Asinine Advice from AIG CEO

AIG CEO Robert Benmosche told students complaining about the economy and unemployment “You have to accept the hand that’s been dealt you in life.” Lame.  Yes, in general this advice is true, but the context and source of such words is more than a bit hypocritical.

AIG certainly didn’t “accept its hand” when it should have gone bankrupt and left shareholders and bondholders empty-handed.  Instead, AIG went crying to the U.S. government again and again and again, ultimately netting more than a $182 billion dollar bailout.  These bailouts were used to pay out bad derivative investments 100 cents on the dollar — so the counter-parties to AIG’s bad business deals also didn’t have to “accept the hand” that was dealt to them.

So just to be clear, Mr. Benmosche — your company helped wreck the global economy, your company cried to the government for huge bailouts (which also helped wreck the country’s balance sheet), your company  accelerated job destruction through AIG unit sales and shut-downs in addition to AIG’s overall contribution to the collapse of the US the economy, and your business partners all got to do the same — BUT you think students who haven’t even had the chance to work as adults should get “tough-love” treatment while they pay for the sins of AIG?

Fuck you very much, Mr. Benmosche.

*Yes, I’m fully aware that Benmosche did not start running AIG until after the economic collapse. That doesn’t change my opinion.  He is speaking as the CEO of AIG, and he must acknowledge that AIG certainly does not live by the standards that he preaches, nor would he have the CEO position if AIG did live honestly by the “deal with it” philosophy.  The only reason AIG exists (as anything other than a bankruptcy zombie, e.g. Lehman), and the only reason why Mr. Benmosche is CEO of AIG, is because AIG didn’t have to “deal with it” the way honest, rule-of-law citizens and businesses must deal with their own situations.

3 Pro Tips for SXSW Bands Visiting Austin

Most of the bands returning to Austin or visiting SXSW for the first time plug in to its quirky, frenetic, and friendly atmosphere with a positive attitude.  You are a huge part of what makes SX so great!  A small minority of bands are still learning how to “play well with others.”  A single incident I witnessed yesterday illustrated these three pro tips:

1.  Be nice to the sound guy.  Austin is welcoming community where folks don’t take themselves too seriously and friendliness is the daily juice.  There’s no room for divas at SX.  Rude or disrespectful attitudes, gestures, and comments won’t motivate your sound tech, and your audience will think you’re a jerk.   

2. Austin has an indoor smoking ban.  You light up a cigarette just to stick it between your guitar strings while you play?  It’s not as cool looking as you think, and it’s against the law, so cut it out!

3.  Give us original music.  Leave your cover songs at home.  Above all things, avoid playing Stevie Ray Vaughan or Jimi Hendrix — we have local artists that shred these classics at our favorite watering holes every single week, and your version likely pales in comparison.

Austin is wide open for as much creativity, sound, and adrenalin as you can muster.    Keep these pro tips in mind and you’ll be on your way to a better SXSW experience that connects with your audience and the community.

Defense Contractor Shares Social Media Spy Technology with US Government, and You Only Think Your Privacy Settings Are Real

Keep on posting. Everything you say can - and will - be used against you. 

The sophisticated technology demonstrates how the same social networks that helped propel the Arab Spring revolutions can be transformed into a “Google for spies” and tapped as a means of monitoring and control. Read More …

And don’t get fooled into thinking that your privacy settings keep your info private.  Third party apps on Facebook allow your friends (even friends you’ve excluded with FB privacy settings) to trade your data to third parties, who can exploit it any way they choose:

Facebook privacy settings said to be bypassed by Storify app. Read More … 

I really hope the new entity is called ‘Random Penguin’

Book publishers Penguin & Random House to Merge: http://on.wsj.com/ST8bJj