RSSJuly 2005 Archives
July 29, 2005
As a kind of fare well to livejournal, more scummy expat musings. (Updated with new and improved...)
A self indulgent reflexion.
First, a funny message yesterday from an overseas colleague who I saw while travelling two weeks ago brought home a rather simple lesson which may be summed up as follows: "It is always a mistake to go with a colleague of the opposite sex to a scummy bar that involves stripping." I note that I was not the author of the destination decision. Silence, only possible reply.
Also probably should not have had quite so much to drink during said visit insofar as I can only vaguely recall leaving - thank God that I did though. Very uncomfortable that.
Second, the new apartment is working out not badly. The somewhat unfortunate walls are growing on me, although I have now learned that the co-owner of said apartment has scheduled an irrevocable partnership signing date. Well, I creatively forgot about this twice, but barreling down on me now. Bloody hell, ah well most multinational joint ventures end in failure. Will this one beat the odds?
I have no idea, I can only share that in confiding this to a longtime friend, he told me that when he told his wife -who has had the misfortune of both being married to him and knowing me- she dropped the phone. That seems a bit excessive.
Otherwise, one of the things I enjoy about my new terrace is (besides its better sun facing, although have to find ways to deal with the apartment heating up � hate air conditioning, window fans are probably the best choice) that there is a highly sporting woman across the way � I mean across the street at a similar balcony level � who besides (despite wearing something of a traditional hijab) being rather fetching makes interesting noises late at night. Not that one would hear if one was not out on one�s balcony late at night, but nevertheless.
I have to ponder, is she a professional?
One of those things that should remain a mystery, for either answer is likely to take the bloom off the rose, as it were.
Nevertheless, the fetching young maiden in the head wrap (I hope I am not getting my hearing wrong, should be very disappointed if I were) I think will amuse me for months to come.
Otherwise, this new Fund negotiation seems positive so far except for their tedious insistance that I come to the United States. Have not yet succeeded in selling them on the value add for them of my continuing my scummy existance as an expat.
Finally from Central we have received yet another absurd "question / demand" regarding why in our reporting we have not been providing receipts for taxis, parking and the like. I wonder how many times I have to explain "THE MOTHERFUCKING TAXI DRIVERS ARE LARGELY FUCKING ILLITERATE, AND THERE ARE NO FUCKING METERS, AND THE BLOODY 'STREET GUARDIANS' ARE ALSO FUCKING ILLITERATE MIGRANTS STRAIGHT OUT OF THE BLOODY BLED, FOR IF THEY WERE FUCKING LITERATE THEY'D WORK A SLIGHTLY LESS AWFUL AND POORLY PAID JOB, YOU CLUELESS IDIOTIC TIME WASTING VALUE SUBTRACTING DIMWITTED GITS."
I expect this will continue until my resignation. I've set a deadline, the New Year, resigning and fucking off. Let the Titanic sink beneath the waves. Or maybe end of First Quarter, insofar as I have recently had my analysis and propositions on what business they should be focusing on validated by outside sources, and I would get some strange pleasure out of leaving them just as they were trying to ramp that up.
I note - thanks to a comment by Pantom - that I now live closer to a famous landmark, and am considering, why not the Blue Parrot? It should exist.
Posted by The Lounsbury at 04:10 PM
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Iraq: Peculiar and Misunderstanding Journals
I got this comment on my brief comment on an Iraqi brokerage (
Continue reading "Iraq: Peculiar and Misunderstanding Journals"
Posted by The Lounsbury at 01:29 PM
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Jan-July 2005
July 25, 2005
Email and the like
Checking email from afar, I am touched to find that Embassy wants to know if I am still alive. I helpfully let them know that as of yet I have had the good graces to not get blown up on their watch and was not doing vac in Egypt, although suffering from the attentions of a European airport staff is almost as bad.
Also Central has suddenly sent around a note to overseas staff requesting emergency contact information in case "of need." I suppose they're counting the days until one of us gets blown to bits. Wonder if it would be entirely tactless to raise the concept of danger bonuses. Not that I need one, but why not extract a concession or two?
Finally, a note from a colleague asked me to transfer to his office as he needs people "with well developed character" around.
This last item puzzled me - "well developed character."
Hard to read that.
Posted by The Lounsbury at 03:31 PM
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July 23, 2005
On The Road During Bombing Week
At present stuck in a European airport whose benighted service (one can guess which one) almost approaches the horrors inflicted upon one flying international to the United States (I share for you the near universal disdain among my fellow business travellers for the chicken little over the top insanity of US airport security which since my last visit has gotten yet more idiotic. But details are for another time).
I note via this entirely inadequate wireless connexion that I see Egypt has had another bombing. Looks bloody bad. It has been an interesting week.
Regular collounsbury service resumes when back to home base, next week.
Posted by The Lounsbury at 04:54 PM
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July 18, 2005
Stunningly bad
I had dinner with some senior finance and US officials this evening, and discussed with them a concept that is being batted about among US Gov re a equity fund for the region. I was in love with this until this evening. As I listened I went from being voluble to silence. It is so stunningly badly conceived as to take my breath away. Among the key snippets I share is the argument from the main US Gov mover on this, that they could use the proposed fund to lobby and force political change.
Continue reading "Stunningly bad"
Posted by The Lounsbury at 11:00 PM
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The US of A
Back in the States for the first time in quite a while. Always amused by how fat people are. Tubby people everywhere. Of course ever escalating portions I note seems to be reaching Roman levels of gluttony. Connexion?
Regardless, going to be very busy packing in meetings in my rare pilgrimage to the centers of power and the like.
Everyone seems to taling about the Karl Rove and Plame issue. I find the topsy turvey politics peculiar, but unsurprising. Rather clearly they leaked a secret agent's name for sordid political score settling. Law aside, that should be punished, sordid political score settling should be within certain bounds. I'm unhappy the "Conservatives" - or as I have taken to refering to these people, Right Bolsheviks - do not see that sometimes one has to cut out from the fold for one's own good. Having Agency people involved in open political warfare is a bad, period.
Well, no matter, not my concern in the end.
Else I draw attention to this important article in The Washington Post.
In Egypt's Countryside, Farmers' Anger Seen As 'Silent Time Bomb'
Recent Revolt Over Rents and Evictions Draws Support of Mubarak Opponents
By Daniel Williams
Washington Post Foreign Service
Sunday, July 17, 2005; Page A16
http://www.washingtonpost.com/wp-dyn/content/article/2005/07/16/AR2005071601172.html
Will comment on later.
Posted by The Lounsbury at 03:22 PM
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July 16, 2005
Turkish Developments
On the road at the moment, I note reports of the resort bombings in Turkey, one of which is reported to have a Kurdish connexion.
Posted by The Lounsbury at 11:41 AM
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July 14, 2005
Various things
As I prepare to fuck off we get (as usual from on high with no preparation) an annoucement that management is restructuring central. The key take aways after reading the long PRish and yet poorly written note was my favorite MD is fucked and on her way out, and that the organisation is now entering a new, uniquely self destructive phase of running around like lunatics in panic because the iceberg ripped its guts open.
Continue reading "Various things"
Posted by The Lounsbury at 02:35 PM
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Iraq Brokerage Comment
Well, at the request of Jerry I had a look at the brokerage site of www.isx-aman.com and company.
Interesting to be sure. My remarks are inherently superficial as I haven�t much time, but some initial thoughts.
Continue reading "Iraq Brokerage Comment"
Posted by The Lounsbury at 09:35 AM
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July 13, 2005
Banks, Banks and Drooling Morons
I am pleased to announce that the general strike in the banking sector has, in the interest of protecting the opporessed wage slave comrade bankers from (gasp) working an extra half hour, succeeded. The whinging cowards that run this country have backed down in the spectre of unionised bankers in bad pinstripe suits taking to the barricades over the burning issue of wage slavery (yes, wage slavery) in the sector, as suggested by the evil plot to re-arrange working hours.
Continue reading "Banks, Banks and Drooling Morons"
Posted by The Lounsbury at 11:58 AM
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July 12, 2005
Lebanon: The Lebanon II Scenario
No substantive commentary, but I draw attention to this:
Lebanon Deputy Premier Wounded in Blast
The target, a pro-Syrian politician.
