Category: Business

Failed Landmark

Architecture, Corporate Fuckery

This just sucks:

The future of the iconic Chrysler Building in New York City is uncertain as its owners face eviction – leaving the crown jewel of Gotham’s high-rise at risk of falling into disrepair.

The owner of the land on which the skyscraper stands said it has terminated the building buyer’s ground lease and taken control of the Art Deco gem in Midtown Manhattan.

To call the Chrysler a “gem” is to do the building a great injustice.  Alone among all the skyscrapers in New York, it’s a building worth saving because its beauty makes it truly a work of art rather than just another grubby office building.

The problem with a building — any building, no matter how well constructed or of what durable materials it was built — is that it needs constant care and refurbishment, which clearly has been neglected by this lovely structure’s various owners over the decades. And to be frank, all of them need to be whipped at the post.

A cursory glance at what the landowners have been demanding for rent over the years, however, may be a clue as to why the neglect has occurred.

But like all downtown buildings, the Chrysler was nuked by Covid and its aftermath of “work-from-home” and empty offices thereby.  So its chances of survival at this point seem remote, unless some super-billionaire with imagination can think of a way out.  (One thinks of the much-maligned Donald Trump, who could probably pull off the miracle;  but he has other things to occupy him at the moment.)

So the Chrysler will probably be taken down like some exhausted Las Vegas casino, except that unlike the typical Vegas eyesore, a piece of great architectural beauty will disappear, and Manhattan will lose, in my opinion, far more of its soul than it lost when the Twin Towers fell.

Might as well look at it while we still can:

Price Increase On Your Dreams

Corporate Fuckery

Well, isn’t this special:

The cost of buying a Mega Millions jackpot dream will soon more than double, but lottery officials said they’re confident players won’t mind paying more after changes that will lead to larger prizes and more frequent winners.  Lottery officials announced Monday that it will cost $5 to play Mega Millions, beginning in April, up from the current $2 per ticket.

Mega Millions will introduce changes at a time when fewer people are buying tickets and jackpots need to reach ever-higher figures before sporadic players notice and opt to buy a ticket or two. Whereas a $500 million jackpot once prompted lines out convenience store doors, top prizes of $1 billion now often draw more of a ho-hum response.

Yeah, that’s right:  in the face of declining sales, boost revenue by increasing the price.  Fucking morons.  Ask Detroit how that’s worked out for them.

And even more special:

“Spending 5 bucks to become a millionaire or billionaire, that’s pretty good,” said Joshua Johnston, director of the Washington Lottery and lead director of the group that oversees Mega Millions.  The price increase will be one of many changes to Mega Millions that officials said will result in improved jackpot odds, more frequent giant prizes and even larger payouts.

Sure;  odds go from 2 trillion-1 to 1 trillion-1.  We lottery players may be suckers, but not that much.

And:

“You pay 5 bucks for your Starbucks,” Johnston noted.

But at the end of that transaction you get a cup of coffee in your hand, as opposed to a largely-worthless piece of paper.

I have this to say to MegaMillions:

…and thanks for nothing, assholes.

And thankee, sorta, to Reader Mike L. for the link.

Update On Big Auto’s Duracell Drive

Corporate Fuckery, Corporate Wokism, Drive Time

Following on from yesterday’s post on VW, Mercedes and Stellantis (the bastards), there’s this:

Car makers slash EV prices, suspend production and extend petrol model availability as electric demand wanes

The global downturn in sales of EVs has been triggered by a cocktail of diverging policies on green incentives, range and charge anxiety among drivers and the fact prices haven’t come down as much as experts had forecast.

As such, 2024 has been awash with a wave of U-turns by legacy car firms in response to a lower-than-expected appetite for electric vehicles.

‘Appetite for EVs among consumers is quickly diminishing. There are many factors contributing to this, including the lack of clarity around incentives, high prices and concerns around the low residual value of EVs.’

Yeah, not to mention the paucity of charging points when your Duracell phuts out, the cost of replacing said Duracell when it becomes as worn out as Madonna’s box at a P Diddy White Party, and those pesky spontaneous combustion episodes — to name but some “consumer concerns”.

Looks like corporate obeisance to the great Global Cooling Climate Warming Change© is losing its luster, especially when that pesky cold hard cash is involved.  (Also see:  Germany restarting coal-fired electricity generating plants.)

This is especially rich:

‘The new pricing structure on Corsa Electric and Astra Electric is the latest in a number of measures we have taken to democratise access to electric vehicles.’\

“Democratize access”, my aching African-American white ass.  That’s just a fancy term for “getting rid of unwanted stock”.

