Corporatism and Banana Republics
| PNUT GALLERY |
Modern day Hamlets ask, to refrigerate or not to refrigerate. |
| IN A NUTSHELL: MUST READ |
Trump’s Corporate Enemies and Friends: President Trump has been using the bully pulpit of the Presidency to strike fear into companies: aerospace & military contractors, automakers, and the media. Despite the fervent tweeting, there’s been no trust busting yet. Trump’s latest criticism centered on a most bourgeois corporate target: Nordstrom. Trump denounced Nordstrom for “unfairly” halting sales of his daughter’s product line. We never thought our democracy would come to this, but this topic was even addressed during the daily press briefing. Spicer supported Trump but he has his own corporate travails ranging from a longstanding feud with Dippin Dots. Next in Spicer’s crosshairs will probably be Venmo/Paypal. Melania Trump not to be outdone, is seeking $150 million for damages to her brand and loss of business opportunities. Perhaps the administration favors Banana Republics because that way they can ensure their clothing brands can be sold at any outlet. Meanwhile companies and CEOs who have publicly sided with Trump are facing internal dissent. Over 1,800 IBM employees have petitioned their CEO to put some daylight between the company and Trump. Dissension is even more apparent in Under Armour after the Under Armour CEO called Trump an asset. Stephen Curry, Under Armour’s most high-profile sports endorsement demurred from this assessment calling Trump an asset if you remove “the ET from asset!” Curry’s wordplay is almost as lethal as his three point shots. Under Armour sought to quickly contain these differing viewpoints. And they would. Financial analysts believe Curry is worth billions to Under Armour’s future. While some CEOs like Uber’s have distanced themselves from the administration, other leaders like Intel’s CEO kowtowed yesterday to Trump. At the White House, Intel announced plans to invest in the United States. Apparently this is likely fake corporate news because the same announcement was made under Obama’s administration and Intel of late has been laying off workers. In summary, the corporate reaction to Trump is starting to be as divisive as the electorate. With a notable venture capital investor criticizing Trump’s business council as executives who “flourished during the four decades that the people Mr. Trump purports to represent have languished.” Trump’s views on Goldman Sachs and the financial sector have also evolved. While campaigning, Trump criticized Senator Cruz and Hillary Clinton for being associated with Goldman Sachs. But there are now at least six senior officials in his administration with ties to Goldman Sachs. Same as it ever was… |
| KEEPING OUR EYE ON |
US-Sino Relations Simmer Down Now: Trump and China’s leader have stopped giving each other side eye and are now pen pals. This comes as the Chinese Foreign Ministry started praising Jim Mattis’s suggestion that diplomacy be the priority in the South China Sea. Romania Protests Continue Unabated: The Romanian government survived a no-confidence vote yesterday, and protesters extended their rally to the 9th day. Protesters fueled by the frustration of rampant corruption that extends to all spheres of life seem intent to stay until major changes take place. Many news sources globally have applauded the protesters for their nonviolence, savvy protest tactics, and how effective they have marshalled public support in their favor. |
| LOOSE NUTS |
BE SMARTER If you want to sound marginally more intelligent, then here are some additional articles that caught our eye:
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