I opined months back that I did not like the US supporting a maximalist approach to opposition politics because of the chances of playing into returned inter (and intra) communal violence.
The overall analysis behind this is that while, yes, a majority of Lebanese do not want a return to civil war, as in Iraq, and as in Lebanon - it is not the majority that makes these things happen. One simply needs enough hard men on either side who can make a profit in some manner, via power or money, to push it, and enough weakness on public authority side to be unable to choke the trend off.
Lebanon probably can choke the trend off, but the state is just weak enough that this can't be dismissed.
I also note the potential for a currency crisis which could help precipitate serious tensions.
Posted by The Lounsbury at 10:16 AM
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Sham-Levant
July 11, 2005
Bastards
Well, looks like I bet wrong on who gets the new telcom license. Thought the Egyptians would weasel their way in. Still looks like a well run tender and decision.
Posted by The Lounsbury at 03:46 PM
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Jan-July 2005
Various items of little import
First, having just fielded a call from the other side of the great Atlantic, I am irritated at the monolingual morons bizarre habit of making up their own names for dfis here, usually via bad translation, and then creating an acronym in English for it. I'm getting ask (as an example not the actual question) about the NEDB and blah blah, and my first reaction is "what the fuck is this person talking about, there is no NEDB bank." After some probing, I discover it is actually the BNDE. What the bloody hell was the point in translating the name and then making up your own bloody acronym off of it, that no one the fuck else uses.
Idiots.
Second, friend in town, excellent fellow, known for years. American convert to Islam, right-headed fellow how never fell into what we often refer to as "convertitus" (or being more Muslim than your average Mohammed). He's travelling around this fine country, came into town to visit his corrupt dissolute scummy expat amigo (me of course). Late. Explanation was properly amusing, but also reflects on current events. Being a conniesseur of fine mosques, he had been making rounds in the prior city, made the mistake of rapping with some bearded types (perfectly innocent by his account, which I trust given his experience) when our local Mukhaberat came round to inquire as to the cut of his jib. Four hours of detension and questioning followed for all involved. He was properly put off by the experience, but after rapping with him yesterday I pointed out the emerging network issues in re London - doubtless local authorities are under much pressure to look for strange Euro looking convert types. (Actually he's rather whitebread and preppish, none the of hippy wearing oddball "genuinely Islamic" pastiche wearing silliness one sometimes sees, nor Ikhouane-esque Wahhabite style clothing). Close call, although lacked much deep entertainment value like my last detension - what's a detension if you don't have a gun pointed at you, I say.
I should, when I get back, speak to thoughts on the North African connexions and the like.
Added, for Pratike: there is no Morocco-UK animosity. Moroccan or wider Maghrebine involvement would be entirely on the al-Qaedah thesis of Dar al-Islam at war with the Dar al-Harb / infidels, and in particular the Iraq invasion angle. You know, imperialist dogs and all that.
I should note that Moroccans I know (and I confess I know more than my share) have been universally horrified. For them, brought back rather bad memories of their Casablanca bombings.
Posted by The Lounsbury at 01:18 PM
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A Collounsbury Take on Frontier Investing
This was written for comments re investing in Iraq, thought I would reproduce as I rather like it on some level:
The Problems
That aside, 30 percent is a quality return, if and when you realise it. Thin illiquid markets can often show "quality returns" without being able to deliver the liquidity to realise. [In short, a market under buying pressure but little liquidity may appear to be delivering healthy returns, but when it comes sales time to realise, the same mechanics can make it impossible to sell without serious discounts, i.e. price decline - liquidity is the key, else one is trappe, many an emerging markets investor learned that in the gogo years of the emerging markets stock market boom of the mid-1990s.]
Further, electronic trading systems [noted in relationship with Iraq] have never stopped front running, playing with orders and the like. They make it a slight bit harder, but w/o oversight you have false confidence. Among the many things you need is delivery against payment with an operative guarantee system (still doesn't remove the risk as I have seen personally, but helps), and one has to be sure it is operative.
