DISPATCHES FROM THE CADDYSHACK NEWS NETWORK: CNN Whines About Truck Blocking Golf Course [VIDEO]. T…
DISPATCHES FROM THE CADDYSHACK NEWS NETWORK: CNN Whines About Truck Blocking Golf Course [VIDEO]. The Secret Service and the Palm Beach Sheriff’s Office both denied responsibility for the truck, causing CNN to launch into full-on conspiracy theory mode. “Today this truck showed up out of nowhere and actually moved at one point when our journalists […]
Carson Jimi Filipovski/Unsplash The great business remix of the last three years shows no sign of abating. Deep changes in technology and globalization that started in the 1990s continue to up-end how we live and work. They have forced firms to reshuffle the cards they hold and remix the ownership of assets in the economy. This was the third year in a row with more than 50,000 M&A deals announced worldwide according to Thomson Reuters — a record run. Prior to this, only 2007-2008 saw this many annual deals, and before that the single-year peak of 2000 saw “just” over 40,000 deals. In the last eleven years, we have seen over 500,000 M&A deals – more than in any such period in recent history. (We don’t have good data for the early 20th century, when another massive remix of assets took place.) What do the most remarkable deals of 2017 tell us about this remix and its effects on our daily lives? Our health. The $68 billion CVS-Aetna deal still puzzles shareholders and consumers – what will its effects be on our healthcare system? It is clearly part of the larger asset remix that started several years ago with deals in biopharma, such as Sanofi-Genzyme (2011), Novartis-GSK (2014), and a couple of failed attempts by Pfizer to merge and move its headquarters abroad. Then the insurance companies attempted to consolidate, and were blocked by the antitrust authorities. Hospitals, too, are merging horizontally when they can, as did pharmacy retailers. That left CVS and Aetna to break new ground with a vertical merger. The next few years will teach us about the effects of this new kind of asset remix. What we watch. The remix in media took a similar path. It too started with horizontal mergers being maxed out. AT&T was blocked from acquiring T-Mobile back in 2011 and Sprint and T-Mobile talked but couldn’t get a deal done this year. But AT&T hasn’t lost the urge to merge. Their $85B bid for Time Warner announced last year is another vertical merger, which the Justice Department decided this year to test in the courts. Disney’s proposed acquisition of 21st Century Fox’s entertainment assets is partly a classic horizontal consolidation, though it is more complex than that. An interesting angle to watch is what will happen to Hulu, the online competitor to Netflix that would become majority-controlled by Disney. That battle will be joined next year. How we buy. The remix in healthcare and in media has been partly driven by threats from the likes of Netflix and Amazon – the “e-commerce” disruption that dates to the early 2000s. The efficiencies of online business have continued to fell the old giants of retailing. But the battle of bricks vs. clicks has taken a new turn – partnerships and mergers between the two sides. Amazon’s $13B acquisition of Whole Foods was the most visible deal in 2017 for most of us, but our pets may have noticed PetSmart’s $3.4B acquisition of Chewy.com. And Walmart’s 2016 acquisition Jet.com seems to be yielding fruit – meaning we will be buying more and more online. The machines that run our world. The tech world itself is also being remixed, and it started early in this merger cycle. The $67B merger of Dell and EMC and the $26 billion merger of Microsoft and LinkedIn both closed last year and are being implemented now. Apple, Facebook, and Google were quiet this year on the acquisition front (perhaps they have become big enough), beyond making fake merger news headlines. Still, there are pockets of tech that remain ripe for consolidation, according to Broadcom, which made a $105 billion hostile bid for Qualcomm, to the chagrin of Google and Microsoft, who fear Apple is behind this. Yes, the mighty tech gods are fighting for control of the machines that run our world. How we move. Tech deals are also changing the way we move from one place to another. The remix of this sector, too, started early on, with automotive and airline mergers in the late 1990s and then again around the great recession. Here, too, horizontal mergers reached their max, so that players turned to partnerships short of full mergers, such Star Alliance, which celebrated its 20th anniversary this year. But tech is disrupting even this newly restructured industry, as automobiles become computers on wheels. Intel’s $15 billion acquisition this year of MobileEye was not only the largest sale of an Israeli startup, but also a signal that the heart of tech is going on the road. How we make things. The remix of industrial conglomerates almost feels like an afterthought – we are used to seeing large companies continually reshuffle their assets. The biggest speculation here is whether General Electric, under a new boss, will break itself up. But what happened this year in chemicals is real, not speculation. Dow and Dupont closed their $156 billion merger of equals this year, and still promise to break up the new conglomerate into at least three pieces. The agribusiness side of this merger was in part a reaction to Bayer’s $66 billion acquisition of Monsanto and SinoChem’s $43 billion acquisition of Syngenta, both of which closed this year; SinoChem in turn is poised to merge with ChemChina. So, yes, regardless of the flash of tech, the old core of the economy still exists, and it is getting more concentrated and more global. Who owns whose assets. The global remix is not new at all. It has been going on for decades, led by the American multinational companies that first conquered foreign markets in the 1950s and 1960s. The direction of this investment flow has been shifting, as foreign companies invest in the United States. The 2015 merger of Kraft and Heinz was led by Brazil’s hard driving 3G Capital, which was also behind the $100 billion merger in 2016 of Anheuser Busch and Miller. But international mergers are not without resistance, as PPG found this year in its failed bid for Akzo Nobel, and as the Chinese government pulled up barriers this year to acquisitions abroad by Chinese firms. These are the most remarkable deals that came to a head in 2017 — the high notes in the ongoing business remix that is reshaping how we live.
