Category: Activities (Page 17 of 32)

Activities are gatherings that occur on a regular schedule, usually weekly, to enjoy a specific pastime.

Money Matters, “The Risks and Opportunities of Climate Change to Investors” , March 18, 2020

This topic was tabled.
There have been numerous articles in the business press about the impact of climate change on business and investing.    Lots of talk about CC at Davos.
It is more complicated than buy green, sell brown.  Think
  • ratings agencies
  • attracting young employees
  • consumer boycotts
  • government regulations
  • investor divestitures
  • carbon taxes
  • real estate
  • muni bonds
  • insurance
  • PSGE was bankrupted by the fires.  Unimaginable a couple of years ago.
  • I was in Council Bluffs last fall.  The spring floods never receded.   Farmers couldn’t plant, hence could pay their taxes.  Yet the municipalities have the fixed costs of schools, police, etc.
  • Think of the cost of rebuilding roads, airports, ports.  All the NY airports are on low ground.
  • Blackrock’s  & others new ESG funds.
It isn’t all defensive – there are opportunities.

No matter what you believe about climate change, it will impact your portfolio.

Here is a link to an academic paper from NYU.  Sunil will explain the equation on p6.

Book Club: The Russian Job by Douglas Smith, May 13, 2020, noon

THE RUSSIAN JOB by Douglas Smith |

Kirkus Reviews

The hair-raising account of a great humanitarian act in which the United States provided vital assistance to the Soviet Union. Historian and translator Smith (Rasputin: Faith, Power, and the Twilight of the Romanovs, 2016) reminds readers that World War I and civil war devastated Russian agriculture because the fighting armies lived off the land. By 1920, the Bolsheviks had largely won, but the government continued to forcibly extract grain from the peasants. Then the rains stopped. At first, Lenin “welcomed the famine, since he believed it would destroy the people’s faith in God and the tsar. Revolution, not charity, would save the peasants, he said.” By the summer, faced with mass starvation and violence, he changed his mind. Many philanthropists and international charities  responded to pleas for help, but only one organization had the immense resources required: the American Relief Administration, led by Herbert Hoover, who had already impressed the world with his relief of mass starvation in Belgium and northern France during WWI and then again in Europe after the armistice. A successful businessman, Hoover employed the same talents to organize a vast enterprise led by loyal underlings who oversaw the distribution chain, from docks to warehouses to transportation to the soup kitchens. A few Soviet leaders were congenial, but most believed that the ARA was a nefarious capitalist plot. Secret police harassed the Americans and arrested Russian employees but sometimes, unpredictably, helped by cutting through red tape. Local officials were usually grateful. Infrastructure, housing, sanitation, and disease were terrible, far worse than in Europe. In an often agonizing but necessary book, the author includes letters and anecdotes by participants as well as often horrific photographs, all of which tell a grim story. Starving people do not overthrow governments, so it’s unlikely American aid saved the Soviet Union, but it was a magnificent achievement—and Smith adeptly navigates all elements of the story. Except for Hoover biographers, American scholars pay little attention to this episode; it quickly vanished from Russian history. Although the catastrophic Russian famine and American relief efforts are not completely forgotten,
this expert account deserves a large readership.

 

Current Affairs, Talkin’ Trash, February 20, 2020

8:30am, Lilian Gade Room at the DCA.

Cliff van Voorhees and Carolyn Bayne will discuss the challenges of recycling in Darien.

Introductory slide show.

DMA Recycling

Examples of what should and should not be in single stream recycling:

Click below to see what’s allowed and not allowed in Darien Single Stream.  Just because it isn’t listed here, doesn’t mean it can’t be recycled – there are separate areas for paint, lightbulbs, batteries, electronics, tires, appliances, food waste, metal, large plastic, yard waste, mattresses, clothes, corrugated, plastic bags, construction debris, …  And the Swap Shop is a way to recycle usable stuff.  (Or gain more clutter you don’t really want.)   You can also pick up shredded mulch, leaf compost, and sometimes food compost.

