Tag Archives: Financial Times

Government? Censorship?

We see it, we ignore it and others remain in denial. We are censored almost every day and we remain unaware. You see, the issue is not advocated as censorship. It is presented as filtered news, and it is not the same. As we looked Yesterday into the events surrounding Evgeny Lebedev, we see people like Jeremy Wright hiding behind “may have an effect on the Evening Standard and the Independent’s news agendas“, yet to what degree and in what direction, that part was not given, was it? In addition we were introduced to Nicky Morgan and the fact that this is now on her plate. Yet the issue of censorship is still here.

Bloomberg gave us: ‘Saudi Oil Plant Attacked by Drones‘ (at https://www.bloomberg.com/news/articles/2019-08-17/saudi-oil-plant-attacked-by-drones-but-production-unaffected) 11 hours ago. We also get: “Yemen’s Houthi rebel leader Abdul Malik al-Houthi claimed responsibility for the attack in a televised speech which was aired via the rebel-held Saba news agency. The Houthi leader said the group launched the assault on the oil and gas facilities with 10 drones. This was done to deliver an “important message” to the members of the Saudi-led coalition in Yemen, he said” yet no one is giving any explanation how Yemeni Houthi fighters got access to high end drones. 10 drones represent a significant investment, the Houthi forces have neither the funds nor infrastructure to acquire or built them, yet they are delivered, where from?

An attack that might be seen as a terrorist attack and the exposure is close to nil. We get the news from Arab News, from Al Jazeera. Yet the event that happened 11 hours ago, is still not covered by the BBC. They limited the Middle Eat page to the US Warrant to an Iranian oil tanker, then the news on ‘Rashida Tlaib rejects Israel’s offer of ‘humanitarian’ visit‘, which is a day old, the rest is 2 days old, or even older. That is the BBC now! We do see some news from Reuters and Haaretz, yet nothing from the other UK papers. Is that not weird? Is it so weird that Saudi Arabia wants to see more on the attacks on them? The UK is facing massive censorship and has been under censor’s scrutiny, yet the UK remains silent.

We see a little more when we face Al Jazeera who gives us “A Houthi military spokesman said earlier on Saturday that the group targeted the Shaybah oil field with 10 drones in what he said was the “biggest attack in the depths” of the kingdom, the world’s top oil exporter” in the article (at https://www.aljazeera.com/news/middleeast/2019/08/drone-attack-yemen-rebels-sparks-fire-saudi-oil-field-190817132916661.html). The other non-given issue is that the Shaybah facility is really close to the UAE borders. A lot of issues remain, but the media to a much larger extent has decided to silence the news, they have decided to be Anti-Saudi Arabia. The fact that Houthi terrorist forces are sending drones into Saudi Arabia, drones that they cannot build and drones that require hardware that they do not have, cannot create and optionally cannot operate is a much larger issue, but the UK media remains silent on it. How weird is that? So here we see a direct first part where it makes perfect sense to be in a stage where they have an invested interest in newspapers that might now give voice to what is going on. If the UK really wanted an independent press, the people in the UK would have been given the complete story on Houthi forces and the exposure of Iranian funding would be out in the open, that is not the case and we should all wonder why that is happening. Oh, and I understand that there is more news in the world, I understand that there is only so much on what an journalist can achieve, yet a middle eastern section on the BBC with two articles from the last TWO days and the rest is older is a little too weird for words. The fact that this was an attack on Aramco with the linked fact that we see loads on Aramco, but the entire mess of the attack (and lack of results from the attack) is not shown in the Financial Times, or the Guardian, who was willing to report only a little under 6 days ago ‘Saudi Aramco ready for record $2tn IPO after first-half results‘ gives rise to censorship and one sided reporting. So when exactly did we find that acceptable from any independent news force? The numbers and the events do not add up.

Even the Deutsche Welle gives us (at https://www.dw.com/en/yemen-houthi-rebels-target-saudi-oil-field/a-50066244) “This is the second such attack on the Saudi energy industry in recent days and comes amid high Middle East tensions” Really? the second attack? When was the first and why do I see almost nothing on that, and basically nothing from the Western European Newsgroups? There is even more, the quote “The Saudi acknowledgement of the attack came hours after Yahia Sarie, a military spokesman for the Houthis, issued a video statement claiming the rebels launched 10 bomb-laden drones targeting the field in their “biggest-ever” operation” gives rise to all kinds of intelligence issues, the fact that certain players are leaving this in the shadow of their desk is a larger issue. It gives rise to the accusation that the CIA is still on goal to keep stability in the Middle East to a minimum. The fact that we see the (optionally boasted) claim ‘their “biggest-ever” operation‘, whilst Yemen has no infrastructure to do this, I personally doubt that they have the knowledge to fly these drones to their target, all issues involving Iranian support, optionally via Hezbollah, all ignored and all non-reported.

That is not merely censorship that is the stage of filtering events on the world stage and keeping them out of sight all together. Is this the EU play to keep news away so that they can have some empty nuclear deal afloat? All hiding behind some INSTEX tool (Instrument in Support of Trade Exchanges), whilst none of it brings any revenue or actual trade, there is no positive side and when we investigate the Iranian events towards the Houthi forces in support of attacking Saudi Arabia, we see a diminished setting, yet the EU is still hiding behind the nuclear deal that was never a deal in the first place. And now we can optionally add the news filtering that Saudi Arabia is facing. All is not well and a lot of it is about to get worse, all for the simple reason that some people are asking questions now and a lot more will be doing so soon enough, at that point any election falls into the water in a stage where the UK government has only the spin tour of the next election to rely on and in addition the media will feel the pain too. When the people realise that there is no longer an independent press. It went out of the window when politicians decided to ignore the Leveson report to the largest degree. They made their own bed, enjoy the nightmare it brings.

 

 

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The slammer got slammed

There is nothing so rewarding as the moment you realise that you get to slam the door on those slamming the door on you. It is an innate feeling that is in the core of all of us. It is more powerful than getting the drop on your boss or CEO with an overwhelming amount of narcissism and the overbearing feeling towards the need of being some dominant / dominatrix figure (at that point they become merely a figurine).

I made several references over the course of 2018 that this was coming, the stronger one in May 2018 (at https://lawlordtobe.com/2018/05/05/milestones/) where I made the reference: “the EU was never about everyone agreeing on everything and the economic setting that requires that to happen at present is also making the dangers of waves that sinks the barge called EU. Now, that seems like an exaggeration, but when you realise that the German anchor is the only one giving stability, you can see the dangers the EU faces and more important, the dangers of no reserves and an utter lack to keep proper budgets in place, a setting now in more danger for the reasons that I gave supported by the economic views of many others. I believe some are downplaying the impact, yet when we realise that EVERY European Union government is downplaying the economic impact (as every nation always wants to look as good as possible, which is a PowerPoint setting of the human ago) we get a much more dangerous setting“. The article ‘Milestones‘ has more, it also has references to the AfD (Alternative for Germany), and even as we see in the Financial Times (at https://www.ft.com/content/d695fff8-b838-11e9-96bd-8e884d3ea203) “It is a happy hunting-ground for the AfD: if polls are accurate, it could emerge as the most popular party in regional elections on September 1, even beating the left-of-centre Social Democrats which have governed this corner of East Germany since reunification in 1990. Two other eastern regions, Saxony and Thuringia, are also choosing new parliaments this autumn and, as in Brandenburg, the AfD is set to make big gains. That is a major problem for the eastern political elite“, I believe that this powerful eastern political elite is part of causing the headline ‘Germany: AfD surge threatened by party disunity‘, they are that scared at present. The gains cannot be stopped not to the degree some elitists are vouching for; the best that they can hope for is derailing them from becoming the majority, which is actually a political war that is allowed. The question becomes will it work?