The Zacks Analyst Blog Highlights: Verizon Communications, AT&T, Comcast, DISH Network and T-Mobile US
The Zacks Analyst Blog Highlights: Verizon Communications, AT&T, Comcast, DISH Network and T-Mobile US
Charter Communications (CHTR) expects to witness growth on the back of wireless venture, field trials for the 5G wireless network and rollout of several initiatives.
Upcoming fifth-generation (5G) superfast wireless networks will provide the primary impetus to the telecom industry in 2018.
Дата, до которой Time Warner и AT&T планируют завершить слияние, перенесена на 21 июня 2018 года из-за того, что министерство юстиции США обратилось в суд с требованием заблокировать сделку, сообщили компании.
The FCC is just ditched longstanding regulations that keep ISPs from treating online content unequally. Here's how that change could hit your pocketbook.
AT&T stock has managed to claw back after it hit its lowest levels in almost two years last month. The stock price still is down almost 10% so far this year, more than offsetting the benefit of the 5%+ dividend yield. The Time Warner Inc (NYSE:TWX) merger is up in the air.
Former Trump campaign adviser Carter Page's unorthodox effort to insert himself into a giant telecommunications merger has landed with a resounding thud in court.The judge overseeing the Justice Department's lawsuit to block the $85 billion AT&T-Time Warner deal denied a request from Page, who is not a lawyer, to file a friend-of-the-court brief in the case.Judge Richard Leon signed and entered the decision on Wednesday, after the DOJ took the unusual step of opposing the filing."As a general matter, the Antitrust Division does not oppose amicus briefs in the district courts," DOJ attorney Craig Conrath told the court. "We note, however, that Dr. Page’s submission does not appear to be meaningfully relevant to the issues in this case."Page argued in the proposed brief that consolidation between telecommunications and media companies "encourages extreme levels of journalistic recklessness and impropriety because it allocates considerable resources to the media outlets under their control."He told the court that a separate libel suit he brought against Verizon's Oath, which owns Yahoo News and HuffPost, gave him an important and relevant perspective on the AT&T-Time Warner merger.Page said he's "not disappointed at all" by the court's decision, adding "it took many years to develop the current detrimental oligopolistic market structures. So figuring out appropriate repairs in the wake of that damage will inevitably take some time."
President Donald Trump on Wednesday praised AT&T’s plan to award employees a $1,000 bonus once the Republican tax bill is signed into law, a move that comes as the company continues to push for government approval of its merger with Time Warner.“This just came out. … AT&T plans to increase U.S. capital spending $1 billion and provide $1,000 special bonus to more than 200,000 U.S. employees, and that’s because of what we did,” Trump said during remarks at the White House, alongside GOP congressional leaders, after passage of the party's tax legislation.He added: “That’s pretty good. That’s pretty good.”AT&T chairman and CEO Randall Stephenson announced Wednesday that the company would increase its capital expenditures budget in the U.S. by $1 billion once the bill is approved by the president. Stephenson added that their employees would also receive a $1,000 individual bonus, which be awarded over the holidays if the law were signed by Christmas.“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” Stephenson said in a statement. “This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.”Though Trump and congressional leaders have framed the tax legislation as a “Christmas gift” to American families, the president may hold off on signing it until early January.The move by AT&T comes as the company continues to lobby the Justice Department to approve its proposed $85 billion merger with Time Warner, a deal that the Trump administration has stalled over antitrust concerns.In November, the Trump administration sued to block the mega-merger, raising concerns that the department was using the review to force the sale of CNN, a frequent media target of the president.As a candidate, Trump vowed to block the deal, saying in October 2016 that the merger would place “too much concentration of power in the hands of too few.”The president’s remarks came following the final passage of the Republican tax bill through the Senate and House.Flanked by Vice President Mike Pence, Senate Majority Leader Mitch McConnell, House Speaker Paul Ryan and other Republican lawmakers, party leaders touted the legislation as one of the president's crowning achievements in his first year in office during an address at the White House.
