Bring It On!

Bring it On!
March 29th, 2008

The Man Who Made His Accountant Cry

Larry Ellison Loves Himself

What has 23 acres, an 8000 sq. ft. house with two wings, a guest home, three cottages, a gym, a 5-acre lake, two waterfalls, two bridges, and hundreds of mature cherry and maple trees planted among 1000 redwoods pines and oaks?

The $200 million estate of Larry Ellison, the $25 billion, 12th-ranking member on the Fortune 500 list of world’s richest asswipes. The one that had his aptly-named Octopus Holding company buy it from him in 1995 for a deflated $12 million. The one that just “earned” him a $3 million property tax cut based on a professed 60% decline in the home’s value vs. the 6.3% for an average home. An average home - the ones not being foreclosed on anyway - that is being over-assesse d because the neighbors can’t pay their mortgages down at Loan Shark Larry’s Savings and Loan.

And the rationale for the cut? It’s even richer than Larry (and apparently God) himself.

According to his tax appeal, the behemoth bungalow in his private redwood grove suffers from “significant functional obsolescence ” because there apparently isn’t much of a market for $200 million pimp cribs. He also says the 16th century Japanese architecture  , “over improvements ”, and “excessive landscaping” are too costly for mere millionaire to maintains, so gee he’d appreciate it if just give him a break willya?

The Woodside White Elephant
In other words, Larry builds a Japanese-bre d white elephant that no one can afford to buy, maintain, or want to live in so the taxpayers now owe him $3 million for his foresight in building such an opulent slum. Or as a consumer watchdog group puts into perspective, “Three million dollars to Larry Ellison is the equivalent of $300 to the average home owner.” Oh, and just so you know we aren’t picking on poor beleaguered Larry, Bill Gates did the same thing several years ago with his Redmond, WA-based monument to ostentation, avarice, and greed.

It makes you really admire modest billionaires like Warren Buffett, who actually pay taxes.

But Woodside, CA town manager Susan George says the deal is on the up and up. “It shouldn’t make any difference how much money he has if the process is fair. We’ll miss the money. We always have good things to do with it.”

True enough, but that’s relatively easy for George to say. Cash-flush Woodside is usually the top or near-top median income ZIP code in the country. The rest of relatively affluent - but still within human understandin gly affluent - San Mateo County isn’t so lucky. They have people who can’t afford to claim their E. Palo Alto, cockroach-in fested apartment is worthless because it’s “significant ly functionally obsolete” with a leaking roof and broken plumbing. BTW, East Palo Alto is the other Palo Alto, the one that’s not home to multiple multi-millio naires and Stanford University. The folks in E. Palo Alto suffer from a crippling crime rate and crumbling housing over there on the wrong side of the freeway - the side that isn’t protected by sound fencing like the gracious folks across the road.

Rich Shouldn’t Matter
In principle I agree with the town manager. It shouldn’t matter how much money you have. So I suppose Larry wouldn’t mind if his revaluation was the going 6.3% - just to be fair and all. I’m sure he won’t mind, because he could just recoup the money by delaying the painting of his yacht, the world’s largest. Or perhaps he could stop routinely violating nighttime noise restrictions at San Jose Internationa l for landing after hours in his private Gulfstream jet. He was exempted from the noise restrictions too.

Larry is well-known as the infant-terri ble of Silicon Valley. He runs his company Oracle based on the principles of Sun Tzu’s The Art of War.

He regularly buys out any competitors, frequently in hostile takeovers - and grinds their successful products under his heel in order to buy new sails for his America’s Cup yacht or gas for his aerobatic team. At each hostile takeover, employees lose jobs to feed Larry’s Giant Maw of GreedTM. And it’s a hungry maw indeed. So hungry, that Larry’s accountants warned him several years ago to cut his fantastic spending lest he bankrupt himself.

It’s Tough Out There for a Billionaire Pimp
I guess $12 billion doesn’t go as far as it used to.

I’m a firm believer in capitalism, although I recognize its limitations if left totally unrestricted . I have nothing against people earning money. In fact, I don’t care if a person makes billions - more power to them. But if you make billions you also inherit some responsibili ties.

One of those responsibili ties is paying your taxes like any other good citizen of modest means without a buttload of full-time shysters to find boondoggle tax breaks. It also comes with a moral responsibili ty to not deprive others to feed your own hubris and greed. Don’t take money away from schools and hospitals simply because you can. It’s not a frickin’ game to see who dies with the most toys. Don’t lay off employees to get that quarterly bonus that’s just about equal to the money you “saved” by laying them off. I don’t require you to find the light and abandon your Marley-like stinginess like Bill Gates turned away from his once well-known anti-philant hropic ways. Hell, you can even illegally fly your jet late at night provided you pay buy soundproofin g for the more modest home owners who will go to work exhausted tomorrow from a lost night of sleep courtesy of your (literally) money-burnin g flying hard on. In short, all I ask you to do is act like a normal human being instead of a shit stain in the crotch of humanity’s Jockey shorts.

In short Larry, stop being such an asshole.

Cross posted at The Omnipotent Poobah Speaks!


Tags:  , , , , , , , , asshole, billionaire, , estate, greed, larry ellison, , oracle,

Leave a Reply

Fish.Travel