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While I am trying to restore some bits of sanity in my hopelessly depressed mind by breathing the magical air of the Pacific Coast's Redwoods and pretending for a hot second that the rest of the world doesn't exist, you, my readers, should not be laxing. Especially those who are interested in the posts I file under the sad category It's Only Gonna Get Worse. You MUST check out Benjamin Wallace-Wells' article for New York magazine The Blip about Robert Gordon's economic theory on the inevitable halt of US Economic Growth.
Trust me, it's excellent and incredibly enlightening, even for people in the know. In fact, I have nothing critical to say either about the article (for once a journalist managed to cover a lot of ground in a very concise manner) or the subject matter. Let me give you a little teaser:
"'You look at the numbers, at how much more it costs now to get ahead - all the tutors, the college-prep courses, in some cases the private admissions consultants - and it is just astonishing," Gordon said. What he was describing was a society where the general privilege of simply being American was once again losing out to the specific, inherited privilege of being born rich."
How about that?
Also, it turns out that I'm not the only person with a Ph.D. in Economics who believes in connection between the economic conditions and the quality of cultural environment. When Gordon speaks about Hollywood's golden age he chokes on his tears. My kind of an economist for sure.
So, go on, just click on that link.
Posted in Economics, It's Only Gonna Get Worse, Social & Political Issues, Young People's Plight | Permalink | Comments (0) | TrackBack (0)
Tags: economic slowdown, growth rate, Industrial Revolution , Robert Gordon, US Economic Growth
"Barton Fink is a 1991 American film, written, directed, and produced by the Coen brothers. Set in 1941, it stars John Turturro in the title role as a young New York City playwright who is hired to write scripts for a movie studio in Hollywood, and John Goodman as Charlie, the insurance salesman who lives next door at the run-down Hotel Earle. The Coens wrote the screenplay in three weeks while experiencing difficulty during the writing of another film, Miller's Crossing. Premiered at the Cannes Film Festival in May 1991, Barton Fink won the Palme d'Or, as well as awards for Best Director and Best Actor (Turturro). Although it was celebrated almost universally by critics and nominated for three Academy Awards, the movie grossed only $6,000,000 at the box office, two-thirds of its estimated budget."
From Wikipedia's front-page featured article on 08/13/2013
The Frustrated CFO commentary:
You see, it has always been like that in the cinema production - you either make art or you make money. Sometimes, you go for art and hit the gold vein, e.g. Pulp Fiction ($8 million budget, $213 million gross). It's rare and you have to take big risks. But no one has better economic instincts than Hollywood honchos: they feel in their guts that the money wells are drying out, and they will do anything to keep their mansions, jets, and trophy wives. So, forget risks and forget art; hello meaningless 3D bullshit easily digestible by the billions in China, Russia, and Middle America.
Posted in Business, Economics, It's Only Gonna Get Worse, Movies, Entertainment & Media, Quotes | Permalink | Comments (0) | TrackBack (0)
Tags: Barton Fink, business of moviemaking, Cannes Festival, Coen brothers, economics of movies, movie budget, movie gross, Palme d'Or
A couple of months ago, on the subway, I looked to my left and glimpsed an article that a person next to me was reading. My eye caught a headline - it was a review of the first season of FX's new show The Americans, which I haven't seen at that point.
Do you know that our eyes scan a text much faster than our brains can register the information we see, yet the familiar data will always stand out? I looked at the page for no more than 10 seconds, but I could've sworn that I saw a mentioning of Homeland there. So, I allowed myself to look again (I actually consider it rude when people read over each other's shoulders in public transportation, but couldn't resist in this case). My eyes returned me to the right place and I've read a verbose sentence, which amounted pretty much to the critic's opinion that, as far as spies-vs.-federal-agents shows go, in some ways The Americans was better than Homeland.
Being a devoted fan of Carrie Mathison's completely fucked up character, I decided to check out the FX's (co-produced by Steven Spielberg/Kathleen Kennedy's Amblin Entertainment) period piece (it's set during one of the Cold War's coldest periods, the 80s) about two KGB officers, who have been implanted into American suburbs as a married couple, Elizabeth and Phillip Jennings, sometimes in the 1960s. So, I watched (and enjoyed) the first 4 episodes of the show.
Alas, it's not Homeland (oh, the "professional" critics!): the intensity of the storytelling, the multi-layered subtlety of every single character of the Showtime's hit series - they are not there. I mean, the fact that I was able to stop after 4 episodes and indefinitely postpone watching the rest speaks for itself. I wouldn't be able to do it with Homeland. But it's definitely a very well-made, higher-quality entertainment. It succeeds in tricking the audience into the same fucked up experience of not wanting the main characters, clearly enemies and murderers, to get caught. I definitely plan to watch the rest at some point.
