Tag Archives: Markets coverage
by Chris Roush
David Jackson, the founder and CEO of SeekingAlpha.com, argues that investors who write about the markets are better than business journalists.
Jackson writes, “The same is true of investors. They are forced to recognize and avoid herd-thinking, because they live by the metric of investment returns, not pageviews. Investors are constantly scored by the market, unlike journalists who are rarely scored on their predictive accuracy. And investors can only generate abnormal returns with a non-consensus view of a stock, since stock prices embody consensus expectations. This leads to rigorous analysis and a drive to question existing narratives.
“I often wonder what would have happened if Seeking Alpha had existed before WorldCom and Enron melted down. The investors who publish on Seeking Alpha would probably have uncovered those frauds, just as they (and not the business journalists) uncovered this.
“Perhaps this explains why fundamental analysis of stocks by investors provides more original insight, both investment insight and business insight, than traditional journalism. It’s why Seeking Alpha is widely read by business leaders, not just investors.”
Read more here.
by Liz Hester
After hedge fund SAC Capital pled guilty to criminal and civil charges of profiting from inside information, the real stories examining the deal came out on Tuesday. Some of them were interesting.
Bloomberg Businessweek ran a story asking the question if the deal was actually good for the government:
During a press conference yesterday announcing a record settlement for insider trading with hedge fund SAC Capital, a reporter in the room asked the question that was on everyone’s mind: Is the fact that the fund’s founder Steven Cohen hasn’t been charged with anything a major disappointment?
Preet Bharara, the U.S. Attorney for the Southern District of New York and the man behind the podium, looked a touch peeved: “What has happened today is a very substantial and important thing—it is a rare thing for an entity to be held to account, and also rare to have it plead guilty, and also rare and unprecedented to pay the penalty,” he said. “We are not shy and retiring people, we are not unaggressive …”
Few people would argue that the government has been unaggressive in its pursuit of Cohen, whom the U.S. Securities and Exchange Commission, FBI, and U.S. Attorney’s Office have been investigating for years. But even after Cohen agreed to pay an additional $1.2 billion fine (on top of $600 million already owed to the SEC) to settle criminal charges that his firm engaged in insider trading, with SAC pleading guilty to all charges, Cohen faces no time behind bars. Instead the public may be left considering that a very wealthy individual is paying a large sum of money to the government and then going on with his life.
Unlike earlier times, think Michael Milken or more recently Raj Rajaratnam, Cohen isn’t going to jail and he isn’t going on trial. Businessweek makes a good point. The New York Times argued that corporations have been treated like individuals for a while, indicating that justice was served:
While Professor Burton is correct that only human beings can commit crimes, the notion that corporations are the same as individuals in the eyes of the law dates at least to an early 19th century Supreme Court case, which held that corporations, like people, can enter into contracts. That view was reaffirmed in the recent Citizens United case, which held that corporations are entitled to the free speech guarantees of the First Amendment.
The federal government has long prosecuted corporations whose managers engaged collectively in criminal behavior. “Corporations should not be treated leniently because of their artificial nature nor should they be subject to harsher treatment,” the Justice Department principles state. “Vigorous enforcement of the criminal laws against corporate wrongdoers, where appropriate, results in great benefits for law enforcement and the public.”
These benefits, according to Professor Friedman, include protecting the public, deterring similar unlawful conduct and what he called “expressive value,” which is the public statement that certain behavior should be subject to criminal sanction.
“There are many critics who will say, ‘You can’t incarcerate a corporation, so what’s the point?’ My view is, what they did, it was just as wrong, and by treating it as a criminal rather than civil matter, it makes an important statement about the seriousness of the wrongness.”
There’s surely no dispute that SAC Capital was the site of some of the most brazen and widespread insider trading in Wall Street history. In its plea agreement, the firm admitted committing five felonies. Six of the firms’ traders have pleaded guilty to securities fraud charges, and two more are awaiting trial in what the prosecutors have called a systemic insider trading scheme that spanned more than 10 years.
The Wall Street Journal chose to focus on the judge’s approval of the deal. If the deal is rejected, then SAC has the option to pull back its guilty plea:
When Judge Laura Taylor Swain examines the agreement as soon as Friday — the date of the next hearing – her only option will be to give the deal a thumb’s up or a thumb’s down. If she rejects the deal, SAC Capital can withdraw its guilty plea.
