From the Loony Bin: Angela and Barry Share a Moment, Etc…

Merkel and Obama

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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