(Community Matters) I take no pleasure (can’t even laugh) in watching Rush, Gingrich, Tancredo and their tribe rant against Sotomayor as a racist, aside from the wedge this will further institutionalize against the GOP. While the majority of Americans realize we are richer for our diversity - which the best in corporate America have realized for years - the hate team is desperate to frame the Sotomayor debate in them/us terms. There is no authentic debate about whether or not the Supreme Court would serve our country better with diversity on the bench.

Gotta say, I’m less and less impressed with Gibbs’ effectiveness. Either he’s being held back, he’s incapable of metaphorically wrestling away the microphone, or others in the White House are too controlling & unrealistic of BHO’s coverage.

(Community Matters) Reading Frank Rich’s column this morning, occurs to me that President Obama must be as forceful in his legislative advocacy & articulation of the real options as the Republicans are in their opposition. Democratic Senate opposition to closing Guantanamo appears to signal a still weakened legislature against the fearmongering rhetoric. Rich suggests this weakness among national journalists as well.

(Community Matters)
Steven and I are at Jane Hickie’s & Michele Dunkerley’s ranch in Stephenville. Nice gigs. We’ll relax. Posted from my blackberry.

(Community Matters) Ever since a conversation with an enlightened friend, I’ve been feeling a wee bit silly having asked Rs to apologize for GWB. To any and all I offended, my apologies. We’re all in this together.

(Community Matters) Quite evening last night – totally flaked on the Al Franken fundraiser at Anne Elizabeth Wynn’s home, so sorry. Just needed a nonevent night. Definitely sending a contribution to help with litigation expenses.

Lynn Meredith joined us at Julio’s. Very casual, just the three of us, just catching up. Tommy in Montana. Kate’s wedding being planned. New condo under construction. Lynn & Abby preparing tonight’s meal for Ronald McDonald House. Lynn’s schedule makes me feel guilty for complaining about being too busy.

Evan in town from Houston with Jay Farrell also doing Julio. Mark Salmanson pulling in as we’re pulling out, meeting friends for gelato at Dolce Vita.

Yesterday’s lunch – what a treat. Ninety minutes with Dave Shaw; I’m not sure if we’ve ever just met alone. Dave established Russell/Shaw four years ago (four years ago as of this coming Monday – congratulations team!). They build brands that connect with audiences, and they are respected public relations specialists. HEB, Pervassive Software, Seton Healthcare Network, Ballet Austin, Southwest Airlines, the Biscuit Brothers, SiteStuff, Texas Gas Service, Texas Book Festival – just some of their customers. Dave’s a board member of Leadership Austin, the Austin Public Library Foundation and Greenlights (where he becomes board president soon). And, he’s Jewish; I never realized this. Okay, now he has to help us with ADL too!

(Community Matters) Despite their promises they still haven’t fixed all the transactions. I am told the computer glitch double charged all credit cards nationally over the Memorial Day weekend. Mine was actually triple charged $100 (reloading a black card which saves 10% each transaction and pays) and my original charge was on Thursday. I wasn’t so put out since the first double charge was corrected even prior to my call and they promised to fix all within 48 hours. Now I’m getting irritated that they still owe me $100. I’m wondering how many millions they double charged around the country. How many customers haven’t and won’t notice? Who gets the interest?

(Community Matters) District 10 Congressman Michael McCaul evidently panicking – making up false charges against Jack McDonald and bringing Rush Limbaugh into district for to headline a fundraiser. more here – Lone Star Project

photo sent to Gardner Selby by one of his readers

(Community Matters) Best wishes to Janet Harmon & Kent Mayes who are very recently engaged to be married!

(Community Matters) Last night was the 23rd annual Ernst & Young Entrepreneur of the Year Award Gala. Embarrassed I didn’t even run into my dear friends Amy Warmke & Gina Budd who organize the event.

Each year successful, innovative and disruptive entrepreneurs are nominated for the prestigious recognition. This year, three business entrepreneurs and one social entrepreneur were selected for the award. After being vetted by E&Y’s assurance staff, nominees are further scrutinized, discussed and debated to determine finalists. The winners were: Brett Hurt (founder & CEO, BazaarVoice), Craig Malloy (CEO & Founder, Life Size Communications), Douglas Harrison (CEO & Founder, the Scotter Store) and Melvin White (CEO & Founder, Digital Workforce).

tons and tons of friends at the event, including these in photos

John Peck (Affiniscape), Roberto Fiebig & Corey Blahuta (vcfo)

Corey a long time friend and huge Entrepreneurs Foundation supporter. Virtual CFO a favorite company. John Peck – just getting to know, Affiniscape an interesting company. Coincidently just met with John this week.

Jeff Browning & Penny Wilson

Jeff the Austin Ventures Recruiting Partner and Penny an executive at 360Training – close friends who I don’t see often enough.

Carla & Jack McDonald

Everyone knows these two, both dear friends – Jack a previous EOY winner, Perficient CEO & COB, an EOY judge and soon to be US Congressman (10th District). This week, saw the tipping point in his race – Republicans, in significant numbers, are crossing over with support. His appeal transcends parties – raw intellect, passion for the fundamentals & a track record. Carla is his secret weapon, a success public relations exec, mom and community volunteer.

(Community Matters) I love the gathering, just hate idea of putting on my tuxedo. Alas . . .