Yes, you heard that right. If Judge Swain decides the penalties aren’t stiff enough, SAC Capital can pretend the last two days never happened, re-assert its not-guilty status, and push on to trial.
But before we continue this discussion, let’s back up a second. The agreement reached on Monday was technically two separate deals – a criminal plea deal to be heard by Judge Swain on Friday, and a civil settlement to be heard by Judge Richard J. Sullivan at a hearing on Wednesday. As part of each deal, SAC has agreed to cough up $900 million. In the criminal case, that amount is cast as a fine and in the civil case it’s cast as an amount to be forfeited.
(One further note: SAC will get a credit against the $900 million civil forfeiture for $616 million that it’s already agreed to pay to settle related civil suits with the Securities & Exchange Commission.)
There’s more: In order for the criminal deal to make it to Judge Swain’s desk on Friday, Judge Sullivan has to first approve the civil settlement. That contingency is laid out in the plea agreement. While legal experts following the case say that Judge Sullivan’s approval is highly likely, Judge Sullivan himself threw some doubt into things on Tuesday when he said he would not necessarily rubber-stamp the civil deal.
But the story points out SAC isn’t off the hook if the deal is rejected. It just means that it can go back and renegotiate or head to trial. The saga continues as we wait to see what the judges will decide.
by Chris Roush
With the Twitter initial public offering expected to price and begin trading later this week, business journalists have been voracious in their coverage of the story.
Carl Quintanilla is one of the principal anchors of CNBC’s “Squawk on the Street,” which broadcasts live from the New York Stock Exchange.
Since joining the network in 1999, Quintanilla has covered a wide range of stories for both CNBC and NBC News, where he was a New York- and Chicago-based correspondent. He has covered the Beijing and London Olympics, the reconstruction of post-war Iraq and the 2004 U.S. presidential campaign. In 2005, he spent weeks in New Orleans as part of NBC’s team coverage of Hurricane Katrina, for which he shared a national Emmy, an RTNDA Edward R. Murrow Award and broadcast’s highest honor, the Peabody Award.
Prior to joining NBC, Quintanilla spent six years as a reporter for The Wall Street Journal. Quintanilla earned a bachelor’s degree in political science from the University of Colorado.
Quintanilla spoke by email with Talking Biz News about how he has been covering the Twitter IPO. What follows is an edited transcript.
How do you learn to cover an initial public offering?
Well, I don’t cover banking. CNBC has an army of talented reporters far better equipped to cover the IPO — Kayla Tausche, David Faber and Bob Pisani, just to name a few. But as an anchor (and former WSJ reporter), I know enough to be dangerous. It requires an eye for detail — knowing how to find tiny disclosures in amended S-1s, for instance. And there’s the reaching out to sources — market makers, bankers, attorneys, exchange officials — who have a hand in a complex process.
Since the company isn’t talking, how hard is it to report such a story?
The company IS talking — just in the form of SEC filings. The prospectus has always been a bit like a kimono being lifted. That’s certainly the case with Twitter, which was particularly coy leading up to this stage.
What did you learn from previous IPO stories that you’re now applying to the Twitter IPO story?
Obviously, everyone wants to draw lessons from Facebook. There are so many similarities: two companies, based in Silicon Valley, selling social media, becoming household names. I think much of the focus will be on the NYSE, though, and people will be reminded of how human interaction still serves an important function in capital markets. The image of the designated market maker on the NYSE floor this week will be a contrast to the computer issues we all remember on the morning Facebook began trading.
Would you agree that there doesn’t seem to be as much interest in this IPO as Facebook’s?
I think it’s commensurate with Twitter’s user penetration. Twitter has about one-fifth of Facebook’s user base. I’d argue the level of interest is at least one-fifth of Facebook’s IPO.
What is it like reading through the SEC documents that Twitter files to look for stories?
The stories jump off the page. Not just the metrics like revenue per user, but also the way in which those metrics are presented. They tell you a lot about a company. (Did you read the Groupon prospectus? They turned accounting into a black art, and it came back to bite them.)
What other sourcing do you use for this story?
I’ll never tell.
Why do you think IPOs of companies like Twitter and Facebook are such big business stories?
It’s a “coming out” — like a college player being drafted into the NFL or NBA. How’s the rookie received? What’s his first year like? It’s the beginning of a narrative: about whether this company has the “stuff” to play with the big boys — to weather the scrutiny of quarterly earnings, activist investors, Reg FD, and so on. There’s also something inherently interesting about watching capital being generated before your very eyes. That’s why IPOs are perfectly suited to live TV, which we obviously like a lot.
