A Memoir According to Kathy Griffin – BONUS POST

The Bonus Book of the Week is “A Memoir According to Kathy Griffin” by Kathy Griffin, published in 2009.

This memoir described the comedian whose shtick consisted of telling humorous, embarrassing stories about members of the entertainment industry. Or, as she characterized herself: “… someone who gets fired, stirs up trouble, and gets debated about on CNN for saying bad things on award shows.” Kudos to her for being an honest, amusing attention whore. She must have brought in sufficient profits for the entertainment industry to tolerate her behavior.

Born in November 1960 in Forest Park, Illinois, the youngest of five children, Griffin grew up in Oak Park, Illinois. At eighteen years old, she moved to Santa Monica, California to be an actress. She apparently had the talent, drive and creativity to get famous.

In the early 2000’s, Griffin performed sufficiently well at the Laugh Factory in Los Angeles to double the length of her show to two hours. This allowed the cocktail waitresses to make sufficient money to pay their rent, “Plus they loved serving the gays, because they were well-dressed, respectful and tipped well.”

Griffin didn’t talk about Anna Nicole Smith right after she died out of respect. As Greg Giraldo would have said, “Too soon, too soon.” Griffin revealed deeply personal information– both of her parents were functional alcoholics, and her oldest brother was a pedophile and substance abuser.

Griffin tried to raise the alarm about her brother, but, as she joked– her parents thought “denial” was a river in Egypt. She admitted to two major errors in her life– poor judgment in both her marriage and in having liposuction. Read the book to learn the details of this and other episodes.

SERIOUS ENDNOTE: Griffin had no qualms about making political statements unrelated to the awards shows she attended. It is therefore not inappropriate to make a political statement unrelated to Griffin’s book, below.

This nation seems to be in denial about the amount of debt load currently carried by not only individuals and businesses, but by the federal government and local governments. It appears that bankruptcies of government entities is the next financial crisis in the offing; the reason why, will be explained shortly.

Within the last thirty or so years alone, the United States has seen greed fests and then busts with regard to junk bonds, savings and loan associations, derivatives, tech stocks, and subprime mortgages, just to name a few. Mortgage-backed securities used to be one of the lowest-risk investments around. Tax-free municipal bonds are presumably still one of the lowest-risk investments around.

BUT one small bond brokerage (and possibly others, too) whose website says it “specialize[s] in tax-free municipal bonds. That’s all we do.” recently changed the language on its customers’ monthly statements. It is forcing them to accept the words, “trading & speculation” (!) for their “Investment objective/Risk tolerance” or else they won’t be able to purchase bonds. It makes itself sound like a penny-stock broker-dealer of the 1980’s that churns accounts. Or a currency broker.

The brokerage is so phobic about covering itself legally that there must be bond issuers who are going to go belly up AFTER THE CURRENT PRESIDENT HAS BEEN REELECTED or has left office, whenever that is. (It might be recalled that Detroit took the plunge in July 2013, after Obama was reelected.) Or its brokers are getting greedy and unscrupulous. Or both. Good luck with that, all.

Shoe Dog

The Book of the Week is “Shoe Dog, A Memoir by the Creator of Nike” by Phil Knight, published in 2016.

Born in 1938 in Portland Oregon, Knight showed irrepressible passion and optimism through years and years of financial losses. He got seed money from his father, and moral support from his mother.

By his mid-twenties, Knight possessed a quality education but still needed to find himself. He did some international traveling with a friend. He learned that Japan made running shoes he could import and sell in the U.S. So in 1964, he partnered with his college track coach– a legend in his social circle- to start a business. At that time, “running wasn’t even a sport.”

Even though he was a pioneer in an evolving industry, he returned to school to become a Certified Public Accountant, just in case the sneaker gig didn’t pan out. He was working around the clock at a full-time accounting job, and nurturing his shoe business. He and later, his employees, personally drove to track meets of schools in western states to meet and sell sneakers to scores of people– coaches, runners, fans.

Banks lending money to businesses at the time did not provide revolving credit facilities– they expected to see solvency. Knight believed in reinvesting every penny of profit into the business– thus generating an endless debt cycle.

He would borrow to purchase more sneakers, sell them, then repeat the process. He had to have competitive sales prices for his products; else they wouldn’t sell against Puma and Adidas. But they were selling like hotcakes. Starting in the mid-1960’s, before he rented a warehouse, he stored the shoes, floor to ceiling, in his bachelor pad. The business was initially named Blue Ribbon and the first shoe model was named Tiger.

At the 1972 Olympics in Munich, eleven Israelis were killed in a terrorist attack. The nation was again mourning yet more deaths, in addition to those of previous years– the Kennedys, Martin Luther King Jr., the Kent State University students, and of course, the tens of thousands in Vietnam. “Ours was a difficult, death-drenched age, and at least once every day you were forced to ask yourself: What’s the point?”

By 1976, Knight had changed his business’s name to Nike Inc. and had factories in New England, Puerto Rico and Taiwan. Unsurprisingly, his family life took a backseat to his workaholic lifestyle.

Read the book to learn of Knight’s interactions with his business partners and their personalities, and the million worries he faced every day in running his business, including products, manufacturing, warehousing, distribution, advertising, retailing, and dealing with lenders, employees, counterfeit goods, etc., etc. etc.; plus, what prompted him to take the company public.

Mistaken Identity – BONUS POST

The Bonus Book of the Week is “Mistaken Identity” by Don & Susie Van Ryn and Newell, Colleen & Whitney Cerak, with Mark Tabb, published in 2008. This is a long, true story of a cluster-screw-up of honest ineptitude whose negative consequences were mitigated by the virtuous nature of the people involved.

