In response to what I wrote about gentrification not driving low-income minorities from their neighborhoods, the reader tegwar raises a very good point: What exactly do we mean by “gentrification?” He writes:
I’m a touch underwhelmed on first glance. They define gentrifying neighborhoods as those which were in the bottom quintile by
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A story I wrote about how gentrification does not drive low-income minorities from their neighborhoods went up on Time.com over the weekend. It starts:
People tend to think gentrification goes like this: rich, educated white people move into a low-income minority neighborhood and drive out its original residents, who can no longer
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I just had a delightful conversation with Gus Sauter, chief investment officer of Vanguard. You might expect the man who used to run the much-beloved investment shop’s index funds to be dull as dirt, but quite the contrary. Did you know that he started a gold mine back in the early 80s?
As the market has gone a-plunging the past few …
Here’s the beginning of that story I mentioned yesterday:
Nearly 9% of all U.S. mortgages–or 4.8 million loans–are past due or in some stage of foreclosure. So when a company claims to offer distressed homeowners both relief from their mortgages and revenge against the bankers who saddled them with too much debt (“Give the lenders back
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I was getting ready to go on CNN earlier today to talk about a story that’ll be in tomorrow’s dead-tree version of Time when I saw the breaking news about the DOJ and FBI busting 406 people, 60 of whom were arrested yesterday, for mortgage fraud.
The denouement of the three-and-a-half-month-long “national takedown” dubbed Operation …
This morning I went to a panel discussion titled “Microfinance: Business or Charity?” at the Council on Foreign Relations. A woman from ACCION International asked me if I normally cover the topic. I said that I cover business and economics more generally. To which she said: “And now we’re in business and economics.” Which I guess kind of …
After our meet-and-greet, the Oracle of Oil sat down to answer a few questions on camera:
And then completely unprompted, he added:
The Corporate Library released early results of its annual CEO pay survey this morning. The takeaway: CEOs of big companies get richer. CEOs of less-big companies don’t even keep up with inflation.
Consider:
For the 380 CEOs who were in post for the whole of 2006 and 2007, the median increase in total actual compensation has fallen to
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Lest I appear ungrateful for Justin’s invitation to post at will, I should mention that I’ve been in India for the past two weeks. I was there for a friend’s wedding, though macroeconomics was never far from my heart.
Wholesale inflation (India still doesn’t use consumer prices) has jumped over the past few months and now stands …
Bill Carter at the New York Times reports that NBC is launching a 24-hour local news channel in New York, which will subsume the network’s current local news operation. Local news audiences are “eroding and aging” (the words of John Wallace, NBC’s newly christened president of local media) and the way broadcasts currently work is “just …
Yes, it’s true, I do have a magazine story to write, but first I must share this video of CNBC’s Becky Quick interviewing Warren Buffett. This is like day 226 of CNBC’s Berkshire Hathaway annual meeting blitz coverage. I tried to keep up, really I did.
Becky starts off by saying that after more than five hours of questions from …
8:42 a.m. (all times Central): It’s begun! They’re playing the movie. Starts out with a musical montage with scenes from Berkshire subsidiaries. Makes me wonder if “It’s a Beautiful Day” is, in fact, the most-played song at annual meetings. Then goes to a cartoon in which Warren and Bill Gates (Berkshire director and Buffett bridge …
