Media Navel Gaze: May 13, 2013
The Week Unpeeled
Bloomberg terminals and the journalists behind them made headlines last week, after an exclusive in The New York Post alleged that reporters were “spying” on customers by looking at what functions were being used and whether they were logging into terminals (prompting calls to Goldman Sachs at one point about whether a partner had left the firm when a terminal had been left idle). The story, which became front-page news over the weekend, Goldman and JP Morgan officials were blasting Bloomberg for snooping over security in using the ubiquitous boxes. The Fed and Treasury are now looking into the issue, so the story will have long legs no doubt.
- The Dow continued its rally, ending at a record close Friday of 15,118, and the S&P 500 another record close of 1,633;
- The Fed said it is planning (timing uncertain) its wind-down its massive bond-buying program, which was designed to stimulate the economy;
- NBC News is expected to name Deborah Turness, the head of ITV News in Britain, as president, the first woman president of a network news division in the US;
- Alan Abelson, a top editor of Barron’s and columnist for “Up and Down Wall Street, died; and
Researchers last week announced that carbon levels have reached their highest levels in “millions of years” on earth, which no doubt will brings more attention to climate change issues.