Felix Salmon

Why did the NYT nuke Ten Ones?

March 7, 2011

What exactly happened at the Ten Ones blog? I asked NYT spokesperson Kristin Mason, and she replied with this:

The economics of Business Insider

March 7, 2011

Henry Blodget has a great post about the Business Insider business model, in which he reveals that his mini-empire basically broke even in 2010 on $4.8 million in revenue. There was a pretty impressive profit in the fourth quarter of the year — breaking out the Photoshop measure tool and applying it to this chart makes me think that TBI made about $210,000 in those three months, on about $1.9 million in revenue.

The Gupta-Rajaratnam tapes

March 7, 2011

I missed this on Friday:

Prosecutors intend to introduce audiotapes showing that Rajaratnam got inside tips from his friend Rajat Gupta…


March 7, 2011

How safe is Janette Sadik-Khan’s bike-friendly legacy? — NYT

Roger Lowenstein on the cost of avoiding muni default — NYT

The Newsweek redesign — SPD

Overstock.com’s Latest Risk: Social Media — Weiss

Stiglitz and Schiffrin with a fantastic review of Spousonomics — NYM

Frat boys in a box — Gothamist

A transcript of David Einhorn’s FCIC interview — Santangel

“Twenty minutes later, possibly under their own steam, the snails arrive.” — VF

Incompetent mortgage servicers read the writing on the wall

March 7, 2011

How incompetent are mortgage servicers? So incompetent that faced with one of the most prominent journalists at one of the most prominent newspapers in the country, they contrived to subject him to, in his words, “a months-long odyssey: rates misquoted, interest charged on a phantom account, legal documents issued in wrong names, a mortgage officer who disappeared for days at a time (first it was his birthday, then his laptop was in the shop), a bounced check from Citibank’s own title company, and the freezing of our bank accounts”.

The FT’s decline

March 6, 2011

I had a hard-to-follow Twitter debate yesterday about the FT’s paywall, where a couple of FT types — Alan Beattie and John Gapper — told me that the latest numbers for digital subscribers show that I was wrong when I criticized the FT’s strategy in October 2007. I’m often wrong, so that wouldn’t come as a surprise. But in this case I think I was right.

Chart of the day, US earnings edition

March 4, 2011

The jobs report this morning showed average hourly earnings increasing by 1 cent to $22.87 over the past month; that brings weekly earnings up to $782.15, on average, up 2.3% on last year. That’s a modest improvement, but an improvement all the same.

Frank Rich vs the NYT paywall

March 4, 2011

Megan Garber has a great column at Nieman Lab on the effect of paywalls on journalists:

The disappointing jobs situation

March 4, 2011

The general reaction to this morning’s jobs report is “meh”, as you might expect, given the release, where the phrases “changed little”, “about unchanged”, “little or no change”, “unchanged”, and “essentially unchanged” all appear in the first five paragraphs. But that’s largely a function of the fact that the release attacks the unemployment figures first; when it comes to payrolls, they rose by a statistically significant amount — 192,000 jobs, and the trend, while modest, is clearly in the right direction: