Ed’s Daily Notes for November 18th   Leave a comment

There are a lot of Federal Reserve bigwigs giving speeches this week, with the highlight being Chairman Ben Bernanke’s Tuesday night speech. However, even more important will be the Wednesday release of the FOMC meeting minutes from their October 30th meeting.

For earnings reports this week, here is an abbreviated schedule of the 180 earnings reports expected:

TUESDAY: Home Depot (HD)
WEDNESDAY: Lowes (LOW) and Deere & Co. (DE)
THURSDAY: Target (TGT) and Intuit (INTU)

New York Times: Bloomberg News Suspends Reporter Whose Article on China Was Not Published

A reporter for Bloomberg News who worked on an unpublished article about China, which employees for the company said had been killed for political reasons by top Bloomberg editors, was suspended last week by managers.

The reporter, Michael Forsythe, was based in Hong Kong and has written award-winning investigative articles on China. He met with supervisors and was placed on leave, said two Bloomberg employees with knowledge of the situation, which was supposed to be private. The move came days after several news outlets, including The New York Times, published reports quoting unnamed Bloomberg employees saying that top editors, led by Matthew Winkler, the editor in chief, decided in late October not to publish an investigative article because of fears that Bloomberg would be expelled from China.

The article, about a Chinese tycoon and his ties to families of Communist Party leaders, was written by Mr. Forsythe and Shai Oster. Mr. Winkler has denied that the article was killed.

While I have great respect for Bloomberg as a news source, keep this story in mind. Even Bloomberg doesn’t tell ALL the story.

Speaking of Bloomberg…

Bloomberg: Google Opening Showrooms to Show Off Gadgets for Holidays

Google Inc. (GOOG) is opening showrooms in six U.S. cities, promoting its latest products and stepping up retail efforts against Apple Inc. and Microsoft Corp. (MSFT) as the year-end holiday shopping season gets under way.

Called Winter Wonderlabs, the outlets feature products such as Nexus 7 tablets, Chromebook computers and Chromecast video-streaming devices, the company said on a new website yesterday. Consumers can order the gadgets online after looking at the wares. The stores also feature a large snow globe that lets customers take videos of themselves, complete with fake snow.

Remember the old complaint from retailers about customers browsing at stores, but buying online? Google has a solution for that, although retailers may not like it.

The Hill: Geithner heading to Wall Street firm

In case you were under the misconception that Wall Street isn’t in bed with Washington, I offer you the following:

Former U.S. Treasury Secretary Tim Geithner will join the private equity firm Warburg Pincus.

…Geithner becomes the latest former administration official to head to a private equity firm, a common practice through many administrations.

Have a nice day, knowing your government is in good hands with Wall Street…

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Posted November 18, 2013 by edmcgon in Federal Reserve, News, Politics, Stocks

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