2019_Darien_Single_Stream_Recycling_(Full_List)

 

A tour of City Carting Recycling Center. (hover over picture to stop scrolling)

Commercial Haulers

The haulers separate trash from SSR, even though many people seem to think they do not. I believe they do for two main reasons:

  1. it’s the law and their licenses could be revoked if they are found in violation;
  2. Darien charges haulers to tip MSW but not SSR.  Free tipping of SSR is an incentive to separate – and recycle – SSR. We are one of the few remaining municipalities that continues to get paid for SSR, but that could change when our contract is renegotiated.

It’s also worth noting that the haulers are only required to recycle what goes in the blue bin (ie our SSR list); many of the other items we recycle (ie batteries, light bulbs, e-waste, paint, etc.) must be brought to our facility.  We ALWAYS recommend that residents who employ a hauler also get a dump sticker so that they can recycle these additional materials; their permits are priced much lower to account for the fact that they are primarily bringing recyclables and not regular household trash.  Note that Seniors can get a free permit.

 

CT’s problem with waste from “Hartford Current:”
https://www.courant.com/news/connecticut/hc-news-ct-outofstate-trash-disposal-20191228-hprk52k2hjbzlj7xz2lztug74q-story.html

 

Economics and Science of Recycling from “Popular Mechanics” (note date is 2008 before China’s ban on imports):

https://www.popularmechanics.com/science/environment/a3752/4291566/

 

Problems with Recycling in Asia from the “Financial Times:”
https://www.ft.com/content/360e2524-d71a-11e8-a854-33d6f82e62f8

 

Micro-plastics and their effects on humans from “The Conversation:”
https://theconversation.com/we-are-guinea-pigs-in-a-worldwide-experiment-on-microplastics-97514

 

Recycling facts from Recycle Across America:
https://www.recycleacrossamerica.org/recycling-facts

https://www.bloomberg.com/graphics/2020-world-plastic-waste/?fbclid=IwAR0OkLn4IffTQ-O4dN9ItuQ73fBgdCSoyxg_Fi6v1ZG6Vfy751y3cR-g32g

CT’s Policies from the CT Mirror.
https://ctmirror.org/2020/02/17/is-connecticuts-outdated-recycling-system-in-line-for-an-overhaul/?utm_source=Connecticut+Mirror+Mailing+List&utm_campaign=b6d6010e90-DAILY_BRIEFING_MORNING&utm_medium=email&utm_term=0_571d22f8e4-b6d6010e90-68155097

Current Affairs- Business Roundtable: Purpose of a Corporation, March 19, 2020, 11:00 EDT

DMA Current Affairs.  The Purpose of the Corporation hosted by Bob Baker
We have licensed audio/video conferencing software and are going to (try to) hold the Current Affairs meeting over the internet.
As always, you should review the material in advance on the website:
You should keep the post open to follow Bob’s opening remarks.
The meeting will start at 11:00 EDT.
We’ve had some issues with connectivity.  It could that the company’s capacity is overwhelmed – many, many people are going on-line or it could be idiosyncrasies with a person’s PC.  (There is no chance it is the skill of the user.)
For simple dial in use the following numbers from any phone.
United States: +1 (872) 240-3412
Access Code: 132-263-437
For the intrepid you can try joining on-line.  The meeting will open about 10:30.  We won’t have time to troubleshoot so if there are technical problems, use the dial in number.

Please join my meeting from your computer, tablet or smartphone.
https://www.gotomeet.me/DMAdarien/currentaffairs

New to GoToMeeting? Get the app now and be ready when your first meeting starts: https://global.gotomeeting.com/install/132263437

Business Roundtable—Purpose of a Corporation

Pre- August 2019 Maximize Shareholder Value

Corporate Responsibility per Milton Friedman

1970 essay- Maximize Returns to Shareholder

Friedman’s thesis: Corporations are not to make contributions for

“social causes”, shareholders can choose what to give.

Further- Corporations are to obey all laws and regulations.

If corporations make “contributions”, the directors must

conclude such donations create good will and enhance sales.

Current example: Orvis gives 5% of pretax profits for “environmental

causes”. (Could they give 15%?