We are 2-3 weeks away from finding out.

CNN gave us less than 2 days ago: ‘5 of the world’s biggest economies are at risk of recession‘ (at https://edition.cnn.com/2019/08/14/economy/recession-risk-economies/index.html), it is a huge part because the impact matters. Under Mario Draghi and his bond buying program, there are no reserves left, so the impact towards recession is about to get real. The shift in quality of life makes the consumer spending tactic an instant non option.

Yet, it all comes down to the Washington Post who (at https://www.washingtonpost.com/business/2019/08/14/stocks-tank-another-recession-warning-surfaces) gives us: ‘Stocks losses deepen as a key recession warning surfaces‘. It is here that we get: “after a reliable predictor of looming recessions flashed for the first time since the run-up to the 2008 financial crisis. The Dow Jones industrial average fell 800 points, or about 3 percent, and has lost close to 7 percent over the past three weeks. Two of the world’s largest economies, Germany and the United Kingdom, appear to be contracting even as the latter forges ahead with plans to leave the European Union. Growth also has slowed in China, which is in a bitter trade feud with the United States. Meanwhile, Argentina’s stock market fell nearly 50 percent earlier this week after its incumbent president was defeated by a left-wing opponent“. First of all, ‘reliable predictor‘ is not the term I would use, the dangers were clear for well over a year, it was the wrong stage of a trade war, with the Huawei 5G setting that pushed the inevitable date forward by a lot. The entire Huawei stage was a stage of stupidity, and a more dangerous post-recession part than anyone was willing to consider. We might find clarity in the footnote: “But with so many losing confidence in the near-term prospects of the economy and rushing to buy longer-term bonds, the U.S. government now is paying more to attract buyers to its 2-year bond than its 10-year note“, is looking in the wrong direction. It is merely a small symptom at present and direct consequence on risk and not the one that bites. The US is losing its footing on the global mobile market faster and faster. And even as we accept the ‘marketing’ that Huawei gives via Cnet towards 6G, the direct truth is outstanding for a longer time. It links to my own IP that is currently available to Huawei and I want my share of that market, I believe that my part after the fact will be enough to truly make me independent on several fronts. One party found my claim a $ billion market through the investment on $25m post taxation too good to be true, but it is the second wave that takes care of my needs and you gotta give a little to get a little. It is was the ‘denied’ parts of Credit Agricole and the Paris games of 2024 that gave me the final straw I needed to see that I was right all along. In all this verification that I was correct was always the biggest issue for me to deal with, and the recession is making those big business daddies of greed close to desperate, giving me a small push forward. Those people are not willing to walk away from a one billion market at the investment of 2.5%, no bank has ever offered those margins and with the Credit Agricole parts exposed to the smallest extent, I know it will work. It is there that I saw that the IP I designed was never considered by either Google or Huawei, all set to iterative paths to innovation, and the economy shows that nearly all of the other players were looking at the next quarter, whilst the quarter+3 was the game changer. The Olympics gave the option to look at inverted innovation and make it a new innovation, Paris was not the first, but certainly the clearest indicator and whilst we see through Channel News “Huawei Technologies has joined 564 other entities in the Paris Call“, the message is not that there are 565 players, it is that they are all looking in a similar direction whilst the none excavated the gold mine that was right behind them, a first lesson that the classics can inspire towards a new direction. Now that I see their direction I found two other fields that had not been considered to the degree it needed. Saudi Arabia is giving us Neom City, but there is a lack in one direction and now that this can be exploited we see even more options. You only had to be willing to get your hands dirty in the most literal of ways. And all this is pushed even more through the impact of the European economy. A French invention gets a new life after almost 2 centuries and we can see that there is more to be found.

Sergey Brin on Sat. morning

It is what else Harmony OS can do that will push the benefits away from the US and it will hurt Google to the smallest degree (almost inevitable), Google is just too big, but now that the equation changes, it is Google who will be chasing Huawei, so well done Trump dude, you merely made everything worse for America and I will sell to the quickest bidder and the 2.5% approach gives me the edge; the two known entities Ren Zhengfei and Papa Smurf Sergey Brin can make the investment from the small change they have in their pockets and the bait would be just too appealing for them.

Al this was confirmed and accentuated through the US Senate with: “In February, the US Senate Commerce Committee held a hearing titled “Winning the Race to 5G and the Era of Technology Innovation in the United States”, to discuss what policies are required to accelerate the deployment of 5G to keep America “competitive on the international stage”” and whilst we accept the American point of view, they forgot about two elements in the 5G field and the upper echelons of decision makers showed at that point that they were working in a dimmed room without lights, giving additional evidence that they never saw the writing on the wall and now I get to make a new voice and whilst I only am willing to trust Google or Huawei in all this, there can only be one winner and the others are merely a chaser at best, it is the price of iteration over innovation. Even as Microsoft and IBM are in denial of what they are about to lose, they do know and accept their choice. Microsoft is banking on Azure and there the hindrance of Harmony will cause a void, they were ready for Android, yet HarmonyOS is another matter and China is seeing that as another opportunity. It is there where we see the talks of Huawei with the Shanghai Blue Cloud Technology taking an additional turn, and how many players in the Paris games are banking on Azure? How many lose out when they are not ready for the 5G version 2 under HarmonyOS, it will work with Android and Azure, but suddenly we will see some accidental 10% gap (latency) and that is how the game was played and all this before my elements come into play, and they will!

The big business slammers all relying on PowerPoint presentation they are given the elements and when we see the 2023 acceleration and people cannot answer the differences because they never considered looking behind them as well as looking at the corners of their eyes, the blind corners they ignored; now they no longer have one blind spot, they suddenly have three and we get all kinds of concept promises in presentation form, all whilst the data was never that unclear from the very beginning. An issue they claimed that it was being looked at.

So here I am, having to take their shit with the option to sit at the sidelines watching them fight over options because they anticipated without comprehension, sometimes the universe gets to be nice and smile at those having to take their shit. A direct zero day exploit of the applied intent of narcissism on how good a presentation looks, whilst their data never clearly supported it.

My case of exceeding expectations towards customer satisfaction trumped some short sighted ‘Ca$h is king‘ setting, because it works at the grocer, but that part has no bearing when their minimum needs exceed he budget of 80%, it was a simple equation from the very beginning. So when we are now considering the new ‘truth’ where the Washington Post gives us less than an hour ago: ‘Weak global growth likely to mean US slowdown, not recession‘, we merely see wishful thinking in the quote “Yet most analysts expect the U.S. economy to power through the rough patch, at least in the coming months, on the strength of solid consumer spending and a resilient job market. The U.S. stock market plummeted earlier this week when the bond market, spooked by the global turmoil, sent a possible early warning sign of a recession ahead: The yield on the benchmark 10-year Treasury note slipped briefly below 2-year Treasury yields“, the article (at https://www.washingtonpost.com/business/weak-global-growth-likely-to-mean-us-slowdown-not-recession/2019/08/15/1cb8d81a-bfba-11e9-a8b0-7ed8a0d5dc5d_story.html),all whilst we see the clarity of next quarter believes linked to the next Thanksgiving and Christmas, all whilst it is Q2 2020 that makes the tequila slammer which gives the drinker the sledgehammer headache stated it was one that they never saw coming. The entire trade war is taking a new turn and when the people realise on all that the US is missing out on and therefor anyone taking that path will also learn that there is a long term price to pay and it is the markets that Google and Huawei are now staging for that brings the next stage. China has too much to gain, whilst Google will try to retain losses that they will optionally get (reduced growth is clearly a loss). Even as the impact for Google is small, losing one percent is still big news and there one percent adds to a billion plus, whilst their risk to hedge will cost them a mere 1.8% of the optional loss, it is a non-issue.

