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Wednesday Morning: Whip It Good

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When a problem comes along you must whip it
Before the cream sits out too long you must whip it
When something’s going wrong you must whip it

— excerpt, Whip It by Devo

Can’t tell you how many times I’ve thought of this song in the last couple of days.

Panama Papers fallout
Still not as much reporting showing up in global media as one might expect from a collaborative effort the size of that mustered by the International Consortium of Investigative Journalists (ICIJ) and German news outlet Süddeutsche Zeitung (SZ) around the leaked Panama Papers. But there is a slowly building debris field accumulating in the leak’s wake.

  • Iceland’s Prime Minister Sigmundur David Gunnlaugsson resigned after ~7.5% of the population showed up at a protest rally (Channel NewsAsia) — But you probably know this much already, right? Icelanders don’t mess around with even so much as the appearance of conflict. Hope somebody will tell us if bananas are a thing at protests in addition to eggs, yogurt, and tissue paper. (see photo).
  • Chair of Transparency International’s Chile chapter resigned (Transparency.org) — Oops. But kudos to Transparency for the prompt and direct reaction after the leak revealed the Chilean chair had been involved with
  • China squelched reporting ties to leadership and revelations in Panama Papers (SCMP) — The suppression includes redirecting search engine queries to stories about sports figures involved in the scandal.
  • Amazon’s cloud now home to the Panama Papers source documents (Forbes) — And tiny Australian software firm Nuix has been helping with sifting through the documents.

What will today bring?

Related? Pfizer and Allergan nix their merger
Proposed changes to Treasury Department rules are blamed for the breakup of this corporate marriage, in which Pfizer would have moved its headquarters to Allergan’s location in Ireland to avoid U.S. tax rates. Public sentiment about offshoring after the Panama Papers leak may have clinched this split.

Miscellany

  • Heat pump technology could reduce energy use in clothing dryers by 40% (Phys.org) — Here’s a great use of our tax dollars, this research by U.S. Department of Energy’s Oak Ridge National Laboratories. Dryers are the largest consumer of electricity in households equipped with them. As much of U.S. energy is produced by fossil fuel, this could have a dramatic impact on CO2 output. Let’s hope Congress encourages more of this kind of research as well as tax credits for related corporate R&D and consumer purchases.
  • Orbeus, a photo-recognition software company, has been acquired by Amazon (Business Insider) — Imagine getting this message the next time you upload your personal photos to your Amazon Prime Photo account: “People who purchased your spouse’s belt on Amazon also purchased this underwear/lubricant/sex toy.” Just, no.
  • STARZ premium cable channel will now offer a direct streaming service for cord cutters (Ars Technica) — The offering will work much like HBO Direct. But will ISPs that offer STARZ (like Comcast and Charter) attempt to throttle this service as it cuts into their bundled sales? Net neutrality is going to get a work out as more cable channels offer their content straight to consumers.

Monday Morning: Welcome to BVI – Have a Tax-Free Day

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Aw, shucks. Spring Break is over just as I find another warm place to visit. The British Virgin Islands expect a balmy daytime high of 84F/29C degrees today with partly cloudy skies.

And a 100% chance of tax havens galore.

Blood’s in the water, though, stay ashore. You may hear a lot in the media today about the Panama Papers leak dump in which the BVI feature prominently. What you won’t hear much about: this is the second leak about tax havens in exactly three years.

Jack-doodly-squat happened after the first one in April 2013.

The UK’s PM David Cameron was pressed in 2013 to do something about BVI’s tax laws. He said he would work with the G8 to tackle tax evasion. Of course, we now know why he sat on his hands; he had highly-rewarding and substantial familial interest in doing nothing but continue his family’s tax avoidance scheme. And yet he still managed to get reelected last year, the corrupt pig fucker.

If governments had felt any pressure at all to do something corrective, there wouldn’t be a second wave of leaks, right? But the 1% have continued to milk profits from businesses, transfer the money offshore, and buy themselves enough politicians and corporate media to ensure things remained nice and cozy.

