January 14, 2015
Today (January 14, 2015), JPMorgan Chase announced weaker than expected 4th quarter 2014 earnings.
The reaction in the Market was quick and harsh.
The price of JPM stock slid down minus 3.45% today, wiping out some $7.63 Billion in shareholder value, overnight!
Analysts, prognosticators and pundits weighed in on various aspects of weakness in the franchise and potential management failures.
Meanwhile, seemingly oblivious to our real world, the folks in Corporate Responsibility at JPMorgan Chase released a report on declining summer jobs for youth, perhaps as a means to soften or divert attention away from the stock price and management failures?
Are they kidding?
The folks they cite in this report who are disparately impacted — “low-income youth and young people of color face diminished opportunities to gain work experience and skills, limiting potential for economic advancement” are the very same young people who are most likely to come to the table with blemishes, bruises and with clear and obvious symptoms of “the achievement gap.”
I think the folks at JPMorgan Chase must have abandoned the concept of using available research and institutional knowledge to help impact solutions in local communities to pursue a much higher-level approach which relies on a premise that is based on “research grants” paid to Aspen Institute and Brookings Institution which are intended to help discover hidden nuggets that otherwise might be overlooked.
If you read the footnotes to this particular report (http://www.jpmorganchase.com/corporate/Corporate-Responsibility/document/54887-jpmc-summeryouth-aw2.pdf), you will find references to 2 basic sources: (1) The Brookings Institution, and (2) Northeastern University.
While no one could legitimately doubt the likely veracity of these sources, would this approach pass the smell test at any legitimate academic institution?
Seems that when a major institution is stepping up to be recognized as a Thought Leader, they ought to at least use decent quality paint to cover over the façade they are trying to use as their primary lead.
The Wizard of Oz would have it no other way!
January 9, 2015
The vast majority of police and other public safety officers in the U.S. are on the job for the right reasons, and they are indispensable components of why our society is as strong and safe as it is.
Take a deep look at an organization like NYPD which has some 35,000 active officers.
If 99.5% of the uniformed force consistently are doing the right things, that implies that the 0.5% who may be off track amounts to 175 individuals — similar to the size of many small town or small city forces in total!
I think Commissioner Bratton summed it up very nicely this week when he said that the majority of uniformed police officers at the funeral of slain officer Wenjian Liu behaved professionally and appropriately.
He further said that ‘he was disappointed in the (small number of) officers who did not honor his request to refrain from protesting at Liu’s funeral on Sunday.’
This small contingent of “Men in Blue” who seem to be unwilling or unable to control their emotions and do the right thing continue to wear the Uniform and carry a lethal weapon.
They blatantly and publically disrespect the chain of command in the organization they are part of — very similar to watching unsupervised 3rd grade boys who are let loose on the playground.
Those individuals who are not willing or not able to deal with their frustrations in a rational adult manner represent a potential danger to society, and they should go on unpaid leave and surrender their weapons until they have successfully completed some intensive psychological evaluation(s) prior to returning to active duty.