Subsidiary Quotes

I didn’t and don’t want to be a ‘feminine’ version or a diluted version or a special version or a subsidiary version or an ancillary version, or an adapted version of the heroes I admire. I want to be the heroes themselves.

The man who pursues happiness wisely will aim at the possession of a number of subsidiary interests in addition to those central ones upon which his life is built.

The economy is a wholly owned subsidiary of the environment, not the reverse.

DOG: A kind of additional or subsidiary Diety designed to catch the overflow or surplus of the world's worship.

Don't you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thought-crime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. . . . The process will still be continuing long after you and I are dead. Every year fewer and fewer words, and the range of consciousness always a little smaller. Even now, of course, there's no reason or excuse for committing thought-crime. It's merely a question of self-discipline, reality-control. But in the end there won't be any need even for that. . . . Has it ever occurred to you, Winston, that by the year 2050, at the very latest, not a single human being will be alive who could understand such a conversation as we are having now?

So", says Jack at at last..."you broke up with Connor". Wow. So we're straight to the point. "So", I reply defiantly. "You decided to stay". "Yes, well...", "I thought I might take a closer look at some of the European subsidiaries." He looks up. "How about you?" "Same reason." I nod. "European subsidiaries".

Israel's demonstration of its military prowess in 1967 confirmed its status as a 'strategic asset,' as did its moves to prevent Syrian intervention in Jordan in 1970 in support of the PLO. Under the Nixon doctrine, Israel and Iran were to be 'the guardians of the Gulf,' and after the fall of the Shah, Israel's perceived role was enhanced. Meanwhile, Israel has provided subsidiary services elsewhere, including Latin America, where direct US support for the most murderous regimes has been impeded by Congress. While there has been internal debate and some fluctuation in US policy, much exaggerated in discussion here, it has been generally true that US support for Israel's militarization and expansion reflected the estimate of its power in the region. The effect has been to turn Israel into a militarized state completely dependent on US aid, willing to undertake tasks that few can endure, such as participation in Guatemalan genocide. For Israel, this is a moral disaster and will eventually become a physical disaster as well. For the Palestinians and many others, it has been a catastrophe, as it may sooner or later be for the entire world, with the growing danger of superpower confrontation.

I think the iPod is the true face of Republican politics, and I’m in favor of the music industry … standing up proud and saying it out loud: We in the Chiclet-manufacturing business are not about social justice, …we’re not about a coherent set of national ideals, we’re not about wisdom. We’re about choosing what WE want to listen to and ignoring everything else…. We’re about giving ourselves a mindless feel-good treat every five minutes. …We’re about persuading ten-year-old children to spend twenty-five dollars on a cool little silicone iPod case that costs a licensed Apple Computer subsidiary thirty-nine cents to manufacture.

Alas, it was never meant for us to hear. It was never meant for us to know. We ought never be taught to read. We fight through the constant male refractoriness of our surroundings; our souls are torn out of us with such shock that there isn't even any blood. Remember: I didn't and don't want to be a 'feminine' version or a diluted version or a special version or a subsidiary version or an ancillary version, or an adapted version of the heroes I admire. I want to be the heroes themselves.

Beneath the pleasure generated by the juxtaposition of order and complexity, we can identify the subsidiary architectural virtue of balance. Beauty is a likely outcome whenever architects skilfully mediate between any number of oppositions, including the old and the new, the natural and the man-made, the luxurious and the modest, and the masculine and the feminine.

If 'Nothing is true, everything is permitted' stands as a symbol of the license granted to the Ismaili elite, then the unrelated subsidiary motto 'Omnia in numero et mensura' acquires an ultimately cautionary significance. All things within measure, nothing too much.

The subsidiary reason is that the Party member, like the proletarian, tolerates present-day conditions partly because he has no standards of comparison. He must be cut off from the past, just as he must be cut off from foreign countries.

Interest did not naturally belong to such anecdotes. For the most part, only Chloe and I appreciated them, because of the subsidiary associations we attached to them. Yet these leitmotifs were important because they gave us the feeling that we were far from strangers to one another, that we had lived through things together, and remembered the joint meanings we had derived from them. However slight these leitmotifs were, they acted like cement. The language of intimacy they helped to create was a reminder that (without clearing our way through jungles, slaying dragons, or even sharing apartments) Chloe and I had created something of a world together.

For the first time Alix began to understand long-distance flying. It was not courage, or resourcefulness, or ability that counted in this game, though they were necessary subsidiary qualities. It was the capacity to work efficiently at tiring, menial tasks upon the ground that made great flights a success.

The spiritual efficacy of all encounters is determined by the amount of personal ego that is in play. If two people meet and disagree fiercely about theological matters but agree, silently or otherwise, that God’s love creates and sustains human love, and that whatever else may be said of God is subsidiary to this truth, then even out of what seems great friction there may emerge a peace that—though it may not end the dispute, though neither party may be “convinced” of the other’s position—nevertheless enters and nourishes one’s notion of, and relationship with, God. Without this radical openness, all arguments about God are not simply pointless but pernicious, for each person is in thrall to some lesser conception of ultimate truth and asserts not love but a lesson, not God but himself.

KBR won its coveted role in Iraq while it was a subsidiary of Halliburton, the company Vice President Dick Cheney ran before the 2000 presidential campaign. KBR was later spun off from Halliburton, but by then, it was well entrenched with a virtual monopoly over basic services for American troops in Iraq. At the height of the war, KBR had more than fifty thousand personnel and subcontractors working for it in Iraq, making the company’s presence in Iraq larger than that of the British Army.

The art of reasoning consists in getting hold of the subject at the right end, of seizing on the few general ideas that illuminate the whole, and of persistently organizing all subsidiary facts round them.

When a dog runs,” said the naturalist Jakob von Uexküll, “the dog moves his legs; when a sea urchin runs, the legs move the sea urchin.” 10 But even in humans, thinking is often a subsidiary state of consciousness.

Love is not only the cardinal fact in the individual life, but the most important concern of the community; after all, the way in which the young people of this generation pair off determines the fate of the nation; all the other affairs of the state are subsidiary to that. And we leave it to flushed and blundering youth to stumble on its own significance, with nothing to guide it but shocked looks and sentimental twaddle and base whisperings and cant-smeared examples.

Confucius said, "When good government prevails in the empire, ceremonies, music, and punitive military expeditions proceed from the son of Heaven. When bad government prevails in the empire, ceremonies, music, and punitive military expeditions proceed from the princes. When these things proceed from the princes, as a rule, the cases will be few in which they do not lose their power in ten generations. When they proceed from the great officers of the princes, as a rule, the case will be few in which they do not lose their power in five generations. When the subsidiary ministers of the great officers hold in their grasp the orders of the state, as a rule the cases will be few in which they do not lose their power in three generations. When right principles prevail in the kingdom, government will not be in the hands of the great officers. When right principles prevail in the kingdom, there will be no discussions among the common people." 16-2

The race question is subsidiary to the class question in politics, and to think of imperialism in terms of race is disastrous. But to neglect the racial factor as merely incidental as an error only less grave than to make it fundamental. There were Jacobin workmen in Paris who would have fought for the blacks against Bonaparte's troops. But the international movement was not then what is it to-day, and there were none in San Domingo. The black labourers saw only the old slave-owning whites.

Recently, an Ethiopian and several Kenyan drivers have sounded a bigger alarm. As one said, “I never thought I would see a second wave of colonialism, but there is one and it’s Chinese. Our countries are becoming wholly owned subsidiaries of China.

The Communist Party leadership likes SOEs because they can implement its policies. The Party members who run them can be ordered to carry out Party policies. But many bosses like running SOEs because they provide plenty of opportunities for personal enrichment. Setting up a subsidiary company and appointing oneself to the board is an easy way to make money. Another is to set up a private company owned by a friend or relative and either sell its assets at cheap prices or award it lucrative contracts.

Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. Already, in the Eleventh Edition, we’re not far from that point. But the process will still be continuing long after you and I are dead. Every year fewer and fewer words, and the range of consciousness always a little smaller. Even now, of course, there’s no reason or excuse for committing thoughtcrime. It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. The Revolution will be complete when the language is perfect.

This is what cinema is all about. Images, sound, whatever, are what we use to construct a way which is cinema, which is supposed to produce effects, not only in our eyes and ears, but in our "mental" movie theater in which image and sound already are there. There is a kind of on-going movie all the time, in which the movie that we see comes in and mixes, and the perception of all these images and sound proposed to us in a typical film narration piles up in our memory with other images, other associations of images, other films, but other mental images we have, they pre-exist. So a new image in a film titillates or excites another mental image already there or emotions that we have so when you propose something to watch and hear, it goes, it works. It's like we have sleeping emotions in us all the time, half-sleeping, so one specific image or the combination of one image and sound, or the way of putting things together, like two images one after another, what we call montage, editing - these things ring a bell. These half-asleep feelings just wake up because of that - that is what it is about. This is not to make a film and say: "Okay, let's get a deal, let's tell the story, let's have a good actress, good-bye, not bad," and we go home and we eat. What I am dealing with is the effects, the perception, and the subsidiary effects of my work as proposals, as an open field, so that you can get there things you always wanted to feel and maybe didn't know how to express, imagine, watch, observe, whatever. This is so far away from the strong screenplay, the beautiful movie, etc., that sometimes I don't know what I should discuss. You understand, this is really fighting for that "Seventh Art" which is making films.

This may come as a surprise to some of you, but Federal Express is not a wholly owned subsidiary of Bear, Stearns & Co. Inc. I mention this because we have been spending $50,000 a month with them and there is no explanation to justify this expenditure unless it was an intercompany transfer.

What, then, is Berkshire’s moat? The answer: Berkshire’s distinctive corporate culture. Berkshire spent the last five decades acquiring a group of wholly owned subsidiaries of bewildering variety but united by a set of distinctive core values. The result is a corporate culture unlike any other. And this is Berkshire’s moat.

Each cooperative in Mondragon has its own workplace structure, though there are similarities and tendencies that most of them share. The firm called Irizar, which manufactures products for trans-portation, from luxury coaches to city buses, exemplifies these tendencies. To encourage innovation and the diffusion of knowledge, there are no bosses or departments in Irizar. Rather, it has a flat organizational structure based on work teams with a high degree of autonomy. (One study remarks that they “set their own targets, establish their own work schedules, [and] organize the work process as they see fit.”) The teams also work with each other, so that knowledge is transmitted efficiently. Participation occurs also in the general assembly, which meets three times a year rather than the single annual meeting common in other Mondragon firms. Its subsidiaries in other countries have at least two general assemblies a year, where they approve the company’s strategic plan, investments, etc. These participatory structures have enabled Irizar to surpass its competitors in profitability and market share.69

Clearly, Valdez was an apologist for the industrialists and polluters, the big American companies that dominated Costa Rica and other Latin American countries. Not surprising to find such a person here, since the CIA had controlled Costa Rica for decades. This wasn’t a country; it was a subsidiary of American business interests. And American businesses did not give a damn for the environment.

That was not all. When the Jamaican government wanted to buy the country’s oil refinery from an Exxon subsidiary, Marc Rich + Co lent it the money. The trading company even helped to fund Jamaica’s team at the 1984 Olympics in Los Angeles, and paid for it to send a bobsled team to participate in the 1988 Winter Olympics – whose unlikely journey to the Games was chronicled in the Disney film Cool Runnings.15

The Job Application Esteemed gentlemen, I am a poor, young, unemployed person in the business field, my name is Wenzel, I am seeking a suitable position, and I take the liberty of asking you, nicely and politely, if perhaps in your airy, bright, amiable rooms such a position might be free. I know that your good firm is large, proud, old, and rich, thus I may yield to the pleasing supposition that a nice, easy, pretty little place would be available, into which, as into a kind of warm cubbyhole, I can slip. I am excellently suited, you should know, to occupy just such a modest haven, for my nature is altogether delicate, and I am essentially a quiet, polite, and dreamy child, who is made to feel cheerful by people thinking of him that he does not ask for much, and allowing him to take possession of a very, very small patch of existence, where he can be useful in his own way and thus feel at ease. A quiet, sweet, small place in the shade has always been the tender substance of all my dreams, and if now the illusions I have about you grow so intense as to make me hope that my dream, young and old, might be transformed into delicious, vivid reality, then you have, in me, the most zealous and most loyal servitor, who will take it as a matter of conscience to discharge precisely and punctually all his duties. Large and difficult tasks I cannot perform, and obligations of a far-ranging sort are too strenuous for my mind. I am not particularly clever, and first and foremost I do not like to strain my intelligence overmuch. I am a dreamer rather than a thinker, a zero rather than a force, dim rather than sharp. Assuredly there exists in your extensive institution, which I imagine to be overflowing with main and subsidiary functions and offices, work of the kind that one can do as in a dream? --I am, to put it frankly, a Chinese; that is to say, a person who deems everything small and modest to be beautiful and pleasing, and to whom all that is big and exacting is fearsome and horrid. I know only the need to feel at my ease, so that each day I can thank God for life's boon, with all its blessings. The passion to go far in the world is unknown to me. Africa with its deserts is to me not more foreign. Well, so now you know what sort of a person I am.--I write, as you see, a graceful and fluent hand, and you need not imagine me to be entirely without intelligence. My mind is clear, but it refuses to grasp things that are many, or too many by far, shunning them. I am sincere and honest, and I am aware that this signifies precious little in the world in which we live, so I shall be waiting, esteemed gentlemen, to see what it will be your pleasure to reply to your respectful servant, positively drowning in obedience. Wenzel

The most effective leader is the one who satisfies the psychological needs of his followers. For example, it is one thing to be a good leader of Americans, who are raised in a tradition of democracy and have a high need for independence. But the American brand of democratic leadership doesn’t work so well in Europe, where executives have a psychological need for more autocratic leadership. That is one of many reasons why it is wise for American agencies to appoint locals to lead their foreign subsidiaries.

I have used the theologians and their treatment of apocalypse as a model of what we might expect to find not only in more literary treatments of the same radical fiction, but in the literary treatment of radical fictions in general. The assumptions I have made in doing so I shall try to examine next time. Meanwhile it may be useful to have some kind of summary account of what I've been saying. The main object: is the critical business of making sense of some of the radical ways of making sense of the world. Apocalypse and the related themes are strikingly long-lived; and that is the first thing to say tbout them, although the second is that they change. The Johannine acquires the characteristics of the Sibylline Apocalypse, and develops other subsidiary fictions which, in the course of time, change the laws we prescribe to nature, and specifically to time. Men of all kinds act, as well as reflect, as if this apparently random collocation of opinion and predictions were true. When it appears that it cannot be so, they act as if it were true in a different sense. Had it been otherwise, Virgil could not have been altissimo poeta in a Christian tradition; the Knight Faithful and True could not have appeared in the opening stanzas of "The Faerie Queene". And what is far more puzzling, the City of Apocalypse could not have appeared as a modern Babylon, together with the 'shipmen and merchants who were made rich by her' and by the 'inexplicable splendour' of her 'fine linen, and purple and scarlet,' in The Waste Land, where we see all these things, as in Revelation, 'come to nought.' Nor is this a matter of literary allusion merely. The Emperor of the Last Days turns up as a Flemish or an Italian peasant, as Queen Elizabeth or as Hitler; the Joachite transition as a Brazilian revolution, or as the Tudor settlement, or as the Third Reich. The apocalyptic types--empire, decadence and renovation, progress and catastrophe--are fed by history and underlie our ways of making sense of the world from where we stand, in the middest.

