Daily Archives: January 6, 2016

What companies mean when they say money is offshore

When you hear of companies like Apple having their money offshore, you might imagine piles of gold bullion or paper bills sitting in a physical bank somewhere in Switzerland or Ireland. More likely that money is residing in one of the big banks head-quartered somewhere in the United States. (For that matter, it is likely residing as so many numbers in a computer run by one of these banks and not piles of paper or gold.)

The Times and Slate explain it here: For U.S. Companies, Money ‘Offshore’ Means Manhattan – The New York Times and Offshore accounts not actually offshore.

Advertisements

Finally! The cappuccino scandal revealed by  The New York Times. (I am not joking)


For some time, I have been complaining that cappuccinos have evolved into something I call “latte-ccinos”, which is a drink that is somewhere between a latte and a cappuccino. Good to see that the New York Times has a piece on it highlighting the sad state of North American coffee and in particular the sham cappuccinos now commonly served.

But what is a true cappuccino? As the Times points out, there is a debate about what it is:

There was a time when cappuccino was easy to identify. It was a shot of espresso with steamed milk and a meringue-like milk foam on top. … “In the U.S., cappuccino are small, medium and large, and that actually doesn’t exist,” the food and coffee writer Oliver Strand said. “Cappuccino is basically a four-ounce drink.” … Others cling to old-school notions of what makes a cappuccino, with the layering of ingredients as the main thing. “The goal is to serve three distinct layers: caffè, hot milk and frothy (not dense) foam,” the chef and writer Mario Batali wrote in an email. “But to drink it Italian style, it will be stirred so that the three stratum come together as one.”

I agree with Strand: a cappuccino should be a small drink and the espresso, milk and foam proportional.. If you want a bigger drink, get a latte. And if you want a true cappuccino, find a good Italian establishment — in Toronto, Grano’s makes a superb one — and get your fix there.

For more on this, see: Is That Cappuccino You’re Drinking Really a Cappuccino? – The New York Times. The photo above is a link to that article.