Is Blagojevich A Synonym for Hubris?

Not even close. See my price list below.

Communicating --
Reading your emails: US$1/ea. No charge for reading your responses to emails I initiate.
Telephone calls: US$1/minute when you initiate the call. US$0.50/minute when you return my calls.*

Structured Social --
Meeting you for breakfast/lunch/coffee: Mileage**; you buy.
Meeting you for drinks: Mileage; you buy.
Meeting you for dinner: Mileage; you buy the food and wine, but I will buy my cocktails.
Attending your social engagement: Mileage; US$20/hr when food*** is served, US$30/hr without food.

Unstructured Social --
Hanging out: Mileage; US$15/hr.****
Entertainment: Mileage; you buy the tickets, food and drinks. No hourly charge.

For social interactions not listed here, please call for a quote.

I DO NOT CHARGE FOR TRAVEL TIME!

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*Surcharges may apply such as US$0.10/min for listening to you complain about former significant others. Complete rate card available on request.
**US$0.60/mile.
***When consumed in appropriate amounts, would constitute a meal as defined by a reasonable person.
****Not applicable to attending your social event.

Stupid Bailout Tricks: San Jose, California

"San Jose Mayor Chuck Reed says he will request 2 percent — or $14 billion — of the federal government's $700 billion bailout package."
- Associated Press

Does Reed want the money to prop up essential government services -- police, fire, etc. -- that might be cut due to property- and sales-tax shortfalls? Of course not.

"Reed says the city — the nation's 10th largest — needs the money to fund the extension of rapid transit and expand the area's clean technology businesses."

You're the man, Chuck.

Dumb Corporate Email No. 1,256

How many times do I have to tell you senior execs to stay away from emails doing something shady? When will you start to listen?

The latest alleged miscreant to ignore my advice is Greg Reyes, former CEO of Brocade Communications, whose options backdating case goes to a federal jury tomorrow. If he goes down, it will be due to the fact he, like so many others, decided it was less work to use email than dial the phone.

Evidence of my wisdom, and his folly, is this from The Wall Street Journal’s reportage of closing arguments. Note that Reyes is accused of illegally backdating options 2000-2004.

“In summarizing the government's case, Mr. Reeves ran through evidence for 10 reasons why prosecutors allege Mr. Reyes knew full well that backdating was illegal. As the prosecutor spoke, he left a large whiteboard on an easel facing the jury, displaying the government's Reason No. 1: An October 2004 email that Mr. Reyes sent to another company's board member in which the Brocade CEO wrote, in capital letters: "IT IS ILLEGAL TO BACK-DATE OPTIONS GRANTS.''

Take That, Delta Zeta

News arrives that the president of DePauw University has kicked Delta Zeta sorority off campus because of the social group's recent purge of the less-than-pretty-and-popular-and-nonwhite members.

University President Robert G. Bottoms told a news conference, "I came to the conclusion that our approaches to these issues are just incompatible." He did not elaborate.

Delta Zeta national kicked out 23 of its 35 DePauw sisters, including all who were overweight as well as the only black, Korean and Vietnamese members. Six others resigned in disgust.

Delta Zeta HQ issued a statement saying it was "disappointed."

You go, Bob.

Dumb Delta Zeta

Omigod, Delta Zeta national swept out the undesirables at the DePauw University chapter. The ostensible reason was a lack of commitment to recruiting. However, as the New York Times reported:

"The 23 members included every woman who was overweight. They also included the only black, Korean and Vietnamese members. The dozen students allowed to stay were slender and popular with fraternity men — conventionally pretty women the sorority hoped could attract new recruits. Six of the 12 were so infuriated they quit."

A spokesman for DZ headquarters said the organization's overarching concern was the “enrichment of student life at DePauw.”

Does anyone have Elle's phone number?

More Corporate Miscreants

Most Americans believe in capitalism because they know it offers the most opportunity and individual freedom. That, not class anger, is why regular folks hate corporate leaders who lie, cheat and steal.

I'm no different. But what really drives me nuts is the arrogance and stupidity of the corpo-thieves, something I noted in an earlier post.

Now, I come across the story of Gary Min who pleaded guilty to stealing an estimated $400 million in DuPont technology. There's no evidence that Min tried to transfer the information to anyone, but he faces up to 10 years in prison and a fine of $250,000. In contrast, pioneer corporate thief Michael Miliken emerged from two years in prison with $500 million in the bank. That's the dumb part.

Then there's the arrogance factor. According to The Wall Street Journal, prosecutors are considering filing criminal charges against former Broadcom CFO William Ruehle (photo above) who emailed a colleague:

"I VERY strongly recommend that these options be priced as of December 24."

As the newspaper noted: "Broadcom's share price rose 23% between the two dates. The pretense that the options had been granted on the earlier date made them extra valuable."

If nothing else, Ruehle should be convicted of being too lazy to pick up the phone.