What we’re reading (4/3)
“Fed’s Powell Emphasizes Need For More Evidence That Inflation Is Easing Before Cutting Rates” (CNBC). “Federal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain…‘On inflation, it is too soon to say whether the recent readings represent more than just a bump,’ Powell said in remarks ahead of a question-and-answer session at Stanford University.”
“What’s Happening With The Famed Tiger Hedge Funds?” (Institutional Investor). “The famed Tiger hedge fund crowd may be losing its cachet. Despite posting strong gains in 2023, several of the most high-profile firms continued to see their total assets decline last year, or at a slower rate than their recent performance would indicate.”
“The Dismantling Of GE, Once America’s Iconic ‘Everything Company,’ Is Now Complete” (CNN Business). “With Tuesday’s split into two companies, the break up of the once mighty industrial icon is complete. The company was founded by Thomas Edison in 1892 and built into the world’s largest and most valuable company by the once legendary, but now oft-criticized CEO Jack Welch. But, during this century, the company became a struggling, bloated conglomerate, weighed down by poorly timed deals that left it with unaffordable levels of debt.”
“Paramount Enters Exclusive Merger Talks With Skydance, Spurning $26 Billion Offer From Apollo” (Wall Street Journal). “Members of Paramount Global’s board agreed to enter exclusive merger discussions with Skydance, favoring it over a recent $26 billion all-cash offer from private-equity firm Apollo Global Management. The move means the entertainment conglomerate is putting on pause any conversations with other bidders for 30 days while it tries to work out a deal with Skydance, a production company led by David Ellison, people familiar with the matter said.”
“What Makes Housing So Expensive?” (Construction Physics). “People concerned about building more housing are right to pay attention to zoning and land use rules: over 100 million Americans live in places where most of the cost of residential property comes from the land itself. But they should not neglect the physical costs of building homes, which are overall more important. Unfortunately, as we’ll see, reducing these physical costs is far from straightforward.”
