What we’re reading (2/24)
“Amazon’s ‘James Bond' Deal Could Mean A New Future For 007” (The Week). “This is one transaction that is shaken, not stirred. It was announced on Feb. 20 that a deal had been reached to give control of the ‘James Bond’ film series to Amazon-MGM, likely opening the doors to a whole new future for Hollywood's most legendary spy. The agreement relinquishes control of the ‘Bond’ IP from the longtime stewards of the franchise.”
“The Cryptocurrency Scam That Turned A Small Town Against Itself” (New York Times). “Tucker’s first inkling that something was wrong came from a friend, an investor in the bank who was close to Hanes. A few days before the board meeting, he confided to Tucker that Hanes had messed up: A wire transfer went out, supposedly to help a struggling customer, and now the bank was $30 million in the hole.”
“Unemployment By Degrees” (Business Insider). “[Ron] Sliter is part of a sudden spike in the number of highly educated professionals who are struggling to find a job — any job. According to government data analyzed by the economist Aaron Terrazas, professionals with advanced degrees who are looking for work find themselves stranded on the unemployment line for a median of 18 weeks — a jobless spell that has more than quadrupled over the past two years. And in a strange twist, job searches are now taking more than twice as long for educated elites than they are for workers who never went to college. At the moment, the higher your degree, the longer it will take for you to find a job.”
“Elizabeth Holmes Fails To Overturn Her Theranos Fraud Conviction” (Associated Press). “Elizabeth Holmes, the disgraced founder of Theranos, will remain in prison after losing a bid Monday to overturn her fraud conviction, with a federal appeals court saying she hadn’t proved there were legal missteps during her trial for defrauding investors with false claims of what her blood-testing startup could achieve.”
“The Long Nights And Drug Addiction That Drove A Banker To Insider Trading” (Wall Street Journal). “[John] Femenia was a 28-year-old investment banker working for Wells Fargo WFC -0.28%decrease; red down pointing triangle when he tipped off his friends about confidential deals that the bank was working on. His friends would buy shares of companies that were in line to be acquired, reap the profits when the deals were announced and then kick back some of the gains to Femenia. In two years, Femenia and his friends made more than $11 million trading off of confidential information, prosecutors said. He spent about three years in prison. He says he came up with the scheme while he was abusing Adderall, which he started taking to deal with his long hours at Wells Fargo. The Wall Street Journal reported in December on the widespread use of ADHD medications on Wall Street and the psychological changes it causes in abusers.”
