The silver lining behind the plunging dollar
Don’t panic about the dollar’s dive to a record low against the euro, said Ben Steverman in BusinessWeek.com. “The hit” to U.S. prestige and to “Americans’ buying power abroad is substantial.” But large-cap, international companies—a “key part” of the stock market—“get much of their profits from abroad.” When they bring those earnings home, the boost they’re already getting from global growth will be multiplied when they convert to haul into dollars.
Patriots coach fumbles
Bad timing, coach, said Joan Vennochi in The Boston Globe. New England Patriots head coach Bill Belichick this year set up a for-profit corporation for endorsements, TV appearances, and speeches. It seemed like a winner, after “five years and three Super Bowl victories.” But Belichick’s stock dropped this week when NFL officials determined that the Patriots videotaped New York Jets coaches sending signals to players on the football field. If Belichick is “willing to cheat to gain an edge,” Bill Belichick Inc. is a “tarnished brand.”