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1891
There IS Justice!

RE

Dewey files for Chapter 11 - biggest US law firm collapse



 The crippled law firm Dewey & Leboeuf filed for chapter 11 bankruptcy protection on Monday night and will seek approval to liquidate its business after failing to find a merger partner, marking the biggest collapse of a law firm in US history.

Dewey LeBoeuf had warned employees earlier this month of the possibility the firm may shut down. Photo: Reuters

Reuters

7:38AM BST 29 May 2012

Once one of the largest law firms in the US, Dewey has been hit by the loss of the vast majority of its roughly 300 partners to other firms amid concerns about compensation and a heavy debt load.
 

Dewey had warned employees earlier this month of the possibility the firm may shut down, and a person familiar with the matter had told Reuters that the firm was considering a bankruptcy filing.
 

"Dewey's failure is rocking the industry in the sense that most firms are saying to themselves, if Dewey could go down, could we?" Kent Zimmermann, a legal consultant at the Zeughauser Group, said in an email Monday night.
 

Dewey said in a filing it had decided to wind down its business following unsuccessful negotiations with other law firms to strike a deal. It said it would ask about 90 employees to remain on staff to assist in the liquidation, which it expects to be completed in the next few months.
 

Negative economic conditions, along with the firm's partnership compensation arrangements, created a situation where its cash flow was insufficient to cover capital expenses and full compensation expectations, Dewey said.
 
"During the first quarter of 2012, the firm was confronted with liquidity constraints that led to the precipitous resignation of over 160 of the firm's 300 partners by May 11," the New-York based firm said.
 
Dewey listed liabilities in the range of $100m to $500m, according to the filing. It had already terminated 433 of its 533 New York employees earlier this month, according to the state's labor department.
 
The firm's collapse is expected to be the subject of years of court proceedings, and a number of former partners have already retained lawyers to represent them.
 
Monday's filing follows months of turbulence, as wave after wave of partner defections shattered the high-profile firm from within. In April, the Manhattan District Attorney's office launched a criminal probe of former firm chairman Steven Davis. He has denied any wrongdoing.
 
The result of a 2007 merger between Dewey Ballantine and LeBoeuf, Lamb, Green & MacRae, Dewey & LeBoeuf had about 1,450 attorneys at its peak, according to The National Law Journal.
 
But the firm was eventually undone by a combination of the economic downturn, excessive compensation and governance problems, according to former partners and others in the industry. In particular, Dewey's management promised millions in packages to about 100 partners, according to the court filing, leaving it strapped for cash when revenues fell during the recession.
 
The London and Paris offices of the firm are operated through a separately incorporated UK entity, which was placed into administration on Monday.
 
Administration is a UK legal process under court supervision, broadly similar to chapter 11. The UK partnership is following broadly the same approach as that of Dewey in the United States, the firm said.
 
The firm had two dozen offices worldwide, including in Washington, Los Angeles and London. Some of the firm's biggest clients included General Motors, eBay, Novartis, Ambac and Berkshire Hathaway Reinsurance Division.

1892
Economics / Currency Wars
« on: May 26, 2012, 01:40:41 AM »
I'll kick off this thread with a Video from James Rickards, speaking at a recent Casey Research Pigman Conference.  As most of the Commentariat here knows, I'm no big fan of Doug Casey, but this vid is a good basic one to get up to speed on some of the thought process that underpins Currency Wars, which have begun here in earnest.

Currency issues directly affect the Inflation-Deflation issue, but the topic is sufficiently different that I felt it deserved its own thread separate from the HI-Def thread which already is getting pretty long here.  So, without further introduction, let's listen to Jimmy explain the underpinning of a Currency War from his POV.

<a href="http://www.youtube.com/v/Vua3vsS5us8" target="_blank" class="new_win">http://www.youtube.com/v/Vua3vsS5us8</a>

From this vid, what you should get is that the primary impetus for a Currency War is to make your Exports more competitive.  You'll be able to Sell More if you price cheaper, and you price cheaper through a currency devaluation.  This in theory then gets more people employed and jumpstarts your economy relative to everyone else.  With this basically very limited philosophy, Goobermints in trouble economically try to devalue.

In the Greece Euro situation, Nigel Farage decribes it as a "Euro Straightjacket" for Greece, where they CAN'T unilaterally devalue the Euro.  It's pegged much more to the German Industrial Economy than it is the Greek one.  So Nigel's recommendation for the Greeks is to do a Houdini and get OUT of the Straightjacket by Grexiting the Euro and reissuing Drachma, which then they Devalue by some outrageous percentage to try ad become "competitive" with their Exports.

Certainly, Olives and Feta Cheese will become cheaper here if they do this, and they may sell more of them this way, but in real terms they won't earn any more money than they did before, because they are getting less in real terms for each Olive.

The even BIGGER problem though, which Jimmy does mention in passing is that IMPORTS become MORE expensive when you devalue, and of course overall Greece is a Net Importer of just about EVERYTHING.  Most particularly Oil, which until they actually start Drilling supposedly mass Quantities of Oil in a Aegean Sea to import in mass Quantities to keep the Carz Moving and the Lights On.

If they take a 75% Devaluation of the Drachma to sell more Olives, they will not earn many more Dollars to buy Oil on the International Market, but at the same time for Greeks using Drachma, Gas at the Pump would QUADRUPLE in cost.  Remember, each Greek here now makes as Earnings a Drachma, not a Dollar.  So basically a devaluation of such an amount overnight prices just about all Greeks out of the Driving Carz market.  The other foodstuffs they eat BESIDES Olives and Feta cheese and Lamb Chops ALSO Quadruple in price denominated in Drachma.  The Pension check once issued in Euros is now issued in Drachma, but it only buys 1/4 of what it did when they got paid in Euros.

The "solution" to that pretty serious problem is of course for the Greeks to then issue 4 times as many Drachmas to pay the Pensioners (and everybody else of course).  so there is where you get your HI in the Drachma from resulting from the Currency War.

What Jimmy does not cover in this Vid is how the Currency War is really instigated by the Debt problem to begin with.  At least for Debt denominated in your own currency, if you devalue and then inflate to match the devaluation,you CAN "inflate away" the locally held debt.  Problem here is you make your situation commensurately WORSE as far as foreign held debt in other denominations of currrency are concerned.  Solution there of course is to repudiate the foreign held debt, but that exacerbates the HI problems once you do it.
Anyhow, if/when the Euro collapses and all these countries do go ahead and reboot legacy Currencies, valued against the Dollar they are TOAST, and while they might improve export some, it just won't be enough to  climb out of their debt holes.

The Dollar looks positioned to LOSE the currency war from the devaluation POV, because compared to the Euro and even more to the Legacy Currencies, the Dollar is the best looking Dog in the Kennel.  This is bad for Equities, bad for Oil and bad for the Stock market in the near term.

Regardless of the further debt issued by Da Fed, due to the nature of the Currency Wars, and HI of the Dollar seems unlikely.  In the subsidiary currencies though, it seems highly likely.

RE

1893
The Kitchen Sink / Vote for a new Avatar for GO!
« on: May 25, 2012, 01:46:51 PM »

Pic 1


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Pic 4


Pic 5

1894
The Kitchen Sink / All Aboard!
« on: May 21, 2012, 11:58:37 AM »
Sending this post from aboard the Alaska Railroad on the way to Talkeetna.  More tonight with Pics.

RE

1895
Market Flambe / Facebook Facepalm
« on: May 18, 2012, 03:09:30 PM »
I believe I predicted this White Elephant back on Reverse Engineering.



From Zero Hedge

Forget that S&P 500 e-mini futures plunged to four-month lows at 1290; or Treasury yields crashed back to their record lows; or Gold and Silver's surge today; or WTI's plummet to almost a $90 handle; or Citi joining Morgan Stanley in the red year-to-date; or credit markets continuing into the red for the year; or IG9 10Y soaring further to 160bps - widest in 6 months; or VIX closing above 25% for the first time in 5 months (and decompressing to Europe's pain). Today was all about one thing - the disaster that was/is/and will be Facebook - between late openings, overwhelmed systems, a dump to the syndicate bid and almost 600mm shares traded with the syndicate just soaking it all up at $38.00 early and into the close. Is it any wonder that every other social media stock plunged and how do they expect to ever get another internet IPO off again (at anything but a massive discount). No matter what correlation trick was tried to juice markets today - for the tenth day-in-a-row markets saw a BTFD turn into a STFR. Not a pretty end to the ugliest week in six month for the S&P 500 as it nears its 200DMA into the close.



RE


1896
Diner TV / 📽️ Favorite Film Clips
« on: May 16, 2012, 12:54:15 AM »
Over in a commentary I just wrote about the Greek Farce, I included a Clip from "Von Ryan's Express", a 60s era WWII film.  It got me back into Mr. Peabody's WAYBAC Machine thinking about some other old WWII Flicks I saw a zillion times over on Late Night Television in the 1970s.  Films that were replayed many times because the local station in NYC bought the rights to show them.  One of them was "Donavan's Reef", with John Wayne, Lee Marvin and Jack Warden.  I think perhaps this film is the origin of my fascination with Polynesian Culture and the deep seated HOPE that someday when all is said and done, we can leave all this shit behind and return again to the Big Island of Hawaii to find our Freedom once again.

Bet you all know which character RE identified with in that film also  :icon_mrgreen:

<a href="http://www.youtube.com/v/gb1hLt9s2K0" target="_blank" class="new_win">http://www.youtube.com/v/gb1hLt9s2K0</a>

Anyhow, I will post up other great Film Clips in the future in this thread, and ecourage all of you folks to do the same.  It is sort of the Film version of the DD Juke Box.

RE

1897
Economics / The Euro Collapse Poll
« on: May 13, 2012, 07:36:45 PM »
OK folks, time to do some Betting on the Demise of the Euro!

You only get ONE chance to vote in this Poll, it is set so you can't change your vote.  To do that, I also had to set it so only Members can Vote.  So no Ballot Stuffing by fake "guests" either! LOL.

Write your analysis in the thread below to explain your rationale for your vote.

RE

1898
Economics / A World Terrified by Impotent Ghosts from the Past
« on: May 13, 2012, 11:35:46 AM »
Now there was some fairly meaty Shepherd's Pie to kick off here on DD Slogger :emthup:

Why is the political class trapped in past solutions that didn't work the first time they were tried, and sure won't work this time around with truckloads more people and tankerloads less Oil around?  Mainly I suspect first because the future is not one where they will be riding the Gravy Train, and second because any solutions which might work require such a vast reduction in the amenities of life provided for by the thermodynamic energy of Oil they can't bring themselves to contemplate such a "primitive" level of existence.  No Cars?  No Electric Lights?  No Hot Shower in the morning?  No Starbucks Latte?  Acccckkkk!

Quote from: Slogger
Why gold in 2012? Because that’s what was used in 1926?
Quote

The monetary question of course is the subject of much debate here, including the Gold Question.  IMHO the reason is because most people don't understand the nature of money at all, and Gold Bugs hang onto that one mainly because they figure "it's been Money for 1000s of years and always held it's Value and Goobermints can't Print it willy-nilly".

What Gold Bugs conveniently seem to forget is that Money panics came just as often with Gold as with Fiat, perhaps even more often.  Besides that, Gold was only ever the "Money" of the Ruling Class.  "Silver the Money of Gentlemen and Debt the Money of Peasants".  Besides THAT, today with 7B people on the Planet there is less than 1oz per person, which does not make for a lot of coinage for anybody to carry to the supermarket.

Anyhow, in the midst of a panicky and failing monetary system, people are grasping out onto things they think they know to be true, like "Gold will always hold its value" or "Real Estate will always go UP".  The second one obviously already has proven false, and Gold also eventually is going to pop its bubble.

The problem of course is that in a society where Money has been used for 1000s of years, few people can imagine how to run a functioning society without it.  This is a fundamental problem.

RE

1899
Geopolitics / Ron Paul Rising?
« on: May 07, 2012, 09:44:14 PM »
I have;t been over to TBP to check in yet, but given the latest bunch of MSM reports regarding RPs Delegate Collection strategy, the Paulites over there are probably ejaculating all over their keyboards.

According to the latest reports, a straight Mittens CROWNING as the Republiscum White Knight to take on the Black Knight  of Obama-sama seems quite a bit less likely now.  The talk in the MSM is now of a "Brokered Convention".  Also some talk that the RNC will refuse to seat some RP Delegates at the convention.

What this boils down to of course is that the Republiscum Convention looks like it will be a real HOOT, the best convention since Dan Rather got slugged on the floor of the 1968 DNC in Chicago.

RP coming out of this on Top as the Nominee still seems unlikely of course, but it will be interesting to see what kind of Platform they work up.  Da Fed would likely be a primary Target for RP Planks in the platform.

What does seem most likely is that there will be a lot of Street Action surrounding the RNC this year.  Can't wait to see what the Gestapo brings out of the garage here, and what sort of tactics the Boys in Black Pajamas will take to counter that.  Some Sling Training now is recommended.

<a href="http://www.youtube.com/v/vDjL5uOs-8A" target="_blank" class="new_win">http://www.youtube.com/v/vDjL5uOs-8A</a>

RE

1900
Market Flambe / Wile E Coyote Time?
« on: May 06, 2012, 09:07:29 PM »
In the wake of Sarko's  crash at the Ballot Box and the Greek Parliament being turned into a melee of anti-bailout parties some of which only appeared on the scene months ago, predictably here there is a flight to "safety" going on in USTs at the moment.  The Eurotrash Markets should be opening here pretty soon and they should also do a predictable Black Swan Dive.

This would seem like a good week to bet the market short, though of course Helicopter Ben and the PPT are likely to drop in and keep the FSofA markets under some control.  Another aspect to consider is that if investors start wholesale dumping of Euro stocks, they might turn around with whatever toilet paper they get from the sales and buy AAPL or Netflix.  One group sure to get hit hard here are Eurotrash Financial Stocks, so this might be a good time to short Deutch Bank and BNP Paribas, which are already pretty low but really should be Penny Stocks so there is still money to be made in shorting them.

On that note, it can't be too long here before one of these major Eurotrash Banks has to be explicitly Nationalized, which itself would set off another daisy-chain round of collapses beyond what the Goobermint collapses are doing.

For Kollapsniks here, the Week Ahead in the Markets looks to be the most exciting one in quite some time after a period of relative calm and boring Ramp Jobs based on Hopium and more Bullshit, Lies, and Statistics from the BLS.

Break out the Popcorn boys and girls, we're gonna have some FUN this week! :partytime2:

RE

http://www.zerohedge.com/news/treasuries-plummet-3-month-low-yields-equities-recouple
Treasuries Plummet To 3 Month Low Yields As Equities Recouple
Submitted by Tyler Durden on 05/06/2012 22:40 -0400

Ben BernankeDeriskingEuropean Central BankYuan

US Treasuries opened just over an hour ago and are now trading considerably lower in yield. 10Y yields are under 1.84%, their lowest since February 3rd and within a few bps of ther 1.7959% yield lows of mid-December which would all but guarantee a return to the September 2012 2011 low yields. More critically for all those QE-hopers, the massive divergence which we have been vociferously arguing as unsustainable between 10Y yields and the S&P 500 has how collapsed and converged perfectly. From last Tuesday's Bernanke press-conference when he hinted (albeit hedged with chatter of recklessness) that QE was still on the table (which we argued meant that - should the entire world suddenly go pear-shaped, we will step in but until then we are on hold), US equities decided that they should forget fundamentals once again and simply bid the market on nominal price improvement based on fiat-debasement - which enabled a 50 point divergence from reality- which has now completely converged and in fact S&P futures are now 10-15points below the pre-Bernanke-week-hope lows.

10Y Yields are at 3-month lows...

As a reminder, not only are macro data serially disappointing (or simply Schrodinger-ing where impossible to fudge) but while earnings may be interpreted by many as good for Q1 they are merely reflexively biased from a reduced expectation going in and more critically (for those investors who don't have a time-machine - everyone except Tilson), although these quarterly earnings look positive they have done nothing to change 2012 overall EPS estimates as the back-end remains heavily hoped hyped loaded.

Broadly-speaking, US equity futures, Treasuries, and FX markets have stabilized at somewhat convergent levels for now and as the Yuan depreciates (that's the opposite of appreciates Senator Schumer) the most in 3 weeks, we await Europe's open for the real derisking action to begin (especially as we remind readers of the drying-up of collateral for any new ECB funding shenanigans - most notably for the worst nations such as Spain as we noted here).

1901
Geological & Cosmological Events / SUPERMOON on Sunday!
« on: May 04, 2012, 10:08:34 PM »
Just what we need.  A few more percentage points of Tidal Forces stressing the tectonic plates this week.  Any bets on a BIG ONE coming?

RE

Biggest Supermoon of 2012 due Sunday
 
May 5, 2012 7:42am
 
Filipinos can expect the moon to appear at its largest Sunday, as it becomes full and reaches its closest point to Earth.

The moon will appear as a giant ball in the sky during this time, according to a report on dzBB radio early Saturday.


In this file photo from Reuters, Supermoon rises over the Bronx section of New York City on March 19, 2011.
But the report said the Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) sought to allay fears the supermoon may cause calamities, saying there is no evidence to back such fears.

A separate article on Space.com said the moon will officially become full at 11:35 p.m. EDT Saturday (11:35 a.m. in Manila).

"The moon will swing in 221,802 miles (356,955 kilometers) from our planet, offering skywatchers a spectacular view of an extra-big, extra-bright moon, nicknamed a supermoon," it said.

It added this month's perigee is the closest of any perigee in 2012 – perigees vary by about three percent since the moon's orbit is not perfectly circular.

"The result will be a 16 percent brighter-than-average full moon accompanied by unusually high and low tides this weekend and into the new week," Space.com said. — LBG, GMA News

1902
Geopolitics / May Day Gets SERIOUS: No More Mr. Nice Guy
« on: May 01, 2012, 05:08:01 PM »
May Day in Seattle: Black-clad protesters smash bank, shop windows
  Comments 7Share95
 
Protesters smash shop windows during May Day protests in Seattle. (Joshua Trujillo / Seattlepi.com / May 1, 2012)

Check out the Slideshow!
http://framework.latimes.com/2012/05/01/may-day/#/0

 
By Kim Murphy
 
May 1, 2012, 4:08 p.m.
SEATTLE -- Downtown Seattle erupted in chaos Tuesday as black-clad May Day demonstrators marauded through the downtown shopping district, smashing plate glass windows at banks and retail outlets, spray-painting cars and slashing tires. Some arrests were reported in May Day protests in Portland, Ore., as well.

Seattle Mayor Mike McGinn signed an emergency order authorizing police to confiscate sticks, tire irons, hammers and other implements that might be used for continued destruction, though the worst of the mayhem appeared to have died down by midafternoon.

The order was targeted at protesters who carried flags and protest signs on long, heavy poles during marches that began shortly after noon. Police say the protesters then converted the poles to implements of urban destruction, attacking targets from Starbucks to NikeTown.

PHOTOS: May Day protests

“The 1st Amendment uses of 5-foot-long, 3-inch-wide sticks is outweighed by our authority … to confiscate weapons,” McGinn said at a hastily called news conference.

“When you get a group of people who are committed to cause damage, carrying weapons that they are using in a way that they’re flags or some other type of item … [then] they move quickly and disperse rapidly and hit multiple points, it’s difficult for the police to react fast enough to respond to that,” the mayor said.

Intense protests also broke out in Portland, where police reported at least a dozen arrests during long-planned May Day marches.

Authorities said the problems in Seattle began after a group of about 300 apparently peaceful protesters marched from Seattle Central Community College, formerly the scene of the long-running Occupy Seattle camp, toward the heart of downtown at Westlake Park.

From there, a group of about 75 protesters adopting the “black bloc” style of black clothing and masks began attacking banks, stores and a few upscale cars. “By 12:35, we had reports from officers of paint and rocks flying, hammers and tire irons being used to damage property,” McGinn said.

There were also reports of “sound bombs” and firecrackers being used, and local television showed a small fire in one location.

But arrests were difficult because many of the black bloc protesters then changed their clothing and blended back into the crowd, authorities and witnesses said.

Police Chief John Diaz said he had received worrisome reports before Tuesday’s events that anarchist groups were planning to disrupt the city’s traditional May Day marches.

“This is a city that loves protests, that’s proud of their ability to have protests, and the vast majority of the time, we’re able to do it quite well,” Diaz told reporters. “It’s extremely unfortunate that we have small groups of people wanting to hijack these events,” he said.

“There has been a couple of arrests, and I guarantee there will be more before the end of the evening.”

Police said the courthouse used by judges of the U.S. 9th Circuit Court of Appeals was among the buildings damaged, along with branches of Wells Fargo, Bank of America, HSBC and Homestreet banks.

In Portland, nonviolent protesters marched through the city and through a major downtown shopping mall, banging drums and chanting, “Whose streets? Our streets!”

Police said protesters left the city’s Waterfront Park at about noon and almost immediately began walking into traffic, where they were confronted by police who made several arrests.

At least two banks reported vandalism, including damage to an ATM and broken glass doors, with additional damage reports still flowing in, the Portland Police Bureau said in a statement.

Additional marches were planned throughout the afternoon in both cities.

1903
Primitive Living / The Trebuchet Thread
« on: April 30, 2012, 03:29:55 PM »
OK folks, here it is, the moment you have all been waiting for, RE in the flesh firing Water Balloons at the kids who built it from our Trebuchet.  I'll probably write on this tonight but I couldn't wait to get the vid up  :aola:

<a href="http://www.youtube.com/v/EJEFFdLpWps" target="_blank" class="new_win">http://www.youtube.com/v/EJEFFdLpWps</a>

RE

1904
Economics / How Many People Died for your 8 Hour Day?
« on: April 30, 2012, 04:09:03 AM »
Surly sandbagged me with this post, I had no idea he was writing it and would publish it on the blog, and I must say I am really glad he did this. ;D  Its nice to get surprised with new stuff on the Homepage of the Blog!  Currently, as I recall only myself, Peter and Surly have permissions for Blog posts, maybe Ross also I don't remember for sure now who has an ID and password to the Blog and Authorship priviledges.

Anyhow, to the subject matter at hand, Labor is clearly under attack here at the moment, and without organization Labor is dog food.  At the same time though, traditional "labor" of the Industrial Era is also going the way of the Dinosaur.  Not sure we need to make a fight for better "wages" here anymore.  Now I think we have to fight for equity in terms of OWNERSHIP of the Earth and it's resources.  The people have to take back what was stolen from them.  This will be a hard fight, no doubt, even harder than all the fights necessary for creating an 8 hour day for the working man.

Going to be tough fight here, for sure.  However, "when the going gets tough, the tough get going."

Time has come here to get TOUGH and TAKE NO PRISONERS!  No more Mr. Nice Guy!

The Meek Shall Inherit the Earth. Right AFTER the Meek get very, VERY Angry.

RE

1905
The Kitchen Sink / Creating Community in the Modern World
« on: April 29, 2012, 06:04:12 PM »
I thought I would kick off discussion of Chris' article by looking at his 4 major points presented at the end of the article with respect to what has been occurring  here in the Diner, and on Reverse Engineering on Yahoo before that.

