanders aren’t just better than us in rugby union but also in media.

Go woke, go broke

Yet another example of why CM has cancelled his FT subscription. Where is the critical reporting? This article by Pilita Clark doesn’t critique the ridiculous movement by corporates to virtue signal but falls in line with the stupidity.

Maybe the best metaphor for the woke corporation is parsley. It often looks nice as a garnish but 99.9% of us push it to the side of the plate and leave it to be thrown away.

Corporate hypocrisy is everywhere.

Take Josh Bayliss, CEO of Virgin Group. He says,

“It’s definitely true that right now every one of us should think hard about whether or not we need to take a flight.”

Why doesn’t he close down the airlines in the portfolio? Instead of waiting for his customers to grow a conscience and do the right thing why not force their choice? The obvious answer is that it’s hypocritical.

Airlines operate on about 70% capacity load factor break even so if Virgin flights end up being half full he’ll only end up spewing more or less the same CO2 per flight and go out of business. British Airways, EasyJet and Ryanair will welcome Virgin’s virtue signaling. Go woke, go broke.

Qantas has the world’s largest carbon offset program yet only 2% of passengers elect to pay. That’s the extent of the belief in global warming.

Blackrock’s chief Larry Fink said his asset manager needs to do more than just make money yet it only backed 10% of the climate related shareholder proposals. Why? Supposedly because they would crush profits. All talk, little walk.

BP surprisingly helped prevent a carbon tax it openly launched support for. A fossil fuel company trying to undermine a carbon tax? Wow. Who’d a thunk?

UK shadow chancellor John McDonnell has said Labour would seek to delist companies from the London Stock Exchange that didn’t meet their climate change commitments. In order to meet that, will that mean a child daycare company will be burnt at the stake for not brainwashing kindergarten kids? Will there be a minimum pot plant to child ratio?

How would regulations impact the myriad of different businesses that would trigger being dumped from the LSE? What standard would be applied? CM is betting corporates jus need to “file” a governance statement on climate change which no one will read. As long as 100% of companies file, nothing will happen.

Pretty easy to avoid too. Companies could list on Nasdaq or the Singapore exchange to avoid the regulations and still raise capital. Did you think of that Mr McDonnell? No because it is all about being woke and there are plenty of alternatives to dodge stupid policy. Capital is global.

Pilita Clark closes her article by saying,

“Yet the climate debate is shifting and I am willing to bet that companies failing to match their green claims with solid action face far greater risks than they ever have before.”

Like much of the climate religion, few hard facts are ever presented except the date we are all supposed to die. Even then that is an ever-shifting goal post. We can be assured that when 2028 arrives all of a sudden we’ll have another 12 years to do something. A bit like the joke where a patient asks his doctor how long he has to live and is given an extension so he can pay his bill.

The ever-growing tide of the “woke” corporation is going to thwart ingenuity and entrepreneurship. It is corporate suicide to pander to this nonsense. It is not for companies to bang on about their wonderful commitments. Customers and shareholders can decide for themselves. Maybe if companies listened to both groups they would find profits go up. People are growing sick and tired of being told what to do. How to think.

The world is littered with corporate wokeness backfiring. The irony is much of it is self-inflicted. By trying to create false images of virtue, the results have been disastrous.

P&G had to write off billions from its Gillette brand for the toxic masculinity campaign. Before the campaign Gillette was ranked 7th out of 45 health and grooming brands. After, rock bottom.

There is almost a wave of corporate fear twisted by a minority of social activists like Sleeping Giants which create false narratives about public perceptions of evil companies. There is a flip side.

Chick-fil-A was established by Southern Baptists. They don’t ram their Christian beliefs at all in the restaurants. Activists tried to boycott the fast food outlet because one of the directors personally didn’t support same-sex marriage. Guess what, store numbers have doubled and revenues tripled over the last decade.

Chick-fil-A states it’s mission is, “To glorify God by being a faithful steward of all that is entrusted to us. To have a positive influence on all who come in contact with Chick-fil-A.”

Chick-fil-A is notable by its closure on Sundays, Thanksgiving and Christmas. So people are well aware ofthis corporate backing its religious beliefs.

There is a difference between founding a company on certain beliefs and concocting them to ride a wave of hijacking social movements. Customers are aware of the difference.

Virgin Group can wax lyrical about its concerns in trying to save the planet but the only woke thing would be to shut down. Pushing the guilt back on its customers shows how hypocritical the airline is.

To be honest it gets tiring waiting in corporate lobbies watching flat panel TVs advertising all of the wonderful community things they do. 99% of the transaction with any corporate will be driven by the ability to deliver goods and services, not supporting tree planting. It is not to diminish charity or good intentions, rather to cut back on acting as though they’re angels to avoid being put on an imaginary naughty step that doesn’t exist.

Perhaps CM should recommend a portfolio of non-compliant ESG companies. When the market sells off, all the passive money in ESG compliant names should well underperform those that don’t. Perhaps an asset manager should establish an ETF with a basket of companies that just provide product or service rather than garnish it with lashings of corporate virtue. Here is betting it would be a contrarian winner.

