My afternoon train reads:

Zweig: No Such Thing as a Sure Thing (Moneybeat)
• How LinkedIn has changed the way you might get your next job (Capital Business)
• Treasuries Proving Safer Than AAA Two Years After S&P Cut (Bloomberg)
• Prof Delong wants to know why Paul Volcker “won’t quite say what he means…” (Semi-Daily Journal)
• How The ‘World’s Dumbest Idea’ Killed The US Economic Recovery (Forbes)
• GDP Revisions Make Recovery Look Better, Recession Not as Bad (Real Time Economics)
• Government Insider Probe Caught in Knot (WSJ)
• John Fugelsang: ‘Legal cannabis is the conservative point of view’ (Current) see also A Republican Case for Climate Action (NYT)
• The FBI’s largest ever blow to child porn and the Deep Web, and its possible ripple effects (Extreme Tech)
• The Art of Worldly Wisdom (Farnam Street)

What are you reading?

 

Job Creation Under President Obama

Jobs Under Obama 080213

Source: Bespoke

Category: Financial Press

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11 Responses to “10 Monday PM Reads”

  1. mpetrosian says:

    More evidence that Barry likes to burn one now and then

  2. farmera1 says:

    How The ‘World’s Dumbest Idea’ Killed The US Economic Recovery

    http://www.forbes.com/sites/stevedenning/2013/07/29/how-the-worlds-dumbest-idea-killed-the-us-economic-recovery/

    “Readers of this column know that short-term shareholder value, which is still pervasive in large organizations, has a lot of accomplishments to its credit. It has led to “bad profits” that have destroyed customer loyalty. It is responsible for massive offshoring of manufacturing, thereby destroying major segments of the US economy. And it has even undermined US capacity to compete in international markets.”

    Wow, how impressive, Forbes is on the band wagon about the destructive nature of managing short term profits (and in my perspective this just happens to maximize the bonuses upper management to pay themselves). I was always amazed that when I rubbed elbows with upper management they flatly stated that their primary job was to manage stock prices. Now that is truly a loosing long term strategy (3 years out and longer). IMHO any fool can make the numbers look good for a few years, it takes truly sound, creative managers to make the business prosper long term.

    Who do we thank for this destructive idea, why no other than Friedman.

    http://www.forbes.com/sites/stevedenning/2013/06/26/the-origin-of-the-worlds-dumbest-idea-milton-friedman/

  3. VennData says:

    Bezos nabs Post.

    ​”…Nonetheless, he added: “I always thought this would be a newspaper that would be able to withstand the digital tide because of the name and the prestige. It is, next to the New York Times, the most prestigious paper in the country…”​

    What about the WSJ? and the NY Post? And TheBlaze?

    http://www.bbc.co.uk/news/business-23581085

    ​Another left-wing tech titan reshaping America!​

    So when right winger Sam Zell bought the Tribune he used the Employee ESOP and leveraged up to the teeth so much the thing BKed in a couple years and wiped the employee pensions.

    Interesting contrast between a right winger and a technologist.

    • rd says:

      If Bezos were a right-wing capitalist instead of a left-wing socialist, he would also have had Congress declare Amazon a farm that makes military hardware so he could tap into both agricutlural subsidies and military consulting contracts.

      We need people running newspapers to have achieved that position the old-fashioned way – inheriting it, instead of being gauche and buying it with cash from the tawdry business of building a business from start-up.

  4. willid3 says:

    our future? outsource the mail, weather data collection, etc? even rescue services???

    http://www.theguardian.com/commentisfree/2013/aug/05/privatisation-public-service-users-bill

  5. Moss says:

    That DEA is at it again. BTW.. they also are hampering the reclassification of cannibals. I wonder if it has anything to do with job security.

    http://www.theguardian.com/world/2013/aug/05/secret-dea-unit-surveillance-authorities

  6. carchamp1 says:

    The dumbest idea in the world was deregulating our commodity markets about 10 years ago. I mean, who would have thought giving hedge fund, pension fund, and other Wall Street investment managers the power to price oil and other commodities would end in disaster? Look no further than our commodity markets, especially oil, for the reason behind this pathetic recovery. Oil is well over twice where it should be thanks to oil “investing” (we used to call it hoarding and cornering the market).

    And, btw, one has to wonder why so many professionals, like those at Forbes, haven’t figured this out yet.