Erik Sherman
Fortune
Northfield, MA, United States
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Recent articles by Erik:
A New Report Claims Big Tech Companies Used Legal Loopholes to Avoid Over $100 Billion in Taxes. What Does That Mean for the Industry’s Future?
A new study suggests Google, Amazon, Facebook, Apple, Netflix, and Microsoft may have avoided more than $155 billion in taxes over ten years. → Read More
Page and Brin Might Be Leaving Google Management but Their Control (and Wealth) is Locked in
Special stock classes confer wealth and power to their holders. → Read More
2020 Presidential Campaign Fundraising (and Spending) Are on Track to Smash Records
But there are big differences in how each candidate—including Trump—are spending their money so far. → Read More
Time To Eradicate The Child Penalty And Reduce Poverty
The "child penalty," in which women have lower lifetime earnings than men due to child rearing, needs everyone to work together for a solution. → Read More
'Catastrophically Huge': New Labor Laws Aimed at Independent Contractors Could Be a Huge Drag on Uber and Lyft Stock
If new laws take effent in California, New Jersey, and New York, the companies will incur "many layers of cost that don't exist right now," as one analyst puts it. → Read More
PayPal's $4 Billion Acquisition of Honey Could 'Pay For Itself In a Few Years'
Creating a 'flywheel' of rebates that get deposited back into a PalPal or Venmo account could quickly generate revenue. → Read More
Warren Buffett Is Lagging the S&P 500 for 2019—But Here’s How Much He’s Up For the Decade
Warren Buffett has long used the S&P 500 as a benchmark for his efforts and while the Oracle of Omaha is having a good year, the index fund is killing it. → Read More
The Pain From WeWork’s Failed IPO Deepens as Bondholders Get Stuck Underwater
WeWork's bonds, already junk-rated, could be seen as highly vulnerable to a default should the price drop even more. → Read More
Yesterday, Shareholders Bailed on Uber. Today, Insiders Got Their Chance
Analysts were divided as to how much insider selling was weighing on the stock versus fundamental questions about Uber's future prospects. → Read More
SoftBank Writes Down $9.2 Billion Over WeWork
SoftBank's earnings announcement detailed massive investment losses in WeWork and Uber, suggesting that the company's focus on so-called unicorns needs readjustment. → Read More
Why GM and Boeing Share the Blame for Weak Manufacturing Numbers
Issues at the two companies caused a drag on the transportation equipment manufacturing sector. → Read More
The S&P 500 Is at an All Time High—But Markets Still Performed Far Better Under Obama Than Trump
Despite the strong year for stocks, if you measure from inauguration through Oct. 31 of each president's third year in office, Obama still comes out on top. → Read More
These 'Secret' Recession Signs May Provide Clues to When the Next Downturn Is Coming
We asked market watchers for the metrics they are obsessively tracking to spot the next slowdown. → Read More
Twitter's Ban on Political Ads Puts More Pressure on Facebook
Twitter bans political ads on its platform, as Facebook doubles down on freedom of political speech. → Read More
Markets Are Betting That Good Things Come in Threes—Especially Rate Cuts
But will this be the end of cuts for a while, or might the Fed continue its rate reduction rumba for the near future? → Read More
Twitter Stock Plummets 20% After Earnings Miss, as Some See Worrying Signs From Advertisers
As Victor Anthony at Aegis Capital explained in a client note today, numerous checks with advertisers found plenty of unhappy customers. → Read More
Another Wrinkle Emerges in the WeWork Saga
In a review of SEC filings, Fortune identified at least nine CMBSs issued through banks such as Credit Suisse, Bank of America, and JPMorgan Chase in which at least one of the pooled mortgages was on a building where WeWork leased between 25% and 100% of the available space. → Read More
Chinese Tariffs Hammer U.S. Lobster Trade
Brent Lincoln of The Boston Lobster Company estimates that, "70% of my personal business has been gone since the tariff was passed." → Read More
Insider Stock Sales Are Up This Year. Here's What That Tells Us
Insider share sales can be a bad sign for investors, but are they this time? → Read More
U.S. Manufacturing Continues to Slow, Companies Hope New Markets and Tech Can Help
Many companies across the manufacturing sector see things getting slower. → Read More