With the election of Donald Trump as the next president, and the maintenance of control over the House and Senate, Republicans have the opportunity to repeal the Dodd-Frank law, which has given businesses headaches since implementation. The best part of the Dodd-Frank bill was a promise by the Federal Reserve and the government to end the practice of "too big to fail." That main goal has, as of now, gone unmet, as I wrote to you about here earlier this Autumn. But while the bill's main goal has gone unfulfilled, a host of burdensome regulations and requirements on business have been … [Read more...]
You’ll be Astonished by the Epic Number of Billionaires in China!
The BBC reports that China has surpassed the number of billionaires in America. The Middle Kingdom recorded a list of 594 of the ultra-wealthy citizens, to America's 535. BBC writes: The annual list is compiled by Shanghai publishers Hurun and often compared to the Forbes list in the US. The Hurun Report's rich list is one of the most closely-watched and accurate assessments of wealth in China. The annual report has been published for the past 18 years. Earlier this year, the publisher released a separate, global list, showing that the number of billionaires in China outnumbered those … [Read more...]
Alert: Buy Ratings to the Highest Bidder
This is a disturbing trend. Bloomberg BusinessWeek reports that some companies are now paying brokerage clients to cover them. This is similar to the credit rating agency model that has been criticized so often for the conflicted advice it produces, but this is worse, much worse. Here’s more from BusinessWeek (emphasis is mine) With brokers increasingly unable to subsidize research with indirect payments, France’s Natixis SA is pioneering a novel approach: charge clients for coverage, a model that has proved fraught with conflicts for debt-rating companies. Analysts Jean-Jacques Le Fur and … [Read more...]
The Future of the Car is Here: It is Electric
MIT Technology Review offers the exciting view from Paris. As the doors open at the Paris Motor Show, one thing is being made abundantly clear about the future of the automobile: it’s electric. It’s been widely reported that many automakers are starting to skip big car shows. Ford, Volvo, Rolls-Royce, Aston Martin, and Lamborghini are among the manufacturers who, Bloomberg claims, would rather skip the French spectacle and spread word of new cars on social media or at more exclusive events. But for those that are in Paris, it’s clearly tres chic to be showing off an electric … [Read more...]
Deutsche Bank: This is How a Death Spiral Starts
Monday we wrote about the sharp sell-off in Germany’s largest bank, Deutsche Bank. We posed the question, is one of the world’s largest banks in a death spiral? While the verdict may still be out, things aren’t looking good for Deutsche Bank. Yesterday, Bloomberg reported that a number of funds that clear derivatives trades with the bank withdrew their excess cash and positions. This is how a death spiral starts for a big bank. A few counterparties start walking away and then a few more do the same and then the loss of business pressures results, and then a few more banks walk away and if … [Read more...]
Rolling Stone’s Ad Pages Down 14%, Website Unique U.S Visitors Up 59%
The Wall Street Journal tells readers about the minority interest the group has sold to a Singapore-based social music company. Rolling Stone has struck a chord with a new investor. BandLab Technologies Ltd., a closely held Singapore-based social music company, has purchased a 49% stake in the storied music brand, including the magazine and its digital assets. Rolling Stone has struck a chord with a new investor. The move comes as many publishers are seeking to broaden their portfolios to become less dependent on print advertising revenue. Ad pages declined 14% at Rolling Stone between … [Read more...]
How to Secure your Financial Accounts from Cyber Criminals
Hacking and cybercrime have been on the rise. I’m sure I’m not telling you something you don’t already know, but what you might not know, is that a growing trend among cyber criminals is specific targeting of high-net-worth individuals. In these attacks, hackers will identify a target and develop a victim profile based on public and private information with the goal of stealing assets from financial accounts. How do you secure your financial accounts from cyber criminals? While there is no silver bullet solution to prevent every type of cyber-attack, there are many steps that can be taken … [Read more...]
Paris: The Seine in September
The Wizards Shaping America’s Technology Powerhouse
MIT Technology Review is among my favorite sources for keeping up on the cream of the crop of America’s young technology wizards. Here Signe Brewster introduces avid followers of TR to the wizardry of Natalya Brikner and how Natalya “became a rocket Scientist and CEO before 30.” As Natalya Brikner worked her way through a PhD at MIT’s Space Propulsion Laboratory, she assumed she’d go on to become a professor in the field. She grew up in a small town in northwest Oregon watching the stars and thinking about the aliens among them. Studying rocket propulsion represented a practical … [Read more...]
From Our Favorite Village in Vermont
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