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Our first two installments have dealt with the origins of the Deep State in North America by reviewing the creation of the Rhodes Scholarship/Chatham House network at the end of the 19th century and the infiltration of indoctrinated scholars into every governing branch of western society. We traced the key players in this Oxford-based network who were formed with the intent of fulfilling the will of Cecil Rhodes to “form a church of the British Empire” and undo the effects of the American Revolution as a global phenomenon. We also saw how these networks worked closely with another early “think tank” called the Fabian Society in order to advance an agenda that required the destruction of the sovereign nation state system which had been founded upon the 1648 Treaty of Westphalia. This was exemplified by the 1999 “Chicago speech” of Fabian asset Tony Blair when he stated that the world must now embark upon a “post-Westphalian order” setting the stage for 9/11 and the new era of regime change that was soon unleashed. In the following report, we will look at the origins of the Fabian Society, by examining some of its founding members and governing philosophy.
The Nature of the Beast
Polarization is the name of empire. If a society can be kept under the control of their belief in what their senses tell them, then the invisible structures governing their behaviour will remain mystical and unknowable. More importantly than that, those intentions shaping such structures towards a pre-determined goal will also remain unknowable. If unknowable, then beyond the reach of judgement, and if beyond the reach of judgement, then unchangeable. This has been the great secret of empire since the days of the Babylonian priesthood and Babylon`s whore Rome, since whose collapse, three more incarnations have manifested themselves in the forms of the Byzantine, Venice and Anglo-Dutch empires. This is the dynamic at the heart of what has today come to be known as “the Deep State”.
With the 15th century rediscovery of the efficient power of self-conscious reason as a knowable and self-developing potential in the soul of every human, the renaissance-humanist conception of mankind had blossomed. With that conception of imago viva dei (1) led in large measure by the unique discoveries and life`s devotion of Cardinal Nicholas of Cusa (1401-1460), a revolution in science, art and statecraft occurred. Natural law both in the sciences, in the arts and especially as a standard when shaping physical economic policy became accessible to self-consciousness.
With such discoveries came new principles of self-organization, such as the 1648 Peace of Westphalia that not only put an end to the oligarchy`s 30 year religious warfare, but established the principle of `The Benefit of the Other` as the basis of national sovereignty. From the 1648 Peace, a new platform was created upon which the next great revolution could begin with the 1776 American Declaration of Independence. With the 1776 Declaration and 1789 Constitution, a nation founded upon life, liberty and the pursuit of happiness was instituted for the first time amongst men. By 1791, Alexander Hamilton, First Treasury Secretary and Benjamin Franklin protégé established his American System of Political Economy with his 1791 reports on the National Bank, Public Credit, and most importantly the Subject of Manufactureswhere Hamilton defined the purpose and value of economic planning, not according to “pleasure/pain, utility or money”, but rather “to cherish and stimulate the activity of the human mind, by multiplying the objects of enterprise, is not among the least considerable of the expedients, by which the wealth of a nation may be promoted. Even things in themselves not positively advantageous, sometimes become so, by their tendency to provoke exertion. Every new scene, which is opened to the busy nature of man to rouse and exert itself, is the addition of a new energy to the general stock of effort.”
This American System was the effect of rigorous studies of Platonic texts such as the Republic, and the French Cameralist (aka: Dirigist) economic school as applied by such leading organizers of the Westphalian Treaty as Cardinal Mazarin, and France’s Finance Minister Jean-Baptiste Colbert, not to mention their spiritual heir, the great scientist and statesmanGottfried Leibniz. Nearly written out of today’s history books, these men played a direct role in the formation of the early colonies of the Americas and New France. In his 1984 So You Wish to Learn All About Economics?, a modern representative of this tradition, Lyndon H. LaRouche (1923-2019), credits Leibniz as also having been the founder of the science of Physical Economy and intellectual inspiration for the American System (2). Virtually every nationalist American president who attempted to revive this system throughout the coming two centuries, including President Trump today had to contend with Britain’s deep state structures within America itself.
Marx and Smith: Two Imperial Reactions to American Progress
Our most recent 500 years of universal historyhave been principally driven by the British oligarchy`s burning fear of the applied truth of these discovered principles of self-organization of mankind as a whole. Every innovation by the British Empire since that time, has been effected specifically with the intention of undoing the truth that such singular leaps in potential imply for humanity`s true destiny.
In order to obscure the truth of the American System`s success and even existence as an idea, two programs were formulated by liars and fools directly under the pay and control of the leading priests of the British Empire. The first was known as Adam Smith`s doctrine of Free Trade as elaborated in his 1776 Wealth of Nations. The second was Marx`s doctrine of Communism as elaborated in his 1867 Das Capital. Wealth of Nations was a response to the American Revolution, and served as a framework to convince the new republic to abandon plans at developing manufacturing and remain agrarian, emphasizing individual liberty/pleasure but not the well-being of the whole. In Smith’s doctrine, national rights to protectionism against the dumping of cheap goods and directed credit were antagonistic to “self-regulating marketplaces”. Inversely Marx’s Capital was produced as a response to the `2nd American Revolution` of 1865 and served as a sophistical argument to attempt to control the industrialization built up by the Hamiltonian American System since 1791. Das Capital focused on the utilitarian “Good” of the whole at the expense of the individual.
Both systems of Smith and Marx were not only grounded in a radical empiricism (belief in the validity of sense-impressions), but also empiricism`s necessary corollary: that mankind is in essence no more than 1) his material flesh and 2) his ability to adapt to his material environment, both political and physical. Thus, contrary to the Renaissance humanist view that premises mankind’s essence on his soul and capacity to express his creative personality by discovering and changing the laws of the universe for the better, the empiricist of the left or the right, concludes that mankind is actually a beast. Creative leaps of progress in the arts and science which apparently separate man from the biosphere, and permit for the increase of the productive powers of labour without intrinsic limit must be assumed by the empiricist to be merely chimerical anomalies which must be kept as obscure as possible from the mass of the human cattle.
By Marx’s day, Darwin’s thesis of natural selection as the effect of a constant struggle for existence had provided new fuel for the imperialist’s world view and had fed Marx’s thesis. After reading On the Origin of Species, Marx sent a personally signed copy of Das Capital to Darwin in 1873 and had a German edition dedicated “In deep appreciation for Charles Darwin”.
Both systems also share the common lie that since universal principles are unknowable, that the only metrics a society is permitted to use in judging value are some mixture of “pleasure” and “utility”. Of the two, Smith was much more explicit in his writings on this point. In his Theory of Moral Sentiments (1759), he writes:
“Hunger, thirst, and the passion which unites the two sexes, the love of pleasure, and the dread of pain, prompt us to apply those means for their own sake, and without any consideration of their tendency to those beneficent ends which the great Director of nature intended to produce by them.”
Fabianism: Fascism from the Left
It is a fact that cannot be missed by the honest intellect that recent history has been shaped by agencies operating outside of the general field of perception of the majority of the population. As previous reports have documented, such agencies have expressed themselves in the form of two polarities operating from one Oxford mind during the first years of the 20th century. Those two operations were the Round Table Movement catering to the so called “new right” anglophiles of the world on the one side, and a “new left” sect known as Fabian Socialists on the other. Through their various manifestations over the century, both organizations have worked together to create structures of thought, belief and law which lock their victims into a world where creative improvement of man and nature mediated by self-conscious reason is abandoned.
In this world of no change, the ugly fact of diminishing returns cannot be avoided since no new resources except those that are already in practice can come into being. In this system of scarcity, the ugly necessity of sterilization, and murder of the unfit based on material considerations (both genetic and environmental) becomes real, and the laws of Malthus become hegemonic. This process of decay has become more popularly known as “Entropy” or “The Second Law of Thermodynamics” (3), and has become treated by a language developed as an outgrowth of the belief called “systems analysis”. The hegemony of systems analysis today is due directly to the Fabian Society networks and Rhodes Trust allies working through both Soviet and Western systems throughout the Cold War.
The Fabian Society was founded by an elitist clique of Darwinian propagandists in 1884 who saw Karl Marx’s newly published system as the perfect vehicle to carry Darwin’s logic into the belief structure of the masses. In fact, all members were devout racists obsessed with the problem of convincing mankind to submit to racial cleansing along the lines prescribed by Herbert Spencer’s Social Darwinism and Francis Galton’s field of Eugenics. Both Spencer and Galton were closely directed by Thomas Huxley’s X Club, at this point entirely in charge of imperial science policy. The eerie Fabian Symbol features a wolf wearing sheep’s clothing.
The most prominent founding members were Sidney and Beatrice Webb and George Bernard Shaw. This group was soon joined by various influential aspiring priests of the British Empire, namely leading Theosophist Annie Besant, Huxley protégé H.G. Wells, Bertrand Russell, Arthur Balfour, and the founder of Geopolitics Halford Mackinder. The name “Fabian” was chosen for the Roman General Fabius Maximus (aka: The Delayer), who’s fame is founded on having beaten Hannibal by never engaging in direct combat, but rather by sheer endurance and attrition. In the founding Fabian document it was written:
“For the right moment you must wait, as Fabius did most patiently, when warring against Hannibal, though many censured his delays; but when the time comes you must strike hard, as Fabius did, or your waiting will be in vain, and fruitless.”(4)
The Fabian society program focused on broad social welfare programs such as universal health care, mass education, and better working conditions which were designed to attract the disenfranchised masses. Under the Fabian program, such programs held no substance in reality, as the true means to justify their creation was banned a priori (aka: scientific and technological progress). That is, the activation of self-conscious reason in all members of society.
This ruse was thus designed to merely bring the will of the lower classes under the deeper influence of a ruling oligarchy via the promise of “democratic socialism” and a naïvely utopian “end of history” ideal. All the masses have to do in order to receive their treats, is to accept being governed by a scientific priesthood which will manage their lives and eventually kill them if they are deemed too numerous or troublesome to maintain. This priesthood will manage pre-existing wealth in such a way as is expedient to placate the mob, but will not allow the creation of new wealth via the activation of the powers of mind as that would force the changing of the parameters of the fixed channels of the system which they seek to manage as gods. The controllers of Fabian Socialism are not, nor have they ever been “democratic socialists”, but brutish social Darwinists. As theosophist Annie Besant said to the Indian Congress party:
“But the general idea is that each man should have power according to his knowledge and capacity. […] And the keynote is that of my fairy State: From every man according to his capacity; to every man according to his needs. A democratic Socialism, controlled by majority votes, guided by numbers, can never succeed; a truly aristocratic Socialism, controlled by duty, guided by wisdom, is the next step upwards in civilization.”(5)
Without a genuine commitment to scientific discovery and the unbounded increase of the productive powers of labour, as laid out clearly in the American System of Political Economy, then no promise of social welfare measures are durable. Any such handouts will necessarily result in a Ponzi-pyramid crisis which will, by its very nature, force the logic of triage and thus fascism onto the dupes that “democratically” permitted its hegemony. All current arguments to cut social security, pension plans, health care, and education are derived from this function. The rise of environmentalism as a “new post-industrial religion” today pushed by a Green New Deal has a blood curdling agenda of depopulation behind its nominal socialist costume.
Working closely with leading figures of Oxford, and especially the Rhodes Trust, the Fabians set up their own school with Rothschild funding called the London School of Economics (LSE) in 1895. The ideological framework employed by both the LSE and Oxford agents were always formulated by Cambridge, which to this day remains the core intellectual hive of the empire’s rotten ideas. Oxford and LSE continue to exist primarily for the purposes of setting up programs which “apply” those “pure” ideas formulated in Cambridge into general practice in the interests of the ruling oligarchy. Prominent Fabian controllers who recruited young talent at the LSE were Frederick von Hayek, Bertrand Russell, John Maynard Keynes, and Harold Laski.