Open letter to Lisa Wilkinson

Dear Lisa,

Oscar Wilde once said that, “the only thing to do with good advice is to pass it on. It is never of any use to oneself.”

Your open letter to Australian PM Scott Morrison effectively pleads for him to ignore the election result and adopt the policies that cost Bill Shorten his job. Labor’s platform was repudiated by the Australian people.

What is it with the left that is so preoccupied with Jacinda Ardern? Her domestic policy track record is awful. Copying Australia’s gun ban does not absolve her of failures elsewhere. Yes, she is young and progressive but it would have been nice for her to understand the cultural significance of donning the hijab rather than thinking it’s just a garment to augment her virtue signaling. Maybe you should talk to Rita Panahi to get a proper perspective on what it means to wear one.

Do you really think the PM will call his counterpart across the ditch if he needs to reach out? Morrison would seemingly have the answers to win an election within 9 months of taking over the leadership after Turnbull had trashed the Liberal brand. That is what his new party is for. He has their loyalty.

Your request to push for stable government is not lost on Mr Morrison. CM hates to tell you that the Prime Minister almost single-handedly won against all the odds and that has absolutely cemented his leadership. Do not forget the cabal of duplicitous leftists (Turnbull, Pyne, Bishop, Banks etc) within the party are thankfully all gone. The LNP can now be healed under his leadership. Did you honestly miss the significance of his win?

It wouldn’t be a letter from a host of The Project if climate change wasn’t on the menu! CM is pretty sure you voted for Zali Steggall in Warringah. Her sole policy platform is climate change. She emphatically said it in her victory speech.

Sadly, the Australian people rejected foolhardy renewable targets that Steggall wants to pursue. The Labor Party can’t risk running a climate change agenda again. Steggall’s targets are more extreme than Labor. Aussies at the coal face know better than Mosmanites at the Avenue Road Cafe how their financial livelihoods could be irrevocably damaged by Labor/Green climate policies. It is now a dead issue.

Did you know that Australia contributes 0.0000156% of global CO2? That means even if we went 100% renewable our impact is zip. Nada. Zero. Your husband’s Tesla has already travelled 150,000km in CO2 terms before it left Elon Musk’s factory.

CM advises you to watch the Sir David Attenborough documentary, Climate Change: The Facts, and note it is almost completely devoid of hard numbers. Many heart string pulling pictures but it is best you put faith in the PM to hit emission targets without trashing our economy in the process. Mr Shorten couldn’t put a price on climate change and paid a huge penalty because of it.

Please do not be concerned with the hot temperatures. It was hotter in the 1890s and early 1900s. Our Bureau of Meteorology has already been in quite a bit of trouble for fiddling the temperature figures. Feel more sorry for iguanas in Florida that fell out of trees due to the bitter cold and snowfalls.

As far as poverty goes, Australia has some of the lowest rates among 1st world nations. Spare a thought for the 118mn Europeans that live below the poverty line, over twice the rate of Australia. 23.5% of Europeans live below the poverty line and 330,000 German households had their electricity cut off because they couldn’t afford to pay for the record high power prices thanks to renewable energy policies. By the way 42,000 Aussies suffered the same fate last year.

Please quit with the “gender pay gap” nonsense. If companies could hire women at 14.1% less than men for the same job then there would be no point hiring men. Your pay packet is superior to many of your Project co-stars so you’re hardly oppressed by the gender pay gap. Choice of industry has a greater bearing on pay than gender.

Childcare is an issue which is being addressed. Domestic violence is way too high but do not ignore the statistics which show female violence against men. It just goes unreported.

While your sentiments are no doubt well intentioned, Jacinda could learn far more from ScoMo on how to win an election given the NZ PM has never achieved it in her own right.

Yours sincerely,

M. Newman, Contrarian Marketplace

Who’d of thunk?

This is what happens when feminist activism hits the work place. It has the opposite of intended effect. Leanin.org has found in a survey it conducted that since the #MeToo movement took hold, 60% of male managers said they are now uncomfortable interacting with women at work – up 32% from 2018. Workplace interactions that men have become nervous about include mentoring, socializing and having one-on-one meetings with women.

Senior men who were also surveyed were 9x more likely to hesitate to travel with a woman and 6x less likely to have a work dinner with women.

Lean In’s founder and Facebook’s chief operating officer, Sheryl Sandburg said,

The problem is that even before this, women – and especially women of color – do not get the same amount of mentoring as men, which means we’re not getting an equal seat at the table, and, you know, it’s not enough to not harass us. You need to not ignore us either.

Men are not ignoring you. Sadly when men can (and have) lose (lost) careers for unsubstantiated claims against them by women forgive them if they feel intimidated.

Who could have predicted this? Now it is men’s fault for not reading feminist minds on how they must act. Sandberg has an answer for that too,

If there’s a man out there who doesn’t want to have a work dinner with a woman, my message is simple: Don’t have one with a man. Group lunches for everyone. Make it explicit, make it thoughtful, make it equal…Men need to step up. We need to redefine what it means to be a good guy at work.”

Welcome to 2019. At least one thing hasn’t changed. Men are to blame for everything.

When will these activists realize that politicizing the work space dampens cooperation and kills off ingenuity and entrepreneurial spirit.