Guarantee?

There is none, but the option of a new 2% market is worth so much more than that, and it is not open to the iterative industries, innovators only, because it will be about the momentum and there is too much to gain. Consider what the 565 are looking at, whilst I focused on the group that represents up to 445,000,000 SME companies in a new 5G setting. The Olympics are merely the icing on the cake. 2020 Tokyo opens the doors more clearly but the impact is abundantly seen in Qatar 20222 and Paris 2024. And at present I see that they never looked in the places where they could be, merely where they want to be.

In the end it is one of Warren Buffett’s quotes that got me there: “the great moves are usually greeted by yawns“, thanks Warren; you were absolutely right on that part!

 

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Waking up 2 years late

The BBC gave us Yesterday: ‘Syria war: ‘World shrugs’ as 103 civilians killed in 10 days‘ (at https://www.bbc.com/news/world-middle-east-49126523), it goes on giving us the goods with: “The rising death toll in Idlib had been met with a “collective shrug” and the conflict had fallen off the international radar, while the UN Security Council was paralysed, she said.” the remark should be regarded as pointless, useless and inadequate, all at the same time. It seems to be that Michelle Bachelet is all about laying blame, while it is her office that had failed to the largest degree and the United Nations close to totally. To make good on that accusation, I merely need to point to my article of March 19th 2017, an article called ‘The failure of a current generation‘, it is there that I end the article with: “you only need to ask any Syrian refugee to hear clear doubt, especially after 6 years of too little actions and for the most no solutions. We as a global population have failed these victims who turned to us for help in the most disgraceful of ways“, events clearly visible well over two years ago. The equation is really not complex. It is a country no one cares about, it has no economic powers, there is no glory to get, only optionally the award called the ‘Extremely late to the party Award‘. No politicians wants to touch it, there is no glory, no Nobel Prize for peace and no financial rewards to be found. It is a pile of sand, stone and cadavers that is the brunt of it. The Syrian GDP is around 41.6 billion; the EU spends more on staples and paperclips every year (roughly). No body wants to touch it. Even as we hear the accusations by Madame Bachelet, we must notice the close to complete absence to get anything done.

So when we see: “Last week, the UN said more than 350 civilians had been killed and 330,000 forced to flee their homes since fighting escalated on 29 April. But that figure has now been revised, adding 103 extra deaths in the past 10 days alone. The estimate for the number displaced stands at more than 400,000“, we see the beginning of selective executions, optionally the stage of ethnic cleansing (requires more evidence to prove). That part is optionally seen when we consider one source giving us ‘In Syria’s Idlib, Turkey aims to curb Kurdish militia and refugee flow‘ last May. What is interesting is that the BBC and Madame Bachelet have no mention of Kurds at all.

Professor Balanche (research director at the University of Lyon) gave us at that time: “Turkey had long opposed any Syrian offensive against Idlib, out of concern about refugees and to focus on President Recep Tayyip Erdogan’s primary goal of keeping the Kurdish-led People’s Defense Units (YPG) from taking control of Syria’s northeast frontier“, the timeline is uncanny and the fact that we also see (in August 2018) “Noting that there were Kurds in Idlib, Xelil continued, “Idlib is under occupation by terrorist groups supported by Turkey“, Xelil in this case is Aldar Xelil, a top Syrian Kurdish official. The fact that Madame Bachelet and the BBC are BOTH leaving that part not mentioned is a larger concern. It seems that Turkey is too important to lose to the west, the actions by the United States “Until Washington adopts a long-term strategic posture designed to safeguard Turkey’s core interests“, as well as ‘Turkey’s president calls for further interest rate cuts‘, with the additional “Erdogan says central bank’s decision, while welcome, does not go far enough“, as well as “Analysts say that Turkish assets have benefited from a dovish tilt by the US Federal Reserve and the European Central Bank, fuelling investor appetite for riskier emerging markets. Even after Thursday’s rate cut, Turkish assets offer a significant premium for investors” (at https://www.ft.com/content/974c1b5a-af9d-11e9-8030-530adfa879c2), it is all about giving way to economic interests and the investors. The media evolves into a Seraglio under the all seeing eye of cathouse owner Madame Bachelet, and until today I never expected the BBC to cater to that premise. They are all willing to hand over the lives of Syrians, no one cares about that, whilst we still hear he screaming over a journalist no one cares about (Jamal Khashoggi).

There is a clear path of 5 years of inactions towards Syria, all the actions of paper is literally it worth the value of the paper it was printed on. The United Nations in a seemingly long term strategy that has one massive flaw, by the time that their strategy has value, the Syrian population will be gone for 90%, with only the enabled left with all the resources and wealth. I reckon that the 6.5 million displaced within Syria will vanish, we have all seen this before, it is merely repetition and no one is willing to hold these parties to account, they have other more economically tainted interests.

For Russia it is good news, as Turkey already bought the missiles, it has more and more options in both Syria and Turkey, the inability to get anything done from EU and US shores implies that they have nothing left, just howling behind the humanitarian UN bitches, who are all speech (and essay) and for the most part of total inaction, and we have millions of Syrians who can testify to this, they have been doing so since 2017, yet those voices have been drowned out by the media to the largest extent. It was Yesterday that the Arab Weekly gives us “Syrian refugees can’t find enough arguments to convince the world of the need to end their crisis“, the answer is simple, they have no economic footprint so the west will not care, exploitation comes at a price, you are either a consumer or you do not matter. (at https://thearabweekly.com/syrian-refugee-crisis-sparking-populist-reactions-middle-east), in all this what we read written by Baha al-Awam is correct, there is nothing that is done, because those who care have other interests and Syria is not an interest for them. For a short time the Unites States was interested due to their ‘anti-communistic’ phobias pressing on the matter, but they lost that part as they are too bankrupt to intervene and for now keeping an imbalance on Iran versus Saudi Arabia is as good as it gets, because their footprint is better whilst the imbalance lasts, it is when Saudi Arabia truly grows, it is then that the US fears the impact that they lose in the Middle East, it is that simple. It was not rocket science; it never was in the first place.

Yet there is another side, one that cannot be ignored. The article (at https://www.bbc.com/news/world-middle-east-45403334) is linked to the article that we are talking about and it has a missing element. It is overwhelmingly Jihadist force and also has Syrian rebels, yet the implied presence of Kurds is ignored, however there are clear indications from several sources that there is a shift. With “those working in the northeast alongside Kurdish groups” indicates that Kurds are getting involved more and more in this region and this is likely what worries Turkey, because if this grabs a hold, it could spread to Turkey and that is what Turkey fears, it has too many issues and by the time acts matters Turkey will have to redeploy forces, to what degree I cannot tell, because I have not been able to find any numbers on Kurds, merely that it has been happening for several months now (if some media is to be believed).

