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☆ Meet Mona Patel, the tech entrepreneur and philanthropist who stole the show at the Met Gala
▼ + stars: | 2024-05-09 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

Read previewOn Monday night, the biggest fashion event of the year took place in New York City: the Met Gala . AdvertisementBut few made as many waves as Mona Patel, an entrepreneur who wore a custom Iris van Herpen gown to her first Met Gala. Mona Patel attends the 2024 Met Gala. Mona Patel turned heads at the 2024 Met GalaThanks to the dramatic ensemble she wore to make her Met Gala debut, Patel was among the most talked-about attendees of the event. Mona Patel at the 2024 Met Gala.

Persons: —, Mona Patel, Iris van Herpen, Patel, Sean Zanni, Vogue, Anna Wintour, Emma, John Shearer, Casey Curran, Mike Coppola, Chris Martin, Edgar Martin, Sidney Jamila, Roach — Zendaya's, Roach Organizations: Service, Metropolitan Museum, Art's Costume, Business, Rutgers University, Haute Mona, Forbes, LinkedIn, Harvard Business School, Stanford Graduate School of Business, MIT Sloan School of Management, CareFirst, Couture, Vogue India Locations: New York City, India, Florida, Mumbai

☆ Labor unions, with power and popularity rising, are still trailing on one big battle
▼ + stars: | 2024-01-28 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +3 min

High-profile strikes by writers and actors against Hollywood brought the union power to the mainstream as pictures of celebrities holding picket signs flooded social media. But one big win continues to elude labor: the need to translate its rising popularity into an increase in rank-and-file union membership, which has stagnated in recent decades. It's not a lack of support from the public that's holding unions back from making more progress in growing their ranks. Even before the big wins of 2023, polling conducted in recent years showed rising union popularity, with support at its highest level since 1965, according to 2022 data from Gallup. 'The Great Reset'In 2023, it was a banner year for American workers who support the labor movement.

Persons: Biden, —, Heidi Shierholz, I've, Thomas Kochan Organizations: United Auto Workers, UAW, Local, Chrysler Corporate, Division, Hollywood, UPS, Teamsters, Bureau of Labor Statistics, Union, Economic Policy Institute, Gallup, AFL, CIO, MIT Sloan School of Management, Cornell, ILR, SAG, Writers Guild of America Locations: Ontario , California, American, Michigan, America

☆ Why the U.S. may extend its run as the world's leading economy
▼ + stars: | 2024-01-10 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

The U.S., China and India may take turns leading the global economy this century, according to an analysis from the Centre for Economics and Business Research. The CEBR forecast suggests China could potentially take the top spot as the world's largest economy by gross domestic product as early as 2037. "The ranking of which is the largest economy in the world — that doesn't take into account things like living standards. Around the world, policymakers are spending large sums of public funds to prepare for social and environmental challenges that may be ahead. Watch the video above to learn more about the race to be the world's largest economy.

Persons: Nina Skero, Mariana Mazzucato, we're, China that's, Joe Biden, Xi Jinping, Yasheng Huang, Rajiv Biswas Organizations: U.S, Centre for Economics, Business Research, University College London, Washington, MIT Sloan School of Management, P Global Market Intelligence, CNBC Locations: China, India, U.S, Japan, South Korea, Asia, Pacific

☆ 6 ways to get the best deals on Black Friday and Cyber Monday— and how to avoid scams
▼ + stars: | 2023-11-24 | by ( Sebastian Cahill | ) www.businessinsider.com time to read: +6 min

Black Friday and Cyber Monday are full of deals this year, both online and in-store. The best ways to take advantage of Black Friday deals:Know what you're looking for and make a list. AdvertisementPlan which credit card to use for which purchases. Customers looking for a new credit card can also pick smarter by choosing a card with a 0% intro APR, according to Motley Fool. AdvertisementCommon schemes to avoid on Black Friday:Watch for "doorbuster deals," and don't buy just because of large discounts.

