2:00PM Water Cooler 3/28/2024 | naked capitalism

By Lambert Strether of Corrente.

Patient readers, this is at present a little unbalanced, as am I, due to a late start. More soon! –lambert

Bird Song of the Day

Red-winged Blackbird (Mexican Bicolored), 1.31 km al NW del COLPOS, Texcoco, Estado de México, Mexico.

In Case You Might Miss…

(1) Shanahan launch.

(2) Boeing re-org, plus Tcakik on Barnett.

(3) SBF gets twenty five years.

Politics

“So many of the social reactions that strike us as psychological are in fact a rational management of symbolic capital.” –Pierre Bourdieu, Classification Struggles

2024

Less than a year to go!

* * *

Trump (R): “Trump agitates hush money judge as he seeks to stave off NY trial” [The Hill]. “Former President Trump is pulling out all the stops to stave off the start of his first criminal trial, but the New York judge overseeing the case is increasingly appearing to lose his patience in the matter. Judge Juan Merchan just this week refused to sideline the hush money case over alleged discovery violations, issued a gag order to the former president and even threatened his lawyers with criminal contempt, which all came in the form of separate court rulings. The contentious dynamic was also on display in the courtroom Monday, along with other written filings, with the judge on multiple occasions accusing Trump’s team of attempting to circumvent the court’s rulings and question their lack of evidence. It has left Trump’s lawyers with a waning list. ‘Defendant, either directly or through counsel, has repeatedly stated publicly that the defense goal is to delay these proceedings, if possible, past the 2024 presidential election,’ Merchan wrote in a Tuesday ruling noting the Trump team’s legal strategy.”

* * *

Trump (R): “Dems seizing Trump’s properties will create ‘greatest victimhood of 2024,’ re-elect ex-prez: GOP pollster” [New York Post]. “‘If they take his stuff, he’s going to say that this is proof that the federal government and the establishment and the swamp in Washington and all the politicians across the country and the attorneys generals and all of this, that this is a conspiracy to deny him the presidency,’ Luntz continued. ‘He’s going to go up in the polls, just like he went up every single time they indicted him.’” • Not this time, but maybe that’s because the Biden campaign machinery is finally in gear.

* * *

Biden (D): “First lady Jill Biden will publish children’s book about White House cat” [The Hill]. • Not the dogs, then?

* * *

Kennedy (I): Shanahan’s speech introducing herself to the electorate:

Kennedy (I): “RFK Jr. Unveils Running Mate in 2024 Presidential Bid” (transcript) [Rev] (love Kennedy’s Willie Brown reference at 1:32). Transcript is in two parts, first Kennedy, then Shanahan:

[KENNEDY:] Now, the last time I was in Oakland was when I served on the trial team in the Monsanto cases. So we tried two of the three cases in this city. We won 289 million in the first. And then, the third one, which we tried here, we asked the jury for a billion dollars, and an Oakland jury gave us $2.2 billion. That brought Monsanto to the negotiating table, and we settled in all 40,000 cases. But I lived here for several months during that trial, and I got to really love the city. The Monsanto case was the latest in a lifetime of battles for me, to get poisons out of our food and out of our farms and to restore our soils. That effort has consumed a lot of my life. And I wanted a vice president who shared my passion for wholesome healthy foods, chemical free, for regenerative agriculture, for good soils.

And:

[KENNEDY:] And I found all of those qualities in a woman who grew up right here in Oakland, the daughter of immigrants, who overcame every daunting obstacle and went on to achieve the highest levels of the American dream. So that is why I’m so proud to introduce to you the next Vice President of the United States, my fellow lawyer, a brilliant scientist, technologist, a fierce warrior mom, Nicole Shanahan.

“Warrior mom.” Brilliant framing.

[SHANAHAN:] My mother who’s standing right there with her phone up, she immigrated here from Guangzhou, China, and my late father was an Irish and German American. I want to tell you a little bit about my childhood, so you can understand the source of my politics and convictions. My mother’s first job when she came to the United States in 1983 was as a live-in caretaker to an elderly woman here at Lake Merritt. By the time I was born, she worked as a dental office secretary. My father loved my brother and I dearly, but he was very troubled, plagued by substance abuse, and he struggled to keep a job.

(Maybe Shanahan’s gonna end up President. Clinton, Bush the Younger, Obama, and Biden all had serious Daddy issues.)

