GOOD DAY FOR: Thankless jobs, as Citigroup named Richard Stuckey to oversee the banking giant’s $43 billion in subprime assets, as head of the bank’s new Sub-Prime Portfolio Group. Stuckey helped unwind Long-Term Capital Management nine years ago, but “the opaqueness as well as the stinkiness are greater” with the subprime mess, said NYU economics professor Lawrence White. (Bloomberg)
BAD DAY FOR: Positive synergy, after Barry Diller announced he is breaking IAC/InterActive Corp. into five publicly traded companies. Diller said the current conglomeration of more than 60 brands—including the Home Shopping Network, Ask-dot-com, TicketMaster, and LendingTree—was too complicated for investors to understand. (The Washington Post)
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.
Create an account with the same email registered to your subscription to unlock access.
