At the G7 summit meeting in Bavaria, German Chancellor Angela Merkel says to President Obama, “I knew I’d find you here. My God, man, what do you do all day?” (Photo: Michael Kappeler/AFP – Getty Images)
Bud’s Round-Up of Daily Drivel:
- Tweet no more: Twitter CEO Costolo is done July 1. (NBC)
- No worries, take your time…Obama: “We don’t yet have a complete strategy” against ISIS. (The Hill)
- It was easier playing Cassandra: Meredith Whitney closes her hedge fund. (MarketWatch)
- New Fox Head: Rupert Murdoch will step down as CEO of 21st Century Fox. (CNBC)
- The dismantling of a retail icon: Eddie Lampert destroys Sears one quarter at a time, as same store sales (aka “comps”) drop 14.5%. (Fortune)
- Home-owning 3-headed dog: Hedge fund Cerberus is now among the top ten owners of US homes. (Bloomberg)
- Better red than losing money: Private equity nabob David Bonderman plans to attend Putin’s Economic Forum against White House wishes. (NY Post)
- It should have gone bankrupt: GM could face wire fraud charges over ignition switch recall (we covered the recall here). (WSJ)
- Ma’s gone senile: Alibaba founder Jack Ma, worth over $20 billion, says he was happier making $12 an hour. (South China Morning Post)
- Bad Egg: A Costco egg farm is rotten. (NYT)
- Vapor is rising: One in ten vape. (Time)
- Bringing a bicycle to a stock car race: Obama to send 450 more troops to Iraq. (CNN)
- Cut short: Blade runner/murderer Oscar Pistorius to be released after ten months. (Santa Fe New Mexican)
- Who has the new jobs? Interesting reading. (ZeroHedge)
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