The Outrage Thread

[Cotton]

Expect to see more of this.

 

[Sheik]

I am fucking addicted to twitter. Told myself I’d never be one of those idiots on twitter.

Now here we are.

 

[Sheik]

I am fucking addicted to twitter. Told myself I’d never be one of those idiots on twitter.

Now here we are.

Having a post retweeted feels way better than it should.

 

[yimyammer]

 

[Cotton]

 

[Cujo]

The best part about these incidents is if any of those people putting up with this absurd shit were Democratic voters, there is a 90% chance they will now vote Republican.

 

[mcnuttz]

I am fucking addicted to twitter. Told myself I’d never be one of those idiots on twitter.

Now here we are.

Fucking twat!

 

[mcnuttz]

Having a post retweeted feels way better than it should.

Quoting your own post is something only assholes do. You're better than this, Sheiky baby.

 

[Genghis Khan]

Farming Rises, Sports Tumbles in U.S. Industry Ratings

The public images of several U.S. business and industry sectors have shifted amid the pandemic and other key events of 2020. Positive ratings of healthcare and sports have changed the most.

news.gallup.com

The biggest slide, however, has been for the sports industry, with its positive score falling 15 points -- from 45% to 30%.

The sports industry now has a negative image, on balance, among Americans as a whole, with 30% viewing it positively and 40% negatively, for a -10 net-positive score. This contrasts with the +20 net positive image it enjoyed in 2019, when 45% viewed it positively and 25% negatively.

This slide in the sports industry's image comes as professional and college leagues are struggling, and not always successfully, to maintain regular schedules and playing seasons amid the pandemic. Professional football, baseball and basketball games have also become focal points for public displays of support for the Black Lives Matter movement.

While it's not clear how much the various challenges and controversies swirling around the industry are each responsible for its slide in popularity, it is notable that sports has lost more support from Republicans and independents than from Democrats. In fact, Democrats' view of the sports industry has not changed significantly in the past year, while Republicans' has slipped from a +11 net-positive score in 2019 to a net -35 today, and independents' from +26 to -10.

__

A -36 point swing into the negatives in the past year among independents is very interesting.

 

[yimyammer]

So what do we call a "black Karen"?

 

[yimyammer]

I'm at a complete loss as to how to handle people like this as well as the group of assholes that get in peoples faces while they're trying to eat

Only thing I've thought of is trying to find a small but incredibly loud air horn that can run for 30+ minutes (if such a thing exists) and some good ear plugs. Then, if I ever run into one or more of these belligerent assholes, calmly put on my ear plugs and set that horn on full throttle because there's no way I can see to ever be able to reason with any of the above

 

[yimyammer]

 

[Cotton]

So what do we call a "black Karen"?

I'm not sure, but she damn sure is one.

 

[Cotton]

because there's no way I can see to ever be able to reason with any of the above

Nope. Not without violence.

 

[Cotton]

Elon's answer doesn't work for me. Yes, they get compensation from the stocks, but why cut their pay to begin with? You think the stock revenue is compensatory to their salary? You don't think they should get their agreed upon base salary no matter what? What if the stocks plummeted right after the wage cuts? Would it still be okay to ask to employee to rely on a volatile source of income such as stocks? GTFOH.

 

[yimyammer]

Elon's answer doesn't work for me. Yes, they get compensation from the stocks, but why cut their pay to begin with? You think the stock revenue is compensatory to their salary? You don't think they should get their agreed upon base salary no matter what? What if the stocks plummeted right after the wage cuts? Would it still be okay to ask to employee to rely on a volatile source of income such as stocks? GTFOH.

I'm not privy to the exact reasons but I suspect It was related to cash flow issues brought about from the government not letting Tesla operate during the Covid shut down. And I think its better to have an across the board small percentage pay cut where every one keeps their jobs vs massive layoffs.

Additionally, stock value is funny money until sold so Musks net worth claim by The Reich is inaccurate because he'd never be able to liquidate all his shares at anywhere close to the current price because he would flood the market plus whatever Musk got for his stock would be further eroded by the taxes he'd have to pay not too mention how bad the market would react to Musk trying to liquidate all his shares.

Its just more demonization of the so called "rich" so bureaucrats can justify stealing their money with public approval

They sure as hell don't need The (Robert) Reich or the government chiming in with their 2 cents. These people aren't slaves and have a choice (and they should have been saving for a rainy day since they were 18 like I have so they have a choice or "fuck you" money as I like to call it).

 

[Cotton]

I'm not privy to the exact reasons but I suspect It was related to cash flow issues brought about from the government not letting Tesla operate during the Covid shut down. And I think its better to have an across the board small percentage pay cut where every one keeps their jobs vs massive layoffs.

Additionally, stock value is funny money until sold so Musks net worth claim by The Reich is inaccurate because he'd never be able to liquidate all his shares at anywhere close to the current price because he would flood the market plus whatever Musk got for his stock would be further eroded by the taxes he'd have to pay not too mention how bad the market would react to Musk trying to liquidate all his shares.

Its just more demonization of the so called "rich" so bureaucrats can justify stealing their money with public approval

They sure as hell don't need The (Robert) Reich or the government chiming in with their 2 cents. These people aren't slaves and have a choice (and they should have been saving for a rainy day since they were 18 like I have so they have a choice or "fuck you" money as I like to call it).

If this move were to evade the government overreach in taxes, I am all for it. But, it's hard to believe that an across the board 10% was for that purpose. Or maybe I'm misunderstanding what you're saying.

