Good, Bad, and Ugly

Million, not billion…

Study: Some US firms paid more to CEOs than taxes

WASHINGTON, Aug 31 (Reuters) – Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study said on Wednesday.

* Boeing, which paid CEO Jim McNerney $13.8 billion, sent in $13 million in federal income taxes, and spent $20.8 million on lobbying and campaign spending

Hi – just a heads up. I believe McNerney’s pay should equal $13.8 million, not billion…?

Bill

Of course. We corrected: GBU Editor

Jim McNerney, President and CEO of Boeing, is pictured outside the West Wing of the White House in Washington September 16, 2010. REUTERS/Jason Reed

The price of copper…

As copper soars, thieves extract a price

NEW YORK, July 13 (Reuters) – When thieves ransacked eight air conditioners in an apartment complex in the city of Mobile, Alabama, the culprits made off with $800 worth of scrap metal and left residents with $38,000 worth of damages.

The price of the red metal traded in New York HGc1 rallied to its highest in nearly three months during the first week of July, placing it within 5 percent of its all-time high of $465 per pound in mid-February this year. Even at roughly $439 on Wednesday morning, the price was still right for thieves.

Your update laughably lists copper price of over $400 U.S. per pound when copper is $4.30 per pound

Joe M.

Yes, we were missing a decimal point in two different figures. We corrected, of course: GBU Editor

Used copper wires are seen in a recycling company in Thoerishaus near Bern July 3, 2011. REUTERS/Ruben Sprich

Shell Games…

Special Report: A little house of secrets on the Great Plains

By Kelly Carr and Brian Grow

CHEYENNE/ATLANTA (Reuters) – The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming.

At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn’t a shimmering skyscraper filled with A-list corporations. It’s a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol.

I just finished reading the article written by Kelly Carr and Brian Grow; it is a true eye-opener. I just wanted to tell you that this is the best piece of journalistic writing I have read in ages. The writing was clear, concise and detailed. Kudos to the writers.

Susan B.

Thanks for noticing the special report, which may be found here: GBU Editor

A state of confusion?

Sensient Technologies ups 2011 earnings outlook

Shares of the Milwaukee, Illinois-based company closed at $36.82 on Friday on the New York Stock Exchange.

The Company is headquartered in Milwaukee, WISCONSIN.

Philip

Indeed. We corrected it: GBU Editor

A cyclist tries to ride during a blizzard in Milwaukee, Wisconsin February 2, 2011. REUTERS/Darren Hauck

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Very unfortunate typo

Thai bourse halts Sri Trang before S’pore IPO news

BANGKOK Jan 24 (Reuters) – The Thai Stock Exchange said it had suspended trading in Sri Trang Agro-Industry Pcl STA.BK on Monday ahead of an announcement on the pricing of its Singapore initial pubic offering (IPO) later in the day.

In your article I believe you meant public offering, NOT pubic!

Maverick

I sincerely hope so. We fixed it: GBU Editor

A security guard secures the building of Stock Exchange of Thailand that was partially burnt during recent clashes in Bangkok, May 24, 2010.  REUTERS/Damir Sagolj

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Palin’s opinion…

Palin tells Bernanke ‘cease and desist’-report

WASHINGTON, Nov 8 (Reuters) – Tea Party favorite Sarah Palin on Monday weighed in on the global debate over the Federal Reserve’s $600 billion plan to buy up government debt, suggesting Fed Chairman Ben Bernanke should “cease and desist.”

Why would Reuters, a fist class news reporting organization, run an article featuring Sarah Palin’s opinion about this?

Though some political persons may enjoy her time in the headlines, I hardly believe that most Americans really care what she believes when economic methods are the topic…Reuters is not Wonder Wall… right?

M.S.

As the second paragraph of our story said, Palin is widely seen as a prospective 2012 Republican presidential candidate.

That, coupled with her party’s election gains just a few days earlier, means her opinion on such issues is newsworthy: GBU Editor

I’ll have a nice big stake, please…

Microsoft’s Ballmer sells 12 percent stake in company

SEATTLE (Reuters) – Microsoft Corp Chief Executive Steve Ballmer sold $1.3 billion worth of shares in the company, cutting his stake by about 12 percent, but said his first stock sale in seven years should not be taken as a lack of confidence in the world’s largest software firm.

Your headline says Ballmer sold a “12 percent stake in Microsoft,” which would mean he sold 12 percent of the company’s stock.

In fact, as your story itself explains, he sold 12 percent of his own holdings of Microsoft stock — a substantially smaller, though still really big, amount.

This error has also been reported over at MediaBugs.org: http://mediabugs.org/bugs/reuters-eadline-wildly-overstates-steve-ballmers-stock-sale

Scott

We corrected: GBU Editor

Airline agreement…

DEALTALK-Rival mergers put new pressure on American Airlines

JetBlue Airways and Alaska Airlines also could be good fits for American Airlines and might be on its M&A radar, analysts and bankers have said.

American entered a code-share agreement with JetBlue this year allowing passengers to connect with one ticket to American’s international flights from New York and Boston.

I am a pilot with AA and I would like to point out that the quote from this article is a misrepresentation of what the “partnership” is between Jet Blue and American Airlines.

They are not “code sharing”. Their relationship consists of an “interline agreement” and that is much different than what the article states. Please adjust the article with a correction.

Tim

Legume it may concern…

Special report: BRIC breaking: Brazil’s China syndrome

What accounts for their vastly different fortunes? China. Its demand for commodities like soy is nearly insatiable. In recent years, China has steadily ramped up its imports of the grain.

Not a question, a correction. I think  you’ll find that soy is not a grain, but a legume.

Harry J.

Soybeans are a legume, not a grain.

However, in common understanding and usage in economics, soybeans are generically understood and accepted as a basic commodity of world grain trade. CBOT, the world’s largest grain exchange, has listed a soybean contract for 100 years.

In future, the proper term to use as a reference would be “oilseed.”  GBU Editor

The wrong COO?

CORRECTED – Baird continues sweep of Morgan Stanley talent

(In 6th paragraph, corrects to show that Kovics came from Prudential, not Morgan Stanley)

NEW YORK, Aug 24 (Reuters) – Baird Private Wealth Management said on Tuesday it hired eight advisers and a branch manager from Morgan Stanley Smith Barney to establish new offices in Charleston, South Carolina, and Fort Worth, Texas.

Denise Wypiszenski, Baird Private Wealth’s chief operating officer, spent 15 years at Smith Barney before moving to Baird in November 2009.

Your August 24 story about Baird hiring more Morgan Stanley noted that Denise Wypiszenski is Baird’s COO. She is no longer with the firm.

R.A.