Media Navel Gaze: December 8, 2014
The Week Unpeeled
The US employment report, on top of a heap of other positive economic data lately, kept market commentary upbeat and the markets themselves at record levels—again—with non-farm payroll adding some 321,000 jobs in November, helping to make this year the best in job creation in 15 years. The unemployment rate stayed at 5.8%. All combined, holiday sales are expected to be brisk, which should propel the economy well into 2015.
Elsewhere:
- The Dow, flirting with the 18,000 level, closed at 17,958 for the 34th record close of the year;
- James Watson, the Nobel Prize winner who discovered the structure of DNA, sold the medal more than 50 years later for $4.1 million, a sum he is expected to give to charity to help clear his "unperson status" from extremely questionable race statements years ago;
- Uber, amid a financing round of $1.2 billion, was valued at $40 billion, or no doubt #surgevaluations;
- Big buyouts at The New York Times announced with some star bylines like Stuart Ellliot taking a bow;
- Two editors from The New Republic magazine resigned amid shake-up;
- In truly shocking news, Rolling Stone backed off from its rape story at University of Virginia, coverage at the time that dominated the media and coverage this time around that light up social media; and
- Best headline: The Journal story on adult dancers, "Exotic Dancers Win Another Lap in Legal Battle Over Wages."