There was an IPO last week for The Container Store that saw a huge first-day pop but it didn’t seem to get as much coverage. Why do you think that’s the case?
Really? We thought it was a big story. There was a huge crowd on the NYSE floor. We interviewed the CEO after the stock opened up almost 100 percent. Maybe it’s because they’re still kind of an “unknown” to many people: only 63 stores in 22 states. That will change, though. Its plan is to expand to 300.
Do you see these stories as an indication that maybe the IPO market is turning around? If not, then what does it signify?
The IPO market has been red hot this year. End of story. The average IPO is up 16 percent on their first day of trading. That’s the biggest pop in at least a decade. If anything, I think people expect the IPO market to cool off, as we get closer to some form of tightening by the Federal Reserve (whenever that comes). The folks who came public this year were very smart, or very well advised.
What has CNBC been trying to focus on with its Twitter IPO coverage?
We always try to bring it home for the retail investor. Is this a stock you should buy if you have the chance? What kind of portfolio does it fit into? What does it say about the state of the overall market? As for myself, I reported the CNBC documentary, “#TwitterRevolution” earlier this year — and I just try to add as much context as I can about the company, itself. Twitter is the beneficiary of a lot of serendipity. One of my favorite sayings about the company is: “It’s the story of a handful of guys who drove their clown car into a gold mine.”
How hard is it to distinguish your coverage on a story like this that everyone seems to be covering?
Not hard at all, actually. No one in television knows the company like CNBC does. No one has covered it — from inside and out — like CNBC has. This is one of those weeks where the power of the network just speaks for itself.
by Chris Roush
The Toronto Globe and Mail announced Monday that it has added several investing features to the business section of its website.
A story on the Globe and Mail website stated, “These include a Portfolio so that you can find instant analysis on your investments from Canada’s most-award winning business newsroom. We also provide robust data sets that measure your portfolio’s performance to give you an at-a-glance report into the value of your wealth.
“To help you make more informed financial decisions, our Watchlist tracks news, analysis and insight on investment ideas that you are exploring. Investors interested in dividends can track yield, payout and long-term-growth ratios in Watchlist, as well as have dividends automatically reinvested in the purchase of new shares or the payout can be directed to a portfolio’s cash account.
“We’ve paired this with a powerful, stock-screening tool that lets you customize your research by filtering through over 50 criteria or chose one of four pre-made screens to find new opportunities and explore investment strategies that are right for you.
“You can further customize your portfolio with interactive charts that allow you to easily visualize and interpret stock data such as trends, momentum, peer performance and more. They’re fast, easy-to-use and packed with options.”
Read more here.
by Liz Hester
This is the week. The highly anticipated initial public offering for Twitter is likely to sell this week and the media was keen to advance the story. There were a couple of pieces about Twitter’s ability to sell more ads abroad.
Here’s the Wall Street Journal’s story:
Three-fourths of Twitter Inc. users are overseas. But only one-fourth of its revenue comes from non-U.S. advertisers.
To Twitter, that is a “substantial opportunity” as it readies to go public as soon as this week. But it will also be a big challenge to convert a global following into sales and profits.
Twitter’s international operations were a major topic of questions during a pre-IPO “roadshow” meeting with investors last Wednesday at the Mandarin Oriental hotel in New York, according to an investment manager who attended.
Analysts say the messaging service must mind cultural differences while promoting itself abroad. In Japan, for example, users tend to keep their accounts private and circle of followers small, while Brazilian users are public and liberally follow one another. It also must compete with popular local rivals, such as Sina Corp.’s Weibo in China, Japan’s Line and South Korea’s Kakao Inc.
Until recently, Twitter’s overseas growth was more spontaneous than by design. It attracted large numbers of users around events such as the Arab Spring and 2011 Japan earthquake. But many users drifted away when the news cooled, and Twitter was more focused on building out its U.S. business.
Now, Twitter is working on bringing users and advertisers outside the U.S. on board. In Korea, where it is introduced ads last Friday, it is trying to forge relationships with TV networks and advertising agencies.
The New York Times version of the story started with more of the hard numbers at the top:
The problem is, Twitter is still figuring out how to make money from those users abroad. The company received 26 percent of its total revenue from markets outside the United States in the third quarter, compared with around 17 percent at the end of last year, according to regulatory filings.
Turning that global popularity into international ad sales remains tricky for the company, which is based in San Francisco, as it nears an initial public offering of stock. Many overseas brands are more skeptical of the impact of social media advertising than their American counterparts, while Twitter faces stiff competition from local social media rivals like Line of Japan, which already has hundreds of millions of registered users across Asia.
Twitter also has yet to expand its foothold in many international markets. That includes the global debut of its self-service advertising system, begun in the United States in late 2011, which allows brands to buy ads without talking directly to a sales representative. The company plans to bring that system to a number of global markets, according to regulatory filings.
“Twitter is not quite there yet,” said Oliver Eriksson, head of strategy at the digital ad agency VML in London, whose clients include Microsoft and Gatorade. He said the company still had to prove to potential clients that its advertising platform could reach international consumers. “They need to do it quickly to give brands confidence that Twitter can add value,” Mr. Eriksson said.
That skepticism is reflected in Twitter’s ad sales outside the United States.
While Twitter’s highly publicized initial public offering is estimated to value the company at roughly $12 billion, it still remains a relatively small player in the world of digital advertising. Twitter is expected to grab just 0.5 percent, or $580 million, of the total spending on worldwide digital advertising this year, according to the research firm eMarketer. That compares to $6.4 billion that will probably be spent on its archrival Facebook in 2013.
For international brands, Twitter’s relatively small scale could prove a deterrent. Many companies, like Nestlé and Unilever, are looking to increase their advertising spending within social media as more consumers spend increasingly more time online. But analysts say that Twitter’s relatively small footprint makes it a harder sell.
Reuters reported that investors are watching to see if Twitter’s IPO takes the same course as Facebook’s:
The market will be on alert to see if Twitter follows the fate of last year’s botched Facebook Inc IPO: the social networking company’s stock hit the market in May 2012 and was plagued by allocation problems, trading glitches and a selloff. The shares did not recover the IPO price until a year later.
Views have been mixed on what investing strategy to take for Twitter’s IPO. According to a Reuters survey of 29 broker-dealers and independent advisers, 23 said they are not recommending Twitter shares. Only one said he would recommend it – and only to certain clients. Five others said they would wait to snap up the stock if it plunges after it begins to trade.
But while retail interest might be low, tech industry analysts say there is expected to be a good appetite for Twitter’s stock from institutional investors at the current valuation.
On Friday, Morningstar joined three other brokerages in setting price targets for Twitter Inc well above its IPO price range, suggesting the stock has room to rise at least 30 percent.
That’s a good sign for early investors, if you can get the stock, which USA Today reports isn’t likely:
Relatively few investors actually get allocated stock at the IPO price, while the rest are left to buy at whatever the market commands, and history has shown that highly hyped stocks (like Twitter) often command enormous prices relative to actual earnings.
Data compiled by Forbes shows that of all the IPOs priced since Sept. 12, 19 have returned over 20%, averaging a 69% gain over just a few weeks. On average, these stocks opened for trading on the day of their IPO at a price 49% higher than the IPO price and only experienced 9% further upside on average the rest of that trading session.
IPOs make great stories, especially since they offer the first look at previously undisclosed information. They don’t however typically make many regular people rich. But if Twitter can capitalize on it’s opportunities in markets outside the U.S., then it could make buy-and-hold investors some money in the long-term.
by Chris Roush
Francesco Guerrara, the finance and markets editor at The Wall Street Journal, sent out the following staff promotions on Thursday:
The Finance and Markets group has come a long way since Gerry identified us as the “guinea pig” of newsroom integration a few months ago. We are now operating as a unified group, serving all our real-time and print platforms and working ever more closely with our colleagues in Europe and Asia. Our reporters and editors must take the credit for the smooth integration and the great content they produce day in and day out or, more accurately, minute in, minute out.
As we proceeded through integration we made several key appointments which we never got to announce. It is worthwhile recapping them here.
Rob Hunter is named Banking Editor. Rob joined the WSJ in 2010 and for the past three years has been the Personal Finance Editor, overseeing the Weekend Investor print section and its online manifestations. In that capacity, Rob shepherded a steady flow of C1 stories and Page One projects on everything from Congressional insider trading and fund-manager window dressing to college- savings and retirement. His various assignments showcased Rob’s versatility and ability as an editor and a manager. Before the Journal, Rob worked at Bloomberg BusinessWeek, where he was assistant managing editor for features and, before that, senior editor for finance. He honed his skills at SmartMoney, where he was editor of the website. Before joining SmartMoney in 2000, he was Managing Editor of Derivatives Strategy magazine, so don’t mess with him when it comes to CDOs.
