Thursday, April 02, 2009

A Little Of The Old In And Out

(image via nationalgeographic)

In: China. It's been a good week for China, which has been all sharp elbows at the G20 conference. President Obama pledged to visit Beijing in the second half of the year. They have, of late, been flexing their rising power status in the economic arena. China, with a per capita income of $3000, is a provider of capital to the world, including the United States. According to CBSNews: "Meeting on the eve of the summit, President Barack Obama handed Chinese President Hu Jintao a diplomatic coup when, according to a senior American official, he agreed on the need to reform the International Monetary Fund to give China and other developing countries 'an appropriate role.' Finally, despite the gloomy economic news around the world, Bloomberg is reporting that China's manufactring is expanding. From Bloomberg:

"China’s manufacturing expanded for the first time in six months, spurred by the government’s 4 trillion yuan ($585 billion) stimulus package.

"The Purchasing Manager’s Index rose to a seasonally adjusted 52.4 in March from 49 in February, the Federation of Logistics and Purchasing said today in Beijing in an e-mailed statement. A reading above 50 indicates an expansion.

"The expansion may help President Hu Jintao achieve his target of 8 percent economic growth for the world’s third- biggest economy. The report comes as he attends a Group of 20 summit in London where world leaders are discussing remedies for the worst global recession since World War II. Hu’s stimulus package already triggered jumps in urban investment and loan growth in the first two months of this year."

(image via nydailynews)

Out: Damon Dash and Rachel Roy. It's about to get ugly. From the NYDailyNews:

"He's got no money, but he sure does have mo' problems.

"Roc-A-Fella Records and Rocawear co-founder Damon Dash has been slapped with divorce papers by wife Rachel Roy, the Daily News has learned. The stunning fashion designer piled onto Dash's already sizable stack of lawsuits when she filed for divorce from her husband of four years this month in Manhattan Supreme Court. Ed Hayes, a lawyer for Roy, declined comment, and a Dash spokeswoman did not return calls or e-mails. An electronic record of the case says the divorce is for 'nonmonetary relief' and should be resolved by February

"..The breakup is the latest legal mess for the has-been hip-hop titan, whose empire - which he once pegged at 'about $50 million' in a New York magazine profile - has crumbled under massive debt, bad business deals and one suit after another. Dash, who in 2005 sold his stake in Rocawear to Jay-Z for $20 million, owes $2 million in state taxes, and a bank has started foreclosure proceedings on his two Tribeca condos."

Finally, as Toure Tweeted, "Dame bought a lot of shit on himself, but Rach's bailing when he's going through things? That speaks to her character."

In: "Breaking Bad." The gritty drama that Steven King regards as his favorite is getting a quick renew. From TheHollywoodReporter:

"Four episodes into the second season of 'Breaking Bad,' AMC has picked up Vince Gilligan's drama series for a third cycle.

"Following a well-received first season that earned the series a Peabody Award and an Emmy for star Bryan Cranston, 'Breaking' second season has garnered even more critical acclaim and commercial success.

"The second-season opener of the Sony TV-produced series drew 1.7 million viewers, up 21% from the first-season premiere."

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