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Someone in your office walks out every day with a laptop under his coat. He fences them down the street and keeps the money.
After he's discovered, how long should he keep his job? What if he's a really hard worker? Perhaps you give him a warning, but, when he's discovered stealing again a week from now, then what?
Bullying costs far more than laptop theft does.
The bully frightens away some of your best employees, because they can most easily find another place to work. He also silences the eager and the earnest, the people with great ideas who are now too intimidated to bother sharing them. His behavior has robbed your organization of the insight that could open so many doors in the future.
I define bullying as intentionally using power to cause physical or emotional distress with the purpose of dominating the other person. The bully works to marginalize people. In an organizational setting, the bully chooses not to engage in conversation or discussion, or to use legitimate authority or suasion, and depends instead on pressure in the moment to demean and disrespect someone else—by undermining not just their ideas, but their very presence and legitimacy.
The end to bullying starts with a question: does senior management see the cost? Do they understand that tolerating and excusing bullying behavior is precisely what permits it to flourish?
If so, the next steps are painful and difficult, but quite direct. Bullies can't work here.
If you don't have buy in on that, spend more time and passion and energy to get it. Not around a certain person or a certain action, but on the general irrevocable principle. An organization that is built on ideas and connection can't thrive when there's a bully in the room. If you're part of one that doesn't care about this, perhaps it's time to considering moving on.
Once you start to clean up the culture, will there be judgment calls and edge cases and a need for warnings and improvement plans? Of course. But just as laptop theft drops when our tolerance of it disappears, so does bullying. Most bullies aren't sociopaths, immune to correction. They are opportunists, using the tools that have often worked for them in the past.
It's a wrenching process for some organizations, but one that leads to few regrets. It's your chance to help a bully get his life straightened out too.
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Mish's Global Economic Trend Analysis |
Posted: 13 Nov 2013 04:23 PM PST Add Desert Hot Springs, CA to the list of California cities in dire straits due to poor management, union wages, and ridiculously unaffordable pension promises. Please consider Another U.S. city mulls bankruptcy due to soaring wages and pensions A resort town in California warned on Tuesday that it will run out of money by March due to burdensome salary and pension costs and could join other U.S. cities that have recently filed for bankruptcy protection.The "Only" Option It is ridiculous to hope Desert Hot Springs can avoid bankruptcy. Its fate is sealed for the second time. Bankruptcy is the only option. The choice is now or later. Now makes more sense. Just Deserts for CalPERS I long for the day that a judge rules pension costs are not sacrosanct. And that day is coming soon! I expect such a ruling in Detroit. And when it happens, it will open up a floodgate of cities willing to do the right thing, and the right thing is to force clawbacks in absurd pension promises. I had an original title to this post of "Screw CalPERS". That title was wrong. It is taxpayers who are being screwed, not overpaid, underworked, undeserving public union workers. 50% Clawbacks Clawbacks of 50% or more in union pension promises are not only sane, but "fair". Taxpayers should not have to foot the bill for union threats, coercion, bribery, and vote buying. It's that simple. A follow-up on the "fairness" aspect and how to achieve it, will be coming up shortly. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
Posted: 13 Nov 2013 11:42 AM PST People constantly ask me what it would take for me to abandon my stance that "hyperinflation is not going to happen in the US". My answer has always been "free money" (not credit), on a big enough scale. Note that QE causes huge economic distortions but it is not "free money". Free Money Proposal In Switzerland, enough signatures have been gathered to put a "free money" proposal on the ballot. To collect, all you have to do is breathe. Rich and poor alike would get the money. New York Times economic-writer Annie Lowrie discusses the idea in Switzerland's Proposal to Pay People for Being Alive This fall, a truck dumped eight million coins outside the Parliament building in Bern, one for every Swiss citizen. It was a publicity stunt for advocates of an audacious social policy that just might