Five years after LSE was established, the Labour Party was created as the official Fabian political party. Its function was essentially take over the role of the left from the Liberals in opposition to the Conservative government which had previously been the two hegemonic parties in Britain. One of the most perverse members of the movement, playwright George Bernard Shaw laid out the method of permeation which had governed the Fabian success in permeating influential socio political institutions:
“Our propaganda is one of permeating – we urged our members to join the Liberal and Radical Associations in their district, or, if they preferred it, the Conservative Associations – we permeated the party organizations and pulled all the strings we could lay our hands on with the utmost adroitness and energy, and we succeeded so well that in 1888 we gained the solid advantage of a Progressive majority full of ideas that would never have come into their heads had not the Fabians put them there.”
This is exactly what was done. Over this century, the LSE has conditioned dozens of heads of state, tens of thousands of civil servants and several generations of academics.
In Canada this process was replicated in 1931 when the “Fabian Society of Canada” was created by 5 Rhodes Scholars and dubbed the League of Social Reconstruction. It quickly created a pro-eugenics political party called the Cooperative Commonwealth Federation in 1932 which changed its name to the NDP in 1961. Many of its core controllers took over the Liberal Party after the purge of pro-American system statesman C.D. Howeand his allies after 1957.
More cabinet officials under Barack Obama had studied at Oxford and LSE than its American counterparts Yale, Harvard or Princeton (6). This is the essence of the Deep State which has sought to overthrow President Trump ever since he became a serious candidate in the 2016 elections.
This method of “permeation” is analogous to a virus taking over the white blood cells of a victim. At first, the virus’ presence in the system is hardly noticeable, but when organs begin to unexpectedly malfunction, the thoughtless person may foolishly choose not to seek help, but wait for the immanent point at which he is past the point of no return. This infection has taken place thousands of years ago, and while humanity produced bursts of potential led by creative genius over the generations, mankind still has not learned his lesson.
Throwing off Zeus’ Shackles
It is of absolute necessity that now, even at this late date, the lessons of past mistakes are learnt before the lawful outcome of this virus runs its course and kills its host. The essence of mankind’s troubles is not derived by any defect in our nature, or our “greedy yearning for progress”. It is not due to our fixed “selfish nature”, nor will our problems be resolved by adopting a “sustainable” system of zero technological growth under “Green New Deals”. Such a system only exists in the delusional mind of an oligarch or their victims, but not in nature. If such a system were to be imposed on our 21st century society, a genocide magnitudes greater than anything Hitler could have dreamed will be the result.
So let us put away such Fabian theories as “man-made global warming”, and “zero growth green technologies” which will produce only famine, war, and chaos. Let us instead rediscover the identity which was inspired by Benjamin Franklin’s discovery of electric fire. The quickest path to reawakening this identity within the greatest portion of the species is by engaging in such great projects the Belt and Road Initiative, embarking upon a total nuclear power renaissance, and returning to John F. Kennedy’s vision for unbounded space exploration as Presidents Trump, Xi, and Putin have all made national priorities. If the nature of humanity is to truly live as made in the image of the creator, then adapting like an animal to the unchangeable and unknowable cycles of nature is not compatible with our purpose.
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BIO: Matthew J.L. Ehret is a journalist, lecturer and founder of the Canadian Patriot Review. He is an author with The Duran, Strategic Culture Foundation, Fort Russ. His works have been published in Zero Hedge, Executive Intelligence Review, Global Times, Asia Times, L.A. Review of Books, and Sott.net. Matthew has also published the book “The Time has Come for Canada to Join the New Silk Road” and three volumes of the Untold History of Canada (available on untoldhistory.canadianpatriot.org).
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Appendix: The Fabian Society and Round Table: Eugenics by Another Name
The Fabian Society: Eugenics From the Left
In case any doubts yet linger that the Fabians or their Rhodes Trust counterparts on the so-called “right” have advanced their agenda in order to apply genocidal eugenics programs on a scale unimagined by even Hitler, then simply read their own words, and judge for yourself.
“The moment we face it frankly we are driven to the conclusion that the community has a right to put a price on the right to live in it … If people are fit to live, let them live under decent human conditions. If they are not fit to live, kill them in a decent human way. Is it any wonder that some of us are driven to prescribe the lethal chamber as the solution for the hard cases which are at present made the excuse for dragging all the other cases down to their level, and the only solution that will create a sense of full social responsibility in modern populations?”
-George Bernard Shaw, Prefaces (London: Constable and Co., 1934), p. 296
“I believe that now and always the conscious selection of the best for reproduction will be impossible; that to propose it is to display a fundamental misunderstanding of what individuality implies. The way of nature has always been to slay the hindmost, and there is still no other way, unless we can prevent those who would become the hindmost being born. It is in the sterilization of failure, and not in the selection of successes for breeding, that the possibility of an improvement of the human stock lies.”
-H.G. Wells in American Journal of Sociology, Vol. 10 (1904), p. 11
“We may perhaps assume that, if people grow less superstitious, government will acquire the right to sterilize those who are not considered desirable as parents. This power will be used, at first, to diminish imbecility, a most desirable object. But probably, in time, opposition to the government will be taken to prove imbecility, so that rebels of all kinds will be sterilized. Epileptics, consumptives, dipsomaniacs and so on will gradually be included; in the end, there will be a tendency to include all who fail to pass the usual school examinations. The result will be to increase the average intelligence; in the long run, it may be greatly increased. But probably the effect upon really exceptional intelligence will be bad.
Eugenics has, of course, more ambitious possibilities in a more distant future. It may aim not only at eliminating undesired types, but at increasing desired types. Moral standards may alter so as to make it possible for one man to be the sire of a vast progeny by many different mothers. … If eugenics reached the point where it could increase desired types, it would not be the types desired by present-day Eugenists that would be increased, but rather the type desired by the average official. Prime Ministers, Bishops, and others whom the State considers desirable might become the fathers of half the next generation…
If we knew enough about heredity to determine, within limits, what sort of population we would have, the matter would of course be in the hands of State officials, presumably elderly medical men. Whether they would really be preferable to Nature I do not feel sure. I suspect that they would breed a subservient population, convenient to rulers but incapable of initiative.”
“Galton’s eccentric, sceptical, observing, flashing, cavalry-leader type of mind led him eventually to become the founder of the most important, significant and, I would add, genuine branch of sociology which exists, namely eugenics.”
-John Maynard Keynes on Galton’s Eugenics, Eugenics Review 1946
“Political unification in some sort of world government will be required… Even though… any radical eugenic policy will be for many years politically and psychologically impossible, it will be important for UNESCO to see that the eugenic problem is examined with the greatest care, and that the public mind is informed of the issues at stake so that much that now is unthinkable may at least become thinkable.”
-Sir Julian Huxley, UNESCO: Its Purpose and Its Philosophy. 1946
The Round Table: Eugenics from the Right
“I contend that we are the finest race in the world and that the more of the world we inhabit the better it is for the human race. Just fancy those parts that are at present inhabited by the most despicable specimens of human beings what an alteration there would be if they were brought under Anglo-Saxon influence, look again at the extra employment a new country added to our dominions gives. I contend that every acre added to our territory means in the future birth to some more of the English race who otherwise would not be brought into existence. Added to this the absorption of the greater portion of the world under our rule simply means the end of all wars, at this moment had we not lost America I believe we could have stopped the Russian-Turkish war by merely refusing money and supplies. Having these ideas what scheme could we think of to forward this object.”
-Cecil Rhodes, Confession of Faith, 1888
“I do not agree that the dog in a manger has the final right to the manger even though he may have lain there for a very long time. I do not admit that right. I do not admit for instance, that a great wrong has been done to the Red Indians of America or the black people of Australia. I do not admit that a wrong has been done to these people by the fact that a stronger race, a higher-grade race, a more worldly wise race to put it that way, has come in and taken their place.”
-Winston Churchill to the Peel Commission, 1937
A horrific story has sent shock and panic through Pakistan, further entering global headlines at the end of this week: Pakistani police are holding a doctor on suspicions that he intentionally infected over 500 people, including 400 children, with the HIV virus.
The investigation began after an HIV epidemic was uncovered in an urban district of Pakistan's south starting in February, and after over ten families accused a local doctor of treating their children with used syringes.
From there, attention focused on a child specialist in the small city of Ratodero named Muzaffar Ghangharo, who himself reportedly has Aids, and may have infected hundreds with HIV using contaminated needles, but he claims he didn't do it intentionally, which a police investigation is now trying to determine.
According to Al Jazeera the HIV outbreak has sparked a wave of national panic:
Parents flock to screening rooms set up at a makeshift clinic to get their children examined for HIV in a village in southern Pakistan, where hundreds of people have been allegedly infected by a doctor using a contaminated syringe.
At least five different screening rooms have been set up in the last month in the village of Wasayo on the outskirts of Larkana in Sindh province.
"They are coming by the dozens," says a doctor at the makeshift clinic, beset by a lack of equipment and personnel to treat the surging number of patients.
Historically, the Islamic conservative country has long had a low prevalence for HIV, but reports this week say it's now spreading at an "alarming rate".
Families in rural areas impacted, but with little resources and only access to hospitals with poor sanitation practices, are outraged and desperate according to reports.
The child specialist Muzaffar Ghangharo is due in court on May 21st, with Pakistani doctors telling reporters they've counted the total number of infected related to his clinic at a stunning figure of over 500 people, which includes at least 437 children.
Pakistani police are investigating whether a doctor intentionally infected over 500 people, including 400 children, with the HIV virus— EHA News (@eha_news) May 18, 2019
— TRT Worldpic.twitter.com/rSx42lAw33
A local police officer involved in the investigation told The Guardian of the suspect's confession: “He said that he didn’t do anything intentionally. Ghangharo said that in his statement to police. [But] four kids have died and their parents have blamed the doctor for killing them.”
Reports further say the child doctor's professional credentials are unknown at this point. "For the sake of saving money, these quacks will inject multiple patients with a single syringe. This could be the main cause of the spread of HIV cases," one local health official said.
Health workers are now mass screening residents of Sindh province, where the outbreak is concentrated, and have reportedly already tested 16,000 in the past couple months. The province's Aids control program director identified that after testing thousands, which identified hundreds of infected, “Sixty per cent are children less than five years.”
Some of the personal family accounts are absolutely gut-wrenching, such as the following:
A few months ago, Fatima Emaan came down with a persistent fever. So her father, Syed Shah, took the infant to a few doctors, including a local child specialist in Ratodero, a small city in Pakistan’s south.
But the visits seemed only to worsen the 16-month-old girl’s condition. In February, a doctor told Shah his daughter was presenting the symptoms of HIV. On 1 March, her results came back. “They double- and triple-checked it and told us that Fatima is suffering from HIV,” Shah said.
Shah says his daughter was the first child to be diagnosed in what has become an HIV epidemic in the district...
The shocking incident has spotlighted hospital and medical practices and sanitation especially in remoter parts of Pakistan.
This includes complaints of high numbers of unqualified doctors along with the "reuse of syringes, unsafe blood transfusions, and other unsafe medical practices" according to an expert on infectious diseases, Bushra Jamil, at the Aga Khan University in Karachi, in an interview with Al Jazeera.
Nationwide, Pakistan’s health ministry has put the total figure of registered HIV cases at 23,000 — which is tragically expected to grow after the latest crisis.