But it's uncanny how a human mind functions - its associative powers work in mysterious ways. The most persistent train of thought The Americans evoked in me had nothing to do with the spydom shenanigans; it was about the intricacies of social and cultural assimilation.
You see, the series' main characters, even though pretend to be US-born, are essentially a first-generation immigrant couple transplanted onto American soil, flawless and accentless English notwithstanding. No matter how intensive their training was back in Russia, it could not have prepared them for the lifestyle and social conditions so acutely different from their homeland. There is a flashback in one of the first episodes that takes us back to "the Jennings'" supposedly first night in America: They enter some motel room and marvel at the cool air coming out of the conditioning unit in the window. That's it. And there is nothing else needed to accentuate the dramatic shift - even the KGB generals, who blessed their clandestine future, didn't have air conditioners in their offices at the time.
Fifteen years later, at the show's "present" time, they don't marvel at the household conveniences anymore - people get used to comforts very quickly. However, their socio-psychological adaptation to American life is a completely different matter.
Phillip/Mischa (Matthew Rhys, an immensely talented and versatile Welsh actor, who himself is obviously assimilating quite well in Hollywood what with five years of playing Sally Field's gay son on Brothers & Sisters and now this series) has completely embraced the American culture and lifestyle. He obviously considers this suburb, this house, this cover business truly his own. For him, it feels like home here. He listens to the same music his very American kids do and speaks their lingo. He even annoys his teenage daughter at the mall in a goofy, American-dad kind of way: He tries on cowboy boots and does a bit of a country dancing to the music playing on the overhead system. He's assimilated to the point that the idea of defecting to FBI is not just plausible, it's desirable and he proposes it to his wife practically in the second episode.
This suggestion is met by Elizabeth/Nadezhda (a convincing Keri Russell, whose severe appearance effectively helps you to forget her soft and fuzzy Felicity past) with a scorn that goes way beyond the slighted sense of duty and reverence for the higher purpose of the "brighter future" she believes she serves. It's not just the ideology talking - you can feel that she LOVES Mother-Russia and still treats her life in America as an assignment.
Living and working in New York City, you deal with immigrants practically every single moment you are at work or in public. And I cannot even begin to tell you what a spectrum of various assimilation degrees one can observe, if one cares to look. Middle-aged and older people, of course, have more difficult time adjusting. But I know young people, who came to this country as teenagers from China, India, Pakistan, Russia, Middle East, went to high schools and colleges here, but have no interest in American culture.
They read only their native-language newspapers, watch only cable channels that show news and movies from their home-countries, even use specific nationally-oriented search engines. These people usually live in the areas predominately populated by their countrymen and frequently end up working for the businesses ran by them as well. It is virtually impossible to have a conversation with them about anything that we consider a common knowledge. They live here for decades, but they give you an impression that they just came from some remote planet. And the longing for their native land is just astonishing, even if it is the most oppressive place on Earth imaginable! Ok, Elizabeth/Nadezhda was sent here to spy, but why these other people came? For the conditioned air?
What I realized, after years of dealing with immigrants, was that the ones with higher ability to assimilate are generally more open-minded, more adaptable, and more cultured people. Those who read Faulkner, watched Coppola, and listened to Jimi Hendrix before they came to the States will continue immersing themselves into American culture. They are the ones who end up caring about the national politics and the future of their new home. The other ones - how can we consider them Americans, even if they carry the US passports?
Posted in Dealing with People, Movies, Entertainment & Media, Social & Political Issues | Permalink | Comments (0) | TrackBack (0)
Tags: assimilation, FX, Homeland, immigration, Keri Russell, Matthew Rhys, melting pot , nostalgia, The Americans
"Critics don't like to admit this, because it makes us seem as herdlike [sic] as civilian TV watchers, but sometimes we decide which shows to take seriously based on on where they air. Track records mean a lot, and certain channels (HBO, AMC, FX,... Showtime) do have a reputation for arty boldness...
Critics and viewers alike tend to assume works that are mainly interested in laughs, excitement, and beauty are inherently less substantive than shows that rip the scabs off life and leave you feeling wrung out or disturbed. That assumption partly explains why so few comedies have won the Oscar for Best Picture. It surely explains why Cary Grant, the most altogether enjoyable leading man in film history, never won an Academy Award for acting: He gave us pleasure no matter what the story and situation and made it look easy."
Matt Zoller Seitz
TV Reviewer for New York magazine
The Frustrated CFO Commentary:
Well, thank you, Mr. Seitz for admitting that "professional" critics (as in those who, for one or another reason, get paid for expressing their opinions in various media) are phonies working off of some preconceived standards instead of assessing the actual quality of the creations they are compensated to review. No wonder, the quality of their work is just as low as that of the majority of people.
