#David Kligerman

[sarcasticcynic]

Called it

The Voice of America was founded in 1942, to combat Nazi propaganda with credible news reports. Its formal charter, created in 1976, guarantees: “VOA will serve as a consistently reliable and authoritative source of news” and will be “accurate, objective, and comprehensive.” In 1994, Congress enacted the United States International Broadcasting Act of 1994, which formally codified these standards into federal law. (22 U.S.C. § 6202(c)(1).)

The IBA also established the position of Chief Executive Officer of the Broadcasting Board of Governors. Federal law specifically states: “The Secretary of State and the Chief Executive Officer [of the Broadcasting Board], in carrying out their functions, shall respect the professional independence and integrity of the Board, its broadcasting services, and the grantees of the Board.” (22 U.S.C. § 6204(b).)

In June of 2020, when Trump announced that he was replacing the CEO with Michael Pack--a guy who used to make documentaries with Steve Bannon--the current CEO and the rest of the BBG (now also known as the U.S. Agency for Global Media) felt it necessary to confirm the foregoing principles in a formal federal regulation entitled “Firewall and Highest Standards of Professional Journalism.” The regulation reaffirms:

“All USAGM-funded Networks must adhere to the highest professional standards of journalism ... in order to produce news which is consistently reliable and authoritative, accurate, objective, and comprehensive.”

The regulation also addresses Trump’s habit of pressuring government entities to support whatever he says, and his equally noxious habit of viciously attacking any news organization that is anything short of laudatory, by expressly clarifying that it is improper misconduct when:

“...any person within the Executive Branch or a Network, but outside the newsroom, attempts to direct, pressure, coerce, threaten, interfere with, or otherwise impermissibly influence any of the USAGM networks, including their leadership, officers, employees, or staff, in the performance of their journalistic and broadcasting duties and activities. ... Such impermissible influence would undermine the journalistic and editorial independence, and thus the credibility, of that USAGM network, and their reporters, editors, or other journalists.”

As David Kligerman, the agency’s general counsel, explained: “The key to the credibility of any news organization is editorial independence and adherence to the professional standards of journalism.”

Trump’s appointee lived up down to expectations almost immediately.

Pack “investigated the agency’s journalists for bias against President Trump and pushed for their dismissals and reassignments.”

Pack also “instigated investigations of ... VOA’s White House bureau chief over perceived anti-Trump bias.”

“Pack has purged USAGM and its broadcasters of top executives whom he believed to be insufficiently loyal.”

Pack suspended general counsel David Kligerman in August.

Pack “ignored a subpoena” that the House Foreign Affairs Committee issued to compel his testimony before Congress.

“He has embraced Trump’s talk of a so-called ‘deep state’ thwarting the president’s priorities at USAGM.”

Now Pack has decided that the “professional independence and integrity” the CEO owes under federal law doesn’t require him (or Trump) to allow the VOA and her sister stations any actual “independence.” Indeed, as far as he is concerned, allowing the VOA any “independence” would interfere with the CEO’s duty to “direct” and “supervise.” He also maintains that the phrase “highest standards of journalism” is too “vague” for him or anyone else to comply with, or even understand.

So Pack unilaterally repealed the regulation in its entirety, effective immediately.

Pack announced the repeal “at 10:18 p.m. Eastern Time in a note to all of USAGM's several thousand employees, on the same night as the swearing-in of a new U.S. Supreme Court justice, and just eight days before Election Day.” Conveniently enough, Pack also declared that his repeal is “exempt from review,” and that all provisions requiring “notice of proposed rulemaking” and “opportunity for public participation” are “inapplicable.”

Trump finally got the state-run global news network he always envied.

