I think today is Tuesday, the first day of my 10th week working from home. That would make today...March 80th? April 49th? Who knows.
It is, however, just past lunchtime, and today I had shawarma and mixed news:
Earlier, I mentioned that the state's unemployment office accidentally revealed thousands of records in an own goal. Turns out, Deloitte Consulting did the work, so I am no longer surprised. Note to anyone who needs software written: don't hire a big consulting firm. They don't attract the best developers because they use manager-driven development patterns that irritate the hell out of anyone with talent.
Today I'll try to avoid the most depressing stories:
- The North Shore Channel Trail bridge just north of Lincoln Avenue opened this week, completing an 11 km continuous path from Lincoln Square to Evanston.
- Experts warn that herd immunity (a) is an economic concept, not a health concept and (b) shouldn't apply to humans because we're not herd animals.
- Wisconsin remains in total chaos today after the state supreme court terminated Governor Tony Evans' stay-at-home order, approximately two weeks before a predictable, massive uptick in Covid-19 cases.
- Delta Airlines has decided to retire its fleet of 18 B777 airplanes years ahead of schedule due to an unexpected drop in demand for air travel.
- The pro-contagion, rabid right-wingers flashing placards saying "Be Like Sweden" clearly have no comprehension of Sweden's efforts to slow the spread of SARS-CoV-2.
- US retail sales declined 16.4% in April, pushing the total decline since February to nearly 25%, the worst decline in history.
- Wired has a portrait of Marcus Hutchins, the hacker who stopped the WannaCry virus from killing us all and then went to jail for his previous activities designing and spreading malware.
- Andrew Sullivan tells the story of Samuel Pepys, "the very first pandemic blogger."
Finally, Vanity Fair has reprinted its 1931 cover article on Al Capone, which seems somehow timely.
The US unemployment rate exploded to 14.7% in April as 20.5 million people officially left the workforce, with millions more people leaving full-time work and others not even trying to find new jobs. April's job losses were more than 10 times the 1.9 million reported in September 1945 as the US demobilized from World War II.
Once you've absorbed that, there's more:
Finally, today is the 75th anniversary of V-E Day, when the Nazi army finally surrendered to the Allies, ending the war in Europe. Germans celebrated the event today as a day of liberation from the Nazis.
Remember slow news days? Me neither.
And finally, a cute diner in Toronto where I had breakfast last June has moved to delivery service during the lockdown. Too bad they can't deliver to Chicago.
What an exciting 24 hours.
President Trump made a statement from the Oval Office last night about the COVID-19 pandemic that completely failed to reassure anyone, in part because it contained numerous errors and misstatements. By announcing a ban on travel from the Schengen area of 26 European countries that applies to non-US residents, he enraged our European allies while doing nothing to stop the spread of the virus for the simple reason that the virus has already spread to the US. Not to mention, having a US passport doesn't magically confer immunity on people.
But let's not question the virologist-in-chief at this moment, who has so far refused to heed his experts' advice to issue an emergency declaration until Jared Kushner signs off on it. And wouldn't you guess? Republicans in the Senate have balked at an emergency spending bill because it has the potential to demonstrate that government can help in a crisis, which is why they blocked prevention measures earlier.
A few minutes after trading started today, the New York Stock Exchange hit the brakes to hold the plunge in equities values to 8% for 15 minutes while traders pissed themselves. Trading seems to have stabilized as it resumed, but the markets have now fallen about 25% from their February records.
The National Basketball Association has suspended its season and the National College Athletic Association played the first few games of March Madness without audiences.
In Chicago, PepsiCo became the first company to close its headquarters building, and the Chicago Mercantile Exchange has halted in-person trading entirely. Following California's ban on assemblies of more than 250 persons, Illinois is considering a similar measure. (Scotland has banned groups of 500, and Ireland has cancelled St Patrick's Day events.) And local colleges have moved their spring classes online.
Finally, as a member of the Apollo Chorus of Chicago Board of Directors and as the co-chair of our annual benefit, I am in the position of having to make some of these decisions myself. In another post I'll talk about that. For now, I can say we've sent a few hundred emails around the organization in the past 24 hours because we have concerts scheduled for this weekend and a dress rehearsal scheduled for tonight.
