Companies are silent about Texas’ failed attempt to restrict voting access. Efforts by Republican legislators to enact some of the strictest voting laws in the country. flopped on sundayafter the Democrats left the state capital. But companies that have openly opposed these efforts said little – including American Airlines, based in Fort Worth, and Dell, headquartered in Round Rock, both of which declined to comment beyond previous statements – even though Republicans plan to reintroduce the bill on a special session.
Benefits and dangers of hype
In a long profile we reviewed over the weekend, The New Yorker traces Arch Chamat Palihapitiya, the Facebook CEO has evolved into an investor who has become one of the world’s largest SPAC tycoons. The article – and a separate Palihapitiya Twitter thread – shows how overt presence can bring fortune, but also make someone a huge target for critics.
Palihapitiya’s bravado helped launch the SPAC boom, The New Yorker claims to have applied his innate prowess to the necessary process of selling funds with blank checks to both Wall Street and mainstream investors.
According to the article, this helped him attract converts: at a meeting on his first SPAC’s plan to merge with Virgin Galactic, one listener drew up a list of criticisms. Palihapitiya responded by calling this man an “idiot” (supplemented with a few curses) and asked: “Have you even looked at the prospectus?” Later, one of the viewers called this flash “brilliant”.
This bragging and careful fomenting of his fame allowed him to raise billions for venture capital funds and then switch to SPAC when he needed to change his strategy (and image). “The income we have received is undeniable,” he told The New Yorker.
However, Palihapitiya does not lack criticism, including those who say that his claims about SPAC are exaggerated. The latter emerged over the weekend when Christopher Bloomstrand, investment director of the Semper Augustus Investments Group, took to twitter poke holes in Palihapitiya last letter to investors…
Bloomstran noted errors in counting years over time and in quantifying S&P 500 returns over the past year, and raised questions about Palihapit’s comparison of his own firm’s returns to those of Berkshire Hathaway. “Is there a fact-checking room in your store?” Bloomstrand concluded. (So far Palihapitiya replied two of these criticisms.)
EEOC clarifies workplace vaccination rules
On the appeal of business groupsEqual Employment Opportunity Commission on Friday clarified how companies can issue vaccination orders to workers returning to the office; and what incentives employers can offer to promote vaccination.
Companies can only require vaccinations from employees returning to the workplace, This is stated in the EEOC’s Friday note. But this is still considered a mandate, so companies must consider the same considerations as company-wide vaccine requirements, such as conditions for employees who cannot receive a vaccine.
“I really think it’s important for the EEOC to address this issue because I’m worried that some employers are on the wrong track and think that the requirement for vaccinations is not that important.” – Jessica Kester, Employed Company. According to DealBook, a lawyer at the law firm Ogletree Deakins.
Employers can also offer incentives for vaccinations, EEOC clarified. This includes temptations such as giving employees paid time to vaccinate, as well as rewards for employees who show proof of vaccination, such as $ 75 bonus what Walmart offers. Companies are also offering mask-free in the office as an incentive, although some do not require proof of vaccination, perhaps as a practical concession. (“Are you really going to go around and, when you see an employee without a mask, run back to the HR department and make sure that this person has indeed been fully vaccinated?” Kester said.)