But when it comes to weaselly corporate-speak, it’s hard to top this:

Volvo Cars chief executive Jim Rowan said: ‘We are resolute in our belief that our future is electric. An electric car provides a superior driving experience [nazzo fast, Guido] and increases possibilities for using advanced technologies that improve the overall customer experience [like having their every move tracked and sent to insurance companies and ad agencies].

‘However, it is clear that the transition to electrification will not be linear [ya think?], and customers and markets are moving at different speeds of adoption [or not moving at all, see above].

‘We are pragmatic and flexible [except of course when we try to coerce people into buying our Duracell cars by eliminating the ICE option completely], while retaining an industry-leading position on electrification and sustainability.’ [and I hope you’re the first to go out of business, Mr. Leader]

Wait… what’s this I’m experiencing?

Oh, and one more thing, speaking of Duracell cars:

…not that any of my Readers would be affected, of course, being Sensible Chaps.

…And Speaking Of Big Auto

Business, Drive Time, Management

From the fools who bet on EVs as being the Next Big Thing:  Volkswagen and Mercedes.

Yeah… screw you and your little Duracell cars, screw you for buying into the Big Manufactured Panic stemming from the Global Warming Climate Cooling Change© hucksters, and screw you for trying to force us into buying your shitty fad products by cutting back production of regular internal combustion-engined cars and trucks.

And while we’re on high-level fools in Big Auto, ladies and gentlemen, I give you:  Stellantis.  This is what you get, and deservedly so when you let finance people run an engineering business.  Let me count the ways:

  • Misreading your core customers
  • Forcing inferior and low-demand products onto the market
  • Reducing product offerings when your competition offers choice (and having those remaining products be simply me-too choices, which you’re always going to lose especially when your products are less reliable and more costly)
  • Making long-term decisions based on doomsday (and fallacious) predictions
  • Sacrificing long-term growth for short-term profits (see below)
  • Ignoring basic marketing principles, e.g. when faced with growing reserve stock levels, increasing prices rather than cutting them.

Stellantis has broken each and every one of those oh-so basic rules, and the people who will pay the price are their employees, who are going to be laid off as their workplaces end up being shuttered.  Now, of course, they’re scrambling… in the face of being sued by shareholders.

Sadly, the people who have made all these disastrous business decisions will be fine thanks to generous severance packages and bonuses.  (Tavares’s compensation last year was worth $40 million, for example.)

instead of facing the proper consequences of public flogging followed by hanging.

Lookalike Names

Marketing / Advertising

This one made me chuckle:

Snickers launched in the UK in 1967, but before consumers could get their hands on it, it went through a change of name — because Snickers was deemed too close to another, saucier, word.

“Knickers”, I assume.  Not that I think that that name is “saucy”, or anything like it.  “Knockers”, maybe?

On the bright side, imagine the fuss today if someone tried to launch a snack bar called “Sniggers”… and it was made of dark chocolate.  I imagine that Sniggers  having been rejected, one could try “Darkies”, then?

From the archives:

I should probably stop now;  but that doesn’t mean that you should.  Carry on, in Comments, by all means.

Ummm Okay, Maybe Not

Corporate Wokism, Drive Time, Management

One has to laugh at this latest development:

Volvo has confirmed it has backtracked on its promise to sell only fully electric cars by 2030 due to a fall in demand for battery vehicles.

The Swedish company announced today it is now aiming for 90 to 100 per cent of its global sales to be either pure electric or plug-in hybrid by the end of the decade.

It comes in response to a decline in appetite for EVs across major markets, including a slowing uptake of battery cars among private buyers in the UK. 

Volvo executives said the delay to its EV schedule will ‘allow for a limited number of mild hybrid models to be sold, if needed’.

Let me be the first to say that “if needed” is going to become “vital to the company’s survival”, and the “limited number” will become most if not all of the entire product line.

In marketing terms, this is known as a “soft retraction” — note the shift from “all-electric” to “okay, we meant hybrids” — thus leaving space to keep using a normal internal combustion engine (ICE) instead of Duracell-only.

Gosh… let me see.  The original plan can be characterized as follows:

“We’re going to refocus our company’s entire product line into a technology that is unreliable, unsupportable and ultimately unsustainable, relying on a support system that doesn’t yet exist, all while hiding behind the twin figleaves of government mandate/coercion and feelgood eco-friendship”.

…because in cold hard business terms, that’s exactly what the “all-electric” policy came down to.

Were I a major shareholder in such a corporation, I would demand the resignation of the entire management group that initiated such stupidity.

Not for the first time, the oh-so politically-correct Swedes are getting their noses rubbed in the hard reality of their silliness (see also:  liberal immigration policy).

Couldn’t happen to a nicer bunch of well-intentioned wokist assholes.