become reality in the tiny, rich country. Along with the coins, activists delivered 125,000 signatures — enough to trigger a Swiss public referendum, this time on providing a monthly income to every citizen, no strings attached.Giving Money Away is Not Libertarian I need to interrupt Lowrie right here, for further discussion. No one who can rightfully call themselves a Libertarian, can possibly support such an economically inane proposal. To give money away, it would have to be taken, by the government from someone (via taxes) to be distributed to someone else. Alternatively, money would be printed into existence causing inflation. Either way, it would not be "free". There is no such thing as "free money", and no libertarian would support increased taxes. Ramblings Continue The case from the right is one of expediency and efficacy. Let's say that Congress decided to provide a basic income through the tax code or by expanding the Social Security program. Such a system might work better and be fairer than the current patchwork of programs, including welfare, food stamps and housing vouchers. A single father with two jobs and two children would no longer have to worry about the hassle of visiting a bunch of offices to receive benefits. And giving him a single lump sum might help him use his federal dollars better. Housing vouchers have to be spent on housing, food stamps on food. Those dollars would be more valuable — both to the recipient and the economy at large — if they were fungible."Case From the Right"? Really? A stated above, the only way to give away money without causing massive inflation is to take it via taxation and redistribute it, something no true libertarian or conservative could ever propose. Does Lowrie know right from left? She goes on and on proving without a doubt she does not know right from left, or true conservatives from progressive liberal lunatics pretending to be conservatives. Even better, conservatives think, such a program could significantly reduce the size of our federal bureaucracy. It could take the place of welfare, food stamps, housing vouchers and hundreds of other programs, all at once: Hello, basic income; goodbye, H.U.D. Charles Murray of the conservative American Enterprise Institute has proposed a minimum income for just that reason — feed the poor, and starve the beast. "Give the money to the people," Murray wrote in his book "In Our Hands: A Plan to Replace the Welfare State." He suggested guaranteeing $10,000 a year to anyone meeting the following conditions: be American, be over 21, stay out of jail and — as he once quipped — "have a pulse."Dissing the Idea, then Finishing Wrong In a temporary bout of sanity, Lowrie states "There are strong arguments against minimum or basic incomes, too. Cost is one. Creating a massive disincentive to work is another." Her economic sanity was short lived. Lowrie goes on to say "But some experts said the effect might be smaller than you would think." As icing on the socialist redistribution cake, Lowrie concludes with "minimum incomes just might be stimmig for the United States too." Clearly Insane The proposal is clearly insane on many grounds. If printing money and sloshing it around ended poverty, Zimbabwe, Argentina (and lately Venezuela) would be the wealthiest nations on the planet. The only alternative to printing is raising taxes on the wealth producers as part of a socialist redistribution scheme. But even that cannot possibly work for three obvious reasons. Birthrate, Fraud, Illegal Immigration In one second flat it should not be hard to figure out what would happen if the US gave $10,000 a year to all US citizens [See addendum] The first thing that would happen is the birthrate in ghettos would soar. Many 16 year old females would have kids 5 years in a row, thereby collecting $50,000 a year. Legal and illegal entry into the US would soar. People would flock to the US from all over the world to have babies because under US law anyone born in the US is a US citizen. And what about fraud? Sheeesh. Fake birth certificates would be worth $10,000 each. Loss of Faith Hyperinflation the complete loss of faith in currency. It is caused by a political event (or series of them) that results in massive printing. The above proposal, in sufficient size, indexed to price inflation, would do it. For an historical country-by-country analysis of hyperinflation events please see Reader Questions On Hyperinflation; Would Printing $50 Trillion Tomorrow Do Anything?. For discussion of hyperinflation theory vs. practice, including an analysis of absurd calls for US hyperinflation, please see Hyperinflation Nonsense in Multiple Places. Current Hyperinflation Example For a point-by-point discussion of the ongoing hyperinflation in Venezuela and the politics that caused it, please see Venezuela's Hyperinflation Anatomy; Army