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☆ Inside the busy schedule of an F1 team principal who oversees 1,000 employees
▼ + stars: | 2024-06-21 | by ( Gregory Leporati | ) www.businessinsider.com time to read: +7 min

Guenther Steiner likened being the team principal of Haas F1 to "being the CEO of a small company." "The good news is no two days are the same," said James Vowles, Williams Racing's team principal. Guenther Steiner, a former team principal of the Haas F1 team who's now an ambassador for the Miami Grand Prix, said the job was sort of like running a corporation. Brown said the top traits he looked for in a team principal were selflessness, a focus on performance, and a willingness to lead by example. "Andrea is a team principal that focuses on his team, putting his people first."

Persons: James Vowles, Guenther Steiner, —, Williams, Rudy Carezzevoli, Vowles, Alex Albon, Albon, Haas, Kevin Magnussen, PETER, Steiner, I'm, Zak Brown, Andrea Stella, Lando Norris, Brown, Stella, wasn't, Andrea, he's Organizations: Williams Racing, Haas, Service, Netflix, Brawn, Mercedes, Constructors, Miami Grand Prix, Getty, McLaren Locations: Bahrain, Williams

☆ Pulitzer Prize-winning Washington Post journalists call for leadership change amid publisher scrutiny
▼ + stars: | 2024-06-20 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Two Pulitzer Prize-winning journalists at The Washington Post went on the record late Wednesday, calling for leadership change at the storied newspaper as questions swirl over the integrity of its new publisher and chief executive, Will Lewis. “Will Lewis needs to step down for the good of The Post and the public,” Higham replied in a comment on Maraniss’ post. “He has lost the newsroom and will never win it back.”Spokespersons for Bezos and The Post did not immediately comment. Inside The Post’s newsroom, morale has plunged as staffers express alarm over Lewis’ conduct and worries over the future direction of the newspaper under his leadership. “Bezos must recruit an accomplished, experienced editor whom journalists admire and trust.”

Persons: Will Lewis, “, ” David Maraniss, ” Maraniss, Jeff Bezos, Lewis, ” Scott Higham, Maraniss, “ Will Lewis, ” Higham, ”, Lewis ’, Robert Winnett, Rupert Murdoch’s, David Folkenflik, ” Lewis, Bezos, ” Bezos, Jeffrey Sonnenfeld, Sonnenfeld, Katharine Graham, Ben Bradlee, Marty Baron, ” Sonnenfeld, “ Bezos Organizations: CNN, The Washington Post, The, New York Times, NPR, Post, Yale School of Management

☆ Jeff Bezos is facing a dilemma as ethical questions surrounding The Washington Post publisher grow louder
▼ + stars: | 2024-06-18 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

New York CNN —Jeff Bezos has a decision to make — and it is one that will determine the future course of one of the nation’s most prestigious news organizations. Or he can side with his Pulitzer Prize-winning newsroom, which is repudiating their new leader in clear and unmistakable terms. And The Post reported Sunday that a “thief” who used deceptive tactics to obtain private material had ties with Winnett. The stories landed like a one-two punch in The Post newsroom, raising even more alarm and upping the panic level at the newspaper to new heights. When Bezos first appointed Lewis, staffers at The Post understood that he needed to appoint a publisher and chief executive who would shake things up in the newsroom.

Persons: Jeff Bezos, Will Lewis, Lewis, Rupert Murdoch, Sally Buzbee, Murdoch, David Folkenflik, Robert Winnett, ”, Bezos, Fred Ryan, Donald Trump, they’re, we’ve, I’m, Jeffrey Sonnenfeld, Katharine Graham, Ben Bradlee, Marty Baron, ” Sonnenfeld, “ Bezos Organizations: New York CNN, Washington Post, Fleet Street, CNN, NPR, New York Times, Post, Times, Good, Yale School of Management Locations: New York

☆ Jeff Bezos breaks his silence about turmoil at The Washington Post
▼ + stars: | 2024-06-18 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Jeff Bezos, the billionaire owner of The Washington Post, broke his silence Tuesday on the mounting turmoil within his newspaper, expressing support for maintaining high standards at the storied publication as questions swirl over the ethical integrity of its new publisher, Will Lewis. Bezos added in the memo, which was obtained by CNN, that “it can’t be business as usual” at The Post, which has been plagued by financial and audience woes. With your support, we’ll do that and lead this great institution into the future,” Bezos wrote. “But, as the newsroom leaders who’ve been shaping and guiding our coverage, you also know our standards at The Post have always been very high. That can’t change — and it won’t.”“You have my full commitment on maintaining the quality, ethics, and standards we all believe in,” Bezos added.