[mrskahne]

Starting Lineup for the Coca-Cola 600 at Charlotte Motor Speedway

1. Kyle Busch

2. Joey Logano

3. Denny Hamlin

4. Erik Jones

5. Brad Keselowski

6. Ryan Newman

7. Jamie McMurray

8. Ryan Blaney

9. Aric Almirola

10. Daniel Suarez

11. Kyle Larson

12. Austin Dillon

13. Ricky Stenhouse Jr.

14. Paul Menard

15. Martin Truex Jr.

16. Kurt Busch

17. Matt Kenseth

18. Chris Buescher

19. David Ragan

20. Ty Dillon

21. William Byron

22. Chase Elliott

23. Jimmie Johnson

24. Bubba Wallace Jr.

25. Ross Chastain

26. Kasey Kahne

27. Alex Bowman

28. Clint Bowyer

29. Michael McDowell

30. AJ Allmendinger

31. Matt DiBenedetto

32. Parker Kligerman

33. Corey LaJoie

34. Gray Gaulding

35. Landon Cassill

36. Timmy Hill

37. Jeffrey Earnhardt

38. BJ McLeod

39. Kevin Harvick

40. JJ Yeley

[orbemnews]

Trump-appointed head of World Media company resigns at Biden's request Pack, a conservative documentary filmmaker who turned CEO in June, has been broadly criticized for his stewardship of the worldwide information providers below USAGM, together with the Voice of America. “The brand new administration has requested my resignation,” Pack wrote in a letter to employees. “USAGM and the CEO place are supposed to be non-partisan,” Pack stated. “As such, each single day, I used to be solely centered upon reorienting the company towards its mission. I sought, above all, to assist the company share America’s story with the world objectively and with out bias.” In one in every of his final acts, Pack on Tuesday introduced new boards of administrators for the Radio Free Europe/Radio Liberty, Radio Free Asia, and Center East Broadcasting Networks, three different information organizations below USAGM’s supervision. The members are conservative discuss radio host Blanquita Cullum; Jonathan Alexander from the conservative, anti-LGBTQ Liberty Counsel; pro-Trump filmmaker Amanda Milius; Roger Simon, who based on his LinkedIn writes for the Epoch Occasions, the pro-Trump paper with ties to Falun Gong; and Christian Whiton, a fellow on the Heart for Nationwide Curiosity who served within the Trump and Bush administrations. Pack not too long ago made information for telling VOA’s White Home reporter that she was “not licensed” to ask Secretary of State Mike Pompeo a query. The reporter, Patsy Widakuswara, was subsequently demoted twice, with out rationalization. Since Pack’s arrival at USAGM, he “has tried to whitewash the primacy of the journalistic mission: each figurative and actually,” stated David Kligerman, the previous basic counsel at VOA till he was allegedly pressured out by Pack final month. “On his first day, he painted over an epigraph (by his predecessor John Lansing) celebrating the First Modification and the sacred obligation of journalists to carry public officers accountable.” In December, the federal watchdog group Workplace of Particular Counsel stated it “discovered a considerable chance of wrongdoing” throughout an investigation of the company, which was prompted by a grievance filed by six senior officers who alleged that Pack had abused his authority. Kligerman stated on the file what many others at VOA echo privately — that Pack has since “waged warfare towards the Company’s journalists and editorial independence,” together with by firing all of the community heads and rescinding the company’s firewall regulation meant to insulate it from political meddling, refusing “to resume J1 visas for our journalists for purely nativist causes, forcing them overseas; and pretextually firing journalists for protecting tales perceived to be dangerous to the administration.” Supply hyperlink #agency #Bidens #Global #Media #MichaelPack:Trump-appointedheadofGlobalMediaagencyresignsatBiden'srequest-CNN #Request #Resigns #Trumpappointed

[dipulb3]

Trump-appointed head of Global Media agency resigns at Biden's request

New Post has been published on https://appradab.com/trump-appointed-head-of-global-media-agency-resigns-at-bidens-request/

Trump-appointed head of Global Media agency resigns at Biden's request

Pack, a conservative documentary filmmaker who became CEO in June, has been widely criticized for his stewardship of the international news services under USAGM, including the Voice of America.

“The new administration has requested my resignation,” Pack wrote in a letter to staff.

“USAGM and the CEO position are meant to be non-partisan,” Pack said. “As such, every single day, I was solely focused upon reorienting the agency toward its mission. I sought, above all, to help the agency share America’s story with the world objectively and without bias.”

In one of his last acts, Pack on Tuesday announced new boards of directors for the Radio Free Europe/Radio Liberty, Radio Free Asia, and Middle East Broadcasting Networks, three other news organizations under USAGM’s supervision.

