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Proctor & Gamble Concedes Proxy Fight, Names Nelson Peltz To Board

Two months after narrowly losing a proxy vote that would have granted him a seat on Proctor & Gamble’s board, Trian’s Nelson Peltz has somehow managed to win a crucial battle in the largest and most expensive corporate proxy battle in modern history. To wit, the consumer-products giant announced Friday that it would add Peltz […]


The “Missing Slide”: JPM Credit Card Charge-Offs Just Shy Of Four Year Highs

While JPM was quick to provide all the favorable data in its earnings presentation (and not so favorable when it comes to the unexpectedly sharp, 27% drop in its fixed income revenues) one thing was conspicuously missing: the slide on "Mortgage Banking And Card Services" which has traditionally been part of the bank's earnings presentation […]


P&G Stock Slumps As Peltz Loses Proxy Fight; Trian Demands Recount

Procter & Gamble stock price is sliding, down over 2%, following news that Trian’s Nelson Peltz has lost his fight to be elected to the board. The largest and most expensive corporate proxy battle came to an end Tuesday with Procter & Gamble successfully fending off a campaign by the financier Nelson Peltz for a […]


Ralph Nader: How CEO Stock Buybacks Parasitize The Economy

Authored by Ralph Nader via Evonomics.com, The monster of economic waste – over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations – started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald Reagan. That was when SEC Chairman John Shad, […]


Google Is Using Hot Air Balloons To Restore Cell Service In Puerto Rico

While Elon Musk is pretending that he can rebuild Puerto Rico’s power grid with solar-powered batteries, Google wants to deliver cell phone service using balloons. Alphabet Inc., Google’s corporate parent, received permission on Friday from the FCC to begin providing emergency cellular service to hurricane-ravaged Puerto Rico using balloons. The effort appears to be a […]


Musk Is Sending A “Powerwall Team” To Puerto Rico To Restore Electricity

Update: Tesla's Musk confirms he is sending an "experience powerwall team" to Puerto Rico to investigate reports of price gouging and oversee installations of Tesla's "Powerwall" home battery – a product that was initially develoepd by Solar City. Tesla always charges the same price for a Powerwall (only taxes & shipping costs vary), so something […]


Look Who Kalanick Just Appointed To The Uber Board Without Consulting Anyone

It looks like Travis Kalanick is preparing for all-out war in the Uber boardroom. The Uber co-founder and former chief executive officer – who retains control over three board seats, including his own – has finally filled his long-vacant seats. And guess whom he picked to fill them? Former Xerox Corp. Chairwoman and CEO Ursula […]


US “Evaluating Shuttering Cuba Embassy” After Unexplained Sonic Attacks, Tillerson Says

With the total number of Americans affected by a potential ‘sonic attack’ in Cuba now reaching 21, US Secretary of State Rex Tillerson says the Trump administration is considering closing down the U.S. Embassy in Havana following unexplained incidents harming the health of American diplomats. As one former CIA official says: “It’s just mystery after […]


Disney Tumbles After Bob Iger Cuts Outlook

Once upon a time, Disney used to be the hedge fund world’s media darling. Not today, however, when at the BofA Media Communications Conference in New York, Disney CEO Bob Iger slashed the company’s outlook and said earnings in 2017 will be “roughly in line” with last year, sending the stock tumbling as much as […]


“Eye Of The Storm” – Why Investors Are Still Too Complacent About North Korea

While the storm over North Korea may appear to have passed, Bloomberg FX strategist David Finnerty warns that it’s possible we’re only in its eye. Investors may want to think twice before jumping back into risk assets… The good news is that it appears North Korea has, at least temporarily, backed down from plans to […]