Quotulatiousness

November 21, 2023

“Self-checkouts are not quite Skynet T-800 death dealers. Sarah Connor can rest easy – for now”

Filed under: Britain, Business, Technology — Tags: , , — Nicholas @ 05:00

I realize the problem is me, in that I hate self-checkout kiosks with a fiery passion and have been known to abandon any plans to purchase from a store if there is no human assigned to the checkout desk. I decline (with thanks) all offers to use the self-checkout — several of which are often unused — while lined up three or four deep at the one human’s work station. It must be my Luddite side showing. But, as Christopher Gage shows here, I’m not completely alone:

Self-checkout using NCR Fastlane machines at a Sainsbury’s store in the UK.
Photo by Magnus Manske via Wikimedia Commons.

“He’s got a problem with potatoes,” said the condemned, guarding the self-checkout machines. Potatoes plague them. Carrier bags flummox them. ‘Surprising item on the scale,’ it squeaked as if I were weighing up a kilo of black-tar heroin.

The retirement refusenik tapped a code on the screen for the third occasion before returning to his post. ‘Unexpected item in the bagging area.’ Embarrassed, I marshalled my friend — the Hobbity, amenable man with the silver slugs for eyebrows — for the fourth time. He recanted a well-worn sop dispensed to young dotards like me: “Don’t take it personally,” he said. “He just doesn’t like you.”

Self-checkouts are not quite Skynet T-800 death dealers. Sarah Connor can rest easy — for now.

After a little while, the machine let me go. The ordeal, fractious and infinitely slower than employing the helpful man to man a till, was over. Then, the devil-device sucker-punched square in the testes.

“Lovely to see you bye for now,” read the screen. Sinister, like a Jehovah’s Witness grinning. No comma after the introductory clause?! The insolent swine. I fought the primal urge to drown the machine in Coca-Cola and watch it crackle. The clean-up would be Harold’s job. He had enough on his plate.


Mercifully, one supermarket has sacked these silly machines.

Booths, a posh retailer up north, has retired self-checkouts in all but two of their stores. The good burghers of Booths reckon humans talking to other humans is a groundbreaking idea that will catch on in future.

“We have based this not only on what we feel is the right thing to do but also from having received feedback from our customers,” they said.

“Delighting customers with our warm northern welcome is part of our DNA.”

Wearily, Booths did what British northerners must do lest they spontaneously combust — they peacocked their northernness. Apparently, to be born on a particular patch of this floating rock bestows northerners an umbilical, friendly mien.

Northerners cannot help themselves. POV: You encounter a northerner in a pub: “A malignant tumour, you say? You wanna get yourself a northern tumour. Northern tumours are far less aggressive than those bloody southern tumours. It’s a fact! Northern tumours still have a sense of community, you see. Not like southern tumours …

I must forgive them. Booth’s “northern welcome” is a good thing. Entities imbued with DNA are a good thing. Even one fewer self-service checkout is a good thing.

From where Booth’s tread, others may follow. The numbers don’t tell fibs.

Self-checkouts mutate even the most cherubic of citizens into a degenerate thief. Stores with self-service checkouts suffer double the shrinkage (4%) — industry-speak for pilfering and thieving.

Researchers say the temptation can prove too much, provoking our inner tea leaf into a spot of half-inching. Self-checkouts goad miscreants into slapping a “Reduced to £1” sticker on a litre of Jameson.

Booths have bucked a trend. A fatuous, anti-human trend.

Update: Fixed broken URL.

QotD: Collabortage

Filed under: Business, Quotations, Technology — Tags: , , , — Nicholas @ 01:00

Yes, that’s a new word in the blog title: collabortage. It’s a tech-industry phenomenon that needed a name and never had one before. Collabortage is what happens when a promising product or technology is compromised, slowed down, and ultimately ruined by a strategic alliance between corporations that was formed (at least ostensibly) to develop it and bring it to market.

Collabortage always looks accidental, like a result of exhaustion or management failure. Contributing factors tend to include: poor communication between project teams on opposite sides of an intercorporate barrier, never-resolved conflicts between partners about project objectives, understaffing by both partners because each expects the other to do the heavy lifting, and (very often) loss of internal resource-contention battles to efforts fully owned by one player.

Occasionally the suspicion develops that collabortage was deliberate, the underhanded tactic of one partner (usually the larger one) intended to derail a partner whose innovations might otherwise have disrupted a business plan.

Eric S. Raymond, “Collabortage”, Armed and Dangerous, 2011-02-16.

November 15, 2023

The big brains of Hollywood display “a special kind of stupid”

Filed under: Business, Media — Tags: , — Nicholas @ 03:00

Ted Gioia met with a group of executives from movie distribution firms outside the North American market back in 2016. It was a good time, financially, but the overall tone of the meeting was anxious because the trend seemed unsustainable:

These were smart people, but they didn’t make the movies. They just ran theater chains. But they didn’t need to be specialists in creativity or storytelling to know that hit films were now built on tired formulas, the same plot lines played out over and over again.

Special effects added some sizzle to the steak, but it was still the same stale meal night after night. Sooner or later, even superheroes die.

Other genres have come and gone — westerns and musicals and other box office draws of the past. Comic book franchises would eventually meet the same fate.

Source: Bo McReady

Back then, Disney was bragging to shareholders that another 20 Marvel films were already in the pipeline. And that was just a start. CEO Bob Iger explained that Disney owned the rights to 7,000 different Marvel characters — implying that brand franchises could propagate forever, like copulating Australian bunnies.

That was the party line in Burbank. But most of the people I spoke to that day privately expressed doubts about this formula-driven strategy. They hoped to enjoy a few more years of boom times, but worried about what would happen next.

    “It takes a special kind of stupid to kill off Indiana Jones or Toy Story or a Marvel superhero, but that’s exactly what’s playing out right now in the Magic Kingdom.”

As it turned out, they were right to worry. But a virus, not a superhero, let them down. The first COVID case happened almost exactly three years after my December 2016 talk.

But it now looks like the pandemic merely delayed the creative collapse.

Hollywood has saturated the market with look-alike movies. Their pipeline of films is now exploding like the Nord Stream, but with this difference—studios are still sitting on a huge pile of future bombs.

And what does a studio do with a bomb on its hands?

They have four options—and they are four kinds of ugly

  1. You delay the film, hoping for a better market environment in the future.
  2. You send it back for rewriting and more filming
  3. You cancel it entirely, and write off the investment
  4. You release it — sinking another $50 million, more or less, into marketing — and then watch it collapse at the box office.

Disney is getting a sour taste of strategy number four this week.

November 10, 2023

Canadian media’s self-immolation an object lesson for British media

Marc Edge discusses how Canada’s legacy media joined together in a virtual suicide-pact to force Google and Facebook to give them millions in unearned revenue:

The best-laid plans of Canada’s biggest media owners went badly awry this summer, when Meta began blocking news across the country on its social media networks Facebook and Instagram in response to the Online News Act passed in June. Newspaper publishers lobbied the federal government relentlessly to force Google and Meta to compensate them for supposedly “stealing” their news stories by carrying links to them. But instead of bringing them hundreds of millions of dollars a year from the digital giants, as a similar law has in Australia, their campaign backfired badly in what has been described as “a massive policy blunder“, and “the most spectacular legislative failure in Canada’s living political memory“.

Not only will publishers not be getting any money from Meta, they likely won’t get any from Google either, as they have threatened to similarly block news in Canada when the law comes into effect in December. Ironically, publishers will instead lose millions instead, as the agreements they already have with at least Meta will be cancelled, and probably those with Google as well. The knock-on effect makes it a triple-whammy when you also consider the traffic that news media will lose to their websites from the platforms. Worst affected will be online-only publications which have depended on that traffic to build an audience. Most did not want the Online News Act and many spoke out against it, but they were drowned out by the newspaper lobby led by industry association News Media Canada. It is dominated by the country’s two largest chains, which are now owned by a private equity firm and US hedge funds.

The Online News Act is the second in a series of bills designed to regulate the Internet, which, when taken together, include many of the same elements as the UK’s omnibus Digital Markets, Competition and Consumers Bill now before Parliament. An Online Streaming Act passed in April will tax and regulate digital video services in Canada, which are mostly owned by U.S. companies such as Netflix, Disney, and Amazon. A so-called Online Harms Act designed to combat hate speech and online bullying was introduced in 2021 but died on the order paper with an election call. It was criticised by civil libertarians for potentially prohibiting otherwise lawful speech and was thus being revised, but so far it has not been re-introduced. Legislation aimed at increasing online privacy and consumer rights is also planned.

One of these things, on closer scrutiny, is not quite like the other ones, and a realisation is growing in Canada that the government may have been co-opted in its enthusiasm to regulate the Internet to participate in what has been called a “shakedown” of the digital giants. Canada’s news media have literally been on the dole for the past five years since they lobbied the government for a five-year $595-million bailout that expires next spring. This has prompted publishers to adopt Rupert Murdoch’s successful strategy in Australia of persuading the government to force the digital giants to share their advertising revenues with newspapers.

Canadian publishers lobbied for the Online News Act in part by running blank front pages for a day and also spiked several opinion articles by academics that had been accepted for publication by editors. Canada has long had one of the free world’s highest levels of media ownership concentration, along with Australia. It went to another level in 2000 with the “convergence” of newspaper and television ownership, against which Canada had no regulatory safeguards, unlike most other countries. The multimedia business model collapsed with the 2008-09 recession, when advertising revenues dropped sharply, and Canada’s news media have been lurching from bad to worse ever since. The country’s largest newspaper chain, Postmedia Network, was acquired out of bankruptcy in 2010 by a consortium of US hedge funds which had bought much of its previous owner’s high-interest debt on the bond market for pennies on the dollar. They have since taken more than $500 million out of the company in debt payments. The country’s second-largest chain, Torstar, was bought from its owning families at the outset of the pandemic in 2020 by private equity firm NordStar Capital, which has been similarly stripping the company with closures, redundancies, and asset sales.

Only a government could waste this much money on the ArriveCAN boondoggle

Filed under: Bureaucracy, Business, Cancon, Government, Technology — Tags: , , , — Nicholas @ 03:00

Chris Selley is in two minds about the ArriveCAN scandal, in that thus far no minister has been implicated but we all may naively assume that the civil service was better than this sort of sleaze:

It’s tempting to want to forget that ArriveCAN, the federal government’s pandemic travel app that collected dead-simple information from arriving travellers and forwarded it to relevant officials for scrutiny, and that somehow cost $54.5 million — a figure no one has come within 100 miles of justifying, and don’t let anyone tell you differently. No one wants to remember the circumstances that supposedly made ArriveCAN necessary.

One could also certainly argue there are aspects of Canada’s pandemic response more desperately needing scrutiny. So, so many aspects.

But whenever the House of Commons operations committee sits down to investigate ArriveCAN, there are fireworks. And you start to think, maybe this godforsaken app is more key to understanding Canada’s pandemic nightmare than you first thought.

The latest blasts came on Tuesday, when Cameron MacDonald, director-general of the Canada Border Services Agency (CBSA) when the pandemic hit, alleged Minh Doan, then MacDonald’s superior and since promoted to chief technological officer of the entire federal government — pause for thought — had lied to the committee on Oct. 24 with respect to who picked GCStrategies to oversee the ArriveCAN project.

Doan told the committee he hadn’t been “personally involved” in the decision. MacDonald, who says he had recommended Deloitte build the app, says that’s garbage. “It was a lie that was told to this committee. Everyone knows it,” he said. “Everyone knew it was his decision to make. It wasn’t mine.” MacDonald said Doan had threatened in a telephone conversation to finger him as the culprit, and that he had felt “incredibly threatened”.

Crikey.

For those who’ve blissfully forgotten, GCStrategies consists of two people who subcontract IT work to teams of experts and takes a cut off the top — in this case a cut of roughly $11 million, for an app that should have cost a fraction of that, if it was to exist at all. Needless to say, that wasn’t the only fat contract GCStrategies — which, again, is two men and an address book — had received from the government over the years. Each GCStrategist made more money off ArriveCAN than I’ll likely make in my life. It makes me want to strap on a bass drum and sing “The Internationale” in public.

October 30, 2023

The rapidly fading market for “song investing”

Filed under: Business, Media, USA — Tags: , , — Nicholas @ 04:00

Ted Gioia called it over two years ago, and now it’s coming true:

The collapse finally came.

When I analyzed the song buyout mania, led by the Hipgnosis fund, back in June 2021, I predicted that this ultra-hot investment trend would “come to an unhappy end”. And now the collapse has arrived.

We’ve reached the endgame. The song fund’s share price has dropped 50% since I made that assessment — and now shareholders have voted to dissolve or reorganize the investment trust.

But where do we go from here? What are old songs really worth? And who will end up owning all these old rock and pop tunes?

Below I offer 12 predictions.

Much of what I have to say is harsh. That’s unfortunate — if I were a real judge, I’d err on the side of leniency. It’s never fun issuing such hardass verdicts. But if I claim to be the Honest Broker, I really have to stick with truths, even when (as in this case) they’re painful truths.

(1) Many musicians still want to sell their songs, but it will be hard to find generous buyers.
Bob Dylan got out at the top, but the times are now a-changin’. Musicians won’t get the big payouts available back in 2021. A telltale sign will be more deals with “undisclosed terms” — because nobody will want to brag about these lowball transactions.

(2) Professional financiers have finally learned their lesson.
The two big finance outfits promoting song investing, Hipgnosis and Round Hill, have faltered and will now sell the songs they bought. Sophisticated investors no longer believe the hype. So don’t expect to see the launch of new song investment funds any time soon. The remaining buyers will be bottom fishers and the terminally naive (described in more detail below).

[…]

(5) Look out for these vultures in all sectors of the music business.
When private equity firms knock on your door, it’s a sign that you’re already half dead. These folks actually enjoy picking on carcasses — which is easier work than hunting for live prey. I tend to avoid name-calling, but there’s a reason why some folks refer to them as vulture capitalists. That’s their specialty and their economic model is built on bottom-feeding. This is why private equity firms bought up lots of failing local newspaper, struggling local radio stations, etc. Guess what’s next on their list? Expect to see these tough hombres play a bigger role in all aspects of the music business over the next decade.

[…]

(7) This whole situation is a case study in misallocated investment capital.
There’s a general lesson here too. I realized, early on in my consulting work, that the single biggest mistake large corporations make is investing too much to keep their old business units alive — when they would be wiser putting that cash to work in new opportunities. The major record labels in the current moment are poster children for exactly this mistaken sense of priorities. They will support the “old songs” business model at all costs — it’s a core part of their self image — but return on investment will be dismal.

October 21, 2023

“… we’re not a business publication. One of them can point out that corporate governance is a joke in Canada”

Filed under: Books, Business, Cancon, Media — Tags: , — Nicholas @ 04:00

In the latest SHuSH newsletter, Ken Whyte reviews a recent BNN Bloomberg interview with Heather Reisman former-and-now-current-again CEO of Canada’s only big box book retailer, Indigo:

“Indigo Books and Music” by Open Grid Scheduler / Grid Engine is licensed under CC0 1.0

Heather Reisman gave an interview to Amanda Lang of BNN Bloomberg last week, her first effort to explain a summer of screwball management at Canada’s only bricks-and-mortar book chain.

[…]

How did Heather explain the zany sequence of events that started with her reporting Indigo’s fourth massive annual loss in five years in May; saw her booted in June from her role as executive chairman of Indigo, the company she founded, by her husband and controlling shareholder, Gerry Schwartz, along with every member of the board of directors who wasn’t personally beholden to Gerry; saw her spin her exit as a personal life-stages choice (“deciding when it is time to move on is one of the toughest decisions a founder must make”); saw her hand-picked successor and CEO, long-time British clothing retailer Peter Ruis, grab a seven-figure payout and make his own exit in September; saw the company announce that it would “act swiftly to find the right leader to move the company forward following Peter’s resignation”; saw Heather reinstated at the head of the chain two weeks later?

She didn’t. How could anyone explain that?

Heather bullshitted her way through the interview. It was all Ruis’s fault, she told Amanda. Indigo “took a journey off brand” under Ruis. She’d put him in charge of a book chain and “suddenly I was hearing that we were getting famous for selling $550 barbecues,” she said. “Somehow vibrators turned up in our stores and I remember saying ‘no, that’s not who we are.'” Ruis had “lost sight of … what our commitment is to customers.” He was “taking the business in the wrong direction” and it was showing up in the financials.

Heather claimed she’d been powerless to stop Ruis: “I was gone formally for over a year and informally for two and a half years in the sense that I was pulling back and not able to influence things.”

I scarcely know where to start. We could talk about the breathtaking ease with which Heather presented herself as a victim of Ruis while running him over with a forklift. How she hired a career fashion retailer to run what most Canadians still understand as a book chain and complained that he took the business off brand. How his barbecues and dildo merchandising was a logical extension of the cheeseboards and blankets merchandising she’d been doing for a decade.

If we were a serious business publication, we’d have to talk about her supposed powerlessness to do anything about the dildo-happy Ruis. The people who run public companies have duties to their shareholders, one of which is to keep them informed—promptly, honestly, transparently—about the management of the business. If Heather was gone “formally for over a year” and “informally for two and a half years,” investors should have known, right?

Let’s start with “formally for over a year.” Heather is referring to the most recent period of September 2022 to August 2023 during which Barbecue Boy was CEO of the company. Was Heather gone?

She was no longer CEO, a title she’d held for a quarter century, but according to corporate records she remained executive chairman of Indigo during that time, drawing an annual salary of almost a million. Titles matter in public companies. The difference between an executive chairman and a run-of-the-mill chairman is that the former is recognized as having an active role in the operations of the business, hence the executive-level salary. Executive chairman is higher on the org chart than CEO. If the company was moving off brand, betraying its customers, she was the one person with the formal role and the moral authority, as founder, to send the “four hours of fun” Firefighter Vibrator from Smile Makers ($75.00) back to the warehouse. Either Heather misspoke to Amanda last week about being “gone” or she spent her last year at Indigo misrepresenting herself to her shareholders and drawing a salary under false pretenses.

Magic In Metal (1969)

Filed under: Britain, Business, History — Tags: , , , , — Nicholas @ 02:00

PauliosVids
Published 15 Dec 2018

From the British Motor Corporation Ltd (BMC).

October 18, 2023

Why the Canadian Surface Combatant (CSC) program will cost so much more than equivalent US or British ships

Filed under: Business, Cancon, Military — Tags: , , , , , — Nicholas @ 03:00

In The Line, Philippe Lagassé outlines the Canadian Surface Combatant (CSC) program — the next-generation front-line combat ships for the Royal Canadian Navy intended to replace the current Halifax-class frigates and the already retired Iroquois-class destroyers:

Building warships is an expensive business, especially if you’re getting back into it after a few decades. Take the Canadian Surface Combatant (CSC). Fifteen CSCs will be built at Halifax’s Irving Shipbuilding to replace Canada’s current frigates and decommissioned destroyers. According to a 2022 study by the Parliamentary Budget Officer (PBO), the CSC acquisition will cost $80.2 billion. Given that defence inflation is well above regular inflation, and that regular inflation is running hot, that number isn’t going to go down.

Canada’s CSC will be a variant of the Type 26 Global Combat Ship originally designed for the Royal Navy. The Canadian variant includes significant changes to the original Type 26 design, notably to the combat systems. With the estimated per unit cost of each ship topping $5.6 billion, the National Post‘s John Ivison warns that the CSC is out of control. Ivison notes that the United States Navy (USN) acquired its Constellation-class frigates for $1.66 billion. Why, he understandably asks, is Canada paying so much for the CSC, and to what end?

The Canadian government always views major military purchases for the Canadian Armed Forces primarily as regional economic development projects and always attempts to get all or at least a major part of the construction done in Canada. To most people this sounds sensible: big military equipment acquisitions mean a lot of money being spent, so why shouldn’t most of that money be spent inside Canada? The answer, in almost every case, is that it will be significantly more expensive because Canadian industry doesn’t regularly produce these ships/planes/helicopters/tanks, so a lot of money will need to be spent to construct the factories or shipyards, import the specialized equipment, hire and train the workforce, etc., and no rational private industry will spend that kind of money unless they’re guaranteed to be repaid (plus profit).

Ordinary items for the Canadian military like clothing, food, non-specialized vehicles (cars, trucks, etc.) may carry a small extra margin over run-of-the-mill stuff, but it will generally be competitive with imported equivalents. Highly specialized items generally won’t be competitively priced exactly because of those specialized qualities. The bigger and more unusual the item to be purchased, the less economic sense it makes to buy domestically.

There are also the conflicting desires of the elected government (who generally want to target the spending to electoral districts or regions that benefit “their” voters), the permanent bureaucracy (who want to ensure that programs last a long time to ensure jobs within the civil service), and the military procurement teams (who have a tendency to over-optimistically estimate up-front and long-term costs because they want to get the procurement process underway … it’s tougher to stop something already in-process than one that still needs formal approval).

Once there’s a budget and capabilities are identified, the requirements for individual projects are prepared. It’s here that the comparison with lower cost, off-the-shelf alternatives runs into difficultly. The USN has lots of different types of ships that do lots of specific things. The above-mentioned Constellation-class is one of many different types of warships that the USN will sail, each with specific mission sets and roles. The Canadian military has only been directed to acquire fifteen CSCs, but the government expects the CAF to do a variety of missions at sea — not as many as the USN, of course, but still a good number. Canada has other military ships, including the Arctic Offshore Patrol Vessels (AOPS) also being built by Irving, but the CSC will be Royal Canadian Navy (RCN)’s primary expeditionary platform. Canadian defence planners, therefore, need those 15 ships to be capable of undertaking various missions and roles. Compounding this challenge are technological changes and the ever-evolving threat. The requirements for the CSC need to be continuously updated, and in some cases expanded, to keep pace with these developments, too.

An artist’s rendition of BAE’s Type 26 Global Combat Ship, which was selected as the Canadian Surface Combatant design in 2019, the most recent “largest single expenditure in Canadian government history” (as all major weapon systems purchases tend to be).
(BAE Systems, via Flickr)

On purely economic grounds, it would often make sense to add Canada’s order on to existing US, British, or other allied military orders to benefit from the economies of scale … but pure economic benefits don’t rank highly on the overall scale of importance. There’s also the understandable desire of the government to buy fewer items with wider capabilities as the government’s requirements for the military change with time and circumstance.

Were Canadian defence planners too cavalier in their requirements and design modifications? Maybe. Looking at it from their perspective, though, we should appreciate that they thinking about capabilities for a ship that Canada will use until the 2100s.

Doubts about the CSC are going to keep multiplying. The per unit costs can only increase so much before people start seriously discussing reducing how many of them will be built. You can be sure that some within government are already asking “Why 15? Why not 12?” Serious concerns are also being raised about whether the defence budget can afford to maintain CSC and keep them technologically up to date after the fleet is introduced. Given the CAF’s personnel recruitment troubles, moreover, it’s unclear if the RCN will have enough sailors to operate the full fleet. The first CSC that hits the water, furthermore, will have all sorts of kinks and problems that will need to be sorted out. That’s standard for first ships off the line, but you can be sure that every failing will be met with handwringing and charges of incompetence.

To address these concerns, the government must let DND/CAF better explain what the CSC is designed to do and why it needs to do it. Simply telling Canadians that it’s the right ship isn’t enough when it’s easy to point to lower-cost alternatives. As well, the government needs to be far more transparent about estimates of costs and what’s driving them. Political and public support for the CSC shouldn’t be taken for granted, and growing concerns about the program can’t be simply brushed away.

October 14, 2023

A Jacobite spy for Bonnie Prince Charlie

Filed under: Britain, Business, France, History, Military — Tags: , , , , — Nicholas @ 03:00

In the latest Age of Invention newsletter, Anton Howes talks about the career of John Holker of Manchester, cloth manufacturer, who joined the army of Prince Charles Edward Stewart in 1745, and eventually became an expert in industrial espionage:

Prince Charles Edward Stuart, 1720 – 1788. Eldest Son of Prince James Francis Edward Stuart.
Portrait by Allan Ramsay, National Galleries Scotland via Wikimedia Commons.

I’ve lately been reading about one of history’s greatest spies — not a James Bond-like agent with licence to kill, but a master of industrial espionage, John Holker.1

Holker was originally from Manchester, in Lancashire, where he was a skilled cloth manufacturer in the early eighteenth century, his specialty being calendering — a finishing process to give cloth a kind of sheen or glazed effect. But Holker was also a Catholic and a Jacobite — a believer in the claim of the Catholic descendants of the deposed king James II to be the rightful rulers of Great Britain, instead of the Hanoverian George I and George II who had only succeeded to the throne because they were Protestants. In 1745 James II’s grandson Charles, also known as Bonnie Prince Charlie — likely the “Bonnie” who lies over the ocean in the famous song — landed in the Scottish Highlands and raised the royal standard. Charles’s uprising defeated the British troops stationed in Scotland, captured Edinburgh, and then marched down the west coast of England, capturing Carlisle and entering Lancashire.

To Holker, who had been born in the same year as the last Jacobite rebellion in 1719, the arrival of Charles in Manchester must have seemed like a once-in-a-generation opportunity. He and his business partner instantly joined Charles’s troops and he was appointed a lieutenant. But Manchester was the last place to provide many eager volunteers for the uprising, and when Charles reached Derby he lost heart and turned around. Holker and his business partner ended up being left to garrison Carlisle as Charles and his force retreated into Scotland to hunker down, and they were soon captured by the British troops sent to quash the uprising. They were then, as officers, sent to Newgate prison in London to sit with their legs bound in irons and await trial and certain execution.

But they never made it to trial. In the first demonstration of Holker’s extraordinary talent for espionage, they escaped. Holker had been allowed visitors in prison, so had drawn on London’s crypto-Jacobite circle to smuggle in files, ropes, and information about the prison and its surroundings. They managed to file through the leg-irons and window bars, climbed up the gutters onto the prison roof, and then used planks from the cell’s tabletop to cross onto the roof of a nearby house. In the event, they disturbed a dog guarding the house, and so Holker hid in a water-butt and became separated from the others. He eventually found refuge at a crypto-Jacobite’s house, then escaped into the countryside before managing to make his way to France.

In France, Holker joined his fellow veterans of the failed uprising of ‘45, becoming a lieutenant in a Jacobite regiment of the French army. He fought for the French in the Austrian Netherlands — present-day Belgium — against the Hapsburgs, the Hanoverians, the Dutch, and the British. Even more extraordinary, however, was that when Bonnie Prince Charlie wanted to go in secret to England in 1750, it was Holker who went with him as his sole companion and guide. Although Charles failed to persuade his supporters in England to rise up in rebellion on their own, Holker managed to get the prince secretly and safely to London and back.

By the time Holker reached his early thirties he had been an industrialist, rebel, prisoner, fugitive, soldier, undercover agent, and even spy-catcher: he successfully identified a spy for the British in Charles’s circle, even if Charles failed to heed his warning. But in 1751 Holker’s career took yet another turn when he was recruited by the French government as an industrial spymaster.

Holker’s chief task was to steal British textile technologies.


    1. Unless otherwise stated, I’ve drawn much of my information on Holker and the industries that the French attempted to copy from John R. Harris, Industrial Espionage and Technology Transfer: Britain and France in the 18th Century (Taylor & Francis, 2017), particularly chapter 3.

September 24, 2023

A sliver of hope for Indigo?

Filed under: Books, Business, Cancon — Tags: , , , — Nicholas @ 03:00

In the latest SHuSH newsletter, Ken Whyte relays some new-ish rumours in the book business that may provide a bit of help for the struggling Indigo chain:

“Indigo Books and Music” by Open Grid Scheduler / Grid Engine is licensed under CC0 1.0

So what do we make of Heather Reisman’s return as CEO of the Indigo bookselling chain after her unceremonious removal from that role just two months ago?

The short answer is I have no idea, but SHuSH has never shied away from delivering irresponsible speculation on happenings at Indigo. I heard this week from a reasonably reliable source that Indigo is in discussions with Elliott Management Corp., owners of Barnes & Noble and the world’s only buyer of distressed bookselling chains.

This conflicts with some chatter I reported last spring suggesting that Elliott Management was uninterested in Indigo. If what I’m now hearing is true, it’s great news.

I have to emphasize, I have no idea. But if a deal were imminent, it would make sense to bring Heather back to see it through. Indigo wouldn’t want the bother of recruiting a new leader simply to effect the handover, and who would want the job on those terms?

And another thing …

In last week’s piece about Indigo, I noted that the company’s staff, “with exceptions, were young, inexpert, and disinterested”. Amal, clearly one of the exceptions, left an interesting comment:

    No. We became disinterested simply because a) we were all book lovers and had zero interest in selling crap and b) just like the author of this piece, head office and management were beyond dismissive of our knowledge, our book expertise, our genuine love of the written word. I worked at Chapters/Indigo starting in 2006 all the way until 2019, a couple of days a week, simply for my love of books. I am incredibly proud of my time there — especially when I was able to introduce new authors or genres to readers. My staff picks would sell out because I would hand sell them to people with my joy. It certainly wasn’t for the stellar pay or the people who treat retail employees like we are “inexpert”. Fun fact: you were asked in the job interview what your favourite books/genres were.

September 23, 2023

QotD: In which we discover why they’re called antimacassars

Filed under: Books, Britain, Business, History, Quotations — Tags: , , — Nicholas @ 01:00

“Antimacassar” is such a lovely Victorianism. We still have antimacassars — they’re those pieces of protective fabric you see at the top of your train or plane seat — but do you know why antimacassars are so called? Because in the nineteenth century Rowland’s Macassar Oil became such a popular unguent for gentlemen’s coiffures that the land was full of oily-haired chaps who, upon entering your drawing room, would settle back in your favorite chair — and uh-oh, there goes the fabric. Hence, the vital deployment of the antimacassar. Rowland’s Macassar Oil was one of the first products to be marketed nationally (and, indeed, internationally), and so universally known that Lewis Carroll put it in Alice Through the Looking-Glass:

    His accents mild took up the tale:
    He said ‘I go my ways,
    And when I find a mountain-rill,
    I set it in a blaze;
    And thence they make a stuff they call
    Rowlands’ Macassar-Oil –
    Yet twopence-halfpenny is all
    They give me for my toil.’

Better yet, in Don Juan Lord Byron managed to rhyme it:

    In virtue, nothing earthly could surpass her
    Save thine ‘incomparable oil’, Macassar!

Mark Steyn, “Self-Knitting Antimacassars”, Steyn Online, 2019-08-02.

September 21, 2023

This is York

Filed under: Britain, Business, History, Railways — Tags: , — Nicholas @ 02:00

Jago Hazzard
Published 28 May 2023

“Make all the railways come to York!”
(more…)

September 20, 2023

How the feds could lower grocery prices without browbeating CEOs

Filed under: Business, Cancon, Food, Government — Tags: , , , — Nicholas @ 03:00

Jesse Kline has some advice for Prime Minister Jagmeet Singh Justin Trudeau on things his government could easily do to lower retail prices Canadians face on their trips to the grocery store:

What exactly the grocery executives are supposed to do to bring down prices that are largely out of their control is anyone’s guess. Do they decrease their profit margins even further, thereby driving independent retailers out of business and shedding jobs by increasing their reliance on automation? Do they stop selling high-priced name-brand products, thus decreasing their average prices while driving up profits through the sale of house-brand products?

If the government were serious about working with grocers, rather than casting them as villains in a piece of performative policy theatre, here are a number of policies the supermarket CEOs should propose that would have a meaningful effect on food prices throughout the country.

End supply management
Why do Canadians pay an average of $2.81 for a litre of milk — among the highest in the world — when our neighbours to the south can fill their cereal bowls for half the cost? Because a government-mandated cartel controls the production of dairy products in this country, while the state limits foreign competition through exorbitantly high tariffs on imports.

The same, of course, is true of our egg and poultry industries. Altogether, it’s estimated that supply managements adds between $426 and $697 a year to the average Canadian household’s grocery bill. It’s not a direct cause of inflation, but it’s a policy that, if done away with, could save Canadians up to $700 a year in fairly short order.

Yet not only have politicians been unwilling to address it, they have been fighting some of our closest trading partners to ensure that foreign food products don’t enter the Canadian market and drive down prices. Ditching supply management would be a no-brainer, if anyone in Ottawa was willing to use their brain.

Reduce regulations
The best way to decrease prices in any market is to foster competition. As the Competition Bureau noted in a report released in June, “Canada’s grocery industry is concentrated” and “tough to break into”. Worse still, “In recent years, industry concentration has increased”.

So why don’t more foreign discount grocery chains set up shop here? Perhaps it’s because they know our national policy encourages Canadian-owned oligopolies. While grocery retailers don’t face the same foreign-ownership restrictions as airlines or telecoms, the products they sell are heavily regulated, which acts as a barrier to bringing in cheaper goods from other countries.

Although it wasn’t the primary reason for the lack of foreign competition, the Competition Bureau did note that, “Laws requiring bilingual labels on packaged foods can be a difficult additional cost for international grocers to take on”.

Other ways the federal government could help Canadians afford their grocery bills include:

  • Jail thieves
  • Stop port strikes
  • Don’t tax beer
  • Axe the carbon tax

Don’t hold your breath for any of these ideas to be taken up by Trudeau’s Liberals.

September 18, 2023

It turns out that buying up the rights to old rock songs wasn’t a good investment after all

Filed under: Business, Media, USA — Tags: , , , , , , — Nicholas @ 03:00

Ted Gioia enjoys a little bit of schadenfreude here because he was highly skeptical of the investments in the first place, although the geriatric rockers who “sold out” seem to have generally made out like bandits this time around:

Back in 2021, investors spent more than $5 billion buying the rights to old songs. Never before in history had musicians over the age of 75 received such big paydays.

I watched in amazement as artists who would never sell out actually sold out. And they made this the sale of a lifetime, like a WalMart in El Paso on Black Friday.

Bob Dylan sold out his entire song catalog ($400 million — ka-ching!). Paul Simon sold out ($250 million). Neil Young sold out ($150 million). Stevie Nicks sold out ($100 million). Dozens of others sold out.

As a result, rock songs have now entered their Madison Avenue stage of life.

Twisted Sister once sang “We’re Not Gonna Take It”. But even they took it — a very large payout, to be specific. A few months ago, the song showed up in a commercial for Discover Card.

Bob Dylan’s song “Shelter from the Storm” got turned into a theme for Airbnb. Neil Young’s “Old Man” was rejuvenated as a marketing jingle for the NFL (touting old man quarterback Tom Brady).

Fans mocked this move. Even Neil Young, now officially a grumpy old man himself, expressed irritation at the move. After all, the head of the Hipgnosis, the leading song investment fund, had promised that the rock star’s “Heart of Gold” would never get turned into “Burger of Gold”.

That hasn’t happened (yet). But where do you draw the line?

I was skeptical of these song buyouts from the start — but not just as a curmudgeonly purist. My view was much simpler. I didn’t think old songs were a good investment. […] But even I didn’t anticipate how badly these deals would turn out.

The more songs Hipgnosis bought, the more its share price dropped. The stock is currently down almost 40% from where it was at the start of 2021.

Things have gotten so bad, that the company is now selling songs.

On Thursday, Hipgnosis announced a plan to sell almost a half billion dollars of its song portfolio. They need to do this to pay down debt. That’s an ominous sign, because the songs Hipgnosis bought were supposed to generate lots of cash. Why can’t they handle their debt load with that cash flow?

But there was even worse news. Hipgnosis admitted that they sold these songs at 17.5% below their estimated “fair market value”. This added to the already widespread suspicion that current claims of song value are inflated.

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