Persons: —, Motley, Todd Christensen, Kimberly Palmer, Palmer, Buyers, you've Organizations: Service, MIT Sloan School of Management, CBS

☆ Toyota, Honda and Hyundai are raising wages in wake of big UAW wins
▼ + stars: | 2023-11-14 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —The United Automobile Workers’ won big wage and benefit gains in tentative contract agreements with Ford, General Motors and Stellantis. Now, non-union companies are rushing to give their non-unionized workers raises, too. Toyota said it’s raising wages by more than 9%, and Honda announced 11% wage hikes beginning next year. While the auto companies didn’t directly attribute their raises to the UAW, the UAW has said it will be targeting non-union factories in the wake of its big wins. UAW President Shawn Fain already encouraged non-union autoworkers to join the UAW, and Fain has called the non-union wage increases the “UAW bump.” The UAW hopes its new contracts with Detroit automakers will inspire other workers to unionize.

Persons: ” Hyundai, ”, A.J, Jacobs, Shawn Fain, autoworkers, Fain, ” Fain, Tesla, Thomas Kochan Organizations: New, New York CNN, United Automobile Workers ’, Ford, General Motors, Toyota, Honda, Hyundai, UAW, Labor, East Carolina University, Foreign, Detroit, Subaru, Volvo, BMW, Mercedes, MIT Sloan School of Management Locations: New York, Alabama, Georgia, United States, “

☆ The UAW won big against Detroit automakers. Unionizing Tesla and Toyota will be tougher
▼ + stars: | 2023-11-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

But the UAW’s ambitious plans to organize Tesla and other non-union automakers face steep odds. To grow, the UAW will need to gain a foothold at non-union automakers, which produce more than half of the cars assembled in the United States. Historically, UAW talks with the Detroit automakers have been closely watched by non-union automakers and suppliers. Anti-union companiesThe UAW will have to overcome weak protections for labor organizing in the United States and automakers’ aggressive tactics to defeat unions. It may be easier for UAW to organize Volkswagen and other European automakers like BMW and Mercedes-Benz than automakers from Asia, experts say.

Persons: Tesla, Shawn Fain, ”, Harry Katz, “, Thomas Kochan, Tesla's, Justin Sullivan, Bill Lee, Nikki Haley, Joe Biden, Kochan, ” Kochan, “ There’s, “ Fain, he’s, Harley Shaiken, Jesse Jackson, John J, Kim, Elon Musk, Musk, “ Tesla, ” Shaiken, Biden, Erica Smiley, Smiley, ‘ we’ve, won’t Organizations: New, New York CNN, United Auto Workers, Ford, General Motors, Jeep, Chrysler, Detroit automakers, UAW, American, Toyota, Hyundai, Honda, Volvo, Mercedes, BMW, Nissan, Volkswagen, Cornell University’s School of Industrial and Labor Relations, Labor, Companies, Employers, National Labor Relations Act, MIT Sloan School of Management, Getty, Workers, Benz, Tennessee Gov, Former South Carolina Gov, Environmental Defense Fund, Alabama, M University, Jackson State University, University of California, Berkley, Chicago Tribune, Tribune, Service, Tesla, National Labor Relations Board, Employees, Bloomberg, CNN, Biden Union, Union, Biden, Justice, Detroit Locations: New York, United States, California, Texas, Tesla's Fremont , California, Tennessee, Kentucky, Alabama, Volkswagen’s, Chattanooga, Michigan, Detroit, Chicago, Chattanooga , Tennessee, Asia, Europe, Tesla’s Fremont California, ”

☆ China’s leaders speed towards Japanisation
▼ + stars: | 2023-10-20 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

LONDON, Oct 20 (Reuters Breakingviews) - China’s real estate market is in decline. The trouble is that China’s economic imbalances are far worse than Japan’s in 1990. Yet China’s GDP per capita has reached only half of Japan’s level in 1990. China’s economic misdirection is catalogued in Yasheng Huang’s “The Rise and Fall of the East”. After 1978 the authorities gave provincial governments substantial freedom to promote economic growth and rewarded them for meeting a growth target.

Persons: Xi, Xi Jinping, Huang, –, Xi’s, Beijing’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Monetary Fund, South, Asian, IMF, Reuters Graphics Reuters, Bank for International, MIT Sloan School of Management, HK, Communist, Huawei, Washington, Thomson Locations: Marrakech, People’s Republic, China, South Korea, Japan, deflate, Tokyo, California, Beijing, Taiwan, Communist

☆ UAW strike: There are no winners and losers in labor negotiations, professor says
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW strike: There are no winners and losers in labor negotiations, professor saysThomas Kochan, post-tenure George Maverick Bunker professor at the MIT Sloan School of Management, discusses the United Auto Workers strike and says "we need to find a settlement that works for both parties, and works for the consumers, and works for the national economy."

Persons: Thomas Kochan, George Maverick Organizations: UAW, MIT Sloan School of Management, United Auto Workers

☆ Bosses are tracking how long you're working — and using it to judge your performance. It's a terrible way to get the best out of workers.
▼ + stars: | 2023-09-07 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Many companies with remote or hybrid workforces use tracking software to monitor their workers. An MIT lecturer said tracking hours wasn't a good productivity measure. As office attendance and productivity tracking become increasingly common, more companies are using it to evaluate, discipline, and even fire employees. About three-quarters of respondents in the ResumeBuilder.com survey said they had fired employees based on findings from their tracking software. But if US companies are truly concerned about maximizing their employees' productivity, some of them may be doing it all wrong.

Persons: —, they're, Slack, Aaron Terrazas, Terrazas, Robert C, Pozen, Paul Rubenstein, Rubenstein, Stacie Haller Organizations: MIT, Service, Tech, Meta, Employees, MIT Sloan School of Management Locations: Wall, Silicon

☆ Working in an office full time is a no-go for some people who desperately want remote work
▼ + stars: | 2023-08-24 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Working adults or job seekers tend to prefer remote work over being in the office full time, per Bankrate. New survey results from Bankrate found 64% of US adults who are part of the workforce are in favor of fully remote work instead of work done all in person. AdvertisementAdvertisementOne person who is in a new fully remote position had previously been working remotely as an ad tech contractor. "I think fully remote work is going to be tough for them to find," Pozen said. AdvertisementAdvertisementAre you thinking about switching jobs or have already quit because of return to office requirements or a desire for flexible work?

Persons: Bankrate, YouGov, Mark Hamrick, it's, Robert C, Hamrick, Pozen, Paul Rubenstein, Visier, you've, Rubenstein, Robert Half Organizations: Service, MIT Sloan School of Management, Workers Locations: Wall, Silicon, Bankrate

☆ Will AI be an economic blessing or curse? History offers clues
▼ + stars: | 2023-08-07 | by ( Mark John | ) www.reuters.com time to read: +6 min

Backers of AI predict a productivity leap that will generate wealth and improve living standards. The productivity gains it was once lauded for have slowed across many economies. In a globalised economy, there are other reasons to doubt whether the potential gains of AI will be felt evenly. That is just one of several factors that will help determine how AI shapes our economic lives - from antitrust policies that ensure healthy competition among AI suppliers through to re-training of workforces. "The question is: will AI exacerbate existing inequalities or could it actually help us get back to something much fairer?"

Persons: Richard Erkhov, Yiannis, Simon Johnson, Johnson, Daron Acemoglu, jenny, Natixis, Stefano Scarpetta, MIT's Johnson, Mary Towers, Eva Mathews, Mark John, Catherine Evans Organizations: REUTERS, MIT Sloan School of Management, McKinsey, Hollywood, Reuters, Labour, Social Affairs, Economic Cooperation, Development, UN, POWER, Britain's Trades Union, OECD, Thomson Locations: Pascal, Nicosia, Cyprus, U.S, American, Paris, Bengaluru

☆ ECB interest rate hike isn't enough to cool inflation in a timely manner, professor says
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB interest rate hike isn't enough to cool inflation in a timely manner, professor saysAthanasios Orphanides, professor at the MIT Sloan School of Management and former governor at the Central Bank of Cyprus, discusses the European Central Bank's 25-basis-point interest rate hike.

Persons: Athanasios Orphanides Organizations: MIT Sloan School of Management, Central Bank of Cyprus, Central

☆ Want to know how to get ready for the rise of AI? Dig into the past.
▼ + stars: | 2023-07-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

It's why top researchers are looking to the past as a guide to predict how generative AI could affect workers' jobs in the years and decades to come. "It's possible that in the end, we get better jobs, but in the short term, there's a lot of disruption," Mollick said. But Raymond warned that AI could produce some less-desirable outcomes for customer-service workers, particularly if customer-support chatbots become much more capable and advanced. The extent to which AI displaces jobs will depend on how quickly it scales what Mollick calls the "three levels" of work: tasks, jobs, and systems. Instead, what I would be thinking about is: How do you figure out how to use it to do your job better?"

