What we’re reading (2/3)
“Value Stocks? Growth Stocks? Markets Last Year Turned Everything Topsy-Turvy.” (New York Times). “The new growth stocks, in the estimation of S&P Dow Jones Indices, an influential market analysis firm, now include fossil-fuel energy companies. The world has changed radically in the last year or two, and traditional categories, like growth and value, are topsy-turvy.”
“Unemployment Falls To 3.4%, Lowest In 53 Years, Jobs Report Shows” (Wall Street Journal). “The unexpectedly strong hiring gains raise questions about whether the economy, which had been losing momentum over the past several months, is starting to pick up steam again. If so, that could prompt a more aggressive response by the Federal Reserve as it raises interest rates in an attempt to temper economic growth and bring down inflation.”
“In Boost For Ford And Tesla, Treasury Changes EV Tax Rules Making It Easier To Qualify As An SUV” (CNN Business). “With new rules now in effect for electric vehicle tax credits, that answer could mean thousands of dollars to some car buyers and lots of money to automaker profits. Under the new regulations, car buyers can’t claim tax credits for cars costing more than $55,000. But, for SUVs, the sticker price can be as high as $80,000. Until now, the Treasury Department considered the Mustang Mach-E a car, not an SUV, for purposes of tax credits. Same with the Tesla Model Y, unless it was equipped with a third row of seats.”
“NSA Wooing Thousands Of Laid-Off Big Tech Workers For Spy Agency’s Hiring Spree” (The Washington Times). “The National Security Agency is doggedly courting laid-off Big Tech workers as the spy agency undertakes one of its largest hiring surges in the last 30 years. The NSA began privately reaching out to Big Tech employees over LinkedIn last fall, as word spread that major American companies such as Meta and Amazon were bleeding tens of thousands of skilled workers.”
“Is Meta Actually Making A Comeback?” (Gizmodo). “Zuckerberg made clear he isn’t retreating from the Metaverse, but during the most recent earnings call with investors he appeared to reorient his focus towards solving more near-term business challenges. 2023, Zuckerberg said, would be the ‘Year of Efficiency.’ The CEO jumpstarted that “nimble” efficiency in November by axing around 11,000 of its workers, the largest round of layoffs in Facebook history. Cold-hearted investors clapped.”