[SHANAHAN:] Every time my dad lost his job, our family just couldn’t cover expenses. Food, gas, clothing, upkeep. It’s adds up more than you have in this situation. I know a lot of Americans know exactly what that’s like, to just be one misfortune away from disaster. I don’t think we would have made it without food stamps and government help. My mom worked hard, but it wouldn’t have been possible to keep it together without that help. As you probably know, I became very wealthy later on in life, but my roots in Oakland taught me many things I have never forgotten. That . That’s what it’s for. I want to bring that back to politics too. That is the purpose of privilege.

If Shanahan can and maintain that note, she will be formidable indeed. I’m licking my chops a little, waiting for the Harris/Shanahan debate. (Of course, the press hasn’t yet gone into full pull-the-wings-off-flies mode, though I expect that will begin shortly. For example–

Kennedy (I): Also at the Shanahan launch:

Great Barrington Declaration author Dr. Jay Bhattacharya speaks at RFK Jr.’s VP announcement speech:

“We need dissidents in public health, because they’re very often right. The government censored because it knew it was wrong.

We need people like Bobby Kennedy… to restore the… pic.twitter.com/DD57Uh9DVk

— Holden Culotta (@Holden_Culotta) March 26, 2024

Kennedy (I): “RFK Jr.’s vice presidential pick calls IVF ‘one of the biggest lies being told about women’s health’” [Politico]. “Robert F. Kennedy Jr.’s running mate has been a harsh critic of in vitro fertilization, while funding alternative research on extending women’s reproductive years. Nicole Shanahan has for years denounced IVF — calling it “one of the biggest lies that’s being told about women’s health today.’… As a candidate, her criticisms of IVF have taken on heightened importance following an Alabama Supreme Court’s ruling that embryos are children, which briefly forced clinics in the states to pause operations. Republicans and Democrats — including both President Joe Biden and former President Donald Trump — rushed to defend the procedure, which is broadly popular. The 38-year-old’s opposition to IVF and skepticism of the fertility industry makes her an outlier in the presidential field — though she has not called for banning the procedure. Kennedy has not weighed in on IVF access, and has made conflicting comments about abortion access. At the Iowa State Fair, Kennedy, 70, said he supported a ban on abortion after 15 or 21 weeks of pregnancy, but then his campaign said he misunderstood the question and does not support such a ban.” • Let the oppo begin!

Kennedy (I): “RFK Jr. super PAC says it raised $2M after VP announcement” [The Hill]. American Values 2024, the main outside group supporting Kennedy’s White House bid, raked in $2.1 million at a fundraiser on Tuesday, right after the official announcement of tech attorney and entrepreneur Nicole Shanahan joining his 2024 ticket, PAC head Tony Lyons shared first with The Hill. Around 60 donors attended the outside group’s cocktail party, Lyons said….. This is the second-highest amount American Values 2024 has raised at an event. In January, the outside group brought in $5.8 million during Kennedy’s 70th birthday celebration in West Hollywood, Lyons confirmed to The Hill.” And crucially: “The group said it garnered enough signatures to get the independent candidate on the ballot in four states: Arizona [swing], Michigan [swing], Georgia [swing] and South Carolina.” • More on swing states here. We’ll have to see on the Silicon Valley squillionaires. Maybe it’s time for Biden to rein in Lina Khan ka-ching?

Kennedy (I): “Chair says Libertarians are ‘confused’ by RFK Jr.’s VP pick” [The Hill]. “‘I think that a lot of libertarians are a little bit confused over why he chose Nicole Shanahan. I’m sure she’s a lovely person, but she doesn’t necessarily fit into alignment with any of our views,’ Libertarian National Committee Chair Angela McArdle said on NewsNation’s ‘The Hill.’ Kennedy announced tech attorney and entrepreneur Nicole Shanahan as his pick for vice president during an event in Oakland, Calif., on Tuesday. When pressed further on why Libertarians are unsure about Kennedy’s choice, McArdle noted that she had supported President Biden and now-Transportation Secretary Pete Buttigieg. ‘So I’m really unsure how she’s going to fit in with the Libertarian Party. You know, I’m anxious to hear about it,’ she added.” • So perhaps Kennedy has decided on funding ballot access with Shanahan’s money, as opposed to using the Libertarian Party’s existing ballot lines?

Kennedy (I):

This is a post I saw in a group chat that deserves more eyeballs re: Nicole Shanahan and assumptions.

“I promise she is not what you are saying – typical in any way. She still talks in the culture she was raised, California/Silicon Valley 30 something. But what I assure you, is…

— Kyle Kemper Ж (@kylekemper) March 28, 2024

“This moment is as revolutionary as her transformation caused from damage to her own baby by the same murdering profiteers that conned us about the Covid vaccine.” The account is a “lead activator” (whatever that is) at “Team Kennedy.”

Kennedy (I): “Lawyer, mother and billionaire’s ex: Who is Nicole Shanahan, RFK Jr’s VP pick?” [Independent]. “Shanahan may not have the same name recognition or star status as other names previously floated as VP – NFL provocateur Aaron Rodgers, former governor/wrestler Jesse Ventura, and self help guru Tony Robbins, for example – but she has famous friends with deep pockets, experience with enormous wealth and power, and a hardscrabble backstory that make for the consummate campaign catnip.” Also: “She said it took her several more years to forgive her father, with whom she had a complex relationship – and only after she participated in an intensive retreat called The Hoffman Process.” • Thinking like the cheapjack oppo researcher I am: The Hoffman Process reads like California woo-woo (Willliamson is, I think, given insufficient credit for creating a woo-woo permission structure for candidates).

* * *

Kennedy (I): “RFK Jr. not concerned CIA will target him if he’s president” [The Hill]. Kennedy: “That’s not something… that I worry about. I’m not stupid about it. The White House has denied me Secret Service protection, but I do take precautions and I have a very good security firm.” • And a food-taster?

* * *

AL: “In Alabama, Abortion and IVF Helped Flip a Red Seat in a Special Election” [Mother Jones]. • Hence the immediate assault on Shanahan (Politico, above).

PA: “Undated Pennsylvania mail-in ballots should not be counted, appeals court rules” [Pennsylvania Capital-Star]. “Pennsylvania mail-in ballots that are not dated on the outside envelope by the voter should not be counted even if they arrive at a county election office on time, a three-judge appeals court panel ruled on Wednesday. The 2-1 decision from the U.S. 3rd Circuit Court of Appeals strikes down a lower court ruling and sets up a potential Supreme Court battle over Pennsylvania’s mail-ballots that began in 2020, and will almost certainly affect how the swing state’s ballots are handled in the upcoming presidential election. At issue is the materiality provision of the Civil Rights Act of 1964, which prohibits officials from denying anyone from voting because of an error or omission ‘on any record or paper relating to any application, registration, or other act requisite to voting,’ unless it is material to the person’s qualification to vote. ‘Because the date decision is irrelevant to whether a vote is received timely, the blink response is to believe a voter’s failure to date a return envelope should not cause his ballot to be disqualified,’ Senior U.S. Circuit Judge Thomas Ambro wrote in the decision Wednesday. But the provision only applies when the state is determining who may vote, Ambro added, ‘and does not apply to rules, like the date requirement, that govern how a qualified voter must cast his ballot for it to be counted.’” • A nice point!

Democrats en Déshabillé

“My Friend Joe” [Lanny Davis, RealClearPolitics]. “I write now, in the worst pain and shock, with news of my friend Joe Lieberman’s death just moments ago.” • Lanny Davis. Wow. Is he still oiling round the corridors of power? I guess so.

“Joe Lieberman Is Dead” [Atrios, Eschaton]. “He was a bad and dishonest person who delighted in making other people suffer for petty or grotesque reasons, all while basking the glow of praise from a political press who treated him as The Last Good Man In Washington. Embrace being bad, don’t wrap it in sanctimonious smug and demand people you deserve it.” • Lieberman made ObamaCare worse by ripping away even the fig leaf of the so-called public option. Lieberman was a giant Iraq war hawk. And people forget this, but Lieberman gave as the Department of Homeland security, from whence the Censorship Industrial Complex metastasized, among other things. He also defeated an insurgency led by Jane Hamsher and the blogophere. Lieberman was a bad man.

#COVID19

“I am in earnest — I will not equivocate — I will not excuse — I will not retreat a single inch — AND I WILL BE HEARD.” –William Lloyd Garrison

Resources, United States (National): Transmission (CDC); Wastewater (CDC, Biobot; includes many counties; Wastewater Scan, includes drilldown by zip); Variants (CDC; Walgreens); “Iowa COVID-19 Tracker” (in IA, but national data). “Infection Control, Emergency Management, Safety, and General Thoughts” (especially on hospitalization by city).

Lambert here: Readers, thanks for the collective effort. To update any entry, do feel free to contact me at the address given with the plants. Please put “COVID” in the subject line. Thank you!

ake effect by summer. The move by the Democratic administration angered board members, who called it a ‘last-minute stunt’ that undermines their regulatory process. It also sparked a protest by warehouse workers, who temporarily shut down the meeting as they waved signs declaring that ‘Heat Kills!’ and loudly chanted, ‘What do we want? Heat protection! When do we want it? Now!’” • Gavin Newsom, the worker’s friend.

Resources, United States (Local): AK (dashboard); AL (dashboard); AR (dashboard); AZ (dashboard); CA (dashboard; Marin, dashboard; Stanford, wastewater; Oakland, wastewater); CO (dashboard; wastewater); CT (dashboard); DE (dashboard); FL (wastewater); GA (wastewater); HI (dashboard); IA (wastewater reports); ID (dashboard, Boise; dashboard, wastewater, Central Idaho; wastewater, Coeur d’Alene; dashboard, Spokane County); IL (wastewater); IN (dashboard); KS (dashboard; wastewater, Lawrence); KY (dashboard, Louisville); LA (dashboard); MA (wastewater); MD (dashboard); ME (dashboard); MI (wastewater; wastewater); MN (dashboard); MO (wastewater); MS (dashboard); MT (dashboard); NC (dashboard); ND (dashboard; wastewater); NE (dashboard); NH (wastewater); NJ (dashboard); NM (dashboard); NV (dashboard; wastewater, Southern NV); NY (dashboard); OH (dashboard); OK (dashboard); OR (dashboard); PA (dashboard); RI (dashboard); SC (dashboard); SD (dashboard); TN (dashboard); TX (dashboard); UT (wastewater); VA (dashboard); VT (dashboard); WA (dashboard; dashboard); WI (wastewater); WV (wastewater); WY (wastewater).

Resources, Canada (National): Wastewater (Government of Canada).

Resources, Canada (Provincial): ON (wastewater); QC (les eaux usées); BC (wastewater); BC, Vancouver (wastewater).

Hat tips to helpful readers: Alexis, anon (2), Art_DogCT, B24S, CanCyn, ChiGal, Chuck L, Festoonic, FM, FreeMarketApologist (4), Gumbo, hop2it, JB, JEHR, JF, JL Joe, John, JM (10), JustAnotherVolunteer, JW, KatieBird, LL, Michael King, KF, LaRuse, mrsyk, MT, MT_Wild, otisyves, Petal (6), RK (2), RL, RM, Rod, square coats (11), tennesseewaltzer, Tom B., Utah, Bob White (3).

Stay safe out there!

Maskstravaganza

“Children’s experiences of mask-wearing: a systemic review and narrative synthesis” [Journal of Evaluation in Clinical Practive]. I highly recommend reading this piece in full (for the crowd yammering about lockdowns, the adage “When they say it’s about the children, it’s never about the children” applies. Not so for this piece. To start:

While mask efficacy and safety are important considerations for policymakers, this research focuses on the acceptability of masks in children. This is because a mask that is 100% effective at preventing transmission but only worn by 10% of the population will have less impact than a mask that is 50% effective but worn by 95% of the population.8 Beyond the COVID-19 pandemic, insights into the acceptability of mask-wearing by children could be translated to other existing illnesses such as Tuberculosis, for areas with severe air pollution or for future respiratory pandemics.

Here are the eminently sensible suggestions of the children — follow me closely here, they actually did this, instead of yammering about RCTs — interviewed:

Children’s perspectives on mask appearance, fit and comfort were reiterated in the consultation with children. Most children wrote about the importance of mask appearance. A mask that can be customised by ‘colour’, ‘hobby’ and ‘artwork’ were all described. Decorating masks with ‘stickers’ and ‘pens’ was suggested in many designs. This, therefore, implies that framing masks in a playful manner, and as a tool to express individuality, is important. Interestingly, a design by an older participant (aged 13 years) noted that a ‘simple design for everyone to wear’ was important, with the ‘school logo so that they are all similar’. This suggests that the needs of younger children (who prefer playful individual masks) may differ from older children (who felt that uniformity in masks for schools is important). A mask that fits well was mentioned as a priority by eight of nine participants and this included a good fit around the ears, nose, and chin.

While the consultation with children closely reflected the findings of the review, they also yielded additional perspectives. Designs by children as young as seven showed concerns for the environmental impact of mask-wearing, with one child stating that masks should be ‘recyclable so that I don’t damage the environment when throwing it away’. Children were designing masks that were ‘plastic-free’, ‘washable’ and ‘sustainably sourced’. There was also more prominent concern around minimising viral transmission when designing an acceptable mask. A ‘liquid-absorbent layer’ was suggested ‘to catch coughs and sneezes’.

Children also made suggestions for how their experiences of mask-wearing could be improved, which provides additional insight into the barriers they may currently face with mask-wearing. Most drawings of masks included adjustable straps around the ears, for a variety of reasons: ‘to help (children) run’, ‘so the mask doesn’t fall off’ and so that the masks can be ‘adjusted easily (to their) age’ and so that the ‘straps don’t press on (their) ears’. Often, recommendations were made for an adjustable wire around the nose, with one participant explaining that this may prevent the mask ‘from slipping’. Participants prioritised comfort during all day-to-day activities, including ‘when speaking’ and requiring a mask not to ‘stick to the nose or mouth’. One participant suggested that people wearing spectacles need some form of ‘steam blocker’ at the uppermost aspect of the mask. Another suggestion to improve comfort was a ‘stretchy strap …behind the head to stop the mask from moving’ to avoid ‘ear straps …as they can hurt sometimes’. This demonstrates the importance of involving children in mask-wearing research, instead of focusing on the perceptions of adults. One participant noted that a mask that was ‘see-through to smile at people’ was important, suggesting an adaptation that may help facilitate non-verbal communication.

The last comment is important: If the “I want to see your smile” crowd at HICPAC had a shred of intellectual honesty — or, for that matter, common decency — they’d be advocating for masks with see-through functionality, instead of hanging on to their Baggy Blues with a death grip, or trying to get rid of masks altogether.

A parable:

Transmission

“Study: Kids with COVID but no symptoms play key role in household spread” [Center for Infectious Disease Research and Policy]. “A study today in Clinical Infectious Diseases conducted across 12 tertiary care pediatric hospitals in Canada and the United States shows that asymptomatic children with COVID-19, especially preschoolers, contribute significantly to household transmission. The researchers discovered that , a rate higher than expected. ‘We determined that the risk of developing symptomatic illness within 14 days was 5 times greater among household contacts of asymptomatic SARS-CoV-2–positive children,’ the authors wrote. They also found that 6 of 77 asymptomatic SARS-CoV-2–infected children during a 3-month follow-up developed long COVID, or 7.8% of them. The finding is noteworthy, as likely more than 30% of all COVID-19 infections are asymptomatic, and asymptomatic infections are presumed to be benign—especially those in children.” • Oops. Idea: Focus on airborne transmission in schools?

Treatment

“Resonant breathing improves self-reported symptoms and wellbeing in people with Long COVID” [medRxiv]. N = 99. From the Abstract: “Long COVID involves debilitating symptoms, many of which mirror those observed with dysautonomia, and care must be taken with traditional autonomic rehabilitation to avoid post-exertional malaise/post-exertional symptom exacerbation. Resonant breathing exercises require less exertion and can potentially improve autonomic function. The objective of this work was to report on the impact of a resonant breathing program on self-reported symptoms and wellbeing in people with Long COVID…. Self-reported symptoms and wellbeing improved in people with Long COVID completing resonant breathing. Resonant breathing can be considered as an option within the broader treatment plan of people with Long COVID.” • This sounds like woo woo. OTOH, the study was done at the Icahn School of Medicine at Mount Sinai. On the third hand, no cost or harm, potential high gain. And I know people with Long Covid, so maybe it will help. And if it doesn’t, well, we can rule it out and move on.

Elite Maleficence

Gladys setting up Australia for mass infection, good job:

Gladys telling everyone that children under 12 have been “proven not to be carriers or transmitters of the disease.” #covidnsw #nswpol pic.twitter.com/2m9ShbtyYG

— David Marler (@Qldaah) December 23, 2020

And see under “Transmission” above. None of these people will ever admit they were wrong, and they will all continue to make bank, exactly as with Iraqi WMDs and a million other debacles.

TABLE 1: Daily Covid Charts

LEGEND

1) ★ for charts new today; all others are not updated.

2) For a full-size/full-resolution image, Command-click (MacOS) or right-click (Windows) on the chart thumbnail and “open image in new tab.”

