From today's WSJ (6/25/09), "American Kids Flunk Basketball 101," Michael Beasley laments his lack of defensive prowess:
[A]s concerns build about his...rough transition to the NBA, last year’s No. 2 overall pick, Michael Beasley of the Miami Heat, finally conceded a fundamental flaw: No one, at any level in his basketball career, had asked him to play defense. And especially not in AAU. “If you’re playing defense in AAU, you don’t need to be playing,” he says. “I’ve honestly never seen anyone play defense in AAU.”
AAU stands for Amateur Athletic Union, a national youth basketball circuit. When I coach youth basketball at the local community center, I emphasize defense. Whoever plays harder defense gets more minutes if I have a vacancy. I also reward kids who play defense by praising them every chance I get. Defensive drills are fairly simple. I call them "rebounding and hounding" drills.
No one teaches kids defense anymore, even though you can't win games without it. Michael Jordan was voted defensive player of the year in 1988, and also racked up nine NBA All-Defensive First Team honors. The San Antonio Spurs recently won several titles with their hard-nosed defense. The Boston Celtics didn't win any titles, not even division titles, until after 1957--exactly when defensive stud Bill Russell started suiting up for the team. Defense is key to winning in basketball. The Phoenix Suns have found this out the hard way--although they would score 120 points on a regular basis, they haven't been able to win a title in recent history.
Beasley is talented, but his doesn't seem to have the killer instinct necessary to play defense. He's more of what I call a "pretty boy" player--content to shoot easy baskets and not sacrifice his body for the sake of a play. The opposite of the "pretty boy" mentality? Dennis Rodman and Chris "Birdman" Anderson.
"And if an epitaph be my story, I'd have a short one ready for my own: I had a lover's quarrel with the world." -- Robert Frost
Thursday, June 25, 2009
NBA News
NBA News: San Antonio picks up R. Jefferson, practically guaranteeing a Conference Finals appearance, while Cleveland adds an aging free throw bricker who couldn't get it done with Nash, Amare, Hill, Barbosa, and J-Rich.
How does San Antonio manage to consistently improve its team at a reasonable cost, while other teams throw a Hail Mary?
Richard Jefferson is going to be a wonderful addition to San Antonio. He's a proven scorer and a stand-up guy. San Antonio's major issue will be keeping players healthy all year. They also need a consistent three point shooter. Bonner is a good shooter, but he's been inconsistent in the playoffs.
How does San Antonio manage to consistently improve its team at a reasonable cost, while other teams throw a Hail Mary?
Richard Jefferson is going to be a wonderful addition to San Antonio. He's a proven scorer and a stand-up guy. San Antonio's major issue will be keeping players healthy all year. They also need a consistent three point shooter. Bonner is a good shooter, but he's been inconsistent in the playoffs.
Finally! Public Pensions Exposed
Thank you, Craig Karmin, for your June 24, 2009 WSJ article, "Group Shines Light on Hefty Government Pensions."
http://online.wsj.com/article/SB124580096328044597.html
Pension funds provide guaranteed payouts, so even though public funds lost a collective $1 trillion last year, their retirees' monthly checks are unchanged. And the funds' solvency is ultimately backed by taxpayers.
By the way, apparently, the California School Employees Association, a union, represents 230,000 public employees. And that's just one union. No wonder public sector unions have so much power in Sacramento.
http://online.wsj.com/article/SB124580096328044597.html
Pension funds provide guaranteed payouts, so even though public funds lost a collective $1 trillion last year, their retirees' monthly checks are unchanged. And the funds' solvency is ultimately backed by taxpayers.
By the way, apparently, the California School Employees Association, a union, represents 230,000 public employees. And that's just one union. No wonder public sector unions have so much power in Sacramento.
Wednesday, June 24, 2009
Gov. Sanford Confesses to Affair
I used to really like Gov. Sanford. I wrote about him previously here. He admitted today that he cheated on his wife with a woman in Argentina. Ironically, one excerpt from an earlier speech he made mentions judging others based on their actions:
[T]he Bible says, “Let your light so shine before men that they may see your good works and give glory to your Father that’s in heaven.“ Hopefully, by the way in which you act. The way in which you make decisions.
Two Republicans have been outed as morally deficient in less than a week (than other man is Nevada's John Ensign). Maybe this is God's way of forcing the Republican Party to stop catering to the religious right and to convince them to return to old-time republican principles: small government, low inflation, personal humility, and anti-unnecessary wars. Or, maybe it's just karma for spending millions of taxpayer dollars going after Bill Clinton.
I hate to smile at anyone's misfortune, but I did manage a chuckle at one of the names given to this scandal: "Don't Cry for Me, Argentina." By the way, Jenny Sanford has issued her own statement. Click here to read her heartfelt words. I predict she'll hold public office someday in South Carolina.
[T]he Bible says, “Let your light so shine before men that they may see your good works and give glory to your Father that’s in heaven.“ Hopefully, by the way in which you act. The way in which you make decisions.
