Must Read Money Stories, Monday, Jan. 12

by January 12, 2015

MRMSParis’ economy can withstand terror attacks. More than 1 million people flooded the streets of Paris on Sunday for protests of last week’s shootings at the satirical magazine Charlie Hebdo as well as a kosher grocery. Despite the gloom over the city, analysts told the International Business Times that Paris’ economy shouldn’t be affected by the aftermath. ““The economic consequences of terror are never the most important ones,” says David Wessel, the veteran financial journalist and director of the Hutching Center on Fiscal and Monetary Policy at the Brookings Institution. “Terror strikes at the heart of our societies, our freedoms and our safety.”

How one teen sees social media. Facebook is dead to teenagers, while Instagram is the center of many millennials’ universe. Thus says a 19-year-old University of Texas student, Andrew Watts, writing on Medium. Facebook, however, is useful for its group function and its messaging service. Meanwhile, Watts says there are three main groups of Twitter users: “the ones who use it to complain/express themselves, the ones who tweet with the assumption that their prospective employer will eventually see whatever they are saying, and the ones who simply look at other Tweets and do the occasional RT.”

Republicans ready to rumble. The political world was buzzing this weekend over what might be a brewing feud between Jeb Bush and Mitt Romney. The battle is shaping up as political donors are getting ready to choose sides for the 2016 primary season, writes Maggie Haberman in Politico. “It’s a fight neither may be eager to have, but which some donors are framing as a referendum on the past versus the future, even if both men have been well-known political figures for years,” she writes. One political fundraiser said anonymously that there is enough capital out there for Bush and Romney, but not for any of the other rumored GOP candidates, such as Ohio Gov. John Kasich or New Jersey Gov. Chris Christie.

A gem of an obit. Sooner or later, every journalist ends up writing an obituary. This one from the Chicago Sun-Times, for Chicago funeral home owner Celeste Siedlecki, is one of the best you’ll read. She was the last surviving member of a trio of tough Irish women who in the early 1960s took over running their grandfather’s mortuary on the city’s south wide. The women “fended off being gobbled up by the conglomerates that have bought up many small funeral homes.” In the process, their funeral home became the center of the city’s political scene. “It was very common to see Mayor Daley here, the first mayor Daley,” her son Charles said. “He would never miss a wake. He would buzz in with his entourage and bodyguards, and he wouldn’t stay long, but he never missed a wake.”