 

Comments from Harvard Law School Forum
Re: Business Roundtable Statement on Corporate Mission

Corporate Directors have a fiduciary duty to act in shareholder interest
Thus, decisions not in shareholder interest are illegal

Actions taken by directors will be presumed to be in shareholder interest or they would not be taken.
Directors must adhere to the law so that new Legislative mandates may promote or presume to benefit other stakeholders, but at a cost to shareholders.

Overall question:  To what extent do we desire the government to impose
rules that will decrease business profits in order to strive for other benefits

 

What does the Business Roundtable expect or hope to change with revised statement of purpose?

Former “purpose”: “Maximize shareholder Value”

New “purpose”: “Act to benefit all stakeholders”

Stakeholders: customers, employees, suppliers, communities, and shareholders

Possible intentions:

Change corporate reporting on selective topics?

Motivate investments into areas not directly in shareholder interest?

Motivate shareholder resolutions on new corporate action

Bring about new government rules on business actions

Potential areas of Government mandates:  ESG

(Environment, Social, Government)

Action regarding global warming;

Other environment improvement measures

Reduction of income inequality

Increase diversity in management personnel

Impose unnecessary costs for named investments

Establish more “days off” for employees

 

 

 

 

From the WSJ. Financial Advisers Turn to ESG, Warily – WSJ

IEA warns oil companies doing nothing on emissions is not an option
https://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=XOM&storyid=202001191929RTRSNEWSCOMBINED_KBN1ZJ005-OUSBS_1

Larry Fink’s Latest Sermon

Capitalism, Alone’ Review: Inclined Toward Inequality
Capitalism Alone

Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’

https://lucidmanager.org/milton-friedman-corporate-social-responsibility/

https://corpgov.law.harvard.edu/2019/09/26/analysis-of-the-business-roundtable-statement/

https://www.coursehero.com/file/8478280/Purpose-of-the-Corporation/

The Davos Crowd Embraces Big Global Government – WSJ

The ‘Stakeholders’ vs. the People – WSJ

Bloomberg’s Business Nanny – WSJ

Money Matters: Private Equity, Feb 19, 2020, 8:30

State of the Markets: The Rise of the Private Equity Industry

Bruce Lynn: Discussion Leader

About Bruce

 

According to a recent Financial Times article (May 2019) the number of companies owned by private equity firms (approx. 8,000) exceeds the number of public owned companies by about 2:1. Even more remarkable is that this growth has occurred in a relatively short period of time, the last 20 years.

This trend has not gone unnoticed by pension funds or other “accredited investors” that have been increasing their investments in well known (KKR, Blackstone, Carlye Group, etc.) and less well known firms among the 4,000 in the industry. According to a recent E & Y report investors have placed approx. 10% of their assets in the PE “asset class” which manages about 6 trillion of assets. Note: public companies are valued at 30trillion

As this growth has occurred, the recent WeWork debacle (i.e. PE owned company valued at 48BN fails to complete IPO even at a 9BN valuation) has brought into focus the ideas about “performance” or “ valuation” of private companies  versus their more well-known public company “cousins”.

Join your peers at DMA to learn more about staying up to date on this industry, its risks and potential rewards

 

Readings:

Pitchbook_Ex-unicorn stocks are tanking in a post-WeWork world

Pitchbook_3Q_2019_US_PE_Breakdown

McKinsey_Private equity-markets-come-of-age-Private-Markets-Review-2019

ey-Private Equity_a-new-equilibrium-report

 

MONEY MATTERS: Steve Ronan – Helping Companies Grow and Endure,Jan 15, 2020, 8:45-9:45 at the DCA,  

Steve Ronan of Citrin Cooperman will be our guest speaker.  

 

https://www.linkedin.com/in/steveronan/

Steve is an expert at 1 de-leveraging (improving cash flow) ; 2 operational efficiency; 3 automating and cross-training. He will share some client success stories. It should be a very interesting program.
Strategic planning: visioning, goal-setting, competitive analysis, strategy execution
– Growth: growth planning, sales improvement, marketing advisory
– Technology: BI and analytics, ERP, CRM, EPM, custom development strategy, selection, and implementation
– M&A: due diligence, integration, cost reduction, shared services
– Talent strategies: change management, talent development, hiring and retention, HR operations

The Sudden Sea by Scotti, The Great Hurricane of 1938. April 8, 2020, 12:00

The Sudden Sea

The Great Hurricane of 1938

Mystery writer Scotti (The Hammer’s Eye, 1988, etc.) applies her suspense-building skills to the story of a murderous storm that capped a punishing decade.

