Tag Archives: Bloomberg Businessweek

The Top 5 Longreads of the Week

This week we’re sharing stories by Jason Fagone, Betty Ann Adam, Christian H. Cooper, Clarissa Wei, and Robert Kolker.

Sign up to receive this list free every Friday in your inbox. Read more…

“It’s like, how much more black could this be? And the answer is none. None more black.”

At Bloomberg Businessweek, Robert Kolker walks us through the confusing, byzantine, and downright shady world of Hollywood profits and payouts, as part of an exploration of the $400 billion lawsuit brought by the creators of the ancestor of all mockumentaries, This Is Spinal Tap. The lawsuit details are interesting enough (according to the film’s current owner Vivendi, the creative partners’ share of worldwide merchandising over a 32 year period was… $81), but Spinal Tap fans will also love the insider tidbits about the creation of the film, which started with a 20-minute demo version.

“I was amazed when I last looked at it,” says Shearer, who plays Derek Smalls, the band’s bare-chested, mutton-chopped, pipe-smoking bassist. “We had this little pittance”—a $60,000 screenplay fee from a company that eventually rejected the idea—“to shoot characters and performances.” He remembers his long black wig costing about $5, and that it took an hour and a half to remove once the shoot was over (the costumer had used super glue). Shearer, Reiner (who plays Marty DiBergi, the fake documentarian), Guest (as lead guitarist Nigel Tufnel), and McKean (as vocalist David St. Hubbins) had been nursing and developing the idea since 1978. They first performed as the band in a 1979 variety show called The T.V. Show. Then they wrote seven new songs, played a few gigs in costume in Los Angeles, and worked out a complete band history to ensure that their improvisations had a narrative spine they all could rely on. “Michael McKean, I believe, still has the napkin on which the possible names and the possible misspellings were outlined,” Shearer recalls, “because I think at one point we thought maybe S-p-y-n-a-l?”

Read the story

When Innovation Fails: Doing Hard Time in the Offender-Monitoring Business

In Bloomberg Businessweek, Lauren Etter explores another problem with the privatization of law enforcement: technology. From scrambled signals and dead batteries to false violations, the electronic ankle bracelets 3M created failed to protect wearers’ civil liberties even though the process used to design them reflected the company’s way of thinking about innovation and experimentation. Unfortunately, creating monitors for human beings involves higher stakes than yellow stickies.

The sheer amount of data generated by GPS-tracking devices creates problems across the industry and in every state, but the number of alerts in Massachusetts has far exceeded the norm, experts say. Documents reviewed by Bloomberg show that in the 12 months ended in October 2015, 3M bracelets produced 612,492 violation alerts in Massachusetts—more than 50,000 per month, from about 2,800 individuals wearing the devices. Almost 40 percent of the alerts were due to a device not being able to connect to the network or the GPS not being detected. Roughly 1 percent of alerts resulted in an arrest warrant being issued. Tom Pasquarello, former director of the electronic monitoring program for Massachusetts, estimates that half those warrants were potentially based on faulty or incomplete data. That would be roughly 3,000 warrants. “There were people that were pulled from their house in the middle of the night, that lost their kids, people that lost their job,” he says.

The problem of glitchy ankle monitors became so pronounced that the Massachusetts probation department set up an after-hours office in the lobby of a Boston police station so offenders could bring in their bracelets when problems occurred or batteries died. In August 2015, Massachusetts Superior Court Judge Heidi Brieger became so frustrated with the devices that she vowed to stop sentencing anybody to them. “It is simply administratively improper to run a system in this fashion,” she said, according to a court transcript. “We don’t lose liberty in this country because somebody’s software is not working. It just isn’t right.”

Read the story

The Top 5 Longreads of the Week

This week, we’re sharing stories from Peter Waldman, Garrett M. Graff, Rachel Aviv, Catrin Einhorn, Jodi Kantor, andd Eric Boodman.

Sign up to receive this list free every Friday in your inbox. Read more…

Pivoting Away from Lung Cancer

Felix Gillette, Jennifer Kaplan, and Sam Chambers report in Bloomberg Businessweek on Big Tobacco’s adaptation of the Silicon Valley playbook: sleek design, disruption, open-floor plan “innovation zones” with Eero Saarinen chairs, you name it. Welcome to the world of alternative nicotine platforms.

In between heatsticks, you holster the cyberpipe in a mobile charger, a smooth, palm-size contraption that calls to mind a cigarette pack mated with a smartphone and designed by Apple’s Jony Ive. “I was a smoker before,” Calantzopoulos said as he handled a charger. “I switched to this completely, and I cannot smoke cigarettes anymore.” Somewhere in flavor country the Marlboro Man is turning over in his grave.

Read the story

He Learned it All on Google and YouTube: How to Become a Gold Smuggler

Before getting nabbed by the Policía de Investigaciones — the Chilean equivalent of the FBI — 23-year-old Harold Vilches acquired and resold over 4,000 lbs. of gold worth $80 million in under two years. It all started with a Google search for gold dealers in Peru and YouTube videos on how to make your own gold ingots. Read the story at Bloomberg Businessweek by Michael Smith and Jonathan Franklin.

As the minutes ticked by on the afternoon of April 28, 2015, Harold Vilches watched stoically while customs officers at Santiago’s international airport scrutinized his carry-on. Inside the roller bag was 44 pounds of solid gold, worth almost $800,000, and all the baby-faced, 21-year-old college student wanted was clearance to get on a red-eye to Miami.

Vilches didn’t need this headache. In just two years he had rapidly risen in the ranks of Latin American gold smugglers. Although he was barely old enough to order a beer in Miami, he’d won a $101 million contract to supply a gold dealer in Dubai. That hadn’t exactly worked out—the Dubai company was after him for $5.2 million it says he misappropriated—but still, in a brief career he’d acquired and then resold more than 4,000 lb. of gold, according to Chilean prosecutors. U.S. investigators and Chilean prosecutors suspect almost all of it was contraband.

Read the story

The New Cover of Bloomberg Businessweek Reminds Us: Businesses Can’t Thrive Amid Chaos

The reason the U.S. is a good place to do business is that, for the past two centuries, it’s built a firm foundation on the rule of law. President Trump almost undid that in a weekend. That’s bad for business.

-From a scathing short column by Matt Levine about businesses waking up to a harsh reality under President Trump.

 

The Top 5 Longreads of the Week

Below, our favorite stories of the week. Kindle users, you can also get them as a Readlist.

Sign up to receive this list free every Friday in your inbox.

* * *

Read more…

The Top 5 Longreads of the Week

Below, our favorite stories of the week. Kindle users, you can also get them as a Readlist.
Sign up to receive this list free every Friday in your inbox.

* * *

Read more…

The Top 5 Longreads of the Week

Below, our favorite stories of the week. Kindle users, you can also get them as a Readlist.
Sign up to receive this list free every Friday in your inbox.

* * *

Read more…