Media Navel Gaze: January 7, 2013


The Week Unpeeled

Media Navel GazeThe year started with quite a bit of news, with markets a bit confused over fiscal cliff next steps and reaction to closely followed US employment news, with employers adding 155,000 jobs in December (called “tepid” by WSJ) and the jobless rate at 7.8 percent.  The equities markets rallied hard last week, with the Dow closing at 13,435 amid its biggest weekly point gain in a year.  Elsewhere:

  • Warren Buffett’s MidAmerican Energy Holdings agreed to spend up to $2.5 billion on what was called the largest solar photovoltaic operation, giving a big boost to alt energy;
  • Google got the all-clear from the US on its search engine after an anti-trust investigation, paving way no doubt for more aggressive competition;
  • Transocean (operator of Deepwater Horizon) agreed to a $1.4 billion settlement with US Dept of Justice from Gulf of Mexico gulf-rig disaster;
  • US car sales soared 13 percent, fastest growth in 20 years;
  • Al-Jazeera, the pan-Arab news outlet, bought Al Gore’s Current TV, which will increase its US distribution to 40 million homes;
  • Andrew Sullivan announced plans to leave Daily Beast to go solo on his own subscription website, a move that will be watched closely as the high-profile blogger goes the subscription route;
  • Hugh Hefner at 86 marries his “runaway bride,” 26; and
  • The Daily Telegraph reports that Brad and Angelina also got hitched on Christmas. End of Story

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