What we’re reading (8/13)
“What Wall Street’s Top Recession Gauge Is Saying Now” (Wall Street Journal). “Wall Street is growing confident the U.S. can avoid a recession. But one key market indicator is still sending seemingly bleak signals. Right now, yields on longer-term U.S. Treasurys remain far below those of shorter-term bonds, an anomaly known as an inverted yield curve that has earned fame as a harbinger of downturns.”
“Inflation May Be Cooling — But Drivers Can’t Seem To Catch A Break” (CNN Business). “It will cost you 19.5% more to repair your car now than it did a year ago, according to July’s Consumer Price Index report, released Thursday by the Bureau of Labor Statistics. Another hefty expense is car insurance, up 17.8% from a year ago. Car repairs and car insurance were the second- and third-largest annual price increases, respectively, tracked by the CPI.”
“The Frothy Saga Of The Jacuzzi Family” (New York Times). “Candido Jacuzzi didn’t set out to turn his last name into a global brand. Nor did he intend to power a business which, though it created the family fortune, nearly tore them apart. He just wanted to ease the physical pain suffered by his son, any way he could.”
“Wall Street predators Destroyed Toys ‘R’ Us. Now They’re Coming For Simon & Schuster” (Los Angeles Times). “The venerable publishing house Simon & Schuster will soon be owned by one of the nation’s biggest private equity firms, KKR. For a glimpse of their future — and tips on how to fight back — Simon & Schuster authors and employees might want to chat with the former workers of Toys ‘R’ Us. There are 33,000 of them, and their company was driven into bankruptcy five years ago by a clutch of Wall Street firms led by KKR.”
“A Former Executive Says He Was Fired By Salesforce After Raising Concerns About Software Said To Process And Organize Customer Data In Milliseconds: ‘It Was All A Lie.’” (Insider). “An ex-Salesforce vice president is suing his former employer, claiming the company lied about its software capabilities and retaliated against him for raising concerns about the product claims, court documents show.”
