Dollar Plummets Against Yen (WSJ)
Dollar below 100 Yen: This is sort of like the Dollar dipping below parity with the Loonie, but it's not quite as painful, since it's not our obnoxious neighbors to the north. Like, you don't often hear Japanese citizens going on and on and on about their healthcare system and how wonderful it is there. Do they have national health insurance there? They must, since we've heard a million times that the US is the only industrialized nation without it. That being said, if you compare one Dollar to one Yen, the Dollar still owns big time..
U.S. to Revamp Credit Rules, Drawing From Crisis Lessons (WSJ)
With help from the almighty, let this be the last credit crisis of all time. Barring divine intervention, maybe there's something our politicians can do. Apparently lawmakers plan to produce, try not to ralph, a broad blueprint affecting every corner of the credit industry, which will provide for greater regulation and, of course, increased transparency. You know, sort of like Sarbanes-Oxley was supposed to do, but didn't. In an interview, Hank Paulson told the WSJ: "We aren't singling out any group of market participants, because...there were mistakes made by all." Yeah, they're going after everyone.
New Inspections Ground 38 Southwest Jets (NYT)
Awesome. We at the Opening Bell are flying Southwest today.
Can a Toyota Man Fix Chrysler? (NYT)
If you've read between the lines of almost two years of the Opening Bell, you know we're sort of Toyota fans. Not just the cars -- though we did have one for many years, and yes, it basically required 0 maintenance, and no we did not take particularly good care of it -- but the whole manufacturing culture. So it's cool that the latest vice-chairman at Chrysler is a 37 year Toyota vet, there to bring the wisdom of Shingo et. al. to the struggling, Cerberus-owned automaker. Not surprisingly, he's described as a quiet guy that's mainly into substance, but they've already got him doing some dumb sounding marketing with live cattle and beef jerky.
Amie Street's New Star: Ashley Alexandra Dupre (Alley Insider)
A little bit of econ in action: the "alleged" prostitute behind Spitzergate has her music on a site where the more people buy her song, the higher the price is. We're not really sure if this business model makes sense for an online music retailer, but whatever. As of yesterday morning, the price for her single was $0.00 and now, duh, it's the maximum, $.98.
Client #6 Was Allegedly the Duke of Westminster (CrossingWallStreet)
Cool, now we can do the whole Spitzer freakout all over again. This time with a British noble. Wonder if he has tons of enemies.
TiVo plans to bring YouTube and RSS into the living room (VentureBeat)
Hello WebTV. Ok, not really. TiVo continues to try driving a wedge between itself and the rest of the set-top box manufacturers by bringing on more than just plain vanilla DVR services. Of course, DVR is the killer set-top box app, and the rest is just sort of other stuff. But, at some point, folks with the high end TiVos and a broadband connection will be able to watch YouTubes directly on their TV. And RSS too. So subscribe to Dealbreaker and read it during commercials without leaving your couch.
Asian Markets Plunge on US Woes (AP)
More crushin overseas while you were sleeping: The Nikkei slid 3.3 percent, falling to a 2.5-year low. Hong Kong was down a cool 4.8 percent, while India was also down over 4 percent. Too bad those reports about a new anti credit crisis initiative didn't come out earlier, cause that'd have calmed things.