Aaron Lucchetti is named Deputy Banking Editor. Aaron’s move into editing comes after a distinguished career as a reporter. Aaron has worked at the Money & Investing section since 1996. Most recently, he covered banking and finance in New York, focusing on Morgan Stanley. Prior to his current assignment, Aaron wrote about technology and electronic trading on Wall Street, including breaking stories on the consolidation of global markets such as the New York Stock Exchange and the Chicago Mercantile Exchange. In 2009, Aaron and a group of Journal reporters won the Gerald Loeb Award in the Breaking News category for stories about the collapse of Lehman Brothers. The team of reporters also was named as a finalist for the 2009 Pulitzer Prize. In 2012, Aaron and a colleague won an award from the Society of Business Editors and Writers for online breaking news coverage of brokerage firm MF Global’s collapse in the fall of 2011.
Tim Layer is named Deputy Markets Desk Editor. Tim has been a mainstay of our editing desk ever since rejoining the Journal 2½ years ago. In his new role, he will continue to make stories better but also help Tim Annett to run the desk. Tim has been with Dow Jones and the Journal for 24 years total. Before rejoining the WSJ he ran his own niche publishing business for 6½ years. Before that, he was WSJ bureau chief for commercial real estate and was national Technology editor in the late 90s. In the mid-90s, Tim was news editor of the groundbreaking Dow Jones Investor Network, the world’s first financial news service to stream live audio on the Web. He was Deputy Managing Editor of the WSJE, based in Brussels, in the early 90s. Tim started out as a copyreader on the Monitor Desk. Importantly, he plays a mean guitar for the Six Stars band.
Brad Reagan is named Investing Editor. A Texas native, Brad worked at the Waco Tribune-Herald and Austin American-Statesman before joining the Wall Street Journal for the first time in 1999. He left the paper for a soon-to-fail dot-com (and wrote about the experience for the Journal) and then shifted to writing books on subjects including professional poker players and songwriter Billy Joe Shaver. He also had stints at SmartMoney magazine and The National newspaper in Abu Dhabi before returning to the Journal in 2011. Brad is a gifted editor with an incredible ability to make stories sing. That’s evident in both his own writing – see his excellent pieces for WSJ Money recently – and the copy he touches.
Brendan Intindola is named Deputy Investing Editor. Brendan is the rare journalist that has experienced life on the other side of the tracks. He worked at Reuters for 11 ½ years , covering, among other things, equity markets, corporate governance and Wall Street. From there, he moved to the NYSE and Finra, the Wall Street regulator. He also spent time in communications at a large international law firm before joining Dow Jones in September 2011 as deputy editor overseeing the U.S. stocks team. In the spring of 2012, he moved over to oversee the wire’s financial-services coverage. His passion for careful nurturing of both stories and reporters is reflected in his hobby: arborism.
Robert Sabat is named Personal Finance Editor. Bob was deputy personal finance editor for the past three years. Before that, he was an editor at Personal Journal, where he edited a wide range of stories, ranging from the wealth-management “class system” to Ruth Simon’s prescient stories on the mortgage bubble and Jeff Zaslow’s Moving On column. Before coming to the Journal, he was an editor at magazines including SmartMoney, Interview, GQ and Us Weekly. As a result, he actually knows what life outside financial journalism is like. Bob is a terrific editor with a keen eye for art and layout. His calm under pressure is legendary as is his good humor.
Please join us in congratulating the new appointees and wishing them well in their roles.
by Chris Roush
Dan Primack of Fortune argues that business journalists should be allowed to attend a company’s road show meetings with potential investors in its initial public offering.
Primack writes, “To be clear, I’m not accusing Twitter or any other company of surreptitiously breaking the rules. I’m accusing them all of participating in business-as-usual, which is de facto breaking the rules.
“My solution: Let reporters attend the roadshow meetings.
“If a company isn’t saying anything it should be, then what exactly is the harm? The benefit would be twofold: (1) Ensure that such shadiness is not occurring, and (b) Expanding the reach of the company’s message, including to investors who weren’t lucky enough (or in the right city) to get a chicken and tea invite.
“If you don’t want to let reporters ask questions, fine. Just like most companies prevent them from doing so during quarterly earnings calls. But you’d never see a publicly-traded company prevent reporters from listening to such calls. You know, because it’s publicly-traded. Since that’s the same intent here, it seems that banning media is a needlessly secretive vestige of a company that isn’t entirely prepared to enter the public realm.
“So let us in. Not because it helps us out. But because it’s the right thing to do by your future investors. All of them, not just the chosen few.”
Read more here.
by Chris Roush
Liam Denning, an editor for the “Heard on the Street” column of The Wall Street Journal, sent out the following staff announcement Monday:
We are pleased to announce that Dan Gallagher is joining the Heard on the Street column, writing financial commentary on the technology sector.
Dan joins us from MarketWatch, where he has been tech editor since July 2007. As well as overseeing tech coverage there, Dan led the creation of a data news team and has covered everything from Apple to the video-games industry. His years of experience take in the birth of the smartphone industry as well as the decline and fall of those companies that pioneered it.
A native Californian, Dan began his career in San Diego at the Daily Transcript, where he covered tech and biotech. Prior to joining MarketWatch, he wrote for the East Bay Business Times, where he reported on Bay Area tech firms, including Oracle’s colossal battle to buy PeopleSoft. He is a graduate of Brigham Young University.
Dan will remain based in San Francisco, and will begin writing for the Heard in early November. You can follow him on twitter at @MWDanGallagher
Please join us in welcoming Dan to his new role.
by Chris Roush
Business journalists Evan Cooper and Dan Jamieson have both left Investment News, which is a Crain publication, reports Brooke Southall of RIABiz.com.
Southall writes, “Cooper, the head of custom content, and Jamieson, the West Coast-based senior reporter for the New York-based publication, left this month — and their replacements are on the way, according to Suzanne Siracuse, publisher of InvestmentNews.
“‘We are replacing both Evan and Dan … we are not reducing head count at all. On the contrary, Evan got an opportunity and decided it was a better fit for him,’ Siracuse writes in an e-mail.
“‘As [for Dan], we wanted that beat in New York and he didn’t want to move. Both left on fine terms. We have a new reporter … starting on Monday. We are actively searching for Evan’s replacement as we have a thriving and growing custom business that needs a full-time director.’”
Read more here. Jamieson is now editor-at-large for Financial Advisor, a monthly magazine, Cooper is now overseeing editorial operations for Asset TV, a United Kingdom-based company that helps produce paid video content.
by Chris Roush
Carole Vaporean, a Reuters reporter covering the commodities markets, is leaving the news organization after 26 years.
In an email to Talking Biz News, Vaporean writes:
After 26 years slogging it out as a financial reporter for Reuters, I decided to move on to expand on my 10-year commitment to women’s global empowerment. Over the years, I covered Federal Reserve policy, U.S. and international economics, developed an expertise in technical analysis forecasting of financial and commodity markets, that included a column on foreign exchange markets. I helped start two corporate bond market desks and covered Treasury securities, money market securities and Foreign Sovereign debt, as well as various stock and commodity markets, like gold, oil, industrial metals, and agricultural products.
While I have conducted innumerable executive interviews, some of the most notable included a chat with Playboy CEO Christie Heffner, a brief Q&A with former Federal Reserve vice chair Alice Rivlin while smashed against each other in a packed elevator and a moment of truth when a female competitor chased New York Federal Reserve President Bill McDonough into the men’s room at the Waldorf Astoria, which is where I drew the line on how far I’d go to get the story. The irony, he gave me the interview when he emerged from the men’s room and a sea of disappointed journalists that had swallowed up my competitor. After returning from a two-year sabbatical to earn my MBA from William and Mary, I moved to Reuters nascent TV operation to help develop and produce some of the shows that would become its bread-and-butter programming. Eventually, I returned to writing, reporting and editing.
I’ve lived through Reuters’ many transformations, but was finally made an offer I could not refuse that allows me to create the next phase of my very active life. I see the rapid social and environmental change happening in the world and feel that I can make a greater impact writing about those issues and trends going forward. For the last 10 years, I have worked tirelessly with organizations committed to global empowerment of women and want to further those efforts, as well. Fate will dictate my steps from here, as I continue to practice gratitude, grace and generosity.