Explaining Southern California's economy

Reportings: Machine trading; Broadcom buys NetLogic; Greek doom; Countrywide bankruptcy

Irvine-based Broadcom is dropping $3.7 billion to buy NetLogic Mircrosystems, in an all-cash deal. Who says there's no tech juggernaut in SoCal (with deep pockets, to boot)? This is the LA Times' David Sarno on Broadcom earlier this year: "With nearly three-quarters of its 8,300 employees devoted to electrical engineering, the company has been able to storm markets where it had little experience, often dominating them within a few years." (Bloomberg, LAT)

 

Blame Germany for all this stock-market volatility? With a Greek debt default looking inevitable, the big question is whether the country stays in the Euro. And if it exits, what's next for Italy and Spain? (Bloomberg)

 

Blame the machines for all this stock-market volatility? Hmmm…not sure. But automated trading now accounts for 60 percent of "daily turnover" in four major markets. (NYT)

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