Category Archives: Economy
Uber Founder Ejected
Uber investors forced C.E.O. Travis Kalanick out of the company he founded.
Here’s Reuters:
The resignation sent shockwaves through Silicon Valley and leaves Uber’s board of directors with the problem of finding a dynamic leader who also has a steady hand needed to heal Uber after a bruising six months.
Uber Founder Ejected
And here’s MIT Technology Review on Uber’s driverless car problem:
Its new CEO will inherit many problems, but a business plan based on the elusive dream of driverless cars is the largest.
Anthem Takes a Hike
Anthem Insurance recently pulled out of Ohio’s ObamaCare exchange. The company cited “a mix of uncertainty and big losses from higher-than-expected bills racked up by sick policyholders.”
Also, Anthem cited the shrinking individual market — a half million fewer people signed up for Obamacare during open enrollment this year — and the return of an Obamacare tax levied on insurers that had been waived for 2017 as reasons for its departure.an uncertain future for ObamaCare and declining
Bull in the Swamp
When President Trump rides high so does the stock market. The Dow Bull has surged 2,700 points since his election.
Trump and Bull Get Swamped
But as allegations from unnamed sources rise in the media, President Trump sinks in the swamp. Apparently, so does the stock market. The Dow lost 373 points on Wednesday. The experts say investors worry that if Trump goes down so will his agenda for tax cuts, less regulation, and more growth.
Most experts that is. Wharton professor Jeremy Siegel, says the market could spike 1,000 points if Trump resigns.
Update: Well, as of noon Friday the Bull has clawed back over 200 points of Wednesday’s losses. Maybe I was just looking for an excuse to draw an alligator.
Trump Tax Plan
Obama Wall Street Fat Cats Speech
Barack is back. He will give a speech to the Wall Street firm Cantor Fitzgerald in September. HIs fee? $400,000. The same amount as his annual salary as president.
President Obama had harsh words (at no extra charge) for Wall Street bankers in 2009. He called them “fat cats who don’t get it.”
Elizabeth Warren isn’t happy.
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