The Week Unpeeled
Crosshairs Week: The Obama administration continued to take heat amid “hold-me-accountable” apologies from HHS secretary for the botched launch of the federal health-care system, and SAC Capital is expected to plead guilty to securities fraud amid a settlement that will prohibit the fund from managing any outside money.
- Brazilian entrepreneur Eike Batista, once worth more than $30 billion, filed for bankruptcy in one of the biggest riches to rags stories ever in the business world (and with great stories seemingly everywhere about bravado claims to investors);
- Beloved and beleaguered Blackberry is finding suitors ahead of its auction deadline, suggesting a return to life may still exist for the smartphone;
- CBS, it was reported, is developing a 24-hour online news service, repurposing CBS News video and content;
- A gunman killed one TSA officer and wounded others at LAX airport;
- Airplane mode may be almost history with new regulations expected next year to put an end to that annoying “anything-with-an-on-off-switch” announcement;
- What Chinese Wall? Time Inc. said that editors of its magazines would report to the business side and not the editor in chief of Time AND that it is making Norman Pearlstine the former editor in chief of Time but now at Bloomberg as exec vice president and chief of content;
- The proverbial cowboys of the financial markets, forex traders, are at the center of a probe into market manipulation, revealed in a chat rooms, with six Barclays trader suspended in London and others from as many as five banks either suspected and/or reportedly part of the investigation; and
- The Dow ended up 0.3 percent to finish the week at 15,615.