Top officials at New York Fed stepping down
NEW YORK (Reuters) - The Federal Reserve Bank of New York said two top executives would step down on June 1, leaving an interim figure in charge of the U.S. central bank’s market operations.
Simon Potter, who as head of the Markets Group runs the broader Federal Reserve system’s market operations and asset holdings, is stepping down, as is Richard Dzina, head of the Financial Services Group, the New York Fed said in a statement.
New York Fed President John Williams named Ray Testa, chief operating officer of the Markets Group, as its interim head and also named an interim chief from within the regional bank to run the Financial Services Group.
The Markets Group is charged with trading to implement the Fed’s interest rate policy and also manages relationships between the central bank and Wall Street.
A spokeswoman, Suzanne Elio, declined to comment beyond the statement.
Potter, an economist, is a veteran of more than two decades at the New York Fed and has run the Markets Group since June 2012.
The group has had an enlarged role in markets because of the Fed’s massive asset purchases to support the U.S. economy in the aftermath of the 2008 global financial crisis. The central bank currently holds nearly $4 trillion in assets.
“I’m not sure if there is ever a good time for someone like Simon to leave,” said Michael Gapen, chief U.S. economist at Barclays in New York. “He’s been there for a long time and has a difficult job. He has helped lay out the framework on how to manage the Fed’s balance sheet and the plumbing of money markets.”
https://www.reuters.com/article/us-usa-fed-markets/top-officials-at-new-york-fed-stepping-down-idUSKCN1SY1UY?il=0
didn't do it for the longest time 'cause of freddy.
put it on it's own without anything else in that sentence
prefer to be a little moar sanguine about them
Mighty high and mighty of you. Sounds like you just volunteered.
you have enough time to bitch at them but not do it?
I'll take 'dat one. Ty
Yes that was a painful event. Kept all of mine. Actually added on the way down. people will wake up to why that habbened with daley and all that shit.
Actually got moar a few penny's off the september low's…all lib eagles.
:)
take your meds. anyone paying attention saw that
the situational awareness began in the lb. again take your meds
Proctor and Gamble CEO exercises Options and sells-$753,418 is the difference-gotta come from somewhere
Procter & Gamble Company is one of the world's leaders in producing and selling consumer products. Net sales break down by family of products as follows:
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care and hygiene products (38.8%): oral hygiene products (toothpastes, toothbrushes, mouthwashes, etc.; Crest, Oral-B, Scope brands, etc.), pharmaceutical products (Vicks and Prilosec), toilet training pants (Pampers), toilet papers (Charmin), paper towels (Bounty), feminine protection products (Always and Tampax), etc.;
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home care and laundry products (32.1%): dishwashing liquids, detergents, stain removers, fabric softeners, deodorizers, bleaches, etc. (Ariel, Downy, Dash, Tide, Bonux, Mr Propre, Swiffer, Febreze, Ace, etc.);
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beauty products (18.6%): hair care products (shampoos, colorings, and cream rinses; brands Pantene, Head & Shoulders, Herbal Essences, Wella and Koleston), body care (soaps, shower gels, deodorants, etc.; Camay, Zest, Secret, Old Spice), cosmetics (make-up and facial care; Max Facto, Covergirl and Olay), and perfumes (Hugo Boss, Lacoste, Escada);
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shaving products (9.8%): blades, razors, batteries, etc. (Gillette, Mach3, Braun and Fusion brands);
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other (0.7%).
Number of employees : 92 000 people.
https://www.secform4.com/insider-trading/80424.htm
Netflix Threatens To Boycott Georgia If Anti-Abortion Law Takes Effect
What happens when a formerly "growth company" transitions into a state of not so growth? Well, it will desperately do anything to restore its growth by attracting attention to itself in any way possible, or failing that, it will engage in some ideological virtue signaling, and while alienating one half of its possible clients, it will double down on the other half.
Netflix, whose US growth has now plateaued, has done something that falls in-between these two options, because as Bloomberg reports, the video streaming company - which is about to be existentially challenged by such bigger peers as Disney - plans to reconsider its “entire investment” in Georgia if a law restricting abortions takes effect in the state, where it films shows such as “Stranger Things” and “Ozark.”
In early May, Georgia became the fourth U.S. state this year to outlaw abortion after a doctor can detect a fetal heartbeat, although anti-abortion rights groups vowed to challenge the bill. The new law is set to be enacted in 2020 if it survives legal challenges; It has predictably triggered the liberal bastion of Hollywood, where several filmmakers have said they would refuse to work in the state, but so far large companies have remained silent.
This is where Netflix has taken virtue signaling to a whole new level.
But what does a money-losing video streaming service have to do with state abortion rights? Well, according to Reid Hastings, everything.
“We have many women working on productions in Georgia, whose rights, along with millions of others, will be severely restricted by this law,” Chief Content Officer Ted Sarandos said in a statement.
“It’s why we will work with the ACLU and others to fight it in court. Given the legislation has not yet been implemented, we’ll continue to film there, while also supporting partners and artists who choose not to. Should it ever come into effect, we’d rethink our entire investment in Georgia.”
But will Netflix, which is desperate for the cheapest possible content creation really pull out, pun probably not intended, of Georgia? Somehow we doubt it.
As Bloomberg notes, Georgia has some of the most generous film and TV subsidies in the country, and it’s become a popular hub for production. AMC Networks Inc.’s “The Walking Dead” is filmed there, along with several of Walt Disney Co.’s recent hits, including “Captain America: Civil War,” “Ant-Man” and “Black Panther.”
Others virtue signalling amateurs, such as J.J. Abrams Jordan Peele, the director of “Get Out,” said they will still be shooting their show “Lovecraft Country” in the state, although they’ll donate their fees for this season to the ACLU of Georgia and Fair Fight Georgia.
But if Netflix follows through with its threat to boycott Georgia, what will it do with all the other states that plan to follow in Georgia's footsteps. In addition to Kentucky, Mississippi and Ohio which have all enacted heartbeat laws since mid-March, and Iowa passed one last year, and Alabama which passed a bill that would ban all abortions unless the mother’s life is threatened, a total of 15 states have introduced measures to ban abortions as early as six weeks into a pregnancy.
Will Netflix soon be stuck with only filming its money losing movies in only the most expensive of liberal states? Once again, we doubt it, but then again nothing is as money-losing as virtue signaling for the sake of, well, virtue.
Meanwhile, the Motion Picture Association of America has noted that similar legislation has been challenged in other states. “The outcome in Georgia will also be determined through the legal process,” the organization said. “We will continue to monitor developments.”
https://www.zerohedge.com/news/2019-05-28/netflix-threatens-boycott-georgia-if-anti-abortion-law-takes-effect