# Sooty Emissions

> A deep dive into the political takedown of Eliot Spitzer, the collapse of auction rate securities, and the corporate propaganda of the global oil industry.

- **Show:** [The No Agenda Show](https://search.noagendashow.net/index.md)
- **Episode:** 21
- **Published:** 2008-03-15
- **Length:** 1h 9m
- **Topics:** Spitzer scandal, Auction rates, Microsoft blacklist, Shell GTL, iPhone unlocking, [SXSW](https://search.noagendashow.net/topic/sxsw.md), [Enron](https://search.noagendashow.net/topic/enron.md)
- **Web page:** https://search.noagendashow.net/episode/21-sooty-emissions

## About this episode

Adam Curry and John C. Dvorak analyze the fallout of New York Governor Eliot Spitzer's resignation following a prostitution scandal, suggesting the downfall was orchestrated by Wall Street enemies. As Attorney General, Spitzer aggressively targeted the New York Stock Exchange and major insurance firms, creating a motive for political retaliation. The hosts contrast this public scandal with the systemic failures of the auction rate securities market and the Federal Reserve's $200 billion intervention.

Financial instability looms as Silicon Valley startups face a liquidity crisis after being directed into failing auction rate securities by venture-backed advisors. John C. Dvorak compares the current banking culture to the 2001 California energy crisis, characterizing those rolling blackouts as a manufactured scam by Enron. Meanwhile, tech giants like Google and Yahoo are reportedly fleeing the United Kingdom for Switzerland to avoid new tax regulations on non-domiciled residents. In the consumer market, European users are exploiting the weak dollar by purchasing iPhones in the United States and unlocking them for use on local networks in the Netherlands and beyond.

John C. Dvorak reveals his inclusion on a Microsoft internal blacklist discovered during the Combs v. Microsoft litigation, a status he earned by exposing Bill Gates' private journalist retreats. The hosts also critique Sarah Lacy's controversial South by Southwest interview with Mark Zuckerberg and the sentimental rebranding of the Skype website under eBay's creative direction. Adam Curry and John C. Dvorak conclude with a look at Shell Oil's Gas-to-Liquid propaganda and the industrial necessity of gold as prices surpass $1,000 an ounce.

## Chapters

Each chapter's transcript is at its own link. The whole transcript is at https://search.noagendashow.net/episode/21-sooty-emissions/transcript.md.

### 1. Adam Curry and John C. Dvorak, Computer Failures and Weather (0:01–2:25)

Adam Curry and John C. Dvorak open the program from Surrey, UK, and Northern California respectively. Dvorak describes a catastrophic hard drive failure on his primary computer and his subsequent struggle to find Windows Vista installation disks. The hosts compare the reliability of Windows XP and Mac systems following Dvorak's recent rant on the Tech 5 podcast.

Keywords: [adam curry](https://search.noagendashow.net/topic/adam-curry.md), [john c. dvorak](https://search.noagendashow.net/topic/john-c-dvorak.md), [surrey](https://search.noagendashow.net/topic/surrey.md), [northern california](https://search.noagendashow.net/topic/northern-california.md), [windows vista](https://search.noagendashow.net/topic/windows-vista.md), [computer crash](https://search.noagendashow.net/topic/computer-crash.md), [tech 5](https://search.noagendashow.net/topic/tech-5.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/1.md)

### 2. iPhone Unlocking Trends, European Grey Market and Currency Exchange (2:26–7:00)

Adam Curry reports a high prevalence of unlocked iPhones in the Netherlands despite the lack of an official carrier deal. European users are reportedly purchasing iPhones in the United States to take advantage of the weak dollar and unlocking them for use on local networks. The discussion covers European consumer awareness regarding SIM locking and the impact of the Euro reaching $1.56.

