Best of the Blogs: What Is Timothy D. Cook Telling Investors?
Minyanville's daily roundup of some of the best financial commentary from around the Web.
Link: Apple Chief Unveils a New Product: Himself
“Timothy D. Cook, Apple’s new chief, showed on Tuesday how he planned to do things differently from his predecessor. Mr. Cook, who long handled the investor relations chores Mr. Jobs avoided, spoke at a Goldman Sachs conference on a wide range of topics, all the while displaying a bit more personality than he has in public presentations in the past. His appearance amounted to his most extensive public comments since he became chief of Apple in August, just weeks before the death of Mr. Jobs.” (Also Read Apple Looks Even Crazier in New Tell-All Book.)
China Real Time Report
Link: How Lucrative? Marketing Jeremy Lin in China
“As if Linsanity weren’t a big enough phenomenon already. The NBA’s hottest basketball player pushed the world’s most captivating sports story to another level Tuesday night, hitting the go-ahead 3-pointer with less than a second left on the clock to propel the New York Knicks to their sixth victory in as many games and prompt a flurry of speculation, even in China, about whether God had eclipsed director Spike Lee as the Knicks’ biggest fan. ‘Amen!’ one Chinese fan wrote in response to Jeremy Lin’s latest heroics on the popular Twitter-like microblogging site Sina Weibo, where Lin now has more than a million followers. “This is God playing basketball.’” (For related content, see Linsanity the Latest Sign Secular Bear Market Is Over.)
Link: Weighing Benefits and Costs of Unemployment Insurance
“As politicians have debated expansions and contractions in the unemployment insurance program, many commentators, as well as reports by the Congressional Budget Office and other government agencies, have asserted that the unemployment program increases aggregate spending, and by that channel even helps people who are not unemployed. However, that proposition has so far been the subject of few direct, empirical investigations.”
Link: Dear Petrol, Back Again
“The last few years have been full of ups and downs for the American economy, but one unpleasant trend has been a constant. Each year since 2008, an economy seemingly regaining its footing after a difficult winter has found itself facing the drag from rising petrol prices. American output switched from contraction to expansion in early 2008, only to sink under the weight of spiking oil prices, which added greatly to the pain of the housing and financial crises. The green shoots of 2009 struggled to sprout amid a more than 50% increase in the cost of a gallon of petrol between January and July. The same pattern played out again in 2010. In February of 2011, private employers added 257,000 workers—the same as they did in January of this year—but the recovery nearly collapsed as unrest in Libya sent petrol prices back above $4 a gallon.” (Also Read Oil Refiners Get A Gift From Iran.)
Link: Europe Still Dominates the Headlines
“The vagaries of Europe’s debt crisis continues to be the most important driver of the short-term price action in the foreign exchange market. Indications that Greek New Democracy leader Samaras would sign a letter of commitment to the aid agreement helped the euro stabilize after the sell-off in response to the postponement of the Eurogroup meeting all the Greek elements weren’t in place. However, it is clear that his rhetoric has been such that the key creditor nations in the euro zone remain skeptical.”
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