The members are conservative talk radio host Blanquita Cullum; Jonathan Alexander from the conservative, anti-LGBTQ Liberty Counsel; pro-Trump filmmaker Amanda Milius; Roger Simon, who according to his LinkedIn writes for the Epoch Times, the pro-Trump paper with ties to Falun Gong; and Christian Whiton, a fellow at the Center for National Interest who served in the Trump and Bush administrations.

Pack recently made news for telling VOA’s White House reporter that she was “not authorized” to ask Secretary of State Mike Pompeo a question. The reporter, Patsy Widakuswara, was subsequently demoted twice, without explanation.

Since Pack’s arrival at USAGM, he “has attempted to whitewash the primacy of the journalistic mission: both figurative and literally,” said David Kligerman, the former general counsel at VOA until he was allegedly forced out by Pack last month. “On his first day, he painted over an epigraph (by his predecessor John Lansing) celebrating the First Amendment and the sacred duty of journalists to hold public officials accountable.”

In December, the federal watchdog group Office of Special Counsel said it “found a substantial likelihood of wrongdoing” during an investigation of the agency, which was prompted by a complaint filed by six senior officials who alleged that Pack had abused his authority.

Kligerman said on the record what many others at VOA echo privately — that Pack has since “waged war against the Agency’s journalists and editorial independence,” including by firing all the network heads and rescinding the agency’s firewall regulation meant to insulate it from political meddling, refusing “to renew J1 visas for our journalists for purely nativist reasons, forcing them out of the country; and pretextually firing journalists for covering stories perceived to be harmful to the administration.”

[junker-town]

Denny Hamlin wins Daytona 500 after 3 major crashes in final laps

The ending of the Daytona 500 was a wild one, with a massive 18-car crash at the front of the pack setting up a sprint at the end,

The NASCAR Cup Series is officially underway, and the first big victory of the season goes to Denny Hamlin of Joe Gibbs Racing, who managed first place in the Daytona 500 on Sunday.

The race was thrown for a loop when a massive 18-car wreck happened with nine laps to go, drawing a red flag and prompting a sprint to the finish wish a severely weakened field. That massive wreck was followed by a smaller wreck shortly after the race resumed with 7 remaining laps.

That made it, essentially, a 2-lap sprint. And once they got going again ... they crashed again, sending it into a 2-lap overtime. There were two Toyotas, two Fords and two Chevrolets in that order when the final restart happened. Hamlin managed to get past Kyle Busch right away, and then Joey Logano shot up past Busch as well, into second behind Hamlin. Hamlin would go on to hold on to the lead.

William Byron had pole position for the race, his first at the Daytona 500. His Hendrick Motorsports teammate, Alex Bowman, qualified in second. Between them, there were just there Daytona 500 starts, but in the rows behind, well-known veterans like Kevin Harvick, Joey Logano, Ricky Stenhouse Jr., and Clint Bowyer loomed.

Before the race, as the drivers were taking a formation lap around the track, Byron told the FOX broadcast team over the radio that he wasn’t worried about what anybody behind him thinks. After the first round of pit stops, he’d fallen down to around fifth on the grid, but was holding his own.

The first caution came when LaJoie lost some bodywork after cutting his right-front tire. The second came when Kurt Busch and Bubba Wallace were involved in a crash jut out of Turn 2.

After the first stage, Kyle Busch held the lead, ahead of Bowman and Logano on the outside. Byron was down to 13th after the first 60 laps. Logano got the lead at the start of stage two, and was battling back and forth with Daniel Suarez after Busch dropped back.

Throughout the race, the Toyota and Chevy cars were generally faster than the Fords. Byron made his way back up to fourth, with Bowman in third behind Kyle Busch Matt DiBenedetto halfway through the second stage. The third caution came out when Casey Mears and Parker Kligerman connected with 13 laps to go in Stage 2.

After some more pit stops, the second stage ended with Ryan Blaney on top, but the usual suspects around him. Byron had the lead back at the start of the third stage, and the 80-lap race was on. Byron was immediately scrapping with Jimmie Johnson, Stenhouse and Kevin Harvick.

Another caution occurred when Cody Ware and BJ McLeod wrecked going into the pit lane, and that collected some others, including Tyler Reddick, Johnson and Stenhouse. It was a messy, messy incident and it also caused the pit lane to be closed.

That is not ideal for Jimmie Johnson. pic.twitter.com/9nzmFUvF46

— FOX: NASCAR (@NASCARONFOX) February 17, 2019

After that dustup, Denny Hamlin had the lead, followed by Bowman and Kyle Bush. Bowman had been hovering around the 13 range for much of the race, but he picked his moments well. At that time, Byron was running in sixth. Another caution followed as Kyle Larson made contact with the outside wall, prompting Byron and others to pit with 18 laps to go.

With 15 to go the top was Hamlin, Kyle Busch, Bowyer, DiBenedetto and McDowell. The ninth caution of the day came when the veteran, Brad Keselowski, spun out and seemed to suffer a mechanical failure. And shortly after that, we had a massive wreck!

A total of 18 cars were involved, including all of Austin Dillon, Ryan Newman, Daniel Hemric, Chase Elliott, Aric Almirola, Ryan Blaney, Ty Dillon, Ricky Stenhouse Jr., Martin Treux Jr., Erik Jones, Paul Menard, Tyler Reddick, Matt Tifft, Chris Buescher, David Ragan, Daniel Suarez, Kyle Larson, Jimmie Johnson, and Matt DiBenedetto.

The Big One strikes in the closing laps at @DISupdates.#DAYTONA500 pic.twitter.com/wBHo7EH6Ok

— NASCAR (@NASCAR) February 17, 2019

The red flag came out, and the top five was Kyle Busch, Hamlin, Bowyer, McDowell and Harvick. Those guys just missed the wreck, which began at the start of the pack on the outside wall. When they got going again, there was another wreck almost immediately. Larson, Stenhouse, Harvick, Elliott, Bowman, Keselowski and Ty Dillon were all involved in it.

[yahoo-from-the-marbles-blog]

Kyle Larson wins second-career road course pole at Sonoma

Kyle Larson hasn’t finished in the top 10 in any of his previous four Sonoma starts. (AP Photo/Derik Hamilton)

Kyle Larson will lead a bevy of Chevys to the green flag Sunday at Sonoma.

Larson got his second-ever road course pole on during Saturday’s qualifying session and is one of four Chevy drivers who will start in the top five. Martin Truex Jr., who starts second, is the only non-Chevy driver in the top five.

Chevy has struggled so far in 2018 with its new Camaro car design. Its only win has come when Austin Dillon led the final lap — his only lap led — to win the season-opening Daytona 500.

Larson hasn’t finished in the top 10 in any of his previous four Sonoma starts. A win on Sunday would not only qualify him for the playoffs but make him the 10th different winner in the last 10 races at Sonoma.

The first round of qualifying was bizarre as a car blew an engine late during a K&N West Series session before qualifying. NASCAR put drying material down on the track for the fluid that had been dispersed but the track was very clearly not clean and NASCAR went green with qualifying anyway. That meant many drivers were afraid to try a qualifying lap in the first 15 minutes of the 25-minute first round.

Clint Bowyer, who posted the fastest speed in one of the two practice sessions Friday, was not happy.

Sit around here all day to get a lap of qualifying in. Track was clearly not ready and forces 40 cars to try and make a lap in the last 5 mins. Not 1 but 2 cars pull out in front of ya. Real nice!

— Clint Bowyer (@ClintBowyer) June 23, 2018

  Here’s the full starting lineup.

1. Kyle Larson 2. Martin Truex Jr. 3. Chase Elliott 4. Jamie McMurray 5. AJ Allmendinger 6. Kevin Harvick 7. Jimmie Johnson 8. William Byron 9. Kyle Busch 10. Brad Keselowski 11. Ryan Blaney 12. Joey Logano 13. Trevor Bayne 14. Ryan Newman 15. Paul Menard 16. Daniel Suarez 17. Alex Bowman 18. Ricky Stenhouse Jr. 19. Clint Bowyer 20. Erik Jones 21. Denny Hamlin 22. Michael McDowell 23. Kurt Busch 24. Aric Almirola 25. Chris Buescher 26. Kasey Kahne 27. Austin Dillon 28. David Ragan 29. Gray Gauldin 30. Matt DiBenedetto 31. Ty Dillon 32. Cole Whitt 33. Justin Marks 34. Parker Kligerman 35. Bubba Wallace 36. Chris Cook 37. Tomy Drissi 38. Cody Ware

– – – – – – –

Nick Bromberg is a writer for Yahoo Sports.

