The Cynic: October 21

BUSINESS
This Week’s Business News

Trump says he expects a “fair deal” with China and vows to speed submarine deliveries to Australia.

The president told reporters he’s confident about trade negotiations with Beijing while doubling down on his promise to deliver nuclear-powered subs to Australia “faster than anyone thought possible.”

The goal: keep economic optimism alive without looking soft on defense—a delicate tango that Wall Street and Canberra both pretend to understand.

If diplomacy had a soundtrack, this would be part Frank Sinatra, part Top Gun.

Glass Lewis joins ISS in advising Tesla investors to reject Musk’s $1 trillion pay plan.

The two major proxy advisory firms say the award is excessive and poorly justified, urging shareholders to vote it down ahead of Tesla’s annual meeting.

Musk’s defenders call it performance-based genius; critics call it corporate cosplay.

Either way, governance consultants everywhere just renewed their beach houses.

Bank stocks slump again as credit concerns rise and merger speculation heats up.

Regional lenders led the losses as traders braced for tighter margins, slower loan growth, and potential funding pressure.

Rumors of possible tie-ups added some excitement to an otherwise ugly day for financials—nothing says “confidence” like unsolicited acquisition chatter.

It’s the same movie we saw in 2023, just with slightly different logos.

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REAL ESTATE
This Week’s Real Estate News

PulteGroup earnings fall on weaker margins and slower home sales.

The builder’s quarterly profit dipped as higher incentives, moderating demand, and a less favorable sales mix weighed on results.

Executives say they’re staying disciplined on new starts while buyers wait for clearer rate signals.

Translation: profits are down, but optimism—like drywall—is holding for now.

Trump administration weighing 2025 public offering for Fannie Mae and Freddie Mac.

The FHFA confirmed it’s working toward a potential end to conservatorship for the mortgage giants, aiming to raise capital through a share offering by late next year.

The move would mark a symbolic milestone after more than 16 years under government control—though “symbolic” is doing a lot of work there.

Housing finance reform: the sequel nobody asked for, but everyone keeps rewriting.

Compass to buy Anywhere Real Estate in $4.2 billion all-stock merger.

The brokerage giants are set to combine in a deal valuing the group around $10 billion, with closing expected in 2026 pending regulatory review.

The merger unites Century 21, Coldwell Banker, Sotheby’s Realty, and Compass under one roof—because apparently, America didn’t have enough real estate conglomerates.

Fewer logos, same open houses, and probably more “tech-driven synergy” meetings.

FUN
Riddle Me This

I rise when others fall,
I’m watched by millions but built by fear.
I make the bold rich, the calm secure,
And I vanish when the news gets clear.
What am I?

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ADVICE
This Week’s Business Advice

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