BUSINESS NEWS MAY 15TH, 2016
Mark Zuckerberg, founder of Facebook is planning to host a panel of high profile conservative figures at Facebook’s headquarters. Some of the names on the list include Dan Perino and Glenn Beck. Many of these people are unhappy with Facebook’s alleged censoring of conservative news stories in the “trending” section on the social media network’s news-feed. CNN conservative commentator SE Cupp believes that this will be a productive and open minded meeting, as he says conservatives generally fall on the same sides of the issues as Silicon Valley.
THE BIDDING GAMES: YAHOO
Yahoo’s sale has been an inevitability for a while now, but the prospect became a reality recently. Many companies have thrown their hats in the ring for Yahoo’s core, with the most recent bid coming from a Warren Buffett-backed group led by Cleveland Cavaliers owner, Dan Gilbert. The bidding has been going on for the last month, and despite the wide range of competitors, most experts believe Yahoo’s core Internet group will go to cellular service provider Verizon. It’s a fall from grace for the search engine, which was valued at over $250 billion in its early days. Now it is going for just $35 billion.
THE UGLY TRUTH OF MODELING
Models. We see them everywhere, from covers of Abercrombie and Fitch bags to the front of a Victoria’s Secret store. They’re universally accepted as beautiful people, walking down runways in the latest fashion. However, their apartments are anything but. The properties on which models live are the fuel of the industry. Commonly known as “model apartments”, these domiciles are often roach infested, cramped, uncomfortable, and not livable. Many models starting out are unable to find housing in cities and as such, companies take advantage of them, charging ridiculously high premiums for a stay in a tiny apartment.
CAN TRUMP NEGOTIATE AMERICA’S DEBT?
Clearing America’s $19 trillion debt is one of the cornerstones of Donald Trump’s campaign. Last week, the Republican nominee declared that he could negotiate a deal that would allow the government to pay back their debt at a lower rate. For example, for every dollar borrowed, they would pay back 85 cents. As revolutionary as this idea sounds, when examined closely, it is revealed that Trump’s plan would harm the holders of the national debt. Some may say China is the largest holder of U.S. debt, but they hold only about 7% of U.S. government bonds, a paltry amount when compared to the 67.5% of the debt held by U.S. citizens. Economist Doug Holtz-Eakin argues that U.S. Treasury bonds are widely considered extremely safe, and if Trump were to negotiate a deal on them, it would plunge the world into a recession.