(Community Matters) Our dear friend Wyeth Wiedeman hosted Secretary Carnahan today for lunch at Headliners. Robin is running for the US Senate.

Kirk Rudy, Secr. Robin Carnahan, Oscar Zaffarini, Yeal Ouzillou

Robin is a member of one of Missouri’s most esteemed political families. Her grandfather was a Congressman and an Ambassador. Her father, Mel Carnahan served as governor and won a seat for US Senate posthumously, after a plane crash during the election. Her mother was appointed to the Senate seat. Her brother is a US Congressman.

Secretary Carnahan spoke of the political wave that elected a progressive Democrat (Claire McCaskill) to replace John Ashcroft. And, she’d be a second progressive Democratic Senator is she replaces the retiring Senator Kit Bond.

Against the two current Republican also running, she’s polling +9pts over Roy Blundt and +12 pots over Sarah Steelman.

(Community Matters) The guys have started clearing out space to build our yard farm. We’re doing this in collaboration with Wheatsville Coop. We are installing the organic vegetable garden; Wheatsville will maintain it. We get to pick and eat freely; they’ll sell what’s harvested. Later this summer, you’ll be able to find AB Porter Yard Farm produce


We’re done rebuilding the retaining wall between us and Wheatsville. The stairs are in and the gate should be up in the next week as well.

There’s still two other structures (the pool house & the guest house) buffering us from the back gardens. It’ll be fun watching this experiment – hope it works for both of us.

(Community Matters) Kirk Rudy and I gathered in one of his conference rooms today for an NFC call with President Obama. Gov Kaine (DNC Chair) spoke just before the President, explaining DNC priorities 1) working for presidential success, 2) state party strength and 3) grassroots politics. Then, we hear an Air Force One operator interrupt, Reggie Love gets on the line asking us to hold, then President Obama.

Of course, it’s always a privilege to hear directly from the President. He spoke about restoring fairness, equity and stability to our economy, about standing strong for our ideas. Talked about his long list of legislative accomplishments, and of course, discussed the nomination of Justice Sotomayor.

Kirk on the phone with President Obama

Kirk and I were listening, nodding, and then as BHO wrapped up his comments, the President said “I believe Kirk Rudy from Austin has a question.” Kirk had indicated he wanted to ask a question, but previously, you simply queued up by pressing star 1, then the operator might pick you and introduce you. We were both so startled by the President calling Kirk out directly, we almost didn’t know what to do. Anyhow, it was a very funny moment, then we had to share the phone itself for BHO’s answer since neither of us were sure we wouldn’t hang up when trying to reengage the speaker.

I haven’t posted these photos from earlier this month but thought might find of interest.

with Valerie Jarrett

(Community Matters) My good friend Thom Singer is a professional speaker and published author. His topic is networking.

Friends who know me might think it would be silly for me to attend such a session. However, I know Thom well enough to know that there’s plenty more to think about. And of course, I also wanted to support his first gig since he’s gone full time. He’s been speaking & writing for years.

Many friends in Austin know his books: Some Assembly Required: How to Grow & Keep Your Business; The ABCs of Networking; Some Assembly: A Networking Guide for Women; Some Assembly Required: Linked-In; Some Assembly Required: Real Estate.

Thom spoke a lot about visibility, credibility and brand – about being known, respected and understood. There were over 65 people in attendance, and I did learn a lot – at least reminded about how one must deliberately put together the pieces. While he was talking, I thought about how, yeah, I have strong networks among CEOs and folks closer to my age. But, I’m getting stale, not getting out there enough with the younger crowd – 20 and 30 somethings. I’m gonna create a young entrepreneurs/CEO council somehow. Maybe in exchange for sponsoring some gatherings, they’ll let me hang out.

(Community Matters) Yesterday’s corporate lunch series sponsored by Comerica, Winstead & Bridgepoint was super. The panelists: Austin Venture’s Tom Ball, Blue Sage’s Jim McBride and Guggenheim Capital’s Eric Rothfus.

Speaking with a couple of the panelists plus several of the attendees as well as many other conversations during the last couple of weeks, appears our economic decline has bottomed or is near bottom, and I’m hearing cautious optimism – especially caution that there could be a second dip (not predicted but realization there could be).

Jim isn’t worried about inflation for the next several years – he was much more concerned about deflation and seems to believe its risk has passed. Notes the greatest challenge today is the “velocity of change” in factors impacting margins, demand and revenues. I liked his lemons into lemonade perspective of these times as a cleansing time and his reminding of the quote, “when you’re going through hell, keep going.”

Eric notes that many sophisticated angels are still investing. Tom seconded that observation. (at the same time, I know a few quite sophisticated angel investors whose allocation of risk/less liquid capital has been realigned by the market and who are therefore not further investing in startups).

Guggenheim’s $65mm fund is 2/3 allocated toward distressed technology buys; 1/3 for startups, especially in the space of semiconductors and software. In the distressed space, they are often looking to buy assets rather than businesses.

Austin Venture’s newest, $900mm fund is allocated 2/3 to growth equity and 1/3 to traditional venture capital, 2/3 of which is targeted for Texas/SW USA. In both groups, they are increasingly focused on investing in people. Tom notes his last three deals have each been seed rounds of less than $1mm.