Posts Tagged ‘CNBC’

The Week Unpeeled

Sequester talk trumped the Harlem Shake and remained top topic all week, with no quick budget resolutions in sight, which only means US spending cuts will start in the coming weeks.  Even so, the Dow finished up only slightly (0.1 percent) this week after a strong rally Friday to end at 14,000, with a few strong earnings reports and a hint of optimism over the increased number of deals announced or in the works. (Add to the roster Office Depot and OfficeMax intent to merge.)

Elsewhere:

  • On the TV front, CNBC said it was buying the “Nightly Business Report” from Atalaya Capital Management.  The PBS show is seen in 96 percent of the homes in the US.  Format is expected to remain the same and Tyler Mathisen of CNBC will be the anchor;
  • Martin Zweig, the investor, newsletter author, and TV pundit who predicted the 1987 stock-market crash died;
  • Somewhat interesting:  Ads during the Oscars are rivaling SuperBowl ads, according to Stuart Elliott, in his weekly New York Times column, with 30-second slots costing as much as $1.8 million;
  • Even more interesting:  Time magazine published one of its longest if not its longest articles ever last week, “Why Medical Bills Are Killing Us” by Steven Brill, in a fastening piece on waste in the industry and a testament to need for long-form journalism (36 pages and very readable!);
  • Moody’s downgraded UK’s credit rating to Aa1 from triple-A
  • Spring training officially began over the weekend; and
  • The other Oscar (Pistorius) is out on bail in a case that really only gets weirder. End of Story
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Unwritten Rules: What You Don't Know Can Hurt Your CareerDon’t wear flip flops. That was one of many rules outlined in the employee handbook we received when we first started at Prosek. We also aren’t allowed to harass or threaten our co-workers or come to work smelling bad as “good personal hygiene is expected.” Those are all easy enough rules to follow.

But remembering to apply deodorant and hiding your flip flops is hardly going to put your career on the fast track. As we learned earlier this week, there are other rules, “unwritten rules,” which are the key to career success.

We attended the British American Business’ Women's Forum hosted by KPMG and based on research conducted by Catalyst. The event consisted of a panel discussion on the unwritten rules for career advancement. The panel was made up of a group of successful women: Sarah Diamond, General Manager of Global Consulting Services at IBM; Kelly Watson, Managing Partner at KPMG; Laura Sabattini PhD, Senior Director of Research at Catalyst; and Amanda Drury, Anchor on CNBC.

According to Catalyst the term “unwritten rules” is generally used to describe unspoken workplace norms and behaviors that are necessary to success within an organization, but that are not communicated as consistently or explicitly as formalized work competencies are. Often, these behaviors are viewed as “what successful employees should do.”

Some of the rules are classic to business advancement 101, such as do good work, find the right mentor and build a professional network. Others were equally as important but less popular to admit, such as playing office politics, working long hours and never leaving the office before your boss.

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The 2008 financial meltdown caused most investors to become extremely conservative with their investment strategies.  Many turned their assets into cash and earned that tantalizing .04% interest rate.  Some investors even went as far as to purchase bonds with negative yields!  That’s right, rather than earning interest, they were paying sovereign governments interest just to hold their money safely.

Despite the economic uncertainty that still surrounds us, investors are gravitating back to normal investor behavior.  And if CNBC’s new online web-show focused on futures trading is any indication, it seems as we’ve finally made it Back to the Futures.

CNBC is premiering a 15-minute online show today about the multi-trillion dollar futures market called Futures Now.  The show will stream live on CNBC.com on Tuesdays and Thursdays at 1 P.M.  Its purpose is both informational and educational.

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No Comments » Written on October 2nd, 2012 by
Categories: Business, From the News, Journalism
Tags: , , , , ,

Following his annual meeting with Berkshire Hathaway investors over the weekend, Warren Buffett sat down with Becky Quick from CNBC for a special edition of Squawk Box. At exactly 6:52 AM, they started to discuss whether or not the banks today are “too big to fail.” Andrew Ross Sorkin (who, as author of the best-selling book Too Big to Fail, certainly understands this topic) asked Buffett about Glass-Steagall, and if he thought the 2008 crisis would have happened if the act hadn’t been repealed. Buffett’s answer essentially was, well, it’s complicated.

For those who aren’t caught up on their Depression-era history, the Glass-Steagall Act of 1933 effectively built a wall on Wall Street, separating banks that did risky investing from those that did basic lending. In 1999, President Clinton signed a bank deregulation bill, Graham-Leach-Bliley, that broke Glass-Steagall as if it were… glass. Graham-Leach-Bliley is often cited as a cause of the ‘08-‘09 meltdown. Warren Buffett here acknowledges that while the act likely did contribute to the financial meltdown, it’s much more complicated than “too big to fail.” Buffett’s exact words, actually, were “size did not solve the problem!”

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The Week Unpeeled

Temperatures rose but headlines seemed to cool a bit, especially in comparison with previous weeks (remember Arnold and DSK), with President Obama in London (and staying at Buckingham Palace) and Europe for the G8 meetings (where the industrialized nations pledged $40 billion in aid for new democratic governments in Northern Africa and the Middle East) and then in Joplin, Mo., visiting with victims of the tornadoes, the deadliest in six decades.  Elsewhere:

  • Oprah signed off from her 25-year run as talk-show queen, expressing gratitude to God on her last show;
  • Martha Stewart, another media queen, hired Blackstone to look at offers that would help her sagging brand;
  • CNBC’s Mark Haines of “Squawk Box” and “Squawk On The Street” died suddenly at his home last week, shocking all in business media and forcing a moment of silent at the New York Stock Exchange, where he had reported from for so many years;
  • Frank Bruni, a one-time food columnist and political journalist at The New York Times, was named op-ed columnist in a new column for the paper’s redesigned Sunday’s op-ed pages;
  • Lady Gaga offered her “Born This Way” album on Amazon for 99 cents through the retailers new Cloud Drive service, causing servers to stall, fans to revolt and Amazon eventually staging a do-over the next day; and
  • The Dow continued its losing streak for the fourth week in a rose, closing at 12,441 on Friday, pressured by Eurozone concerns.

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