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☆ Opinion | Leaving the Office at 5 Is Not a Moral Failing
▼ + stars: | 2023-08-16 | by ( Jessica Grose | ) www.nytimes.com time to read: +3 min

These concepts aren’t about goofing off all day or shirking responsibility; they’re about creating reasonable boundaries based on actual job descriptions. This shouldn’t be framed as a moral failing. Executives should take note: Laying down acceptable boundaries between the home and work lives of your employees doesn’t mean less profit. Not everyone should be a raging ambition monster — it is not sustainable for a varied and functional workplace. If, as a manager, you’re constantly requiring people to work overtime or out of the scope of their job description, it’s a sure sign that your company is not well structured.

Persons: ” Gabrielle Judge, ”, Williams, Lora Kelley, you’re Organizations: ” Harvard Locations: Britain

☆ Elizabeth Holmes Must Report to Prison on May 30 and Pay Restitution
▼ + stars: | 2023-05-18 | by ( Lora Kelley | ) www.nytimes.com time to read: +1 min

The LatestElizabeth Holmes, the disgraced founder of the failed blood testing start-up Theranos, who was convicted last year on charges that she defrauded investors of more than $100 million, has lost her latest bid to stay out of prison while she appeals her conviction. Ms. Holmes, whose case cast a harsh light on Silicon Valley’s culture of hubris, must report to prison on May 30, a judge ruled after the U.S. Court of Appeals for the Ninth Circuit rejected her attempt on Tuesday to remain free on bail. Ms. Holmes and her top lieutenant at Theranos, Ramesh Balwani, who was found guilty of fraud in a separate trial and who began serving his prison sentence last month, were also ordered to pay $452 million in restitution to victims of the company’s fraud. Of that total, the judge, Edward J. Davila of the U.S. District Court for the Northern District of California, who oversaw both trials, determined that Ms. Holmes and Mr. Balwani should pay $125 million to the media mogul Rupert Murdoch, who invested in Theranos. Walgreens and Safeway, which had entered into business deals with the company, were also identified as victims for the purposes of restitution.

☆ The Bearer of Bad News
▼ + stars: | 2023-05-05 | by ( Lora Kelley | ) www.nytimes.com time to read: 1 min

A short list of moments in the day when Roger Lee is thinking about layoffs: while waiting for someone to show up to a Zoom call. Though Mr. Lee, 36, reads bad news constantly, he remains a stalwart optimist about tech. He recognizes the pain that layoffs cause, but he also believes the industry will “100 percent” bounce back. And Mr. Lee believes that talking openly about layoffs in the industry he loves is healthy. If people are speaking openly about layoffs, he reasons, workers can find new jobs efficiently.

☆ First Republic Is Sold: What to Know
▼ + stars: | 2023-05-01 | by ( Lora Kelley | ) www.nytimes.com time to read: +1 min

The federal government seized First Republic Bank and sold it JPMorgan Chase on Monday, ending the lender’s six-week-long free fall and reassuring depositors that their money is safe. Widely viewed as the most at-risk bank since Silicon Valley Bank and Signature Bank failed in March, First Republic lost $102 billion in deposits last quarter (more than half the $176 billion it held at the end of last year). Over that period, the bank also borrowed some $92 billion, mostly from government-backed lending groups and the Federal Reserve. First Republic Bank’s failure had much the same roots as the collapses of Silicon Valley Bank and Signature Bank — spooked depositors and investors pulling their money and selling their shares in droves. JPMorgan will “assume all of the deposits and substantially all of the assets of First Republic Bank,” the Federal Deposit Insurance Corporation said it an statement, adding that its insurance fund would have to pay out an estimated $13 billion to cover First Republic’s losses.

☆ Higher Food Prices Bring Bigger Profits, but Consumers Start to Resist
▼ + stars: | 2023-04-28 | by ( Lora Kelley | ) www.nytimes.com time to read: 1 min

Brenetta Smith used to buy brand-name foods like Oreos and Doritos without thinking twice. But when she noticed that food prices at her local supermarket, Aldi, were soaring, she realized she had to do something different: “I have to change the way I shop,” she said. So Ms. Smith, 40, a stay-at-home parent in Memphis, started stocking up on dry goods like rice and flour, freezing meat that she bought on sale and avoiding packaged foods, which meant no more Oreos and Doritos. “Even when the world returns to normal, you can still maximize your paycheck and your income,” Ms. Smith said. She started posting budget tips on TikTok in December, and she quickly amassed a following.

☆ Are Blue Checks Uncool Now?
▼ + stars: | 2023-04-25 | by ( Callie Holtermann | Lora Kelley | ) www.nytimes.com time to read: +1 min

Twitter’s blue check mark was once a coveted status symbol. The shift came as Elon Musk, the company’s chief executive, continued to roll out Twitter Blue, a subscription service that offers special features like tweet-editing in addition to the blue badge — for $8 a month. Now that anyone can purchase a blue check, many users find the symbol newly uncool. Users who value the symbol enough to pay for it are being shouted over by a chorus of prominent users who say verification is no longer worth it. Can the blue check remain desirable now that it has lost its air of exclusivity?

For many shoppers, Bed Bath & Beyond’s bankruptcy filing on Sunday was a call to action. Its 360 Bed Bath & Beyond stores would soon be closing, as would its 120 Buy Buy Baby locations. Shoppers have until Wednesday to use their coupons. Around the country, they rounded up the ubiquitous blue slips of paper offering 20 percent off, stuffed them in pouches and plastic bags, and made their way to the nearest Bed Bath & Beyond. At a store in Manhattan’s Chelsea neighborhood on Monday, Sylvia Ward, a self-described Bed Bath & Beyond aficionado from the Bronx, said news of the closings had “absolutely devastated” her.

☆ Double-Digit Price Increases Bolster Profits at Procter & Gamble
▼ + stars: | 2023-04-21 | by ( Lora Kelley | ) www.nytimes.com time to read: +1 min

Procter & Gamble, a consumer goods bellwether, said that its profit grew in the first three months of the year after it raised prices 10 percent across its brands, the second consecutive quarterly double-digit increase. The company’s profit margin expanded in the quarter, with price increases more than offsetting the rise in what it paid for raw materials. In other words, Procter & Gamble made more money even though it sold fewer products. Sales volumes at the company have declined for the past four quarters. Jon Moeller, Procter & Gamble’s chief executive, said in a statement that the company delivered strong results “in what continues to be a very difficult cost and operating environment.”

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