But what the fuck do I know, I've only seen it done in these markets under an electronic trading platform that was and is state of the art.
Finally on the underlying peg discussion, Frankel's theoretical proposal [in an article in the Financial Times suggesting a basked peg with roughly 1/3 Euro, 1/3 dollar, 1/3 weighted price of oil] is an interesting one as a variation on a crawling basket peg, although your online discussion takes his phrase rather far too literally in a classic case of seeking justification for a desired result. The obvious item, rather than the appreciation issue itself or false analogies to post-WW II Germany, to analyze is what a large appreciation means to the Iraqi economy. Any large, short term currency move is a shock to the real economy and few real world policy makers generally avoid such for very good reasons. In Iraq the play off is between current cost of consumption versus current income. That breaks out between consumption of domestic goods and that of tradeables - imports - although obviously some domestic goods depend on imported inputs. Immediately exporters lose the X percent of income, consumers of imports gain X percent of buying pozer, an implicit subsidy to consumption of imports and an implicit tax on domestic production that competes with imports. In short a penalty to the domestic producer economy ex-hydrocarbons.
Second of course, is the impact on real investment (in explicit contrast to speculative hot money such as yours). An X percent appreciation due to a revaluation on a peg immediately raises the cost faced by foreign currency investors for Iraqi assets, with no change in potential returns in the near term, insofar as no economic fundamentals, ex the penalty to real productive economy that is import competing (but with a boost to productive economy that has imported inputs, to the degree they are import factors and cost drivers). It is an effect a penalty to incoming money - as say for example the private equity fund I have consulted with which has USD 70 million in hard currency raised. [I of course did not touch on the disruptive effects of serious real price deflation]
Now, obviously Iraqi policy makers should be looking at these real economy choices, and not things that make hot money speculators happy. It may be that they will decide that subsidising current consumption of imports and current capital imports is more important than creating a stable real economic environment that is well-priced in regards to real assets and allows export competivity. Choosing near term "gifts" to urban consumers, who are heavier consumers of imported goods and services (running from food to white goods) than others typically in this kind of environment, and subsidising capital imports to the detriment of labour competivity is a frequent choice in these economies - certainly Egypt managed to do this ever so brilliantly over the last 30 years with a "strong pound" regime partially backed by its nat gaz and petrol exports.
I certainly hope they don't - but then to you this is merely being "negative." Contemptible speculation aside, I favour the real market and policies to grow it.
Posted by The Lounsbury at 10:07 AM
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In presenting your new payment facility
Do not, I repeat, do not call it an "Islamist payment facility" - it's "Islamic" - Islamist means something else you idiot illiterate marketing goon.
Bloody hell, these idiots will want to roll out an Qaeda Basic Islamist Finances Services Platform next.
Posted by The Lounsbury at 10:03 AM
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Timely
http://www.washingtonmonthly.com/archives/individual/2005_07/006691.php
Posted by The Lounsbury at 09:55 AM
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Radio Silence
Nothing to do with my rebranding exercise, have to get a report out and then travel on some extremely tedious business.
Posted by The Lounsbury at 09:23 AM
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July 08, 2005
Last note
From a moroccan paper, in English for you all, on reactions to London:
http://www.moroccotimes.com/paper/article.asp?idr=6&id=7973
Posted by The Lounsbury at 11:33 PM
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Rebranding excercise
As a rebranding excercise, I am renaming this little blog
"Collounsbury Random Rant on MENA & Other Items"
Also, in the near future I am going to impose some .... controls and accessing some portions. I note issue of "interesting" site readership and my own aversion to spotlight has arisen.
Posted by The Lounsbury at 11:00 PM
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July 07, 2005
London: Bombings 7 Jul AM
This looks really unpleasant:
Explosions cause chaos across London
By Matthew Jones and Christopher Adams
Published: July 7 2005 09:48 | Last updated: July 7 2005 11:02
Multiple explosions on the London Underground and on three buses have left dozens with terrible injuries and caused services to be suspended across the city in what appears to be a co-ordinated terrorist attack.
Have to email the friends.
updated
Well, no one I know was involved.
