Wednesday, May 28, 2014

With thieves and morons so-well represented, why leave out those of us who are overweight?

A Michigan State University study documents weight bias in U.S. elections.  Overweight candidates get fewer votes than do the svelte, and overweight women fare worse than men with the same profile.  This means the third of the population who are obese are underrepresented in office. (From an article in a paper picked up on a Toronto street on Monday)

Monday, May 19, 2014

Is it still possible for a Nigerian politician to be too trusting and naïve?

Interviewed on Al-Jazeera TV, a Nigerian senator expressed surprise that military could not cope with Boko Haram. After all, he said, the military are given $10 bn a year. Even if they siphoned off 75%, they should have enough resources to defeat the terrorists.

Why the precipitous drop in law school applications and attendance?

The unemployment rate for lawyers nine months after graduation was 11.2% in 2013, up from 9.2% in 2011. Boston College Law School applications dropped 40% in five years, and Boston University’s were down 50%. Enrollment at the top 200 law school is down 24% from 2010. This is a lot even taking into account lawyer unemployment. (Boston Globe, May 4, G5)

At what age do we acquire wisdom?

On page 5 of the Weekend FT one finds the obituary of Stephen Sutton (1994-2014) who achieved fame in the UK by dying gracefully and publically at age 19. His Facebook and Twitter campaign raised £2.6 mn. (For what? The article does not say.) He is quoted as telling a group of wealth managers: "I do not know how long I've got left to live, but one of the reasons for that is because I haven't asked. That's because I don't see the point of measuring life in terms of time any more. I would rather measure it in terms of what I've actually achieved." Michel de Montaigne wrote something similar at a fairly young age, in his thirties: “Wherever your life ends, it is all there. The advantage of living is not measured by length, but by use; some men have lived long, and lived little; attend to it while you are in it. It lies in your will, not in the number of years, for you to have lived enough.”

Is it fair to say there is a management problem at the VA?

According to the Weekend FT, p14, The Veterans Administration has 8.57 million vets enrolled, a budget that has grown from $73 bn in 2006 to $154 bn in 2014, and visits have doubled since 2000. Twenty-four patients died in Phoenix after being on a waiting list for up to a year. Doctors there shredded papers to obscure the facts. What’s going on at other VA facilities?

What’s the difference between a bond and a bond trader?

(Answer: “The bond eventually matures.”) This old joke came to mind when I read in the FT that Deutsche Bank doesn't want traders to use bad or indiscrete language. Colin Fen, co-head of investment banking wrote to employees that "some of you are falling way short of our established standards [sic]." . . . "Let's be clear; our reputation is everything. Being boastful, indiscrete and vulgar is not o.k. It will have serious consequences for your career. And I have lost patience on this issue."

Is the US more anticompetitive than France?

France economy minister Arnaud Montebourg, prompted by opposition to the acquisition of Alstom’s power business by GE, has issued a decree requiring state approval for most foreign acquisitions. (One can expect that approval will not be given in this case.) In response to criticism that such a restriction is anticompetitive, Montebourg pointed out that his decree is no broader than the rights of the Committee on Foreign Investment in the US. (This inter-agency committee was established in 1988 to prevent Japanese acquisitions of US companies if “there is credible evidence that leads the President to believe that the foreign interest exercising control might take action that threatens to impair the national security.” It frequently blocks transactions.)