Yet there is clear presence and the BBC ignored it, and that is what matters, because this is not how we have ever seen the BBC and that is a worry. So when we see the BBC waking up 2 year slate (in light of the article) I wonder who is taking a long hard reality driven look at what is actually happening there.

I wonder what we will be ‘informed’ about next.

 

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The Scott Pilgrim of Technology

There is a moment when we have to take account of actions; we have to push into the direct limelight the ACTUAL dangers. I did some of it when the DJI issues hit the news. With ‘That’s the way the money flows‘ (at https://lawlordtobe.com/2019/05/21/thats-the-way-the-money-flows/) we see certain actions, but have you considered the actual dangers?

In this case (for a few reasons I move towards the article in the Verge. Here (at https://www.theverge.com/2019/5/22/18634401/huawei-ban-trump-case-infrastructure-fears-google-microsoft-arm-security) we see what transpired half a day ago. With the ARM announcement people are getting worried. Yet they validly ask: “halting its access to current and future chip designs and coming on the heels of similar breaks from Google and Microsoft. Huawei is in deep, deep trouble, and we still don’t have a clear picture of why“.

Yes that is seemingly an issue, if there actually was an issue, in addition we are given “There’s never been a full accounting of why the US government believes Huawei is such a threat, in large part because of national security interests, which means much of the evidence remains secret” and that is where the issue is, it is hidden. There has not been one respectable cyber engineer giving a clear account of where the actual flaws are.

So when we see: “There was never any hard evidence of backdoors in Huawei’s cell towers — but, as hawks saw it, there didn’t need to be. As a hardware provider, Huawei needs to be able to deploy software the same way Apple deploys iOS updates. But as long as there was a pipeline from Huawei’s China headquarters to cell towers in the US, there would be a strong risk of Chinese surveillance agencies using it to sneak malware into the network“. We can accept that to some degree, yet the actual issue stated with: ‘there would be a strong risk of Chinese surveillance agencies using it to sneak malware into the network‘. If it is about risk then that risk is actually zero, you see Cisco solved that problem for Russian, Chinese and North Korean intelligence months ago. The fact that all over the US and now Europe, we see the dropping of Huawei as a consideration is not merely an act of discrimination, it could also be seen as an act of customer being betrayed by their governments.

What is the evidence?

As some experts give us something like: “The vulnerability could allow an authenticated, local attacker to write a modified firmware image to that component. A successful exploit could either cause the device to become unusable (and require a hardware replacement) or allow tampering with the Secure Boot verification process, according to Cisco’s advisory” and make no mistake, routers from Parks and recreation, to the Pentagon right up to the White House are optionally affected at present, the list (at https://tools.cisco.com/security/center/content/CiscoSecurityAdvisory/cisco-sa-20190513-secureboot#vp) shows a list that is impacting vulnerabilities to MILLIONS of devices and the media remains largely silent on it.

And when we also consider: “Other routing and switching gear patches won’t roll out until July and August, with some products slated for even later fixes, in October and November.” we should all realise that Chinese equipment does not make US hardware vulnerable, Cisco (an American company no less) did it for them. The Washington Post is not really covering it, are they? Perhaps because we see (at https://www.washingtonpost.com/brand-studio/wp/tag/cisco-webex) loads of space reserved for partner content, giving us the credo that I have mentioned a few times before. The media has become a whore (or perhaps better stated a person relying on questionable ethics). They cater to their shareholders, their stake holders and their advertisers; there is the real danger and the real vulnerability.

Keeping the people knowingly in the dark from actual dangerous situations, but that is not really what big business wants is it. The dangers that Huawei grew to twice its size was just too dangerous for those on the Wall Street gravy train, and whilst we see these dangers for almost a month, the value of Cisco goes up? Whilst millions of devices are vulnerable with many of them in that state to deep into November, optionally remaining a danger until well into January 2020, for the simple reason that delays are almost inevitable in these situations?

When we realise that we can Google on reported true and false weaknesses that hit Huawei and Cisco, it is shameful to see the following list:

News source

Huawei ‘danger’ given

Cisco vulnerability mentioned

Sydney Morning Herald

Yay

Nay

the Age

Yay

Nay

the Guardian

Yay

Nay

BBC

Yay

Nay

The Times

Yay

Nay

Australian Financial Review

Yay

Nay

Financial Times

Yay

Nay

Washington Post

Yay

Nay

LA Times

Yay

Nay

NOS (Dutch)

Yay

Nay

Dagens Nyheter (Swedish)

Yay

Nay

 

However, in case of the Sydney Morning Herald we do get to see sponsored content for Cisco and the Washington Post gave the readers Cisco Partner content.

As far as I have been able to tell, none of them gave any light to the vulnerabilities in Cisco Routers and Firewalls. Would you agree that a flaw impacting millions of devices is news? Many of them pulled a similar stunt in 2012 regarding Sony in the month before the release of the PS4. In regards to the list, these are supposed to be the more respectable choices for news; the list of absent news giving sources is a lot larger.

Whilst the IT news magazines gave the broader setting (as well as Cisco on their own site), we see that the media is seemingly playing a game of: ‘Let’s rent a hotel room on an hourly rate‘.

When we see Tara Seals in Threatpost giving us: “A critical vulnerability in Cisco’s software-defined networking (SDN) software could allow an unauthenticated, remote attacker to connect to a vulnerable data-center switch and take it over, with the privileges of the root user” (at https://threatpost.com/cisco-critical-nexus-9000-flaw/144290/), I suddenly realise that there is an inner demon with a pitchfork stabbing into my brain telling me that I am a pussy, I disagree! So here it is: “A message for the Pentagon IT department; Do you still have the password ‘Cisco123‘ on some of your routers? If so would it not be a great idea to change it before the Chinese Ministry of State Security and the Foreign Intelligence Service of the Russian Federation (SVR RF) decides to download your servers at their earliest convenience?

I know it is an annoyance, but with Cisco flaws the way they were it is merely a small consideration, and let’s not forget that at this stage no Huawei device was required to acquire the information on your servers. I personally believe that it is time to reward those who do not apply common cyber sense to be rewarded with limelight. I have had to clean up the mess of others for well over a decade and now it is time to give those people the exposure they deserve (my findings regarding Credit Agricole will have to wait for a few more days). When you consider that the flaw also hits the Nexus 9000 Data Centre Switch, a device that is according to their own site ‘Built for scale, industry-leading automation, programmability, and real-time visibility‘, as well as “operate in Cisco NX-OS Software or Cisco ACI modes with ground-breaking Cloud Scale ASIC technology“, and lets be fair, there will always be an issue, a device on such scale cannot be flawless, yet when such a flaw is clearly reported on a level this big and the media merely looks at accusations against Huawei and leaves actual dangers unreported, the integrity of the media has become too large an issue on a global scale.

