Media Navel Gaze: August 31, 2015
The Week Unpeeled
Neck braces. The likely new swag from exchanges last week, where investors saw prices swing by as much as 10,000 points over the last five days ("Market Reels"), amid expectations for more volatility ahead. Despite the wild ride, markets were pretty quiet on Friday and actually ended slightly higher on the week with the Dow gaining 1.1 percent to close 16,643. Chances for the Fed to raise rates soon were likely less likely now.
- The Carly Fiorina team charged back at Andrew Ross Sorkin in a full-page letter last week in The New York Times, after his column called her business record "not so sterling"; the golden gloves are off;
- Trump continued to bully his way around the campaign trail but remained a frontrunner for the Republicans as Hillary Clinton continued to lose favor and lost big in sentiment polls on trustworthiness;
- A TV reporter and cameraman were killed live on TV by a former employee, a horrific story that raised the heat on the gun-control debate while Walmart in an unrelated move stopped the sale of some high-powered rifles in the US;
- New Orleans and the media world marked the 10-year anniversary of Katrina amid apparent careful coverage positioning by NBC following the "misremembering" of Brian Williams of his then on-the-ground reporting; and
- The head of Ashley Madison resigned or as several headlines put it: "put to bed."
- Sete Brasil, a group consisting of some of Brazil's largest financial institutions (BTG Pactual, Bradesco, and others), reached a restructuring agreement with troubled oil company Petrobras worth R$800M over 15 years;
- Santander Mexico appointed Hector Grisi as Executive President and CEO, taking over for Marcos Martinez Gavica, who was promoted to Chairman of the Board; and
- Venezuela is bracing for higher inflation next year with the printing of $500 and possibly $1,000 bolívares-denominated bills expected to be announced at a December 6th legislative hearing.