Rather expect serious death toll in the end.
Interesting exchanges on items, talked about the IPO the head of the small cap exchange, who was glad to hear some positive news, given his offices were evacuated and he was trying to run things from off site. Promised to send couscous. Had a surreal meeting with an asset manager in town prospecting for clients (probably should have done his homework on the capital controls here before coming, but no matter. Talked about Abraaj and the like); convo turned to his London meetings next week and the awkward question of whether any of his contacts might not be available.
One rather suspects an al-Qaeda connexion here, but should not jump to conclusions.
Had the usual fights about our quarter report, which central wants to get out early - why the fuck they have to do these things in such a disorganized manner escapes me, but growing used to it. Remains a puzzle their bizarre management style, devolving shit to the field and micro-managing.
Very tired, bit drained from this London nonsense. Odd how draining these things can be. Stressful I suppose.
Posted by The Lounsbury at 10:26 AM
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July 06, 2005
Last item
Very good arty from FT on MENA markets:
http://news.ft.com/cms/s/a66c3ca8-ed8a-11d9-9ff5-00000e2511c8.html
Will try to do an Aqoul item on this.
Posted by The Lounsbury at 06:33 PM
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As an aside before pissing off
It appears I have upset the loons:
http://www.investorsiraq.com/showthread.php?p=74111
My last read of this shows that already my scepticism in regards to their dreams is attributed to some bizarre idea that "I want Iraq to fail" and a particularly entertaining digression about "freedom."
Although there was a kind and rational invitation to discuss things with them, I am afraid the frothing and irrational responses highlight the inescapable conclusion that the major motivation for most participants is a rather simplistic domestic political calculus. That is, their politics are in the drivers seat, not a cold analytical view of Iraq.
Nothing surprising in that, a bit pitiful, but what can we say?
Odd in any case that they picked up on my mocking them a week later, I had lost interest already.
It does make one become more interested in promoting a political fund for persons with more politics than analytical acumen. Structuring is of course the issue, along with (as discussed elsewhere), advertising. On the other hand, an exchange traded fund domiciled ... J or G or maybe Dubai? Can't recall if Dubai or Bahrain has the proper legislation for ETFs.
Posted by The Lounsbury at 06:20 PM
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IPO
I am a happy man, the IPO came in ten times over. Just got the call. And here I was getting paranoid that the underwriting syndicate was going to end up sucking this up. I is one content and validated bastid. I shall have to celebrate.
Update:
Even better, got the official numbers, 11.7
Excellent, excellent without a doubt.
There is indeed some liquidity to soak up.
Posted by The Lounsbury at 05:42 PM
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Jan-July 2005
London
I see London had the misfortune of winning the Olypmic competition.
If I was a Parisian I'd be whooping it up right now, celebrating my good fortune that my city was spared the annoyance and needless expense of the Olympics.
If I were a Londoner, I would be quitely drowning my sorrows in a pub over the anticipated rate hikes and chaos, as well as hordes of clueless morons due to descend for the event.
I was lucky that this place dodged the bullet in its ridiculous pursuit of the World Cup.
Posted by The Lounsbury at 02:39 PM
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Jan-July 2005
An aged BBC Article, but properly sums up the Live8 nonsense
http://news.bbc.co.uk/1/hi/entertainment/music/4079958.stm
No African musicians, a bunch of aging yobs and idjits. Patronisaing facile leftist anti-globo bloviating......
There it is, the fat-assed "progressives" on developing world in a nutshell.
Posted by The Lounsbury at 01:12 PM
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Jan-July 2005
On US Gov and Media Reform, an email
I reproduce here an email from a friend of mine in private equity and media in the Middle East, located out there. And an Arab too, not some whinging expat (ahem).
It is lightly edited to scrub certain references and the like, but I share it for its interest. I note that some US Gov types wanted to meet with media actors, including from the business side. I made the introduction. Here is my amigo's note afterward.
[The Girl with the Laugh] from [The US G Entity] came over this morning to the offices. I hope they do better with media than what they did with technology projects here. I was strongly against pouring money into NGOs and studies. I told her, if you want to make media work, facilitate a healthy environment that enables media start-ups to get healthy institutional investors on pure business considerations.