Lord Alfred Milner, wealthy Englishman and front man for the Rothschilds, served as paymaster for the international bankers in Petrograd during the Bolshevik Revolution. Milner later headed secret society known as The Round Table which was dedicated to establishing a world government whereby a clique Of super-rich financiers would control the world under the guise of Socialism. The American subsidiary of this conspiracy is called the Council on Foreign Relations and was started by. and is still controlled by Leftist international bankers.

Mrs. Marvell's mind had atrophied to a certain extent; it was subsidiary to her body. Her body was her chief asset, and was therefore her chief care. She cultivated her body assiduously; she massaged it, exercised it, dieted it, manicured it, and anointed it with various oils and lotions. She was fully aware that, when her body was no longer beautiful, James would insist (with perfect right) upon having a model in the house——and, once that started, where were you? So Mrs. Marvell lived for her body, and tended it carefully, and neglected her mind.

Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. Already, in the Eleventh Edition, we’re not far from that point. But the process will still be continuing long after you and I are dead. Every year fewer and fewer words, and the range of consciousness always a little smaller. Even now, of course, there’s no reason or excuse for committing thoughtcrime. It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. The Revolution will be complete when the language is perfect. Newspeak is Ingsoc and Ingsoc is Newspeak,” he added with a sort of mystical satisfaction. “Has it ever occurred to you, Winston, that by the year 2050, at the very latest, not a single human being will be alive who could understand such a conversation as we are having now?

DOG, n. A kind of additional or subsidiary Deity designed to catch the overflow and surplus of the world's worship. This Divine Being in some of his smaller and silkier incarnations takes, in the affection of Woman, the place to which there is no human male aspirant. The Dog is a survival—an anachronism. He toils not, neither does he spin, yet Solomon in all his glory never lay upon a door-mat all day long, sun-soaked and fly-fed and fat, while his master worked for the means wherewith to purchase the idle wag of the Solomonic tail, seasoned with a look of tolerant recognition.

Yes. A custom. Everything according to the rules, then. But Lila, as usual, hadn’t stopped there, she had soon gone further. As we worked with brushes and paints, she told me that she had begun to see in that formula an indirect object of place to which, as if Cerullo Carracci somehow indicated that Cerullo goes toward Carracci, falls into it, is sucked up by it, is dissolved in it. And, from the abrupt assignment of the role of speech maker at her wedding to Silvio Solara, from the entrance into the restaurant of Marcello Solara, wearing on his feet, no less, the shoes that Stefano had led her to believe he considered a sacred relic, from her honeymoon and the beatings, up until that installation—in the void that she felt inside, the living thing determined by Stefano—she had been increasingly oppressed by an unbearable sensation, a force pushing down harder and harder, crushing her. That impression had been getting stronger, had prevailed. Raffaella Cerullo, overpowered, had lost her shape and had dissolved inside the outlines of Stefano, becoming a subsidiary emanation of him: Signora Carracci. It was then that I began to see in the panel the traces of what she was

Our Christian doctrine is a highly differentiated symbol that expresses the transcendent psychic—the God-image and its properties, to speak with Dorn. The Creed is a “symbolum.” This comprises practically everything of importance that can be ascertained about the manifestations of the psyche in the field of inner experience, but it does not include Nature, at least not in any recognizable form. Consequently, at every period of Christianity there have been subsidiary currents or undercurrents that have sought to investigate the empirical aspect of Nature not only from the outside but also from the inside.

But this is not to say that a highly specialized body of belief such as that associated with Faerie is not capable of subsidiary explanations apart from this very general conclusion, specially in connection with those later and accretive ideas which must have grown up around it. Admittedly there is a common basis for the origin of all beliefs associated with the origin of spirits, which is to be found alone in the doctrine of animism. This notwithstanding, and with all due respect to the warnings of Krappe, Hartland, and others concerning the risks accruing to the scientific classification of spiritual forms, certain types of spirits with markedly separate characteristics have assuredly been conceived, and have been given diverse denominations and descriptions by those who believed in their existence. Of this the fairy type is indeed a case in point; and however correct it may be to say that it cannot basically be separated from the ghost, the goblin, or the demon, it has, in the course of ages, assumed characteristics which in a secondary sense distinguish it sufficiently from all of these to permit the scientific observer, and to some extent the peasant or the savage, to rank it as a separate variety of spirit, if not as a distinct species.

In 1938 the biological warfare establishment Unit 731 had been set up outside Harbin in Manchukuo, under the auspices of the Kwantung Army. This huge complex, presided over by General Ishii Shir, eventually employed a core staff of 3,000 scientists and doctors from universities and medical schools in Japan, and a total of 20,000 personnel in the subsidiary establishments. They prepared weapons to spread black plague, typhoid, anthrax and cholera, and tested them on more than 3,000 Chinese prisoners. They also carried out anthrax, mustard-gas and frostbite experiments on their victims, whom they referred to as maruta or ‘logs’.

The age-old trick of transfer pricing Taking advantage of the fact that they operate in countries with different tax rates, TNCs [transnational corporations] have their subsidiaries over-charge or under-charge each other – sometimes grossly – so that profits are highest in those subsidiaries operating in countries with the lowest corporate tax rates. In this way, their global post-tax profit is maximized. A 2005 report by Christian Aid, the development charity, documents cases of under-priced exports like TV antennas from China at $0.40 apiece, rocket launchers from Bolivia at $40 and US bulldozers at $528 and over-priced imports such as German hacksaw blades at $5,485 each, Japanese tweezers at $4,896 and French wrenches at $1,089. The Starbucks and Google cases were different from those examples only in that they mainly involved ‘intangible assets’, such as brand licensing fees, patent royalties, interest charges on loans and in-house consultancy (e.g., coffee quality testing, store design), but the principle involved was the same. When TNCs evade taxes through transfer pricing, they use but do not pay for the collective productive inputs financed by tax revenue, such as infrastructure, education and R&D. This means that the host economy is effectively subsidizing TNCs.

The multinational is in the position of the bank robber in the old West; all he has to do is ride straight and hard to be safe, because the posse can’t cross the border. We have taken over the roles that nations recently held; we wage war, collect taxes through debt service, protect our areas of property and the worker/citizens within those areas, and we distribute power as we see fit.” Think of it this way. I am the baron. Templar international and Margrave Corporation and Avalon State Bank and so on are the castles I have built in different parts of my territory, for defense and expansion. The subsidiary companies we’ve bought or merged with owe their allegiance not to America but to Margrave. We reward loyalty and punish disloyalty. When necessary, we can protect our most important people from the laws of the state, just as the earlier barons could protect their most important vassal knights from the laws of the Catholic Church. The work force is tied to us by profit-sharing and pension plans. I don’t expect national governments to disappear, any more than the British or Dutch royal families have disappeared, but they will become increasingly irrelevant pageants. More and more, actors will play the parts of politicians and statesmen, while the real work goes on elsewhere.

