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☆ Dave Calhoun was supposed to turn Boeing around, but after 4 years on the job, he's out. Here's where things went wrong.
▼ + stars: | 2024-03-29 | by ( Pete Syme | ) www.businessinsider.com time to read: +8 min

It makes him the second successive chief to go after a 737 Max crisis. AdvertisementOn Monday morning, Dave Calhoun became the second successive Boeing CEO to lose his job in the wake of a 737 Max crisis. Muilenburg was terminated as the planemaker fought for its reputation after 346 people died in two 737 Max 8 crashes in 2018 and 2019. After the longest-ever grounding for a US airliner, the 737 Max was ungrounded 10 months into Calhoun's reign. Win McNamee/Getty ImagesMost people's concerns about the 737 Max looked to have been assuaged, until the Alaska Airlines blowout on January 5.

Persons: Dave Calhoun, —, Stan Deal, Calhoun, Boeing's, Dennis Muilenburg, Muilenburg, Max, Dennis, Win McNamee, Bob Clifford, Timothy Hubbard, Hubbard, Clifford, DAVID RYDER, Critics, Justin Green, Green Organizations: Boeing, Service, Airbus, Federal Aviation Administration, MCAS, Alaska Airlines, National Transportation Safety, Justice, FBI, Ethiopian, Alaska Air, United Airlines, Boeing's, Street Journal, The, Current, Business, University of Notre Dame, CNBC Locations: MCAS, Southwest , Alaska, Calhoun, Virginia, Seattle, Boeing's, Renton , Washington

☆ Official Amazon HR document reveals a spike in employees put on PIPs during a time of record layoffs
▼ + stars: | 2024-03-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +10 min

Layoffs vs. terminationsThe spike in PIPs coincided with 27,000 layoffs that Amazon announced between November 2022 and March 2023. "Managers, however, do not engage in performance management work eagerly. "To suggest we use our performance management process to drive any other outcome, such as reducing our employee base, is wrong," Callahan added in a statement. PIPs and quiet firingSome Amazon employees previously told BI that the company had put more people on PIPs as part of what they perceived as the quiet-firing push. Amazon had roughly 400,000 total corporate employees in that period, according to another internal document obtained by BI.

Persons: They're, aren't, Margaret Callahan, Callahan, Erik Gordon, David Ryder, cumulatively, Peter Cappelli, Cappelli, Amazon's, couldn't, Eugene Kim, Peter Capelli Organizations: Amazon, Business, Experience, Technology, BI, University of Michigan, Pivot Employees, University of Pennsylvania, Wharton's Center, Human Resources

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ Boeing was once known for safety and engineering. But critics say an emphasis on profits changed that
▼ + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +22 min

Boeing is back in the headlines for all the wrong reasons again after the Alaska Airlines 737 Max 9 incident. Boeing workers participating in a "Quality Stand Down" at Boeing's 737 Max factory in Renton, Washington on January 25, 2024. One of the first Boeing 737 Max jets on the production line at the company's manufacturing facility in Renton, Washington, U.S., on Monday, Dec. 7, 2015. The airlines around the world that have already bought Boeing planes basically need to keep using those models, whatever the problems. Commercial pilots are certified on specific models and are not able to easily move from single-aisle to widebody versions of Boeing jets, let alone between a Boeing and an Airbus jet.

Persons: I’m, Dave Calhoun, we’ve, ”, “, Calhoun, Max, Jason Redmond, Stan Deal, Ed Pierson, McDonell Douglas, Critics, ” Ron Epstein, McDonnell Douglas, Jim McNerney, Tammy Duckworth, Aaron Schwartz, ‘ We’re, Richard Aboulafia, Joshua Drake, Boeing Calhoun, Bank of America’s Epstein, it’s, Pierson, Max ”, Robert Clifford, people’s, ” Calhoun, David Ryder, Aboulafia, Boeing’s Organizations: New, New York CNN, Boeing, Alaska Airlines, National Safety Transportation Board, Pilots, Max, Alaska Air, Getty, Foundation for Aviation Safety, CNN, “ Boeing, Bank of America, General Electric, Procter, Gamble, McKinsey, Co, GE, Associated, Pentagon, Capitol, FAA, Airbus, Joshua Drake Photography, Blackstone Group, Nielsen, Bank of, Aviation, Bloomberg, Ethiopian Aircraft Accident, US National Transportation Safety Board, Internal Locations: New York, Renton , Washington, AFP, Alaska, Soviet Union, Pacific, Chicago, Seattle, Washington, DC, Mobile , Alabama, Wichita, Oklahoma, Carolina, South Carolina, Calhoun, Indonesia, Ethiopia, Renton , Washington , U.S

