The Note in Your Pocket Is on the Other Side of the Balance Sheet
The note in your wallet is a liability of the institution whose balance sheet was the…
Category: Business
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Noncompetes Are Defended as Protecting Secrets. Look at Who Signs Them.
Noncompetes are defended as protecting trade secrets. They are signed by hairdressers and camp counselors, and…
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Two Surveys, One Headline, and a Recession That Kept Not Arriving
The monthly jobs number is two separate surveys with error bars nobody prints, compared against a…
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For Eight Years the Price of Money in Japan Was Less Than Nothing
For eight years a bank leaving money at the Bank of Japan got back less than…
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The Rule Will Produce a Number. The Number Will Not Be a Company’s Emissions.
The SEC’s climate rule dropped Scope 3, which for most companies is nearly all of it.…
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Capital One Is Not Buying a Card Business. It Is Buying a Road.
Thirty five billion dollars buys an ordinary loan book, an overlapping customer base, and one of…
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The Building Is the Collateral, and the Building Cannot Raise the Rent
A six-story brick walkup in Queens, fully occupied and paying rent on the first, is the…
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What It Takes to Ground a Fleet, and Who Actually Decides
A door plug left a 737 over Oregon on 5 January and the type has been…
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Remote Work Grew Up. The Rules Are Still in Middle School.
The great work-from-home experiment ended and nobody won the argument. What remains is a harder question:…