Two Republicans have been outed as morally deficient in less than a week (than other man is Nevada's John Ensign). Maybe this is God's way of forcing the Republican Party to stop catering to the religious right and to convince them to return to old-time republican principles: small government, low inflation, personal humility, and anti-unnecessary wars. Or, maybe it's just karma for spending millions of taxpayer dollars going after Bill Clinton.
I hate to smile at anyone's misfortune, but I did manage a chuckle at one of the names given to this scandal: "Don't Cry for Me, Argentina." By the way, Jenny Sanford has issued her own statement. Click here to read her heartfelt words. I predict she'll hold public office someday in South Carolina.
Random Thoughts
1. Whatever happened to Gorillaz, the innovative band that did the catchy "Feel Good Inc."? I loved their single, and I haven't heard anything quite like it since.
2. I went food shopping today. I always try to find the discounted items, but the grocery stores are getting tricky. I saw one discount of 9 cents--hardly a reason to favor a particular brand over another. Many of the discounts I saw were less than thirty cents. If this keeps up, I am going to have to save lots of coupons and go shopping only when I have lots of coupons.
One item that stores seem to consistently discount is ice cream. If you go in the middle of the week, sometimes you will save 50%. For a big ice cream fan like myself, this is sweet indeed.
2. I went food shopping today. I always try to find the discounted items, but the grocery stores are getting tricky. I saw one discount of 9 cents--hardly a reason to favor a particular brand over another. Many of the discounts I saw were less than thirty cents. If this keeps up, I am going to have to save lots of coupons and go shopping only when I have lots of coupons.
One item that stores seem to consistently discount is ice cream. If you go in the middle of the week, sometimes you will save 50%. For a big ice cream fan like myself, this is sweet indeed.
Jack and Suzy Welch and Grand Canyon Education, Inc. (LOPE)
A seekingalpha.com reader, Catcuffs01, corrected an egregious mistake in this article. Someone also left me a message about my mistake. Thank you. Mr. Welch's new online MBA program is run by Grand Canyon Education, Inc. (LOPE), not the Apollo Group, Inc. (APOL). Here is my response to the astute reader:
Catcuffs01: you are absolutely right. Welch is lending his name to Chancellor University System LLC, not the Apollo Group. He was, however, impressed by the Apollo Group. The WSJ article said that "Mr. Welch says he was initially skeptical of online education, but has been impressed by the Apollo Group Inc.'s University of Phoenix."
Mr. Welch actually lent his name to Grand Canyon Education, Inc. (LOPE). I'd never heard of LOPE before, so my brain jumped to the only online company I know about, which is the University of Phoenix. Thank you for correcting me.
Revised article below:
I've been waiting for an excuse to put up these pictures. The WSJ just had an article on Welch and his new online MBA program. Here is one excerpt:
When he first approached Mr. Welch at the party, Mr. Clifford says the two men argued about the merits of online education. "We were yelling at each other," Mr. Clifford says. Mr. Welch confirms the incident. Mr. Welch invited Mr. Clifford to see him the next day, and Mr. Clifford says he has "hounded" the former CEO ever since.
Seems like an interesting meeting, no? While Welch is going with Grand Canyon Education (LOPE), the largest online education provider is the Apollo Group. The Apollo Group (APOL), which runs the University of Phoenix and other campuses, has a volatile stock. In the past six years, it has gone as low as $33/share to as high as $95/share.
APOL's main issue is credibility. College degrees, at the end of the day, are just pieces of paper. No one will pay tens of thousands of dollars for a piece of paper unless it will lead to a good job and/or higher lifetime earnings. Thus, the real value of most college degrees lies in their ability to connect students to a loyal alumni network. The longer an institution has been around, the higher the value of its degree, because the school will usually have more alumni. Size doesn't necessary matter--little-known, selective Carleton College probably has a stronger network than the much larger UC Riverside.
In contrast to many top tier colleges, the University of Phoenix and other Apollo campuses have not yet established a vast, loyal alumni network. (Readers, please correct me if I am wrong--I'd love to hear about companies that focus on hiring University of Phoenix or Grand Canyon Education grads.) Many Apollo graduates attend night school or may not be particularly loyal to any of Apollo's various universities. Getting an online degree may be faster and more convenient, but numerous factors, including no nationally-recognized sports teams, may impede a strong Apollo alumni network.
The addition of Jack Welch improves online education's credibility, but it is still unclear how Apollo's and Grand Canyon Education's various educational institutions plan to create lasting loyalty. I can think of plenty of famous Harvard, Stanford, Santa Clara (Steve Nash, Gavin Newsom, etc.), and UC Davis graduates (Urijah Faber, Jackie Speier, etc.), but no famous University of Phoenix or Grand Canyon Education grads. (Note: I did a quick online search. Apparently, Shaq and Lisa Leslie have received degrees from the University of Phoenix. It's interesting that Apollo hasn't successfully used their celebrity status as a marketing device.)
I wish Apollo and Grand Canyon Education much success in the future. Our established universities need competition; otherwise, they will keep increasing tuition above the rate of inflation. Apollo and LOPE are like new charter schools trying to gain credibility in a world of established private and public schools. If they succeed, everyone but the establishment benefits. As an investor, however, it may be wise to wait until the companies establish larger and stronger alumni networks before jumping in.
