Media Navel Gaze: June 22, 2015
The Week Unpeeled
A reflective week of news in the US focused on the Charleston shooting at the Emanuel AME church, where nine black parishioners died at the gun of Dylann Roof, a 21-year-old white man who has been charged with nine counts of murder and one of possession of a firearm (amid calls for the death penalty). Jon Stewart's somber remarks on The Daily Show, which was widely shared, was one of the most discussed pieces because of its out-of-character no-jokes tone; President Obama said he refuses to act as if this were "the new normal"; and Mitt Romney—somewhat surprisingly—and others called for the Confederate flag to be taken down in the South Caroline capitol. The church was planning to reopen Sunday.
- The EU/Greece talks seem to be in either a stalemate or tailspin ahead of the country's potential default on an IMF loan repayment at the end of the month as Greeks begin making heavy withdrawals from banks;
- The Pope issued a widely awaited and shared (a little too early with a well-published who-dunnit leak) encyclical on the environment ("On Care for Our Common Home") that supported scientist claims (big kudos) but came down on some market practices (carbon credits, for example) that did not make everyone happy;
- The Fed said rate hike kinda likely near year end (this is the slowest slow jam ever);
- That was blamed in part for a slip in the markets late that capped strong gains earlier with the Dow up just 0.7 percent for the week to close Friday at 18,015;
- NBC downsized Brian Williams to a cable guy (is that a downsize in today's market) to MSNBC in a new role as a "breaking news" anchor (isn't that what they are supposed to be anyway?) and Lester Holt will retain the interim chair as NBC Nightly News anchor (way warm welcome by many on Twitter);
- Jimmy Lee, the JP Morgan's banker's banker, unexpectedly died and tributes poured in from around Wall Street with full-page tributes in the nationals;
- Martha Stewart is selling her media and housewares company to Sequential Brands and "isn't that nice";
- Golden State Warriors and Chicago Blackhawks happened; and
- Cristiano Ronaldo gets a galaxy named after him called CR7, changing the definition of sports star.
- Brazilian conglomerate Odebrecht had its debt downgraded by Moody's to Baa3 following an increase in perceptual risk after the Petrobras fallout
- Brazil's globally-renowned "rodizio", aka steakhouse, Fogo de Chão, sizzled in its US-based IPO (NASDAQ: FOGO) this week, trading up 30% on its first day to $25.75 per share.
Competitive rivalries be gone. Watch this Jamaican national team soccer player take a selfie with Argentine star Lionel Messi after Messi's squad beat Jamaica in the Copa América, Latin America's major soccer tournament, 1x0.