The issue is twofold for me, the first is that Huawei was never a risk and even as I disagree with the dumb headed approach that the US had, I am very much on the side of Alex Younger (the apparent fearless leader of MI-6), he is merely stating that non-British equipment (in this case Chinese) could be an optional threat in the future. His issue is that this level of infrastructure must be British and he is not wrong, no nation is wrong to have high level infrastructure equipment (whether it is 4G or 5G) in national hands. That is the application of common sense (yet realistically speaking not always pragmatic or achievable). so when he stated last February ‘It’s more complicated than in or out,‘ he is actually spot on, no one denies that. Yet the Americans had their big boots, brainless and started accusations that cannot be proven, that is an issue! For the US it was all about the money and American technology is losing more and more headway, they are literally falling further behind on a daily basis. As I personally see it the direct consequence on iteration versus innovation technology. When the best innovative step is Samsung giving the consumer the ability to share power wireless (which is awesome), even me as an anti-Samsung person will admit that they hit the jackpot with that one. How sad have players like Apple, Microsoft, IBM, INTEL et al really become?

How much of a Scott Pilgrim must we become fighting all the tech companies in the world before we get told the direct truth by the media? How much shaming must we do to make the media make us the number one directive, not the number four option? and as I have been considering more and more to put my IP vision valued at $2 billion public domain and let them fight it out among themselves, basically I am just too tired to engage in another round of bullshit with these so called executives and VP’s who (with the exception of Huawei and Google) do not have a clue on what they are doing in technology in the first place.

The larger problem is not Cisco; it is security and identity management. Most corporations are close to 5 years late into implementing an actual non-repudiation system and that is partially because there is no real good system or good way to ensure non-repudiation, an issue that should have been addressed almost 10 years ago, but never was, I personally tend to blame complacency there. I personally believe that a drive to iteration prevented innovation to get us there, but that is merely my view on the matter and I am perfectly happy to be proven wrong on this specific part.

Dozens of options (I actually had another idea towards a new solution to applied solar technology) all having larger impacts in larger cities and pilot places like Neom City, what does it take for some of these players to wake up and smell the dangers of corporate death through marketing set towards iterative release?

 

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The mental delay

There is a mental delay; we all have it, the moment between the realisation that things are wrong and the rest of the media finally willing to confess to the wrongful parts after they had been milked to the maximum. This is where I believe the UK is when I see: ‘Poll surge for Farage sparks panic among Tories and Labour‘ (at https://www.theguardian.com/politics/2019/may/11/poll-surge-for-farage-panic-conservatives-and-labour). The situation is given through “Support for the Conservatives at the European elections slumps to 11%, less than a third of what the Brexit party is polling“. From my point of view, it is not really a surprise. The people have had enough of the ECB and their lack of control and accountability. The people in Europe are down 3 trillion euro through ill-conceived plans, it gets to be even worse when we consider the march news from the Financial Times ‘ECB unveils fresh bank stimulus amid rising Eurozone gloom‘, a setting that is not unlike irresponsible children using a credit card for which they do not have to pay the bill, the people have had enough. It is emphasized by other media giving us quotes like “Even if we stipulate that Greece’s government is, in fact, as creditworthy as the U.S. government, why would investors accept a lower yield on the Greek bond? And why are they willing to accept the even lower yields on the bonds of other Eurozone governments?“, as well as “Despite the low Eurozone bond yields, investors may expect eventually to boost their returns by selling the expensive euros and buying cheaper dollars and other currencies. Indeed, there is some basis for such a strategy. As of late April, the consensus among analysts was that the euro will appreciate significantly over the next couple of years, and more modestly thereafter; forward markets (where buyers and sellers settle the price of a future transaction in advance) support this consensus view.” Source: MarketWatch.

My issue is that the writing has been on the wall for a while and whilst we are given “The poll suggests the Brexit party, launched only last month, is now on course for a thumping victory that Farage will, MPs fear, use to back his argument that the UK must leave the EU immediately without a deal“, it was a risk that had been 3 years in the making and now that the time is over, we see panic on a few levels. The need for Status Quo as well as the continued Gravy train is now at a stage that the UK and others have had enough, a stage where the large four are pulling a cart where 20 others have not been doing their bit, not even to the smallest degree. From my personal view, the biggest loser is Tony Blair when we consider: “Writing for the Observer online, the former prime minister Tony Blair says it is vital that Labour supporters go to the polls, even if they choose a party more clearly in favour of Remain than Labour“, in a stage where the ECB does as it pleases, the people have largely lost faith, with the economic anchors Greece and Italy still firmly in place things will not get better, not in a Bremain stage of mind. Even as we accept that things will get worse, there is enough indication that it will be relatively short term, without the anchors, the 15 smallest EU nations will unite against the UK, only to find that the setback will increase, a voice without money is worth the value of the empty wallet at best. The IMF report makes it merely worse, the stage where the three largest EU economies are Germany, France and Italy and their prospects are in the basement for this year, led by Italy with a forecast that is somewhere between 10% and 25 % of last year, and as I took the UK out of this, we will see that as the others slide faster, the UK will suddenly become the place to be, a nation in repair. Then MarketWatch gives us a part that I have been claiming for over 2 years: “Policy makers also underplay the financial risks. They emphasize the decline in government debt ratios and banks’ nonperforming loans from their peaks reached during the euro-area crisis. They fail to note, however, that these vulnerabilities are at present distinctly higher than they were in mid-2007 for virtually all Eurozone countries“, whatever options they thought they had was squandered away by the ECB stimulus plans that did not work twice around and now they are giving us an attempt at option three, with no evidence that the third time has any chance of being a charm.

So when I see “‘northern’ Eurozone governments worry that the ECB may be left holding debt that may never be repaid“, which is nice, but I told that the people close to two years ago. It is nice for others to catch up this late. All this is before we give consideration to ‘Italy budget deficit forecast to smash EU fiscal rules‘ (at https://www.ft.com/content/e3b662d2-70ac-11e9-bf5c-6eeb837566c5) all thanks (in part) to an ECB that cannot restrain itself or its members, the UK is much better out and the sooner they do this, the better it is for all. The problem is not merely the deficit, the economy downturn will hit jobs soon thereafter, so before the end of the year. As such the unemployment rate that was merely a stitch below 11% in February 2019 could hit 14% by October, and with one out of three Italian youths without a job, that situation will worsen. It is already worse than Spain, but it will worsen still, that is merely one of the 4 large economies, whilst the ECB was too worried on the next bonus spreadsheet, we will now end up having spreadsheets where the dominant colour is red, on pretty much every page.

Even as we accept the Financial Times words “The forecasts play down the risks of a no-deal Brexit, saying that it “would dampen economic growth, particularly in the UK but also in the EU27, though to a minor extent”“, the part that I see missing is that the UK economy will recover, the remaining EU27 players a lot less so, which is also why we have seen the fuelled anti-Brexit sentiment all over Europe, not because they lose what they call an ‘economic ally‘, but because their own mess becomes centre stage for everyone to watch soon thereafter.

The other part is that the Northern economies are seemingly slowing down, the Local Sweden gives us: “The Swedish economic boom has reached its peak and the economy is approaching a slowdown, the country’s Fiscal Policy Council wrote in its annual report“, I do not believe that to be correct, you see Ericsson is one of a few having a decent 5G solution, together with Nokia they are the only ones who have a decently advanced 5G solution, they are the only ones who are considered in several nations because those nations are narrow-minded and loudly anti Huawei, so these two profit to a larger degrees. When 3G was starting Nokia broke all records, these two will in similar drive 5G, even if there is a slowdown, it is likely to be a very short one, unless the US stops its Huawei smear policy, these two will propel the Nordic economies to a much larger degree.

