My mid-week morning train WFH reads:
• Is Rolex a Non-Profit? Answers to Your Burning Questions About the Rolex Watch Company. (Teddy)
• Jerome Powell’s Prized Labor Market Is Back. Can He Keep It? The Federal Reserve chair spent the early pandemic bemoaning the loss of a strong job market. It roared back — and now its fate is in his hands. (New York Times) see also Powell Will Find Much to Love in Retail Sales Letdown: The latest report landed with a mixed reception. But a middling consumption environment is just what the Fed ordered. (Bloomberg)
• Why the Remote-Work Debate Stays So Heated: The conversation often foregrounds large-scale issues such as productivity and company culture, but the question of where an employee works is intensely personal. (The Atlantic)
• From Beatlemania to Taylor-mania: How the meteoric rise of The Beatles helps to explain Taylor Swift’s “Eras” tour, on pace to be the first tour ever to gross $1B. (SatPost by Trung Phan) see also Taylor Swift becomes first woman to have four albums in US: Top 10 at once Singer is just third artist in history to have four albums in top 10 concurrently, with Speak Now (Taylor’s Version) becoming her 12th album to reach No. 1. (The Guardian)
• Vivek Ramaswamy’s investment firm dials back anti-woke rhetoric. The investment firm founded by anti-woke crusader Vivek Ramaswamy is dialing down the very anti-woke rhetoric that made it prominent, hoping to court a wider audience, the firm acknowledged to investors in a letter last month. The firm, Strive Asset Management, is seen “as political over investment oriented,” turning off some investors and limiting its opportunities to grow, according to the letter. (Semafor)
• No Testing, No Inspections: Contaminated Eyedrops Blinded and Killed Americans: How a drugstore staple, made in an Indian factory and tainted with an antibiotic-resistant superbug, slipped past the FDA. (Businessweek)
• Twitter loses nearly half advertising revenue since Elon Musk takeover: Twitter has lost almost half of its advertising revenue since it was bought by Elon Musk for $44bn (£33.6bn) last October, its owner has revealed. He said the company had not seen the increase in sales that had been expected in June, but added that July was a “bit more promising”. Mr Musk sacked about half of Twitter’s 7,500 staff when he took over in 2022 in an effort to cut costs. Rival app Threads now has 150 million users, according to some estimates. (BBC)
• Florida rocked by home insurance crisis: ‘I may have to sell up and move’ Soaring hurricane-cover premiums are bad news for the state’s homeowners – and Ron DeSantis is accused of dragging his feet. (The Guardian)
• The ‘QAnon Shaman’ and other Capitol rioters who regret pleading guilty: A growing number of Capitol rioters have gone back on their guilty pleas and apologies – including one of the most recognisable faces from 6 January. (BBC)
• ‘The Bear’ and the Need for a Place to Belong: In 2023, a very different character is revealing different truths, and the effect is, if anything, even richer and more meaningful. The character is Richie Jerimovich, brilliantly portrayed by Ebon Moss-Bachrach, and the show in which he appears is FX’s “The Bear,” the second season of which was released last month. Episode by episode, Richie opens a window into the souls of so very many of our friends and neighbors. He challenges us. He makes us examine ourselves. He forces us to answer an uncomfortable question: How do we respond to people in pain? (New York Times)
Be sure to check out our Masters in Business next week with Tom Wagner, Co-Portfolio Manager at Knighthead Capital. The $10 billion event-driven is a deep value-focused investor specializing in companies that need financial and operational restructuring. He is a co-investor with football legend Tom Brady in several sports assets, including a Pickleball team, Birmingham City FC in the English Football League, and an endurance auto racing team. Wagner began his career doing hedge fund accounting at Ernst & Young.
Who’s most likely to smoke weed, and is it older NPR listeners?
Source: Washington Post
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