Quote from: Chris
Create a Tribe from an Existing Small Group

While it is possible for a single individual to bring people together to form a tribe, experience shows that this is much easier when a few people are involved, usually between three and five to start. There are a few of reasons for this:
 
1. The core community will consist of multiple personalities who can compensate for each others weaknesses.
 
2. Labor can be spread out more effectively, and core community members can step in for each other as needed.
 
3. Many tasks can be taken on by those most interested in doing so rather than merely as necessary work.
 
4. A small group provides some protection against bad decision making.
 
Consider the Market for Tribal Recruits

Starting from the preface here, this Tribe did start with one person, yours truly RE.  However, said tribe never had any chance of success until I found the other core members here, Peter and Surly mainly.  I also never brought us outside Yahoo untill we had good support from other Tribe members, about 14 in all who participated in this launch.

Now let us look at each of the Principles Chris delineates here with respect to the Diner

1. The core community will consist of multiple personalities who can compensate for each others weaknesses.

No doubt, we have the many personalities and perspectives going here, Peter and I for example are diametrically opposed to how we think the Illuminati have the game organized up here and how their control will play out.  Also, Surly and I differ in how we think Violence will be applied, and its worth in resolving problems.  Surly advocates for Non-Violence, I advocate for getting as Violent as is necessary here to rid the world of the Vermin which currently infest it. Then we have any number of contributors who are seriously Tin Foil, who make the case for Alien influence on the problems we see around us. So you get a variety of perspectives here all the time on these issues.

2. Labor can be spread out more effectively, and core community members can step in for each other as needed.

The WORK involved in creating this Tribe is ENORMOUS, and for the most part to date Peter and Myself are doing this work as we have time and energy to do.  Peter does his work on the back end, the software that drives DD for the most part.  He is not quite so visible as I am, but he certainly is putting in just as much time and energy into this project as I do.  I do my end by writing more than just about anybody else ever could and being the "Face" of DD. Its my JOB here to write as much as I can in as entertaining fashion as I can to draw in more members to this Tribe.  Its not an easy thing to do, trust me on this one.  I make mistakes all the time, I piss people off and drive them away nearly as often as I pull them in..  However, nobody else can do this job, really nobody I have ever run across on the net can write as much as I can as fast as I can and still have at least SOME worthwhile content in there.

3. Many tasks can be taken on by those most interested in doing so rather than merely as necessary work.

We do what we do here not for MONEY, but because this is what interests us and brings us enjoyment.  Peter does his end because he truly enjoys messing around with code and tweaking up a website so it is just perfect.  I do my end because I truly enjoy Pontificating on just about EVERYTHING.  lol  I think the rest of the crowd here is just here because they ENJOY being here, its not "work" for any of us.  It never should be "work".  If it BECOMES work, then you got a problem and you probably will not last too long.  I think this is what is occurring with TAE and also TBP.

4. A small group provides some protection against bad decision making.

So far our decisions seem to have been good ones, but I am not sure a small group always prevents bad decisions from being made.  Depends on the parmeters you are faced with and the "Group Think" of the small group.  Big groups and "Democracy" are no cure for bad decision making either, so it is pretty much a crapshoot no matter how you approadh this problem.

At least for now, I think our decision to "Go Public" and jump off Reverse Engineering was a Good Decision.  Many of the Founding Members worried about this, and continue to worry I am sure.  Can you "scale up" a Tribe of 14 people to hundreds or thousands?  I do not know the answer to that one, but I am SWORN to a principle here.

SAVE AS MANY AS YOU CAN

Could not do that on my little Yahoo Group, comfortable and friendly as it was.  So now here we are, in the Mansion that Peter Built, and now we take on the task of building a still bigger Tribe to survive the dark days to come.  We will all need each other in many ways, and for so long as the Internet stays up and my keyboard fingers will move, I'll do my best to help as I can here.

SAVE AS MANY AS YOU CAN

RE

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