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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

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Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

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The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner

1

How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Broadsheet

The Broadsheet: November 3rd

Kristen Bellstrom
By
Kristen Bellstrom
Kristen Bellstrom
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Kristen Bellstrom
By
Kristen Bellstrom
Kristen Bellstrom
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November 3, 2015, 7:33 AM ET
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Good morning, Broadsheet readers! Elizabeth Holmes says her company will “absolutely” get FDA approval, the First Lady weighs in on her trip to the Middle East, and Sheryl Sandberg speaks at the Fortune Global Forum today. Enjoy your Tuesday.

 

EVERYONE'S TALKING

• Holmes takes the stage. Speaking to Fortune editor Alan Murray at the Fortune Global Forum, Theranos founder-CEO Elizabeth Holmes defended her company, saying that Theranos will ultimately win FDA approval of its “finger prick” blood test process. She also insisted that the company, which is valued at $9 billion, is not worth less as a result of the controversy. Fortune

ALSO IN THE HEADLINES

• Keeping up with Rometty. IBM CEO Ginni Rometty spoke to the Fortune Global Forum crowd about the incredible pace of change in the world of technology and the new businesses her company has entered as a result. “You have to have the wisdom to know what must endure and what must change,” said Rometty.  Fortune

• Women of FGF. Among the women leaders speaking today at the Fortune Global Forum in San Francisco: Facebook COO Sheryl Sandberg, Yahoo CEO Marissa Mayer, United Therapeutics co-CEO Martine Rothblatt, and Lockheed Martin CEO Marillyn Hewson. See the agenda and watch the livestream here starting at 8:45 am Pacific Time.

• HP vs. HP. On their first day of trading, the two companies created by Hewlett-Packard's split racked up very different performances. Shares of HP Inc. were up nearly 13% in late trading, while shares of HPE—the company led by former HP CEO Meg Whitman—were down 1.6%.  Fortune

• Uber-diverse. Uber general counsel Salle Yoo writes about how she promotes diversity and equal pay—and how she encourages her female employees to ask for the money they deserve. Fortune

• The First Lady files. First Lady Michelle Obama writes about her plans for her trip to the Middle East to promote Let Girls Learn, her global initiative to push for education for girls. The Atlantic

• The 401(k) gap. A new study of CEOs' retirement funds reveals a major gender gap: The 10 largest retirement funds held by white male CEOs add up to a total of $1.4 billion. The same tally for retirement funds held by female CEOs comes to just $277 million.  Washington Post

• A contentious view. An online petition to remove actress Raven-Symoné from The View has garnered more than 128,000 signatures. For now at least, ABC is standing behind Symoné, who criticized the black student who was dragged out of a classroom by a white sheriff’s deputy in Columbia, S.C. Meanwhile, The View hosts are in hot water with Carly Fiorina for comments they made about her face after last week's GOP debate. Fiorina will appear on the show this Friday.

• Fact checking Fiorina. In more Fiorina news, the candidate has admitted that the 92% figure she quoted in the last Republican debate ("92% of the jobs lost during Barack Obama’s first term belonged to women") was wrong. Fortune

MOVERS AND SHAKERS: Hillary Clinton's campaign is making some staffing changes. Christina Reynolds is being promoted to  deputy communications director, Adrienne Elrod is stepping up to become head of surrogate operations, and longtime Clinton aide Diane Hamwi is departing. Lisa Sugar, co-founder and formerly editor-in-chief of PopSugar, has been named president of the media company.

IN CASE YOU MISSED IT

• 100 female filmmakers. Fed up with producers who cite a lack of talented women directors, New York Magazine put together a list of 100 female directors. Notable names include Selma director Ava DuVernay, actress-turned-director Elizabeth Banks, and Kathryn Bigelow, the first woman to win the Oscar for Best Director.  New York Magazine

• Amazon amps up. Amazon is the latest tech company to expand its paid parental leave policy. Amazonian moms will now get up to 20 weeks leave, while new dads will qualify for paid time off for the first time.  Fortune

• STEM spokeswoman. Bonnie Baskin, founder and former CEO of two successful biotech firms, has created a museum dedicated to inspiring more kids—particularly girls and minorities—to pursue jobs in STEM. Fortune

• A podcast moves to Pandora. The second season of Sarah Koenig's Serial podcast will be streamed by online music streaming service Pandora. The premiere date for the new season hasn’t been announced, but season one will be available on Pandora starting Nov. 24. EW

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ON MY RADAR

The world's most elite female chefs on what it's like to have three Michelin stars  Elle

Mary Gaitskill and the life unseen  New York Times Magazine

What the new science of happiness means for working parents  Fast

The lost interviews with Peggy Guggenheim  Vanity Fair

QUOTE

I try to keep working so people can see other characters and other things I can do, instead of taking vacation time, and now I’m aging like a president. I hate waking up without a goal.

Actress Jennifer Lawrence
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Kristen Bellstrom
By Kristen Bellstrom
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