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ChetCast
Episode 216: Cape May Zoo
November 21,2021The cousins got ahead of us, but Lucy still has lots to share about our visit to the zoo.
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November 20,2021
According to diners who saw the accident, the man locked eyes with his server and sat in stoic silence as mountains of cheese piled all around him.
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November 20,2021
Made it to the ocean.
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How the Great Have Fallen
November 19,2021Southwest Airlines, USAA, and CarMax used to be a few of my corporate heroes. Companies that I could rely on to do the right thing, to put their customers first, and deliver outstanding experience each time. The past decade has been hard on all three.
Southwest started faltering when they merged with AirTran. A whole new crop of employees suddenly changed uniforms, but they didn’t change cultures. Instead of warm, friendly employees at every encounter, Southwest started to look and feel a lot more like their cattle-call competitors.
USAA needed to grow their membership, so they opened it up to anyone who had served honorably. A massive new pool of members rushed in the door and USAA had to staff up quickly. Phone hold times extended, employees grew more corporate, and the overachievers disappeared into thin air.
CarMax build a brand on car buying the way it should be. In a slimy business, they stood out. Their cars were better than average, cleaner than average, and backed up by a no-questions asked warranty. But they could only build so many superstores, and many smaller markets would never support that volume. So, they came up with a new small-market format store and spread far and wide. New employees missed the memo, and now they deliver overpriced cars with an underwhelming experience.
The thread that ties together these three stories is growth at the cost of fundamentals. They needed to grow, and they did, but they forgot to bring their new team members into the culture. Any bozo can run an airline, issue insurance, or sell used cars. It takes a truly great company to turn customers into raving fans. And when the great fall, it’s time for the market to go looking for new companies that act like the greats used to.
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November 19,2021
A Popular Tax Trick for Savers, the Mega ‘Back Door’ Roth IRA, Is Eliminated in House Bill - WSJ
The IRA measures will raise tax revenue to help pay for items such as universal prekindergarten and lower prescription drug prices.
What an accounting trick!
They eliminate the tax payments the government receives today from a 35 year old couple making backdoor Roth IRA in exchange for taxes paid at withdrawal on a traditional IRA at least 25 years away, but book the assumed additional tax revenue today.
This is Enron-style accounting.
Of course, many models suggest that these high earners that Congress is targeting would be better off using a pre-tax strategy during peak earnings years anyways. The assumptions made by this Congress are dubious, to say the least.
And I’d be remiss if I didn’t point out that the Democratic leadership looking to kill the Backdoor Roth today are the same ones who codified it into law when they held power in 2010.
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November 18,2021
Gorgeous fall colors.
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November 18,2021
A stop back in time.
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November 17,2021
Biden Asks FTC to Examine Oil, Gas Companies’ Role in High Gasoline Prices - WSJ
In a Wednesday letter to FTC Chair Lina Khan, Mr. Biden alleged that there is “mounting evidence of anti-consumer behavior by oil-and-gas companies.”
C’mon man!
Keystone XL, Green New Deal, clean energy tax credits bonanza, the new Dept. of Energy Green venture capital fund, constantly bashing oil and gas, suspending permitting for drilling on Federal lands….
The anti-consumer behavior is being perpetrated by the Biden Administration.
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November 17,2021
Worth the drive.
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ChetCast
Episode 215: Fall Festival
November 16,2021We had quite an adventure this weekend and the kids talk all about it.
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November 16,2021
Glasgow’s Climate of Unreality - WSJ Opinion
“If [Mr. Biden] were asking them to boost their production over five years, I’d quit,” Mr. Kerry told reporters, by way of trying to square this circle. “But he’s not. He’s asking them to boost production in this immediate moment.” Lord, make us green, but not yet.
Great line.
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November 15,2021
Steve Bannon Surrenders to FBI to Face Contempt Charges - WSJ
The indictment marks the first such criminal case for the Justice Department in decades. Attorney General Merrick Garland has said it underscored the agency’s commitment to pursuing equal justice regardless of politics.
Does it, tho?
I’m no Bannon fan, but this does not have the optics of Justice.
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November 15,2021
Apple Imposing Strict Terms on U.S. States for Digital IDs in Wallet App - MacRumors
The company requires states to independently maintain the systems used to issue and service credentials, hire project managers to respond to Apple’s inquiries, verify IDs, perform quality testing to ensure that digital IDs meet Apple’s requirements, “prominently” market the feature, “proactively” offer digital IDs whenever a citizen gets a new or replacement card, and encourage state and federal government agencies to widely adopt digital IDs.
I’m interested in this idea, having my license on my phone, but I hope my state looks at these terms and tells Apple to pound sand. Completely inappropriate for a private technology to dictate terms to a governmental agency over a program that benefits the private company’s bottomline, at the full expense of the taxpayer.
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Catholic Husband
November 15,2021Scripture Before Phone - Catholic Husband
Morning is a beautiful time, one that should be enjoyed slowly with good exercise, good coffee, and quiet time spent in reflection. Nothing spoils a morning like 30 minutes of swiping and scrolling.
➕
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November 14,2021
Even St. Joseph needs a few friends.
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November 13,2021
Just as with immigration , Afghanistan , and unemployment , Biden and his allies want us to think that he is nothing but a bystander. It can never be his fault or the fault of the policies he has pursued and implemented. The world is simply out of his control. It’s OPEC that isn’t boosting production, not Biden’s failed energy policies. It’s those oh-so-complicated supply chains that are to blame, not Biden’s COVID-19 stimulus and unemployment policies.
It’s a bizarre argument coming from the leader of the free world. Especially when many of these issues are demonstrably a result of his decisions.
- November 13,2021
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November 12,2021
Prosecutors Charge Trump Adviser Steve Bannon for Defying Jan. 6 Panel Subpoena - WSJ
Attorney General Merrick Garland said in a statement. “Today’s charges reflect the department’s steadfast commitment to these principles.”
That pardon really got to them, huh?
Many have been referred to DOJ on the same charges, Lois Learner, Eric Holder. None have been indicted. I’m not saying that Bannon is right, just that justice should be equally administered.
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November 11,2021
LeBron was then immediately knocked over by a slight gust of wind, causing him to crumple like a blade of grass.
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Reading
Book Review: The Common Rule 📚
November 11,2021The algorithm served this book up to me. I appreciate cover art, but this one is next-level good. It was going to be my summer read at the lake, but the timetable slipped.
There’s something about books that reach out and grab you right where you are. It came to me at a time when I was questioning my daily habits, looking to bring order and structure to my days. It’s one of the best books I’ve read in many years.
Justin Earley is an attorney living in Richmond. He’s Christian, and his theology is congruent with Catholicism, which helped me really connect to the spiritual dimension that he weaved into the book.
Earley and his wife served in China as missionaries in their early years of marriage. With that mission complete, he came home to attend law school. He paints a vivid and bleak picture of his life after those stressful years. Unable to sleep, he’d medicate with alcohol and sleeping pills. Eventually, he reached his breaking point and sought a new script for his life.
Drawing on his faith, and seeking to bring order to the disorder, he stumbled upon the Rule. A Rule is a governance document developed by Catholic religious communities. It structures the community, shares principles, and organizes the work and life of the community to the greater glory of God. Earley ended up developing a Rule for the modern laity, which he dubbed The Common Rule.
The Rule consists of eight habits, four to be done daily and four to be practiced weekly. They are brilliant in their simplicity, but there’s something else here. Productivity theories focus on optimizing to cram as much as possible into the day. Earley takes a more wholistic track. He recognizes a dynamic of the human person that productivity czars often ignore. Earley weaves a rule that focuses first on the spiritual dimension, and works its way out.
The book remarkable, and the theological tie-ins are refreshing. Earley frequently presents very relatable life situations, and always brings it back to a Scriptural or Theological tenant. He presents a clear vision that’s as practical as it is workable. You can pick up one habit, one at a time, or the whole Rule.
I can’t say enough good things about this book.
Would I recommend: YES
ISBN: 978-0830845606
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November 11,2021
What Home-Schoolers Are Doing Right - WSJ Opinion
We shouldn’t accept a public education system that offers academic achievement at the expense of a flourishing life.
Education is not an end unto itself; the objective is developing well-rounded people.
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November 11,2021
To all who served, and the families who stood behind them, thank you.
🇺🇸
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November 11,2021
How Much Do Electric Vehicles Cost to ‘Fill Up’ Compared With Buying Gasoline? - WSJ
In our look at fuel only, the driver of a Mach-E saves 4 cents to 9 cents per mile.
I’ve waited for this information. A great article that takes gas vs. electricity comparison head on.
On the high end of this average, EV owners would save $1,350 a year, after paying nearly double on the sticker price, before incentives and before installing a home charger.
Of course, I can sign up for fuel station programs and save $.05 a gallon on gas and wipe out any fuel savings that electric charging offers.
This isn’t a compelling value-proposition, which explains all of the subsidies. The Market hasn’t embraced it outside of niche pockets, so the government creates a distortion. The Transportation Department is going to spend billions building out charger networks, and yet it’s never had to build or own a single gas station.
The best technology should compete and win, and long-term that may be EVs. For now, the government picks winner and losers which is a surefire way to waste taxpayer dollars.
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November 10,2021
I missed the narrow window to see No Time to Die in theaters. I can now rent and stream the movie for $20 at home. The problem is it’s 2:43 long. Geez!
🍿
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ChetCast
Episode 214: Fall Backyard Play
November 10,2021I catch up with the big kids playing outside during nap time.