There are questions among the hacktivist collective Anonymous whether today's planned attack against the New York Stock Exchange's website in support of Occupy Wall Street is an elaborate trick to entrap participants or smear the movement. Whatever! It's still apparently kicking off less than two hours from now.
Did you happen to catch Maria Bartiromo's interview with Snoop Dogg on CNBC yesterday? (He was in town to participate in something called Global Entrepreneurship Week and rang the opening bell at the New York Stock Exchange yesterday.) After the jump, listen to Snoop as he discusses his "brand" and tackles questions like whether you need venture capital financing to start a career as a rapper (you don't!) and whether he had any difficulty "breaking into the culture of hip hop" (he didn't!).
• To celebrate 1,000 episodes (and 35,892 sound effects), CNBC's resident buffoon, Jim Cramer, rang the opening bell of the NYSE today. [CNBC]
• Sales of romance novels are on the rise, since in times like these, we all just want to indulge in happy endings. Or something along those lines. [NYT]
• Why is the New York Times Co. frantically looking to cut costs at the Boston Globe? For one thing, it's on track to lose $85 million in 2009. [NYO, Portfolio]
• It's hard getting people to pay for newspaper content they now get for free. Let Coke guide you, Arthur Sulzberger Jr.: "Coca-Cola took tap water, filtered it and called it Dasani, and makes millions of dollars a year." [NYT]
• Magazines are blurring the line between editorial and advertising by putting ads on the cover. If they don't, they go bust. Rock, meet hard place. [NYT]
• As expected, Barack Obama has been named Time's person of the year. [Time]
• Oprah has negotiated a deal to produce movies for HBO. [Reuters]
• It appears the end is near for Lenny Dykstra's Players Club magazine. [NYP]
• News Corp. is moving its listing from the NYSE to the NASDAQ. [NYT]
• American Idol was the most time-shifted show in primetime in 2008. [Reuters]
• Cutting web staff seems to be a popular way for magazines to keep their print titles afloat. [NYO]
We're not sure why execs at the New York Stock Exchange decided to invite a man best known for breathing fire and spitting blood to ring the opening bell this morning. But they did, and Gene Simmons dutifully turned up, and the Kiss rocker concluded his visit by chatting with Fox Business. The "market expert" (Fox's words, not ours) isn't too worried about the recession, you'll be relieved to hear. He's downright bullish! "You know what I'm doing down here? I'm buying. Because the Dow is around 8,000. Guess what? It's going to go to 10,000 before you know it!" Watch the full video for more of Gene's thoughts on the bailout, the state of the U.S. auto industry, and our dependence on Mideast oil.
Despite few signs the economy is truly improving (not to mention a good deal of bad news today, like consumer confidence at an all-time low), the Dow jumped nearly 900 points today—its second-greatest point gain ever—as investors looked for bargains and eagerly awaited news of an interest rate cut. The S&P gained 10.7 percent and the Nasdaq was up 9.5 percent on the day, which means instead of photos of sad traders, the news media is now showing off much happier (and cuter) ones. Finally! [WSJ, NYT]
No photos of sad traders today: The Dow posted its biggest one-day jump in history, rising nearly 1,000 points after the central banks pumped billions into the system and various European countries announced plans to guarantee loans and prop up ailing banks. More photos of cheery traders after the jump. [NYT, WSJ]
Interesting in ringing the opening or closing bell at the New York Stock Exchange? Didn't think so! "'Right now, it can be a little bit like being asked to blow the foghorn on the Titanic,' said Jim Haggerty, chief executive of the PR Consulting Group, which advises companies on communications strategies." [NYT, related]