Word: june
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...readers are invited to submit the perfect quip to accompany the magazine's back-page cartoon. At least 5,000 would-be wordsmiths play the contest each week; of those, three entries are selected by the magazine as finalists, and the winner is chosen in an online vote. On June 1, Wood, a 46-year-old attorney from Chicago, found out he'd captured the weekly contest for a record third time. (Another caption-master has also won three times, though one was under different rules.) Wood spoke to TIME about how to game the contest and how he gets...
...Medill's new graduates, a 31-year-old software developer named Brian Boyer, starts in June as the inaugural "news applications editor" at the Chicago Tribune. In this job, Boyer will be writing applications for the paper's website to accompany investigative reports and present data to readers in formats such as searchable databases and interactive charts. "The forms of journalism might be changing, but the role of the media to inform the public and hold government accountable remains the same," says Boyer, who coined the term "hacker journalist" to describe this new breed of newsman. "That's where technologists...
...stress tests were completed last month, the Treasury Department and regulators gave banks deemed to need capital a month to detail how they would raise it. For the banks that passed the stress test, they were told to report back on how they plan to repay taxpayers. Monday, June 8, was set as the deadline for turning in those plans to regulators. (See 25 people to blame for the financial crisis...
...banks deadline day will pass with little fanfare. Like the stress test before, the month of preparation the banks have had before submitting their capital plans has in general shown that the banking industry is stronger than many thought. Banks were able to raise capital in May and early June with surprising ease. Selling new shares usually makes a company's stock price go down because the earnings-per-share pie gets cut up into more slices. But many of the banks have been able to raise cash and have their stock price continue to rise. J.P. Morgan, for instance...
...that this proposed Chinese investment had become a big political football in Australia - in a manner, indeed, that dwarfed the fireworks in the U.S. when state-owned CNOOC tried to acquire UNOCAL. Opponents of the Australia deal went so far as to sponsor television commercials that actually invoked the June 4, 1989 massacre in Tiananmen Square. A banker close to the Chinalco side of the deal said management there was "deeply disappointed" by some of the rhetoric used by opponents of the deal. In fact, this source says, Chinalco had in many respects "gone to school" on the CNOOC deal...