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Mid-day Update

PODCAST: Chesapeake Energy CEO to step down and a step up for airline tea time

Mark Garrison Jan 30, 2013
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Mid-day Update

PODCAST: Chesapeake Energy CEO to step down and a step up for airline tea time

Mark Garrison Jan 30, 2013
HTML EMBED:
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Today, the odd sport of Fed watching, the end of a natural gas giant, and reengineering tea for jet travel.

This afternoon, the markets will weigh in on the latest announcement from the Fed. It wraps up its two-day meeting today. But don’t expect surprises. The Fed has said before it’ll keep interest rates super-low until the jobless rate dips below 6.5 percent. And it hasn’t. Yet, traders still eagerly await the Fed’s words. It’s the complicated and unusual business of Fed watching.

The head of a natural gas giant and leader in the controversial technique known as fracking is stepping down. After a rocky tenure that included investigations, accusations involving bid-rigging and shady loans, Chesapeake Energy CEO Aubrey McClendon announced he is retiring.

There are few joys in flying these days, unless you’re lucky enough to be in first class. But even those of us in coach can usually enjoy the simple pleasure of a hot cup of tea without getting smacked with a surcharge. The problem is, tea apparently doesn’t taste quite as good at 35,000 feet. This, of course, is a major problem for discerning British flyers. So British Airways and a major tea company are joining forces to produce a special tea for airborne sippers.

Also in the news: New numbers out today show America’s economy shrank 0.1 percent last quarter. Much of that was due to decreased military spending. On the brighter side, the report shows growth in consumer spending and business investment. And there’s a €1,000 prize for information on an enormous missing cookie. And it just might be held for ransom by a Cookie Monster enthusiast. Authorities are looking for a 44-pound bronze cookie sculpture, taken from the grounds of a famous German baking company. One clue: a ransom note with a picture of someone in a Cookie Monster costume holding a giant golden cookie. The note is made with cut out magazine letters like in old movies. It demands a cookie delivery to children at a local hospital.

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