Moody’s, S&P and the Great Credit Rating “Wimp Out”
A lot of bloggers who I have a tremendous amount of respect for make the old "What I'm Reading" type of post. I normally prefer to add quite a bit of my own commentary in my blog posts, but I'm a little pressed for time today so I figured that I'd put up a quick "What I'm Reading" for anyone who's interested.
What I'm Reading Today
- Moody’s, S&P and the Great Credit Rating “Wimp Out”
"...the three biggest credit raters, Standard & Poor’s, Moody’s Investors Service and Fitch Ratings are refusing to allow their ratings to be used on new bond deals for fear of being exposed to legal liability via the just enacted financial-overhaul bill."
- Teen wasteland
" So far this month, the average price of an item of clothing sold at teen mainstay Abercrombie & Fitch has tumbled more than 40 percent from last month, according to Brean Murray analyst Eric Beder...
That's an "alarming" rate that doesn't augur well for profits as teen retailers gear up for the crucial back-to-school season, he adds. "Back-to-school is going to be discount-filled and very aggressive in terms of promotions and pricing," Beder told The Post. While industry surveys last week predicted back-to-school sales would rise more than 5 percent, Beder sees only slight increases for teen-apparel retailers, and warns that most gains will be driven by heavy, margin-squeezing discounts. A recent slowdown in demand has surprised many retailers, which had upped their back-to-school inventory bets following brisk but short-lived demand for spring fashions.
- Apple CEO Steve Jobs considered ditching AT&T at least six times
Give the iPhone to Verizon Wireless already!
- Bimbo Bakeries, maker of Thomas' English Muffins, suing worker who knows 'nooks and crannies' secret
Someone stole the nooks and crannies.
- Large Cap Health Care Distributors Creating Wealth
I am currently long McKesson (MCK) and AmerisouceBergen (ABC) in CAPS and Cardinal Health (CAH) in both CAPS and real-life.
- 18th-Century Ship Found at Trade Center Site
- Deep Dark Secret
The blue holes of the Bahamas yield a scientific trove that may even shed light on life beyond Earth. If only they weren’t so dangerous to explore.