Money & Markets Report: June 3, 2021

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Friction Matters

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142 Comments

  1. As I am listening to the wrap up, I am a bit disturbed by your comments on the United Airlines pilot hiring. Why is adding women and people of color going to bring down the Excellence of the airline? Help me if I misunderstood, but I think if you listen to your commentary you can see how possible it is for one to come to the the conclusion I’ve stated.

    1. Tanya:

      Try listening again.

      This is about HOW to achieve the optimal team. One way to get to do so – diversity included- is the way I tried it at Hamilton – make your #1 goal excellence – and then add all your other goals. In our case we had a list of 25 technical expertise and 25 cultures that we wanted represented in 49 full time employees. We also found our teams performed much better with a balance of men and women (see that section in the Promoting Women series) so that was important. However, our #1 focus was excellence. When we were judged by HUD for women and minorities it turned out we were way beyond other firms in numbers on both counts. The cultural result of our entire team was more successful because everything was about excellence. The women believed they were hired because they were excellent. The men believed they were hired because they were excellent. Ditto African Americans, Ditto Asians, Ditto Europeans and so forth. Almost everyone strove together to be excellent. It was the juice of collaboration. It took a while to get it working, but once it did I found it made the diversity magical

      This is about intention. When you create an intention to be excellent and to fly the safest airline in the world, you get a very different culture than we when you announce a quota system that sounds like you are playing politics with your workforce. It has nothing to do with diversity. You can achieve whatever you want in terms of diversity when you put excellence first.

      Think of diversity as goals and excellence as spirit. They are not mutually exclusive. In Hamilton’s case, they powered each other.

      Perfect example. I had a squabble on a hire with the lead IT person at Hamilon. He kept proposing candidates who looked, walked, talked and thought like the last people we hired – not checking any new boxes in the 25 X 25 grid. He insisted that he could not find any excellent people who checked the new boxes. We both agreed that there was a person in the firm who was excellent – just did not know anything about IT but she was a fast learner. So he hired her – big promotion – and trained her. And was very happy because she was so excellent and he felt he had maintained his team standard. She turned out to be one of his strongest team members after a year of training. Last time I saw here she was making a few $100,000’s running big time IT systems.

      1. Catherine, thank you for taking the time to clarify. I understand the pursuit of excellence. And I will listen again and have listened a few times to be sure I wasn’t being overly sensitive.
        I do still feel that without the clarification, it was still a bit disturbing to me. I have also listened to the BLM commentary, which I had not seen in the perspective you shared in a recent documentary. I was glad to hear what you said and I think without having heard those comments, THIS particular comment may still be a bit disturbing to some.

        1. Tanya:

          If you have heard my discussions on BLM, the riots in and around the opportunity zones and the shutting down of small business, I believe that the war on the African-American community as part of Covid-19 and related disaster capitalism has been the harshest part. I think that a lot of the BLM and affirmative action talk is air cover for economic and physical genocide. More background about this in https://dillonreadandco.com re private prisons – that is what really got me started on looking at this. I tried to say it in one poster – see the top one here https://missingmoney.solari.com/my212020/

          If you are interested in the excellence issues, and you have time to digest some background information, suggestions would be:

          Future Science Solari Report – Wave Genome
          The Field by Lynne McTaggert
          Promoting Women – https://home.solari.com/commentary-collection-promoting-women/

          That is a lot to listen to/read in this day and age but it will give you some important background on how diversity can build more powerful cultures.

          Catherine

  2. Question for Catherine: If the Nuremberg Code was never formally adopted as law “…by any nation or as official ethics guidelines by any association…” and current U.S. Federal law – 1991 Federal Policy for the Protection of Human Subjects (Common Rule) has wiggle room: “a person participating in an experiment must be informed and give his consent unless a high-level government official doesn’t think it is necessary.” Would we have to amend the Federal Policy or formally adopt Nuremberg to have legal protection or more transparency of experiments taking place?

  3. Has anyone heard of this law firm regarding mandatory vaccine requirements by schools and employers?

    Matt Staver – Orlando Florida – Liberty Council – public interest law firm that cover issues threatening faith, freedom, and family. CONTACT INFO: https://lc.org/about-liberty-counsel
    Examples:
    March 16th – Dean of Louisiana State University – School of Dentistry sent out memo that COVID Shots would be mandatory for all returning students , teachers and staff – non compliance will result in students inability to complete course work requirements and graduate.

    Liberty Council sent out letter of demand – and the school immediately reversed their decision.

    Liberty Council’s letter dated March 18th stated mandate was a violation of fundamental , individual, economic and religious liberties and essentially they would be filing suit shortly thereafter if not reversed – and the decision was reversed in a few days.

    Glenwood, IL Board of Ed sent out memo that all staff had to get vaccine as condition of employment – REVERSED this decision within days of getting letter from Liberty Council.

    Liberty Council was quoted as saying Vaccine Passports and tracking apps are a serious Threat to Freedom. We cannot accept what is Vaccine Blackmail as the new normal – need to push back on coercion.

    Legal Basis:
    Federal HIPA, ADA and American’s with Disabilities act issues related to privacy are being completely ignored and trampled upon by corporations practicing this – whether targeting employees or customers.

    Your Employer does not have a right to invade your medical privacy under EEOC Title 7 Employment Law

    You have additional rights under the Public Accommodation Section of the Civil Rights Act of 1964.

  4. I never saw an answer as to why Catherine had such disdain for Netanyahu. He seems to have done a great job of building a strong Israel and defending against Biblical enemies. He seems well thought of by his people. I always appreciate hearing your perspective. I always learn. Thank you.

    1. Disdain is too nice a word. Detest is more accurate. If the genie came out of the bottle, I would ask him to publish the entire truth of every felony ever committed by a list of people. Netanyahu would be at the top of the list. I believe he has made a major contribution to destroying millions of Americans – not to mention people in the Middle East.

  5. Having lived in Marin Co. almost my entire life, I can tell you that politically this county is 180 degrees opposite of what it was in the 1960’s and 70’s in my youth. I watched as the political landscape changed from conservative to liberal. I am sorry to say that I believe the high vaccination rate here is because so many of the liberal “elite” originally from out of state, dare I say the East Coast, who have moved into the county in the past 35 years believe the propaganda. What I think you have here in the County is a demographic of high per capital income with excellent health care. Folks who are at any sort of legit risk with this “vaccine” are being carefully advised by their health care professionals so that those who might have an adverse affect aren’t getting vaccinated and becoming a statistic. This has got to make a difference in comparison to anyone just walking in to a site doing injections and getting the “jab”. Folks with more loot than I’ll ever see are getting the shot because they are too entitled to have their lives disrupted by losing access to venues or events which might restrict entry to the UN-vaccinated.

  7. I love your analysis’s and the information presented on these videos Catherine. Keep up the excellent work. God Bless

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