☆ 'Tax the bad' to boost climate finance, COP28 panel advises
▼ + stars: | 2023-11-29 | by ( Mark John | ) www.reuters.com time to read: +4 min

[1/3] A general view shows Marathon Petroleum's refinery, following Russia's invasion of Ukraine, in Anacortes, Washington, U.S., March 9, 2022. Higher carbon taxes - including levies on emissions from the maritime and aviation sectors - should be among options COP28 studies, the panel recommended. Subsidies for fossil fuels totalled $1.3 trillion, and substantially more if counting the societal cost of dealing with emissions and pollution. Co-chair Nicholas Stern, professor at LSE/Grantham Research Institute, said there was a compelling case for energy companies to make voluntary contributions. "I think that moral obligation is something that will be emphasised at COP28, and indeed before and after," he said.

Persons: David Ryder, Amar Bhattacharya, Vera Songwe, Nicholas Stern, Mark John, Barbara Lewis Organizations: REUTERS, Summit, United Arab, Brookings, Center, Sustainable Development, Investments, World Bank, LSE, Grantham Research Institute, Aviation, Thomson Locations: Ukraine, Anacortes , Washington , U.S, Dubai, United Arab Emirates, Paris, COP28, China

☆ Clorox's cyber chief leaves as recovery from cyberattack continues - Bloomberg News
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/David Ryder/File Photo Acquire Licensing RightsNov 15 (Reuters) - Clorox's (CLX.N) chief information security officer, Amy Bogac, has left the company as it works to recover from a cyberattack, Bloomberg News reported on Wednesday, citing an internal memo. The incident in August threw the cleaning supplies maker's order fulfillment facilities out of gear for more than a month, and forced it to trim its annual revenue forecast. The memo does not address the reasons for Bogac's departure, the Bloomberg report said, adding that Chau Banks, Clorox's chief information and data officer, would fill the role on an interim basis. The Pine-Sol maker's net revenue fell 20% in the first quarter ended Sept. 30, when its products were off the shelves for a short period following the cyberattack. Clorox was among several companies including MGM Resorts International (MGM.N) and Caesars Entertainment (CZR.O) to be hit by cyber attacks this year.

Persons: David Ryder, Amy Bogac, Clorox, Chau Banks, Juveria Tabassum, Shilpi Majumdar Organizations: Life Care, of Kirkland, REUTERS, Bloomberg, Reuters, MGM Resorts International, Caesars Entertainment, Thomson Locations: Kirkland , Washington , U.S, Chau

☆ Microsoft’s Chris Young on Bringing AI to Main Street
▼ + stars: | 2023-11-11 | by ( Tom Dotan | ) www.wsj.com time to read: 1 min

Microsoft strategy head Chris Young says sports leagues and pharmaceutical companies are potential AI customers outside the tech industry. Photo: David Ryder/Bloomberg NewsMicrosoft has spent most of this year touting the promise of artificial intelligence and how it can reshape society. The job for Chris Young, head of Microsoft ’s corporate strategy, is making sure that hype turns into purchases of Microsoft’s AI tools. Young leads a hundreds-strong team that works with outside partners like Facebook parent Meta Platforms to develop products made with technologies such as augmented reality and generative AI. Young also oversees Microsoft’s venture investment arm M12, which does early-stage startup investments.

Persons: Chris Young, David Ryder, Young Organizations: Microsoft, Bloomberg, Facebook

☆ McDonald's tried to buy Panera Bread, and 5 other reveals from founder Ron Shaich's book
▼ + stars: | 2023-10-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

McDonald's tried to buy PaneraMcDonald's expressed interest in buying Panera in the early 2000s, Shaich writes. More than a decade after meeting with McDonald's, Shaich started seriously considering selling Panera as he prepared to step down from the business. Shaich writes in the book that he never really left, staying active as executive chair of the company, before he rejoined as a co-CEO in 2012. Shaich writes that he knew at the time that he would retire, but he hadn't yet announced it. Shaich writes that Panera received a patent to use video to review the accuracy of sandwich orders.

Persons: Ron Shaich, Scott Mlyn, Shaich, Louis, Panera, that's, McDonald's, Bill Moreton, wasn't, Donatos, Howard Schultz, David Ryder, Schultz, Au Bon, Steve Ells, Jerry Cleveland, Obama, hadn't Organizations: CNBC, Clark University, Louis Bread Company, Grill, Boston, Starbucks, Reuters Starbucks, Denver Post, Getty, Obama Locations: Boston, Seattle, Panera, India, aren't

☆ Clorox says certain business operations disrupted in cyber attack
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-Healthcare workers carry Clorox wipes and other supplies into the Life Care Center of Kirkland, the long-term care facility linked to several confirmed coronavirus cases in the state, in Kirkland, Washington, U.S. March 5, 2020. REUTERS/David Ryder/File PhotoAug 14 (Reuters) - Clorox (CLX.N) said on Monday it had taken certain systems offline after unauthorized activity disrupted some business operations. It said it was implementing workarounds for certain offline operations in order to continue servicing its customers and had engaged third-party cybersecurity experts to support its investigation and recovery efforts. The company said it was also coordinating with law enforcement to address the issue that had affected some of its information technology systems. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: David Ryder, Ananya Mariam Rajesh, Shinjini Organizations: Life Care, of Kirkland, REUTERS, Thomson Locations: Kirkland , Washington , U.S, Bengaluru

☆ Forget about the AI apocalypse. The real dangers are already here
▼ + stars: | 2023-06-16 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +7 min

Left to right: Microsoft's CTO Kevin Scott, OpenAI CEO Sam Altman, Google DeepMind CEO Demis Hassabis. Joy Malone/David Ryder/Bloomberg/Joel Saget/AFP/Getty ImagesSome AI industry experts say that focusing attention on far-off scenarios may distract from the more immediate harms that a new generation of powerful AI tools can cause to people and communities, including spreading misinformation, perpetuating biases and enabling discrimination in various services. “Motives seemed to be mixed,” Gary Marcus, an AI researcher and New York University professor emeritus who testified before lawmakers alongside Altman last month, told CNN. In his testimony before Congress, Altman also said the potential for AI to be used to manipulate voters and target disinformation were among “my areas of greatest concern.”Even in more ordinary use cases, however, there are concerns. Influencing regulatorsRegulators may be the real intended audience for the tech industry’s doomsday messaging.

Persons: Sam Altman, Altman, Demis Hassabis, Kevin Scott, Elon Musk, Joy Malone, David Ryder, Joel Saget, ” Gary Marcus, ”, Marcus, Gary Marcus, Eric Lee, Emily Bender, Bender, ” Bender, ’, we’re Organizations: CNN, Google, Microsoft, Bloomberg, Getty, New York University, OpenAI, University of Washington, Laboratory, Washington Locations: Valley, AFP, Washington , DC, Congress

For now, tech companies seem to view both trust and safety and AI ethics as cost centers. That included all but one member of the company's 17-person AI ethics team, according to Rumman Chowdhury, who served as director of Twitter's machine learning ethics, transparency and accountability team. Chowdhury referenced an initiative in July 2021, when Twitter's AI ethics team led what was billed as the industry's first-ever algorithmic bias bounty competition. Still, sources familiar with the matter said that following the layoffs, the company has fewer people working on misinformation issues. watch nowFor those who've gained expertise in AI ethics, trust and safety and related content moderation, the employment picture looks grim.

☆ Refiners Have a Lot Riding on Summer Driving Season
▼ + stars: | 2023-05-04 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Marathon Petroleum sees weakening margins in Asia and Europe as a bullish sign for U.S. crack spreads. Photo: David Ryder/Bloomberg NewsThe business of turning crude oil into fuel is still very lucrative for U.S. refiners, but recent declines in pump prices and refiner profitability elsewhere are casting a cloud over their outlook. The plunge has been especially notable for distillates, which are used for diesel and jet fuel. Ultralow sulfur diesel is roughly $2.21 a gallon in New York Harbor, down 33% year to date. Distillate cracks on the Gulf Coast—the spread between the price of crude oil and the price of distillate product—have declined to $18.41 a barrel, down 70% year to date.

