The Week Unpeeled
The week saw President Obama continue to nominate new members to his cabinet while banks and Wall Street dealt with layoffs. Chief among Obama’s nominees was Jacob J Lew, of whom we all learned about his curly-cue signature, as Treasury Secretary.
- Morgan Stanley announced plans to lay off 1,600;
- American Express also plans to cut 5,400 jobs, mostly in the travel group;
- Apple will release a lower-priced iPhone;
- Jerry Seinfeld and Sony will re-sign for a second season its Web series, “Comedians in Cars Getting Coffee”; that’s so post Leap Year move;
- Ada Louise Huxtable, the former Pulitzer Prize winning New York Times architecture critic and most recently with The Wall Street Journal, died at 91;
- Downton Abbey premiered its third season in the US at 7.2 million viewers, one of the highest PBS shows in more than 20 years;
- The official portrait of the Duchess of Cambridge was unveiled to pretty bad reviews as “old and dowdy”; and
- The Dow ended the week slightly higher and is up 2.98 percent at 13,488.