 

[yimyammer]

If this move were to evade the government overreach in taxes, I am all for it. But, it's hard to believe that an across the board 10% was for that purpose. Or maybe I'm misunderstanding what you're saying.

I'm not saying it was to evade the gov, I'm saying their cash flow was impacted by the Covid shut down because that likely effected delivery of products and the income associated with delivering those products & getting paid.

According to this -01-20-20 Forbes article, Tesla has yet to make a profit:

Let’s tackle the most frequently asked question first. Is Tesla making money? Despite strong revenue growth, Tesla has yet to make a profit.

So if they're not making a profit, someone has to fund the losses which is usually done by investors or owners but these are never bottomless pits

IIRC, Elon put most of his net worth into Tesla & SpaceX, so while he may be a paper billionaire, it sounds like he's cash poor as are companies who had long range goals (Amazon ran at a loss for something like 20 years).

If correct, this would explain why the company is having cash flow issues that could be partially remedied by temporary pay-cuts (maybe the cuts aren't temporary, maybe the employees were given a choice to take a pay cut + options, maybe there were other terms we know nothing about, maybe the cuts prevented mass layoffs, etc, etc).

I'm not saying Musk is perfect, none of us are, but the man has devoted his life to endeavors he hopes will improve the world and planet and created tons of jobs in the process

I'm curious how many jobs Mr Reich has created sitting on his lofty perch of smug judgement

Links and Sources:

Elon Musk, Tech’s Cash-Poor Billionaire

On the cusp of a stock-option grant that promises to make him nearly $1 billion richer, at least on paper, Elon Musk made a surprising announcement.

“I am selling almost all physical possessions,” the Tesla Inc. chief executive tweeted on May 1. “Will own no house.”

Why Elon Musk Is Cash Poor (For A Billionaire)

Elon Musk took the stand on Wednesday in a Los Angeles courtroom as part of a defamation trial over his 2018 tweets, in which he called a little-known British citizen a “pedo guy.” During his testimony, a lawyer for the plaintiff asked Musk to estimate his net worth.

The Tesla and SpaceX CEO confirmed he has roughly a $20 billion fortune (Forbes pegs it at $23.6 billion), but added that his liquid assets are relatively low. “Some people think I have a lot of cash,” he said. “I actually don’t.”

The revelation adds to the stakes of the trial. If the jury levels a large judgment against Musk, he may have to sell part of his stake in Tesla or SpaceX, a move he has historically avoided. (Another possibility: He could borrow more money, using his shares as collateral.)

As much as 99% of Musk’s wealth is held in shares of those two companies, Forbes estimates, which helps explain his lack of liquidity. In 2018, for instance, the bulk of his compensation at Tesla came in the form of stock options. Musk declined to accept his base salary of $56,380.

More important, Musk, 48, owes more than $500 million in debts, according to financial documents published earlier this year. That includes $208.9 million in liabilities owed to Morgan Stanley and $213 million borrowed from an affiliate of Goldman Sachs. Musk has pledged nearly half of his Tesla stake as collateral for those loans.

Musk’s entrepreneurial journey stretches back decades. He made his first fortune after selling Zip2, a software firm, to Compaq in 1999 for a reported price of more than $300 million. Three years later Paypal, which he also cofounded, was acquired by eBay for $1.4 billion.

The South Africa native founded SpaceX in 2002 and joined Tesla in 2004; the firms quickly exhausted most of his PayPal earnings, according to a 2015 Musk biography.

 

[Cotton]

I'm not saying it was to evade the gov, I'm saying their cash flow was impacted by the Covid shut down because that likely effected delivery of products and the income associated with delivering those products & getting paid.

According to this -01-20-20 Forbes article, Tesla has yet to make a profit:



So if they're not making a profit, someone has to fund the losses which is usually done by investors or owners but these are never bottomless pits

IIRC, Elon put most of his net worth into Tesla & SpaceX, so while he may be a paper billionaire, it sounds like he's cash poor as are companies who had long range goals (Amazon ran at a loss for something like 20 years).

If correct, this would explain why the company is having cash flow issues that could be partially remedied by temporary pay-cuts (maybe the cuts aren't temporary, maybe the employees were given a choice to take a pay cut + options, maybe there were other terms we know nothing about, maybe the cuts prevented mass layoffs, etc, etc).

I'm not saying Musk is perfect, none of us are, but the man has devoted his life to endeavors he hopes will improve the world and planet and created tons of jobs in the rocess

I'm curious how many jobs Mr Reich has created sitting on his lofty perch of smug judgement

Links and Sources:

Elon Musk, Tech’s Cash-Poor Billionaire



Why Elon Musk Is Cash Poor (For A Billionaire)

I could have sworn I saw that Tesla was way up.

 

[yimyammer]

I could have sworn I saw that Tesla was way up.

The stock is way up.

I assume your point is Musk could have sold some of his shares (maybe so or not, sometimes there are restrictions for a period of time, other weird rules, etc) but he'd have to publicly disclose he was selling which would likely cause the price to drop on fears over why he was selling so perhaps it was more prudent & cost effective to cut pay in exchange for stock options (which may have come from Musks shares of stocks)

I'd love to know all the details around how and why this was done. Perhaps if I did, I'd be critical of Musk.

I also candidly admit I immediately despise self serving bureaucrats who charge $40K+ per speaking engagement while also demonizing the so called "rich" while also implying people are helpless slaves unable to take control over their own destiny