Posts filed under “Financial Press”

Business Week Sale: $1

The FT reports that:

“McGraw-Hill could reap just $1 from a sale of Business Week, according to people familiar with the 80-year-old financial magazine’s losses.

The publisher has appointed Evercore, the boutique investment bank, to sell the business after concluding it was non-core, two people familiar with the decision said. McGraw-Hill, which owns the Standard & Poor’s rating agency and a large educational publisher, would only say it was “exploring strategic options” for Business Week. Evercore did not return calls.

Auctioning a predominantly print business exposed to financial advertisers during a media recession will be challenging. According to the Publishers’ Information Bureau, Business Week’s advertising revenues fell by a third to $77.8m in the first half of 2009. The magazine says its circulation is 936,000.”

Perhaps I should bid $2 . . .


Business Week sale may fetch only $1
Andrew Edgecliffe-Johnson
FT, July 13 2009

Category: Financial Press

Monday Afternoon Reading

Its Monday afternoon — time for a quick linkfest: • Why the ECB Isn’t Acting Like the Fed (Real Time Economics) • CIT Watch: Analysts Says Debt Load Isn’t the Only Problem (MarketBeat) • Lessons Learned (Kirk) • Why Don’t Lenders Renegotiate More HomeMortgages? Redefaults, Self-Cures, and Securitization (Fed Reserve Boston) • The Real AIG…Read More

Category: Financial Press, Markets

For Sale: BusinessWeek

This caught my eye: “McGraw-Hill Cos. hired Evercore Partners Inc., the boutique investment bank founded by Roger Altman, to sell BusinessWeek magazine, a person close to the situation said. The person declined to be identified because the information isn’t public. Spokesmen for McGraw-Hill and Evercore, which are both based in New York, declined to comment….Read More

Category: Financial Press, Web/Tech

NYT: Eloquent Goldman Bashing

The whispers are rampant: Goldman Sachs earnings are gonna top $2 Billion in Q2. On Tuesday, we will learn if they have pulled another rabbit out their hat — along with those $2B net. All the chatter has been about a surprise to the upside. The NYT has an interesting article in Monday’s paper (online…Read More

Category: Bailouts, Corporate Management, Earnings, Financial Press

Saturday Afternoon Reading

I will be otherwise occupied on this gorgeous Saturday with my M-in-L’s 85th B-day for whom we are hosting a BBQ /party! In the meantime, here are a few items I have NOT read, but want to get to in the coming days when time allows. • Cash is King: Take It to the Bank: …Read More

Category: Financial Press, Markets

Friday Afternoon Linkage

Some afternoon linkage before the weekend begins: • Geithner says derivatives blindsided the gov’t (Associated Press) • Beazer Homes, a one-company crime wave (Floyd Norris) • Subprime Resurfaces as Housing-Market Woe (WSJ) • Artificial Stimulus (Dan Gross, Slate) • ECRI on The Great Recession (2008-2010) (Canada Housing Crash) • Lost ‘Animal Spirits’ May Worsen Economy,…Read More

Category: Financial Press, Markets

Thursday Reading

All good stuff: • A law to tame wild bankers (Guardian) • All of the jobs created in the US this century have been lost (Econbrowser) • Economists Oppose More Stimulus (WSJ) • Shipping industry in deep water (Los Angeles Times) see also Shipping flashes early warning signals again (Telegraph) • Capacity Utilization vs. Inflation…Read More

Category: Financial Press

Wednesday Reading

Some interesting and random linkage: • Hall of Shame: 12 of the Worst Financial Gurus (Bill Shrink) • Wall Street’s Newest Product Is Tale of Denial (Bloomberg) • Quibbles With Quants (Psy-Fi) • Why U.S. Financial Markets Need a Public Credit Rating Agency (Berkeley Electronic Press) • Condo Boards Take On Lenders (WSJ) • Bob…Read More

Category: Financial Press, Markets

Afternoon Reading

Some interesting items that caught my fancy: • Picks and Pans From Market Pros (WSJ) • Study: Many Mortgage DefaultsAre Intentional (Time) • Interview: Rolling Stone Matt Taibbi of GS bashing fame (Wall Street Cheat Sheet) • Glut of oil could push gasoline prices back down below $2 a gallon (LA Times) • Oil, Gas…Read More

Category: Financial Press, Markets

Dropping the Truth on Squawk

David Rosenberg has been on Squawk Box for the past hour. He has been dropping the unvarnished Truth on the kids, powering through a basic set of reality regardless of dropped jaws and stunned silence. It has been a thing of beauty to watch. None of the things he is discussing is at all radical….Read More

Category: Economy, Financial Press, Television