Follow @NickBromberg on Twitter

More from Yahoo Sports: • Father pulls son from fiery local NASCAR wreck, gets probation from track • LaVar’s master plan foiled as LiAngelo doesn’t get drafted • Sixth cheerleader sues Texans, says coach duct-taped her body • Mexico maintains perfect World Cup start

[dreambackyardbuilders]

5 Small Patio Ideas

Create Zones

Designating “zones” for different functions can actually make a small space seem larger—try separating a small backyard with a sitting area, a bar station, and even a tiny garden display. “This is all about maximizing square footage by creating zones whenever possible,” says interior designer Caitlin Murray of Black Lacquer Design. “For a tiny patio, I believe it’s better to have various smaller-scaled furniture that serves different purposes—so a bistro table for dining and a small outdoor loveseat for lounging, rather than choosing between a large sofa or a dining setup for six. You’re likely going to want the best of both worlds and splitting the difference somehow makes the space bigger.”

Invest In Multifunctional Pieces

With limited square footage, aim for furniture that can do double duty. “Look for small-scale multifunctional pieces that can also brighten up your space,” says Mia Jung, director of interiors at Ike Kligerman Barkley. “A small stool can hold your morning coffee when solo, or double as extra seating when you have friends over.” But you might want to ditch the bulky pieces: “Carefully select furniture for tiny patios,” says interior designer James Wheeler of J. Wheeler Designs. Use slipper chairs rather than traditional armchairs—the absence of arms keeps the area open.”

Try a Vertical Hanging Garden

“When you have a small outdoor space, consider going vertical with your plants,” says Chris Lambton, professional landscaper and host of DIY Network’s Yard Crashers. “There are a number of DIY projects and products available to help you achieve a vertical garden. Fill the space with colorful flowers, vines, and herbs.” If you don’t have much of a green thumb, interior designer Kyle Schuneman has a solution: “I love hanging planters because it gives you greenery without taking up precious floor space.” If you do have enough square footage to add a floor plant or two, or you have some surface area to display potted plants, experiment with scale and dimension. “Adding planters of varying height to a small patio or balcony gives the sense of a larger space by directing the eye in different directions and creating interest on different levels,” says interior designer Amanda Reynal of Amanda Reynal Interiors.

Don’t Forget About Lighting

You don’t want to leave yourself (or your guests) in the dark. “I’ve always loved table lamps on porches,” says interior designer Dana Gibson. “Even on a small porch, a table lamp adds ambience and makes the space at night even more magical and cozy.” If you don’t have a spot to place a lamp, you can also opt for outdoor string lights, which still lend a dreamy effect and create the perfect atmosphere for enjoying that summer nighttime air.

Accessorize

Personalize your outdoor space with colorful and unique décor accents. “Adding a small outdoor rug can make the space feel like an extra room,” says Jung. “Add a small plant or two and you’re ready to enjoy summer!” And pile on the pillows: “I’m a big fan of comfy pillows for hard outdoor furniture, which can make your little slice of the outdoors an open-air living room,” says designer and event planner David Stark. “My trick? I cut up and sew inexpensive terry cloth bath and beach towels to create pillows. When the need arises, you can just throw the pillowcases in the washer and dryer.”

This article was originally written by Sarah Yang and appeared first on www.RealSimple.com

5 Small Patio Ideas was re-posted from www.DreamBackyardBuilders.com

[tortuga-aak]

Credit Suisse just hired 2 top research analysts away from UBS, and it establishes a clear trend

REUTERS/Stefano Rellandini/File Photo

Credit Suisse hired two top research analysts away from UBS.

