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February 18, 2013
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  Top Story 
  Industry Update 
  • Treasury cites higher foreign investment in December
    Concerns about the "fiscal cliff" apparently helped drive stronger international purchases of U.S. financial assets, including stocks and bonds, during December. "The significant increase in December is a reflection of the heightened concern among global investors about the U.S. economy being pushed into a recession by the 'fiscal cliff,' " said Millan Mulraine of TD Securities. "Investors who feared the adverse impact of a U.S. economic slowdown on global activity fled to the safe haven of Treasurys." Bloomberg (2/15) LinkedInFacebookTwitterEmail this Story
  • SEC anti-fraud software is expected to debut this year
    Securities and Exchange Commission software that will seek out accounting anomalies and hedge fund performances that don't line up with investment strategies is expected to launch this year. The software will analyze real-time data streamed to the agency from exchanges and will use a model that the SEC has been developing since 2011. "It is a model that allows us to discern whether a registrant's financial statements stick out from the pack," Chief Economist Craig Lewis said. The Washington Post (2/15), Financial Times (tiered subscription model) (2/13) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • Sen. Schumer: GOP will give in to Democrats to prevent cuts
    The automatic spending cuts set to automatically take effect on March 1 will be averted, says Sen. Charles Schumer, D-N.Y. The deadlock will be broken when Republicans decide to go along with the Democratic proposal to avert the sequestration cuts with a mix of reduced spending and new revenues, Schumer says. The Hill/HillTube blog (2/17) LinkedInFacebookTwitterEmail this Story
  • N.J.'s Booker stops short of a commitment to Senate race
    Cory Booker, mayor of Newark, N.J., says the Senate seat being vacated by Sen. Frank Lautenberg, D-N.J., is interesting, but he wouldn't commit to entering the race during a talk-show appearance over the weekend. "I'll spend the coming months working on exploring that," Booker said. "But right now we have one election in New Jersey, which is our statewide gubernatorial and legislative elections. As a Democrat in New Jersey, that's where my focus is." The Star-Ledger (Newark, N.J.) (2/17) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • Leaders make or break innovation
    There's no such thing as fire-and-forget innovation, writes Scott Anthony. Leaders can't just get innovation projects up and running -- they need to remain involved and champion the work being done. "Innovation is enough of an unnatural act in most companies ... that it requires the day-by-day attention of the company's top leadership team or it simply won't stick," Anthony warns. Harvard Business Review online/HBR Blog Network (2/13) LinkedInFacebookTwitterEmail this Story
  People & Personalities 
  • Paredes reportedly hopes to exit SEC at end of term
    Republican Troy Paredes reportedly wants to leave the Securities and Exchange Commission at the end of his term in June, although sources say he would stay until the Senate confirmed a replacement. The Senate has yet to confirm Mary Jo White, President Barack Obama's most recent nominee to lead the SEC, but Paredes' expected exit may speed up the process. The Wall Street Journal (2/15) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Future U.S. retirees could face tough times, research shows
    A majority of Americans approaching retirement can expect to be financially less well off than their parents when they leave the workforce, research indicates. Retirees with limited resources may have to share homes with younger relatives or turn to government agencies for support, researchers say. The Washington Post (2/16) LinkedInFacebookTwitterEmail this Story
You will become as small as your controlling desire; as great as your dominant aspiration."
--James Allen,
British author

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