Submitted by Priceonomics
Each year, the annual Revenue Per Employee rankings for the S&P 500, the 500 largest American companies listed on the NYSE or NASDAQ are relased. Revenue Per Employee (RPE) can be a measure of how efficiently companies utilize human capital. In this report, we will examine the top performers and the worst performers and compare to our rankings from last year.
Before we dive into the company rankings, we looked at the average Revenue per Employee by sector, to see from a broader perspective which industry has the highest human capital efficiency.
Energy & Utilities remains the top performing sector in terms of Revenue per Employee and the only sector with an average Revenue per Employee greater than $1M. Healthcare, Mobile & Telecommunications, and Financial Services sectors are also performing well.
In addition to the absolute numbers, we also analyzed the average growth rate across sectors since FY17.
All sectors saw positive growth in Revenue per Employee in FY18 compared to FY17. Food & Beverage, although the lowest performer in terms of Revenue per Employee at $95K per employee, had the highest growth at 22% year-over-year. Energy & Utilities, the top performer for FY18 Revenue per Employee at an average of $1.7M per employee, also exhibited high growth at 12% year-over-year.
Next, we look more closely at how specific companies are performing. The table below shows the top 25 companies by Revenue per Employee (Revenue per Employee) in 2018 in the S&P 500, along with how their Revenue per Employee compared to 2017.
Energy company, Valero Energy Corporation, tops the chart at $11.4M in Revenue per Employee at the company. Energy companies, in general, dominate this ranking for their human capital efficiency, with 17 out of the top 25 companies in the Energy sector, including Phillips 66, Cabot Oil & Gas, EOG, HollyFrontier, ONEOK, and Exxon Mobil. Three Healthcare companies, AmerisourceBergen, Cardinal Health, and McKesson, appear on the list, as well as two Financials companies, Everest Re Group and CBOE Holdings. The sole Technology company to appear on the list of top 25 companies by Revenue per Employee was video subscription giant, Netflix.
In contrast, the table below shows the 25 companies with the lowest Revenue per Employee in 2018 in the S&P 500, along with how their Revenue per Employee compared to 2017.
Similar to the rankings in 2017, Consumer Discretionary companies top the rankings of worst performing companies in terms of Revenue per Employee. These companies typically require larger employee headcount to staff brick-and-mortar locations to support their operations. For example, food service companies, like Darden Restaurants, Chipotle Mexican Grill, Starbucks, and McDonald’s, all appear at the top of the rankings with the lowest Revenue per Employee. Similarly, as we explored in our previous report, consultancy companies, like Accenture and Cognizant, require large teams to staff engagements and performance is largely tied to how many consultants they have to offer services to clients.
Next, we look at which companies are making the largest increases in their human capital efficiency. The table below shows the 25 companies with the highest growth in Revenue Per Employee in 2018 compared to 2017.
Nektar Therapeutics, a biopharmaceutical company, tops the list with 219% growth in their Revenue per Employee since 2017. Energy companies, which were the top performers in terms of absolute numbers, also rank highly for growth in Revenue Per Employee. Interestingly, Yum! Brands, parent company of KFC, Taco Bell, and Pizza Hut, was able to increase their Revenue per Employee by 70.8% in the past year. However, this was actually due to a large decrease in headcount from 50,354 in 2017 to 32,076 in 2018, according to their annual reports.
The table below shows the 25 companies with the greatest decline in Revenue Per Employee in 2018 compared to 2017.
Two payments companies, Total System Services (known as TSYS) and Global Payments, appeared high on the list for largest decline in Revenue per Employee since 2017. Hasbro, the large toy manufacturer, saw an 18.2% drop in Revenue per Employee in the wake of the Toys-R-Us liquidation. The Healthcare sector, although with high performance in absolute numbers of Revenue per Employee, did also see large decreases in Revenue per Employee, representing 7 out of the 25 worst performing companies.
Finally, we look at Technology companies to see which out of the S&P 500 Technology companies had the highest Revenue per Employee for 2018.
Apple led the rankings, as the only Technology company with over $2M in revenue generated per employee at the company. Facebook and Alphabet, the parent company of Google, both appeared high on the list with over $1M in revenue per employee. Overall, the average RPE for the Technology sector was just under $700,000 and these Technology companies saw 7.3% growth on average from 2017 to 2018.
The fastest growing companies in terms of Revenue per Employee from 2017 to 2018 were: Nektar Therapeutics, Pioneer Natural Resources Company, PVH, Cabot Oil & Gas Corporation, and Sempra Energy. Each saw over 70% growth in Revenue per Employee since the previous fiscal year, with Nektar Therapeutics topping the ranking at 219% growth.
Energy companies continue to have high revenues compared to employee headcount, representing almost 70% of the top 25 companies with highest Revenue per Employee. Energy & Utilities also had the highest average Revenue per Employee on the sector level, and also saw high growth since FY17.
Consumer Discretionary companies have high requirements for human capital to support revenues and therefore, have low Revenue per Employee. Food & Beverage companies, including franchise restaurant companies, had the lowest Revenue per Employee on the sector level, but did see high growth at 22% since FY17.
Note: We excluded a handful of organizations, primarily real estate investment trusts, from our rankings to eliminate a skew in our data, as these companies have very high revenues and low employee headcount due to the nature of their business. The companies we excluded from the list include: Host Hotels & Resorts, Welltower, HCP, Federal Realty Investment Trust, Ventas, Realty Income Corporation, Boston Properties, Alexandria, Duke Realty Group, Kimco Realty Corporation, and Regency Centers.
California's housing affordability crisis is getting worse. Affordability in San Francisco is now at 10-year lows, and only one in five households can afford to purchase a median-priced single-family home in the Bay Area. The crisis has driven many people onto the water, living on makeshift boats, outside marinas, and wealthy communities.
The floating homeless population in wealthy Marin County, just across the Golden Gate Strait from San Francisco, has doubled in the last five years to over 100. The community of 200 barges, sailboats, and other vessels comprise of people who are employed but can't afford to live on land, jobless folks, the homeless, and some people who are mentally ill. Boat life for them isn't easy:
"It's not a free ride. It's a lot of effort to be out here," said Kristina Weber, who moved onto a 54-foot vessel she purchased for $15,000 because she couldn't afford to rent in Sausalito.
Wealthy people on land warn that the floating homeless community is devastating for their community. Weber and her neighbors told The Wall Street Journal these people have brought crime and poor sanitation to their area.
Residents complain that boats sometimes break away from anchor lines in storms, drift into waterfront homes, causing tens of thousands of dollars in damage.
Local authorities have called these seafaring homeless "anchor-outs," because they permanently anchor their vessels outside marinas and shore communities that is a direct violation of the law. Floating homeless communities have also sprung up in overpriced coastal regions from Fort Lauderdale, Fla., to Honolulu, Hawaii.
Law enforcement removed 40 boats along the Oakland waterfront in 2013 and nine were taken away last month, said Brock de Lappe, harbor master for five Oakland marinas.
"They are taking over a public resource," de Lappe said.
Beth Pollard, executive director of the Richardson's Bay Regional Agency, said many of these floating homeless communities started showing up in the waters between the Marin County cities of Sausalito and Belvedere in the last several years.
Pollard and her organization aren't pushing these folks away from the area, but instead helping them secure their boats to more stable anchors.
Jim Robertson, a homeowner in Marin, said these boats have collided with his shore home 16 times over the last two decades, including one time that cost $20,000 to repair his dock.
"Nobody is looking for special treatment, just the enforcement of laws on the books," Robertson said.
His neighbor, Connie Strycker, said the homeless would paddle ashore in dinghies asking for food and water. "They're all filthy, because they have no place to bathe," said the 86-year-old.
Sausalito Police Chief John Rohrbacher said many of the homeless are inexperienced on the water.
Weber said living on the water is very difficult. The 40-year-old uses a dinghy to travel to shore for supplies.
Greg Baker, who lives alone in a 41-foot sailboat, has been on the water longer than anyone in the Marin area. The former tugboat captain said there are too many homeless people on the bay operating vessels with no experience at all.
Baker is leading an effort through a community association to educate the homeless on how to become better operators on the water.
He said that moving isn't an option for him.
"There are two ways I'm leaving: in a black body bag or handcuffs," said the 80-year-old.
While many San Franciscans cannot afford overpriced homes, this latest trend of housing communities springing up on the water with ragtag vessels is a sign of the times: the housing affordability crisis is progressively getting worse.
There have been a number of media stories this week about a major threat to weather prediction: the sale of electromagnetic spectrum for new 5G cellphone service. The problem is that some of the wavelengths being auctioned off for 5G are critical for an important class of weather satellites, with 5G signals potentially undermining our ability to forecast the weather.
Currently, 4G cellphone technologies provide roughly 100 megabits per second (100 million bits per second) of communication speed, while the proposed 5G service could achieve 10 gigabits per second (10 billion bits per second). Downloading movies and animations would be much quicker, with hardwired connections becoming less critical for most uses.
But to achieve such service one needs a larger communications highway, which means the use of more of the electromagnetic spectrum. Electromagnetic energy, such as radio, microwaves, and visible light, are characterized by ranges of wavelength and frequency. The use of these wavelengths is controlled by our government, which can auction off specific frequency/wavelength bands.
Among the spectrum recently auctioned off by the FCC for 5G is a band of frequencies near 24 GHz (GHz is gigahertz, or a billion cycles per second). Unfortunately, this is close to 23.8 GHz, a frequency in which water vapor emits microwave radiation and which is used by weather satellites to determine the three-dimension properties of the atmosphere. And that information is very important for providing the description of the atmosphere that is required for numerical weather prediction.
Why weather satellite information is important for numerical weather prediction
Numerical weather prediction, the foundation of all weather forecasts, depends on securing a comprehensive, three dimensional description of that atmosphere--known as the initialization. The better this initialization, the better the forecast.
One of the key reasons why modern numerical weather prediction has gotten so good is that weather satellites now provide 3D data over the entire planet. Even over remote oceans and the polar regions. Roughly 95% of the total volume of weather information now comes from weather satellites.
Before weather satellites, radiosondes were the main source of weather information above the surface
And the most important source of weather information is from a collection of satellites that contain microwave sounders. These satellites observe the earth by sensing microwave radiation being emitted by water vapor, liquid water, ice, and the surface.
The amount of radiation being emitted can be related to temperature. And different wavelengths/frequencies reveal the conditions at different levels of the atmosphere. To put it another way, by sensing emissions at various wavelengths, one can secure a profile of temperatures at various levels in the atmosphere. Kind of like have radiosondes (balloon-launched weather observations) everywhere. Very valuable information
The Microwave Sounder Unit on the AMSU-A satellite
What is the most valuable of all satellite observations?
Satellites with microwave sounders like AMSU-A (see below). That platform ALONE contributed to a 17% reduction in forecast error in the European Center global model (the world's best)
AMSU A looks at the atmosphere in 15 wavelength/frequency bands or channels, including sensing the atmosphere at wavelengths that the atmospheric water vapor has peaks in emission (see below).
Channel 1 is at 23.8 GHz. The problem is that the FCC has sold off 24 GHz, which is very close to 23.6 GHz. And if the 5G transmitters aren't very high quality, with little spread to neighboring frequencies, they could well interfere with the microwave weather satellites.
Why? Because the weather satellite have very, very sensitive receivers because they are trying to sense the weak microwave emissions of atmospheric water vapor. These sensors could be overwhelmed by the active TRANSMISSION in nearby wavelengths by thousands of 5G cell tower transmissions or other sources.
And the problem is even worse than that. The FCC is planning to auction off more wavelengths/frequencies, some of which are close to other wavelength/frequency bands used by the weather satellites.
