Author: Steven Guccione

A Sense of Purpose

Steven Guccione

Larry Fink, the CEO of BlackRock ($5.7T AUM), sends out an annual letter to CEOs.  This year it talks about ‘stakeholders’ and long term value and “a new model for corporate governance”.   Worth a read.

A Sense of Purpose

. . . a company’s ability to manage environmental, social, and governance matters demonstrates the leadership and good governance that is so essential to sustainable growth, which is why we are increasingly integrating these issues into our investment process.

Companies must ask themselves: What role do we play in the community? How are we managing our impact on the environment? Are we working to create a diverse workforce? Are we adapting to technological change? Are we providing the retraining and opportunities that our employees and our business will need to adjust to an increasingly automated world? Are we using behavioral finance and other tools to prepare workers for retirement, so that they invest in a way that that will help them achieve their goals?

As we enter 2018, BlackRock is eager to participate in discussions about long-term value creation and work to build a better framework for serving all your stakeholders.

 

Wood Replacement

Steven Guccione

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Had a wooden shelf in our shower.  It was made out of some sort of exotic wood and did last a decade or more.  Decided to replace it when it started to fall apart.  After much searching for proper wood for this sort of environment (is there any such thing?) I decided to go with a cedar 2×4 I had in my shed and some fiberglass resin.  Used this stuff once when I was in high school to make a darkroom trough and it is pretty tough (and looks good too).  Will send an update when I get it bolted to the shower wall.

Poverty Point

Steven Guccione

Just ran across this today.  Never heard of it before.284px-Louisiana_-_Poverty_Point_-_Karte_(English_version)   From the Wiki page:

Poverty Point comprises several earthworks and mounds, built between 1650 and 700 BCduring the Archaic period in North America, by a group of Native Americans of the Poverty Point culture. The culture extended 100 miles (160 km) across the Mississippi Delta. The original purposes of Poverty Point have not been determined by archaeologists, although they have proposed various possibilities, including that it was a settlement, a trading center, and/or a ceremonial religious complex.

The 910-acre (1.42 sq mi; 3.68 km2) site, which has been described as “the largest and most complex Late Archaic earthwork occupation and ceremonial site yet found in North America“[4] is a registered National Monument. The monument was brought to the attention of archaeologists in the early 20th century, when it was given the name of Poverty Point after a nearby plantation.

 

The American Dream Is History

Steven Guccione

I have always like Martin Sosnoff’s articles in Forbes.  He is usually a stock picker with lots of old fashioned lingo and stories, but this time he goes into facts and figures on the American poor and middle class over time, mostly from “A Century of Wealth in America” by Edwin R. Wolff.

Wealth inequality is getting lots of attention lately, but I think America is winding down its post-war boom (and Boomers).  It remains to be seen what economic and political direction the country will take. I always found it funny that “America” is really just a part of North America, sandwiched between Mexico and Canada.  In many ways we split the difference.

The American Dream Is History