Color me skeptical that anything will come of investigations into tax shelters which are for the most part legal, thanks to pwned and compromised governance. But the unfolding story sheds new light on older ones.

Like the decade-plus work on tax havens and abusive tax schemes by the U.S. of Permanent Senate Committee on Investigations, which did not slow or stop the offshoring of capital. B-schools continue to teach offshore tax shelters as ‘A Good Thing’, right alongside ‘Taxes Are Bad’ — because the 1% have amassed enough money to make sure legislators and B-schools’ leadership stay bought.

How much do the Panama Papers leak materials overlap with the Swiss Leaks scandal, including India’s investigation into HSBC, money laundering and influence peddling, reaching into the UK and beyond?

Or a more recent story about hacked elections, including Argentina’s. Has laundered money acquired the services necessary to manipulate elections in order to ensure nothing would change in tax laws?

Perhaps the Panama Papers will offer a more cohesive picture of just how badly the 99% are being screwed, if nothing else.

Nothing else, that is, besides the No Confidence vote Iceland’s Prime Minister Sigmundur David Gunnlaugsson now faces after the Panama Papers revealed his financial interests in BVI.

It’s actually rather quiet on the technology front as I write this. I’ll add a few snippets later after caffeination.

Friday Morning: Afro-Cuban Coffee

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I should just dedicate Fridays to different genres of jazz. Today feels like a good day for Afro-Cuban jazz.

This chap, Francisco Raúl Gutiérrez Grillo, who performed under the name Machito with his Afro-Cubans, was an incredibly important innovator shaping Afro-Cuban jazz as well as modern American music. He was important to race in the music industry as well, as his Afro-Cubans may have been the first multi-racial band.

I’m brewing some Café Bustelo before I bust out my dancing shoes. ¡Vamonos!

Judge applies ‘Parkinson’s Law’ to VW emissions cheat case
You know the adage, “work expands so as to fill the time available for its completion”? U.S. District Court Judge Charles Breyer gave Volkswagen 30 days to come up with a fix* for all the emissions standards cheating passenger diesel engine cars in the class action lawsuits he oversees in San Francisco. Gotta’ love this:

“It’s an ongoing harm that has to be addressed … I’ve found the process is a function of how much time people have available to fill. The story about lawyers is that that if you give them a year to do something, it will take them a year to do something. If you give them 30 days to do something, they’ll do something in 30 days.”

As time passes, vehicle owners are increasingly damaged as no one wants to buy their cars and their investment is lost. Hence the aggressive time limit.

* Caution: that link to SFGate may autoplay video and ad content. Really, SFGate? That’s such hideously bad form.

Rough road ahead in Saudi Arabia to a post-oil world
This piece in WaPo paints a grim picture of cheap oil’s impact on Saudi Arabia — and there are huge pieces missing. Worth a read while asking yourself how much Saudis are spending on military efforts against Yemen and Syria, and what new industries they’re investing in to replace oil-based employment.

Took long enough: Software and social media firms get Apple’s back
Did their legal departments finally read the case thoroughly and realize they had skin in this game, too? Who knows — but Google as well as Microsoft are planning to file amicus briefs in support of Apple. Microsoft had already indicated they would support Apple in a congressional hearing yesterday morning; Google piped up later. The latest skinny is that Facebook and Twitter both intend to file briefs as well in favor of Apple. Looks like Microsoft’s current management took an 180-degree turn away from progenitor Bill Gates’ initial response, hmm?

Hit and run

That’s a wrap on this week. Keep your eyes peeled for news dumps while folks are still picking apart last night’s GOP-cast reality TV show. And make time to dance.

EDIT — 8:40 AM — Ugh, why didn’t the Detroit News publish this piece *yesterday* instead of a Friday morning? Michigan’s Gov. Snyder’s “inner circle” exchanged emails advising a switchback from Flint River a year before the switchback took place, and only three weeks before Snyder’s re-election. There was enough content in this to go to press without waiting for a quote from one of the former advisers.