TOP NEWS: Economy: October 1st, 2012
- Main Street’s Landlord
- Debt limit lurks in fiscal cliff talks
- Payroll Tax Cut Is Unlikely to Survive Into Next Year
- Taxpayers Lose When Colleges Are Too Big to Fail
- Post-Rally Risks in U.S. Stocks
Excerpts and More Top News and Analysis:
RECOVERY: Main Street’s Landlord - NYT, OPINION
BERT STRATTON: For all the attention it’s getting from our presidential contenders, Main Street has it tough right now.
RECOVERY: Obamanomics: A Counterhistory – NYT
By DAVID LEONHARDT: What could the administration have done to strengthen a weak recovery?
RECOVERY: Fixing the capitalist machine - ECONOMIST
Some sensible ideas for reviving America’s entrepreneurial spirit
RECESSION: Numbers May Signal Oncoming Recession, Or That One is Already Here – TIME
New data give support to those who believe the U.S. economy is already contracting
FISCAL CLIFF: Debt limit lurks in fiscal cliff talks – FT
The political will – or time – to include a rise in the US borrowing limit as part of the talks to avoid the fiscal cliff may not materialise
FISCAL CLIFF: White House Weighs Aid for Firms on ‘Fiscal Cliff’ - WSJ
The White House signaled that the federal government could help firms deal with litigation and other costs if they must cancel contracts or lay off employees if mandated spending cuts kick in next year.
TAXES: Payroll Tax Cut Is Unlikely to Survive Into Next Year – NYT
ANNIE LOWREY: A tax break for 160 million wage earners, pushed last winter by the White House, now finds little support in Washington, as Congress struggles with deficits and turns its attention to the Bush-era income tax cuts.
EDUCATION: Taxpayers Lose When Colleges Are Too Big to Fail – BLOOMBERG, OPINION
RICHARD VEDDER: Many Americans opposed federal bailouts of financial institutions and large corporations. By promoting a “too big to fail” policy, favored businesses can engage in risky, undesirable behavior, while deriving unfair advantages over competitors, all financed by the taxpayer.
MARKETS: Post-Rally Risks in U.S. Stocks – WSJ
To the surprise of many investors, U.S. stocks are going into the final quarter of the year within shouting distance of all-time highs. But many investors are looking ahead and wondering how much further stocks can rally.
MARKETS: Get Ready for a Volatility Shock - BARRON’S, OPINION
By JIM STRUGGER: It pays to be cautious when the VIX is at muted levels and the market looks calm. The comforts of a put-spread collar.
MARKETS: Wall Street: Leaner and meaner - FT, OPINION
TOM BRAITHWAITE: Banks confront a post-crisis world of tougher regulations and lower profits
MARKETS: As Money Pours Down, It’s No Wonder That Stocks Are Up - NYT
JEFF SOMMER: The markets are getting plenty of help from the world’s big central banks. Will it be enough to keep the current rally going?
SEC: SEC Sues the One Rating Firm Not on Wall Street’s Take – BLOOMBERG, OPINION
William D. Cohan: The Securities and Exchange Commission, it seems, has finally lost its mind.
COMMODITIES: US court scraps CFTC position limits rule – FT
A federal judge said the agency failed to determine that its rule was “necessary to diminish, eliminate or prevent” excessive speculation
TREASURY: If He Wins, Obama Would Name New Treasury Chief - WSJ
A new Treasury secretary in the Obama cabinet could play a key role negotiating with Congress about the looming “fiscal cliff” of tax increases and spending cuts.
BANKING: Attacks on 6 Banks Frustrate Customers - NYT
The cyberattacks, by a group claiming Middle Eastern ties, caused Internet blackouts and delays in online banking, and the banks did not explain clearly what was going on.
WEALTH INEQUALITY: Super-Rich Irony - NEW YORKER
by Chrystia Freeland: Why do Leon Cooperman and other billionaires feel victimized by Obama?
LABOR: Shikha Dalmia: The Next Battleground in the State Labor Wars – WSJ, OPINION
In Michigan, unions have put a measure on the November ballot that would make collective bargaining a constitutional right.
CAR INDUSTRY: Toyota, Honda Race Back in U.S. - WSJ
Auto makers are expected to show healthy growth when they report September sales on Tuesday. But the market is getting tougher and much of the sales gains are expected to come from Toyota and Honda.
FOOD: Editorial: From Farm to Landfill - NYT, EDITORIAL
Unless food waste is reduced, agriculture will always be the Red Queen, running as fast as it can to stay in one place.
GAS: Shift by Cuomo on Gas Drilling Prompts Both Anger and Praise - NYT
Recent developments have created a sense in Albany that Gov. Andrew M. Cuomo, once poised to approve hydraulic fracturing in several struggling New York counties, is now consigning the practice to oblivion.
APPLE: Dissecting Tim Cook’s apology over Apple Maps - WP
A closer look at the CEO’s rare and candid apology for the company’s software.
BUSINESS NEWS & ANALYSIS
SOFTWARE: Nokia Seals Mapping Deal – WSJ
Nokia, looking to increase use of its mapping software, will announce a new deal with Oracle intended to give Oracle’s customers access to Nokia’s growing map data and location services.
GLENCORE: Xstrata Board Recommends Glencore Deal - WSJ
Xstrata unveiled a complex new shareholder voting structure for its $70 billion merger with Glencore that the natural-resource giants hope will keep the deal from foundering on differences over executive pay.
CELLPHONE: Start-Up Skirts Cellphone Data Plans - WSJ
A start-up backed by a founder of Skype is set to launch a wireless data service that promises to save customers hundreds of dollars a year.
TECHNOLOGY: Honeywell to Buy Stake in Thomas Russell - WSJ
Honeywell agreed to buy a 70% stake in Thomas Russell, a technology and equipment provider for natural gas processing and treating, for $525 million as the company looks to broaden its offerings in the shale and natural gas markets.
PIPELINES: First Reserve, Triangle Form Pipeline Venture - WSJ
First Reserve and Triangle Petroleum formed a venture to build pipelines in North Dakota.
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