September 13, 2011

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More or less the entire market now believes Greece will default. — Bloomberg

It now costs a record $5.8 million upfront and $100,000 annually to insure $10 million of Greek debt for five years using credit-default swaps, up from $5.5 million in advance Sept. 9.

One of Buffett’s successors is a guy who paid over $5.2 million to have lunch with him. —Fortune

[Weschler’s] three biggest positions were W.R. Grace (GRA) ($412 million), DaVita (DVA) ($368 million), and DirectTV (DTV) ($328 million). DaVita runs kidney dialysis centers. W.R. Grace is in bankruptcy, but its stock trades actively in the market.

The United States has the lowest share of small businesses of any OECD country. — Washington Post

in France, when a company grows to 50 employees, it has to set up a Works Council that coordinates with employees on workplace conditions. And so “many small French companies limit themselves to… 49 employees.”

The US Department of Defense is the world’s largest employer, by far, with 40% more employees than the Chinese People’s Liberation Army . — The Economist

Student loans for for-profit universities are about as safe as sub-prime. — @rortybomb

Groupon Needs to Get Its Growth On — WSJ

The story isn’t all bad. Groupon gained market share in North America in August compared with top rival LivingSocial, Yipit Data reports. Meanwhile Facebook, a potentially worrisome competitor, recently shut down its daily-deals product.

86% of Americans now approve of interracial marriages. — Gallup

More Americans disapproved than approved until 1983, and approval did not exceed the majority level until 1997.


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