maybe we’ll find some CEOs who are not jews

Markets in Free Fall, As the Trump Presidency Shatters Apart Government-Corporate Council
Dr Fly, Aug 17 2017

Trump had said he ended the economic council, chaired by the the CEO of Blackstone, Steve Schwarzman. Apparently, that was a lie, at least according to the NYT report out now, regarding the dissolution of the council. Post Charlottesville remarks, the President’s economic council was in full rebellion mode and it was agreed upon to disband it. After the President learned about this, he preempted their statement and tweeted out he has ended it.

On Wednesday morning, a dozen of the country’s most influential CEOs joined a conference call, and, after some debate, a consensus emerged: The policy forum would be disbanded, delivering a blow to a president who came into office boasting of his close ties with business leaders. With the collapse of the councils, the president has all but lost his most natural constituency, the corporate leaders who stood to benefit from his agenda of lower taxes and lighter regulation. Before they could make a statement announcing their decision, however, Trump spoke. He had caught wind of their planned defection and wanted to have the last word. Taking to Twitter, he wrote: “Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!” This account is based on interviews with more than a dozen people at the companies represented on the council or advising them.

There is an important point to make in all of this noise. If business leaders, right or wrong, are afraid to be associated with the President, due to his perceived unpopularity, then all of his economic plans that helped the market roar to record highs are doomed. Bill George, the former chief executive of the medical device maker Medtronic and a board member of Goldman Sachs, said:

There is continuing pressure on CEOs from customers, employees, shareholders and board members to take a position against what’s going on and separate themselves from president Trump’s councils. These executives cannot live with customers thinking they are in cahoots with someone who supports white supremacists or neo-Nazis.

Important distinction. Jeffrey Sonnenfeld, a professor of organizational behavior at the Yale School of Management:

In Pindosi history, we’ve never had business leaders decline national service when requested by the president. They’ve now turned their backs on him.

According to the NYT, here’s what really happened:

As the group disintegrated, Stephen Schwarzman, the CEO of the Blackstone Group, was kept in the loop. Schwarzman was one of Trump’s closest business confidants and the chairman of the policy forum, but he was also outraged by the president’s remarks. On Tuesday evening, he called Jared Kushner, the president’s son-in-law and a White House adviser, to inform him that the policy forum was falling apart. At the same time, Schwarzman began drafting a statement about disbanding the group. Efforts to schedule a conference call for the chief executives on Tuesday night were unsuccessful, so a call was set for 11:30 am on Wednesday. On Wednesday morning, Laurence Fink, chief executive of BlackRock, the world’s largest asset manager, called Nooyi, Rometty, Barra and Douglas McMillon, the chief executive of Walmart. Fink decided to step down after seeing the president’s remarks on Tuesday, and now encouraged other executives to join him. McMillon, who earlier in the week made public a stinging critique of the president, but had not stepped down from the advisory group, had changed his stance after Trump’s news conference on Tuesday, deciding to step down. As the call began, more than a dozen of the nation’s top business leaders dialed in from around the country. Fink was in Aspen, while Jamie Dimon, the chief executive of JP Morgan, was home in New York. Leading the discussion, Schwarzman gave each participant time to speak.

Two in the group, Jim McNerney of Boeing and Jack Welch of General Electric, proposed issuing a statement condemning the president, but keeping the group together. But most others, including Fink of BlackRock and Nooyi of Pepsi, leaned toward disbanding. Dimon was also furious and wanted off the council, but felt conflicted because of his role as chairman of the Business Roundtable, an industry group. Rometty of IBM, who had faced criticism from employees for her role in the group, advocated that the executives “condemn and disband.” That phrase soon drew broad backing. During the 40-minute phone call, Schwarzman did not press for continued allegiance to the president. He said that although he had had high hopes for the forum, something had to change in light of the president’s reaction to the violence in Charlottesville. The question, he added, was how to reach a consensus. As the policy forum was holding its call, other members of the manufacturing council, including Denise Morrison of Campbell Soup and Inge Thulin of 3M, announced they would step down. By the time the call was over, the group had agreed to disband. After the decision was final, Schwarzman called the White House to let Trump know. He was asked to include language that the president had agreed to disband it. Shortly thereafter, the president claimed on Twitter that he was disbanding the advisory groups. Companies swiftly disputed that notion. Johnson & Johnson said its chief executive, Alex Gorsky, was leaving the panel before the president’s tweet.

The perception for Trump is that of a president isolated, without any real power. He is all but a ceremonial figure now, rejected by people inside his administration, business community, intelligence community and in Congress. The fact that the NASDAQ is only down 50 (50 basis points, half a percent – RB) is a testament to how well-controlled the markets are. As the executive branch of government faces a daily barrage of controversy, coupled with a very active investigation into Trump’s dealings with Russians, I’d be amazed if the market could make it past Labor Day in one piece.

