Events

Despite tons of research that support the anthropomorphic climate change theory, some people persist in the belief that the data does not support it. And yet, this week, there's more data: [A] new study of current data and analysis by Berkeley Earth Surface Temperature...estimates that over the past 50 years the land surface warmed by 0.911°C: a mere 2% less than NOAA’s estimate. That is despite its use of a novel methodology—designed, at least in part, to address the concerns of what its head, Richard...

A British plastic surgeon recently announced his findings after a months-long investigation of a particularly British institution: It sounds almost like parody – a top consultant plastic surgeon spends three months studying models appearing on Page 3 of a bestselling British red-top newspaper. Later this month he reveals his findings: the mathematical proportions of the perfect breast. This year [Patrick Mallucci, Consultant Plastic Surgeon at University College London and the Royal Free Hospitals,]...

Yesterday the Tribune reported on Groupon scaling back their IPO, from which they had hoped to raise the equivalent of Norway's GDP. Today's Economist has more: Groupon created a new market. This is a boon to consumers, but confers no lasting “first-mover” advantage on Groupon. Its business model is unpatentable and simple to replicate, so there are already more than 20 copycats. Groupon aspires to be global, but the markets it serves are intensely local. Internet selling is best suited to “experience...

The Tribune is reporting that Groupon, one of several thousand companies that strikes deals with vendors, has scaled back its IPO: The size of the sale, expected to be completed in the next two weeks, could be $500 million to $700 million under plans to be disclosed in advance of the company's roadshow beginning in the next few days, the people said. The size is meant to cut the amount of stock being sold at what may be a knock-down valuation, in hopes that more shares can be sold later at higher...

Series finale

Series finale

I can't think for a moment what those odd folks at #OWS are protesting. It couldn't be crap like this, could it? Buoyed by one-time gains from accounting changes and the sale of assets, Bank of America reported a $6.23 billion profit for the third-quarter Tuesday, even as weakness on Wall Street hammered underlying results and the firm surrendered its position as the country’s largest bank by assets. The other major commercial banks that have reported earnings in recent days posted profits of around $4...

Paul Krugman once again points out the obvious and straight line between policy choices and the economy today: [T]he financialization of America wasn’t dictated by the invisible hand of the market. What caused the financial industry to grow much faster than the rest of the economy starting around 1980 was a series of deliberate policy choices, in particular a process of deregulation that continued right up to the eve of the 2008 crisis. Not coincidentally, the era of an ever-growing financial industry...