A random walk through the world of economics, investing and personal finance.
I will be at the Del Mar Racetrack today for the opening day festivities. I'll be back at it tomorrow.
In the meantime you can debate whether or not the Bancroft family will vote to sell Dow Jones to Rupert Murdoch now that the Board has approved the sale.
Macro Numbers
Real GDP +0.6% in 2008Q1, Comp. Ann. Rate of Chg.
12-Month PCE +3.4% in February 2008, % Chg. Year Ago
12-Month PCE excluding food & energy +2.0% in February 2008, % Chg. Year Ago
Civ. Unemploy. Rate 5.1% in March 2008
IP -0.5% in February 2008, % Chg.
Bonds and Rates
Fed. Funds Rate 2% on
Fed. Funds Rate (effective) 2.21% on
10-Yr. Treas. Rate 3.738% on
ML High Yield Index 10.069% on
10-Yr. TIPS Rate 1.460% on
National 30-Yr Fixed Mortgage Rate 5.8% on
National 30-Yr Fixed Jumbo Mortgage Rate 7.17% on
Foreign Exchange
US/Euro FX Rate 1.5626 on
Japan/US FX Rate 103.76 on
Commodity Prices
Crude Oil 114.63 on
Natural Gas, Oct 10.868 on
Gold 876.4 on
2 comments:
Apparently, the Bancroft family is meeting on Monday to discuss. There's going to be alot of pressure from other shareholders(even though they knew the capital structure of the company when they bought in) to sell. The newspaper business is not growing and this may be the best deal they will get.
My opinion is that they have to sell at this point. They most likely will not get offered more money and they will have bigger problems than Rupert when private equity companies come calling in the future. Any thoughts, Ryan?
Nick-
When Murdoch's offer was first announced I was sure he would have some competition, but I was wrong. No other serious bidders have emerged and it doesn't look like any will.
At this point I would say that odds are this deal will go through . . . but not without a bit more posturing. Monday should be interesting to say the least.
--Ryan
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