The alteration of the past is necessary for two reasons, one of which is subsidiary and, so to speak, precautionary. The subsidiary reason is that the Party member, like the proletarian, tolerates present-day conditions partly because he has no standards of comparison. He must be cut off from the past, just as he must be cut off from foreign countries, because it is necessary for him to believe that he is better off than his ancestors and that the average level of material comfort is constantly rising. But by far the more important reason for the readjustment of the past is the need to safeguard the infallibility of the Party. It is not merely that speeches, statistics, and records of every kind must be constantly brought up to date in order to show that the predictions of the Party were in all cases right. It is also that no change in doctrine or in political alignment can ever be admitted. For to change one’s mind, or even one’s policy, is a confession of weakness. If, for example, Eurasia or Eastasia (whichever it may be) is the enemy today, then that country must always have been the enemy. And if the facts say otherwise, then the facts must be altered. Thus history is continuously rewritten. This day-to-day falsification of the past, carried out by the Ministry of Truth, is

The loudness of tone in Jane Eyre is undoubtedly effective in communicating tension and frustration, but the style does of course have its related limitations. It precludes the use of the small suggestive detail or the quiet but telling observation that Mrs Gaskell and George Eliot are so good at. In such a fortissimo performance as this, the pianissimo gets drowned out, or noted only as an incongruity (which helps to account for the book's moments of unintended comic bathos). Again, it makes the whole question of modulation of tone a difficult one,6 and it is also hard to manage irony elegantly, as the Brocklehurst and Ingram portraits show. There is unconscious ambiguity but little deliberate irony in Jane Eyre. Hence the remarkable unity of critical interpretation of the book—the reader knows all too well what he is meant to think about the heroine and the subsidiary characters. The novel does not merely request our judicious sympathy for the heroine, it demands that we see with her eyes, think in her terms, and hate her enemies, not just intermittently (as in David Copperfield) but in toto. It was, incidentally, because James Joyce recognised the similar tendency of Stephen Hero that he reshaped his autobiographical material as A Portrait of the Artist as a Young Man, retaining the 'first-person effect' but building in stylistic and structural irony that would guard against the appearance of wholesale authorial endorsement of Stephen.

But we understand our liberty in a more positive sense as well, in the idea of opportunity and the subsidiary values that help realize opportunity—all those homespun virtues that Benjamin Franklin first popularized in Poor Richard's Almanack and that have continued to inspire our allegiance through successive generations. The values of self-reliance and self-improvement and risk-taking. The values of drive, discipline, temperance, and hard work. The values of thrift and personal responsibility. These values are rooted in a basic optimism about life and a faith in free will—a confidence that through pluck and sweat and smarts, each of us can rise above the circumstances of our birth. But these values also express a broader confidence that so long as individual men and women are free to pursue their own interests, society as a whole will prosper.

The fact that publicity is eventless would be immediately obvious if it did not use a language which makes of tangibility an event in itself. Everything publicity shows is there awaiting acquisition. The act of acquiring has taken the place of all other actions, the sense of having has obliterated all other senses. Publicity exerts an enormous influence and is a political phenomenon of great importance. But its offer is as narrow as its references are wide. It recognizes nothing except the power to acquire. All other human faculties or needs are made subsidiary to this power. All hopes are gathered together, made homogeneous, simplified, so that they become the intense yet vague, magical yet repeatable promise offered in every purchase. No other kind of hope or satisfaction or pleasure can any longer be envisaged within the culture of capitalism.

R.J. Reynolds owns a subsidiary called RJR Packaging, which produces packaging used on many food products for both human and pet consumption.[276] They also produce packaging for many medical devices and over-the-counter medications, as well as personal care, coffee, and confectionary products.[277] In order to remain in business, a company must be profitable. In order to remain profitable in the face of extensive, long-term compulsory levies by state governments via the tobacco settlement, the costs of products must go up so that income remains higher than expenses. Thus, Altria can raise prices on their Kraft food products you buy in order to pay off their tobacco settlement. R.J. Reynolds can pass along the cost by raising packaging costs for manufacturers of many different types of consumer products, who pass the increased production costs along to you.

The growth of international bureaucracies with power to determine many aspects of people’s lives is a dominant feature of our age. Even the European Union is increasingly powerless, as it merely transmits to its member states rules set at higher levels. Food standards, for example, are decided by a United Nations body called the Codex Alimentarius. The rules of the banking industry are set by a committee based in Basel in Switzerland. Financial regulation is set by the Financial Stability Board in Paris. I bet you have not heard of the World Forum for the Harmonisation of Vehicle Regulations, a subsidiary of the UN. Even the weather is to be controlled by Leviathan in the future. In an interview in 2012, Christiana Figueres, head of the United Nations Framework Convention on Climate Change, said she and her colleagues were inspiring government, private sector and civil society to make the biggest transformation that they have ever undertaken: ‘The Industrial Revolution was also a transformation, but it wasn’t a guided transformation from a centralized policy perspective. This is a centralized transformation.’ Yet

If talking pictures could be said to have a father, it was Lee De Forest, a brilliant but erratic inventor of electrical devices of all types. (He had 216 patents.) In 1907, while searching for ways to boost telephone signals, De Forest invented something called the thermionic triode detector. De Forest’s patent described it as “a System for Amplifying Feeble Electric Currents” and it would play a pivotal role in the development of broadcast radio and much else involving the delivery of sound, but the real developments would come from others. De Forest, unfortunately, was forever distracted by business problems. Several companies he founded went bankrupt, twice he was swindled by his backers, and constantly he was in court fighting over money or patents. For these reasons, he didn’t follow through on his invention. Meanwhile, other hopeful inventors demonstrated various sound-and-image systems—Cinematophone, Cameraphone, Synchroscope—but in every case the only really original thing about them was their name. All produced sounds that were faint or muddy, or required impossibly perfect timing on the part of the projectionist. Getting a projector and sound system to run in perfect tandem was basically impossible. Moving pictures were filmed with hand-cranked cameras, which introduced a slight variability in speed that no sound system could adjust to. Projectionists also commonly repaired damaged film by cutting out a few frames and resplicing what remained, which clearly would throw out any recording. Even perfect film sometimes skipped or momentarily stuttered in the projector. All these things confounded synchronization. De Forest came up with the idea of imprinting the sound directly onto the film. That meant that no matter what happened with the film, sound and image would always be perfectly aligned. Failing to find backers in America, he moved to Berlin in the early 1920s and there developed a system that he called Phonofilm. De Forest made his first Phonofilm movie in 1921 and by 1923 he was back in America giving public demonstrations. He filmed Calvin Coolidge making a speech, Eddie Cantor singing, George Bernard Shaw pontificating, and DeWolf Hopper reciting “Casey at the Bat.” By any measure, these were the first talking pictures. However, no Hollywood studio would invest in them. The sound quality still wasn’t ideal, and the recording system couldn’t quite cope with multiple voices and movement of a type necessary for any meaningful dramatic presentation. One invention De Forest couldn’t make use of was his own triode detector tube, because the patents now resided with Western Electric, a subsidiary of AT&T. Western Electric had been using the triode to develop public address systems for conveying speeches to large crowds or announcements to fans at baseball stadiums and the like. But in the 1920s it occurred to some forgotten engineer at the company that the triode detector could be used to project sound in theaters as well. The upshot was that in 1925 Warner Bros. bought the system from Western Electric and dubbed it Vitaphone. By the time of The Jazz Singer, it had already featured in theatrical presentations several times. Indeed, the Roxy on its opening night in March 1927 played a Vitaphone feature of songs from Carmen sung by Giovanni Martinelli. “His voice burst from the screen with splendid synchronization with the movements of his lips,” marveled the critic Mordaunt Hall in the Times. “It rang through the great theatre as if he had himself been on the stage.

Yes, that’s the one. Aaron, I want you to acquire the company tomorrow. Start low, but I want you to end up offering at least fifteen million for it. Actually, how many partners are there?” “I see two registered partners. Michael Teo and Adrian Balakrishnan.” “Okay, bid thirty million.” “Charlie, you can’t be serious? The book value on that company is only—” “No, I’m dead serious,” Charlie cut in. “Start a fake bidding war between some of our subsidiaries if you have to. Now listen carefully. After the deal is done, I want you to vest Michael Teo, the founding partner, with class-A stock options, then I want you to bundle it with that Cupertino start-up we acquired last month and the software developer in Zhongguancun. Then, I want us to do an IPO on the Shanghai Stock Exchange next month.” “Next month?” “Yes, it has to happen very quickly. Put the word out on the street, let your contacts at Bloomberg TV know about it, hell, drop a hint to Henry Blodget if you think it will help drive up the share price. But at the end of the day I want those class-A stock options to be worth at least $250 million. Keep it off the books, and set up a shell corporation in Liechtenstein if you have to. Just make sure there are no links back to me. Never, ever.

