Portfolio.com is undergoing a big change. In entrepreneurial-speak, this site is about to take a significant pivot. In fact, this will be the last new blog post until we unveil a new look and brand approach next Wednesday morning.
Richard Suttmeier submits: For US Treasury yields, it's two auctions down, one to go. Gold needs a close above my semiannual pivot at $1218.7 to begin a trend to challenge the June all time high or $1266.5. Crude oil has returned to my annual pivot at $77.05, as the trading range remains $67 per barrel to $87 per barrel in round numbers. The euro is trading just above my monthly pivot at 1.2670. On Tuesday the Dow returned to my annual pivot at 10,379 as expected.
As far as the special committee of Pivot Technology Solutions is concerned they’ve done their job: After months of negotiations, they’ve agreed to put a proposal, brought forward by some insiders, to the company’s shareholders for their consideration.
And they have done that after a search of potential buyers showed that neither a private equity firm nor an industry buyer was prepared to offer enough of a premium to make the deal attractive. As well, they have left the door open to other potential bidders by not including a so-called break fee in the proposal.
On Tuesday, a Microsoft senior product manager for Office 365 wrote a blog post with the title "Google Apps Brings Families Together." It was bizarre. In it, the manager talked about his "Knucklehead Son" who wanted to "wander around the country in a Volkswagen camper van" and compared that son to Google.
The Washington Post issued a rather remarkable correction late Wednesday on a column written earlier in the week by national security reporter Walter Pincus — one that Guardian columnist Glenn Greenwald has been challenging all week.