October 28, 2015 at 11:17 pm
Here's a bit of good news from the Republican presidential race: at least two of the candidates are talking about President Kennedy as a model.
Senator Cruz, unveiling his plan for a 10 percent flat individual income tax — and no payroll tax — in a Wall Street Journal op-ed piece, writes, "As President Reagan showed—and before him, President Kennedy in the 1960s (average annual growth of 5.3%) and Presidents Harding and Coolidge in the 1920s (4.7% growth)—tax reform is a powerful lever for spurring economic expansion."
Governor Jindal, in last night's debate, said:
October 28, 2015 at 11:26 am
News coverage of the Florida land company St. Joe and fund manager David Einhorn's short of it has been the subject of earlier coverage on this site here, here, here, and here. So it's worth noting just to tie up the loose end that the SEC announced earlier this week a $2.75 million civil penalty on the company. The SEC faulted the company for "improperly accounting for the declining value of its residential real estate developments during the financial crisis. As a result of this misconduct, St. Joe reported materially overstated earnings and assets in 2009 and 2010."
October 27, 2015 at 11:56 am
The Success Academy charter school network has a strong response to coverage by PBS, the Washington Post reports. The PBS ombudsman weighs in here. As the Post's Erik Wemple puts it: "Warning to journalists: If you don't tell the full story, the target of your investigations may feel obliged to do so. And that can be embarrassing."
October 27, 2015 at 11:48 am
Reason's Jim Epstein has an amazing follow-up to that New York Times series about the treatment of workers at nail salons in New York.
October 27, 2015 at 11:40 am
Politico has lively piece about the presidential hopes of Senator Ted Cruz:
October 27, 2015 at 11:29 am
The Washington Post has published an interesting take on Theranos, the clinical laboratory company that is fighting off critical press coverage from the Wall Street Journal:
October 27, 2015 at 11:12 am
Hillary Clinton began her career in Washington as a lawyer on the staff of the House Judiciary Committee working to impeach Richard Nixon. Last week, she was on the receiving end of questioning from the House committee investigating Benghazi. The trajectory is the topic of my column this week. Please check it out at the New York Sun (here), Reason (here), and Newsmax (here).
October 22, 2015 at 10:56 pm
The office of Preet Bharara, the U.S. attorney for the Southern District of New York, released a short statement announcing that it would move to dismiss charges against Michael Steinberg "and six other insider trading defendants."
Bloomberg reports that "In a related move, the Securities and Exchange Commission on Thursday dropped its civil case against five of six cooperators as well as Diamondback Capital and Level Global."
October 22, 2015 at 10:25 pm
Well, that didn't take very long.
One month and one day after the New York Times article about a price increase to $750 a tablet from $13.50 for the drug Daraprim after it was bought by Martin Shkreli's Turing Pharmaceuticals, a competitor has announced it has made available an alternative that sells for "as low as $99.00 for a 100 count bottle, or at a cost of under a dollar per capsule."
From the press release from San Diego, Calif.-based Imprimis Pharmaceuticals:
October 21, 2015 at 10:44 am
"Larry Summers May Have Just Violated Square's pre-IPO Quiet Period" is the headline over an article in Business Insider.
It made me chuckle simply because of the tension inherent in imposing a "quiet period" on the voluble Professor Summers.
But there's a serious point here, which is that if the SEC's regulations are so complex or silly that not even Mr. Summers — a former Treasury secretary and Harvard president and economics professor — can't obey them, maybe they should be rethought. The idea that markets should have less information from a company in the run-up to an initial public offering has always struck me as an error on the scale of the McCain-Feingold campaign finance idea that there should be less leeway to run political campaign commercials in the 60 days prior to an election. These are moments, political and financial, where more speech and information is better, not less.
This would be a good Gordon Crovitz column for Monday's Wall Street Journal.
October 21, 2015 at 10:34 am
The president of Americans for Tax Reform, Grover Norquist, has a lovely interview with Michael Grunwald of Politico in which Mr. Norquist talks about taxes and also spending:
October 20, 2015 at 7:46 pm
Stephen Carter has a good column up at Bloomberg View:
October 20, 2015 at 12:27 pm
The New York Times' decision to hire Robert Rubin to review a new book on the Federal Reserve — and the content of Mr. Rubin's book review — are the topic of my column this week. Please check out the column at the New York Sun (here), Reason (here), and Newsmax (here).
October 20, 2015 at 12:19 pm
The California Department of Motor Vehicles is warning Tesla that its "referral program" offering incentives to help sell cars is against state law, the Sacramento Bee reports:
October 15, 2015 at 9:59 pm
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