Beckham, Cuban, Whole Foods and More
Here is some light weekend reading.
- David Beckham has arrived in LA to try to make footb . . . . I mean soccer, as popular here as in the rest of the world. While this is clearly an uphill battle, I think at least among women he may make some headway.
- Mark Cuban has spoken about buying the Cubs for years, but it looks like he has finally made his move. Unfortunately for him actually landing the team may be an uphill battle. Lets just say his $1.5 million of NBA fines may work against him . . .
- Whole Foods CEO John Mackey bragged about his company for years on the Yahoo Finance message boards. Now the SEC is sniffing around. A word to the wise; never write anything that could some day come around to bite you in the . . . .
- Barry Ritholtz has been angry with the Federal Reserve for using core inflation instead of headline inflation. I think some of his rants make sense. He is also mad at the people who calculate the unemployment rate -- he seems to think the real number is higher than 4.5%. I tend to agree.
- Stephen Schwarzman has found a way to pay much less in taxes from the proceeds of Blackstone's IPO. Which may explain why Hillary Clinton wants Schwarzman to pay a higher tax rate on his carried interest . . . . Is this Hillary's strategy to win over big business? (if you really want to understand carried interest, read this)
- This blog post by Brad Setser explains why I am not worried about the amazing reserve growth of BRIC countries, which he estimates will grow by $800bb this year.
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