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Paul Sweeting

Paul Sweeting is the editor of ContentAgenda.com and a columnist for Video Business. He has covered the home entertainment industries since 1985 for Billboard, Variety, Publishers Weekly and other leading business publications. He is based in Washington, DC.


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Paul Sweeting

Paul Sweeting, Media Wonk
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Duty calls - September 30, 2008

Media Wonk has been summoned to jury duty today and there is only limited WiFi access here at the Washington, DC Superior Courthouse. So I won't be in as much as usual. It was nice to see the markets turn around this morning after yesterday's cliff-dive--presumably on new optimism about a bailout by the feds--but a dead-cat bounce doesn't completely eliminate concerns about some of the biggest tech decliners in yesterday's sell-off. Specifically Apple. Shares of Apple were up 4% as of our lunch break here at the courthouse, after a drop of 18% yesterday. Even if markets stabilize, however, and Congress and the Treasury Department manage to stave off a calamitous economic downturn, consumers are likely to remain spooked for months to come, undercutting aggregate consumer spending. Can't be good news for high-end gadget makers.
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