So when I see Justine Greening, Sam Gyimah, Alistair Burt, all conservatives, all pushing for a Bremain, a second referendum, or some ill-conceived idea that Brexit needs to be acknowledged, the voters have all realised that it is too late, the EU wanted to keep on playing games and leaving the game at whatever point is to be preferred over more and more unacceptable spending.

Yet the one part that is not pushed for is that the Brexit Party and Ukip are approaching a majority, if they can strike a deal with the greens and the Liberal Democrats (they tend to be great followers), we see a new government with the Labor party and conservatives sitting next to one another in the opposition. A historic first, the entire House of Commons for too long in indecision and the people have had enough, I cannot blame them. So when they want to play the blame game, a lot of politicians merely need to look into a mirror to see the guilty party.

I personally belief that the people are seeing the dangers of non-decisions as well as the added media pressures with non-stop incriminations and a total lack of explanation; It is driving the ‘better out than in‘ mood that seems to be exploding all over the UK. The fact that sources are claiming that Brexit might not happen, or that there is a 20%-30% that it will not happen has the people riled, in the end there was a referendum and the complacent and lazy Bremainers were all in a stage ‘it will never happen’, just like that popular claim ‘too big to fail’, so as that went the wrong way the people have been hit with media after media going wild in allegations and all kinds of managed bad news reports like ‘we could lose everything‘, or ‘you’ll get nationally evicted‘, exponential levels of fear mongering for too long, the people are fed up and the Brexit party is gaining more and more momentum. In France far right Marine Le Pen is again in the lead, the Dutch ‘Forum for Democracy (FvD) party’ is equally pushing forward, is that the Europe that the UK wants to be part of? The extreme right parties are gaining momentum more and more and I personally believe that not having a handle on the ECB was a first step, then we still have Mario Draghi being a member of an elite banking group and the fact that no one was holding him to account is still a factor that the few are disregarding, whilst the 3 trillion of bad conceived spending was never up for debate.

There has been a mental delay with the voters, but the facts are out in the open for too much and the facts are too visible, it has angered the people, so as the news thought it was fun to give the readers the news through “The Hinduja brothers, Gopichand and Srichand, have reclaimed their crown as the UK’s wealthiest people, according to the annual Rich List survey. The Indian-born, London-based industrialists are estimated to be worth £22bn, up £1.35bn on last year’s list“, so yes that was a nice part, as the people cannot pay their bills, have to deal with unaffordable living, someone made an additional £1,335 million pounds extra, all that whilst we get “The list reveals that retailer Sir Philip Green has lost his billionaire status; his fortune is believed to have halved in a year because of a pension black hole in his Arcadia empire. The Sunday Times Rich List has Green’s total wealth free-falling £1.05bn in a year to £950m“, when I lose 50% of my wealth, I go from £1,500 to £750, so where is the ‘half’ and the mere decline of10% illustrating going from £1,05B to £950M? It seems to me that he wealthy people are taxed differently on fortunes having to be halved.

Are you still wondering whilst millions of Britons are in anger and are you wondering why the Brexit party is gaining momentum? Farage has the charisma to exploit the silly news items that are seemingly fun to read for some, but in light of all that has happened, it is infuriating a lot more people in the UK than the media should be happy about. And as we saw Tony Blair, yesterday in his opinion piece ‘Farage cannot be allowed to dictate Britain’s future. He must be thwarted‘ (at https://www.theguardian.com/commentisfree/2019/may/11/farage-cannot-be-allowed-to-dictate-britains-future-he-must-be-thwarted) we are given “This is not a vote to choose a prime minister or a government. It is a vote for the Farage Brexit – or against it“. There I respectfully disagree; it has gone way beyond that. It has been about the unacceptable acts of the ECB and the overpaid EU gravy train riders for a much longer time and if Tony Blair had done something about when he was in charge from 1997 to 2007, or perhaps Gordon Brown in the three years that followed, the mess would not be there, in that same light the Conservatives after that did not achieve any significant push to make the ECB come to its senses, and now the people have had enough; they are willing to let Nigel Farage try. Tony should have done a few more things a decade ago and that was never the case. That is why the Brexit party is growing to the degree it is. The lack of kept promises, and the Italian government is merely throwing petrol on that fire, as such the Dutch are finding a person like Thierry Baudet more acceptable than ever before. A status quo play was the worst one to have, but the non-elected officials needed status quo for their wealth and now the gig is up in more than one way.

Tony Blair needs to realise that the Brexit party is not the downfall for either the Labor party or the Conservatives, facilitating to big business was and that is an important elements that none are touching on, the bulk of the politicians are tainted, tainted to the degree that they will stand out in every limelight and their denial in that is just staggering.

The mental delay has passed and now the people are in a phase where they are considering every other solution, except the ones that labour and conservatives offer. It is interesting that no one went on those tracks, the signals and indicators are clearly pushing in that direction.

 

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Media out of bounds

This time I am at a loss. I know that discrimination and racism are entities that exist, yet until last weekend I had no idea that governments would be condoning it. There is absolutely no other way to see it. There is close to 0% of the educated world that does not know that something horrific happened in New Zealand last weekend, 50 lives were lost. So for the most, the entire planet is capturing the moment for their audience, their readers, or so one would think.

There were some rumblings via Al-Jazeera initially, but I was focussed on other matters. Yet when a friend gave awareness to a front page of what might be the biggest newspaper in the Netherlands, it is time to look at the issue at hand. So this large newspaper (large in size as well) decided to use 2/3rd of a page for a photograph of a formula one racer ending in 3rd position taking a selfie. Now in fairness, it is a Dutch racer, so there is national pride at play, but for a newspaper that always has been on the front seat to blow terrorist actions out of proportions (the emotional drive) to take this step is just insane. As such a 3rd position is more important than 50 dead Muslims killed by a Christian?

Because that is the setting!

The Daily Mirror made it worse by having in one instance the stage of an ISIS Maniac (a previous event), yet in the case of New Zealand it is an Angelic boy who grew into a mass killer. The images are also staged for maximum effect. So how islamophobic has the Christian world become?

Because if this continue we are merely one step away from the stage where niggers go into the back of the bus, and will anyone react when it happens to the busses in London and the trams in Amsterdam? If this upsets you, good you should be! You need to get angry because this is just insane; to allow for two measurements, one for Christians and one for the rest? Even as a Christian I find that method of measurement revolting.

At least the Sun gave the goods and a lot more, merely on the front page. It should be offensive for the Dutch Telegraaf to be seen as inferior to the Sun, yet they pulled it off that day. I have looked at hundreds of images of newspapers, plenty in languages I cannot read (and cannot state what they say), yet nearly all papers, except the Daily mirror, all saw a monster, a madman and a terrorist, none of them saw some angelic boy reference.

There is something wrong, it has been wrong for a long time, yet this event is probably the first time that the issue gets pushed to the foreground this clearly. I have stated several times (my personal point of view) that the media facilitates to their shareholders, their stakeholders and their advertisers in that order, beyond that the audience gets served. When we take that into consideration, I wonder which individual was so set on getting the Angelic reference printed, the Catholic Church perhaps? As for the Netherlands, a nation filled with business driven needs, the idea that the front page required a 2/3 page for a photo of a driver making a selfie is equally weird. In that view, was it so weird for me to make the claim that the actions in New Zealand are seemingly just the beginning?