Keywords: [iphone](https://search.noagendashow.net/topic/iphone.md), [at&t](https://search.noagendashow.net/topic/at-t.md), [netherlands](https://search.noagendashow.net/topic/netherlands.md), [sim card](https://search.noagendashow.net/topic/sim-card.md), unlocking, [euro](https://search.noagendashow.net/topic/euro.md), [exchange rate](https://search.noagendashow.net/topic/exchange-rate.md), [nokia](https://search.noagendashow.net/topic/nokia.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/2.md)

### 3. Shell Oil Propaganda, GTL Fuel and Interactive Satellite Channels (7:01–16:10)

John C. Dvorak discovers a short film titled "Clearing the Air" produced by Shell Oil on an experimental Dish Network channel. The film promotes Gas-to-Liquid (GTL) technology as a way to reduce soot and emissions, though the hosts criticize the narrative's technical inconsistencies regarding diesel versus gasoline. The project is identified as a form of corporate propaganda being distributed via satellite and TiVo video-on-demand.

Keywords: [shell oil](https://search.noagendashow.net/topic/shell-oil.md), [dish network](https://search.noagendashow.net/topic/dish-network.md), gas to liquid, [qatar](https://search.noagendashow.net/topic/qatar.md), [propaganda](https://search.noagendashow.net/topic/propaganda.md), clearing the air, delft, [emissions](https://search.noagendashow.net/topic/emissions.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/3.md)

### 4. Skype Website Redesign, eBay Creative Direction (16:10–17:55)

While attempting to fix audio drivers on a laptop, Dvorak critiques the new visual direction of the Skype website following its acquisition by eBay. He expresses frustration with the use of sentimental stock photography, such as a grandfather bottle-feeding a baby, which he finds irrelevant to the software's utility.

Keywords: [skype](https://search.noagendashow.net/topic/skype.md), [ebay](https://search.noagendashow.net/topic/ebay.md), [website design](https://search.noagendashow.net/topic/website-design.md), [marketing](https://search.noagendashow.net/topic/marketing.md), [branding](https://search.noagendashow.net/topic/branding.md), [user interface](https://search.noagendashow.net/topic/user-interface.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/4.md)

### 5. Auction Rate Securities Market, Silicon Valley Venture Capital Risks (17:56–20:54)

Financial advisors in Silicon Valley reportedly directed 20% of venture-backed startups to invest spare cash in the auction rate securities market, which is now experiencing widespread failures. The hosts discuss the lack of liquidity for these companies and criticize the Federal Reserve's $200 billion intervention as a de facto tax on citizens through currency devaluation.

Keywords: auction rate securities, [venture capital](https://search.noagendashow.net/topic/venture-capital.md), [silicon valley](https://search.noagendashow.net/topic/silicon-valley.md), [techcrunch](https://search.noagendashow.net/topic/techcrunch.md), [liquidity](https://search.noagendashow.net/topic/liquidity.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), [ben bernanke](https://search.noagendashow.net/topic/ben-bernanke.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/5.md)

### 6. Banking Industry Culture, Enron and California Energy Crisis (20:55–25:12)

The discussion shifts to the perceived lack of ethics and intelligence among high-level bankers and traders involved in structured deals and derivatives. Dvorak compares the current financial instability to the 2001 California energy crisis, characterizing the rolling blackouts as a manufactured scam by Enron that was ignored by Governor Gray Davis and the media.

Keywords: [bankers trust](https://search.noagendashow.net/topic/bankers-trust.md), [derivatives](https://search.noagendashow.net/topic/derivatives.md), [enron](https://search.noagendashow.net/topic/enron.md), [gray davis](https://search.noagendashow.net/topic/gray-davis.md), [rolling blackouts](https://search.noagendashow.net/topic/rolling-blackouts.md), [energy market](https://search.noagendashow.net/topic/energy-market.md), [deregulation](https://search.noagendashow.net/topic/deregulation.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/6.md)

### 7. Eliot Spitzer Prostitution Scandal, Wall Street Antagonism (25:14–30:39)

New York Governor Eliot Spitzer's resignation following his involvement in a prostitution ring is analyzed as a potential setup by political and financial enemies. As Attorney General, Spitzer aggressively pursued cases against investment banks, the New York Stock Exchange, and insurance companies. The hosts discuss the public's fascination with the downfall of "do-gooder" authority figures.

Keywords: [eliot spitzer](https://search.noagendashow.net/topic/eliot-spitzer.md), [attorney general](https://search.noagendashow.net/topic/attorney-general.md), [prostitution](https://search.noagendashow.net/topic/prostitution.md), [payola](https://search.noagendashow.net/topic/payola.md), [securities fraud](https://search.noagendashow.net/topic/securities-fraud.md), white-collar crime, [new york](https://search.noagendashow.net/topic/new-york.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/7.md)

### 8. Public Broadcasting Finance, Political Influence and Affiliates (30:39–33:44)

The hosts examine the funding models of public broadcasting, noting that government grants often make up a small percentage of total revenue despite receiving the most media attention. They discuss the shift in power from central networks back to local affiliates and the political maneuvering within the Corporation for Public Broadcasting.

Keywords: [pbs](https://search.noagendashow.net/topic/pbs.md), [corporation for public broadcasting](https://search.noagendashow.net/topic/corporation-for-public-broadcasting.md), [bush administration](https://search.noagendashow.net/topic/bush-administration.md), radio affiliates, [funding](https://search.noagendashow.net/topic/funding.md), [grants](https://search.noagendashow.net/topic/grants.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/8.md)

### 9. Radio Industry Management, Program Directors and Professionalism (33:46–37:13)

Reflecting on their experiences in traditional media, the hosts critique the intelligence and ego of radio station managers and program directors. They cite an anecdote involving sports talk host Jim Rome and a Baltimore affiliate to illustrate the friction between talent and management. Dvorak contrasts the "jive-talking" commercial radio managers with the self-important attitudes found in public radio.

Keywords: [jim rome](https://search.noagendashow.net/topic/jim-rome.md), radio management, program director, [syndication](https://search.noagendashow.net/topic/syndication.md), [public radio](https://search.noagendashow.net/topic/public-radio.md), [broadcasting](https://search.noagendashow.net/topic/broadcasting.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/9.md)

### 10. No Agenda Monetization, Potential Celebrity Guests and Steve Jobs (37:13–42:57)

Adam Curry and John C. Dvorak discuss strategies for growing the show's audience to 100,000 listeners and implementing a donation or grant-based funding model. They brainstorm potential guests, including George Clooney and Steve Ballmer, while Dvorak explains why he has been "blackballed" by Steve Jobs for over 20 years following a critical column in the 1980s.

Keywords: [monetization](https://search.noagendashow.net/topic/monetization.md), [paypal](https://search.noagendashow.net/topic/paypal.md), [tom cruise](https://search.noagendashow.net/topic/tom-cruise.md), [george clooney](https://search.noagendashow.net/topic/george-clooney.md), [steve jobs](https://search.noagendashow.net/topic/steve-jobs.md), [steve ballmer](https://search.noagendashow.net/topic/steve-ballmer.md), [podcasting](https://search.noagendashow.net/topic/podcasting.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/10.md)

### 11. Microsoft Internal Blacklist, Combs v. Microsoft Discovery (43:00–48:51)

Dvorak reveals his inclusion on an internal Microsoft "do not inform" list discovered during the Combs v. Microsoft antitrust litigation. The list includes various tech figures and companies that were denied early access to software betas. Dvorak attributes his status to "blowing the lid off" private retreats Bill Gates held for select journalists at his Hood Canal estate.

Keywords: [microsoft](https://search.noagendashow.net/topic/microsoft.md), [discovery](https://search.noagendashow.net/topic/discovery.md), [antitrust](https://search.noagendashow.net/topic/antitrust.md), [bill gates](https://search.noagendashow.net/topic/bill-gates.md), [john c. dvorak](https://search.noagendashow.net/topic/john-c-dvorak.md), [mark perkel](https://search.noagendashow.net/topic/mark-perkel.md), hood canal

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/11.md)

### 12. Sarah Lacy and Mark Zuckerberg, South by Southwest Interview (48:52–52:06)

The hosts discuss the controversial South by Southwest (SXSW) interview between journalist Sarah Lacy and Facebook founder Mark Zuckerberg. They comment on the negative audience reaction to Lacy's interviewing style and the general atmosphere of the Austin-based festival, which Dvorak dismisses as a "party scene" for people who live near each other in the Bay Area.

Keywords: [sarah lacy](https://search.noagendashow.net/topic/sarah-lacy.md), [mark zuckerberg](https://search.noagendashow.net/topic/mark-zuckerberg.md), [facebook](https://search.noagendashow.net/topic/facebook.md), [south by southwest](https://search.noagendashow.net/topic/south-by-southwest.md), [austin](https://search.noagendashow.net/topic/austin.md), [cranky geeks](https://search.noagendashow.net/topic/cranky-geeks.md), [tech journalism](https://search.noagendashow.net/topic/tech-journalism.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/12.md)

### 13. Portable Media Expo, Podcast Monetization and Monsanto (52:08–57:37)

Adam Curry encourages Dvorak to deliver a keynote at the upcoming Portable Media Expo in Las Vegas to discuss new media monetization. The conversation pivots to the difficulty of obtaining grants and a critique of large agricultural corporations like Monsanto and Archer Daniels Midland, specifically regarding their legal tactics against journalists.

Keywords: portable media expo, [las vegas](https://search.noagendashow.net/topic/las-vegas.md), keynote, [monetization](https://search.noagendashow.net/topic/monetization.md), [monsanto](https://search.noagendashow.net/topic/monsanto.md), [bst](https://search.noagendashow.net/topic/bst.md), agricultural industry

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/13.md)

### 14. United Kingdom Tax Law, Non-Domiciled Status and Corporate Flight (57:37–1:01:05)

Adam Curry provides an update on new UK tax regulations effective April 8th regarding non-domiciled residents. The rules impose a 30,000-pound annual fee for certain tax exemptions and introduce new levies on capital gains brought into the country. Curry notes that major tech firms like Yahoo and Google are reportedly moving operations to Switzerland in response to these changes.

Keywords: uk tax, non-domiciled, [pricewaterhousecoopers](https://search.noagendashow.net/topic/pricewaterhousecoopers.md), [capital gains](https://search.noagendashow.net/topic/capital-gains.md), [yahoo](https://search.noagendashow.net/topic/yahoo.md), [google](https://search.noagendashow.net/topic/google.md), [geneva](https://search.noagendashow.net/topic/geneva.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/14.md)

### 15. Oil Prices, Gold Records and Industrial Diamond Uses (1:01:06–1:05:13)

With crude oil reaching $110 a barrel and gold surpassing $1,000 an ounce, the hosts discuss the economic impact of rising commodity prices. Dvorak explains the industrial necessity of gold in semiconductors and the widespread use of industrial-grade diamonds for cutting and grinding in manufacturing, challenging the notion that these materials are only valuable for jewelry.

Keywords: [oil prices](https://search.noagendashow.net/topic/oil-prices.md), [crude oil](https://search.noagendashow.net/topic/crude-oil.md), [gold](https://search.noagendashow.net/topic/gold.md), [diamonds](https://search.noagendashow.net/topic/diamonds.md), [semiconductors](https://search.noagendashow.net/topic/semiconductors.md), [jewelry](https://search.noagendashow.net/topic/jewelry.md), [manufacturing](https://search.noagendashow.net/topic/manufacturing.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/15.md)

### 16. Silicon Valley Social Status, Wardrobe Choices and Outro (1:05:14–1:09:16)

The hosts conclude with observations on social status symbols in Silicon Valley, such as large diamond rings and Rolex watches. Dvorak shares a story about a yellow striped shirt he wore to annoy a ZDTV executive, which he reprised for a recent Cranky Geeks appearance. The episode ends with a reminder of the show's "No Agenda" mission and a sign-off from both hosts.

Keywords: [melinda gates](https://search.noagendashow.net/topic/melinda-gates.md), [rolex](https://search.noagendashow.net/topic/rolex.md), [silicon valley](https://search.noagendashow.net/topic/silicon-valley.md), [zdtv](https://search.noagendashow.net/topic/zdtv.md), yellow shirt, harry fuller, [podcast outro](https://search.noagendashow.net/topic/podcast-outro.md)

[Chapter transcript](https://search.noagendashow.net/episode/21-sooty-emissions/chapter/16.md)

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