The potential harm to U.S. and worldwide numerical weather prediction by interfering with the 23.8 GHz band is certainly real, but difficult to quantify exactly.
First, it will depend on the characteristic of the 5G transmitters and to what degree they will contaminate the nearby weather observation bands.
Second, it depends on how many wavelength bands would be affected.
Third, cell phone coverage does not include the entire planet. One analysis suggests that only 34% of the earth's surface has cell phone coverage, suggesting that roughly 90% of the planet would be clean of interference (71% of the earth's surface is covered by water). But if plans to establish satellite-based 5G on commercial ships and aviation come to fruition, the problem would be much worse.
NOAA, NASA, and U.S. Navy are quite concerned about this issue, with the Navy writing a strong statement of the potential harm. On Thursday, NOAA Administrator Neil Jacobs warned of a potential loss of 1/3rd of current forecast skill. These warnings need to be taken seriously.
The key now is to have close coordination between the FCC and NOAA/NASA/DOD, as well as other international players, to ensure that spectra close to the weather observing frequencies are not used and, if there are, investments in high-quality transmitters, with effective filters, are required by law.
Improved forecast skill derived from weather satellites has had huge positive impact on saving lives and property, and in fostering economic growth. Reasonable actions must be taken to protect the value of weather observations from space.
With the economic expansion almost a decade old, the unemployment rate has fallen to five-decade lows, and real wage growth has modestly expanded.
President Trump has touted today's economic environment as "the greatest economy ever," despite a new study showing 40% of Americans struggle to afford housing, utilities, food and or health care.
The Federal Reserve's monetary policies of the past ten years attempted to generate the wealth effect: by driving the valuations of stock, bonds, and real estate higher, so that people would feel wealthier.
However, 58% of people don't own stocks, and another 35% don't own real estate - which means many Americans didn't fully participate in the sextupling of the stock market and the doubling of real estate prices.
Forty percent of Americans (ages 18 to 65) experienced two or more financial hardships in 2018, statistically the same from 2017. The study concentrated on the first two years of the Trump administration, as well as trying to understand if the debt-fuelled tax cuts would benefit the working class.
The study noted Trump's economic policies hardly alleviated financial stresses experienced by middle/lower-class households last year.
"The modest declines in hardship during the current favorable economic environment suggest further progress will require additional policies to raise and stabilize incomes, offset the cost of essential expenses and protect families against adverse financial shocks," the study said.
The Washington D.C.-based think tank surveyed more than 7,500 adults over the last several years about whether they had difficulties paying for housing, utilities, food or health care.
The difficulties encountered by households were related to stagnating personal incomes, the think tank said. "It is also important to consider the cost of major expenses such as housing, utilities, child care, transportation and health care" on household budgets, it noted.
About 20% of households had food insecurity and medical expense challenges over the last year.
Almost 33% of households that earned at least twice the federal poverty level (annual income of $50,200 for a family of four) warned they struggled with affording basic items. Households complained that medical and food costs were the most significant strains on their wallets. About 14% of households said they struggled with medical bills or couldn't afford health insurance because of the surging cost.
The study said, families, earning less than twice the federal poverty level (annual income of $50,100 for a family of four) are enduring the most financial hardships today. Nearly 60% of those surveyed said they could hardly pay their bills, with 53% reporting more than half their income was spent on housing expenses.
So while the "greatest economy ever" could be true for the top 10% of households that own a majority of the financial assets, a large swath of households with limited to no assets have been left behind and are currently struggling to survive.
Since 2015, dozens of Navy F-18 fighter jets have encountered Unidentified Aerial Phenomenon (UAPs) - once commonly referred to as UFOs - off the East Coast of the United States, some not far from the nation’s capital. Encounters have been reported by other military aircraft and civilian airliners elsewhere in the U.S. and abroad, too, including videos shot by airline passengers.
What these UAPs were and who was flying them - whether friends, foes or unknown forces - remains a mystery. Yet careful examination of the data inevitably leads to one possible, disturbing conclusion: A potential adversary of the United States has mastered technologies we do not yet understand, to achieve capabilities we cannot yet match.
It is long past time for Congress to discover the answers to those questions, and to share at least some of its conclusions with the public.
The U.S. government came a large step closer to confirming the reality of UAPs when the U.S. Navy acknowledged in late April that:
But first, members of Congress and the public need to become familiar with the facts.
Unfortunately, it is impossible to gauge the overall level of UAP activity, since military personnel rarely report their encounters for fear of damage to their careers. Even when reports are filed, the information generally is ignored because nobody “owns” the UAP issue, and the various commands and agencies involved have not shared information on UAPs.
It remains to be seen whether the Navy’s new UAP reporting process will be emulated throughout our massive, almost feudal security apparatus in which the barons sometimes spend more time protecting bureaucratic turf from rivals than protecting U.S. territory from adversaries. Thus, any genuine solution to the UAP issue must address the issue of interagency coordination and collaboration.
The good news is that America already possesses vast sensor networks, ranging from the depths of the oceans to the harsh bleakness of space, capable of collecting the requisite information. All that Congress need do at this juncture is to require the Secretary of Defense and the Director of National Intelligence to review the UAP issue and deliver a report providing a comprehensive assessment. This report should include not only an estimate of the situation but a description of the structure and processes required to ensure effective collection and analysis going forward.
The Trump administration should be free to provide the report at whatever level of classification it deems appropriate. One entity with which I am involved — To the Stars Academy (TTSA), an organization of former U.S. intelligence and national security experts analyzing the UAP phenomenon — has placed notional legislative language on its website to facilitate this discussion. While some modest manpower costs might be incurred, the TTSA proposal does not require new Defense Department funding. It also averts the spectacle of public hearings and the attendant risk of injecting partisanship or grandstanding into the process.
Why should Congress act? In the first instance because it is Congress’s job to raise, organize and fund the military. It can hardly do so without being fully aware of the threats we face. Indeed, that is why we have a law requiring written notice to Congress of serious intelligence failures. Most Americans would no doubt agree that our inability to identify scores of mysterious aircraft repeatedly violating restricted U.S. military airspace in recent years is a shocking failure. But there is no need to wrangle over compliance with intelligence oversight laws. The Navy’s recent admissions regarding UAP intrusions provide more than adequate grounds for requiring a written report to Congress.
Perhaps we’ll learn that Russian President Vladimir Putin was not idly boasting when he bragged, more than a decade ago, that Russia’s “newest technical systems will be capable of destroying targets at an intercontinental distance with hypersonic speed and extreme maneuverability.” While it seems unlikely that Russia — or China — has pulled that far ahead of the U.S., there is no reason to leave this to chance. And while the Navy’s announcement seems to eliminate the prospect that these vehicles are secret U.S. military aircraft, perhaps we’ll find that Elon Musk has some amazing new toys.
It is not just that the UAPs which military pilots are encountering are strange — no paint, rivets, wings, antenna, safety lights, transponders or exhaust — they sometimes are so fast and maneuverable that they defy our understanding of physics. For example, some of these vehicles appear to withstand forces of acceleration far greater than maximum design limits of any man-made aircraft. No wonder some military witnesses — often, pilots who are scientists or engineers themselves — actually lean towards the hypothesis that they are not from this world. Like all good scientists, these pilots recognize that our theories must adjust to facts and new information, however daunting, not the other way around.
If our best minds were brought to bear to study the technology confronting us, much as the Japanese did in the 1850s when confronted by Admiral Perry’s fleet, then unprecedented technological breakthroughs could occur in short order. For example, the fact that these craft do not seem to produce exhaust, yet fly vast distances at immense speeds, could provide technical solutions to our energy crisis.
Some of America’s finest aviators and air defense personnel are trying to get our attention. They are not panicked — but they are right to be concerned. It seems clear the facts demand further action. In light of the facts, a mere report requirement seems a very modest response to potentially disturbing new national security information.
If UAPs turn out to be toys of Elon Musk’s making, we’ll all breathe a sigh of relief. If they are Russian, we’ll be glad we took action now rather than kicking the can down the road. If we learn that someone else’s more advanced version of our Voyager spacecraft has reached Earth, then this humble measure will forever transform our understanding of the universe and man’s place within it.
By any measure, the effort required to prepare a report for Congress seems to be a bargain.
* * *
Christopher Mellon served 20 years in the federal government and was deputy assistant Defense secretary for intelligence from 1999 to 2002, and for security and information operations from 1998 to 1999. From 2002 to 2004, he was minority staff director of the Senate Select Committee on Intelligence under Sen. John Rockefeller IV (D-W.Va.). He is a national security affairs adviser for To the Stars Academy of Arts and Science and a consultant to HISTORY’s nonfiction series, “Unidentified: Inside America’s UFO Investigation,” which premieres May 31.
With the entire US agriculture sector facing a 1980s style farm crisis downturn and record debt levels, demand for new tractors is set to collapse as farmers hang on to old Deere & Co. equipment, reported Bloomberg.
Heavy flooding in the last several months across the Midwest, a deepening trade war with China, depressed commodity prices, skyrocketing fuel costs, declining land values, and massive debt loads have squeezed farmers so much that Deere slashed production last week to deal with the downturn.
Deere executives on an earnings call last week warned that shipments of its tractors would decline by 20% YoY in 2H19.
"Until there's some kind of stability on crop prices or a resolution on the trade front, farmers will continue to repair equipment as best they can or go to used markets," said Chris Ciolino, an analyst at Bloomberg Intelligence. "When we do get stability, the replacement cycle will kick back into gear."
Bruce Clark, a senior vice president at Moody's Investors Service, said the farm crisis had shifted Deere's credit rating to negative.
"Deere's plans to reduce production in its core Ag business to levels below retail sales, which will strain sales but also control the field inventory, are characteristic of the company's approach to contend with operating stress and cyclical downturns," Clark said.
Executives told investors fundamentals will deteriorate in 2H19.
There could be widespread pain across the Midwest in 2H19. Over $76 billion of corn and soybeans are in storage, according to the Farm Bureau, as China slashes imports of grains from North America amid a deepening trade war.
Josh Jepsen, director of investor relations for Deere, said it's too early "to say we've seen permanent shifts in production or market share globally" due to the trade disputes.
Matt Arnold, an analyst at Edward Jones & Co., said, farmers, replace tractors in cycles. Following three years of declines, Deere's revenue growth turned positive in 2017. Arnold indicated the industry still has room to grow, which could last into the early 2020s.
"Investors are overly focused on the near-term downturn in the agriculture economy, while not appropriately pricing in Deere's long-term growth opportunities," Arnold said in a note Friday.
If trade disputes continue to escalate and no resolution is seen by 2H19, the replacement cycle for farmers could be several years out, likely to send Deere's equity to the $100-80 range.
Forget years of perfect grades and diligent study, often at the expense of a personality. Computer-science majors at Northeastern University face perhaps the most difficult test they've ever encountered; improv class.
Yes, in order to receive their diploma, Northeastern is forcing these natural introverts to come out of their shells and sperg out in front of a room full of classmates, according to the Wall Street Journal.
"We saw a lot of hysterics and crying," when the class was made mandatory in 2016, said Carla E. Brodley - dean of the Khoury College of Computer Sciences.
The university says the class is one way to "robot-proof" computer-science majors in order to help them beef up their underdeveloped adulting skills, according to university president Joseph E. Aoun, who believes that empathy, creativity and teamwork will help students develop a competitive advantage over machines in an era of artificial intelligence.
"I put it off to the end," said recent computer science and mathematics graduate Colin Mullaney, describing the unique hell of being dropped into a lion's den of emotions.
As part of the dreaded class, he mimicked elephant noises, imitated Michael Jackson dance moves and had to grunt in front of classmates while playing the role of a Viking rowing a boat.