AT&T Warms To Trump, Will Give $1,000 Bonus To 200,000 Workers, Boost CapEx After Tax Cut Becomes Law
With the relationship between AT&T (and Time Warner) and the Trump administration on the rocks, as the DOJ is now suing to break up the merger which just happens to include Trump's media nemesis CNN, it appears that AT&T is offering an olive branch to the president, as well as a little backdoor bribe to improve sentiment, and moments ago announced that once tax reform - i.e., Trump's signature act to date - is signed into law, AT&T will not only invest an additional $1 billion in CapEx in the US in 2018, but also pay a "special bonus" of $1,000 to its more than 200,000 U.S. employees, "all union-represented, non-management and front-line managers." And, to push Trump to sign the bill into law in the next hours instead of waiting for January, AT&T said that "if the President signs the bill before Christmas, employees will receive the bonus over the holidays." In a surprisingly polite address to the president, AT&T CEO Randall Stephenson said that “Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,”and added that “this tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.” AT&T was also quick to note that "since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows." The timing of the announcement is not surprising for another reason: earlier this week we reported that AT&T and Time Warner failed to settle acquisition talks with the DOJ. As a result, AT&T will be forced to challenge the DOJ verdict in court, a step it would much rather avoid since a court ruling is unlikely to come before May 2018. Notably, both the companies have resettled the closing date for the deal at Apr 20, 2018. A trial to decide the matter is set to begin on Mar 19, 2018 and run for about 15 days, according to the filing. AT&T's growth in 2018 will largely depend on the court ruling on the Time Warner merger deal. If the court ruling goes against AT&T, three options will be available: either scrapping the deal, divesting its DIRECTV division, or acquiring Time Warner without the Turner Broadcasting assets including CNN. Now if only the DOJ will notice our kind gesture and nice words addressed at Trump and Congress, and please drop the merger lawsuit, all would be great.
AT&T says it will pay a $1,000 bonus to more than 200,000 US employees after the Republican tax bill is enacted. Meanwhile, AT&T has feuded with the Trump administration over its bid to acquire Time Warner, and the Department of Justice has sued to block the deal. AT&T says it will pay a $1,000 bonus to more than 200,000 US employees after the GOP tax bill is enacted — an announcement sure to please Republican lawmakers who have been pitching corporate tax cuts as a boost for American workers.
Last week was pretty eventful for the telecom industry.
Big tech firms have gone from pushing for open-internet protections to being powerful enough not to need them.
AT&T Inc. (T) will challenge the DOJ verdict regarding Time Warner Inc. (TWX) merger deal in court.
The president contends that Disney-Fox “could be a great thing for jobs” but that AT&T-Time Warner is “not good for the country.”
Walt Disney's (DIS) Star Wars: The Last Jedi is a runaway success, garnering nearly $450 million in the opening weekend.
Was the asset sale, Murdoch's way of acknowledging that he's largely quitting the entertainment side of things?
