GOOD DAY FOR: Liquid assets, as equities-weary investors are flooding the fine-whisky market. Eleven months after the launch of a Dutch online market for rare Scotch, the World Whisky Index has produced an average return or 26.2 percent, versus a 40 percent drop in the MSCI World stock index. The top performer, a 30-year old Bowmore Scotch whisky in a ceramic bottle, has gained about 137 percent. (Reuters)
BAD DAY FOR: Sparkle in Seattle, after the collapse of Washington Mutual has thrown the city’s philanthropies, including its July 4 fireworks show, into disarray. WaMu, besides sponsoring the fireworks, gave money to charities, the Seattle Symphony, and theater groups. “We don’t expect our fundraising to tank” without WaMu, said Jared Erlandson of United Way of King County, “but we know it’s tightening.” (Bloomberg)
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