The families of the victims described in this book weren’t vengeful and didn’t look for someone to blame or sue, pursuant to the tragedy. They were forgiving, and saw the positive consequences of it– they widened their social circle and became a good example for others of civil and mature behavior.

In late April 2006, two female Taylor College students from Michigan who shared an employer happened to be riding home in the same van in Fort Wayne, Indiana. They didn’t know each other. However, their appearance, build and facial features happened to be largely similar. The van was involved in a tragic accident. Along with other passengers, one of them died, and the other lived but had serious injuries.

In the aftermath, the one who lived remarked, “A lot of what was written in different magazines was wrong, and I think it gave me a different perspective on people and the media that I never had before.”

Read this book (not media stories) to get an accurate picture of what happened to the two families of the accident victims.

The Chief

The Book of the Week is “The Chief, The Life of William Randolph Hearst” by David Nasaw, published in 2000. This tome described not just the life of the media emperor, but the historical backdrop of his generation.

Born in April 1863 in San Francisco, Hearst was a mama’s boy. He grew up in a highly cultured family. However, its fortunes waned, and finally waxed in the 1870’s. The father was in the gold mining business; politics too– he was elected as a Democratic member of the state assembly of California in November 1865.

When Hearst was at Harvard, his mother “…redecorated his rooms [in Matthews Hall] in Harvard crimson, equipped him with a library, hired a maid and valet to look after her boy.” In those days, one student could live in an on-campus suite and have servants. Hearst was an outsider who bought himself a position in society by making the Harvard Lampoon profitable and donating big money to Harvard’s sports teams. But he lacked the manners to get invited to the elitist summer resorts.

In October 1880, Hearst’s father bought San Francisco’s Evening Examiner and turned it into a morning newspaper to win a future election. Father and son helped get Grover Cleveland elected president in November 1884. Two years later, Hearst’s father was elected to the U.S. Senate. Hearst eventually failed out of Harvard.

In his mid-twenties, Hearst got an opportunity to attempt a financial turnaround of the Examiner. He took various creative steps to achieve this goal. The Examiner‘s editorial bent was pro-labor, anti-capital and anti-railroad.

In the 1890’s, the culture of journalism was a mixture of “fact-based reporting, opinion and literature.” Readers liked emotionally-moving stories. They could tolerate a lot of fiction in their news. And they must’ve, when Hearst published made-up war stories to help Cuba gain its independence from Spain in 1898. However, toward the mid-twentieth century, journalism strove to be more objective.

In 1893 at the time Hearst bought the New York Morning Journal, there were eight established morning newspapers in New York. The Journal‘s editorial bent was pro-labor, pro-immigrant and anti-Republican. But it did have anti-African-American cartoons and jokes. According to Hearst, New Yorkers were overpaying for their gas, power, coal, ice, milk and even water due to monopolies (in those days called “trusts”).

In 1900 and 1901, the Hearst papers constantly criticized and even mentioned killing president McKinley. When the president was shot by a madman in September 1901, Hearst was accused of hiring the hitman. In 1902, Hearst was elected to Congress as a Democrat from New York, eleventh district. When he ran for a third term, he gave every man, woman and child in his district a free trip to Coney Island, including most of the Luna Park shows (thousands of tickets). Then he changed his mind and ran for mayor instead in 1905 in an attempt to “drain the swamp.” He wed in 1903, at forty years old. In May 1905, he bought Cosmopolitan magazine, kicking off his entry into the magazine business.

Hearst lived high on the hog and spared no expense when it came to gathering stories for his growing media empire. He paid his employees well, sent droves of them to cover stories which appeared in his newspapers that had more pages and special features than the competition’s. His business was losing more money than ever.

In the early 1920’s, “After 2 decades of debate and agitation, the rise and fall of Populist, Progressive and Socialist parties…” and lots of labor unrest, there was general consensus between government and American business “… that the role of government was not to supersede or control the corporation, but to legalize and legitimize it by regulating its excesses.”

Public relations at the turn of the twentieth century consisted of billboards and posters, newsreels and serial films, stunts, service features and contests. Radio was the next big thing in the 1920’s.

After recording political history for decades, Hearst concluded that “…politicians were, with few exceptions, mendacious, corrupt, and incompetent. The country needed a leader who was not tainted by the political process and was not dependent on the largess of machine politicians or big businessmen.”

On one trip on Hearst’s yacht, with a group of Hollywood celebrities, a movie director was celebrating his 43rd birthday. The director had a major heart attack and later died. All sorts of wild stories abounded in the newspapers that Hearst had killed him. A 2001 FICTIONAL movie called “The Cat’s Meow” was made of one wild-story version. No evidence of any crime has ever surfaced, except Hearst’s violating Prohibition– a crime whose exposure he wanted to avoid. That was the reason he didn’t want the media anywhere near the heart attack victim.

In late 1927, for nearly a month, Hearst had published front page articles based entirely on fictitious sources. He had libeled several nations, dozens of foreign statesmen, at least two prominent American journalists, Oswald Garrison Villard and Ernest Gruening, and four U.S. senators. Yet he wasn’t taken to task on any of that. There’s nothing new under the sun.

Read the book to learn the details of Hearst’s friendly relationships with William Jennings Bryan, Marion Davies, Mussolini, Hitler, Churchill and others; his wire service; his reporting on Tammany Hall; San Simeon and how his other estates with mansions came to be; his art collection; the size to which his media empire grew; his rabid anti-Communist activities; and how he worked his way out of financial ruin. Most of the aforementioned involved disgusting excesses.