And, of course, I'm working from home again, and I think I should vote today instead of Tuesday.
Updates as conditions warrant.
Eddie Lampert continues to destroy the once-great retailer Sears piece by piece. Yesterday, the company revealed that it has sold the DieHard battery brand to Advance Auto Parts for $200m in cash:
The move follows news in October that Sears had hired investment bankers to advise it on potential asset sales, including the DieHard brand, according to the Wall Street Journal at the time.
Sears has spent the last several years selling key brands to receive cash infusions and survive. In 2017, it sold the Craftsman tool brand to Stanley Black & Decker.
In February 2019, Transform Holdco, owned by former Sears CEO Edward Lampert and his hedge fund, emerged as the buyer of 425 Sears Holdings stores after the company filed for bankruptcy in late 2018.
I really hate that man, but not, one suspects, as much as the tens of thousands of people he's put out of work while killing Sears.
Transport for London (TfL) has declined to renew Uber's operating license for that reason:
Uber has lost its licence to operate private hire vehicles in London after authorities found that more than 14,000 trips were taken with more than 40 drivers who had faked their identity on the Uber app.
Transport for London announced the decision not to renew the ride-hailing firm’s licence at the end of a two-month probationary extension granted in September. Uber was told then it needed to address issues with checks on drivers, insurance and safety, but has failed to satisfy the capital’s transport authorities.
TfL said on Monday it had identified a “pattern of failures” by Uber, including several breaches that placed passengers and their safety at risk.
Steve McNamara, the general secretary of the Licensed Taxi Drivers Association, which represents London black-cab drivers, said: “It’s all about public safety and the mayor has taken the right decision.
“As far as we’re concerned Uber’s business model is essentially unregulatable. It is based on everyone doing what they want and flooding London with vehicles. Uber cannot guarantee that the cars are properly insured, or that the person driving the car is the one that is supposed to be driving, as recent incidents show.”
I expect Uber will work something out with TfL, eventually. For now, they'll continue to operate while appealing the ruling.
Uber, the ride-sharing company that pretends it isn't a ride-sharing company, has started a massive PR campaign against the city of Chicago because Mayor Lori Lightfoot wants them to pay for the damage they're causing to the commons.
Let's unpack all of that.
Lightfoot has proposed a $3 tax on ride-sharing trips into the Loop, Near North, Lincoln Park, and other affluent areas, and a smaller tax on trips out of the center city, because trips in and out of those areas cause several kinds of damage to the city's infrastructure. This is the definition of "negative externalities." In fact, Uber's and Lyft's pricing model has caused the following problems:
- A glut of cars on the road during rush hour, with all the emissions and traffic they cause;
- Reduced public-transit ridership and revenue, which disproportionately harms less-affluent users;
- The destruction of the regulated taxi industry in Chicago, including thousands of bankruptcies due to taxi medallions losing more than two-thirds their value since 2014; and
- The enrichment of Uber's officers and shareholders on the backs of underpaid Uber drivers.
Lightfoot's tax will increase the cost of a trip from Lincoln Park to Chicago by $3. If that pushes people to use public transit instead, we win. If people pay the tax, we win. If Uber's board take home less money, that's a neutral result we can all cheer anyway.
Compared with the way London, for example, has dealt with the environmental damage of cars in the central city, Uber's getting off easy in Chicago.
But of course, having gotten very rich through exploitation of other people, they don't see i that way. (Why are billionaires so whiny these days? Even Carnegie built libraries.)
Because we don't have Satanic mills employing thousands of 9-year-old orphans any more, it's hard to see the direct similarities between companies like Uber and companies like those portrayed in Dickens novels. But guess what? They're fundamentally the same. And Lightfoot's tax is only the first, modest step in Chicago government making life better for everyone in the city in the aggregate. The people complaining the most about the Uber tax are the people to whom $3 hardly matters. You can tell because $3 is more than the price of a CTA ride, and less than the current cost of an Uber ride.
If some Uber shareholders have to suffer a little so that people on the South and West Sides can get to work more reliably, I'm OK with that.
That's American for the English idiom "penny in the air." And what a penny. More like a whole roll of them.
