THE WEEK UNPEELED
Not a great week for the banks, it seems. Moody’s downgraded five of the six largest banks in the US and a similar number overseas based on increased risk and lower profits, lending anything but support for choppy markets last week that saw the Dow lose about 1 percent to end Friday at 12,640. (Banks did trade higher, though. Buy the fact?) Euro banks aren’t faring well either, with Spain and Italy in bailout cross-hairs. Moody’s since has been on the defense on such argument as why the industry as a whole and why so late. Elsewhere:
- Google chief Larry Paige “lost his voice,” which caused some to scream (especially some headline writers: WSJ: “What’s Ailing Google Chief?”); he also missed the company’s annual meeting, btw, so don’t we kinda have to speak up about, in a best-practice corporate comms speaking sort of way;
- Microsoft unveiled a tablet last week, the first computer the company ever made;
- Nokia announced it would slash 10,000 jobs by end of next year;
- NBC news division suffered several media blows about its slumping viewership numbers amid reports that Anne Curry of “Today” will likely depart;
- King James took home an NBA championship for the Heat; and
- Artist LeRoy Neiman, known for his impressionistic paintings of sport figures, died.