Storms Caracas Electronics Stores; Total Economic Collapse Underway; Could This Happen in US? One Thing Political error is the root cause of every hyperinflation. Please click on the above links for discussion. The one thing that would get me to change my mind on hyperinflation is now actively promoted by economically illiterate writers at the New York Times. Should the US try such a scheme, in size, especially if indexed to price inflation, the result would be ever-escalating printing as the alleged cure for the political belief that "people do not have enough money to live on". No Change in My Hyperinflation Stance This post does not represent a change in stance by me. Here's the key point: Just because someone proposes something obviously stupid is not an indication it has any realistic chance of happening. I believe the odds are close to zero Congress would do such a thing, in sufficient size. Child tax credits are one of many examples of redistribution schemes of insufficient size. Assuming I am wrong about the political likelihood of such an event, I would certainly change my mind about hyperinflation chances, something I have always stated. Addendum: In Switzerland the proposal was for every person regardless of age.I missed the point in the US proposal that it was 21 and older, even though I quoted it as such. Regardless, everything else applies, and the proposal is absurd for all the other reasons stated. There is nothing conservative or libertarian about it. The idea that we can eliminate poverty by printing money and giving it away is economic lunacy. Those who espouse such silliness do not understand inflation, wealth, or money. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
Reader Explains Why Her Family of Four (with existing coverage) Opts Out of Obamacare Posted: 13 Nov 2013 08:29 AM PST In the email below, reader Stacie explains why she and her family of four, all healthy, opt out of Obamacare. Instead she is willing to pay the penalty and use cash-only healthcare services. Stacie's family had affordable coverage before. Now they don't have any coverage. Yes, this is yet another case of Obamashock! Stacie writes ... Hello Mish! Obamacare Severely Penalizes Healthy Lifestyles It was well understood, in advance, at least by Mish readers, that young, healthy individuals and families, would subsidize overweight, older, citizens with poor lifestyles. This is a prime "Obamashock!" case in point. Obamashock! Ongoing Recap
Anecdotes do not constitute "data". Unfortunately, I do not have hard counts of those like Stacie. Like you, I can only wonder how many readers are in Stacie's shoes. The only answer I can come up with is "too many". Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
Posted: 12 Nov 2013 10:55 PM PST Want to retire at age 58? With Full benefits? When Private sector workers do not qualify for full Social Security benefits until age 67? Who doesn't? Hey, no problem. Just work for the Chicago park district (or countless city police and fire departments). Retirement for Chicago Park District Employees, With Full Benefits: Age 58 Please consider the November 7th article Parks and Wrecks by the Illinois Policy Institute. The Illinois General Assembly today approved a pension bill that requires taxpayers to pay an additional $75 million into the Chicago Park District pension fund in addition to tripling the taxpayer contribution to the troubled pension fund. Reflections on Chicago's Second Triple-Notch Bond Downgrade in Six Months Also consider Chicago's triple-notch credit downgrade Pension costs are already unraveling the state's finances. Now it's the city of Chicago's turn.Reflections on Pension Plans in General Pensions are the #1 problem for cities and states. The Fed artificially suppressing interest rates makes matters worse. Pension plans heading into the crisis were underweight equities. Now, because bond yields in general have collapsed, pension plans are likely overweight stocks, hoping to catch up at the worst possible time. Even if the above assumption is false, and pension plans are now weighted normally, how the hell can plans meet 7.5% to 8.0% return assumptions with 10-year bonds yielding 2.75%? The answer is simple: It won't happen. Pension plans attempting to meet unreasonable expectations by leveraging into equities now will be hammered in due time. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
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Amazing Facts About Fish Fingers [Infographic] Posted: 13 Nov 2013 02:37 PM PST Did you know that 1 in 5 kids think that fish fingers are made from chicken? Here's an infographic showing everything you ever wanted (and needed) to know about fish fingers! Click on Image to Enlarge. Amazing Facts About Fish Fishfingers by Fishfinger |
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