[some other irrelevant stuff]
Hope you ppt went well, and I look forward to the Bourse material/introductions
Well there it is, one Arab media investor's view of US G thinking on what I suppose is probably going to be a new effort rolled out soon on pissing away money on badly conceived attempts to change the Arab media.
Posted by The Lounsbury at 11:47 AM
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Schedules
Comrades
Have to fuck off for meetings, lots of travel coming up. May be a bit silent. Advance warning on that. Not dead as of yet.
Promised, rant in regards to collapse of FTA issues and childishness of local decision makers.
By the way, I note that the readers, or some portion of them, of the "Iraq Investors Forum" [sic] have come to comment on the 28 June entry or so. You should enjoy.
Update
I forgot to mention that the Put on yours truly has been called. I found an "important" envelope this morning as I staggered out from the bed room to try to flush away the Cuban materials, that fueled a long note on the state of the local securities market, still kicking around in the system.
Contained therein: guidelines on requirements for foreigners to sell their soul and become permanently (or at least legally difficult and expensive to unwind) to the country. Something I contemplate with a mixture of bemusement and horror, but no matter. At least I am "in the money" as it were.... shouldn't have copped to the bloody augmentation, that was clearly an error. Or perhaps I shouldn't have copped to not being entirely happy with the salon.
Well, no matter, I suppose after some delaying tactics to avoid payoff (this being an unregulated market), I shall have to deliver on the contract.
Posted by The Lounsbury at 09:29 AM
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July 05, 2005
'Aqoul - Camel's Thorn, ongoing
Well, again a short note to indicate that I had at it, and I do believe I am going to like 'Aqoul (I by the way explain the rather arch reference in my personal intro for those of you that are curious).
This aside, on the matter of the blog, as it is a group blog, and not the main attention of most of the authors, I suspect (and please do correct me if I am wrong) that a diversity of authors will be required. The mistress of this little flight of madness, eerie, is the controller as it were - the Board of Directors. Main investor. Etc. However, for those interested in making the occasional contribution on MENA, please do drop me a line and we can arrange things. Do note, for the moment as the blog tries to find its own "voice" among differing authors everything is getting a look over - even and perhaps most especially me.
I think it wise. Regardless, drop me a line at my yahoo address for further information.
Posted by The Lounsbury at 10:47 AM
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General Strike, Bankers
Well, today we have something that has to strike any good Anglo Saxon as bordering on the surreal. A general strike declared by the bankers or rather the union that represents the bankers (this being a Code Civil country, we have unions for just about every possible profession, no matter how useless or surreal).
This on the pretext that the adoption of normal banking hours represents �slavery� � yes slavery. Indeed it is slavery to have one�s work hours changed from the highly theoretical 8 to 12:30 � 14:30 to 18:00 to the no doubt equally theoretical 8:30 to 12:30 1:15 to 5:00. A trivial change which merely reduces the Sacred and Inviolate Lunch hour, in theory, from 2 hours to 45 minutes, but lets one out earlier.
So, the Trade Unions have declared strikes to fend off this evil �Anglo Saxon� intrusion into the �social order� which represents a new form of �slavery� for the oppressed � yes oppressed! � bank wage labourers. These poor Financial Sweat Shop slaves will have a reduced opportunity to disappear for many hours during the day.
Speaking from experience, the real Sacred Lunch Pause runs from Noonish through to 15:00, as a bit of padding on either side is considered �established practice� � you know it would slavery, absolute slavery I say, to expect the poor oppressed Financial Sweat Shop labourers to say pick up their fat kids from the private schools ( a colleague informed me gravely � only her wearing the latest French fashion of rather transparent linen allowed me to not laugh as I was otherwise somewhat distracted by the Mediterranean region tendency to having frontal space � that �not everyone can afford a maid to pick up their children from school.�) and feed them the latest pastries and other plumpness inducing rot.