NOTES

[1] (Biobot) Our curve has now flattened out at the level of previous Trump peaks. Not a great victory. Note also the area “under the curve,” besides looking at peaks. That area is larger under Biden than under Trump, and it seems to be rising steadily if unevenly.

[2] (Biobot) Backward revisions, I hate them.

[3] (CDC Variants) As of May 11, genomic surveillance data will be reported biweekly, based on the availability of positive test specimens.” “Biweeekly: 1. occurring every two weeks. 2. occurring twice a week; semiweekly.” Looks like CDC has chosen sense #1. In essence, they’re telling us variants are nothing to worry about. Time will tell.

[4] (ER) “Charts and data provided by CDC, updates Wednesday by 8am. For the past year, using a rolling 52-week period.”

[5] (Hospitalization: NY) Looks like a very gradual leveling off to a non-zero baseline, to me.

[6] (Hospitalization: CDC) Still down. “Maps, charts, and data provided by CDC, updates weekly for the previous MMWR week (Sunday-Saturday) on Thursdays (Deaths, Emergency Department Visits, Test Positivity) and weekly the following Mondays (Hospitalizations) by 8 pm ET†”.

[7] (Walgreens) Leveling out.

[8] (Cleveland) Flattening.

[9] (Travelers: Posivitity) Now up, albeit in the rear view mirror.

[10] (Travelers: Variants) JN.1 dominates utterly.

Stats Watch

GDP: “United States GDP Growth Rate” [Trading Economics]. “The US economy expanded an annualized 3.4% in Q4 2023, slightly above the 3.2% previously reported, supported by consumer spending and non-residential business investments, according to the third estimate from the BEA.”

Employment Situation: “United States Initial Jobless Claims” [Trading Economics]. “The number of people claiming unemployment benefits in the US eased by 2,000 to 210,000 on the week ending March 23rd, beating market expectations of 215,000 to extend the momentum of relatively low claim counts since the start of February.”

Manufacturing: “United States Chicago PMI” [Trading Economics]. “The Chicago Business Barometer, also known as the Chicago PMI, fell once again to 41.4 in March 2024 from 44 in the prior month and missing market forecasts of 46. The latest reading indicated that Chicago’s economic activity contracted for the fourth consecutive month in March, and to the greatest extent in ten months.”

Manufacturing: “Boeing is paralyzed, and this failing of its executives and directors is to blame” [Morningstar]. “While some have been keen to frame Boeing’s problems as a consequence of its DEI (diversity, equity and inclusion) efforts, this argument is wildly unconvincing. What Boeing’s problems actually illustrate is that despite corporations adding more women and minorities to boards and C-suites over the past several years, conformity of thought and the strength of social ties are more powerful. The actual problem isn’t a lack of controls, visibility or knowledge. Rather, it is group dynamics. Nell Minow, a leading corporate governance specialist, has decades of experience directly observing board dynamics. She has this to say about : ‘We take these people of extraordinary ability and achievement. We put them in a boardroom, and there they suddenly become totally incompetent. Why is that? My answer is that these are people who have a genius for sizing up the norms of the room and adapting to them. And that’s a fabulous quality to have. But unfortunately, you’ve got 11 people like that – and one very visionary, dynamic leader who controls their information, their access to other people in the organization, and even their tenure and their compensation. That’s not a good system.’ Board selection criteria vary, but while efforts have been made to increase the independence of board members, personal and social connections still predominate. Many studies demonstrate that members tend to have similar backgrounds, political affiliations and even religious beliefs. Bonding on the golf course remains a hallowed professional practice. At Boeing, its 2021 $246 million fine did lead to the addition of aviation and safety experts to the board, and 30% of its directors are women. But neither factor is enough to offset the complex web of connections, relationships and loyalties between its members.” • “Group dynamics” (social and symbolic capital). And, of course…. the money (economic capital).

Manufacturing: “New planemaker chief says Boeing faces ‘pivotal moment’” [Reuters]. “‘This is a pivotal moment for us, and we have serious work ahead to build trust and improve our operations,’ said Stephanie Pope, who was named president and CEO of Boeing Commercial Airplanes on Monday, in an email to employees seen by Reuters.” • Pope’s not an engineer.

