Solomon Trujillo’s candour at the weekend and willingness to
share his opinions on complex and sensitive local issues have been
regarded in some quarters as evidence of American brashness, even
arrogance, says Stephen Bartholomeusz in the Smage. But instead of pleading ignorance of the local issues, he gave some carefully crafted and politically aware
responses.

The general slowing in the economy is clear enough from the
numbers – it’s running at half the rate that it was this time last
year, says Elizabeth Knight in the SMH. But the market that looked
pretty shaky only six weeks ago is once again defying gravity and
pushing through record highs – due to the weight of money looking
for a parking spot.

The Australian reports there was no need for secrecy yesterday when
BHP Billiton boss Chip Goodyear met freshly ousted WMC chief executive
Andrew Michelmore for lunch at Melbourne’s less than exclusive The
River Seafood Bar & Grill. And while he wasn’t invited to lunch, Robert Gottliebsen speculates on what they could have said.

The Fin Review reports that the growth in white-collar jobs
has hit
a record pace and surpassed blue-collar occupations for the first time
in more than a year. Also in the AFR, the Federal Court has been told
that Woolworths chief executive Roger Corbett personally signed an
agreement which restricted a potential competitor to selling only one
brand of themed liquor products as a condition for the major retailer
lifting an objection to a NSW liquor licence.

On Wall Street, US stocks closed higher again overnight, as
strength in
technology, energy and metals shares helped the Dow Jones to a
three-month high – the blue chip index finished up 12.28 points at
10,578. MarketWatch has a full report here.