Posts Tagged ‘Groupon’

The Week UnpeeledMedia Navel Gaze

The economy exhibited further signs of strength, with the closely watched US employment report showing that payrolls grew by 195,000 in June, while the jobless rate held at 7.6 percent.  The growth will clearly spark Fedtaper talk, which iscertainly crushing bond prices, but stocks markets responded positively with the Dow closing Friday at 15,135, or 1.5 percent higher forthe week.

Elsewhere:

  • Egypt army ousted the nation’s first democratically elected president and put in place a provisional government amid extreme turmoil;
  • SAC Chief Steve Cohen has likely avoided insider-trading charges, with US prosecutors saying they have not gathered enough evidence;
  • The former and infamous Groupon founder has dropped a soft-rock album with “motivational business messages,” according to the Financial Times, called “Hardly Working” about HR issues and quarterly reporting.  Move over JZ Magna Carta;
  • Where’s Snowden continued throughout the Fourth of July weekend amid false reports at one point he was headed to Bolivia;
  • And Andy Murray won Wimbledon, besting Novak Djokovic, for the firstBritish win to the all-grass tournament in 77 years. End of Story
zp8497586rq
Share:
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print

The Week Unpeeled

Well, the budget deadline passed and automatic sequester cuts were forced into place late last week, pushing “the nation’s economy into unchartered waters” (WSJ, Friday, March 1).  Even so, the Dow managed to end the week on a high note, with the blue-chip average climbing within striking distance of its all-time high, ending on Friday at 14,089 on Friday.

Elsewhere:

  • Warren Buffett released his highly read and folksy annual letter to shareholders calling his company’s $24 billion increase in net worth “subpar” (it did trail the S&P 500 by 200 basis points at 14% in 2012) and focusing a bit on his buying “spree” of newspapers, acquiring 28 dailies over the last 15 months;
  • Groupon fired its CEO with a “lead parachute” (CNBC) package of 378.36 (that is a correct number) after extremely disappointing quarterly results;
  • JP Morgan Chase is shedding 17,000 jobs by the end of next year;
  • Pope Benedict XVI hung up his Prada papal slippers and bid adieu;
  • All the Obit News Fit to Print:  In a New York Times obituary last week, an Israeli-born local resident said that he “loved his family, his birth and adopted countries, finance . . . Loved everything about NYC except The New York Times”:
  • Not yet an obit: The State of Michigan said it will appoint a financial manager to oversee Detroit in a tough turnaround assignment for a city $14 billion in debt; and
  • WTF on WFH: Yahoo CEO Marissa Mayer put the kabosh on “working from home,” which was revealed in a leaked email message that got – no surprise – lots of media coverage, from bloggers who no doubt were.
Share:
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print

Yes, you read that correctly and no, I'm not being facetious. Groupon, in its continuous and earnest effort to remain highly relevant and slightly amusing has recently posted the deal of the century! All you have to do is fork over that $1,000 you have gathering dust on your nightstand and have an affinity toward the name "Clembough."

Have you, or someone you know, been stressing about how to define your forthcoming bun in the oven? As an avid human with many acquaintances—and, for reasons unbeknownst to me, few friends (shocking, right?!)—I know quite a few proud parents. And despite the fact that these parents pretend not to know me for the sanctity of their children, I have taken note as the all-to0-familiar difficulty they've have in naming their beloved chubby crying machines. It's very difficult to remain trendy with baby names. Look at my name for example; Aaron is boring, shallow and nearly impossible for people to figure out the spelling of when audibly spoken. Yes, my life has been full of many painful trials and tribulations. But back to the matter at hand: What if you, a trendy parent, bestow a name to your child that isn't on this year's trendy baby name list?! I wouldn't want anyone to suffer the unending looks of disdain that every passerby on every street would graciously give a parent who named their children without trends in mind. The pure, unbridled horror makes me shudder.

Read the rest of this entry »

Share:
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print

The Week Unpeeled

Not a week of great headlines from all corners of the world, from Greece (referendum?) to MF Global (Refco redux?) to Kim and Kris (referees, please) but busy nonetheless. For example:

  • MF Global went bust and bankrupt, customer money went missing (reportedly found at JP Morgan) and Jon Corzine of Goldman Sachs chief, New Jersey senator and governor fame went looking for a job (this is becoming a completely twisted way-too-connected story with CFTC chief Gary Gensler having to step down from the investigation because of his friendship with Corzine (really, is anyone paying attention to details here?);
  • The US jobless rate fell to 9.0 percent in October (from 9.1 percent in September) with 80,000 new jobs added to payrolls, an extremely modest pace but one that dimmed double-dip prospects (The Fed is projecting an 8.6 percent rate for 2012);
  • Groupon went public, with prices climbing at one point by as much as approximately 55 percent on its debut and closing at $26.11 a share, with a market cap on Friday of $16.7 billion (more than, as WSJ pointed out over the weekend, Macy’s, Delta or CBS);
  •  “Papandemonium” no doubt held center stage in Cannes at the G20 meeting after the Greek PM scrapped plans to hold a referendum on the latest rescue package agreed upon by the EU and will instead seek to form a coalition with the main opposition party;
  • Robin Hood taxes: At the G20 summit, Bill Gates joined activists from around the world in calling for a Financial Transactions Tax, which is gaining support from groups such as Oxfam, the World Wildlife Foundation. Gates has recommended that there should be a small tax on trades of stocks, derivatives and other financial instruments to help fight poverty and deprivation around the world; and
  • The Dow ended Friday at 11,983, down 2 percent for the week after a stellar October.

Andy Rooney Dies at 92

The legend of “60 Minutes,” who appeared in 1,097 closing segments of the most popular news show on TV ever had just retired after more than 60 years in television journalism, starting his career with the birth of TV. The tributes to Rooney showed his depth as a television journalist and producer. But did you know he never started his show asking, “Did you ever…”  That can be linked to Joe Piscopo on “Saturday Night Live” in his impressions of Rooney.  An honor, indeed. CJP

Share:
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print

The Week Unpeeled

The Arab spring turned to Arab fall last week with the death of Libyan strongman Moammar Gadhafi (The New York Times spelling), whose death was a bloody viral event that was clouded by confusion when the news broke on who killed him and how he died. (The New York Post claimed a Yankees fan, because one of the assassins was wearing a Bomber hat.)  Interesting over the weekend that the front page of The Times and The Wall Street Journal used the exact same photo of Libyans queuing to view the body.  President Obama also announced that the US will pull out all its troops by year in Iraq following nine years of occupation.

Elsewhere:

  • Groupon downsized its offering in a filing that stated the Internet company would sell just 5.4 percent of its shares;
  • News Corp held its annual meeting on Friday in Los Angeles amid new allegations that the hacking scandal even targeted Kate Middleton, the Duchess of Cambridge;
  • JP Morgan Chase became the largest bank in the US, beating out Bank of America, with assets of $2.29 trillion;
  • As bank ranks shifted, Goldman Sachs announced it a quarterly loss, a rare event for the bank.
  • The Occupy Wall Street movement has now also caught on in London, with protesters camping outside St. Paul’s Cathedral for the past six days and forcing the cathedral to close to visitors for the first time since World War II;
  • European Markets rose on Friday as European leaders held a series meetings to discuss resolving the French and German rift, how to head off a Greek default and agree upon a “definitive” plan to end the euro crisis; and
  • The Dow rallied on Friday 2.3 percent to end on a positive note for the fourth week in a row at 11,808. CJP
Share:
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print