And, what a snob: "as herdlike as civilian TV watchers!" Aren't you writing for those TV watchers? So, why are you insulting them? Or you write just for your own ego-massaging purposes? And what are you, may I ask, a military TV watcher?
And the funny part is you still got it all confused, Mr. Unintelligent Snob: The actual "herd" goes altogether for the Kardashians and the Real Housewives. If the narrow slew of snooty hipsters, unable to appreciate art and entertainment on their merit and, therefore, resort to selecting what they watch and consume based on the hype generated by the hipster-catering PR, is a "herd" for "critics" like you, I have no fucking clue, what you, people, are doing in popular media. Definitely not promoting the open-mindedness.
These, so-called, taste-makers are the reason, why the quality entertainment like (forgive me for the "old" references) My So-Called Life, Firefly, and, more recently, Prime Suspect get cancelled. These shows fall in the cracks between the preferences of the masses and the critically acclaimed (most of them, but not all, deservingly so) dramas.
I pride myself on approaching all arts with an open mind and without prejudice. And that includes the TV series. I don't care that The Good Wife airs on CBS and Grimm on NBC. They proved to be quality entertainment with unexpected layers, and I will continue watching them along with Game of Thrones, American Horror Story, and Homeland.
Hell, I even gave Breaking Bad a fair chance: diligently watched 5 first episodes of it - only to find out that the critics who go nuts about it apparently smoke the very meth that Walter White cooks.
Posted in Merit Crusade, Movies, Entertainment & Media, Quotes | Permalink | Comments (0) | TrackBack (0)
Tags: American Horror Story, Breaking Bad, Firefly, Game of Thrones, Grimm, Homeland, My So-Called Life, Prime Suspect, The Good Wife, TV critics
Yesterday, the Washington Post (the oldest periodic publication in D.C.) reported that Amazon's founder and CEO Jeff Bezos was buying the flagship newspaper and other properties for $250 million.
Oh, boy, this makes me laugh so hard!
Not because the newspaper famous for its almost exclusive focus on the national politics is now owned by a person, whose political stance is not very clear: all we know for a fact is that he is a strong supporter of gay marriage (who in the entertainment distribution isn't, especially in Seattle?) and the Internet sales tax (because it will wipe out his small-size competition in the online consumer-goods marketplace). After all, his first priority has always been the expansion of his business, and this might be a good complement to his empire.
These news make me laugh, because I still remember how I was one of the first people I knew to set up an account with young Amazon in 1995. I can recall everyone telling me that I shouldn't rely too much on them, because "the logistics" will never work. And I will never forget how the Wall Street Journal and the New York Times both predicted Amazon's doom in the late 90s (it already went public by then), because the company was in red year after year.
Guess what, it still posts losses ($39 million in 2012), but nobody seems to be concerned anymore. It's a conglomerate that owns 17 brands, including Amazon itself, which became a global source of... pretty much everything. Most importantly it made Jeff Bezos a billionaire ($25 billion evaluation as of this year), who doesn't mind dropping a mere 1% of his wealth to buy himself a "little rag" like Washington Post. It's like if you decided to take $5K out of your $500K (if you are lucky) savings and treat yourself to a nice weekend in Paris. Not a big deal!
Posted in Business, Social & Political Issues | Permalink | Comments (0) | TrackBack (0)
Tags: Amazon.com, Jeff Bezos, Washington Post
From New York magazine's mini-interview with Sigourney Weaver at the 15th Annual Broadway Barks animal adoption event:
"NYM: Did you watch Sharknado?
SW: What? Was there a shark attack?
NYM: So you have not heard of Sharknado?
SW: Are they giving away sharks? Do I have to hold one?
NYM: Any ideas what it could possibly be?
SW: N-a-t-o?
NYM: N-a-d-o.
SW: Is it a convention for sharks?
NYM: It's a made-for-TV movie about shark tornadoes.
SW: Wow. Thousands of sharks swirling? Does it happen way out at sea?
NYM: It's happening on land.
SW: It's like The Wizard of Oz gone mad?
NYM: Essentially.
SW: People are out of their minds."
P.S. from The Frustrated CFO:
1. It was me who thought it was a joke.
2. 100% agree with Ms. Weaver's sentiment.
3. Yet, according to the social media, Sharknado has become a social-media phenomenon, generating over 5,000 tweets (almost beating Game of Thrones' the Red Wedding episode). And, since the substance of social-media exchanges (as well as of the entertainment itself) doesn't matter anymore, but only numbers count, Hollywood studios are very jealous of the unprecedented "success," while Syfy definitely considers a sequel. Hallelujah!
Posted in It's Only Gonna Get Worse, Movies, Entertainment & Media, Quotes, Social & Political Issues | Permalink | Comments (0) | TrackBack (0)
Tags: downfall of entertainment values, It's only going to get worse, Sharknado, social media, Syfy channel
If you are an executive employee (i.e. hired help, not an owner) in a small business, you know what I'm talking about.
Everything used to be pretty transparent: The owner(s) dropped by your office and discussed strategic issues sitting in front of your desk. They ran their ideas by you, stealing yours in the process, which you didn't mind, because you've learned to think of it as a sign of their appreciation. You were a mandatory participant in tactical meetings with various third-parties and considered a welcomed member of the Board of Directors. You were copied on all email exchanges, etc.
Then, BLAM! All of a sudden everything is hush-hush. And it's not like you did anything wrong or have been slacking. No, you are still your highly professional and ingenious self. Yet, when the owners meet (without you now), they close the doors. You know that there are meetings going on without you. You know that there are important matters that your general business acumen could've helped to resolve, but the owners don't seek your opinion anymore. From what you can see (and if you are a CFO, you see more than anyone else) they need your help, but they don't want it. You are excluded from anything outside of your direct professional responsibilities.
And this is unpleasant, to say the least, because, let's face it:
(a) It's a negative change - it would be better not to be included in the first place, then experience rejection for some unknown reason; one minute you were special, an equal, and another (this is how you feel) you are not different from the receptionist, and
(b) The whole damn thing forces you into a guessing mode, which is a direct way to anxiety and depression.
While this situation is definitely common, I will allow that reasons behind it could vary from business to business, and from one owner's personality to another. Yet, I bet that the following four scenarios, crystallized from years of close observation of various business owners, are applicable to the majority of cases:
1. The owner(s) feel intimidated by you. This happens very frequently. Many businessmen have superiority complex and think that they are the smartest people in any room. And then you enter the picture. At some point the owner realizes that you know more, catch faster, and handle things better than him.
Most hired execs (including yours truly) think it's unfair that We, the brilliant and the laudable, are forced to work for "some schmucks," but the person on the other side is hurting too. No, no, no, I'm not going to feel sorry for the poor millionaire boss, but just think for a second - he is caught between the understanding how important you are for the company and his desire to stop feeling like an idiot in your presence.
This sounds like a difficult situation, but rationally speaking this is the best case scenario. IF the boss is a logical person, who cares for his company's (and his own) well being - he will come around; the doors will be opened again. Of course, if he is a self-centered asshole on an ego trip and nothing else matters... see Scenario 4b.
2. The owners fucked something they are responsible for and the business is not doing well (you, the CFO, may not even know it, because the commercial errors didn't translate themselves into fiscal events yet, but it's coming). The last thing they need at this point is you judging them with your I-told-you-so eyes. They feel so awkward that they'd rather hide away than use your help.
3. The troubles are even worth - to the degree that makes them loose sleep and keeps them in a state of perpetual panic. The problem may not even be caused by the business that employs you. For example, one of the owners just got an audit notice from IRS; he knows that some shit could be found in his other businesses that will destroy everything. Or an owner got busted with large quantities of cocaine on him. Stuff like that. Well, you should consider yourself lucky that you are not invited inside those conference rooms with closed doors - you are better off not knowing anything about it for the sake of plausible deniability.
4. The worst case scenario - the meetings are specifically about getting rid of you, while minimizing the impact on the company. We can further subdivide this one according to the underlying causes:
(a) You are too expensive and the owners, while knowing very well that you worth every penny they pay you, don't think the business can afford you anymore, not even with a 30% base reduction.
(b) That owner in the first scenario simply cannot deal with your superiority any longer. He doesn't care how good you are, you've got to go, so that he can forget about you (and he will) and start feeling good about himself again. I have to say, this one is your own fault - if you needed that job, you should've curbed your attitude. (Oh boy, don't I know how incredibly difficult that is!)
Oh yeah, I almost forgot! There is a possibility of a fifth scenario (also straight from my experience with rampant business owners): If the boss starts having frequent (and kind of longish) meetings behind closed doors not with other execs or third-party relations, but with his secretary, you probably need to read my post When Your Boss's Secretary Becomes His Girlfriend, written 2.5 years ago. It is, by the way, one of The Frustrated CFO's Top 5 most popular posts to date. So, I know that this particular scenario is very common.
While the reasons for the closed doors vary, your course of action is limited two just two options: (a) suck it up and continue doing your job for the sake of your paycheck, or (b) look for another job and, if you get lucky (real tough for CFOs nowadays), get out. Take my advice: don't lower yourself to passive-aggressive stance, or seek an open confrontation with the owners, or attempt to "ask around." You will not achieve anything this away and it will only make you feel worse.
Posted in Bosses, Business, CFO Folklore, Dealing with People, Practical Advice, Psychological and Behavioral Topics | Permalink | Comments (0) | TrackBack (0)
Tags: being included, Board of Directors, Boss, bosses, CFO, CFO participation, executives, secret business meetings