It’s Greenspan’s Fault!
The Dow Jones Industrial Average fell more than 400 points yesterday, or 3.3 percent. Did you hear? Of course you did. But what was lost amid the hysterical headlines and panic selling — and this is kind of what defines panic selling — was any overarching reason for the sellers to be selling. Was it China? Proximately, yes, because it was Tuesday’s 9 percent decline in Shanghai that got the ball rolling. Was it the weaker-than-expected drop in U.S. durable goods orders, a leading indicator for U.S. consumption? Might have been that, too, because the trading community has been on tenterhooks for weeks, nervously awaiting something, anything, that would snap the markets out of their hypnotic complacency. But we prefer to think it had more to do with the man whose mouth could move mountains in the nineties: former Federal Reserve chairman Alan Greenspan….
It’s Greenspan’s Fault!
Celebrity Restaurateurs: They Get Slow Service Just Like Us!
When Drew Nieporent — the man behind Nobu, Montrachet, and Tribeca Grill — is at the table next to you, it would seem worth following his lead. And so when we noticed him beside us (thanks, Times Magazine!) for brunch at Geoffrey Zakarian’s Café at Country yesterday, we realized we were listening to our neighbors’ conversation a little more closely than would normally be polite. He ordered the tartare of beef, and therefore so did we…..
Wealthy Objectivists to Hit Road for Conrad Black
Road trip! Anyone who thinks fallen press-baron Conrad Black is getting a raw deal at the hands of U.S. District Attorney Patrick Fitzgerald now has a chance to kibbutz with like-minded souls — as part of a Toronto-Chicago chartered flight (naturally) that will carry supporters to Black’s trial in Chicago on March 13….
Seems Like Old Times: Press Loves Dumb But ‘Edgy’ Website
Maybe you saw Friday’s gauzy New York Times profile of Wallstrip, a daily video podcast about the stock market. Or perhaps you saw last Monday’s similarly enthusiastic BusinessWeek piece. And perhaps you were intrigued. Investment news with a YouTube sensibility, you thought, how hip and fun! You’re not the only one: The site supposedly draws 10,000 viewers every day, and it boasts a “fetching” host in Lindsay Campbell, an actress happy to ride a Harley for one piece or frolic with pigs for another. To all of which we say: Congratulations…..