Cloudflare CEO Terminates Neo-Nazi Site After ‘Waking Up in a Bad Mood’
Dr Fly, iBankCoin, Aug 17 2017

The CEO of Cloudfare, Mathew Prince, had enough of the Daily Stormer, a neo-nazi site dedicated to fomenting strife amongst races. In an email sent to employees, Prince described his actions as ‘arbitrary’, saying ‘literally, I woke up in a bad mood and decided someone shouldn’t be allowed on the Internet. No one should have that power.’ Here is the full email.

Earlier today Cloudflare terminated the account of the Daily Stormer. We’ve stopped proxying their traffic and stopped answering DNS requests for their sites. We’ve taken measures to ensure that they cannot sign up for Cloudflare’s services again. This was my decision. Our terms of service reserve the right for us to terminate users of our network at our sole discretion. My rationale for making this decision was simple: the people behind the Daily Stormer are assholes and I’d had enough. Let me be clear: this was an arbitrary decision. It was different than what I’d talked talked with our senior team about yesterday. I woke up this morning in a bad mood and decided to kick them off the Internet. I called our legal team and told them what we were going to do. I called our Trust & Safety team and had them stop the service. It was a decision I could make because I’m the CEO of a major Internet infrastructure company. Having made that decision we now need to talk about why it is so dangerous. I’ll be posting something on our blog later today. Literally, I woke up in a bad mood and decided someone shouldn’t be allowed on the Internet. No one should have that power. (Cloudflare employee’s name redacted) asked after I told him what we were going to do: “Is this the day the Internet dies?” He was half joking, but I actually think it’s an important question. It’s important that what we did today not set a precedent. The right answer is for us to be consistently content neutral. But we need to have a conversation about who and how the content online is controlled. We couldn’t have that conversation while the Daily Stormer site was using us. Now, hopefully, we can. I’ll be publishing a blog post with all our thoughts on this issue in a few hours. Until then, I’d ask that you not talk about this externally. Matthew Prince, Co-founder & CEO

In a blog post describing his decision, Prince openly admits that being judge and jury of what is acceptable content is almost an impossible task, saying that without his companies protection, hackers could easily take down sites they disagree with.

The size and scale of the attacks that can now easily be launched online make it such that if you don’t have a network like Cloudflare in front of your content, and you upset anyone, you will be knocked offline. In fact, in the case of the Daily Stormer, the initial requests we received to terminate their service came from hackers who literally said: “Get out of the way so we can DDoS this site off the Internet.” You, like me, may believe that the Daily Stormer’s site is vile. You may believe it should be restricted. You may think the authors of the site should be prosecuted. Reasonable people can and do believe all those things. But having the mechanism of content control be vigilante hackers launching DDoS attacks subverts any rational concept of justice.

And here’s the rub. The CEO is obviously conflicted about his actions, taking down a website that he disagrees with. His screed is practically a cry for help, yet he’s doing it in spite of all that. I am shocked that his attorneys permitted him to post this rant, since it opens him up to all sorts of legal issues. Here he is admitting what he’s doing is wrong, wielding the power to arbitrarily take down a site because he woke up in a bad mood then expecting the world to see it his way and respect his decision. He concludes:

Someone on our team asked after I announced we were going to terminate the Daily Stormer: “Is this the day the Internet dies?” He was half joking, but only half. He’s no fan of the Daily Stormer or sites like it. But he does realize the risks of a company like Cloudflare getting into content policing. There’s a saying in legal circles that hard cases make bad law. We need to be careful of that here. What I do hope is it will allow us all to discuss what the framework for all of the organizations listed above should be when it comes to content restrictions. I don’t know the right answer, but I do know that as we work it out it’s critical we be clear, transparent, consistent and respectful of Due Process.

Corporations like Cloudflare and the big web hosting companies literally control the flow of traffic and can do the job that a fascist government wishes it could impose on its people. The political environment is so aggressive now, the leftist tech community are now emboldened to intermingle their views with their business practices. Who in their right mind can make the claim that America is accepting of dissent and permissive of free speech anymore? By definition, freedom of speech is allowing hate speech to exist. Now that we’ve crossed the rubicon of freedom of expression, all for the good of the public, expect the environment online to get increasingly toxic.

One Comment

  1. Posted August 18, 2017 at 8:46 am | Permalink

    Meerkats in Free Fall as Trump Kicks Them Off The Air Force One

    as soon as i found that out, i cashed out, eliminated my entire portfolio, what kind of economy can we expect when token negro CEO’s start quitting dog+pony shows?

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