Now perhaps I am an evil purveyor of the vague conspiracy called �The Washington Consensus� but I think presently rebaptised, �the Neo Liberal Agenda� or some such rot, but I was unable to shake the sense of utter surrealism involved in this farcical revolt against what is in the end a fairly trivial adjustment of working hours. It does illustrate my utter contempt for the organised �labour movement� in the MENA region and its leftist twit moron allies in the West who eat up the posturing agitprop without a second thought.
Fine slogans, but in reality they represent nothing but cynical posturing.
Rather reminds me of the Academic Left�s howling when the CFA, the French backed African franc had to devalue (something like 50 percent as I recall). Much commentary was made at the time (early 1990s) about the evils of the Washington Consensus, how this was going to impoverish Africans, the evils of higher costs of pharma products, etc. Tear jerker stories.
A few points emerged from looking at this hysterical, ill-informed and largely wooley headed liberal arts student, graduate or otherwise, driven bleating.
First, it was largely driven by the largely westernised urban �intellectual� elites ( I mean that in the proper sense of current income elite) complaints, who such people (even if they pretend otherwise), largely speak to or are influenced by. This is not to accuse anyone of bad faith, quite the contrary. Being an economist or economically trained businessman, I rather prefer to leave aside morality in these conditions and look at interests.
What, then, would be the interests? An (artificially) overvalued currency is an implicit subsidy to those consuming foreign goods and services, as well as of course importers of capital. It is an implicit penalty to domestic producers of any kind (services, basic goods, whatever).
Well, enough on this.
Posted by The Lounsbury at 10:30 AM
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Jan-July 2005
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July 04, 2005
On Intellectual Property and Clueless American Git Lawyers (updated)
As I suspect this is too collounsbury for Aqoul, plus must keep my charming side up (ah yes as an aside to lawyerly readers - or one rather - I got the note on the fund issue will reply asap):
Recently I was at a consular event with the charming and dear British club (named after the charmingly porky Churchill) in its charmingly archaic setting, where I had the occasion (I should say the misfortune were I not entertained by the opportunity) to chat with the wife (or lover or some such) of a financial sector contact, a somewhat slump shouldered blonde from the Carolinas (or something like that, I confess my Anglo heretic ancestry and hundreds of years of well founded yanqui contempt for the South leads me to regard the entire southern United States as a backwards swamp of cretins. I can only say that spending a decade as the off and on intimate companion of that rare creature, a black female American bank vice president of Southern extraction only reinforced these prejudices [not in re her, she and her husband are excellent friends of mine to this day]).
The woman turned out to be a lawyer. Pity that, but we can not hold all sins against everyone one. Worse, she turned out to have worked with both my former employer and the clumsy market destroying imbeciles of Monsanto, and she is a specialist in intellectual property. Worse yet, she worked on the bio-engineering issues that I worked on, in the more business end.
I can only say that meeting an attorney who once worked on the benighted market killing legalistic narrow minded scum managed Monsanto�s efforts in genetic engineering provoked me a bit. Worse yet, she claimed to be a �true believer� in intellectual property rights (i.e. a short sighed economically illiterate hack for the market destroying morons).
This provoked a somewhat gauche and unpleasant conversation on IP rights in the region and what I politely called the �rude American idiocy of forcing things beyond any commercial rational.� I believe, if I recall my own inopportune turn of phrase, that in response to her sally re business opportunities (for her benighted American law driven views on IP law) in pharma sector IP rights that it would be �disastrous� and �fucking bloody counterproductive� to sue local firms on pharma doubtful IP infringements (the local market is not known to be a major scofflaw, and follow Euro standards in general) since you end up automatically the bad guy or as I put, �What kind of fucking market do you build suing the impoverished for a percentage? There is no fucking market upside.�
Fucking lawyers. I ranted on (to her evident discomfort, but the bitch only speaks Southern English, not even local languages, I certainly hope she is a good fuck else she is a liability for my amigo � bastard bloody well should not be associated with idiotic market killing Rich Americans sueing impoverished locals) about how lawyers never looked at realistic cost-benefit analyses on pushing suits, above all in re �total cost� to market. Fucking Monsanto followed people like her and fucking blew up the motherfucking gen modified market through their lawyer driven strategy. IPO rights are a social convenience for promoting innovation, not a divine right, and the smart firm in socially sensitive sectors with public policy and PR issues is sensitive to this.
