Well, maybe we now know why Tim Geithner has been so insistent on getting a debt deal done by August 2 (outside of default and ensuing financial calamity, that is).
The following tweet just came from @BloombergNews
There obviously is a lot of wiggle room in those 61 characters, but let the guessing game begin on his successor. Wouldn't be surprised to see Obama's nominee come from the private sector. Altman? Dimon? MORE
Dan Primack - Jun 30, 2011 3:48 PM ET
Why Greece's bailout may not prevent a Continental credit crisis and another global economic slowdown.
The Greek Parliament approved a tough austerity plan so that the country could get money from the European Union and the International Monetary Fund, including the rest of the bailout hammered out last year and a second aid package. Europe's officials have now spent nearly $270 billion to keep Greece going, signaling that they will spend whatever it MORE
Katie Benner - Jun 30, 2011 1:21 PM ET
Which companies raised the most venture capital over the past three months?
The second quarter is just hours away from ending, which means it's time for the first of what will be many lists. This one is the quarter's largest venture capital deals.
I was fairly liberal in my interpretation of "venture capital," but did try to exclude any money raised for the purpose of founder or early investor liquidity. I also MORE
Dan Primack - Jun 30, 2011 12:53 PM ET
Even if there is no Treasury bond default, the debate is already hurting corporate America, threatening to erase the progress of the past two years.
By Brendan Coffey, contributor
FORTUNE -- Come August 2, the U.S. government will be unable to pay its bond obligations. This simple fact has generated various reactions, from the view that defaulting is a necessary, if bitter, pill to get the country on the right fiscal path, MORE
Jun 30, 2011 11:16 AM ET
A new study shows that investing in a college degree produces better returns than stocks, gold, Treasuries, and even real estate.
FORTUNE -- Unemployed college grad? Living in your parents' basement? Cheer up -- the returns on your investment are coming!
Worth it?
Even in today's very tough job market, a college degree is the best long-term investment – by far, promising higher returns than stocks, bonds, housing, and even gold, according MORE
Nin-Hai Tseng, writer-reporter - Jun 30, 2011 8:30 AM ET
* Me-too IPO: LivingSocial is talking to bankers about going public
* Bethany McLean: Why subprime regulators hunt small game
* Ron Burgundy of Greenwich? Will Ferrell signs on to play a hedge fund manager
* Morning Call: U.S. futures point higher, London rises on job-cutting Lloyds and the Nikkei climbs.
* Buttonwood: Is all the bad news priced in?
* Martin Wolf: Why austerity alone risks a disaster
* Twitter's future: What happens when tech founders leave
* Tracy Alloway: Does MORE
Dan Primack - Jun 30, 2011 7:05 AM ET
Obama's former economic adviser has a new job in Silicon Valley.
Larry Summers was president of Harvard University when Mark Zuckerberg packed up for the West Coast. Now it seems that Summers, who most recently served as director of the White House National Economic Council, also has a similar itch.
Summers has signed on as a special adviser with Andreessen Horowitz, the venture capital firm whose portfolio includes Internet superstars like Facebook, Groupon, MORE
Dan Primack - Jun 29, 2011 6:00 PM ET
Zynga Inc., the San Francisco-based social gaming giant whose titles include FarmVille, was widely expected to file for its IPO today. In fact, some poor saps like me rearranged their entire schedules around it.
But Reuters now says that the S-1 won't actually come until tomorrow morning. No explanation for the minor delay, although my best guess is that it's a paperwork issue. Greece-related turmoil might postpone an actual IPO pricing, but not MORE
Dan Primack - Jun 29, 2011 3:54 PM ET
Not a private equity exec
My next magazine column will be about Mitt Romney, presidential politics and private equity. When I recently mentioned this to someone, he asked: "Why aren't you writing a similar piece about Jon Huntsman?"
It seems my conversant was under the false impression that candidate Jon Huntsman is the same Jon Huntsman who co-founded a $1.1 billion private equity firm called Huntsman Gay Global Capital. But he isn't.
The Jon Huntsman running MORE
Dan Primack - Jun 29, 2011 3:32 PM ET
News Corp. (NWSA) finally managed to dump MySpace today, agreeing to sell the troubled social network to Specific Media for a reported $35 million. Beyond rough, given that the Murdoch men paid $580 million for MySpace back in 2005.
Not surprisingly, the deal has gotten the animation treatment from Taiwanese studio NMA (which released it just before the deal was formally announced). Here you go:
Dan Primack - Jun 29, 2011 2:58 PM ET
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| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 12.26 | -0.47 | -3.73% |
| Bank of America Corp... | 7.25 | -0.05 | -0.68% |
| Frontier Communicati... | 4.23 | -0.24 | -5.46% |
| Juniper Networks Inc... | 21.67 | -0.70 | -3.13% |
| Cisco Systems Inc | 19.55 | -0.28 | -1.41% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,644.45 | -90.18 | -0.71% |
| Nasdaq | 2,808.60 | 3.32 | 0.12% |
| S&P 500 | 1,313.15 | -5.28 | -0.40% |
| Treasuries | 1.92 | -0.01 | -0.36% |
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