Must Read Money Stories, Tuesday, Jan. 13

by January 13, 2015


First Look Media wants to go for-profit. Pierre Omidyar’s fledgling media company wants to move away from its non-profit status in the near future, according to Ad Week. The company’s only publication, The Intercept, has grabbed a number of scoops since its creation, including an exclusive interview with Jay from Serial. Despite The Intercept’s relative success thus far, First Look underwent massive upheavals in its first year culminating in the disbandment of Racket — a vertical helmed by Matt Taibbi — before it even launched. Skeptics doubt the publication’s heavily-researched and socially-conscious journalism can garner Omidyar a profit given its low click numbers.

Helpful crude oil prices question and answer. If you’re mystified by oil’s massive drop, the New York Times did a useful Q&A on the topic that might help explain why a barrel of oil has fallen below $50. The piece covers the winners and losers from this development, what’s going on with OPEC, and whether or not there’s a global conspiracy to reduce prices. Spoiler: There isn’t.

Why did the College Football Playoff National Championship’s ticket prices plummet? Businessweek conducted an analysis of past games, and found that this year’s championship between Ohio State and Oregon — the first in the new College Football Playoff system — experienced sharper declines in ticket prices than in the past. Take a look:

Via Businessweek

Via Businessweek

BW’s Ira Boudway explains that the new system is “squeezing fans,” by giving them only 12 days to buy their championship tickets after the first playoff game. In the defunct BCS system, fans had more than a month to prepare.

Baton Rouge’s car wash wars. Down in Louisiana’s capital, car wash businesses are competing for the 80,000 cars that travel along the city’s streets, but demand might not be high enough to support all the new storefronts, according to Business Report. In comparison, the car wash market became so dense in Atlanta that stores underwent drastic measures — like doubling as a bar — to differentiate themselves from their competitors.