The ontological argument is neither argument nor proof, but merely the psychological demonstration of the fact that there is a class of men for whom a definite idea has efficacy and reality—a reality that even rivals the world of perception. The sensualist brags about the undeniable certainty of his reality, and the idealist insists on his. Psychology has to resign itself to the existence of these two (or more) types, and must at all costs avoid thinking of one as a misconception of the other; and it should never seriously try to reduce one type to the other, as though everything “other” were merely a function of the one. This does not mean that the scientific axiom known as Occam’s razor—“explanatory principles should not be multiplied beyond the necessary”—should be abrogated. But the need for a plurality of psychological explanatory principles still remains. Aside from the arguments already adduced in favour of this, our eyes ought to have been opened by the remarkable fact that, notwithstanding the apparently final overthrow of the ontological proof by Kant, there are still not a few post-Kantian philosophers who have taken it up again. And we are today just as far or perhaps even further from an understanding of the pairs of opposites—idealism / realism, spiritualism / materialism, and all the subsidiary questions they raise—than were the men of the early Middle Ages, who at least had a common philosophy of life.

Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed, will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. Already, in the Eleventh Edition, we’re not far from that point. But the process will still be continuing long after you and I are dead. Every year fewer and fewer words, and the range of consciousness always a little smaller. Even now, of course, there’s no reason or excuse for committing thoughtcrime. It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. The Revolution will be complete when the language is perfect. Newspeak is Ingsoc and Ingsoc is Newspeak,’ "اصلا متوجه شده ای کل مقصود نوگفتار اینه که گسترهی تفکر رو محدود کنه؟ آخر سر کاری میکنیم که پندار مجرمانه عملا ناممکن بشه، چون واژهایی برای بیانش وجود نخواهد داشت. هر مفهومی که یک موقعی بتونه به درد بخوره دقیقا با یک کلمه بیان می شه که معناش سخت گیرانه تعیین شده و تمام معناهای ضمنیش حذف و فراموش شده همین حالا، توی چاپ یازدهم، با این مرحله خیلی فاصله داریم، اما این فرایند تا مدتها بعد از این که من و تو هم مردیم باز ادامه پدا می کنه. هر سال واژه هاکم و کمتر میشن و عرصه ی آگاهی یک خرده تنگتر. البته، الآن هم، هیچ دلیل و توجیهی برای ارتکاب پندار مجرمانه وجود نداره. قضیه صرفا به انضباط شخصی و تسلط به واقعیت مربوط میشه اما در نهایت به این هم نیازی نخواهد بود انقلاب زمانی تکمیل میشه که زبان به کمال برسه.

Prisons are racism incarnate. As Michelle Alexander points out, they constitute the new Jim Crow. But also much more, as the lynchpins of the prison-industrial complex, they represent the increasing profitability of punishment. They represent the increasingly global strategy of dealing with populations of people of color and immigrant populations from the countries of the Global South as surplus populations, as disposable populations. Put them all in a vast garbage bin, add some sophisticated electronic technology to control them, and let them languish there. And in the meantime, create the ideological illusion that the surrounding society is safer and more free because the dangerous Black people and Latinos, and the Native Americans, and the dangerous Asians and the dangerous White people, and of course the dangerous Muslims, are locked up! And in the meantime, corporations profit and poor communities suffer! Public education suffers! Public education suffers because it is not profitable according to corporate measures. Public health care suffers. If punishment can be profitable, then certainly health care should be profitable, too. This is absolutely outrageous! It is outrageous. It is also outrageous that the state of Israel uses the carceral technologies developed in relation to US prisons not only to control the more than eight thousand Palestinian political prisoners in Israel but also to control the broader Palestinian population. These carceral technologies, for example, the separation wall, which reminds us of the US-Mexico border wall, and other carceral technologies are the material constructs of Israeli apartheid. G4S, the organization, the corporation G4S, which profits from the incarceration and the torturing of Palestinian prisoners, has a subsidiary called G4S Secure Solutions, which was formerly known as Wackenhut. And just recently a subsidiary of that just have one more page of notes corporation, GEO Group, which is a private prison company, attempted to claim naming rights at Florida Atlantic University by donating something like $6 million, right? And, the students rose up. They said that our football stadium will not bear the name of a private prison corporation! And the students won. The students won; the name came down from the marquee.

What this typographical distinction should make immediately apparent in the passage is the highly subsidiary role of narration in comparison to direct speech by the characters.

Exploitation: early entrants make use of the wealth of opportunity in their environment to multiply. Most fail, not least because they are poorly-connected individuals facing a dangerous world on their own, but some may eventually build a system with potential and connectedness. This is known as the r phase: r has for many years been used as a label for the rate of growth of the population of an ecology (example of phase: young trees).2 2. Conservation: the system persists in its mature form, with the benefit of a complex structure of connections, strong enough now to resist challenges for a long time, but with the weakness that the connections themselves introduce an element of rigidity, slowing down its reactions and reducing its inventiveness. This is the K phase, where the ecology reaches its carrying capacity (example: mature trees).3 In due course, however, the tight connections themselves become a decisive problem, which can only be resolved by . . . The back loop (moving from bottom-right to top-left in the diagram): 3. . . . release: at this point, the cost and complication of maintaining the large scale—providing the resources the system needs, and disposing of its waste—becomes too great. The space and flexibility for local responsiveness had become scarce, the system itself so tightly connected that it locked: a target for predators without and within, against which it found it harder and harder to defend itself. But now the stresses join up, and the system collapses (example: dying trees). This is the omega (Ω) phase, as suggested by Holling and Gunderson, and it is placed by them in its ecological context: The tightly bound accumulation of biomass and nutrients becomes increasingly fragile (overconnected, in systems terms) until it is suddenly released by agents such as forest fires, droughts, insect pests, or intense pulses of grazing.4 4. Reorganisation: the remains of a system after collapse are unpromising material on which to start afresh, and yet they are an opportunity for a different kind of system to enjoy a brief flowering—decomposing the wood of a former forest, recycling the carbon after a fire, restoring the land with forgiving grass, clearing away the assumptions and grandeur of the previous regime. Reorganisation becomes a busy system in its own right (example: rotting trees). This is the alpha (α) phase.5 In this phase, there is a persistent process of disconnecting, with the former subsidiary parts of the system being broken up. But our diagram is drawn on a graph of potential (increasing from bottom to top) and connectedness (increasing from left to right), which allows us to note a curious aspect of this back loop: the defining relationship of the fore loop—where more potential is correlated with more connectedness—is reversed. In the back loop (even) less connectedness goes with more potential. How can this be?

Since 1884 Bath Iron Works was incorporated by General Thomas W. Hyde who had served in the Union Army during the Civil War. At first the shipyard made iron hardware and windlasses for the wooden ships of the day but soon built warships for the United States Navy although it also started builting commercial vessels. The USS Machias a schooner rigged, steam driven, gunboat was one of two 190-foot (58 m) gunboats, first built by the company. It has been said that Chester Nimitz commanded the Machias during World War I, although this has not been substantiated. In 1892 the yard built their first commercial vessel, the 2,500-ton steel passenger steamer the SS City of Lowell. From these humble beginnings BIW became a major United States shipyard and has designed and built almost every type of naval vessel that the US Navy had or has, including the new stealth destroyers of the Zumwalt class. I first saw Bath Iron Works when I crossed the Kennebec River in 1952. I wrote about this in “Seawater One” describing how our bus crossed on the Carlton Lift Bridge and how I saw the USS Dealey (DE-1006) being built. During World War II, ships built at BIW were considered by Navy officers and sailors to be the toughest afloat, giving rise to the slogan "Bath-built is best-built." In 1995, BIW became a subsidiary of General Dynamics and at that time was the fifth-largest defense contractor in the world.

