Pink's Bottom Line on Media, Money and Sports

Voice of America, existing home sales and the NFL quarterback carousel

In today’s newsletter, I discuss changes in the executive ranks at the government agency that oversees the Voice of America, strong existing home sales and the NFL quarterback carousel.

MEDIA: Voice of America

There is a new acting CEO of the United States Agency for Global Media (USAGM), a US government agency that includes the Voice of America (VOA) and that provides news and information about the United States to foreign countries around the world.

President Joe Biden’s administration named Kelu Chao as the USAGM’s acting CEO, replacing Michael Pack, an appointee of the previous administration. Biden’s team also made several other executive changes at the USAGM and at VOA.

Pink's Bottom Line

Chao, a journalist who has worked for the VOA for many years, replaces Pack, who had been a controversial appointee since he assumed his post in June.

Many critics said that Pack’s tenure was politically charged, which goes directly against the VOA mission of providing objective, unbiased information.

While Chao’s appointment is temporary, it does send a clear signal from the Biden administration that it plans to ensure that the VOA stays an objective, independent news and information service.

MONEY: Strong Existing Home Sales

With recent mixed reports on the nation’s housing market in the past few weeks, it was a bit surprising to see that existing home sales increased sharply in December.

According to the National Association of Realtors (NAR), existing home sales jumped 0.7% in December compared to November, and sales rose 5.6% in 2020 compared to 2019, hitting their highest annual level in 14 years.

The median price of an existing home also rose, up 12.9% this year compared to 2019, according to NAR.

Pink's Bottom Line

Importantly, two factors could provide tailwinds for existing home sales in the coming months.

First, a new federal stimulus package could soon pass Congress, which would provide a much needed financial boost to many Americans.

Second, the negative impact of the coronavirus pandemic could wane as more people receive vaccinations, which would further open up the nation’s economy.

If the housing market continues to show strength — it has underpinned the economy during much of the pandemic — that points to a potentially solid economic recovery this year.

SPORTS: NFL Quarterback Carousel

The Detroit Lions are reportedly considering trading quarterback Matthew Stafford this offseason, according to ESPN’s Adam Schefter.

If Stafford is on the trading block, he would join veteran quarterbacks DeShaun Watson of the Houston Texans and Carson Wentz of the Philadelphia Eagles who might also change teams.

Watson reportedly wants out of Houston, and the Texans could be seeking to trade him. The Eagles benched Wentz late last season in favor of rookie Jalen Hurts —Wentz’s future with the Eagles is now unclear.

However, Stafford, an enormous talent who has played on mediocre Lions’ teams during his career, just might be the most interesting of these three potentially available quarterbacks. (One fun stat — Stafford ranks 16th all-time for most career touchdown passes.)

Pink's Bottom Line

If, for example, Stafford gets traded to a strong overall team like the San Francisco 49ers, he would make San Francisco instant Super Bowl contenders.

He would also be an intriguing option for the Chicago Bears, though that’s an unlikely landing spot as the Bears are in the same division as the Lions, or for the New England Patriots.

In any case, a Stafford trade will have a major impact next season wherever he does eventually land, and his trade could become the most significant move during the offseason in the NFL when all is said and done.

---

Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.

The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.

(Newsletter Editor: Karina Pink)