Manufacturing: “Boeing had a good week cleaning house – but now comes the hard part” [Morningstar]. “This was Boeing’s best week in many years. A dysfunctional management team was ousted. President and CEO David Calhoun will step down at the end of the year. Board chairman Larry Kellner announced that he would not stand for reelection. Stan Deal, CEO of Boeing Commercial Airplanes, left the company immediately. By several accounts, this long-overdue reckoning resulted from a revolt by the company’s airline customers, concerned about missed production plans, uncertain new model-certification schedules, and high-profile incidents resulting from manufacturing ‘quality escapes.’ Now comes the hard part. Getting Boeing (BA) back on track will take years, maybe decades.” In particular: “If both the company and unit CEO positions are filled by non-engineers, that would be disastrous. In fact, the only time that’s happened in Boeing’s history was in 2012-2015. That’s when the 737 MAX was developed, and certainly a low point in terms of company engineers having access to managerial authority.” • A good week indeed. The relevant hashtag seems to be getting little traction:

Manufacturing: “Suicide Mission” [Maureen Tkacik, The American Prospect]. The deck: “What Boeing did to all the guys who remember how to build a plane.” Gave ’em the old heave-ho, as Tkacik recounts in nauseating (and I admit, gruesomely entertaining detail. What a horrible place to work). Reading all the way to the end: “It is worth noting here that Swampy’s [Barnett’s] former co-workers universally refuse to believe that their old colleague killed himself. One former co-worker who was terrified of speaking publicly went out of their way to tell me that they weren’t suicidal. ‘If I show up dead anytime soon, even if it’s a car accident or something, I’m a safe driver, please be on the lookout for foul play.’…. Discussing Swampy’s death and the whistleblower lawsuit he left behind, the longtime former Boeing executive told me, ‘.’ Did that mean he thought Boeing assassinated Swampy? ‘, he replied. More importantly, he added,’. Let’s say you rob a bank and while traveling at high speed in the getaway you run down a pedestrian and kill them. That’s second-degree murder at the very least.’” • Sounds like Tkacik’s got a source. Good. Things I would like to know about Barnett’s death: Where is the CCTV footage of the parking lot? Has the “silver” gun he is alleged to have used been traced? Was there gunpowder residue on his hand? What did the putative suicide note say, and how and on what was it written? Why did the cops dust the car for fingerprints if suicide is an open and shut case? And what happened to Barnett’s computer? Was it in his hotel room? If so, do the cops have it? Meanwhile, the local paper, the Post and Courier, hasn’t run one single story on Barnett’s death since the original story on March 13. That’s more than two weeks. The silence is beginning to scream. Are the cops having a hard time constructing a story? Is Boeing’s C-Suite involved?

The Bezzle: “Sam Bankman-Fried sentenced to 25 years in prison” [CNN]. “Damian Williams, the US attorney for the Southern District of New York, said in a statement that Bankman-Fried’s 25-year sentence ‘will prevent the defendant from ever again committing fraud and is an important message to others who might be tempted to engage in financial crimes that justice will be swift, and the consequences will be severe.’” • Maybe. Let’s wait and see.

Tech: “Brands Add AI Restrictions to Agency Contracts—Behind the Growing Trend” [AdAge]. “Brands are demanding stronger AI safeguards in their contracts with ad agencies, setting up tension between marketing firms, which are racing to adopt generative AI, and clients, who are worried about all of the ways the technology could steer them wrong. ‘Recently, we won three new pieces of business and in the [master service agreement] it says, ‘you’re not allowed to use AI of any kind, without prior authorization,” said one independent ad agency CEO, who spoke with Ad Age on condition of anonymity to protect the identities of clients. ‘So, that even means they don’t want us to use AI to help work on concepts, not just anything that goes out the door.’ The agency is not alone, as these strict AI terms are becoming more common, according to ad industry leaders. Last year, the Association of National Advertisers updated its guidance to brands, advising them to include clauses about AI and consent in their agency deals. Now, those restrictions are being applied. ‘There is this juxtaposition of agencies ramping up their AI knowledge and usage, and then clients clamping it down,’ the agency CEO said.” • So clients think AI is “box office poison.” Interesting. Let’s wait and see if this holds up.

Today’s Fear & Greed Index: 68 Greed (previous close: 67 Greed) [CNN]. One week ago: 74 (Greed). (0 is Extreme Fear; 100 is Extreme Greed). Last updated Mar 27 at 1:55:00 PM ET.