Mormonism emerged in the nineteenth century as one of the few religious expressions in American culture with no antecedents anywhere else. It quickly spread to Europe and elsewhere, but the new faith owed little to those churches and confessions that were originally brought to North America from other continents. Yet, like all religious expressions, Mormonism reflected the historical conditions in which it arose and took distinctive shape. Alongside their restorationist hopes, perfectionist aspirations, and millennialist dreams, faithful Mormons embodied social attitudes common to the culture that nurtured them. One of these subsidiary viewpoints was prejudice toward black people, and this volume provides detailed analysis of that attitude over the course of approximately 150 years. Professor Bringhurst provides us with a case study of how cultural influences are often absorbed by religious groups and then become perpetuated as part of the sacred tradition. Using Mormon racial discrimination as a specific example, he shows how an early social attitude can be codified as part of religious behavior itself and then survive long after the demise of conditions that initially generated it. Bringhurst carefully elucidates how early Mormon doctrine correlated ideas of sin, depravity, and dark-skinned peoples. He shows why men saw ordination to the priesthood and women saw marriage to men ordained to the priesthood as crucial elements in the salvation process. Then with

GOOGLE VERSUS THE REST But if the next deep learning is destined to be discovered in the corporate world, Google has the best shot at it. Among the Seven AI Giants, Google—more precisely, its parent company, Alphabet, which owns DeepMind and its self-driving subsidiary Waymo—stands head and shoulders above the rest.

Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten.

The multinational is a problem precisely because its decisions are based on economic rationality and divorced from political sovereignty. There is no solution. The multinational is a political problem not because of anything it does or does not do. It is a problem because political sovereignty and economic reality no longer coincide. It does the multinational no good to protest that it and each of its subsidiaries are “good corporate citizens” of the country in which each operates. Of course, it and each of its subsidiaries observe the laws—at least to the same extent to which the country’s nationals observe it. But if the phrase is meant to imply—as it usually does—that the multinational in every country in which it operates thinks and acts in terms of that country’s national economy and market, it is nonsense. To do so would deny the whole logic of the multinational corporation, which is to optimize resources within the world market reality.

The reasons for cooperatives’ success should be obvious by now, but they are worth reiterating: “The major basis for cooperative success…has been superior labor productivity. Studies comparing square-foot output have repeatedly shown higher physical volume of output per hour, and others…show higher quality of product and also economy of material use.”118 Hendrik Thomas concludes from an analysis of Mondragon that “Productivity and profitability are higher for cooperatives than for capitalist firms. It makes little difference whether the Mondragon group is compared with the largest 500 companies, or with small- or medium-scale industries; in both comparisons the Mondragon group is more productive and more profitable.”119 As we have seen, recent research has arrived at the same conclusions. It is a truism by now that worker participation tends to increase productivity and profitability. Research conducted by Henk Thomas and Chris Logan corroborates these conclusions. “A frequent but unfounded criticism,” they observe, “of self-managed firms is that workers prefer to enjoy a high take-home pay rather than to invest in their own enterprises. This has been proven invalid…in the Mondragon case… A comparison of gross investment figures shows that the cooperatives invest on average four times as much as private enterprises.” After a detailed analysis they also conclude that “there can be no doubt that the [Mondragon] cooperatives have been more profitable than capitalist enterprises.”120 Recent data indicate the same thing.121 One particularly successful company, Irizar, which was mentioned earlier, has been awarded prizes for being the most efficient company in its sector; in Spain it has ten competitors, but its market share is 40 percent. The same level of achievement is true of its subsidiaries, for instance in Mexico, where it had a 45 percent market share in 2005, six years after entering the market. An author comments that “the basis for this increased efficiency appears to be linked directly to the organization’s unique participatory and democratic management structure.”122 A major reason for all these successes is Mondragon’s federated structure: the group of cooperatives has its own supply of banking, education, and technical support services. The enormous funds of the central credit union, the Caja Laboral Popular, have likewise been crucial to Mondragon’s expansion. It proves that if cooperatives have access to credit they are perfectly capable of being far more successful than private enterprises.

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I am a dreamer rather than a thinker, a zero rather than a force, dim rather than sharp. Assuredly there exists in your extensive institution, which I imagine to be overflowing with main and subsidiary functions and offices, work of the kind that one can do as in a dream? ... Well, so now you know what sort of a person I am. – I write, as you see, a graceful and fluent hand, and you need not imagine me to be entirely without intelligence. My mind is clear, but it refuses to grasp things that are many, or too many by far, shunning them. I am sincere and honest, and I am aware that this signifies precious little in the world in which we live, so I shall be waiting, esteemed gentlemen, to see what it will be your pleasure to reply to your respectful servant, positively drowning in obedience, Wenzel

The bank knew exactly what it was looking for and how to go about it. There was consensus on two critical aspects: the system had to be centralized and had to be based on UNIX, even if that meant spending tonnes of money. MicroBanker, a fully integrated online banking automation system, developed by Citicorp Information Technology Industries Ltd (Citil), a Citibank subsidiary, fit the bill, but Citil was not willing to deal with HDFC Bank. A small outfit, Citil thought, would not be able to afford the system. Citil was expanding operations in Africa and Europe and was not too keen to sell the software to a start-up Indian bank. While Citil reluctantly made a presentation on the system, Citibank intervened before a deal could be signed, saying that selling MicroBanker to HDFC Bank could give the Indian bank more muscle as a competitor. Aditya had to call Rajesh Hukku, Citil head, to play ball and he relented. Citil later became i-Flex Solutions Ltd (now Oracle Financial Services Software Ltd).

It may be argued that the host country should not complain about transfer pricing, because, without the foreign direct investment in question, the taxable income would not have been generated in the first place. But this is a disingenuous argument. All firms need to use productive resources provided by government with taxpayers' money (e.g., roads, the telecommunications network, workers who have received publicly funded education and training). So, if the TNC subsidiary is not paying its 'fair share' of tax, it is effectively free-riding on the host country.

A critical but often ignored impact of FDI is that on the (current and future) domestic competitors. An entry by a TNC through FDI can destroy existing national firms that could have 'grown up' into successful operations without this premature exposure to competition, or it can pre-empt the emergence of domestic competitors. In such cases, short-run productive capabilities are enhanced, as the TNC subsidiary replacing the (current and future) national firms is usually more productive than the latter. But the level of productive capability that the country can attain in the long run becomes lower as a result. This is because TNCs do not, as a rule, transfer the most valuable activities outside their home country, as I will discuss in greater detail later. As a result, there will be a definite ceiling on the level of sophistication that a TNC subsidiary can reach in the long run. To go back to the Toyota example in chapter 1, had Japan liberalized FDI in its automobile industry in the 1960s, Toyota definitely wouldn't be producing the Lexus today-it would have wiped out or, more likely, have become a valued subsidiary of an American carmaker. Given this, a developing country may reasonably decide to forego short-term benefits from FDI in order to increase the chance for its domestic firms to engage in higher-level activities in the long run, by banning FDI in certain sectors or regulating it. This is exactly the same logic as that of infant industry protection that I discussed in the earlier chapters-a country gives up the short-run benefits of free trade in order to create higher productive capabilities in the long run. And it is why, historically, most economic success stories have resorted to regulation of FDI, often in a Draconian manner, as I shall now show.

The pioneers of the post-independence IB must be saluted for giving the country an efficient tool of national security in spite of the fact that the ruling class generally tried to use it for protecting and promoting their elite club. They never thought it fit to adopt a constitutionally validated Act to govern the IB and its sister organisations. The IB and the R&AW etc are the only organs of the government that are not accountable to any elected constitutional body of India and are not governed by any Act of the Parliament. They are subsidiary bureaus and departments.

