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davel [he/him]
davel [he/him] @ davel @hexbear.net
Posts
14
Comments
957
Joined
2 yr. ago

  • So AFM is just like MBFC in that it’s the personal project of one unqualified person who was in the right place at the right time?

    The organization was founded in 2018 by patent attorney Vanessa Otero

    Quoting myself about MBFC:

    Van Zandt is some hobbyist who was in the right place at the right time: the “post-truth” moment of Clinton’s loss to Trump and the string of Russiagate conspiracy theories and Kellyanne Conway’s alternative facts and the Cambridge Analytica hysteria.

  • Yup. Quoting myself quoting myself:

    tl;dr: Private equity. Quoting myself:

    Private Equity colludes with the private banks (which control the Federal Reserve and have largely captured the Treasury) to acquire companies using almost no initial capital. They then strip those companies of as much value as they can and then sell the depleted companies to lower-rung PEs, which squeeze out what little value is left, and so on until the companies default from the highly-leveraged debt PE saddles them with. These are asset stripping schemes.

    Part of the scheme in this case was to make Red Lobster sell off its stores and rent them back at high rates. LA Times:

    If one is looking for the original sin in Red Lobster’s decline, however, a good candidate would be the deal that brought it under Golden Gate Capital’s ownership. The private equity firm bought the chain from Darden for $2.1 billion, financing the sale in part by selling the real estate underlying 500 restaurants to the real estate firm American Realty Capital for $1.5 billion.

    This was a sale-leaseback transaction, in which Red Lobster was instantly converted from the owner of its property to a tenant on the same property. The leases were typically long-term — as long as 25 years — with annual rent increases of 2% baked in. They were also triple-net leases, meaning that the restaurants were responsible for paying operating costs, property taxes and insurance.

    Red Lobster thus lost a great deal of flexibility for closing underperforming restaurants and cutting costs. The bankruptcy filing says that a material portion of the leases charge above-market rates. Of the company’s lease obligations of $190.5 million last year, more than $64 million was for “underperforming stores.”

    This exacerbated the company’s financial problems. “Given the Company’s operational headwinds and financial position,” the filing says, “payment of lease obligations associated with non-performing leases has cause significant strains on the Company’s liquidity.” In other words, the sale-leaseback arrangement was draining the company of cash.

  • I’d never heard of Lukas. He’s apparently been a self-publishing tour de force for over a decade and has been writing for over three. I imagine he created this Kickstarter as a means of promotion and as a method of gauging interest before committing to writing this book.

    Running your own server is sisyphean in the face of the email cartel, as Carlos Fenollosa and Jamie Zawinski will tell you.

  • Hexbear & Lemmygrad & ProleWiki are the only reason I know these guys even exist.

  • You know who else was vegetarian?

  • I have to explain to Lemmitors over & over: where do you think your iPhones & other smartphones and laptops come from? What country has more high speed rail than all others combined? Which country has its own space station? The evidence is right in front of their noses.

  • If you go to the www link and confirm that you’re >=18, you can then replace the www with old and you should be good.

  • The imperial core is where I’m franchised, so imperialism is the primary contradiction for me.

  • We have no compassion and we ask no compassion from you. When our turn comes, we shall not make excuses for the terror.

  • This is why I sometimes put the item URLS in a text file as I go along, in case the cart goes poof.

  • It doesn’t sound like that’s the question that was posed, whether it is a democracy, though I’m only going by the graphic, and I don’t think Saudis consider their indentured foreign laborers to be people, racist fucks that they are, and I’m sure they weren’t included in the survey.

  • My understanding is that most Saudi citizens have it quite good, being bribed by superprofits and using non-citizen residents as practically slave labor.

  • Mood

    Jump
  • angery birb

  • Yes repeating happens in every base because every base has integers not evenly divisible by its base. Whether a fraction repeats is a particularity of which base is chosen to represent it.

  • Yeah 1/3 being periodic is just an artifact of using base 10, because 10 isn’t evenly divisible by 3. If you use say base 60 as the Babylonian did then the artifact vanishes.