Viral Video: "I Want Your Money"

In the interests of political fairness, here is a trailer for a documentary coming out in mid-October that takes aim at President Barack Obama’s economic policies. Titled “I Want Your Money,” the controversial trailer has already gotten over 1.76 million views on YouTube. (Take that, Michael Moore!)

Forbes.com CEO Jim Spanfeller Out. Here’s the Internal Memo.

Forbes.com CEO Jim Spanfeller, who has run one of the Web’s biggest finance sites for the last nine years, is leaving the company at the end of the summer. No replacement has been named. Spanfeller’s departure comes amid a flurry of bad news for finance publications.
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Steve Forbes: We’re Not Making More Cuts

Just because Roger McNamee of Elevation Partners is stepping down from the Forbes Media board, to be replaced by a cost-cutting expert, doesn’t mean more cuts are coming, says CEO Steve Forbes: “Various media outlets today noted that Roger McNamee of Elevation Partners has stepped off the Forbes Media board and that this portends an imminent round of additional cuts. It does not.” Here’s the complete internal memo.
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Forbes Cuts Pay, Condé Nast Cuts Jobs

Layoffs at Forbes Media, which started yesterday, continued through today. And employees who kept their jobs are getting a pay cut in the form of a mandatory week-long furlough without pay; higher-paid employees will also get an additional cut in salary. Meanwhile fellow publisher Condé Nast continued its cost-cutting push: Yesterday it got rid of some of its secretaries; today it is losing 20 people from its digital team.

Rich/Obscenely Rich Divide Closing

The souring economy is closing the divide between the rich and the obscenely rich. Forbes just published its annual list of billionaires and it has 332 fewer names this year than it did last year. Among those who’ve suffered grotesque losses: Microsoft co-founder Bill Gates and Berkshire Hathaway Chairman Warren Buffett.
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