“Black Saturday” doesn’t have much of a ring to it, does it? Josh Reviews Everything
Pay Cap Debate: They Don’t Go Far Enough . . .Lucien Bebchuk, Wall Street Journal
CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam ABC (hat tip reader Tim). This would be vastly amusing, but we probably won’t get names. Darn.
Jobs Report: It’s Worse Than It Looks Dean Baker. Thank our old friend, the birth/death model.
Dry bulk freight surge ‘could be shortlived’ Lloyd’s List (hat tip reader Michael)
China’s official figures obscure sharp decline Associated Press (hat tip reader Michael)
Gaza offensive boosted Hamas, poll concludes Financial Times
Mitsui Is Accused of Bias Against Non-Asian Employees Bloomberg. I’m not current on Japanese hiring practices, but in the 1980s, they were discriminatory on their face. Foreigners were “local staff” and had no opportunity to be promoted above a certain level (I was the first Westerner hired into the Japanese hierarchy and was roughed up accordingly). And per the complaint, the Japanese had considerable latitude on expenses (one guy in the branch was known to expense hookers; I think he ran them through his car service).
Insurers’ Finances Clouded by Bookkeeping Changes Washington Post
Verizon Math Fail Barry Ritholtz. Unbelievable.
Contraction, not tightening David Altig, Macroblog
Nationalized Banks Are “Only Answer,” Economist Stiglitz Says Deutsche Welle (hat tip Angry Bear)
Antidote du jour (hat tip reader Shnaps):