Right now, the House of Commons are wrapping up debate on the Government's bill to prorogue Parliament (for real this time) and have elections the second week of December. The second reading of the bill just passed by voice vote (the "noes" being only a few recalcitrant MPs), so the debate continues. The bill is expected to pass—assuming MPs can agree on whether to have the election on the 9th, 11th, or 12th of December. Regardless, that means I'll be in London during the first weekend of the election campaign, and I'm elated.
Meanwhile, a whole bunch of other things made the news in the last day:
- Writing for the New Yorker, Sam Knight argues that before Boris Johnson became PM, it was possible to imagine a Brexit that worked for the UK. Instead, Johnson has poisoned UK politics for a generation.
- Presidents Trump and Obama came to Chicago yesterday, but only one of the personally insulted us. Guess which one.
- That one also made top military officers squirm yesterday when he released classified information about our assassination of Abu Bakr al-Baghdadi, including a photograph of the dog injured in the raid. The dog's name remained classified, even as it seemed clear that he was a very good boy.
- Grinnell College in Iowa released polling data today showing just how much people don't like President Trump. Moreover, 80% of those polled thought a presidential candidate seeking election help from a foreign government was unacceptable. Adam Schiff cracking his knuckles could be heard all the way to the Grinnell campus.
- An appellate court in North Carolina ruled that the election maps drawn up by the Republican Party unfairly gerrymander a Republican majority, and must be re-drawn for the 2020 election.
- Grubhub's share price crashed today after the company released a written statement ahead of its earnings call later this week. The company made $1.0 million on $322.1 million in revenue during the 3rd quarter, and projected a loss for the 4th quarter.
- The City of Atlanta decided not to pay ransom to get their computers working again, in order to reduce the appeal of ransomware attacks.
Finally, it looks like it could snow in Chicago on Thursday. Color me annoyed.
The Guardian has ranked the 20-largest polluters worldwide based on their addition to atmospheric greenhouse gases since 1965. You will not be surprised:
New data from world-renowned researchers reveals how this cohort of state-owned and multinational firms are driving the climate emergency that threatens the future of humanity, and details how they have continued to expand their operations despite being aware of the industry’s devastating impact on the planet.
The analysis, by Richard Heede at the Climate Accountability Institute in the US, the world’s leading authority on big oil’s role in the escalating climate emergency, evaluates what the global corporations have extracted from the ground, and the subsequent emissions these fossil fuels are responsible for since 1965 – the point at which experts say the environmental impact of fossil fuels was known by both industry leaders and politicians.
The top 20 companies on the list have contributed to 35% of all energy-related carbon dioxide and methane worldwide, totalling 480bn tonnes of carbon dioxide equivalent (GtCO2e) since 1965.
Those identified range from investor-owned firms – household names such as Chevron, Exxon, BP and Shell – to state-owned companies including Saudi Aramco and Gazprom.
Chevron topped the list of the eight investor-owned corporations, followed closely by Exxon, BP and Shell. Together these four global businesses are behind more than 10% of the world’s carbon emissions since 1965.
Columnist George Monbiot says the companies got away with this by blaming you and me for their fossil-fuel extraction:
Even as their own scientists warned that the continued extraction of fossil fuels could cause “catastrophic” consequences, the oil companies pumped billions of dollars into thwarting government action. They funded thinktanks and paid retired scientists and fake grassroots organisations to pour doubt and scorn on climate science. They sponsored politicians, particularly in the US Congress, to block international attempts to curtail greenhouse gas emissions. They invested heavily in greenwashing their public image.
These efforts continue today, with advertisements by Shell and Exxon that create the misleading impression that they’re switching from fossil fuels to renewable energy. In reality, Shell’s annual report reveals that it invested $25bn in oil and gas last year. But it provides no figure for its much-trumpeted investments in low-carbon technologies. Nor was the company able to do so when I challenged it.
The ideology of consumerism is highly effective at shifting blame: witness the current ranting in the billionaire press about the alleged hypocrisy of environmental activists. Everywhere I see rich westerners blaming planetary destruction on the birth rates of much poorer people, or on “the Chinese”. This individuation of responsibility, intrinsic to consumerism, blinds us to the real drivers of destruction.
And the band played on.