Mnuchin Takes on the Dollar at Davos: DealBook Briefing
• Spencer Jakab writes, “Sunlight may be the best disinfectant, but General Electric is learning
that it can leave some nasty burns — particularly for those who have spent too much time in the shade.” (Heard on the Street)
• Tom Buerkle writes of G. E.’s chief, John Flannery, “Flannery’s time to draw a line under past mistakes is shrinking — and with it the likelihood
that he can show that G. E.’s diverse businesses are better together than apart.” (Breakingviews)
Point 72 is on the verge of managing outside money and operating as a true hedge fund again.
The bigger picture, courtesy of Ben White in Politico:
If the U. S. is publicly supporting a weak dollar while also imposing tariffs on foreign imports — as the Trump administration did
this week — it could invite retaliation from other countries, potentially sparking both currency and trade wars, economists say.
Governors of coastal states have already pointed out
that an offshore spill could devastate tourism — another trillion-dollar industry — not to mention wreck fragile littoral environments.
Completely coincidentally, we’re sure, shares in Weight Watchers International were down 3 percent this morning:
From a client memo by David Katz and Laura McIntosh of the law firm Wachtell, Lipton, Rosen & Katz:
A recent study indicates that the topic would be new for most public company boards, notwithstanding the fact
that it relates to key elements of board-level governance: company culture, tone-at-the-top, risk management, and crisis management.