Persons: Ethan Mollick, Mollick, Carl Benedikt Frey —, Frey, Lindsey Raymond —, —, Raymond, that's, chatbots, Oded, There's Organizations: Service, University of Pennsylvania's Wharton School, MIT Sloan School of Management, White, National Bureau of Economic Research Locations: Wall, Silicon, Oxford, COVID, Columbia

☆ Billionaire Mark Cuban swears by this ‘powerful’ negotiation hack: It’s ‘money in the bank’
▼ + stars: | 2023-07-12 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Mark Cuban often sits quietly while his "Shark Tank" co-hosts are in a bidding war — and it isn't a coincidence. There will be times when someone walks in on 'Shark Tank' and I'm thinking to myself: 'There's no way I'm interested. "When I listen to the other sharks, they're going to tell me if I have any competition financially to do a deal. "Silence is money … money in the bank." Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.

Persons: Mark Cuban, Chris Voss, It's, Cuban, Barbara Corcoran, I'm, they've, Warren Buffett Organizations: Fireside, MIT Sloan School of Management, CNBC Locations: Cuban

Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry. Coinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai. But he's created some lawsuits, and I think it's quite unhelpful for the industry in the U.S. writ large." "The biggest fear of crypto companies is that regulation will cause panic among crypto investors and prices will go down.

☆ MBA professors identified which kinds of workers are most at risk when new tech comes along — and the ones who'll stay relatively safe
▼ + stars: | 2023-05-09 | by ( Roberta Kwok | Kellogg Insight | ) www.businessinsider.com time to read: +12 min

That allowed them to track how breakthrough technologies impacted the exposure of workers in relevant occupations over time. Based on U.S. Census surveys from 1910 to 2010, the team found that an increase in technology exposure was linked to a decline in employment. These employees saw their wages slow down by more than twice as much as average workers in the same occupation with the same level of technology exposure. Even when their technology exposure did go up, their income didn't slow down as much as it did in other types of occupations. "Not all technology is bad for workers," Seegmiller says.

☆ A billionaire's top advice for success? Cut out toxic people
▼ + stars: | 2023-05-08 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Berkshire CEO Warren Buffett and vice chairman Charlie Munger doled out business and life advice. Munger's "great lesson in life" is to cut out toxic people who can hinder your path to success. Munger, in particular, stressed that toxic people could hinder someone's path to success. And one in nine US workers have said they've experienced a toxic workplace. And if that toxic manager or employee doesn't seem to be changing, per Munger's advice, it may be time to cut them loose.

☆ What Home Depot's billion-dollar pay raise may help prove about workers
▼ + stars: | 2023-04-30 | by ( Bob Woods | ) www.cnbc.com time to read: +7 min

"We are confident we can make the investments needed to remain competitive in a tight labor market while also growing our profitability." "The [home improvement] environment seems to be weakening, not accelerating, and therefore incremental wage investments at this time would open the door to more questions and surprise. "They're behaving as they should given the tight labor market, showing leadership and not just thinking about a 12-month timeframe. And in a tight labor market, it's getting increasingly difficult to keep talent [if] you pay unlivable wages and [offer] few opportunities for growth and success." It's hard to say when, and if, Home Depot will see a demonstrable return on the monumental expenditure for its frontline workers.

☆ A grassroots group took on Amazon and won. Then came the hard part
▼ + stars: | 2023-04-01 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Amazon still refuses to recognize the union or come to the bargaining table, dashing the Staten Island workers’ hopes of creating their first contract. Union organizer Christian Smalls (L) celebrates following the April 1, 2022, vote for the unionization of the Amazon Staten Island warehouse in New York. “I told Christian, ‘We have a problem, you need to stop traveling, you need to focus on the workers,’” Goodall told CNN. The company has claimed the independent federal agency tasked with overseeing union elections exerted “inappropriate and undue influence” with the Staten Island effort. An Amazon employee signs a labor union authorization for representation form outside the Amazon LDJ5 fulfillment center in the Staten Island borough of New York, on Monday, Feb. 7, 2022.

