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Cash Before Cures

MIA in the War on Cancer

The Daily Beast

Big Pharma’s focus on blockbuster cancer drugs squeezes out cheaper treatments. The result, one researcher says: ‘If we’re winning the war on cancer, we’re not winning that fast.’

Michael Retsky awoke from surgery to bad news. The tumor in his colon had spread to four of his lymph nodes and penetrated the bowel wall. When Retsky showed the pathology report to William Hrushesky, his treating oncologist, the doctor exclaimed, “Mamma mia.”“Michael had a mean-looking cancer,” Hrushesky remembers.Retsky didn’t need anyone to tell him his prognosis. Although trained as a physicist, he had switched careers to cancer research in the early 1980s and spent more than a decade modeling the growth of breast cancer tumors.

MMM

We’ve Hit Peak Food Trolling

Courtesy Domino's

Fast-food companies’ crazy concoctions are meant for your eyes and ears more than your stomach.

Fast-foodies rejoice! Domino’s pizza, the purveyor of cheap bread-based fuel, has just launched an exciting new product: Specialty Chicken. This new entrant to the menus consists of breaded chicken nuggets topped with cheese and sauces, including Crispy Bacon & Tomato and Spicy Jalapeno-Pineapple. “Our new Specialty Chicken is one of the most creative, innovative menu items we have ever had,” said Russell Weiner, Domino’s Pizza chief marketing officer, said in a press release.

Not Enough

The 'Anti-Gay' Ratings Racket

The Daily Beast

GM, yes. Washington Post, no? The Human Rights Campaign’s standards for corporate America’s gay-friendliness have modernized—but it’s evaluation methods haven’t.

On April 1, the Human Rights Campaign Foundation honored more than 300 major employers at the 12th Annual LGBT Workplace Awards Reception.  Some of the biggest names in corporate America were celebrated at the gala event, including AT&T, Viacom, Nike, and Boeing. Even companies that have recently faced criticism for ethically questionable business practices were honored, including Bank of America, Pfizer, Monsanto, and General Motors.All of these companies earned their spots at the dinner at the Time Warner Center in New York City by receiving a perfect score of 100 percent on HRC’s Corporate Equality Index.

MONEY TALKS

Inside Putin's Recession

Maxim Shemetov/Reuters

The Russian leader may have won some accolades for his decisiveness, strength, and overall toughness, but it’s hard to be an assertive global power when yours is the only major economy that’s shrinking.

This a pretty benign time for the global economy. Interest rates are uniformly low. The U.S., China, and Japan—the three largest economies in the world—are all growing. Developing markets in Africa are surging. The European debt crisis seems to have ended. In this climate, one of the only ways to get a recession is to engineer one.Which is precisely the trick Vladimir Putin may have just pulled off with Russia’s $2 trillion economy. And his adventurism may already have cost the Russian economy about $40 billion.

That Was Easy

Congress: Hail Our Media Overlords

Andrew Harrer/Bloomberg

Those expecting Comcast to be on the ropes at a Senate hearing Wednesday into its multibillion-dollar merger with Time Warner Cable were in for a surprise. The company batted off concerns over rising prices and the detrimental effects on competition and consumer choice.

For much of Wednesday’s Senate hearing into the proposed $45.2 billion merger of the nation’s two biggest cable television and Internet service providers, Comcast and Time Warner Cable, David Cohen wore a tiny smile.The round, open face of Comcast’s top lobbyist and spin doctor—framed by non-threatening wire-rimmed specs—formed itself into a cat-who-ate-the-canary grin, even as various senators, both Democrats and Republicans, raised questions about the troubling impact such a corporate fusion will have on competition and consumer choices, along with rising prices.

Breaking: Trend Stories Are B.S.

Todd Heisler/The New York Times, via Redux

When a phrase like ‘The Knockout Game,’ ‘Crack Babies,’ or ‘Super Predators’ is dubbed in the media, the story takes on a life of its own, with the name itself in the starring role.

In a matter of weeks last fall, several Brooklyn residents—from a 78-year-old woman to a 19-year-old man—were attacked in the street with a swift “knock out” blow to the head. The randomness and regularity of the crimes immediately sparked speculation that it was part of “The Knockout Game,” a phrase initially coined more than 20 years ago when a Norwegian MIT student was walking with a friend when three teenage assailants punched both of them, and then fatally stabbed one.

Silicon Valley: You’re All Fools

The Daily Beast

When companies like Facebook drop billions on companies with no revenue but plenty of world changing hype, you know things are getting out of hand.

Be careful, investors. It’s getting bubbly out there.In a book published several years ago, a shrewd author (OK, me) laid out the stages of investment bubbles: a few solid years of impressive fundamental growth give way to highly ambitious projections and world-changing proclamations; a host of new entrants run onto the field, oblivious to profits or many of the other basics of running a business; individuals and naïve corporations start to get in on the action with bold, aggressive moves; and in the most dangerous stage, the phenomenon crosses over into popular culture—i.

Woman Power

Christine Lagarde’s Tightrope Act

Stephen Jaffe/IMF, via Getty

The International Monetary Fund chief runs the famously bureaucratic organization in a collegial fashion even as she challenges orthodoxy. On the eve of her appearance at the Women in the World summit, Daniel Gross explains the critical role she plays in the global economy.

The 21st century dispute between Europe and Russia over the Crimea won’t include another Charge of the Light Brigade. But the financial cavalry did come riding to the rescue, in the form of the International Monetary Fund.In late March, the IMF agreed to offer between $14 billion and $18 billion of funding and support to Ukraine’s government, as it attempts to wean itself from the cheap financing and energy that Russia had used to keep the former Ukrainian government firmly in its thrall.

Irony

Does ‘Ebony’ Condone Bigotry?

Getty

A senior editor tweeted at an African-American, calling him a “White dude” that shouldn’t tell her “how to do this Black thing” because he’s conservative.

Another day, another disgusting display of racism—once again at the hands of a supposed enlightened black person attacking a black conservative for his political beliefs.  Apparently in the era of  “Hope and Change” one cannot be authentically black unless they are a progressive Democrat blindly cheering on the agenda of “The One” without pause for reflection on how the immediate and long-term policies of President Obama could harm, rather than help the lives of the Americans he was elected to serve.

SHOW BUSINESS

The ‘Money Honey’ Moves On

Mark Lennihan/AP

Famous as the 'Money Honey,' Maria Bartiromo is about to begin a Sunday morning show on the Fox News Channel—but not before firing a ringing broadside at her former CNBC bosses.

The “Money Honey” may have moved across the street--from CNBC to Fox--but she’s still the same hyper-competitive, no-nonsense, Brooklyn-born business enthusiast that viewers have come to know as Maria Bartiromo.“I’m not changing,” the 46-year-old financial news luminary told me on Thursday as she rode back from a sit-down with Ken Frazier, the chairman and CEO of the Merck pharmaceutical empire in the wilds of northern New Jersey. “I’ve always been competitive when it comes to interviews, and I intend to remain the same person.

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Shame on You, Walmart!

With an Ohio Walmart hosting a holiday food drive for its own workers, The Daily Beast's Michael Tomasky criticizes the notoriously stingy company for not paying them more.

  1. Obama Gets Credit for Stock Market Play

    Obama Gets Credit for Stock Market

  2. Twitter’s IPO: World Reacts Play

    Twitter’s IPO: World Reacts

  3. Phone Throwing App Is Awful Play

    Phone Throwing App Is Awful

Business

Daniel Gross

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Zohydro: Ticking Time Bomb?

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FDA-approved Zohydro is raising red flags in medical circles and consumer protection groups.

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Preppy Drug Bust High on Hype

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