My afternoon train reading:

• Maximizing shareholder value: The goal that changed corporate America  (Washington Post)
• Economy recovering, but pay stuck in the doldrums (SFGate) see also How Wide Is Your Wage Gap? New Rule Would Reveal CEO Pay vs. Employee Pay (Forbes)
• Study: 0.7% of all mobile malware affects iOS, Android accounts for 79% (Tuaw)
• China’s American Bailout? (Project Syndicate) see also China Construction Bank Sees Bad-Debt Risk (WSJ)
• How to Charge $546 for Six Liters of Saltwater (NYT)
• Microsoft’s Ballmer on his biggest regret, the next CEO and more (ZDNet) see also Ballmer Departure From Microsoft Was More Sudden Than Portrayed by the Company (All Things D)
• A Quest for Even Safer Drinking Water (NYT)
• Summer 2013: Who Really Owns the U.S. National Debt? (Political Calculations)
• The Dirty Talk Of The Town: Profanity At “The New Yorker” (The Awl) see also The New York Times (quietly) drops the F-bomb (Salon)
• U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion (The Onion)

What are you reading?


Debt Drags on China’s Growth
Source: WSJ

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.

10 Responses to “10 Tuesday PM Reads”

  1. Looks like the NYT site is down

  2. > How to Charge $546 for Six Liters of Saltwater

    Makes your blood boil. A lot. Meanwhile . . .

    “An apparent booze-fueled dispute over loud music between two groups at a Chino campground over the weekend escalated to the point where men from both sides drew guns and opened fire.”

    Rival campers who opened fire turn out to be Los Angeles County sheriff’s deputies (LA Times)

  3. > Looks like the NYT site is down

    “The New York Times Web site was unavailable to readers on Tuesday afternoon following an attack on the company’s domain name registrar, Melbourne IT. The attack also required employees of The Times to stop sending out sensitive e-mails.”

    Times Web Site Affected by External Hacking Attack

  4. rd says:

    It is getting to be so hard to differentiate between articles in The Onion and the MSM.

    For example, which one would you think this quotation came from?

    “One of the most influential changes took place in 1999, when IBM overhauled its pension plan under Gerstner to help cut costs, shocking longtime employees. Guyer, the former IBM software developer, said she still remembers the surprise of getting a letter in the mail showing her cash balance for retirement after about two decades at the company: $30,000. “It was like, ‘Oh, my God, we’ve been totally ripped off,’ ” she said.”

  5. A little talkative today . . . last one.

    “An elite Israeli intelligence unit intercepted conversations among high ranking Syrian government officials discussing last week’s apparent chemical attack outside Damascus as it unfolded, a German news magazine has reported.”

    Israel may have intercepted Syrian discussions about chemical attack

    • S Brennan says:

      James, Let’s put are thinking cap on together shall we?

      You [ISRAEL] are about to have your Numero Uno Ally [TEAM USA] do a little bombing in country [B] which serves your interests You have been intercepting high level secret communications and in advance of hostilities, you give away to your enemy [SYRIA] the “who, what and where” you’ve been listening to…effectively telling your adversary not to reveal any more “secrets”. Where this fable true, people would be shot for revealing such details. It’s obvious dis-information.

      Now before you and I take our thinking caps off…let’s say three words together…ready?


    • RW says:

      At this point I frankly wouldn’t trust an Israeli intelligence report on Syria, even one that included audio and visual, unless its conclusions ran counter to Bibi’s agenda and the rising drumbeat of war. This report could be true but I am deeply skeptical.

      • Exactly who’s intelligence would you trust? An argument for a US strike will require a carefully prepared and presented case to the US public and other countries, especially mindful of 2003.

        The fact of the matter is, there isn’t a party involved on any side here who doesn’t have a vested interested of one sort or another in the outcome, and Israel is hardly unique is regard.

  6. RW says:

    Whither the consumer? (ht MT)

    …So, I’m looking at some graphs [and] there is something rather odd about the recent recovery dynamic. In the U.S., the business cycle is mostly about investment spending. Consumer spending (non-durables and services) is relatively stable. And in the typical recovery dynamic, consumption and investment tend to move together (this applies to booms as well).

    …With the onset of the 2008 recession, we see the sharp drop in consumption and the even sharper drop in investment. The decline in both series initially was not unusual–apart from the severity of the shock. What is unusual is the subsequent recovery dynamic: consumption and investment appear to be heading in different directions, relative to their historical trends. …

    …[yet] debt-service ratios are now at or close to their historical lows. Is the consumer now ready for a major comeback?

    If not then even the tepid projections of US growth currently in vogue may be unduly optimistic. Based on longitudinal trends in wage growth I would conjecture that models of how to grow an economy with less consumption will become popular.

  7. rd says:

    I love it when the media use technical terms without knowing what they mean.

    In most cases, a negative feedback loop is good and a positive feedback is bad. Postive feedback means that the feedback is reinfiorcing itself but negative feedback is self-dampening. That horrible loud sound with a badly set-up sound system is positive feedback. Jimi Hendrix used positive feedback to get many of the sounds with his guitar.

    Negative feedback is when the market shrugs off bad news and just hums along with low volatility.