Much Ado About Nothing

UC-Davis economists Victor Stango and Christopher Knittel conducted a study, where they looked at stock prices of companies having an advertising or endorsement relationship with Tiger Woods and they concluded that his scandal has cost shareholders $12 billion.

There didn't appear to be any difference, if the company publicly fired Woods because as Smith College economist, Andrew Zimbalist is paraphrased by the Sacramento Bee; "the stock market tends to overreact to the news, good and bad".

Illustrating Zimbalists's point and with no fact-checking by me, a commenter has found that the companies listed as "hardest hit" have all rebounded and their stock prices gone up, since the study was done.

Gatecrasher Minutia

Tareq Salahi, the White House State Dinner gatecrasher graduated from UC-Davis, which means the Sacremento Bee dispatched a reporter to the campus in hopes of finding someone who remembered him.

Professor emeritus Ann Noble says that Mr. Salahi struck her as coming from a strict family, who enjoyed the social aspects of college life.

"He was a kid in a candy shop," she said.