This view is only enhanced when we see the Financial Times giving us yesterday (at https://www.ft.com/content/13227c90-487b-11e9-bbc9-6917dce3dc62) ‘Police believe New Zealand shooter may have acted alone‘; the reports in the last 36 hours contradict this strongly. The spread of the manifest, all set to the stage mere minutes from the attack, the stage of reloading, the setting of time until capture whilst the video and stills had been uploaded to a whole range of locations. So when I see: “Security services under pressure to explain why Brenton Tarrant was not on a watch list“, I see a much bigger issue. I think they are aware that he did not act alone, they have no way to find them at present and that is the larger issue. When Mike Bush gives the Financial Times: “He also defended the police response to the mass shootings on Friday, which saw 28-year-old Brenton Tarrant target Muslims praying at the Hagley Park mosque in central Christchurch and then drive about 5km to the Linwood Mosque, where he shot more worshippers“, I will not disagree. This is not something that New Zealand was prepared for, the fact that this person went to a second place is a larger issue and when we see: “within 36 minutes we had that mobile offender in our custody“, we see the issue. He ‘wanted’ to get captured (massive speculation on my side), more importantly in that time frame he could not have done the digital part. It shows that he was not alone in this; there was a support system in place. Another source gave us that this had been planned for two years. That might hold a truth, but the entire setting with the Bangladesh Cricket team a mere 50 meters away gives rise to slightly bad timing, this means orchestration. It is massively unlikely he had all those parts available. In this the politicians are making matters worse. This is seen with: Technology platforms, including Facebook Twitter and YouTube, are also facing growing criticism from politicians over their failure to prevent the gunman live streaming the shootings on the internet and subsequently allowing the sharing of the video“. This is seen with the Twitch statistics that report “As of May 2018 there are 2.2 million broadcasters monthly“, that comes down to 72,330 streamers every day, there is no technology that will monitor it; there is no AI that could intervene. That solemn common sense moment makes the involved politician part of the problem, not part of the solution. Consider that out of all 0.000138% uploads one is optionally an extremist (this implies one extremist every day), so the number ends up being 0.000003% is optionally too dangerous. We cannot get politicians to put in the effort of keeping up a decent information system that is 75%-80% efficient and they demand 99.999997% efficiency from technology platforms? Politicians have become that delusional. And in addition, there is no way to get them all aboard, making it an exercise in technology discrimination, so in light of what the newspapers get away with, we see no validation on these politicians being loud to get some limelight.

The ‘evidence’ that he did not act alone is seen with “She also revealed that the gunman emailed a copy of a manifesto, which outlined his extreme right-wing, white supremacist views, to her office nine minutes before the attack began. She said it did not include a location or specific details that might have enabled authorities to respond faster. The manifesto was also sent to media groups“, the flaws and other parts showed that his agenda was not some clockwork orange, and the expression fits. When you consider “something bizarre internally, but appearing natural and normal on the surface” we see the larger failure. His actions, his manifesto and his preparations, bizarre on several settings, yet he raised no flags. This is not an attack on the intelligence groups (not this time anyway), yet to do all this, to not raise flags, that requires training and coaching. Even if he was super paranoid, the weapons and ammunition required would need all kinds of assistance (optionally from the criminal elements), but when someone buys all this hardware and ammunition, there is a trail, there are other paths that would have raised a flag or two, yet apparently he had none, this can only be done if others did part of that; an IT ‘friend’ setting up the accounts, the scripts and the stage of forwarding all the images and streams to multiple locations. Was the setting of the Cricket day predetermined? That might have been very likely, yet to know where they would all go for the religious service, how did he get that information? Too many elements cannot be answered with ‘lucky’. My point of view becomes a lot more acceptable when we see: “In the first 24 hours we removed 1.5m videos of the attack globally, of which over 1.2m were blocked at upload” and that was only Facebook, so they blocked less than half at upload, yet the amount of uploads and sharing gives rise to a much larger issue and even as we accept that many are not from extremists, merely from people forwarding what they saw, this was ONE channel. 4Chan, 8Chan, YouTube, Twitch, Twitter links, the list goes on and all can link to one another. This was more than being prepared; Brenton Tarrant had either direct support or a support system at his disposal. They are not the same yet at present the police and the Intelligence community cannot answer which is which. In that same light, I am not entirely sure if tightening gun laws will solve anything. It is so easy to look at guns and their laws, yet the oldest rule applies. Guns do not kill people, people kill people.

In this we must admit that PM Jacinda Ardern has a close to impossible task at present, not merely because of how rare gun violence is in New Zealand, it is the response that some of the media is giving. From my personal point of view some are facilitating to anti-Muslim events. I see the Dutch Telegraaf and the UK Daily Mirror as direct evidence of this. If there was a united front the news would have reported it as such, yet as one twitch was not stopped and 100% more in news coverage was able to give a presented minimised violence footprint, we can say that the technology platforms are a lesser concern than the media is currently showing to be.

It is in that same view that I oppose: “Terrorism experts said the Christchurch attacks showed there was a need for police to focus more on far-right extremism“, I oppose it because the statement is against one successful attack. The issue is not the person; most extreme right people tend to be dumb as fuck (a mere casual observation on American far right wing elements). The elements that made this a success is more important, the timeline, the hardware and the software shows that Brenton could not have done this alone, even if he did do most executions alone, someone taught him to remain under the radar; especially when it comes to the weapons, the ammunition, the IT requirements, the streaming and editing. He would have been on someone’s radar, the fact that he was not makes it a larger issue, not merely some extreme right issue. I can to some extent agree with Jose Sousa-Santos, director of the Strategika Group when I see “there may exist within the security and intelligence community an institutional culture in which Muslim, indigenous and activist individuals and groups are perceived to be the greater threat to national security than right-wing extremism“, yet that does not deter from the fact that Brenton should have been flagged at least once, the fact he was not gives rise to the larger concern of support towards his actions.

So in the end The Financial Times got a lot right, yet the title will remain under debate making it a much larger issue for Mike Bush and Rebecca Kitteridge for the foreseeable future.

 

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Shrine of the Tooth Fairy

It has been almost three months since I wrote ‘One to the hospital, one to the morgue‘ (at https://lawlordtobe.com/2018/12/17/one-to-the-hospital-one-to-the-morgue/), it was all about Interserve and new we see that not only did I see matters correctly. One of my finest diplomatic moments was seen with: “we see the mention of “limiting the cost issue by 1.8%, whilst adding debt reduction by 5% in two years’ time is exactly the message in a stage how we should read it, A Joke!”, oh and that is all whilst in those 7 months £300 million was added to the debt, is anyone waking up yet?“. The Guardian gives us less than 5 hours ago (at https://www.theguardian.com/business/2019/mar/14/interserve-shareholders-vote-restructuring-plan-emergency-meeting) ‘Interserve could enter administration as it fights for restructuring‘, we see that options are considered at the shareholders meeting on Friday, that whilst the actions see now could have been done three months ago. Inaction comes at a price but not for the decision makers who got paid for every day of inaction, and a lot more than the sum of most incomes of those about to lose a job (OK that was an exaggeration). And when we see: “their verdict at an emergency meeting on Friday on a proposal put forward by banks and hedge funds, which have offered to forego £485m of the company’s £631m debt in return for most of its equity, leaving existing investors with just 5% of the shares” I am actually more worried, not less. In the first what happens to the outstanding £146 million of debt? That remains apart from a loss of 95% on the shares for the ‘investors’. We should acknowledge “The US hedge fund Coltrane, the largest shareholder with a stake of nearly 28%, has been holding out for a better offer and may command enough support to derail the plan.” Yet when I also consider ‘on a proposal put forward by banks and hedge funds‘, we need to consider that Coltrane already put a safety net in place, they have not been sitting still for three months. That safety net is shown at the very end of the article with: “The US hedge fund is understood to have indicated that it would be happy to allow the company to go into administration and would seek to negotiate with EY to cherry-pick parts of the business to buy“, a non-solution for Coltrane will be a stage where they get all the cream of the herd and owning 28% of that non loss driving mess, we cannot really blame them can we?

