14 May the grace of the Lord Jesus Christ, and the love of God, and the fellowship of the Holy Spirit be with you all.
4 Even to your old age and gray hairs
I am he, I am he who will sustain you.
I have made you and I will carry you;
I will sustain you and I will rescue you.
10 Teach me to do your will,
for you are my God;
may your good Spirit
lead me on level ground.
“I love the LORD because he hears my voice and my prayer for mercy. Because he bends down to listen, I will pray as long as I have breath!”
1 I love the Lord, for he heard my voice;
he heard my cry for mercy.
2 Because he turned his ear to me,
I will call on him as long as I live.
18 When I said, “My foot is slipping, ”
your unfailing love, Lord, supported me.
19 When anxiety was great within me,
your consolation brought me joy.
Key findings from Executive Excess 2012: The CEO Hands in Uncle Sam’s Pocket — from the Institute for Policy Studies by Sarah Anderson, Chuck Collins, Scott Klinger, Sam Pizzigati
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Key findings:
- Of last year’s 100 highest-paid U.S. corporate chief executives, 26 took home more in CEO pay than their companies paid in federal income taxes, up from the 25 we noted in last year’s analysis. Seven firms made the list in both 2011 and 2010.
- The CEOs of these 26 firms received $20.4 million in average total compensation last year. That’s a 23 percent increase over the average for last year’s list of 2010’s tax dodging executives
- The four most direct tax subsidies for excessive executive pay cost taxpayers an estimated $14.4 billion per year—$46 for every American man, woman, and child. That amount could also cover the annual cost of hiring 211,732 elementary-school teachers or creating 241,593 clean-energy jobs.
From DSC:
Considering our corporations are sitting on $1.X trillion, where is our nation’s heart? Priorities? Care for fellow mankind? It seems the “every man for himself” philosophy and manner of living is alive and well here in America. My alma mater would be proud — it’s their philosophy exactly.
Key quote/lesson from “How Barnes & Noble destroyed itself” — from fool.com by John Maxfield
An unnecessary tragedy
What makes B&N’s story tragic from a shareholder’s and book-lover’s perspective is that it wasn’t inevitable. The company would be in an entirely different position if its leadership hadn’t pooh-poohed online retail in the late 1990s, when the now-dominant Amazon was in its infancy. Consider this from its 1998 annual report: “Although it is clear the World Wide Web, with its profound possibilities, will become a major component of the future of bookselling and publishing, we believe retail bookstores will remain the foundation of our industry . . . shopping and browsing in a bookstore is an irreplaceable experience, and it is woven securely into the fabric of our American culture [emphasis added].”
From DSC:
I love going to B&N; sipping some coffee and reading a book. So don’t get me wrong, I really enjoy the physical experience of going to a bookstore. But the lesson for higher ed — as well as for the corporate world — is that technology cannot be pooh-poohed and shoved aside. Those who do so will be very sorry that they chose that route. There can be danger in pursuing the status quo.
How about your organization…is there solid representation of technology on your board/executive suite/leadership team?
My last thought here relates to my posting What happens in our hearts has very practical, relevant implications in our daily lives
In 2009, the company paid its chairman of the board, Len Riggio, nearly $600 million for B&N College, an amalgamation of campus-based bookstores that controlled the rights to the parent company’s trade name and was then owned by Riggio and his wife.
At the time, it looked like a classic covetous overreach by an executive to extract capital without selling shares. When all that’s left of B&N is a Harvard case study, however, my guess is that this blatant display of avarice and disregard for minority shareholders will be characterized more ominously as the proverbial straw that broke the camel’s back.
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Also relevant here:
- ReadWriteWeb DeathWatch: Barnes & Noble — from readwriteweb.com by Cormac Foster
13-foot 12,000-pound mechanized robot suit now for sale in Japan — from venturebeat.com by John Koetsier
Also see:
and:
From DSC:
These items cause me to reflect yet again on the state of our hearts...as it doesn’t take much to think of the next steps in terms of using such robots as instruments of war. Do you think I’m stretching a bit too far here? How about after considering the following interactive visualization that Google just created?
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Addendums:
- [On 8/28/12] How about after reading This week in bots: The robots we build to kill for us — from fastcompany.com by Kit Eaton?
- [On 10/4/12] Homeland Security wants drones for public safety, doesn’t want to tell public about them — from spectrum.ieee.org by Evan Ackerman