Оригинал взят у tiina в «Человек года» все обложки журнала Time за последние 90 летС 1927 года журнал Time в каждом декабрьском номере называет «Человека года», повлиявшего на мир лучшим или худшим образом. Первым был Чарльз Линдберг, лётчик, в одиночку перелетевший Атлантику, а в нынешнем году – американский президент Дональд Трамп. Предлагаем взглянуть на все 90 обложек Time, интересных не только помещёнными на них знаменитыми личностями, но и тем, каким образом их изобразили.1927: Чарльз Линдберг1928: Уолтер Крайслер1929: Оуэн Юнг1930: Махатма Ганди1931: Пьер Лаваль1932: Франклин Рузвельт1933: Хью Джонсон1934: Президент Франклин Рузвельт1935: Хайле Селассие1936: Уоллис Симпсон1937: Чан Кайши и Сун Мэйлин1938: Адольф Гитлер1939: Иосиф Виссарионович Сталин1940: Уинстон Черчилль1941: Президент Франклин Рузвельт1942: Иосиф Виссарионович Сталин1943: Джордж Маршалл1944: Дуайт Дэвид Эйзенхауэр1945: Президент Гарри Трумэн1946: Джеймс Фрэнсис Бирнс1947: Джордж Маршалл1948: Президент Гарри Трумэн1949: Уинстон Черчилль1950: Американский солдат1951: Мохаммед Моссадех1952: Королева Елизавета II1953: Конрад Аденауэр1954: Джон Фостер Даллес1955: Харлоу Куртис1956: Борец за свободу Венгрии1957: Никита Сергеевич Хрущёв1958: Шарль де Голль1959: Президент Дуайт Дэвид Эйзенхауэр1960: Американские ученые1961: Президент Джон Кеннеди1962: Римский папа Иоанн XXIII1963: Мартин Лютер Кинг1964: Линдон Бэйнс Джонсон1965: Уильям Уэстморленд1966: Мужчины и женщины в возрасте до 25 лет1967: Президент Линдон Бэйнс Джонсон1968: Аполлон 8 Уильям Андерс, Фрэнк Борман, Джеймс Ловелл1969: Средний класс американцев1970: Вилли Брандт1971: Президент Ричард Никсон1972: Президент Ричард Никсон и Генри Киссинджер1973: Джон Сирица1974: Король Фейсал1975: Американские женщины1976: Президент Джимми Картер1977: Анвар Садат1978: Дэн Сяопин1979: Аятолла Хомейни1980: Президент Рональд Рейган1981: Лех Валенса1982: Компьютер1983: Президент Рональд Рейган и Юрий Андропов1984: Питер Уэберрот1985: Дэн Сяопин1986: Корасон Акино1987: Михаил Горбачев1988: Вымирающая земля1989: Михаил Горбачев1990: Президент Джордж Герберт Уокер Буш1991: Тед Тёрнер1992: Президент Билл Клинтон1993: Миротворцы: Ицхак Рабин, Нельсон Мандела, Фредерик Виллем де Клерк, Ясир Арафат1994: Римский папа Иоанн Павел II1995: Ньют Гингрич1996: Доктор Дэвид Хо1997: Эндрю Гроув1998: Кеннет Стар и Билл Клинтон1999: Джефф Безос2000: Президент Джордж Уокер Буш2001: Руди Джулиани2002: Разоблачители: Синтия Купер, Колин Роули и Шэрон Уоткинс2003: Американский солдат2004: Президент Джордж Уокер Буш2005: Добрые самаритяне: Билл Гейтс, Боно, Мелинда Гейтс2006: Ты. «Да, ты. Ты контролируешь Век Информации. Добро пожаловать в твой мир».2007: Владимир Владимирович Путин2008: Президент Барак Обама2009: Бен Бернанке2010: Марк Цукерберг2011: Протестующий2012: Президент Барак Обама2013: Римский папа Франциск 2014: Борец с Эболой2015: Ангела Меркель2016: Дональд Трамп«Человек года» все обложки журнала Time за последние 90 лет
Now that the U.S. Census has released its newest estimate of median household income in the United States, it's time to consider where the U.S. federal government spending per U.S. household stands with respect to the Zero Deficit Line, which is the amount of spending that the typical American household can actually afford. The chart below shows those two measures for each year since 1967, when the Census first began reporting its median household income figure: Looking at the chart, we see that for the third year in a row, the amount of U.S. federal government spending per household is hovering just below $30,000 per U.S. household. Our tool below will reveal how much spending can actually be supported by the typical American household given its annual income of $50,054 (or whatever median household income level you might choose to enter!) Median Household Income Data Input Data Values Median Household Income How Much Federal Spending Per Household Can the U.S. Really Afford? Estimated Results Values Federal Spending per U.S. Household Using our tool, we find that in reality, the typical American household can only afford to have the federal government spend no more than $21,059. On a side note, do you remember the old Warner Brothers' Road Runner cartoons? The ones where Wile E. Coyote would be chasing after the bird, then suddenly find himself suspended in mid-air beyond the edge of a cliff, until he looked down and finally crashed back to earth? The level of federal spending per household since 2008 and the lack of meaningful growth in the incomes of U.S. households under President Obama, combined with all the talk these days of the approaching "fiscal cliff" suggests that there is one giant "splat" sound in the near future for the U.S.