It’s hard to go wrong with the raw material provided by the Great Hurricane of 1938. The narrative follows the storm as it made landfall in Florida, pushed up the coast, and raced from Cape Hatteras to Long Island in a mere seven hours. Where appropriate, Scotti adds brief background material on the nature of hurricanes, the quality of weather forecasting at the time, and the histories of the towns hardest hit, particularly in Rhode Island; she also compares the 1938 storm to others in the past. But she saves her most powerful writing for the hurricane itself, describing the storm watch and the havoc wrought when it reached land with the help of a wide sampling of firsthand accounts. “The scene around us in the attic was unbelievable,” recalls a woman who was ten at the time. “The waves, at the level of the attic floor, beat unceasingly against the house, which trembled and shook.” Scotti matches the wild images of the eyewitness accounts with her own flair for descriptive narrative: “The ocean banged on doors and windows . . . then it went upstairs into the bedrooms where families sought refuge, and chased them higher yet, into third floors and attics, onto rooftops, until there was no place to go but into the sea.” Almost 700 people died, 433 of them in Rhode Island, where the storm surge buried Providence under 12 feet of water and where Scotti concentrates her story. With power and phone lines down, it was days before people understood the full extent of the devastation, which along the shoreline in particular was complete: “What they eye saw, the mind could not process and the heart refused to accept.”

A darkly intense portrait. (16 pp. b&w photos, not seen, 4 maps)

Kirkus

Midnight in Chernobyl by Adam Higginbotham, March 11, 2020, 10:00

Midnight in Chernobyl: The untold story of the world’s greatest nuclear disaster

by Adam Higginbotham

The full story of the Chernobyl catastrophe.

In April 1986, a massive accident destroyed a reactor at the Chernobyl Atomic Energy Station near the town of Pripyat, now a ghost-town tourist destination, in Ukraine. The disaster sent a radioactive cloud across the Soviet Union and Europe, triggered pandemonium and coverups, involved thousands of cleanup workers, and played out at a cost of $128 billion against the secrecy and paranoia of Soviet life at the time. In this vivid and exhaustive account, Higginbotham (A Thousand Pounds of Dynamite, 2014), a contributor to the New Yorker, Wired, GQ, and other publications, masterfully re-creates the emotions, intrigue, and denials and disbelief of Communist Party officials, workers, engineers, and others at every stage. He takes readers directly to the scene: the radioactive blaze, the delayed evacuation of residents from the apartment buildings in “workers’ paradise” Pripyat, the treatment of the injured, and the subsequent investigation and “show trial” of scapegoats in a tragedy caused by both reactor failings and operator errors. Drawing on interviews, reports, and once-classified archives, the author shows how the crash program of Soviet reactor building involved design defects, shoddy workmanship, and safety flaws—but made “sanctified icons” of arrogant nuclear scientists. Higginbotham offers incisive snapshots of those caught up in the nightmare, including politicians ignorant of nuclear physics, scientists “paralyzed by indecision,” doctors treating radiation sickness, and refugees shunned by countrymen. We experience the “bewildered stupor” of the self-assured power plant director, who asked repeatedly, “What happened? What happened?” and watch incredulously as uninformed citizens hold a parade under a radioactive cloud in Kiev. At every turn, Higginbotham unveils revealing aspects of Communist life, from the lack of proscribed photocopiers to make maps for responders to the threats (shooting, relief of Party card) for failure to obey orders.

Written with authority, this superb book reads like a classic disaster story and reveals a Soviet empire on the brink.

Kirkus – one of 2019 best books

 

Tom Igoe’s notes: Notes on Midnight in Chernobyl

 

Harris Hester and Tom Igoe have scheduled a virtual meeting for Wednesday, March 18 at 10:00 AM to discuss Midnight in Chernobyl. Rick Agresta is setting up an audio/video link using Zoom. All he needs is your email, which if you replied to me in the last few days, you should be on the list below. If you are not on the list and would like to participate please email him directly – richard.agresta@gmail.com.