☆ 2023 layoff tracker: The latest on which companies have announced job cuts
▼ + stars: | 2023-04-25 | by ( Jennifer Korn | ) edition.cnn.com time to read: +20 min

New York CNN —BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. With 11,000 job cuts announced in November and the 10,000 announced in March, Meta’s headcount will fall to around 66,000 — a total reduction of about 25%. The company announced in January that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. IndeedJob listing website Indeed.com announced cuts of approximately 2,200 employees, representing almost 15% of its total workforce, the company said in March. The cuts come after the company announced several rounds of job cuts throughout the pandemic due to falling demand, followed by rapid hiring last year.

☆ Amazon CEO Andy Jassy needs to take a page out of Mark Zuckerberg's cost-cutting playbook at Meta
▼ + stars: | 2023-04-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

Andy Jassy, CEO of Club holding Amazon (AMZN), said Thursday he's committed to investing in overall growth while creating cost efficiencies throughout the enterprise. Jim has said that Amazon needs to cut another 200,000 jobs or more to even approach pre-pandemic staffing of around 798,000 in Q4 of 2019. For example, Amazon has stopped physical store expansion, shuttered Amazon Care and Amazon Fabric, and it's letting go of devices that won't provide solid returns. Jassy also addressed Amazon's stock price during CNBC's interview. AMZN .SPX mountain 2020-04-09 Amazon vs. S & P 500 since April 2020 Bottom line Amazon needs to make additional moves to further reduce its headcount.

☆ Candida auris is just one infection fueled by rising temperatures. See how extreme climate helps spread disease, in 3 simple charts.
▼ + stars: | 2023-03-21 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

Climate change may be driving the rapid spread of Candida auris, a deadly fungus, across the US. Three charts show how extreme weather and environmental changes help spread disease. Nicolas Armer/picture alliance via Getty ImagesA leading theory on this fungus's sudden emergence and wide spread is that it's fueled by climate change. Whatever survives, however, is adapted to extreme heat — including the fever our bodies produce to kill off pathogens. David Ryder/Getty ImagesHumans and their infrastructure are more vulnerable to the devastating impacts of disease when they're compromised by extreme weather.

☆ Boeing denies CEO Calhoun $7 million bonus due to 777X delays
▼ + stars: | 2023-03-03 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

[1/2] Dave Calhoun, CEO of Boeing, speaks on stage during the delivery of the final 747 jet at their plant in Everett, Washington, U.S. January 31, 2023. REUTERS/David Ryder/File PhotoWASHINGTON, March 3 (Reuters) - Boeing (BA.N) Co. Chief Executive Dave Calhoun will not receive a $7 million bonus due to the company's failure to enter the 777X into service by the end of 2023, Boeing said Friday. Boeing offered the performance-based incentive to Calhoun when he replaced former CEO Dennis Muilenburg in January 2020 and required that Calhoun achieve seven milestones by the end of this year. Calhoun took home $7 million in pay last year, slightly less than his $7.4 million compensation in 2021, Boeing stated in the filing. The terms of the award also called for Calhoun to meet certain milestones on the Boeing-Embraer joint venture, which dissolved in 2020.

☆ Hundreds of Amazon employees join a new Slack channel to support the company's return-to-office policy after 'sensing the danger' of others calling for permanent remote work
▼ + stars: | 2023-02-28 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Some Amazon staff created a new Slack channel to support the company's new return-to-office mandate. The move came after thousands of employees joined a separate Slack channel opposing the RTO plan. Amazon employees are showing far more support for the Slack channel that opposes the new RTO policy. Hundreds of Amazon employees joined a new Slack channel last week that supports the company's new return-to-office policy, Insider has learned — just days after a much larger group of staff rushed to a separate Slack channel that's fighting against the RTO mandate. Still, remote work seems to have more support from Amazon employees, at least based on the number of people in each of the Slack channels.