But this idiotic bitch wants to bring American style �super� IP law to the MENA market. I am afraid I was quite rude (despite her intimate connexion with someone I like and respect in my field) about how stupid she was.
Fucking idiot lawyers. ( I note for my readers and in particular certain who I know that this, is aimed at the � well you know who you are and what I am saying. I also despise ignorant empty lawyer bashing, but I think we can agree that this sort of idiocy we mutually despise as counterproductive.)
Now, returning to a bit more substantive reflexion. Property rights are indeed important, and intellectual property rights as well. However, there are always trade offs. Certainly the idiot mentioning in particular enforcing pharma rights rather set me off as if she knew the least thing about international property rights developments, she would know that the Big Pharma companies broke their noses stupidly going after South Africa on this kind of issue (in that instance AIDS drugs), where a softer, less litigatious approach would have served them far better. Bad PR has a cost, above in this kind of business.
Posted by The Lounsbury at 05:12 PM
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Jan-July 2005
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Reflexions on Outsourcing - via an apartment
Let me utilise some personal whinging to illustrate why outsourcing is not easily done, nor likely to be the great threat that frightened Western commentators make it out to be. Quality of delivery and poor developing world understanding of more developed markets expectations.
In this case, it happens to be me, the Development Market, and the various people, but essentially the woman who I outsourced all preparations to. This proved not to be a disaster but to have come in well-under expectations due to a mismatch in conception about what "quality materials," "moderate goals" and similar phrases thought to be well understood.
Now the result is not atrocious, it is minimally acceptable although it is the sort of thing I shall, when persons enter, have to do some plausible deniability sort of dancing so that no one thinks that I actually had a hand in it, directly. Ex-my smug fobbing off of all the things I did not want to do. Outsourcing.
Rather more complex an operation than one thinks.
I note, by the way, as a real datapoint that while outsourced services from Europe are a huge potential market, we have seen a number of initial entrants pick up stakes for reasona effectively similar to why on the next apartment finishing round, I shall take full control.
Posted by The Lounsbury at 04:41 PM
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Jan-July 2005
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Perso
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Perso-Expatedness
Well, here it is: the new site - Aqoul.com
Aqoul.com is open for business.
I made a long self indulgent introduction which few will read, but no matter.
I also attacked a fellow author in a long diatribe/rebuttal. Wasted too much time on that, but his stale Lefty talk irritated me. Bloody English major type "analysis." Smart fellow, could do better.
Now, will I republish here. It's idea to keep both going. Not sure if it is a good idea or not.
Ah yes, some entries that I liked already:
On Buildings and Property Rights
http://www.aqoul.com/archives/2005/07/cairos_collapsi.php
by eerie.
On intra-GCC relations
http://www.aqoul.com/archives/2005/07/burning_bridges.php#more
by secretdubai
Posted by The Lounsbury at 04:37 PM
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Blog Notes - Admin
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Jan-July 2005
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Old Livejournal
Happy American Independance etc.
Well, the firm itself is celebrating the Homeland's (the word homeland is oddly ugly come to think of it) independance, but work must go on.
A quick word: I am going to be experimenting with keeping this little site and Aqoul as posting areas. It probably will be a failed experiment given my laziness in these areas (a mere hobby after all).
As such sometime in the next 4-24 hours (like the span?) I shall be posting there as well.
Posted by The Lounsbury at 10:42 AM
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Jan-July 2005
July 01, 2005
Idiots: Marching in al-Qods
Stabbings at Jerusalem gay march
Attacker stabs marcher: Religious groups opposed the march going ahead
A religious protester has stabbed three people taking part in an annual gay pride parade in Jerusalem.
http://news.bbc.co.uk/2/hi/middle_east/4639731.stm
I had read about this previously, and thought it stupid, so let me say that organizing a gay pride march in Jerusalem is fucking stupid.
I have nothing against such marches as such, but in the context of Jerusalem, it is idiotic.
Posted by The Lounsbury at 07:03 PM
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Jan-July 2005
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Sham-Levant
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Society & Culture