☆ Writing your résumé with AI makes it easier to find a job, a study finds. But this edge could vanish once everybody's doing it.
▼ + stars: | 2023-03-01 | by ( Madison Hoff | Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Using AI to help write your résumé improves your odds of landing a job, a study found. While the study didn't use ChatGPT, it points to AI's potential to help job seekers. Meaning, van Inwegen said, that employers "do care about" résumé writing. But if AI tools like ChatGPT proliferate — and millions of job seekers begin using AI tools to craft their résumé, it might get harder to stand out. "Everyone's résumé will have gone through some sort of algorithmic checker," van Inwegen said.

☆ A mom of 3 quit her toxic job to be a reseller on Poshmark. She loves it but warns it's a '24/7' commitment.
▼ + stars: | 2022-11-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

The 48-year-old New Yorker now works full time selling clothes, shoes, and bags exclusively through the reseller platform Poshmark. She say that she "loves" what she does and that the decision to leave her former employer "forever changed" her life. She says the work of shopping, sanitizing, photographing, listing, packaging, and shipping could make it feel like a "24/7 job." She does everything by herself and says she typically works at least 12-hour days, shipping items every day except Sunday. Finally, Murray says that while one doesn't necessarily have to quit their job to be successful on Poshmark, they do have to "go full time mentally."

☆ Toxic company cultures are driving workers to quit their jobs. Here's how to spot the signs before accepting a job.
▼ + stars: | 2022-11-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Toxic company cultures are the main reason that workers quit their jobs, according to research from MIT. Organizational psychologist Adam Grant says being aware of the signs of bad work culture can help. The research found that toxic work culture was the biggest cause of attrition, even more so than bad pay or job insecurity. How can candidates identify a bad work culture without insulting their potential employers? Grant recommends familiarizing yourself with the key signs of bad workplace culture and carefully analyzing the company stories and values.

☆ Fact Check-EIA’s ‘days of supply’ figure does not show that the United States will ‘run out of diesel by Thanksgiving week’ in 2022
▼ + stars: | 2022-11-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

The claim was highlighted by conservative political commentator Tucker Carlson, who mentioned it during a segment of his show on Oct. 27 (youtu.be/lUZoli8oekg?t=181)“This country is about to run out of diesel fuel. According to data from the Energy Information Administration by the Monday of Thanksgiving week, that’s 25 days from now, there will be more no more diesel,” he said. EIA DATAThe EIA data for the week ending October 28 showed the United States had “25.8 days” of supply of total distillate. “Days of supply does not consider other sources like the amount of distillate fuel being produced at U.S. refineries and the amount of distillate fuel imported into the United States,” they said. The United States will not “run out of diesel” by the Monday of Thanksgiving week in 2022, industry experts told Reuters.

☆ Baristas in San Francisco went on strike. Their robot co-workers went right on serving
▼ + stars: | 2022-10-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

For three days last month, 1,000 food-service workers at SFO went on strike over wages and working conditions. For decades, robots have been replacing, or at least nudging aside, human labor. But at SFO, robot baristas didn't simply replace humans — they crossed a picket line. Cafe X robot baristas stayed on the job when food-service workers went on strike at San Francisco International Airport last month. The short version is: Every new robot per thousand human workers reduces employment by 0.2 percentage points and decreases wages by 0.42%.

☆ Justice Ketanji Brown Jackson's potential impact on corporate America "cannot be overstated"
▼ + stars: | 2022-10-12 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +7 min

Ketanji Brown Jackson was sworn into the Supreme Court in June and is now hearing cases. But political and social tides could be changing: Ketanji Brown Jackson was sworn in as the first Black female Supreme Court justice in June, following Justice Stephen Breyer's retirement. While Biden makes moves in the political sphere, corporate America, too, is trudging forward. Jackson's work in the Supreme Court could inspire leaders in different sectors to further advance diversity, equity, and inclusion, sources said. Tina Opie, a Fortune 500 strategist and an associate professor of management at Babson College, is hopeful about the future of corporate America.

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