Doug Mitchelson joins the bank as managing director in equity research covering the media, cable/satellite, and telecommunications sectors. Brian Russo joins as a vice president working in the same sector. 

The bank has now hired at least six managing directors in research from UBS recent months. They're part of a wave of hires the bank has recently made to beef up its research division. 

Credit Suisse has hired two high-level equity research analysts away from Swiss rival UBS, part of a wave of hires the bank has made in recent months to load up on research firepower. 

Doug Mitchelson joins the bank as managing director in equity research covering the media, cable/satellite, and telecommunications sectors, according to a memo seen by Business Insider.

Previously he worked for three years at UBS as a senior media analyst and before that spent 17 years as an analyst with Deutsche Bank.

"Given the increasing convergence and consolidation of these sectors, we believe having a single, combined team allows for synergies and deeper insights," David Bleustein, head of research in the Americas for Credit Suisse, wrote in the memo. "Doug brings significant experience to this role having spent over 20 years as a sell-side analyst covering the Media and Cable/Satellite sectors."

Mitchelson joins Brian Russo, who was recently hired as a vice president covering the same sector. He worked with Mitchelson in media equity research at UBS before joining Credit Suisse, and Deutsche Bank before that. 

A Credit Suisse spokesman confirmed the hires.

Bleustein himself was hired this summer from UBS, where he started as an industrials analyst in 1999 and ran the equity research divsion in the US since 2008. 

The bank has only ramped up its investment in research since.

Other managing directors in research that have joined Credit Suisse since the summer include:

Jonathan Golub, chief US equity strategist

Marty Auster, mid- and small-cap biotechnology analyst

AJ Rice, managed care and healthcare facilities

Michael Binetti, softlines and department stores

Bill Featherston, energy exploration and production and integrated oil

Kristina Kazarian, master limited partnerships and refiners

Andrew Kligerman, life insurance

Of that group, all but one worked at UBS in the past four years, and four joined directly from UBS. Given the hire of Bleustein from UBS, and the hire of Mitchelson, that means Credit Suisse has now hired at least six managing directors in research from UBS in recent months.

 The rash of research hires comes ahead of new European regulations set to go live in January — known as MiFID II — that are expected to result in slashed research budgets across Wall Street. 

Mary Erdoes, the head of JPMorgan's $1.9 trillion asset and wealth management business, recently explained the impacts and looming industry cuts to a room full of analysts at a conference.

"On the buy side, the larger firms will absorb the costs and figure out how that cascades its way through," Erdoes said. "It probably means they'll tighten up a lot on what they spend on sell-side research, which is why the two go hand in hand."

Erdoes plainly laid out what happens next: "I was dealing with 10 of you; I don't want 10 of you anymore, I only want the five best of you." 

NOW WATCH: We just got a super smart and simple explanation of what a bitcoin fork actually is

from Feedburner http://ift.tt/2irMbuu

[foursprout-blog]

Credit Suisse just hired 2 top research analysts away from UBS, and it establishes a clear trend

New Post has been published on http://foursprout.com/wealth/credit-suisse-just-hired-2-top-research-analysts-away-from-ubs-and-it-establishes-a-clear-trend/

Credit Suisse just hired 2 top research analysts away from UBS, and it establishes a clear trend

Credit Suisse hired two top research analysts away from UBS.

Doug Mitchelson joins the bank as managing director in equity research covering the media, cable/satellite, and telecommunications sectors. Brian Russo joins as a vice president working in the same sector. 

The bank has now hired at least six managing directors in research from UBS recent months. They’re part of a wave of hires the bank has recently made to beef up its research division. 

Credit Suisse has hired two high-level equity research analysts away from Swiss rival UBS, part of a wave of hires the bank has made in recent months to load up on research firepower. 

Doug Mitchelson joins the bank as managing director in equity research covering the media, cable/satellite, and telecommunications sectors, according to a memo seen by Business Insider.

Previously he worked for three years at UBS as a senior media analyst and before that spent 17 years as an analyst with Deutsche Bank.

“Given the increasing convergence and consolidation of these sectors, we believe having a single, combined team allows for synergies and deeper insights,” David Bleustein, head of research in the Americas for Credit Suisse, wrote in the memo. “Doug brings significant experience to this role having spent over 20 years as a sell-side analyst covering the Media and Cable/Satellite sectors.”

