This morning, at 10:48 a.m., an e-mail arrived in our inboxes from our boss: the layoffs were here.
In previous weeks, the memos had come fast and furious from corporate announcing impending cuts along with dramatic reorganization at our company. Top editors and business managers at Time Inc. were being replaced or moved around. Each …
Deborah Solomon and Michael Phillips have a great article in Saturday’s WSJ about the Tim Geithner vs. Larry Summers Treasury Secretary bakeoff. They say Obama’s advisers are split between the two. And they offer lots of color about the long and friendly relationship between the rivals. They met when Summers arrived at Treasury in 1993 …
The deficit for the 2008 fiscal year, which ended Sept. 30 was $455 billion, the Congressional Budget Office reported Friday. And the estimated deficit for the month of October? $232 billion!
That’s if you count the Treasury’s bank capital injections on a cash basis. Use the CBO’s present-value calculation and October’s deficit drops to …
That was one thing the president-elect made crystal clear in his press conference today, declaring at least twice that the U.S. only has one president at a time and it won’t be him until January 20. As for his economic plans, the focus of the event, he didn’t say anything major that he hadn’t said already. The one possible bit of news …
Neel Kashkari, the man who runs the American banking system (a.k.a. the Interim Assistant Secretary of the Treasury for Financial Stability), came to New York today to speak to a bunch of business school students at the annual Wharton Finance Conference. The most interesting information that I got out of sitting in on his speech was that …
A whopping 0.38% of American nonfarm jobs disappeared in September and October, the Labor Department announced today.
What? That doesn’t sound whopping? It’s 524,000 jobs, which amounts to a lot of people’s livelihoods lost and financial security dashed. But it’s still just a tiny share of those employed in this country, estimated at …
It’s just been announced that David Booth, co-founder of Dimensional Fund Advisors, is giving $300 million to the University of Chicago Graduate School of Business, which will be renamed the University of Chicago Booth School of Business. Given that pretty much all of DFA’s product line has grown out of research done at the Chicago …
My thinking is no. But since it’s a question that a lot of people may be asking over the next few days, it is worth exploring. Summers was an awfully controversial guy a couple years ago. And the things that made him controversial will all be revisited if he has to sit through a Senate confirmation hearing.
Here’s a quick run-through of …
So says a new article in CIO Magazine. Meridith Levinson, a self-described “scrappy, do-it-yourself latch-key kid,” lists five reasons why Gen Y will do okay in the coming economic kaboom. Hard to believe, considering
According to a CareerBuilder survey from 2007, 74 percent of employers say Gen Y workers expect to be paid more; 56
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1. CNN’s bizarro holograms. I’m the only one alive who thought they were neat-o.
2. Tina Fey. I could watch her all day, and, ever since she became Sarah Palin, I did. They should create a Tina Fey network so she’d be on 24/7. Maybe she could start practicing her Rahm Emanuel impression. Tina can do anything. I love me my Tina.
3. …
Let’s be clear about this: Barack Obama isn’t going to raise your taxes in 2009. He already said back in September, before the severity of the current economic downturn was apparent, that he would probably hold off on rescinding the Bush tax cuts on high-income households because of the fragility of the economy. In October, his campaign …
Women get paid less. No news flash there. What’s a little more interesting in The Corporate Library’s look at how much money male and female CEOs make is that women actually have higher base salaries, but lose out overall once bonuses, perks and other cash incentives are added in.
The research, by Paul Hodgson and Greg Ruel, used data …