Marketplace for Thursday, October 24, 2013
After the Deepwater Horizon debacle, the Obama administration decided that it would integrate all complex contracts in-house, and have one person coordinate big projects like that. It hasn’t worked, mainly because the very people who are qualified to do that job, would rather make the big money in the private sector. Cable television nearly did in TV Guide Magazine. But a few years ago a private-equity firm took it over and remade it. And German Chancellor Angela Merkel is outraged at possible bugging of her mobile phone by the U.S. European leaders meeting in Brussels will discuss how to respond to allegations of U.S. spying. Possible retaliations include suspending the transfer of bank data and withdrawal of cooperation on an EU-U.S. free trade deal.