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Marketplace Scratch Pad

Morning Reading

Scott Jagow Oct 6, 2009

Good morning. Today, why unemployment is higher than the numbers say. Casinos have decided to save their money. Predictions of a bloodbath in the fourth quarter. And you may already be drinking boxed wine and not even know it.

Unemployment rate is much higher than 9.8% (Washington Times)

Feeling sorry for Ken Lewis? Don’t. (Marketwatch)

Pals of Ken Lewis, the Bank of America chief executive who suddenly quit last week, are saying that the executive has become “deeply disappointed in the system.”

You couldn’t make it up. The head of America’s biggest bank thinks he got ripped off.

The real economy is dying. Banking bloodbath in the fourth quarter (Naked Capitalism)

Vegas casinos are sobering up (Wall Street Journal)

After a six-year building frenzy that transformed this city, casino companies are shifting strategies dramatically toward slower growth, paying down debt and cutting back on spending.

Many casino executives don’t expect to break ground on another major building project in Las Vegas for at least 10 years…

“The last period was one where people were drunk on the use of capital and used it to solve every problem. Clearly that can’t continue.”

You might already be drinking boxed wine (The Wine Economist)

The Supremes will focus on business (PBS NewsHour)

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