IG Farben's dividends double in the first year that its subsidiary sent Zyklon-B to gas death-camp

Between 1940 and 1970, output per person and output per hour continued to increase rapidly, in part as a result of three of the most important subsidiary spinoffs of IR #2—air conditioning, the interstate highway system, and commercial air transport—while the world of personal entertainment was forever altered by television.

The alteration of the past is necessary for two reasons, one of which is subsidiary and, so to speak, precautionary. The subsidiary reason is that the Party member, like the proletarian, tolerates present-day conditions partly because he has no standards of comparison. He must be cut off from the past, just as he must be cut off from foreign countries, because it is necessary for him to believe that he is better off than his ancestors and that the average level of material comfort is constantly rising. But by far the more important reason for the readjustment of the past is the need to safeguard the infallibility of the Party. It

Farrell Lines was a concept envisioned by James A. Farrell Sr., the son of a ship’s captain and the president of the United States Steel Corporation during World War II. In 1910 he had already, established the Isthmian Steamship Company as a subsidiary of U.S. Steel with the primary purpose of reducing the costs of shipping the company’s freight. As the president of U.S. Steel he saved the company considerable money and because of this he decided to start his own steamship companies. By 1928, Farrell had three of the most prestigious companies in the Maritime Industry: Argonaut Lines, American South African Lines and Robin Lines with their ships flying the South African flag.

Every novelist of serious pretensions adopts an ironic attitude towards his upper-class characters. Indeed when a novelist has to put a definitely upper-class person--a duke or a baronet or whatnot--into one of his stories he guys him more or less instinctively. There is an important subsidiary cause of this in the poverty of the modern upper-class dialect. The speech of 'educated' people is now so lifeless and characterless that a novelist can do nothing with it. By far the easiest way of making it amusing is to burlesque it, which means pretending that every upper-class person is an ineffectual ass. The trick is imitated from novelist to novelist, and in the end becomes almost a reflex action.

Rudolf Hess, and other well-known Thule Society colleagues who had infiltrated the Nazi Party, worked closely with Canaris in directing substantial resources down to Antarctica. The German Navy was a key component at this time, since only it could provide the large cargo submarines Type X (XB) U-boats which were built by a Krupp subsidiary in Kiel) to move all that was necessary down to Antarctica.

Rowan liked to point out that Norwegian Cruise Lines, another Apollo company, had 600 subsidiaries. “Did each one of those entities require independent directors?” he would ask rhetorically.

We tend to let our many subsidiaries operate on their own, without our supervising and monitoring them to any degree. That means we are sometimes late in spotting management problems and that both operating and capital decisions are occasionally made with which Charlie and I would have disagreed had we been consulted. Most of our managers, however, use the independence we grant them magnificently, rewarding our confidence by maintaining an owner-oriented attitude that is invaluable and too seldom found in huge organizations. We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly — or not at all — because of a stifling bureaucracy.

Dog: A kind of additional or subsidiary Deity designed to catch the overflow and surplus of the world’s worship.” AMBROSE BIERCE (1842

Imperial governance was programmatic in that it was guided by coherent ideals and goals. All kings and emperors – like modern governments – had to react to circumstances and improvise, but they were not simply at the mercy of events. The difference lies in what they were trying to achieve. ‘State’ and ‘nation’ were not yet clearly delineated concepts functioning as focused policy objectives. Kings and emperors were not state-or nation-builders, because no one felt either needed building. Medieval monarchs were expected to build churches and cathedrals. Otherwise, their role was primarily to uphold peace, justice and the honour of the Empire. Changing circumstances, like violence, rebellions, or invasions, were not seen as ‘problems’ to be ‘solved’ through new laws, better institutions, or more coherent frontiers. Most of the misunderstandings surrounding the Empire’s political history stem from attempts to impose anachronistic expectations on its rulers’ behaviour. For most of the Empire’s existence, imperial governance was guided by the prevailing ideals of good kingship. Imperial and royal powers were never explicitly delineated. It was accepted by the twelfth century that the emperor possessed exclusive prerogatives (jura caesarea reservata  ) largely relating to a clearer understanding of his position as feudal overlord. Subsidiary reserved powers (jura caesarea reservata limitata  ) could be exercised with the advice of great lords. These were identified more precisely from the mid-fourteenth century and included declarations of war and the imperial ban.

virtue of the synthetic doctrine which has been already formulated, they were all magically possible, but they were all subsidiary to that which was head and crown of all--the art of dealing with spirits. The

Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed, will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. Already, in the Eleventh Edition, we’re not far from that point. But the process will still be continuing long after you and I are dead. Every year fewer and fewer words, and the range of consciousness always a little smaller. Even now, of course, there’s no reason or excuse for committing thoughtcrime. It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. The Revolution will be complete when the language is perfect. Newspeak is Ingsoc and Ingsoc is Newspeak,’ he added with a sort of mystical satisfaction. ‘Has it ever occurred to you, Winston, that by the year 2050, at the very latest, not a single human being will be alive who could understand such a conversation as we are having now?

Where it was deemed appropriate to do so, information is supplied in footnotes from subsidiary Jewish traditions concerning other textual readings (the Tiqqune Sopherim, “emendations of the scribes”). These are identified in the footnotes as “Ancient Heb tradition.

Ad hoc committees can be a sign of a prescient leadership structure, proactively dealing with serious topics of concern, or they can be a sign of ineptitude at the board level, which then shove off issues to some subsidiary group to deal with, rather than facing unpleasant truths.

friendship and your spirit . . .” the ad continued. “You taught us how to stand on our own. You built us to last. And even though you’re no longer coaching our team, we’re going to do our best to keep making you proud.” Claris continued as an Apple subsidiary until 1998.

We want to move a thousand of these,” Cowboy says. “All perfect, all Orbital quality, made for Yoyodyne by their Olivetti subsidiary. OCM Twenty-two Eighty-ones, to be precise.” There are matrices times fifteen K in the panzer, but he doesn’t want to take more of the Hetman’s property than necessary. He hasn’t forgotten whom Sarah is really working for.

Ivar had faced a difficult question: How could he raise capital from investors who wanted a share of his company’s upside without giving them too much power over how the company was to be governed? Ivar didn’t want foreigners intruding on his Swedish companies, but he wanted their money. How could he get more cash from investors without giving them control? Historically, companies had tried various responses to this quandary, with little success. During the late nineteenth century, many companies had been resigned to the fact that they would have to give votes to all of their investors. Even the preferred shares of major industrial trusts (Steel Corporation, the American Woolen Company, and the American Shipbuilding Company, for example) had voting rights.17 Nearly every corporation gave votes to all of its shareholders, including both common and preferred shares. Years earlier, Coca-Cola had devised one awkward solution. It was a publicly listed and widely owned corporation, but 251,000 of its 500,000 shares were held by the Coca-Cola International Company, which was owned by a knot of insiders who held control.18 A few companies had followed CocaCola’s two-company approach: Associated Gas and Electric Securities Corporation held a controlling stake in Associated Gas and Electric Company; Armour and Company of Delaware was controlled by Armour and Company of Illinois.19 But that structure was clumsy and raised legal uncertainties about the relationships between parent and subsidiary.

If a company did not own a majority of a subsidiary’s shares, it didn’t make sense to “consolidate” that subsidiary by reporting all of its assets and liabilities. Berning treated International Match’s minority stakes in other companies as investments in special purpose entities, which could be excluded from International Match’s financial statements. Why would International Match consolidate the debts of a minority investment? If it bought some shares of RCA, would it need to include RCA’s debts as well? No, Berning said. Such debts were deemed to be off the balance sheet. Durant was conflicted about the new preferred issue they were planning. Ivar’s financial statements were sloppy and incomplete. Yet investors nevertheless clamored to buy securities of International Match.

