JPMorgan Chase, the target of at least eight Justice Department investigations, was mocked and taunted by Twitter users after asking followers to send questions to an executive using the hashtag #AskJPM.
The online forum, which the bank canceled late Wednesday, was intended in part to give college students an opportunity to communicate directly with a senior executive, said bank spokesman Brian Marchiony.
“#Badidea! Back to the drawing board,” the bank posted less than six hours after its original post, which drew more than 6,000 responses from users in that span, according to social media tracking service Topsy.
The “Snarkpocalypse,” as @ReformedBroker dubbed it, started after the bank’s official Twitter account posted a call for questions, using #AskJPM, at 1:26 p.m. in New York for investment bank Vice Chairman James Lee.
JPMorgan’s call for questions provoked jeers from Twitter users. “Can I have my house back?” @AdamColeman4 posted. “Is it true ‘JPM stands for ‘Just Pay More’?’’ asked @SconsetCapital.
‘‘What’s your favorite type of whale?” wrote @ObsoleteDogma, referring to JPMorgan’s record $6.2 billion loss involving a trader dubbed the London Whale because of his outsize bets.
— Bloomberg News
Three Tesla Motors employees were injured Wednesday after an aluminum casting press failed at its San Francisco Bay area factory, officials said.
One employee was seriously hurt and two others sustained minor injuries when the low-pressure press spilled hot metal , said Greg Siggins, a spokesman for the California Occupational Safety and Health Administration.
“Hot metal somehow burned the workers,” said Siggins, who added that there was no fire inside the plant in Fremont.
The most seriously injured Telsa worker received chest and upper-body burns, Cal-OSHA spokesman Peter Melton said.
The accident follows three recent fires involving Telsa electric cars. Telsa chief executive Elon Musk said Tuesday that “there’s definitely not going to be a recall” of the Model S.
— Associated Press
● The Department of Transportation said Wednesday that
83.8 percent of domestic flights arrived on time in September, a big improvement over July and August, when summer vacationers packed the nation’s airports and about one in four flights arrived late. Hawaiian Airlines held its usual top spot in the ratings, with 95 percent of flights arriving within 14 minutes of their scheduled time. Southwest Airlines ranked last, with a 76 percent on-time mark. There are 16 reporting carriers.
● Macy’s gave the stock market some early holiday cheer. Stock indexes climbed back into record territory Wednesday after the department store chain gave an optimistic forecast for holiday sales. Macy’s surged 9 percent, leading strong gains among retailers including J.C. Penney, Nordstrom and Target. The Standard & Poor’s 500 stock index rose 14.31 points, or 0.8 percent, to 1782, its 34th record close this year. The Dow Jones industrial average gained 70.96 points, or 0.5 percent, to 15,821.63, also a record. The Nasdaq composite rose 45.66 points, or 1.2 percent, to 3965.58, well below its record close of 5,048.52 in March 2000.
● Shares of General Motors rose nearly 5 percent to $38.44 after analysts applauded news that the automaker could be free of U.S. government ownership by the end of the year. The Treasury Department, in a monthly report to Congress, said Tuesday it sold $1.2 billion worth of GM stock in October. The report didn’t say how many shares were sold, but it’s likely that the government’s stake in the company is now less than 4 percent.
● Google and Hewlett-Packard halted sales of their recently released Chromebook 11 computer after some users reported the device’s charger was overheating. Google said it is working with the Consumer Product Safety Commission on fixing the problem. Google is advising people who already bought the Chromebook 11 to use other USB chargers that fit the computer.
● An Internet outage at deals purveyor LivingSocial continued into a second day Wednesday as the District-based company’s engineers worked to fix an internal error that rendered its Web site and mobile app inaccessible. The site went down around noon Tuesday. A spokeswoman said there was no indication that the outage was caused by external factors, such as a cyberattack, or that customer and merchant information was compromised.
— From staff reports, news services
● 8:30 a.m.: Weekly jobless claims and mortgage rates released.
● 8:30 a.m.: September trade balance and third-quarter productivity data released.
● Earnings: Wal-Mart.