April 1, 2022

TGIF 4/1/22

Lots of 'week' stuff for you tonight, for people and corporations - because they're people too, of course. 

I'd have to say President Biden had a good week, Oh sure, there's still fallout from him not using his inside voice saying that Putin needs to be removed from power, but there was another good jobs report. And we know that presidents (and their daughters) create jobs. The latest figures? 

U.S. employers added 431,000 jobs in March on a seasonally adjusted basis, the Labor Department said Friday. The figure was just shy of forecasts, and there was an upward revision of 95,000 for the previous two months of this year.

The unemployment rate was 3.6 percent, down from 3.8 percent a month earlier and just a touch higher than its levels right before the pandemic.

We'll have to see what the pundits do with this news in the classrooms on Sunday. 

Speaking of pundits and the media and whatnot, I'm confident in saying that both Fox News and CBS News had bad weeks. 

The folks at Fox hired Caitlyn Jenner, saying in a press release

Caitlyn's story is an inspiration to us all. She is a trailblazer in the LGBTQ+ community and her illustrious career spans a variety of fields that will be a tremendous asset for our audience.

That's quite a contrast with how the network's shows covered Jenner when her Vanity Fair cover hit the Internet, but as we know, times change and opinions evolve. Well, some do; - it'll be fun to see what happens if Jenner and Tucker Carlson get together for a chat.

For their part, CBS decided to hire former Trump guy Mick Mulvaney. Reaction, as they say was swift. Vanity Fair's Charlotte Klein noted that "the backlash is rooted in a litany of stains on Mulvaney’s track record that hang over whatever analysis or expertise CBS is now paying him to provide." 

Also not impressed? CBS staffers who are "embarrassed" and "baffled" at the decision, and Stephen Colbert, who was more vocal in making Mulvaney '"welcome."

I for one can't wait to hear Mulvaney's trenchant and objective political analysis, given his calling COVID-19 a media "hoax," telling everyone to "get over it" after Trump extorted Ukraine for political gain, and predicting Trump would accept his 2020 loss gracefully. Is Mick Mulvaney psychic? Get this man to Vegas! He's Nostradumbass.

Obviously, I'm just joking, but why would the Tiffany network's venerable news division put this craven toady-to-a-tyrant on their payroll?

Because the Rs are going to win the midterms, Stephen, you silly goose.

Who else had a week? Jared Kushner, the WhatsApp-wielding son-in-law of the former president. Rep. Elaine Luria (D-NC) said "it was really valuable" that he talked with the January 6th Committee, for six hours or so. Not sure whether he had a good week or a bad one, since it was the Biden administration's refusal to extend executive privilege to him that allowed his testimony, but since he did testify, and Ivanka will as well, I'll give them both a luke-warm good week.

Moving away from the luke warm power couple, let's give a red-hot good week recognition to corporate profits! According to an Axios article, 

...Companies complained loudly about rising costs for raw materials and labor for most of 2021, but data released yesterday...show they passed those costs along — and then some. For the full year 2021, pre-tax profits rose 25% to roughly $2.81 trillion, handily outpacing the 7% rise in consumer prices over the same stretch. (Emphasis added.)

And to lobbyists! The Washington Post tells us

The lobbying industry had a record year in 2021, taking in $3.7 billion in revenue as companies, associations and other organizations pressed Congress and the Biden administration over trillions of dollars in new pandemic spending... (Emphasis added.)

And to stock buybacks! Here's what the folks at The Street have to say on that.

...buybacks reduce a company's shares outstanding, pushing its profit-per-share figure higher. Buybacks also can signal that a company has strong finances...So perhaps it’s no great surprise that companies are ratcheting up buybacks this year, after a record total in 2021. (Emphasis added.)

And don't forget dividends! From an Insider Monkey article a while back, we learned that

In the United States, common dividends in 2021 increased to $78.6 billion, up 89.7% from $41.4 billion in 2020. Higher earnings, sales, and improving margins have enabled companies to start returning shareholder wealth...(Emphasis added.)

All that red hotness has me feeling all patriotic and everything, which is why I have to say that our astronaut Mark Vande Hei had a good week, for sure. He's returned safely to Earth, along with a couple of Russian cosmonauts. after spending 355 days in space, an American record for a single trip. The head of Russia's space agency had seemingly threatened to leave him behind because our response to Russia's invasion of Ukraine, so him getting back in one piece was welcomed news. 

Hillary Clinton had a teeny little bit of a bad week, after she was fined $8000 by the Federal Elections Commission for funding the Steele dossier back in 2016. The DNC was fined $105,000 as well. The fines resulted from a 2018 lawsuit filed by the Coolidge Reagan Foundation, a 501 (c)3 organization with the flimsiest website I've ever seen for this type of group. I'd be surprised if they could even pay for the filing fee for the lawsuit. 

And speaking of lawyers, I'm giving a giant good week to folks involved in teaching law to students at the University of North Carolina. First-year law student Jess Errico filed for an extension on a project for her Research, Reasoning, Writing and Advocacy course, so she and her classmates could watch the Tarheels play the 'Dook' Blue Devils in the Final Four. A 'court' of eight professors and the associate dean for academic affairs granted her request - and added a day, on the hope that the Tarheels end up playing for the championship.

I love everything about this!  Except, of course for all the people who think this is some sort of miscarriage of justice, or that the professors should be fired, and all the rest. That's a whole lot of bad week, self-inflicted misery right there.  

TGIF, everyone. And Go, Blue Devils! Beat Carolina!

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