The Fed surprises everyone
The Federal Reserve Board surprised everyone Wednesday by saying it would actually continue its unprecedented stimulus efforts despite the expectations of everyone. And investors cheered the news, sending the stock market to record highs. The New York Times had this story, excerpted below: All summer, Federal Reserve officials said flattering things about the economy’s performance: how […]
Markets calm before Federal Reserve
In the biggest non-story of the month is that the stock markets aren’t moving. Normally this would warrant no coverage at all expect for the fact that it’s before the Federal Reserve Board is expected to announce the end of its stimulus actions. The Wall Street Journal had this story: If investors are concerned about the […]
The business of media
The New York Times columnist David Carr’s piece Sunday was about the business of media, specifically the increasing blur between journalism and paid content across many major news outlets. What is the most disconcerting is an allegation by Joe McCambley, founder of digital design firm The Wonderfactory, that some public relations firms are being allowed […]
Summers withdraws from Fed race
In an unexpected move, Larry Summers has decided not to try to succeed Ben Bernanke as the head of the Federal Reserve Board despite being the presumed front-runner for the job. Here’s the story from the New York Times: Lawrence H. Summers, one of President Obama’s closest economic confidants and a former Treasury secretary, has withdrawn […]
Five years later: Time versus Businessweek
It’s been five years since the crisis, and the two leading weekly magazines (or the only two left) have vastly different takes on Wall Street and the coverage. Let’s take a look, starting with the covers. Time’s cover was of the Wall Street bull on a white background wearing a party hat complete with confetti. […]
Verizon holds largest bond sale ever
To fund its gigantic $130 billion purchase of Vodafone’s stake, Verizon Communications held the largest bond sale in history, raising $49 billion from the markets. The Wall Street Journal story called the sale a “frenzy” of demand: Verizon Communications Inc.’s $49 billion bond offering sparked a frenzy across Wall Street on Wednesday as investors clamored to […]
Five years after the financial crisis
Many business news outlets have been running series this week about the state of the financial system five years after the crisis. It’s been interesting to see what topics are being covered, indicating where the financial system may still have problems. The Wall Street Journal series, running under the headline “Crisis Plus 5 Years,” included […]
Will housing slow the economic recovery?
Housing is fueling the slight surge in the economy, but maybe not for long. The Wall Street Journal reported that demand is slowing as interest rates continue to creep up, potentially harming the upswing in housing sales. Here’s the Wall Street Journal story: A rise in interest rates is slamming homeowners’ demand for mortgages, prompting […]
Neiman Marcus changing hands
In another sign the retail industry is heating up or that private equity shops need to show returns, Neiman Marcus is going to change hands again. Here’s the New York Times story: The owners of Neiman Marcus are in discussions to sell the luxury retailer to a group led by Ares Management and a Canadian […]
Summers faces opposition for Fed chair
Lawrence Summers, considered by many to be the front-runner to be the new Federal Reserve chairman, isn’t likely to have an easy nomination process if he’s President Obama’s pick. But Obama knows that his confirmation may be difficult, according to the New York Times story. As President Obama turned to second-term job openings soon after […]
