Open the door to the top executives’ suite and you will hear howls of rage over the backlash these revelations have provoked. There is, from the corporate point of view, something a little disingenuous happening here. After all, countries, states and cities have spent the past several decades openly competing to set the lowest corporate tax rates in an effort to attract business. The fact that multinationals would respond to these incentives and turbocharge them with some international tax arbitrage is about as shocking as the discovery of gambling in Casablanca.
Officials with Virtu Financial LLC, a high-speed trading firm in New York, view a slight head start as good for the overall market, according to a person familiar with their thinking. The person said the data helps traders who buy and sell futures contracts throughout the day manage risk and post more quotes that benefit other buyers and sellers. The person said Virtu doesn’t use the information to amplify its profits by anticipating moves elsewhere in the market.
WSJ.com: High-Speed Traders Exploit Loophole
Seems legit.
If you have learned anything from Jackie Robinson, it is that teammates are always the first to accept. It will be society who has to learn tolerance.
The Village got gentrified. Now it has the quaintness of a stage set in storage. The same thing has happened to similar scenes—Provincetown, Taos, the Hamptons, where Pollock could once afford to live—the difference being that the Village had lasted so very long.
The Entertaining And Cringe-Inducing Ways Urban Outfitters Describes Its Customers To Wall Street
“Our customer is from traditional homes and advantage, but this offers them the benefit of rebellion.” …
“Although they deem themselves worldly, they believe the way they see things personally is the correct way and everyone else feels exactly the same way.”
That I pronounce my name with a soft “a” mean maybe I’ve lost the Midwest accent completely.
Expect airport delays today as sequestration cuts hit
U.S. airports were seeing delays of an hour or more Monday as FAA furloughs began hitting control towers at U.S. airports.
Early Monday, flights were running on time at Chicago’s O’Hare International Airport and Midway Airport, but travelers should expect with delays averaging as much as 50 minutes per flight this week because of fewer air traffic controllers in the tower, according to the Federal Aviation Administration. …
The reason for the slowdown nationwide is that the FAA on Sunday started furloughing some of its almost 15,000 air traffic controllers. The move is in compliance with the 10 percent automatic sequestration cuts that the government put in place for all federal agencies if a budget deal were not reached between Congress and the Obama administration.
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A blog by Andrew Graham, a ghostwriter and media adviser in New York City. Don't take it too seriously.
GMail: andrewgraham.nyc