After the war, successive British governments urged BMC especially (they had less influence over US-owned Ford, or General Motors’ subsidiaries in the UK) to sell every car they could overseas—as part of the desperate search for foreign currency earnings to offset the country’s huge war debts (the official government export target at the end of the 1940s was 75 percent of all UK car production). The company duly and deliberately neglected quality control in favor of rapid output.

There was one major problem with this provision. International Match did not have 17 million dollars. Indeed, International Match did not have any money. Remember that Ivar previously had moved all of the cash International Match had raised from the gold debentures to Continental, the Liechtenstein subsidiary. Then, he had used the cash from the participating preferred shares to repay the gold debentures. That meant all the money was gone. In order to comply with the secret Poland contract, International Match would need to raise another 17 million dollars right away. In other words, Ivar had signed a promise to give Poland 17 million dollars he didn’t have. The second Poland agreement also contained some extraordinary protections for International Match, terms that would have impressed Lee Higginson’s bankers, if they had seen them. For example, Ivar obtained an agreement that if “for one reason or another” Garanta did not earn enough profit to pay the 24 percent interest payments due to Poland, those payments would be covered by “the income of the Polish Alcohol Monopoly or … the Polish Tobacco Monopoly.”34 In other words, Ivar obtained a promise of payment supported not only by the match monopoly, but by unaffiliated monopolies on alcohol and tobacco. Ivar also included a binary foreign exchange option, a kind of derivative contract, to protect International Match from any declines in the value of the dollar: “International Match Corporation shall have the right to obtain payment of interest in Dutch guilders or US dollars according to its choice and for all such payments one dollar shall be counted as 2½ guilders.”35 Given that Garanta’s shareholders would be nominated by Dr Glowacki, how would Ivar retain control of Garanta? Here, as well, Ivar created another innovative financial provision: During the first four years until October 1, 1929, International Match Corporation shall have the right to appoint the managing director of Garanta who is alone entitled to sign for the company. On or after October 1, 1929, International Match Corporation has the right to acquire 60 percent of the shares at par.36 This option term secured both initial control over Garanta and the right to own a majority of Garanta’s shares in the future. Either way, Ivar, not Dr Glowacki, would have control.

Would routine exams of holding company subsidiaries by the Fed, as Ned had proposed, have made a difference? Probably yes, although the difference might not have been large,

As Durant explored the Poland deal, though, he realized that its terms were uncertain as well. It wasn’t even clear how Ivar would get the money to Poland, or even whether it already was there. Had Ivar personally loaned Poland 6 million dollars? Would the money come from Swedish Match? Or perhaps another of Ivar’s rapidly multiplying subsidiaries? Durant didn’t yet know about Continental Investment Corporation, the secret company Ivar and Ernst August Hoffman had set up in Liechtenstein to shelter International Match’s income. Durant wondered whether some of Ivar’s various unnamed subsidiaries – the ones whose balance sheets were hidden from view – might play an important role in Poland. No one knew the answers to these questions, and Ivar said he wouldn’t divulge details until a second, secret deal with Poland was closed.

opened a large bank during this period. Today, it has about ten corporate subsidiaries.

In the traditional model, the dominant form of ownership is state ownership. The state owns the land and all other natural resources and all the enterprises and their productive assets. Collective ownership (e.g. the property of collective farms) also exists, but plays a subsidiary role, and is expected to be temporary. In due course, it is expected to be transformed into the higher form of state ownership.

The Government Securities Act (GSA) of 1986 was passed and signed by President Reagan, which required government securities dealers to register with the SEC or be regulated as subsidiaries of banks. The Secretary of the Treasury had the authority to make rules for custody, the proper use of customer securities, net capital ratios, and the allowable leverage for Repo transactions. Not surprising, customers were still unwilling to invest their cash in hold-in-custody Repo after 1984.

It tells the story of IBM’s conscious involvement—directly and through its subsidiaries—in the Holocaust, as well as its involvement in the Nazi war machine that murdered millions of others throughout Europe.

During this decade, one of the most important features of the new Koch Industries was the impervious strength of its corporate veil—the legal barrier that separated Koch’s various divisions. Under the new structure, Koch Industries became little more than a holding company, a big investment firm that owned a lot of smaller, nominally independent firms. And those companies would be strictly segregated from one another, and from Koch central, by a thick wall designed to be legally impenetrable. The corporate veil became reflected in the vocabulary of Koch employees. They didn’t refer to the company’s subsidiaries as units or divisions, but as “companies,” reinforcing the notion that each unit was fully independent. Many of these “companies” developed their own internal systems for human resources, information technology, and other services, creating just the kind of big, redundant systems that most US corporations were striving to eliminate. These redundancies might have cost Koch money, but their value far outstripped the cost. Koch could now argue persuasively that each company division was a stand-alone company, one that could assume its own liabilities. Never again would angry creditors be able to threaten the cash reserves of Koch Industries’ central treasury, as the lawyers from Purina Mills had done. Now liability would only travel to the top of each company that Koch held.

This sordid exercise has a soothing, if mystifying name: ‘dividend recapitalisation’ – though to call it that would be akin to relabelling a bank robbery as ‘asset redistribution’. The private equity firm that cost Gillian her job has practised straightforward asset-stripping, with financialisation providing the necessary smoke and mirrors. Looters, who have created no new value, have simply ransacked a pre-existing care provider. To use the language of early economists like Adam Smith, it is a classic case of feudal rent defeating capitalist profit; of wealth extraction by those who already have it triumphing over the creation of new wealth by entrepreneurs. And the key point to note is that the success of such a scheme depends on these looters being able to sell subsidiaries like PropCom at high enough prices once the original company has been destroyed.

In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed, will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten.

Micky had another high finance trick up his sleeve: That year, P&R sold coal properties to Reading Anthracite, its wholly owned subsidiary, taking equity and debt in return. Instead of bringing up operating profit, P&R accounted for the proceeds as debt repayment from Reading Anthracite and paid it out as a mostly tax-free distribution. This allowed the operating profits at the subsidiary to be upstreamed to the parent not as a dividend, but rather as repayment of intercompany debt, which in turn allowed the distribution by the parent to shareholders to be treated as a mostly tax-free distribution.166

Newman preferred to buy businesses whose management would stay in place to run their companies as subsidiaries of P&R. And he preferred to use his network to source deals rather than rely on investment bankers.

P&R acquired Union Underwear for $15 million. The deal was a big swing for P&R, with the purchase price equal to 35% of its beginning-of-the-year assets. But beneath the big headline number, there were several factors that reduced risk. The deal was done at a salivating valuation: Union was earning $3 million in pre-tax profits—one-fifth of the purchase price—that would be partially sheltered by P&R’s tax loss. Moreover, P&R structured the compensation of Union’s management in an attractive manner: The company provided Goldfarb with a five-year management contract as well as a bonus of 10% of the subsidiary’s operating profits (subject to both a minimum and a cap), ensuring he stayed on and incentivizing him to grow the business.160 Finally, the deal’s consideration was also interesting, which Buffett later reminisced about in the 2001 Berkshire Hathaway chairman’s letter: The [Union Underwear] company possessed $5 million in cash—$2.5 million of which P&R used for the purchase—and was earning about $3 million pre-tax, earnings that could be sheltered by the tax position of P&R. And, oh yes: Fully $9 million of the remaining $12.5 million due was satisfied by non-interest-bearing notes, payable from 50% of any earnings Union had in excess of $1 million. (Those were the days; I get goosebumps just thinking about such deals.)161 Although the P&R board had approved the Union acquisition, Ben Graham was angered by its conservatism and pushed to add more directors. The other members obliged, ceding five additional seats to Graham allies. Jack Goldfarb and Louis Green of Stryker & Brown—the same Louis Green from the Marshall-Wells chapter—were among those added.