Disclosure: I have no shares in APOL or LOPE.
Catcuffs01: you are absolutely right. Welch is lending his name to Chancellor University System LLC, not the Apollo Group. He was, however, impressed by the Apollo Group. The WSJ article said that "Mr. Welch says he was initially skeptical of online education, but has been impressed by the Apollo Group Inc.'s University of Phoenix."
Mr. Welch actually lent his name to Grand Canyon Education, Inc. (LOPE). I'd never heard of LOPE before, so my brain jumped to the only online company I know about, which is the University of Phoenix. Thank you for correcting me.
Revised article below:
I've been waiting for an excuse to put up these pictures. The WSJ just had an article on Welch and his new online MBA program. Here is one excerpt:
When he first approached Mr. Welch at the party, Mr. Clifford says the two men argued about the merits of online education. "We were yelling at each other," Mr. Clifford says. Mr. Welch confirms the incident. Mr. Welch invited Mr. Clifford to see him the next day, and Mr. Clifford says he has "hounded" the former CEO ever since.
Seems like an interesting meeting, no? While Welch is going with Grand Canyon Education (LOPE), the largest online education provider is the Apollo Group. The Apollo Group (APOL), which runs the University of Phoenix and other campuses, has a volatile stock. In the past six years, it has gone as low as $33/share to as high as $95/share.
APOL's main issue is credibility. College degrees, at the end of the day, are just pieces of paper. No one will pay tens of thousands of dollars for a piece of paper unless it will lead to a good job and/or higher lifetime earnings. Thus, the real value of most college degrees lies in their ability to connect students to a loyal alumni network. The longer an institution has been around, the higher the value of its degree, because the school will usually have more alumni. Size doesn't necessary matter--little-known, selective Carleton College probably has a stronger network than the much larger UC Riverside.
In contrast to many top tier colleges, the University of Phoenix and other Apollo campuses have not yet established a vast, loyal alumni network. (Readers, please correct me if I am wrong--I'd love to hear about companies that focus on hiring University of Phoenix or Grand Canyon Education grads.) Many Apollo graduates attend night school or may not be particularly loyal to any of Apollo's various universities. Getting an online degree may be faster and more convenient, but numerous factors, including no nationally-recognized sports teams, may impede a strong Apollo alumni network.
The addition of Jack Welch improves online education's credibility, but it is still unclear how Apollo's and Grand Canyon Education's various educational institutions plan to create lasting loyalty. I can think of plenty of famous Harvard, Stanford, Santa Clara (Steve Nash, Gavin Newsom, etc.), and UC Davis graduates (Urijah Faber, Jackie Speier, etc.), but no famous University of Phoenix or Grand Canyon Education grads. (Note: I did a quick online search. Apparently, Shaq and Lisa Leslie have received degrees from the University of Phoenix. It's interesting that Apollo hasn't successfully used their celebrity status as a marketing device.)
I wish Apollo and Grand Canyon Education much success in the future. Our established universities need competition; otherwise, they will keep increasing tuition above the rate of inflation. Apollo and LOPE are like new charter schools trying to gain credibility in a world of established private and public schools. If they succeed, everyone but the establishment benefits. As an investor, however, it may be wise to wait until the companies establish larger and stronger alumni networks before jumping in.
Disclosure: I have no shares in APOL or LOPE.
Tuesday, June 23, 2009
Kaveh Alipour
Another government-inflicted murder happens in Iran:
http://online.wsj.com/article/SB124571865270639351.html
Apparently, Kaveh Alipour was non-political and was just waiting at an intersection:
He had been alone. Neighbors and relatives think that he got trapped in the crossfire. He wasn't politically active and hadn't taken part in the turmoil that has rocked Iran for over a week, they said.
This might be the work of the Basij, a volunteer paramilitary force that's similar to Germany's former SS. A significant percentage of Basij are allowed to have firearms, and I think the Iranian government has supplied more of them with weapons since the uprising.
I remember being in Iran many years ago. I was a teenager, and it was a hot day. I lifted my shirt and exposed my chest to the slight breeze. My friend worriedly told me not to do that. Under Islamic law, both men and women must dress modestly when outside the home. I realized later my friend might have been concerned about the Basij bothering us.
http://online.wsj.com/article/SB124571865270639351.html
Apparently, Kaveh Alipour was non-political and was just waiting at an intersection:
He had been alone. Neighbors and relatives think that he got trapped in the crossfire. He wasn't politically active and hadn't taken part in the turmoil that has rocked Iran for over a week, they said.
This might be the work of the Basij, a volunteer paramilitary force that's similar to Germany's former SS. A significant percentage of Basij are allowed to have firearms, and I think the Iranian government has supplied more of them with weapons since the uprising.
I remember being in Iran many years ago. I was a teenager, and it was a hot day. I lifted my shirt and exposed my chest to the slight breeze. My friend worriedly told me not to do that. Under Islamic law, both men and women must dress modestly when outside the home. I realized later my friend might have been concerned about the Basij bothering us.
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