Mitchelson joins Brian Russo, who was recently hired as a vice president covering the same sector. He worked with Mitchelson in media equity research at UBS before joining Credit Suisse, and Deutsche Bank before that. 

A Credit Suisse spokesman confirmed the hires.

Bleustein himself was hired this summer from UBS, where he started as an industrials analyst in 1999 and ran the equity research divsion in the US since 2008. 

The bank has only ramped up its investment in research since.

Other managing directors in research that have joined Credit Suisse since the summer include:

Jonathan Golub, chief US equity strategist

Marty Auster, mid- and small-cap biotechnology analyst

AJ Rice, managed care and healthcare facilities

Michael Binetti, softlines and department stores

Bill Featherston, energy exploration and production and integrated oil

Kristina Kazarian, master limited partnerships and refiners

Andrew Kligerman, life insurance

Of that group, all but one worked at UBS in the past four years, and four joined directly from UBS. Given the hire of Bleustein from UBS, and the hire of Mitchelson, that means Credit Suisse has now hired at least six managing directors in research from UBS in recent months.

 The rash of research hires comes ahead of new European regulations set to go live in January — known as MiFID II — that are expected to result in slashed research budgets across Wall Street. 

Mary Erdoes, the head of JPMorgan’s $1.9 trillion asset and wealth management business, recently explained the impacts and looming industry cuts to a room full of analysts at a conference.

“On the buy side, the larger firms will absorb the costs and figure out how that cascades its way through,” Erdoes said. “It probably means they’ll tighten up a lot on what they spend on sell-side research, which is why the two go hand in hand.”

Erdoes plainly laid out what happens next: “I was dealing with 10 of you; I don’t want 10 of you anymore, I only want the five best of you.” 

Join the conversation about this story »

NOW WATCH: We talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now

[pavel-nosok]

Trump Regime Installs Conspiracy Theorist to Help Build Propaganda Network With Taxpayer Money The U.S. Agency for Global Media, a government-run news company that traces its roots to the first Cold War, has hired far-right commentator and conspiracy theorist Frank Wuco, according to a new report from Politico. It’s just the latest sign that President Donald Trump is attempting to build his own media empire… Read more...

[yahoo-from-the-marbles-blog]

Kyle Busch dominates for Coca-Cola 600 victory

Kyle Busch (18) drives his car out of Turn 4 during the NASCAR Cup Series auto race at Charlotte Motor Speedway in Charlotte, N.C., Sunday, May 27, 2018. (AP Photo/Chuck Burton)

Kyle Busch has now won at every track he’s raced at in NASCAR’s Cup Series.

Busch was unbeatable during Sunday’s Coca-Cola 600 and scored his first points win at Charlotte Motor Speedway. The win means there’s not one track

on the Cup schedule where Busch hasn’t won at. It’s an impressive feat; no other driver in the Cup Series can claim such an accomplishment. Busch led 377 of the races 400 laps.

Busch started on the pole and lost the lead early to Joey Logano. That was about the only time he didn’t have he lead. He won each of the first three stages of the race and sprinted out to a nearly six-second win over defending Cup Series champion Martin Truex Jr.

Busch won the 2017 All-Star Race at Charlotte for his first win in a Cup Series car at the track. But it wasn’t a points win, so it didn’t officially count. Sunday does, and he now has 47 Cup Series wins spread across 23 Cup Series tracks.

For perspective, Richard Petty — the all-time Cup Series win leader with 200 — made five or more starts at five different tracks without a win. Busch has 13 or more starts at every track but Kentucky Speedway, so it’s not an apples-to-apples comparison. But Busch’s accomplishment is proof of how diverse he is as a driver.

With four victories, Busch is also just one win behind Kevin Harvick for the series lead. Harvick started at the back on Sunday and worked his way to the front in the first stage. But an apparent flat left-front tire forced Harvick’s car into the wall and he ended up finishing last. It was the first time in Harvick’s NASCAR career that he finished last.

