Stock Down. The Shanghai Composite Index bounced back early this morning by almost four percent, giving investors a reason to breath a bit easier. But the overriding concern for the Gordon Gekkos of the world is that yesterday’s 3.2 percent drop - and subsequent U.S. tumble - was a sign of major weakness in the Chinese economy.
Table for three. The U.S. announced yesterday that it would hold talks with Iran and Syria about Iraq. The trio is expected to include Secretary of State Condoleezza Rice and her counterparts from the two countries.
Busted. Kent Roberts, former chief counsel at McAfee, was the first Silicon Valley lawyer charged in the stock options backdating debacle. Roberts faces six counts of mail fraud, wire fraud and filing false SEC documents. The charges from DOJ are in connection with options grants given to Roberts and ex-McAfee CEO George Samenuk in 2000 and 2002.
Padilla. The NYT has a long piece offering new details on the treatment of Jose Padilla while in U.S. custody. The three days of court testimony before Federal District Court Judge Marcia Cooke, who must decide if Padilla is competent to stand trial.
Meow. Capitalizing on the Geffen-Obama-Clinton cat fight, The Politico has a fun story comparing the culture’s of Hollywood and the Hill.
Sold. Marty Peretz has sold his stake in The New Republic, the political magazine he has owned for more than three decades. The new owner is CanWest Global Communications, which has already announced the magazine will cut back publication to twice a month.