Best business commentary
In “times of financial crisis (like now),” said Fortune’s Katie Benner in CNNMoney.com, the question of where to keep your cash “isn’t so simple.” “Smart businesspeople” like Sam Zell and Brian Tierney “appointed themselves as life savers” of the newspape
Safety in cash havens
In “times of financial crisis (like now),” said Fortune’s Katie Benner in CNNMoney.com, the question of where to keep your cash “isn’t so simple.” In this case, “cash” means liquid investments that won’t lose value, be taxed, or be subject to fees. Money market funds and auction-rate securities have proven risker than some investors bargained for. But “there are still safe options,” although “safety means lower yields.” Treasury bills, bank money market accounts, and CDs carry almost no risk—and offer fairly low returns. With annual inflation at 4 percent, most of those “cash” accounts will lose money. “So don’t keep your money parked forever”—just until the chaos settles.
Breaking news
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
“Smart businesspeople” like Sam Zell and Brian Tierney “appointed themselves as life savers” of the newspaper industry, said David Carr in The New York Times. But “soon after jumping in,” they too found themselves “foundering in the tall waves” of the stormy “publishing sector.” As people turn to the Web, newspapers are hitting hard times and cutting talent—and they “may not be touching bottom any time soon.” Zell is selling Newsday, one of his new Tribune empire’s “more lucrative assets,” because it can still fetch a “decent” price. But enjoy the bidding: Barring a future “strategic or ego-driven impulse,” it may be “one of the last big fights for a newspaper.”
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
-
What is cloud seeding and did it cause Dubai's severe rainfall?
The Explainer The future is flooded
By Devika Rao, The Week US Published
-
American Airlines pilots are warning of a 'significant spike' in safety issues
In the Spotlight The pilot's union listed 'problematic trends' they say are affecting the airline's fleet
By Justin Klawans, The Week US Published
-
6 star-spangled presidential libraries to visit
The Week Recommends These institutions provide insight into American leaders
By Catherine Garcia, The Week US Published