Like all computer-science majors at Northeastern, Mr. Mullaney was required to take a course in theater and improv. And, like others, “I was afraid,” he said. He fought off anxiety by trying not to think about it outside of class. -WSJ
The class forces the bona-fide computer nerds to bring out, or at least emulate, their inner alpha - overcoming crippling fears of interacting with other humans, face-to-face, in front of a bunch of other people. The course requires public speaking, lecturing on nontechnical topics, and speaking gibberish such as "butuga dubuka manala phuthusa," according to the WSJ's Sara Castellanos.
Zach Lowen postponed it until his senior year. On his first day, he had to pretend he was ice skating and walking on hot sand. “I was like, ‘Oh, my God, where is this going?’” he said.
Mr. Lowen didn’t get stage fright while miming a scene of betrayal between warring drug cartels. But he turned stiff during a mock interview in front of a video camera. “I wasn’t sure where to look,” he said. The professor asked him “who was holding me hostage,” Mr. Lowen recalled. -WSJ
"I don’t know what’ll happen, what I’ll say, or how people will react," said junior CS major Caitlin Wang, who says she likes to plan and prepare - making improv quite scary.
Wang has found herself playing Sima in a 30-second version of "The Lion King," and singing a portion of a TED Talk given by "Eat, Pray, Love" author Elizabeth Gilbert.
"I had no idea what tune I should have been singing," said Wang.
Human Rube Goldberg Machine
The students were at one point forced to make a human cringe-ipede, assembling themselves into a human Rube Goldberg Machine in which "The touch of an arm would set another person’s leg in motion, and the leg would initiate the movement of someone pretending to turn a wheel."
"I couldn’t figure out how this was going to relate to what I was going to be doing full-time," said Tiffany Seeber, a 2016 grad who now works for Uber - and says she sometimes strikes a "power pose" before presentations using skills she learned in the class.
"I don’t know any software engineer that doesn’t have to do presentations," she said.
Dani Calacci, who took the class in 2016, is co-founder of workplace technology startup Riff Learning Inc. He said the absurdity of the class helped students learn to bond. One assignment required him to help a classmate stretch to stand up straight. “I really enjoyed it, actually,” he said.
Other professionals agree that improv can teach the teamwork and communication required of working with others. Many software applications now are built in small teams, a collaboration of engineers, writers and designers. -WSJ
Over 800 Northwestern CS majors have taken the class, which also involves awkwardly staring into a classmate's eyes for 60 seconds unless someone laughs first. Another activity requires students to tell a joke.
"The stereotype is that we can’t talk to people and we’re nerds and wear hoodies," said Catherine McLean who was initially skeptical about the course, only to find that she learned to better use her voice's volume and pitch, as well as the ability to hold casual conversations with people on topics which she was not an expert.
Who knows, maybe one of them will end up on TV:
Whole Foods, Barnes and Noble, Gamestop, Bed Bath and Beyond, Caribou Coffee, Jamba Juice, and Crate and Barrel all have something in common: they will start taking Bitcoin, Bitcoin Cash, Ethereum, and Gemini Dollars. This is possible by a revolutionary payment network called Flexa, built using cryptocurrencies, which allows mainstream consumers to spend their digital assets at brick and mortar stores across the US.
According to The Verge, consumers pay for items using Flexa's app, Spedn, which generates a QR code that consumers scan at the checkout register. Upon the scan, the merchant receives instant payment in dollars, and the equivalent amount of cryptocurrency is debited from the consumer's cryptocurrency wallet.
Flexa mentioned on its website that it believes the existing payments infrastructure, established five decades ago, is completely broken. Cash alternatives, like credit and debit cards, are insanely costly per transaction for merchants and are prone to cyber attacks.
Instead of "bolting cryptocurrency payments on top of debit cards," the payment processor company said it took a new approach: built out thousands of new connections with tens of thousands of merchant point-of-sale terminals nationwide in 2018, to bypass the existing payments infrastructure and allow cryptocurrency-based payment authorizations directly to merchants.
The new payment authorizations are called "flexcodes," and starting last week, consumers can now use Spedn at major retail stores across the country.
With the world of payments is evolving, Flexa could be part of a massive shift towards cryptocurrency point-of-sale terminals at major retailers.
Meanwhile, as of Sunday morning, Bitcoin was up 10%, tagging 8,137 at 6:45 am. Since the December 2018 low of 3,157, the non-fiat currency has moved up 159% in 152 days, but still well off its ATHs of 20,000 in December 2017.
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What happened in 1984 Major News Stories include Indria Ghandi assassinated, DNA profiling developed, Virgin Atlantic Starts Operations, Grand Hotel Brighton Bombing, Union Carbide Pesticide plant in Bhopal India leaks lethal gas, McDonalds Restaurant Shooting Leaves 20 dead. The Aids Virus is identified it is not the worldwide problem it is today. Following on from the PC Apple releases the Macintosh computer. Following the Widespread Famine in Ethiopia many of the top British and Irish USSR pop musicians join together under the Name Band Aid and record the song “Do They Know It’s Christmas”. Following the boycott by the US of the Moscow Olympics the soviet block boycotts the Los Angeles Olympic games. Recession continues to be a problem in the US and 70 US Banks fail in just one year.
The Human Genome Project was a 15-year-long, publicly funded project initiated in 1990 with the objective of determining the DNA sequence of the entire euchromatic human genome within 15 years. In May 1985, Robert Sinsheimer organized a workshop to discuss sequencing the human genome, but for a number of reasons the NIH was uninterested in pursuing the proposal. The following March, the Santa Fe Workshop was organized by Charles DeLisi and David Smith of theDepartment of Energy’s Office of Health and Environmental Research (OHER). At the same time Renato Dulbecco proposed whole genome sequencing in an essay in Science. James Watson followed two months later with a workshop held at the Cold Spring Harbor Laboratory. In 1990, the two major funding agencies, DOE and NIH, developed a memorandum of understanding in order to coordinate plans and set the clock for the initiation of the Project to 1990. At that time, David Galas was Director of the renamed “Office of Biological and Environmental Research” in the U.S. Department of Energy’s Office of Science and James Watson headed the NIH Genome Program. In 1993, Aristides Patrinos succeeded Galas and Francis Collins succeeded James Watson, assuming the role of overall Project Head as Director of the U.S. National Institutes of Health (NIH) National Center for Human Genome Research (which would later become the National Human Genome Research Institute). A working draft of the genome was announced in 2000 and the papers describing it were published in February 2001. A more complete draft was published in 2003, and genome “finishing” work continued for more than a decade.
Dr Watson’s remarks “in full”. Dr Watson told The Sunday Times that he was “inherently gloomy about the prospect of Africa” because “all our social policies are based on the fact that their intelligence is the same as ours – whereas all the testing says not really”. He said there was a natural desire that all human beings should be equal but “people who have to deal with black employees find this not true”. …
At a conference in 2000, Watson suggested a link between skin color and sex drive, hypothesizing that dark-skinned people have stronger libidos. His lecture argued that extracts of melanin – which gives skin its color – had been found to boost subjects’ sex drive. “That’s why you have Latin lovers,” he said, according to people who attended the lecture. “You’ve never heard of an English lover. Only an English Patient.” He has also said that stereotypes associated with racial and ethnic groups have a genetic basis: Jews being intelligent, Chinese being intelligent but not creative because of selection for conformity, and Indians being servile.
In United States law, the Bradley Amendment 1986, Public law 99-509 42 U.S.C. § 666(a)(9)(c). Requirement of statutorily prescribed procedures to improve effectiveness of child support enforcement. Bill Bradley requires state courts to prohibit retroactive reduction of child support obligations. Specifically, it:
- automatically triggers a non-expiring lien whenever child support becomes past-due.
- overrides any state’s statute of limitations.
- disallows any judicial discretion, even from bankruptcy judges.
- requires that the payment amounts be maintained without regard for the physical capability of the person owing child support (the obligor) to promptly document changed circumstances or regard for his awareness of the need to make the notification.But, like any other past-due debt, the obligee may forgive what is owed to them.When past-due child support is owed to a state as a result of welfare paid out, the state is free to forgive some or all of it under what’s known as an “offer in compromise”. The state and government agencies are non-profit organizations. … Bobby Sherrill, a Lockheed employee in Kuwait from North Carolina, was captured by Iraqis and spent nearly five months as an Iraqi hostage. Sherrill was arrested the night after his release for not paying $1,425 in child support while he was a hostage.
Consequences for Non-Payment of Child Support: Because child support is essentially a court order, a non-custodial parent who is not making these payments will be found in contempt of court. They are informed of the contempt charge in writing and ordered to appear in court. If the parent does not appear, a bench warrant for their arrest will be issued. Even if the parent does appear, they may still be sent to jail if they cannot provide adequate proof that they could not make the child support payments, rather than simply being unwilling to do so.
In the late 1990s, Andre Chreky already was a star hairstylist with his own salon. But he reached new heights after he was profiled in Washingtonian magazine and it became known that his clients included first lady Laura Bush. Soon after, Chreky said, a former receptionist began showing up at his shop on K Street NW, demanding money.“You have a child,” the woman, Adele Doudaklian, 43, of Gaithersburg, told him — a teenage son he had never met. He ordered her out. Doudaklian did not return phone calls to her home. Chreky said he dated her several times in the early 1980s but stopped long before Doudaklian’s son, Andrew Lucas, was born in March 1986. When the paternity action was brought in early 2003, Chreky said, he thought the DNA test would end the whole episode. Instead, Chreky was ordered to pay $1,715 a month in child support, plus health insurance premiums, after LabCorp’s report said he was the father. By the time Lucas turned 18, Chreky had paid $25,000. (Even after he won the case, Virginia law did not allow him to get the money back.) Chreky pleaded his case to the Virginia Division of Child Support Enforcement and then in an appeal to Fairfax Juvenile and Domestic Relations Court. But LabCorp’s “99.99 percent” finding was too tough to overcome. In fact, under Virginia law, 98 percent is automatic proof of paternity. This spring, his case landed in Fairfax County Circuit Court in a full-blown trial. Douglas S. Levy, one of Chreky’s attorneys, said Chreky offered to take another DNA test before his trial. But the state rejected the offer, he said. So Chreky’s attorneys hammered LabCorp’s experts, mostly about what the lawyers saw as two errors on the lab report. The director of LabCorp’s DNA identification testing division, Gary M. Stuhlmiller, said in a sworn report that he had arrived at his conclusions after comparing Chreky’s DNA with a database of the Moroccan population. Chreky is a native of Morocco. But at trial, Stuhlmiller acknowledged that LabCorp did not have a Moroccan database. Chreky is no scientist. He said he just knew that this was something he needed to fight. Most people don’t have the means to contest a “99.99 percent” finding. His wife, Serena, said the couple spent more than $200,000 to fight the case.
The connection between these 2 events
The National DNA Index (NDIS) contains over 13,674,427 offender1 profiles, 3,435,350 arrestee profiles and 915,052 forensic profiles as of January 2019. Ultimately, the success of the CODIS program will be measured by the crimes it helps to solve. CODIS’s primary metric, the “Investigation Aided,” tracks the number of criminal investigations where CODIS has added value to the investigative process. As of January 2019, CODIS has produced over 451,781 hits assisting in more than 440,381 investigations.
“The science-fiction future, in which police can swiftly identify robbers and murderers from discarded soda cans and cigarette butts, has arrived. In 2017, President Trump signed into law the Rapid DNA Act, which, starting this year, will enable approved police booking stations in several states to connect their Rapid DNA machines to Codis, the national DNA database. Genetic fingerprinting is set to become as routine as the old-fashioned kind.”
“As police agencies build out their local DNA databases, they are collecting DNA not only from people who have been charged with major crimes but also, increasingly, from people who are merely deemed suspicious, permanently linking their genetic identities to criminal databases.”
Global Conspiracy (Business Plan) to enslave you via your DNA
- Accused by a stranger of being the father of a child that’s not yours .. OR
- Being randomly accused of a crime that you didn’t commit.. OR
- A political ‘soft’ assassination such as was tried with Julian Assange and Brett Kavanaugh
If rioters take to the streets of London following a hard Brexit, a Cold War plan to evacuate the royals to an undisclosed location in the countryside would be immediately implemented. The Queen and other senior royals will be evacuated from London in the event of riots triggered by a no-deal Brexit, under secret plans being drawn up by Whitehall. Emergency proposals to rescue the royal family during the Cold War have been "repurposed" in recent weeks, as the risk continues to rise of the UK crashing out of the EU without a deal before next month’s deadline.
A senior Justice Department official said that Mr. Mueller would not recommend new indictments.
In an apparent endorsement of an investigation that Mr. Trump has relentlessly attacked as a “witch hunt,” Mr. Barr said Justice Department officials never had to intervene to keep Mr. Mueller from taking an inappropriate or unwarranted step.
It will be a reckoning for President Trump, to be sure, but also for Robert S. Mueller III, the special counsel, for Congress, for Democrats, for Republicans, for the news media and, yes, for the system as a whole…
I wasn’t saying [the Steele report] was true, only that I wanted him to know both that it had been reported and that the reports were in many hands. I said media like CNN had them and were looking for a news hook. I said it was important that we not give them the excuse to write that the FBI has the material or [redacted] and that we were keeping it very close-hold [sic].
According to Christopher Steele, a former British intelligence officer who is reportedly held in high regard by U.S. Intelligence, Russian sources tell him that Page has also had a secret meeting with Igor Sechin (SEH-CHIN), CEO of Russian gas giant Rosneft… Page is offered brokerage fees by Sechin on a deal involving a 19 percent share of the company.
The dossier compiled by former British intelligence officer Christopher Steele and which was leaked publicly several months ago contains information that may be pertinent to our investigation. This is true regardless of whether it was ever intended for public dissemination. Accordingly, the Committee hopes to speak with Mr. Steele in order to help substantiate or refute each of the allegations contained in the dossier.
Isikoff: When you actually get into the details of the Steele dossier, the specific allegations, you know, we have not seen the evidence to support them. And in fact there is good grounds to think some of the more sensational allegations will never be proven, and are likely false.Ziegler: That’s...Isikoff: I think it’s a mixed record at best at this point, things could change, Mueller may yet produce evidence that changes this calculation. But based on the public record at this point I have to say that most of the specific allegations have not been borne out.Ziegler: That’s interesting to hear you say that, Michael because as I’m sure you know, your book was kind of used to validate the pee tape, for lack of a better term.Isikoff: Yeah. I think we had some evidence in there of an event that may have inspired the pee tape and that was the visit that Trump made with a number of characters who later showed up in Moscow, specifically Emin Agalarov and Rob Goldstone to this raunchy Las Vegas nightclub where one of the regular acts was a skit called “Hot For Teacher” in which dancers posing as college Co-Ed’s urinated – or simulated urinating on their professor. Which struck me as an odd coincidence at best. I think, you know, it is not implausible that event may have inspired...Ziegler: An urban legend?Isikoff: ...allegations that appeared in the Steele dossier.
So Democrats getting overeager, overenthusiastic, stating things that may not be [unintelligible] true…? Well, tell me a political issue where that doesn’t happen. I think that’s looking at the wrong end of the telescope.
Feel free to police the Trump opposition. But on the list of shit that needs to be covered these days, that's just not high on my personal list.
Washington Post, December 31, 2016.Washington Post, Jan. 2, 2017.
“This is pretty typical for them, to hop on breaking news like this,” said Jonathon Morgan, chief executive of New Knowledge, a company that tracks online disinformation campaigns. “The bots focus on anything that is divisive for Americans. Almost systematically.”
We orchestrated an elaborate ‘false flag’ operation that planted the idea that the Moore campaign was amplified on social media by a Russian botnet…
The Guardian has strict and rigorous procedures when dealing with source material.
Indeed, it seems slightly insane to contemplate the possibility that a secret relationship between Trump and Russia dates back this far. But it can’t be dismissed completely.
The San Francisco-based company submitted its research to the U.S. Securities and Exchange Commission with an application to launch a bitcoin-based exchange-traded fund. The study, made public Thursday, is an attempt to alleviate the agency’s longstanding concerns that a bitcoin ETF would leave investors exposed to fraud and market manipulation.Bitwise’s fund, if approved, would be based upon the 5% of trading it considers legitimate, said Matthew Hougan, Bitwise’s head of global research. That volume comes from 10 regulated exchanges that can verify that their trading data and customers are real. This slice of the market, he said, is well regulated, transparent and efficient."I hope everyone sees there is a real market for bitcoin," he said.
Bitwise created a program to collect and analyze trading data across 81 exchanges, looking for patterns that exemplified both real and artificial trading. It concluded that 71 of the 81—or 95% of reported volume—are questionable, with patterns that indicated the trading on them appears manufactured.Of the roughly $6 billion in reported daily volume during four days in March, the firm calculated that about $273 million was legitimate.On regulated exchanges such as Coinbase, Gemini, BitFlyer and Poloniex, trading followed certain patterns, according to the Bitwise report. Trading volume, for example, rose and fell at predictable times coinciding with working and sleeping hours. Smaller trades were more frequent than larger ones, and many were in round numbers. All those patterns reflect how human traders think and act.By contrast, the dozens of unregulated exchanges that have cropped up over the past year show different trading patterns. Buy and sell orders appear in pairs, with one neutralizing the other. Trades are almost always executed within bid and ask prices, indicating a lack of the more haphazard decision-making one would expect from human traders. There are very few small or round-number trades. Volume is consistent across the trading day.The unregulated exchanges also show massive volume. Coinbase, the largest of the regulated exchanges, had average daily volume of around $27 million in the first week of March, when Bitwise collected its data. By comparison, CoinBene, a newer exchange that first appeared in October 2017, reported $480 million in daily volume over the same period. Yet CoinBene’s website attracts far less traffic than Coinbase, which is in 55,097th place by Amazon’s Alexa ranking service, compared with 1,500th for Coinbase.
For years New Zealand has been utilised by app developers, social media companies and software developers to test new technologies, but the risks and benefits for Kiwi consumers and businesses remain unclear. Ged Cann reports. If you want to test it, come to New Zealand. That's the mantra overseas, where New Zealand's advantages as a testing ground have been common knowledge in the international tech industry for decades, according to one world-wide developer.
There are a number of analogous facts shared by the attack on the North Korean embassy in Spain and the terror event in Christchurch which suggest that the same team was involved in both incidents. In both cases the perpetrators showed that they were well versed in "breach and clear" tactics against buildings filled with people. In both cases the buildings were cleared efficiently and quickly even though the goal of the North Korean incident was focused on intelligence gathering as opposed to mass murder. Aerial analysis of the North Korean embassy in Spain, the Al Noor Mosque and the Linwood Islamic Centre show that all buildings are of similar size and each would have required the same know-how and training to breach.
Earlier this year, the United Kingdom, Australia, Canada and New Zealand – which along with the United States are members of the “Five Eyes” alliance – came together to collectively attribute to Russia what may be the most costly cyber attack in history. This public affirmation provided a rare glimpse into the depth of defense cooperation among the world’s English-speaking democracies.Formalized in 1955, Five Eyes collaboration has proven a remarkable success both throughout the Cold War and in the post-9/11 era of counterterrorism. The informal alliance has until now remained rooted in intelligence sharing. However, in a world of complex and rapidly evolving security challenges, the Five Eye countries should consider a new area of shared focus: leveraging the commercial technology sector to address common national security concerns.
- This is the worst attack on peaceful Muslims in their own holy place
- New Zealand is the most anti-Gun jurisdiction in the world - it's impossible for a normal citizen to obtain and keep a firearm in this place
- New Zealand is the country with the most internet Censorship in the western world, beaten only by China and North Korea
- NZ is controlled by the Crown. Unlike other British Territories like the Bahamas for example, NZ never declared their 'independence' and the Queen is the Queen of New Zealand, visits there, and technically owns all the land.
- Property in New Zealand is mostly bought 'freehold' (update: should be "leasehold" but the point is that you don't really own it) in that you have a 99 year renewable lease and you never actually 'own' the land like you do in other places. That may seem like a simple technicality but the fact is there would never be a Rockefeller story in NZ if you discovered $100 Million worth of Gold on your land you can bet you would only get a pittance finders fee for it. God save the Queen.
Under the Crown Entities Act, Ministers are required to "oversee and manage" the Crown's interests in the Crown entities within their portfolio (sections 27 and 88). The board of the entity has the key role in ensuring the entity is achieving results within budget. This is done by a monitoring department on behalf of the Minister unless other arrangements for monitoring are made. Monitoring departments make explicit agreements with their Minister, setting out what monitoring they will undertake and how they will do it. Crown entity boards should also facilitate clear and transparent monitoring, for example, by providing the Minister and monitoring department with good information on which to make judgements about performance.
The Department of Internal Affairs maintains a hidden list of banned URLs and their internet addresses on a NetClean WhiteBox server, which as of 2009 contained over 7000 websites. The DIA then uses the Border Gateway Protocol to tell ISPs that they have the best connection to those internet addresses.When a user tries to access a website, the ISP will automatically send their data through the best connection possible. If the user is trying to access a website hosted at an internet address that the DIA claims to have the best connection to, the ISP will divert the traffic to the DIA.If the website the user is trying to access is on the DIA's list of banned URLs, then the connection is blocked by the WhiteBox server.The user instead sees a filter notice page and has the option of getting counselling or anonymously appealing the ban.If the website is not on the list of banned URLs, then the DIA transparently passes on the data to the actual website and the user is left unaware that the request was checked.
IN MEDICINE, trials are conducted on guinea pigs, rats, mice and rabbits. In digital businesses, tests are performed on New Zealanders. Their country is proving the perfect location for software firms, social networks and app developers discreetly to try out and refine their products. Take Microsoft, which last year made New Zealand its first test market for Sway, a new app that helps users create websites, and which has since been released into other markets. Other big technology firms, including Facebook and Yahoo, also use New Zealand as a development lab, as do games companies and small startups.
Not happy with the arrangement, Chicago HFT titan DRW Holdings wishes to be even "faster" than Jump and Vitru, and plans to move just a few yards closer to the exchange, having recently put an antenna on a light pole. Next to that is yet another light pole that has been rigged with antennas owned by McKay Brothers, an Oakland-based company. Meanwhile, on nearly all the roads in the area, trading companies have erected antennas or rented space on towers and poles, all of them littered with white circular dishes to try and get closer to the CME data center, all for the purpose of frontrunning slower traders, even if there are still no lasers to be seen, unlike what a visitor to the NYSE in Mahwah, NJ can observe.
Amid the legal fray, elected officials in Aurora find themselves confused, trying to figure out which projects should be approved and which projects should be rejected. It appears that the elected officials didn’t initially understand the weight of the decisions that they were making in approving and rejecting these towers. For instance, Alderman Bill Donnell described his technological know-how by saying: “I came from being a guy who didn’t know where the cloud was to realizing speed matters. I didn’t realize being a millisecond faster was all that important."
Back in March 2016, when it appeared that HFTs are starting to cannibalize one another, the CME sold its data center building for $131 million. The local government thought it had the issue squared away when it required CyrusOne to lease space to traders on its tower at "fair market rates". The intention was to “equalize wireless access to the CME.”
Sixty miles east of Wall Street, a spit of land shaped like a whale’s tail separates Long Island Sound and Conscience Bay. The mansions here, with their long, gated driveways and million-dollar views, are part of a hamlet called Old Field. Locals have another name for these moneyed lanes: the Renaissance Riviera.That’s because the area’s wealthiest residents, scientists all, work for the quantitative hedge fund Renaissance Technologies, based in nearby East Setauket. They are the creators and overseers of the Medallion Fund—perhaps the world’s greatest moneymaking machine. Medallion is open only to Renaissance’s roughly 300 employees, about 90 of whom are Ph.D.s, as well as a select few individuals with deep-rooted connections to the firm.
“They did study us,” said Simons as he spoke about his career in money management. “Of course, they didn’t find anything.”
While Simons refused to say how much Medallion has in assets, Bloomberg calculations put it at about $10 billion. Simons did say there is about $45 billion in the firm’s other funds, which are still open to outside investors, and generate far smaller returns than Medallion.. They employ longer-term trading strategies, so the funds haven’t delivered the same level of returns as Medallion.
"Now is the time for people to really understand this is not just something you can pass off and say 'it will be alright'," Mr Price said. "Politicians use the term ‘sub-optimal’ and what does that mean? It means high risk and less secure."
"We’re going to have to explain that to the public at some point, we may even have to explain that to victims and witnesses.""Somebody may be arrested for shoplifting here but back home they could have a serious conviction. There could be a reason why they are here."
“In a short timescale we’re not going to be able to get 27 agreements,” Mr Price said. "Bilaterals are a lot slower, a lot clunkier. ECRIS is a really important part of our business – turning that off is going to have a significant impact on our ability to make this country safer and to make European countries safer as well."
If the UK leaves the EU without a deal on 29 March, export licences for millions of tonnes of waste will become invalid overnight. Environment Agency (EA) officials said leaking stockpiles could cause pollution.The EA is also concerned that if farmers cannot export beef and lamb, a backlog of livestock on farms could cause liquid manure stores to overflow. A senior MP said the problems could cause a public health and environmental pollution emergency. An EA source said: “It could all get very ugly, very quickly."The emails leaked to the Guardian were sent to EA staff, asking for 42 volunteers to staff crisis management centres that would deal with incidents. On Tuesday the chief executive of the civil service revealed plans to move up to 5,000 staff into an emergency command and control centre in the event of no deal.
"No deal would be a green light to criminal fraudsters and create a public health and environmental pollution emergency. EA officials should not carry the can for the failings of government to get a deal through and this shows how hollow the prime minister’s promises were about protecting the environment if we leave the EU."
The Queen and other senior royals will be evacuated from London in the event of riots triggered by a no-deal Brexit, under secret plans being drawn up by Whitehall.Emergency proposals to rescue the royal family during the Cold War have been "repurposed" in recent weeks, as the risk continues to rise of the UK crashing out of the EU without a deal before next month’s deadline.
"It seems to me we have got to guard against two things. One is an irrational pessimism that says that everything will be a catastrophe and irrational optimism which says everything will be okay.
“Juan Guaidó is a character that has been created for this circumstance,” Marco Teruggi, an Argentinian sociologist and leading chronicler of Venezuelan politics, told The Grayzone. “It’s the logic of a laboratory – Guaidó is like a mixture of several elements that create a character who, in all honesty, oscillates between laughable and worrying.”
“‘These radical leaders have no more than 20 percent in opinion polls,” wrote Luis Vicente León, Venezuela’s leading pollster. According to León, Guaidó’s party remains isolated because the majority of the population “does not want war. ‘What they want is a solution.’”
Targeting the “troika of tyranny”
Training from the “‘export-a-revolution’ group that sowed the seeds for a NUMBER of color revolutions”
Birthing the “Generation 2007” regime change cadre
“Galvanizing public unrest…to take advantage of the situation and spin it against Chavez”
“This could be the watershed event, as there is little that Chavez can do to protect the poor from the failure of that system,” the Stratfor internal memo declared. “This would likely have the impact of galvanizing public unrest in a way that no opposition group could ever hope to generate. At that point in time, an opposition group would be best served to take advantage of the situation and spin it against Chavez and towards their needs.”
Towards violent destabilization
.@NicolasMaduro, jamas me has hecho caso. Me has fustigado/perseguido como @chavezcandanga jamás osó. Óyeme, tienes sólo dos opciones en las próximas 24 horas:
1. Como Noriega: pagar pena por narcotráfico y luego a @IntlCrimCourt La Haya por DDHH.
2. O a la Gaddafi.
Update: Burelli contacted the Grayzone after the publication of this article to clarify his participation in the “Fiesta Mexicana” plot.Burelli called the meeting “a legitimate activity that took place in a hotel by a different name” in Mexico.Asked if OTPOR coordinated the meeting, he would only state that he “likes” the work of OTPOR/CANVAS and while not a funder of it, has “recommended activists from different countries to track them and participate in the activities they conduct in various countries.”Burelli added: “The Einstein Institute trained thousands openly in Venezuela. Gene Sharpe’s philosophy was widely studied and embraced. And this has probably kept the struggle from turning into a civil war.”
“I think it is time to gather efforts; make the necessary calls, and obtain financing to annihilate Maduro and the rest will fall apart,” Machado wrote in an email to former Venezuelan diplomat Diego Arria in 2014.
Guaidó heads to the barricades
Cracking down on Popular Will
Cordial reunión en la ONU con Elliott Abrams, enviado especial del gobierno de EEUU para Venezuela. Reiteramos que la prioridad para el gobierno interino que preside @jguaido es la asistencia humanitaria para millones de venezolanos que sufren de la falta de comida y medicinas.
A pawn in their game
“There is a class reasoning that explains Guaidó’s rise,” Sequera, the Venezuelan analyst, observed. “Mejía is high class, studied at one of the most expensive private universities in Venezuela, and could not be easily marketed to the public the way Guaidó could. For one, Guaidó has common mestizo features like most Venezuelans do, and seems like more like a man of the people. Also, he had not been overexposed in the media, so he could be built up into pretty much anything.”
“For the first time,” Brownfield, the former American ambassador to Venezuela, gushed to the New York Times, “you have an opposition leader who is clearly signaling to the armed forces and to law enforcement that he wants to keep them on the side of the angels and with the good guys.”
SummaryRevlon is controlled by a single insider for 30 years billionaire Ronald Perelman.Perelman has developed in his career a method of hostile takeovers that dates far before Revlon.Due to a rule, if he is able to get 90% of Revlon he'll get voting rights of all 100%.The float (available shares for purchase) is low 2.29 M, almost all of which are held short.Recently, Barna Capital purchased a 2% stake, putting the institutional control above 10.1%, making a Perelman takeover impossible.
Today is one of those days. Right off the open an algo starts selling 100 shares into the bid. The spread is 3%. If I place a bid higher than last sale, let's say 500 shares. It will sell me 500 shares. And will sell 100 shares at whatever bid is lower than last. This is just bluntly manipulation. It's just moving share price lower. It's only job.Take a look at lv2 for instance. There's at least a 5 to 1 ration ask to bid at all times. Strange for a stock that doesn't exist for sale.When Perelman buys stock, his 15k algo buys move the stock from 50 cents to a dollar. When 8 buy 15k shares. The stock usually goes down. So I'm working against a short. And he's not.About 2 million shares out the remaining float is in ETF. So that basically not tradable as they only rebalance their portfolios and do not trade actively. That lease roughly 500k shares tradable period. With 2.6 million already shorted. Magic i suppose 🙂
Today is one of those days. Right off the open an algo starts selling 100 shares into the bid. The spread is 3%. If I place a bid higher than last sale, let's say 500 shares. It will sell me 500 shares. And will sell 100 shares at whatever bid is lower than last. It's just moving share price lower. It's only job. And here's one more thing. When the algo buys stock, the 15k algo buys move the stock from 50 cents to a dollar. When I buy 15k shares, the stock usually goes down. So I'm working against a short.
GreenmailIn the late 1980s, Perelman was accused of engaging in greenmail. "Greenmail" occurs when someone buys a large block of a company's stock and threatens to take over the company unless he is paid a substantial premium over his purchase price. In the case of someone with a reputation as a corporate raider, the mere act of buying up shares could send a company into a panic and investors into a buying frenzy. Perelman insists he seriously intended to buy every corporation he bought into.He was first accused of greenmail in late 1986 during a run at CPC International when he bought 8.2% of CPC at around $75 a share and indirectly sold it back to CPC through Salomon Brothers a month later at $88.5 a share for a $40 million profit. Both CPC and Perelman denied it was greenmail despite appearances to the contrary, including what looked like an artificial price increase by Salomon shortly before they sold Perelman's shares.Another accusation of greenmailing levied against him was the best-known and stemmed from his attempt to purchase Gillette in November 1986. Perelman opened negotiations with a bid of $4.12 billion. Gillette responded with an unsuccessful lawsuit and public insinuations of insider trading. Perelman accumulated 13.8% of Gillette before he made what he would later call the worst decision he ever made and sold his stake to Gillette later that month for a $34 million profit. Gillette had put word out that Ralston Purina had agreed to buy a 20% block of stock, making any attempt by Perelman to buy Gillette much more difficult. Perelman decided to sell his share to Ralston Purina, but before he did so Gillette's executives called him up, asking if he'd sell his shares to them and they'd sell the shares to Ralston Purina. He sold his shares to Gillette and Ralston backed out of the deal.
PanavisionIn April 2001, M&F Worldwide bought Perelman's 83% stake in Panavision for $128 million. This would be unremarkable except that Perelman controlled M&F Worldwide and the price paid for his stake was four times market value. At the time, M&F Worldwide was a healthy company with an excellent balance sheet while Panavision was bleeding red ink. M&F Worldwide's other shareholders cried foul, alleging the only person who stood to benefit from the deal was Perelman and took their complaints to the courts. Perelman insisted the deal was an excellent one and in the best interest of the shareholders because Panavision was well-positioned to profit from the move to digital cinematography.The share price tumbled from six to three after the deal and reflected M&F Worldwide shareholders' lack of confidence. Perelman tried to pacify M&F Worldwide's shareholders with a $15 million settlement, but the judge rejected it as grossly inadequate. Ultimately, Perelman agreed to undo the deal.
Fred TeppermanPerelman hired Fred Tepperman as his CFO after Tepperman left Warner Communications in 1985. Starting with Pantry Pride, Tepperman worked on every single business deal Perelman orchestrated throughout Tepperman's seven-year stint at MacAndrews & Forbes. Tepperman's tenure came to an abrupt end just after Christmas in 1991 when Perelman fired him for being derelict in his duties. Tepperman had been distracted, he claimed, by caring for his Alzheimer's-afflicted wife of 30 years. A clause in Tepperman's contract entitled him to a large portion of his salary and benefits in the event of an injury that prevented him from being able to work; Tepperman claimed he had suffered such an injury, albeit psychologically, as a result of the effect his wife's condition had on him. His demands totaled $30 million. That number stems partially from Tepperman's salary, which started at $275,000 and rose to $1.2 million in 1990 and partially from his large benefits package. Perelman was quick to file a countersuit for fraud, claiming that Tepperman had sneakily changed the company's retirement plan in such a way that Tepperman would personally gain millions of dollars. It took over three years for the case to make it to court. The case ended with a sealed settlement.
- They understand value.
- They are looking for an edge.