  Full results:

1. Kyle Busch 2. Martin Truex Jr. 3. Denny Hamlin 4. Brad Keselowski 5. Jimmie Johnson 6. Jamie McMurray 7. Kyle Larson 8. Kurt Busch 9. Alex Bowman 10. Ricky Stenhouse Jr. 11. Chase Elliott 12. Clint Bowyer 13. Aric Almirola 14. Paul Menard 15. Daniel Suarez 16. Darrell Wallace Jr. 17. Matt Kenseth 18. Michael McDowell 19. Erik Jones 20. Kasey Kahne 21. Ty Dillon 22. Joey Logano 23. AJ Allmendinger 24. Ross Chastain 25. David Ragan 26. Corey LaJoie 27. Parker Kligerman 28. Landon Cassill 29. Chris Buescher 30. Jeffrey Earnhardt 31. Gray Gaulding 32. Timmy Hill 33. BJ McLeod 34. Austin Dillon 35. Ryan Newman 26. Ryan Blaney 37. Matt DiBenedetto 38. JJ Yeley 39. William Byron 40. Kevin Harvick

– – – – – – –

Nick Bromberg is a writer for Yahoo Sports.

Follow @NickBromberg on Twitter

[tortuga-aak]

Credit Suisse just hired 2 top research analysts away from UBS, and it establishes a clear trend

REUTERS/Stefano Rellandini/File Photo

Credit Suisse hired two top research analysts away from UBS.

Doug Mitchelson joins the bank as managing director in equity research covering the media, cable/satellite, and telecommunications sectors. Brian Russo joins as a vice president working in the same sector. 

The bank has now hired at least six managing directors in research from UBS recent months. They're part of a wave of hires the bank has recently made to beef up its research division. 

Credit Suisse has hired two high-level equity research analysts away from Swiss rival UBS, part of a wave of hires the bank has made in recent months to load up on research firepower. 

Doug Mitchelson joins the bank as managing director in equity research covering the media, cable/satellite, and telecommunications sectors, according to a memo seen by Business Insider.

Previously he worked for three years at UBS as a senior media analyst and before that spent 17 years as an analyst with Deutsche Bank.

"Given the increasing convergence and consolidation of these sectors, we believe having a single, combined team allows for synergies and deeper insights," David Bleustein, head of research in the Americas for Credit Suisse, wrote in the memo. "Doug brings significant experience to this role having spent over 20 years as a sell-side analyst covering the Media and Cable/Satellite sectors."

Mitchelson joins Brian Russo, who was recently hired as a vice president covering the same sector. He worked with Mitchelson in media equity research at UBS before joining Credit Suisse, and Deutsche Bank before that. 

A Credit Suisse spokesman confirmed the hires.

Bleustein himself was hired this summer from UBS, where he started as an industrials analyst in 1999 and ran the equity research divsion in the US since 2008. 

The bank has only ramped up its investment in research since.

Other managing directors in research that have joined Credit Suisse since the summer include:

Jonathan Golub, chief US equity strategist

Marty Auster, mid- and small-cap biotechnology analyst

AJ Rice, managed care and healthcare facilities

Michael Binetti, softlines and department stores

Bill Featherston, energy exploration and production and integrated oil

Kristina Kazarian, master limited partnerships and refiners

Andrew Kligerman, life insurance

Of that group, all but one worked at UBS in the past four years, and four joined directly from UBS. Given the hire of Bleustein from UBS, and the hire of Mitchelson, that means Credit Suisse has now hired at least six managing directors in research from UBS in recent months.

 The rash of research hires comes ahead of new European regulations set to go live in January — known as MiFID II — that are expected to result in slashed research budgets across Wall Street. 

Mary Erdoes, the head of JPMorgan's $1.9 trillion asset and wealth management business, recently explained the impacts and looming industry cuts to a room full of analysts at a conference.

"On the buy side, the larger firms will absorb the costs and figure out how that cascades its way through," Erdoes said. "It probably means they'll tighten up a lot on what they spend on sell-side research, which is why the two go hand in hand."

Erdoes plainly laid out what happens next: "I was dealing with 10 of you; I don't want 10 of you anymore, I only want the five best of you." 

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