Zeitgeist Watch

“Inside the Sean ‘Diddy’ Combs’ raids: Emptied safes, dismantled electronics, gun-toting feds” [Los Angeles Times]. “Sources with knowledge of the operation who requested anonymity because they are not authorized to discuss it publicly said it appears investigators searching Combs’ Holmby Hills home emptied safes, dismantled electronics and left papers strewn in some rooms. That tracks with what some legal experts expected investigators would seek if trying to build a sex-trafficking case against the hip-hop mogul. Dmitry Gorin, a former L.A. County sex crimes prosecutor who is now in private law practice, said investigators would likely seek authorization to ‘search for videos or photographs on any devices connected to the target … anywhere where digital images can be found in connection to sexual conduct that would have been recorded.’ It is unclear what was recovered in the bicoastal searches. Federal authorities spent several hours at both homes. Sources said Combs was in Miami at the time but was not at his Florida home when the raid occurred. No one has been arrested in connection with the investigation.” • A second Epstein, or not?

“50 Cent seeking sole custody of his, Daphne Joy’s son after she’s named as alleged sex worker in Diddy lawsuit: report” [New York Post]. “Rodney “Lil Rod” Jones, who worked with Combs on his latest album, sued the music mogul for allegedly sexually assaulting him. Within the lawsuit, which also name-dropped Prince Harry, Jones claimed Combs’ alleged sex workers were paid a ‘monthly stipend.’ The documents, obtained by Page Six, also claimed Combs used a man named Brendan Paul as his drug mule. Paul was arrested earlier this week as federal agents raided the former Ciroc owner’s homes.” • What I want to know is whether all this interesting detail is representative of life at the pinnacle of the music business, or if it applies to the extremely wealthy generally (with different cultural and identity markers, of course. I’m guessing uyes.

“Touré Says Diddy Fired Journalist’s Family Member From Internship After They Refused to Sleep With Rapper” [Complex]. “Podcaster and journalist Touré revealed in a recent interview that Diddy fired one of his male family members from an internship because they refused to sleep with the mogul. On Tuesday night, Touré sat for an interview with Joy Reid on the MSNBC show The ReidOut, where he offered his thoughts on the latest developments in the sexual assault and trafficking allegations against Diddy. At one point, Touré shared that through his relationship with Diddy, he secured an internship for his relative over 12 years ago. But after just a few months the internship was over, and Touré’s relative wouldn’t explain why. ‘I spoke to my family member like, what happened? And they wouldn’t say,’ Touré said. ‘And I’m like, why did it end? And they wouldn’t say. And years later, they finally came out — and this is a male — and said that, Puff had said, ‘come home, stay the night with me or the internship is over.’” • Nice to see Joy Reid moving on to a new beat. Maybe:

News of the Wired

“Working With Your Hands Is Good for Your Brain” [New York Times]. “But we’re doing less intricate hands-on work than we used to. A lot of modern life involves simple movements, such as tapping screens and pushing buttons, and some experts believe our shift away from more complex hand activities could have consequences for how we think and feel. ‘When you look at the brain’s real estate — how it’s divided up, and where its resources are invested — a huge portion of it is devoted to movement, and especially to voluntary movement of the hands,’ said Kelly Lambert, a professor of behavioral neuroscience at the University of Richmond in Virginia. Dr. Lambert, who studies effort-based rewards, said that she is interested in ‘the connection between the effort we put into something and the reward we get from it’ and that she believes working with our hands might be uniquely gratifying. In some of her research on animals, Dr. Lambert and her colleagues found that rats that used their paws to dig up food had healthier stress hormone profiles and were better at problem solving compared with rats that were given food without having to dig. She sees some similarities in studies on people, which have found that a whole range of hands-on activities — such as knitting, gardening and coloring — are associated with cognitive and emotional benefits, including improvements in memory and attention, as well as reductions in anxiety and depression symptoms.” • I suppose gardening is something like digging up food with my hands….

Contact information for plants: Readers, feel free to contact me at lambert [UNDERSCORE] strether [DOT] corrente [AT] yahoo [DOT] com, to (a) find out how to send me a check if you are allergic to PayPal and (b) to find out how to send me images of plants. Vegetables are fine! Fungi, lichen, and coral are deemed to be honorary plants! If you want your handle to appear as a credit, please place it at the start of your mail in parentheses: (thus). Otherwise, I will anonymize by using your initials. See the previous Water Cooler (with plant) here. From Huckleberry Garden:

This fence leads the eye in pleasingly ramshackle fashion.

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