Triumphs in Publicity #315

The art of publicity is a black art.

– Learned Hand

Publicists are dodgy by nature, but some handle it better than others.

A publicist who appeared on CNBC in October deserves a medal for his artful dodge.

He appeared on the weekday program Power Lunch to puff up investing in the tech firm Upstart.

The publicist was clearly addled when the host asked him a simple question.

"What does Upstart do? What kind of company is it?"

The publicist paused, frowned, then pretended his audio had cut out.

He never answered the question, leaving the host to confirm that Upstart was a great investment.

Triumph #315: 

Asked an unwelcome question, he claimed jiggy audio.

Postscript: CNBC has since declared Upstart a "disaster." On Friday, its stock price fell 55%, placing the company among the week's "top five biggest financial losers," according to Seeking Alpha.

Welcome to Indenture

Employers who recruit a lot of recent grads are luring them with a new perk: student loan repayment.

Bloomberg reports that investment and consulting firms like Nataxis and   PricewaterhouseCoopers will pony up as much as $250 a month toward a candidate's college debt.

McKinsey, Bain Capital and Accenture will also pay down employees' student debt, according to The Wall Street Journal.

If you're willing to provide seed money, we can jump on the bandwagon and start up our own firm to compete with Accenture.

Indenture.

A pillar of colonial America, indenture (a version of "enforced servitude") underwrote the tobacco economy in the Chesapeake region.

Under the system, an Englishman who sought a clean start in America signed a contract that promised he'd repay his master for ship fare, clothing, and room and board by laboring for seven years. 

Women also signed the contracts.

The word indenture refers to an indentation made on each contract. When it was drawn, two copies were made. One copy was then placed over the other and an edge indented.

As a result, master and servant could always spot whether a copy might be forged (often the end-date would be changed by one or the other party.)

On a serious note: Burdensome debt is no laughing matter. It drives in part the popularity of Bernie Sanders among Millennials. As one Boomer told a group of college students, “Your generation’s debt is our generation’s draft."

Alpha Dogs

I'm as much a fan of Larry Page, CEO of newly formed Alphabet, as the next guy.

Without his efforts, I'd still have to haul around dictionaries and encyclopedias; and I'd be writing blog posts with software other than Blogger.

But Larry overstates and overwrites, as shown in his August 10 letter to investors.

While exemplary in tone, the letter is littered with dogs.

Borrowing from some new-age infomercial, he tells investors (twice) that he's "super excited" about Google's prospects, and "really excited" to announce Alphabet.

Who wouldn't be? The reorganization lets him put "tremendous focus on the extraordinary opportunities" at Google, and lets him continue to work alongside its new CEO, a diversion Larry is "tremendously enjoying."

And why not? Google's new CEO brings about "amazing progress" and "incredible growth."

It all adds up to a "very exciting new chapter" in Google's life.

And it all spells "hooey."

Overwriting betrays under-thinking.

Overstating strains credulity.