The Week Unpeeled
The @ sign did some major overtime in headlines last week following the Twitter IPO, which by all accounts so far has been a success with early valuation at approximately $18 billion, led by Goldman Sachs, in the biggest tech launch since Facebook—not bad for a company that is losing money; Coverage not only focused on the launch, the wealth and the 140 characters but also social-media advertising and what businesses may be most successful in marketing on this platform.
- The US employment picture brightened with an unexpected 204,000 jobs added in October amid upward revisions to the two prior months and a steady jobless rate of 7.3 percent and talk of less tapering in the months ahead;
- The Dow ended the week 0.9 percent higher to close at a record 15,761 following a jobs-report rally on Friday;
- President Obama made a major public apology over Obamacare and his “keep-your-plan” vow;
- The biggest typhoon on record hit the Philippines with winds exceeding 170 miles per hour;
- Nikki Finke leaves Deadline Hollywood, where the blogger broke countless celebrity and film-industry business stories and tweeted she has no non-competes so stay tuned;
- Bill de Blasio wins the mayoral race in New York in a landslide left-leaning election;
- A Tesla car was destroyed by fire after its battery was damaged, sending shares sharply lower for the closely watched electronic car company; and
- Amid fall art-auction season, Christie set the highest price ever at $85 million for a triptych by British artist Francis Bacon . . . a week of superlatives all around.