Word: media
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...number does not account for the huge reductions in dividends at most big banks which occurred at the end of last year. Citigroup (C), Wells Fargo (WFC), Bank of America (BAC), and JP Morgan (JPM) have already made cuts or are candidates to do so. Firms in media from The New York Times (NYT) to newspaper chain McClatchy (MNI) are low on income and high on debt. Any company with dwindling cash will be on the list of firms which are likely to need dividend reductions to preserve their balance sheets...
...with the spotlight on, Schapiro is in the prickly position of having to defend her enforcement record. At her hearing, the soft-spoken Schapiro bristled at media reports that she "infrequently" pursued tough action against big Wall Street names, saying the stories painted an "unfair picture." While chief at FINRA, she countered, her team handled 15,000 enforcement cases, including big names like Morgan Stanley, Citigroup, Merrill-Lynch and Lehman. "I have never been afraid to go after people I thought who have violated the public trust...
...Back in November, the New York Post's Page Six, famous for having perhaps the least onerous factual requirements of any media organ outside cyberspace, reported that Vogue editor in chief Anna Wintour might be leaving. That set off a domino chain of reports that are still tipping over three months later. The New York Times weighed in at the turn of the year, opining that Vogue had become "stale and predictable" during Wintour's 20-year reign. Overseas, newspapers and magazines from England to Thailand picked up the tale. Somewhere it acquired the too-good-to-fact-check tidbit...
...course, the press loves to eat its own. But the rumor has been given credence by Vogue's recent issues, which are skinnier than a Slavic model. The January issue has 44% fewer ad pages than the same month last year, according to Media Industry Newsletter. Wintour's detractors have always conceded that she has a firm grasp of the advertising end of the pole - if this is slipping, they ask, could she be in the endgame...
Police have not said exactly who they think is behind the arsons. In the early hours of Sunday, as firefighters were finishing up at the scene of the latest fire, Matthews told local media that the blazes "may in fact be gang-related," but he has not repeated that statement in other news reports. Eggleston refused to confirm the gang connection on Monday, but he did say the fires are clearly the work of more than one arsonist. He wouldn't speculate, though, on whether they were coordinated events or unrelated copycat incidents. "We don't want to divulge...