Agnes T. Crane
Agnes T. Crane is a Reuters Breakingviews columnist, based in New York, where she covers capital markets and Latin America. She joined from Dow Jones Newswires, where she was an award-winning journalist who led a team of reporters covering the credit crisis. Before that she worked at Market News International in New York and as a freelancer contributing to The Deal, Advertising Age and other publications during her four year stint in Mexico. Agnes holds a BA from Temple University in Philadelphia where she studied History. Follow Agnes on Twitter @agnestcrane
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In a world increasingly disrupted by technology, it’s harder to know which companies will navigate the next 10 years let alone 100. Buyers of J.C. Penney’s century bonds 16 years ago may now have reason for pause, but so will those sitting on 30-year debt from the likes of Apple.
The activist hedge fund boss is always ready for a fight – just maybe not so many at once. Ackman is embarking on a campaign at Air Products even amid high-profile tussles at P&G, Herbalife and beyond. Resigning from the J.C. Penney board is prudent for more reasons than one.
Forget about Apple and Exxon. At $10 bln, Fannie Mae’s second-quarter showing bested the tech and oil giants’ profit by 46 percent. Congress must be tempted to hold on to the lucre rather than wind down Fannie and sister agency Freddie Mac. But such earnings supremacy won’t last.
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