 

Hike Greenwich Point Park, Thursday, Dec. 12, 2022, 10:30

“HIKING” GREENWICH POINT PARK

6 TOD’S DRIFTWAY

OLD GREENWICH

      

Greenwich Point is a beautiful peninsula surrounded by Long Island Sound and Greenwich Cove. The walking trails are flat and well maintained which is a bonus because the scenery is just spectacular. For half of the hike the skyline of New York is clearly visible and the Greenwich shoreline and magnificent water views complete the circuit. This has always been our most popular hike of about 2.5 miles which should take us no more than one and a half to two hours. An optional lunch will follow at Applausi Osteria Toscana at 199 Sound beach Avenue in Old Greenwich, a hit with past hikers.

 

DIRECTIONS: GOOGLE GREENWICH POINT 

 

Take Exit 5 off southbound I-95 and make a sharp right onto US 1 north. At the first traffic light make a right onto Sound Beach Avenue. Follow Sound Beach through Old Greenwich for 1.8 miles and turn right onto Shore Road at the T intersection. Shore Road becomes Tods Driftway and enters the park past the guard house. Park in the first lot on the right where we will meet at 10:30. Spouses and guests are invited and dogs on a leash are permitted in the park after December 1.

 

ATTIRE; It will likely be quite windy and cool on this exposed sprit of land so layer up! 

 

CONTACT: David McCollum

Write up:

The US Postal Service has nothing on the DMA hikers—“neither rain nor snow…” oh, wait a minute, the day did not turn out badly after all! The overnight snow was still evident at 10:30 in the morning but not a footing issue and the sun came out later on the hike. A good size group of 17 including three spouses walked just short of 3 miles in an hour and a half around the spectacular property. It’s easy to see why Greenwich keeps it pretty much to residents for most of the year!

About half the group stayed on for a delicious lunch at the Beach House Café in Old Greenwich. 

Again this hike, as others, give us DMAers a chance to walk and talk in some really nice places!

Next hike—Sherwood Island Park in Westport Thursday, January 12 at 10:00 AM

Dave McCollum

Bob Plunkett

Book Club: Thank You for Being Late by Thomas Friedman, January 8, 2020

KIRKUS REVIEW

The celebrated New York Times columnist diagnoses this unprecedented historical moment and suggests strategies for “resilience and propulsion” that will help us adapt.

“Are things just getting too damned fast?” Friedman (Hot, Flat, and Crowded: Why We Need a Green Revolution—and How It Can Renew America, 2008, etc.) cites 2007 as the year we reached a technological inflection point. Combined with increasingly fast-paced globalization (financial goods and services, information, ideas, innovation) and the subsequent speedy shocks to our planet’s natural system (climate change, biodiversity loss, deforestation, geochemical flows), we’ve entered an “age of accelerations” that promises to transform “almost every aspect of modern life.” The three-time Pulitzer winner puts his familiar methodology—extensive travel, thorough reporting, interviews with the high-placed movers and shakers, conversations with the lowly moved and shaken—to especially good use here, beginning with a wonderfully Friedman-esque encounter with a parking attendant during which he explains the philosophy and technique underlying his columns and books. The author closes with a return to his Minnesota hometown to reconnect with and explore some effective habits of democratic citizenship. In between, he discusses topics as varied as how garbage cans got smart, how the exponential growth in computational power has resulted in a “supernova” of creative energy, how the computer Watson won Jeopardy, and how, without owning a single property, Airbnb rents out more rooms than all the major hotel chains combined. To meet these and other dizzying accelerations, Friedman advises developing a “dynamic stability,” and he prescribes nothing less than a redesign of our workplaces, politics, geopolitics, ethics, and communities. Drawing lessons from Mother Nature about adaptability, sustainability, and interdependence, he never underestimates the challenges ahead. However, he’s optimistic about our chances as he seeks out these strategies in action, ranging from how AT&T trains its workers to how Tunisia survived the Arab Spring to how chickens can alleviate African poverty.

Required reading for a generation that’s “going to be asked to dance in a hurricane.”

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