Must Read Money Stories for Tuesday, July 28

by July 28, 2015

News Story ideas

Boston drops Olympic bid. Boston has dropped its Olympic bid for 2024, according to the Boston Globe. Public reception has been lukewarm, so the local bid group and United States Olympic Committee reached an agreement to withdraw the city for consideration. One of the issues raised by those against hosting the event was how much control the Olympic committees would have over the city’s development leading up to the games. CEO of the Greater Boston Chamber of Commerce James E. Rooney said in a statement that “Mayor Walsh and Governor Baker were right to be cautious about assuming too much taxpayer risk.”

Fly in style. Delta Air Lines is set to offer one of the most luxurious flight upgrades yet. In its new program, the airline will target what it calls “high-value customers” that have elite or “medallion” status in Delta’s SkyMiles frequent-flyer program. With an upgrade that costs between $300 and $800, those customers can scrap a commercial flight and get on board a private jet, Bloomberg reports. While the option will be available as soon as this week, the initial number of private jet flights that are offered will be limited.

Musk the Martian. The New York Review of Books took a look at Ashlee Vance’s book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future on the rise of the South African entrepreneur. While Musk spends a great deal of money pushing the limits of science, technology and business, Vance’s take on the billionaire also focuses on the personal cost. As reviewer Sue Halpern writes, “The portrait of Elon Musk that emerges from these pages is of a man of visionary intellect, fierce ambition, and fantastic wealth, who is emotionally bankrupt.”

Skip same-day. Fortune reports that the online commercial site eBay has stopped its same-day delivery service. The service began in 2012 after its $75 million acquisition of the startup Milo. Amazon has succeeded with same-day delivery by selling items like diapers and groceries, but those products don’t make up the core inventory at eBay, which sells more collectibles and used items.

China invests. The New York Times recently put together an interactive infographic on the growth of Chinese investments around the world, as well as a companion article. The country’s investments overseas have helped it supplant the United States and Europe as the leading financial power in parts of the developing world. The two pieces are definitely worth reading if you haven’t already. Here’s a preview of the graphic from the Times: