On Friday, 19 April, the TV show “On the Money with Maria Bartiromo” was dedicated to the issue of Boston tragedy, future of print news and 2013’s worst week for markets. The guests of the studio were commenting the latest events on the local and global level and giving their predictions.
Yahoo! Finance Senior Columnist Mike Santoli and UBS Chief US Equity Strategist Jonathan Golub were commenting the weekly situation on stocks and sharing their ideas concerning future of the national and international corporations. The week was rough for the market – explosion in Boston, sell offs in gold and other commodities. All three major indexes on the American stock market dropped for more than 2%. Mike Santoli mentioned that companies were concerned with the deflation forces and inflation expectations, though in the second half of the year, the economic growth acceleration is awaited. He told that the American companies were doing what they could, and the profit margins were high. The main question for the next week is the ability of the market to overcome the slowdown period. On behalf of the investor, Jonathan Golub pointed out that the Boston Marathon was not a market event – there had been fundamentals to support the run, the things were slowing down, and that influenced the market. The issue is in the time frames – in 6 – 10 weeks one may decide when to come back in as the sell off will most probably enable investors to come in low prices. Things are weak, and domestic companies perform better than global ones.
Hearst Corporation CEO, Frank Bennack, was talking about future of print news. He has been working in the industry for more than 50 years and can assess how the things changed within that period of time. He said that the television was the biggest change for the world, despite the continuation of the digital revolution. People watch television more than ever before. However, the print media is not dead. The icon paper is a minor part of the business as the way of the news delivery changes a lot – the data are received on IPods and different platforms. The company doubled the investing in the printed press as it believes that most people want to consume the information in an old-fashioned way. It succeeds due to the diversification and innovation aimed at becoming more electronic. Combination of acquisitions and new starts made a company 15 times bigger and 30 times more profitable than in the beginning. Besides, a documentary film was created to show its history.
Former NYPD counter-terrorism official Mitch Silber commented the investigation of the tragedy in the Boston Marathon. The first actions taken were blocking the roads and finding out people who organized that. Now there are pictures of the two individuals – brothers, who came to the United States as refugees from the Chechen conflict. Mitch Silber presumed that their radicalism was turned to terrorism, and the next question for the investigation is why they feel aggression towards the country that gave them a shelter. He said that big cities rely on FBI in the issues of protection from the terrorism. New York is unique as it has more institutions for this aim. The improvements in security system will be influenced by exploration in the field of detecting and preventing the potential aggressors. Video data are of tremendous importance for the investigation, the point is how to deal with a huge quantity of information; however there are new tools that help to search through the videos using precise criteria, for instance color of a shirt. The government invests a lot of money in such analytic devises. The studio guest pointed out that the probable core of the brothers’ violence is their ethnic heritage.