☆ Boeing delivers last 747, saying goodbye to 'Queen of the Skies'
▼ + stars: | 2023-02-01 | by ( Valerie Insinna | ) www.reuters.com time to read: +4 min

"It's the airplane that redefined the industry and redefined air travel," said Guy Norris, co-author of "Boeing 747: Design and Development Since 1969." British billionaire entrepreneur Richard Branson, who was inspired to start an airline with a single Boeing 747 after getting stuck on a delayed flight, earlier on Tuesday called it a "wonderful beast" as he bid farewell. When Boeing confirmed in July 2020 that it would end 747 production, it was already only producing at a rate of half an aircraft a month. Smith said all 747 program workers were transferred to other jobs or voluntarily retired. Boeing will remain tied to the 747 through the aftermarket business and the Air Force One replacement program, which Boeing won in 2018.

☆ 5 things to know before the stock market opens Thursday, January 5
▼ + stars: | 2023-01-05 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on January 04, 2023 in New York City. Chewing things overU.S. stock markets bounced back a little Wednesday, with the S&P 500 rising 0.75%, the Nasdaq increasing 0.69% and the Dow jumping 133 points. December's jobs report is coming Friday morning, as well, so market watchers still have another big data point to chew over this week. Amazon plans bigger job cutsAmazon CEO Andy Jassy speaks during the GeekWire Summit in Seattle on Oct. 5, 2021. David Ryder | Bloomberg | Getty ImagesAmazon plans to lay off more than 18,000 employees, far more than initially expected.

Flood watches are in effect for 12 million people in Central and Northern California. The cyclone will send a pair of warm and cold fronts over Northern California, which is already rain-soaked. “When you have more water vapor in the air because the air is warmer — you can transport more water vapor quickly,” Ralph said. Although some smaller reservoirs in Northern California have filled up, larger reservoirs still have the capacity to absorb more. “I think we will have largely alleviated the short-term drought in Northern California," Swain said.

David Ryder / Bloomberg via Getty ImagesCities throughout the country are opening warming centers this week, including Chicago, Houston, San Antonio, Atlanta and Albuquerque, New Mexico. The city’s Office of Emergency Management will transform the Denver Coliseum into a 24-hour warming center starting Wednesday. Recreation centers and libraries will remain open during regular operating hours and function as warming centers Thursday and Friday. The Seattle region is also opening warming centers across King County, including overnight shelters for families experiencing homelessness. San Antonio will also open warming centers.

☆ Worker complaints alleging anti-union shutdowns rise as organizing surges
▼ + stars: | 2022-11-04 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +13 min

The company, G&D Integrated, had closed the factory, saying it had suddenly lost its decade-old contract with a Japanese company, workers said. Starbucks closed multiple stores this year following union activity. Trader Joe’s, for example, abruptly closed a wine shop in the center of New York City where workers had been organizing. Demonstrators protest outside a closed Starbucks in Seattle on July 16. More than 40 percent of the stores had union campaigns, according to data from Starbucks Workers United, the union that has been organizing the workers.

☆ These baristas are leading a nationwide campaign to unionize Starbucks. It came at a cost
▼ + stars: | 2022-11-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +13 min

Since then workers at 243 other stores spread over 38 states have voted to join Starbucks Workers United — that’s more than five stores a week. Still, most of the fired workers nationwide remain off the job, including Tambellini. “The pizza place next door [to the Starbucks store I worked at] offered me a job almost immediately,” said Tambellini. Starbucks employees and supporters react as votes are read during a union-election watch party in Buffalo, New York. The Starbucks workers are really demonstrating that it’s possible to unionize in an industry where it was thought of as impossible to organize, due to high turnover and a large percentage of young people,” he said.

☆ 3 charts show how extreme climate helped spread 218 infectious diseases, from leprosy to COVID-19
▼ + stars: | 2022-09-01 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +8 min

A new study shows extreme weather, ocean changes, and land disruption have already helped spread more than 200 pathogens. That's an extreme case of climate change creating new contact between humans and infectious diseases, but the phenomenon is widespread. Extreme heat waves, for example, can kill off many infectious viruses, bacteria, fungi, and the creatures that spread them. Whatever survives, however, is adapted to extreme heat — including the fever our bodies produce to kill off pathogens. David Ryder/Getty ImagesHumans and their infrastructure are more vulnerable to the devastating impacts of disease when they're compromised by extreme weather.

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