My afternoon train reads:

• DoubleLine’s Gundlach shifts gears, now buys U.S. bonds (Reuters)
• Oil ends lower as China stirs up demand worries (MarketWatch)
Doug Kass: I’m Honored to Be Buffett’s ‘Credentialed Bear’ (MarketBeat) see also Kass Takes Buffett’s Challenge to Present Bearish Questions (Bloomberg)
• Corporate Profits Are Eating the Economy (The Atlantic)
• Freddie Mac’s Profits Obscure Housing-Boom Damage (The Daily Beast) see also Banks Find More Wrongful Foreclosures Among Military Members (DealBook)
• How Rich Are the Top 1 Percent of Billionaires? (Slate)
• 100 Facts About The Economy That Will Blow Your Mind (The Motley Fool)
• Is most research a waste? (Overcoming Bias)
• Earthquakes’ booms big enough to be detected from orbit (arstechnica)
• The 10 Happiest States In America (Business Insider) see also The 10 Most Miserable States In America (Business Insider)

What are you reading?

 

Income Shifting to Businesses

Source: NYT

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “10 Monday PM Reads”

  1. Chief Tomahawk says:

    Pretty cool about Doug Kass. Glad to see Buffett, who’s long had plenty of game, willing to take on an informed, contrary viewpoint. Here’s to hoping Buffett doesn’t limit his answers to “It’s all about The Fed, baby!”

  2. willid3 says:

    um,…maybe we now know why he isn’t in politics.

    as admits the real reason for high health care isn’t going to be addresses by politicians on both sides until they admits that is the the fee for service model is the root of the high costs

    http://www.politico.com/story/2013/03/to-contain-health-care-costs-eliminate-fee-for-service-88339.html?hp=r18

  3. 873450 says:

    Corporations Are Not People In Switzerland

    http://www.nytimes.com/2013/03/04/business/global/swiss-voters-tighten-countrys-limits-on-executive-pay.html?_r=0

    Swiss Voters Approve a Plan to Severely Limit Executive Compensation
    By Raphael Minder – Published: March 3, 2013

    “Swiss citizens voted [68 percent] Sunday to impose some of the world’s most severe restrictions on executive compensation, IGNORING A WARNING FROM THE BUSINESS LOBBY THAT SUCH CURBS WOULD UNDERMINE THE COUNTRY’S INVESTOR-FRIENDLY IMAGE.

    The vote gives SHAREHOLDERS OF COMPANIES LISTED IN SWITZERLAND A BINDING SAY ON THE OVERALL PAY PACKAGES FOR EXECUTIVES AND DIRECTORS. Pension funds holding shares in a company would be obligated to take part in votes on compensation packages.

    In addition, COMPANIES WOULD NO LONGER BE ALLOWED TO GIVE BONUSES TO EXECUTIVES JOINING OR LEAVING THE BUSINESS, OR TO EXECUTIVES WHEN THEIR COMPANY WAS TAKEN OVER. VIOLATIONS COULD RESULT IN FINES EQUAL TO UP TO SIX YEARS OF SALARY AND A PRISON SENTENCE OF UP TO THREE YEARS…

    …[shameful] Nonbinding shareholder votes on executive pay have also been introduced in countries like the United States and Germany in response to Occupy Wall Street and other movements that have attacked the corporate excesses and abuses that fueled the world financial crisis…

    …case was unexpectedly bolstered last month when Novartis, the pharmaceutical company, agreed to a $78 million severance payout for its departing chairman, Daniel Vasella. That set off a political storm and intense criticism from some investors, forcing Novartis to scrap the payout and prompting Mr. Vasella to tell shareholders that it had been a mistake.”

    Rationale defeating corporatist claims businesses will flee Switzerland?
    “Investors put their money where they have the most to say, and that will clearly then be Switzerland.”

    Damn those socialists voting down enormous transfers of shareholder equity to 1%.

  4. Petey Wheatstraw says:

    From the Atlantic link:

    http://cdn.theatlantic.com/static/mt/assets/business/Screen%20Shot%202013-03-04%20at%2012.35.48%20PM.png

    One of these things is not like the others.

    I have a sinking feeling that we will pay, dearly, for this rapid recovery of corporate profits.

  5. Mike in Nola says:

    I don’t think the bit from 60 Minutes got posted here. I suspect there was a connection between it and the Chinese market massacre today. The shares of the company run by the man who gave the overly honest interview lost 10% today:

    http://www.businessinsider.com/60-minutes-chinas-ghost-cities-2013-3?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29

  6. RW says:

    Richard Kogan on How Sequestration Is Likely to Play Out (video courtesy Jared Bernstein

    Sequestration began doing damage last October (as administrators anticipated continuing congressional misfeasance) and will continue to play out serially, program by program over time, accumulating further damage as it goes.

    Some damage will be severe and immediate — e.g., beneficiaries of the unemployment insurance program face an 11% cut in their benefits as of yesterday — while other damage will be more drawn out or even ‘invisible;’ e.g., fewer NIH grants in May mean less medical research going forward.

    Whether the markets will figure this out and when or even if there will be a tipping point is a matter of some personal interest but frankly that’s small potatoes …this is no way to run a country.

  7. Mike in Nola says:

    RW:

    what will the big biomedical and pharmaceutical companies do if we stop financing their research? :)

  8. VennData says:

    Pirate Bay Hosting from North Korea

    https://thepiratebay.se/blog/229

    I wonder if I could store my personal information with North Korean Cloud company? Clouds…that one looks like a bunny…. that one looks like a horsey… that one looks like Dennis Rodman in a ball gown.

    Anyone who wants to host a hardcore porn server with me in Pyongyang email me at venndataxxx@ritholtz.com. I’ve got tons of content.

  9. GeorgeBurnsWasRight says:

    I think we need several studies to determine whether or not most research is a waste.

    Also, I don’t understand how the wrongful military foreclosures could have happened. Weren’t the banks using the finest minimum-wage robosigners available?