In the article one other part stood out. When we see: “maintaining military bases in the Falklands” I wonder whether this is part of a much larger military contract, and if not, what were they thinking? I am not against military contracts, far from that, but to add one in the middle of nowhere, where their only lifeline are charters from Santiago Chili, as well as a military flights twice a week from Brize Norton (apart from some cruise boats every now and then). When you consider that the closest land is 800 Km away, and the flight from Santiago is 2200 Km, which equate to a flight from London to Libya, we see that this one project alone requires us to look into the depth of decision making. It connects to the larger whole. If we consider that the military contracts were lucrative, isolating them and making them a foundation would have made perfect sense. the fact that the military contract(s) are up for grab in an age when we see all the noise on Huawei and non-proven dangers, all while Interserve is screwing over military security through their decision cloud of non-clarity gives rise to a lot more questions on a several fronts, don’t you think?

And the fun does not end; when we see another source giving us both ‘Interserve calls for ‘positive thoughts’ ahead of crunch vote‘, as well as ‘Employees urged to use social media to say contractor is a ‘great place to work’‘, we see another path that is ignored. The source was the Financial Times (at https://www.ft.com/content/0be957a6-4663-11e9-a965-23d669740bfb), yet the missing part is that the board of Interserve put themselves too thin on the board whilst there were plenty of indications that they were risking too much. Like players in three card poker, betting too much, too often and not having the money to cover the bets. Unless you are the house with all the capital you cannot win that equation. Winning the lottery has better odds at that point. So when we see: “The power point presentation — seen by the Financial Times — suggests that employees share on Facebook or tweet “what a great place Interserve is to work and why,” or how we “continue to win bids and contracts and deliver an excellent service to our customers”” I see a different version. I see the board all paying at the shrine of the tooth fairy for pain relief 297 seconds before the root canal starts and the surgeon is all out of Triazolam. Optional the dentist has Flunitrazepam (read: Rohypnol), yet the patient could end up getting screwed in the process and live with a gap in their memory on whether it happened or not. It sounds harsh, but that is the setting.

The matter gets clear when we consider the quote in the FT: ““Value is being lost every day in Interserve,” said one person close to the board. “If we go through a pre-pack there is more noise around the business and it could take months for suppliers to understand.”“. A part I already clearly saw three months ago. There was no other path there. the view was clear (to me at least) when you looked into the projects that have been up for media presentation, whilst the bulk of all other matters would have been above 0, that would have been the strength of negotiation for Interserve, but it was not to be. Even as the government was steady and willing to award more projects, there should have been a clear path showing the last 12 projects and the gains made in those projects. It was not done, was it? On December 17th the Financial Times made a similar observation (at https://www.ft.com/content/a15ed306-ffaf-11e8-aebf-99e208d3e521), yet there they employed that awkward concept called diplomacy. They gave us: ““The government refused to bail out the company despite the number of contracts involved,” said Tom Sasse, senior researcher at the Institute of Government. “This exploded the idea that the government would always bail out the sector.” Austerity, initially the sector’s friend, has also been its undoing“, I personally believe that part of the board of Interserve were still in the delusional stage that ‘too big to fail‘ could optionally apply to them. The finicky part where the UK government is close to two trillion in debt (£1,900,000,000,000) seems to have been forgotten by everyone. It limits actions for all involved, and next to that the business model of Interserve was less supportive than a soaked tea towel, so go figure!

Next to that we also see: “Some contractors — such as Interserve — had been drawn into services through private finance initiative projects, which packaged up the construction with the service delivery” and that is where the Falklands come back into the limelight, the model of services without construction is a very different part in all that and only if there are long term settings in place, the Falklands does not fit that bill. Now, I can understand perfectly that Defence stated: ‘You can do that, if you also do this!‘ It makes perfect sense, yet that is not really shown in the larger picture and if the other projects are below zero whilst the service elements are still part of the costing, we see a shifted picture, implying that they are hiding behind the ‘recycling’ part, yet the overall image was not as rosy, it was flawed on a much larger scale. This is how I personally see it, and so far my view has been shown to be correct. So if the nightmare continues Coltrane gets all the cream (or the bulk of it) and they can continue, the rest is screwed in a massive way and there will be no Rohypnol available when the tooth fairy comes by stating: ‘Wide open please!

The news does not end there

Just hours ago, the Financial Times gives us (at https://www.ft.com/content/79f20d9a-463d-11e9-a965-23d669740bfb) ‘UK outsourcer Capita posts big fall in profits‘. It is not nearly a sign of the times, it is crunch time, and the service required from certain parties can no longer be afforded. So when we see: “outsourcer faced a decline in work from local authorities, underscoring the challenge of overhauling the business“, that was never ever a secret, the cash is close to gone. Other solutions need to be sought out and that was a given before Brexit started. Brexit will allow the UK to get back up stronger, but it will be after a nasty negative wave, there was never any doubt on that. I informed my readers of that clear danger for years. So this is not news, I never gave consideration to the impact on outsourcers (not my call of duty), but those who work in that field should clearly have been equally aware, that part can be proven without the shadow of a doubt. In all this, from my personal point of view, when we see a 5% drop in revenue, whilst we also get “pre-tax profits fell 26 per cent to £282.1m last year“, we see a more dangerous path in that. It means that the setting of service versus construction (or better the stage of basic profit) has not been correctly set by these players and it merely shows the dangerous path that Interserve has been on for the longest of times. This could have been clearly predicted on a few data mining pathways.

I am now making a speculative view on a speculative stage based on a data stage that might not even exist. I will pose questions to the data board of Interserve:

  1. Show all projects that yielded above £2 million profit
  2. Link to these all directly linked service projects
  3. Link to that all indirectly linked service projects.
  4. Now show final profits for these data trees.
  5. Add to this the elements staff required and cost of staff
  6. Set a separate tree for the Falklands with items 1 through 3, show that final financial result with staff cost continued over time.
  7. Show the other projects with cost, staff cost and total negative profit.

These seven questions will reveal a nightmare tree, the one Bonsai tree that will break your neck when you fall from it. That is the setting we need to have been mindful of. That is optionally the stage that could show the failing of Interserve and other outsources to a much larger degree; the overall mention of so much more revenue, whilst the entire profit part is back benched for too much and for far too long.

The issue of Interserve et al and their stage of what constitutes ‘sound business’ whilst the dangers of what is around the next corner is ignored by way too many shows a multitude of failures and the inaction from too many people gives rise to other levels of dangers that should not have been ignored, although at that time we cannot fault Interserve et al for ignoring those dangers to some degree, yet with the dangers already on their table ignoring them was not a good idea to maintain, or even a great notion to begin with, not with the livelihood of well over 45,000 people at stake.

 

 

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