Today’s readings:
INVESTING & TRADING
• Estimates of economic costs of a flu pandemic (Telegraph) The World Bank estimated in 2008 that a flu pandemic could cost $3 trillion (£2 trillion) and result in a nearly 5pc drop in world gross domestic product. The World Bank has estimated that more than 70m people could die worldwide in a severe pandemic. See also Seeking Lessons From the Past to Fight Flu
• Fed Pushes Citi, BofA to Increase Capital (WSJ)
• J.P. Morgan Is No. 1 Goldman Sachs once ruled the Street. No more. Now the bank to admire—and fear—is Jamie Dimon’s J.P. Morgan Chase. (Portfolio)
• Berkshire’s 31% Decline Spurred by Derivatives Buffett Derided (Bloomberg)
• Can a Rally Last on Diet of Junk? (WSJ)
• Dykstra’s business: a bed of ‘Nails’ (ESPN)
ECONOMY• The Bogus Bank Recovery (Newsweek)
• How libertarian dogma led the Fed astray (FT)
• Treasury Announces New Plan to Aid Mortgage Holders (Bloomberg)
• 32% Say Spending Less Is Their “New Normal” (Gallup)
• GM to pull the plug on Pontiac (Money)
WAR/MEDIA/POLITICS/ENERGY‘
• Sen. Specter To Switch Parties, Democrats Near 60 Vote Majority (Washington Wire)• How ’07 ABC Interview Tilted a Torture Debate (NYT)
• Condé Nast Pulls Plug On Portfolio And Some 80 Jobs; Website’s Odds Of Survival Slim (Paid Content) See also Are magazines doomed, too?
• and just for fun: McGraw-Hill net down 22 pct, FY revenue view cut (ha ha)
TECHNOLOGY & SCIENCE• Is an iPhone on Verizon’s horizon? (GMSV)
• No, not an iPhone: New Gear from Apple and Verizon Wireless? (Business Week)
• Dont forget the vaporware: Microsoft, Verizon in Talks to Launch iPhone Rival (WSJ)
Ahhh, that felt good!
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