- They are looking for that next disruptive technologies and companies.
- They value their time and they know that time is best spent with loved ones and enjoying the world’s treasures.
- They don’t need to look at quotes every minute because they purchased prior to the IPO.
- They have a vision of their financial future.
- They want to have control over their financial future.
- They recognize that finance is not a spectator sport.
- They (themselves, not through an LLC) get on the cap table.
Back in 1998, Mark Cuban and his partner Todd Wagner sold Broadcast.com, a giant multimedia company focused on streaming audio and video, to Yahoo! for $5.7 billion. At the time, Mark Cuban received 14.6 million shares of Yahoo trading at $95, thus his concentrated position had a market value of $1.4 billion. In order to protect the value of the 14.6 million stocks he decided to set up a costless Options Collar, which allowed him to protect his billions without paying any insurance premium. Probably because there was a lock-in period for him to sell the Yahoo share, or he used these Yahoo shares as collateral for a bank loan, or he didn’t want to miss the opportunity if Yahoo continued to rally, he chose to enter a collar to lock in his share value without selling the shares.
- Revlon is controlled by a single insider for 30 years billionaire Ronald Perelman.
- Perelman has developed in his career a method of hostile takeovers that dates far before Revlon.
- Due to a rule, if he is able to get 90% of Revlon he’ll get voting rights of all 100%.
- The float (available shares for purchase) is low 2.29 M, almost all of which are held short.
The Court declared that, in certain limited circumstances indicating that the ‘sale’ or ‘break up’ of the company is inevitable, the fiduciary obligation of the directors of a target corporation are narrowed significantly, the singular responsibility of the board being to maximize immediate stockholder value by securing the highest price available. The role of the board of directors transforms from ‘defenders of the corporate bastion to auctioneers charged with getting the best price for the stockholders at a sale of the company.’ Accordingly, the board’s actions are evaluated in a different frame of reference. In such a context, that conduct can not be judicially reviewed pursuant to the traditional business judgment rule, but instead will be scrutinized for reasonableness in relation to this discrete obligation.
Did you know that the CIA has its own Venture Fund? And did you know that Venture fund was key in starting Facebook and Google? As explained in the book Splitting Pennies – the world is not as it seems.
For many readers especially on Zero Hedge this comes as no surprise, as you are well aware of the octopus that wraps its tentacles around the globe. But it may surprise you how active In-Q-Tel is and how chummy they are with the rest of the VC community. It’s as if they are just another VC, but with another purpose. Let’s look at some of the stats, from Crunchbase:
Here’s a list of recent investments…
If you dig back you won’t see Google or Facebook on there – which is company policy for retail consumer investments that can impact the public (it’s kept secret behind an NDA). Here’s how it works – In-Q-Tel may invest in your startup but there’s a big catch. First, you have to sign an NDA which is enforced strongly – that you are not to disclose your partner. Second, you must agree to ‘cooperation’ when it comes to information sharing now or down the road, such as location data on people using Facebook, Google, or other systems – perhaps only to feed it into a big data brain at Palantir. Or perhaps for more street level surveillance. The surveillance is known by fact, not conspiracy theory – but by fact – due to the disclosure of classified documents by Edward Snowden. If it were not for Snowden, we could only guess about this. The name of the main program is PRISM but there are many others.
For those in the VC community that are deep in the know- the “Deep VCs” like Peter Thiel for example, the Snowden revelations would come as no surprise. MUST READ – No Place To Hide – the story of the NSA, PRISM, and Snowden (written by Greenwald).
But for others, it may come as a surprise that not only the CIA has its own VC fund, but that it sits on many corporate boards alongside many Wall St. firms and other VCs.
And of course, they always do well.
Let’s consider the doors they opened for Google, or in the case of Google it was more like the doors that were closed. Google was not the best search engine, it was not superior technology – it wasn’t even really very good. It just became a monopoly and crushed the competition. Many wonder how they were able to do it, and that this is part of the Entrepreneur “Magic” that few have. Well we can say in the case of Google there was no Magic they had a helping hand from a friend in the deep shadows. Google wanted to become huge – the CIA wants information (they always do, so we don’t use the past tense ‘wanted’). So it was a cozy and rational partnership – in exchange for making the right handshakes at the right time, allowing Google to become a global behemoth, all they needed to do was share a little information about users. Actually, a lot of information. No harm in that, right?
But in doing so Google violated itself as well as prostituted its model and its users. Google still does this and is not nearly as flagrant as its brother Facebook, however Google shares more detailed ‘meta data’ which is actually more useful to Echelon systems like Palantir that rely on big data, not necessarily photos of what you ate for breakfast (but that can be helpful too, they say).
The metaphor is making a deal with the devil; you get what you want but it comes at a price. And that’s the price users pay to Google – they get service ‘free’ but at a huge cost, their privacy. Of course – this is all based on the concept of Freedom which really does exist in USA. You don’t have to use Google – there are many alternatives like the rising star Duck Duck Go:
But who cares about privacy; only criminals, hackers, programmers, super wealthy (UHNWI) and a few philosophers.
Google remains the dominant search platform and much more. Google exploits niche by niche even competing with Amazon’s Alexa service.
The argument here is that Google wouldn’t be Google without the help of the CIA. This isn’t our idea it’s a fact, you can read about it here on qz.com:
Two decades ago, the US intelligence community worked closely with Silicon Valley in an effort to track citizens in cyberspace. And Google is at the heart of that origin story. Some of the research that led to Google’s ambitious creation was funded and coordinated by a research group established by the intelligence community to find ways to track individuals and groups online. The intelligence community hoped that the nation’s leading computer scientists could take non-classified information and user data, combine it with what would become known as the internet, and begin to create for-profit, commercial enterprises to suit the needs of both the intelligence community and the public. They hoped to direct the supercomputing revolution from the start in order to make sense of what millions of human beings did inside this digital information network. That collaboration has made a comprehensive public-private mass surveillance state possible today.
There you have it – Google is the child of the digital revolution of the surveillance state. Why spy, when you can collect data electronically and analyze with machine learning?
The new spy is the web bot.
And the investors in Google did well – so that’s the investing story that matters here. It pays well to have friends in high places, and in dark places. Of all the investments In-Q-Tel made, almost all of them have done very well. That doesn’t mean that Palantir is going to grow to the size of Google, but it does provide natural support should a company backed by In-Q-Tel run into problems.
By the time Facebook came out, digital surveillance was already in the n-th generation of evolution, and they really stepped up their game. In the creepiest examples, Facebook doesn’t necessarily (and primarily) collect data on Facebook users – it does this too. But that’s just a given – you don’t need to perform surveillance on someone who gives all their data to the system willingly – you always know where they are and what they are doing at any given moment. The trick is to get information about those who may try to hide their activities, whether they are real terrorists or just paranoid geniuses.
How does Facebook do this? There are literally hundreds of programs running – but in one creepy example, Facebook collects photos that users take to analyze the environment surrounding. Incidentally, the location data is MUCH MORE accurate than you see on the retail front end. So you get the newspaper and see a gift in your mailbox for your birthday – you take a photo because the ribbons are hanging out. What shows up in the background? All kinds of information. What the neighbor is doing. License plate of the car driving by. Trash waiting to be picked up by the street. A child’s toy left by the sidewalk. You get the picture. Facebook users have been turned into sneaky little digital spies! While they are walking around with their ‘smartphones’ (should be called ‘dumbphones’) scrolling their walls and snapping photos away – they are taking photos of you too. That means, Facebook collects data for the CIA about users who don’t have Facebook accounts. This is the huge secret that the mainstream media doesn’t want to tell you. Deleting your Facebook account will do nothing – every time you go out in public you are being photographed, video recorded, and more – all going into big data artificial intelligence for analysis.
But here’s the best part. You own it! The CIA may have a bad reputation but it is part of the US Government, and thus – profits go back to the Treasury (those which are declared) or at least they are supposed to. Considering this, why is there a stigma about even talking about In-Q-Tel when in fact we should be more involved in any US Government operation when it is technically owned by the people and funded by taxpayers? Meaning, do taxpayers have rights to know what goes in in taxpayer funded entities, like In-Q-Tel? The big difference between In-Q-Tel and the CIA is that In-Q-Tel functions just like any other VC – they disclose most of their investments, they attend conferences, they accept business plans. You can literally submit your idea to In-Q-Tel and get funding. Of course, like any VC there’s a very small chance of being funded.
So what’s an investor’s take on this story? In-Q-Tel is not Freddie Mac there is nor a quasi-government entity; it’s not an NGO and there is no implicit guarantee that In-Q-Tel’s deals will do any better than Andreessen Horowitz.
However, their deals do very well. Companies they fund not only have the backing of the CIA explicitly, it’s not only about business – it’s about national security! Under that guise, it’s no wonder that companies like Google and Facebook rocket to the top.
We are not suggesting that investors double down on In-Q-Tel bets. We are only suggesting that at a minimum, we follow what they do. It’s a data point – a good source of information. And the best part is that it’s public.
Their most recent investment is in a virtual reality company in Boca Raton, FL called Immersive Wisdom:
Immersive Wisdom® is an enterprise software platform that allows users to collaborate in real-time upon diverse data sets and applications within a temporal and geospatially-aware Virtual, Mixed, and Augmented Reality space. Immersive Wisdom is hardware-agnostic and runs on VR, AR, as well as 2D displays. Regardless of geographic location, multiple users can be together in a shared virtual workspace, standing on maps, with instant access to relevant information from any available source. Users can simultaneously, and in real time, visualize, fuse, and act upon sensor inputs, cyber/network data, IoT feeds, enterprise applications, telemetry, tagged assets, 3D Models, LiDAR, imagery and UAV footage/streaming video, providing an omniscient, collaborative view of complex environments. Immersive Wisdom also acts as a natural human interface to multi-dimensional data sets generated by AI and machine learning systems. The platform includes a powerful SDK (Software Developer Kit) that enables the creation of customer-specific workflows as well as rapid integration with existing data sources/applications.
Cool stuff for sure – but it’s in early stages. Pre IPO Swap suggests real Pre IPO ‘unicorns’ not because of size, but because of the right mix of risk and reward. https://preiposwap.com/pitch See why we think so in our pitch.
In any analysis, it’s worth watching In-Q-Tel, which is a top source of funding and investment data we watch on www.preiposwap.com Pre IPO Swap.
To get real-time updates on companies like this, companies that In-Q-Tel invests in - www.preiposwap.com/follow follow our blog free.
The New York-based investment firm’s Composite fund invests across multiple strategies and is the company’s largest and longest-running. It returned 3.5 percent last month, the person said, as the S&P 500 Index sunk 9.2 percent.
D.E. Shaw was founded by computer scientist David Shaw and has more than $50 billion in assets under management, including $28 billion in hedge funds. Its Composite fund has largely been closed to new investors since mid-2013, but the group continues to build out new strategies and products. Recent areas of development have included private credit opportunities in Europe and renewables investing.
The company founded by Peter Thiel, Elon Musk and Max Levchin has spawned three billionaires, many, many millionaires and generation-defining companies. Here, we break down the key players from the most notorious group in Silicon Valley.
On 13 March 1986, Microsoft went public at $21 a share. 100 shares would be worth $2100.Microsoft has since had 9 splits (Microsoft Stock Split History) for a total of 288x.Split adjusted IPO price would be 21/288 = $0.073. Your 100 shares would have become 28,800 shares.MSFT closed at $50.94 on 27 April 2016, which would make that $2100 investment worth $1,467,072, a 69860% return on investment. $2100 in 1986 would be approximately $4563 in 2016 so a 69860% ROI adjusts to 32154% after inflation.