What we’re reading (8/4)
“Kodan Loan Disclosure and Stock Surge Under SEC Investigation” (Wall Street Journal). Eastman Kodak (allegedly!) shared news about an agreement with the Trump administration to make drugs at its U.S. factories with media outlets before the announcing it publicly. Apparently, some options had been granted to executives that very day.
“It’s Past Time The Tax Code Faced The New Home-Office Reality” (New York Post). “The American home is no longer just a place for family and leisure, but also a place of business.” Hear, hear!
“Former Uber Self-Driving Car Exec Sentenced To 18 Months In Prison” (CNN Business). A salient tale of trade secrets theft in the Valley’s notoriously hot labor market.
“Square Stock Is Soaring After Its Earnings Results Were Leaked A Day Early. What You Need To Know” (Barron’s). Two prongs to this story: (1) someone external to Square had accessed the company’s quarterly results early, forcing the company to release the results publicly ahead of schedule, and (2) those results included Square saying “that it had seen a July recovery in the gross amount of cash its retailer clients were moving across its payment networks.” #2 seems to bode well for the recovery. #1 seems to bode poorly for capitalism in general and society writ large.
“The Fed Is Expected To Make A Major Commitment To Ramping Up Inflation Soon” (CNBC). As they say, don’t fight the Fed.
