barack-obama

More Drama for Obama, Times Bankruptcy?

cityfile · 05/08/09 12:04PM

• Execs at CBS, NBC, ABC and Fox are supposedly "seething" that the president's three news conferences have cost them $30 million in ad revenue. [THR]
• Is the New York Times Co. heading towards bankruptcy? [E&P]
• More budget cuts at the Star Ledger and San Francisco Chronicle. [E&P, HP]
• The LA Times introduces a new weekly magazine this Sunday. [Folio]
Star Trek is off to a fast start. The pic grossed $7 million last night alone. [EW]
• It looks like television and radio advertising is rebounding a bit. [MLM]
• Former Radar editor Maer Roshan is now the editor of TheWeek.com. [NYP]
The Simpsons got its own series of postage stamps yesterday. [Reuters]

Wall Street: Wednesday Morning

cityfile · 05/06/09 05:44AM

• Bank of America chief Ken Lewis won't be in a good mood today, that's for sure. Regulators have informed the bank that it will have to come up with $34 billion in new capital if it expects to weather the downturn. [WSJ, NYT]
• For its part, Citigroup may have to come up with $5-$10 billion. [Reuters]
• Remember all the outrage that followed the disclosure that AIG had paid out more than $100 million in bonuses? It seems the bonus pool was four times larger than previously anticipated. Oh, well. [NYP]
• Companies cut an estimated 491,000 workers in April, which is less than previous months and possibly a sign that the worst is over. [BN]

Michelle Obama Is Bound For NYC

cityfile · 05/05/09 08:16AM

Michelle Obama will be in New York this evening to attend—and speak at—the glitzy party celebrating Time's list of the 100 most influential people. As the name implies, there are precisely 98 people in addition to president and first lady who made the cut. But leave it to some AP reporter to make it sound like earning a spot on the list is a really, really bad thing: "Among those who made the list: the First Lady, Michelle Obama; her husband, President Barack Obama; and Bernard Madoff, the disgraced New York money manager who has admitted to stealing tens of billions of dollars from investors." [AP]

Wall Street: Monday Morning

cityfile · 05/04/09 05:40AM

• President Obama will propose new laws today to crack down on companies and wealthy individuals who use a variety of tax loopholes to move their assets offshore and avoid paying taxes. [WSJ, BN]
• Citigroup and Bank of America are both rumored to be working on plans to raise more than $10 billion in fresh capital a piece, although Bank of America is now denying that such a plan is underway. [FT, DB, BI]
• Questions are being raised about New York Fed chairman Stephen Friedman's ties to Goldman Sachs and possible conflicts of interest. [WSJ]

Barack Obama Wants You to Take a Loyalty Oath

John Cook · 05/01/09 12:52PM

Did you know that today is "Loyalty Day"? It is. And Barack Hussein Obama has issued a proclamation, or "fatwa," making it illegal to disobey him. Rise up, people!