Persons: Jeff Bezos, Will Lewis, “, ” Bezos, Lewis, Bezos, Carlotta Cardana, ”, Lewis ’, Robert Winnett, Rupert Murdoch’s, David Folkenflik, ” Lewis, Jeffrey Sonnenfeld, Sonnenfeld, Katharine Graham, Ben Bradlee, Marty Baron, ” Sonnenfeld, “ Bezos Organizations: CNN, The Washington Post, The News, Bloomberg, Getty, New York Times, NPR, Post, Yale School of Management Locations: The, London

☆ ALICEs, DINKs, HENRYs, and More: a Complete Guide
▼ + stars: | 2024-06-17 | by ( Erin Snodgrass | Jacob Zinkula | ) www.businessinsider.com time to read: +17 min

But the terms' recent popularity suggests people want to understand how they fit into the broader economy beyond standard measurements. But that, too, is uncertain: She said she was "dangerously close" to losing the aid because her income is too high. ALICEs tend to be older or younger workers, and while they're represented across racial groups, they're more likely to be Black or Hispanic. HIFI: High Income, Financially InsecureHIFI is the latest acronym to join the club. In a 2021 Medium post, Erica Dhawan defined "geriatric millennials" as millennials born in the early 1980s.

Persons: ALICE, HENRY, Kory, Anthony Klotz, Kantenga, DINK, They've, they've, Eric Anicich, Henry, Alice, haven't, Sarah, she's, — there's, they're, Carrie, Gen Zers, Brenton, Mirlanda, Neiman Marcus, Katie Notopoulos, Paige Connell, Connell, Chrissy Arsenault, Arsenault, Jimmy Simpson, who've, Rich, Christopher Stroup, Stroup, HIFIs, Erica Dhawan, Dwahan, Louis, —, Jewel Benjamin, Benjamin, micromanaging, Erin Snodgrass, Jacob Zinkula Organizations: FIRE, Business, LinkedIn, Texas, USC Marshall School of Business, : Asset, SNAP, Los Angeles Times, DINKs, Public School, Financial Independence, Sherwood News, Federal Reserve Bank of St, Federal Reserve, University of Michigan Health, Social, Social Security Locations: POLK, City, Dallas, Boston, Massachusetts, Colorado, Santa Monica , California, millennials, Georgia

☆ Andy Sieg Could Be Citi's Next CEO If He Can Fix a Broken Wealth Business
▼ + stars: | 2024-06-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

Andy Sieg shocked the finance industry last spring when he left Merrill Wealth Management. AdvertisementBank of America analyst Ebrahim Poonawala recently argued that Citi should consider selling the wealth business if it cannot improve its profitability. AdvertisementWhile Sieg has told Citi managing directors to manage up less, a former Merrill executive who worked under him said Sieg was adept at it. Former Citi managing directorAdvertisementVahid's position will be taken by Kris Bitterly, the global head of investment products, in September. Mirroring tactics that supercharged Merrill, Sieg has changed Citi Wealth's compensation scheme to prioritize asset gathering, to the consternation of several employees.

Persons: Andy Sieg, Kevin Crain, Sieg, Crain, Jane Fraser, Fraser, Morgan Stanley, Merrill, Smith Barney, Ebrahim Poonawala, Wells, Mike Mayo, Brian Moynihan, Alex Wong, Moynihan, Fraser isn't, Mayo, anoint, Jamie Dimon, Jennifer Piepszak, Marianne Lake, Viswas Raghavan, Jane, He'd, George H, Bush, Bill Schreyer, Merrill Lynch, Dave Komansky, David Komansky, YOSHIKAZU TSUNO, Phil, Doug, Lord Abbett, David Poole, Citi's, there's, That's, Poole, Glenn Schorr, Jim O'Donnell, O'Donnell, Sieg's, Andy Sieg's, Naz Vahid, David Bailin, Bailin, Naz, Phil Waxelbaum, Vahid, Kris, Don Plaus, Keith Glenfield, Dawn Nordberg, Edward Jones, They're, Ernst & Young, he's Organizations: Merrill Wealth Management, Business, Citi, Bank of America, Morgan, BI, Merrill, Bank, Citigroup, JPMorgan, Harvard, Penn State, JPMorgan Advisors, United Arab, Citi . Citi, Work, Citi lifer, Former Citi, North, Citi Alliance, Citi Wealth, Bloomberg, Ernst &, Citizens Bank Locations: Sieg, Wells Fargo, Merrill, Bellefonte , Pennsylvania, Poole, Singapore, United Arab Emirates, Mexico, London, Aventura , Florida, Asia, Manhattan, North America

After 23 years, Braun announced the end of his management career. He described himself as "a father first, a CEO second, and a manager no more." Scooter Braun at Crypto.com Arena on December 6, 2023. Allen Berezovsky/Getty ImagesNearly one year after Bieber, Lovato, Grande, and more severed ties with Braun, the mogul said his time as a manager had come to an end. So for my entire adult life I played the role of an artist manager on call 24 hours a day, 7 days a week.

Persons: Braun, Scooter Braun, Allen Berezovsky, Bieber, Lovato, Yael Cohen, he'd Organizations: Crypto.com Arena Locations: America

☆ Wells Fargo fired a dozen people accused of faking keyboard strokes
▼ + stars: | 2024-06-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. “And that’s a symptom of a much larger problem.”In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.

Persons: CNN Business ’, Wells, ”, —, “, haven’t, ” Ashley Herd, Banks, ” Herd Organizations: CNN Business, New York CNN, ” Bloomberg, Financial Industry, Authority, Wells Fargo Locations: New York, Wells

☆ 66% of Americans give companies a failing grade for CEO pay
▼ + stars: | 2024-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Americans are fed up with massive CEO pay packages. Just 13% say companies are doing a good or excellent job at avoiding a major pay gap between CEOs and average employees. For the third year in a row, the vast majority – 66% — say companies are doing a “poor” job here. Politically, the majority of Democrats (96%), independents (83%) and Republicans (67%) agree that it’s important to avoid major pay gaps. The findings show how the issue of CEO pay strikes a chord among many Americans, some of whom are struggling to make ends meet in an increasingly expensive world.

Persons: Gallup, ”, Nell Minow, Elon Musk, Tesla, “, Cynthia Clark, Bernie Sanders, Elizabeth Warren, “ It’s, Bill George, Medtronic, Hock Tan, William Lansing, George, Dave Calhoun, Dodd, Frank, Clark, ” Minow, Minow Organizations: New, New York CNN, Bentley University, Gallup, CNN, ValueEdge Advisors, Associated Press, “, Democrats, Sens, Broadcom, Harvard Business School, Boeing, Congress Locations: New York, ”

☆ 3 actions extraordinary people take to achieve what seems impossible, from the co-founder of Moderna
▼ + stars: | 2024-06-11 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

If you need to tackle an improbable challenge, the right mindset — "a special kind of optimism" — can help, according to Moderna co-founder and chairman Noubar Afeyan. Specifically, Afeyan — who has an estimated net worth of $1.5 billion, according to Forbes — said that "extraordinary change agents" take three actions to achieve what seems impossible:They imagine. Imagination plays a crucial role "in accomplishing impossible missions," Afeyan said: You typically need to think creatively to come up with new, original ideas. But ask yourself one central question: Why do we expect extraordinary results from reasonable people doing reasonable things?" "You need to leave your comfort zone, to think in new ways, to acclimate to the unfamiliar and embrace uncertainty."

Persons: Noubar Afeyan, he's, Afeyan —, Forbes —, Afeyan, Allison Butler, Butler Organizations: Moderna, Massachusetts Institute of Technology, MIT, Sloan School of Management, Bryant University, CNBC Locations: Lebanon, Canada, Massachusetts, Cambodia, California, Cambridge, acclimate

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 21 senior execs have left since his arrival.
▼ + stars: | 2024-06-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But the leadership of its ailing wealth unit is continuing to undergo major changes under its new boss Andy Sieg. Citi's wealth unit has seen at least 21 senior executives exit since Merrill Lynch veteran Sieg joined in September. The latest is Julia Carreon, global head of wealth platform and experiences. Sieg also plans to expand Citi's already successful wealth business in Asia. Here is our running list of senior departures from Citi Wealth.

Persons: —, Andy Sieg, Merrill Lynch, Sieg, Julia Carreon, Naz Vahid, Carreon, David Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merrill, Don Plaus, Hale Behzadi, Dawn Nordberg, Morgan Stanley, Citi David, Francesco Bertoni, Alfonso Camacho Bustillo, Hoyt, Paul Hodes, Robert Hoffman, Keith Lee Hong, Li, Liu, Fernando Lopez Munoz, Alex Marshall, Eduardo Martinez Campos, Luigi Pigorini, Fernando Senso, Jeff Sutton, Naz, Vahid, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Service, Citi, Citi Wealth, Business, Bankers, Citi Global Wealth, North America, Francesco Bertoni EMEA, Hoyt Gier Global, South, Asia, Fernando Lopez Munoz Head, Tate, Eduardo Martinez Campos Head, Mark Mills Regional, Fernando Senso Castilla Global, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Paul Hodes Asia, South Asia, Keith Lee Hong Kong, Asia Pacific, Shyam Sambamurthy South Asia, Fernando Senso Castilla, America, West China, hcuccinello@businessinsider.com

☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Apple, Walmart, Microsoft, Disney, Arm, GM, DraftKings & more
▼ + stars: | 2024-06-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley resumes Broadcom as overweight Morgan Stanley resumed coverage of Broadcom , saying it's "compelling." UBS reiterates Apple as neutral UBS said its survey checks show that interest in AI remains "muted" for Apple. Morgan Stanley names DraftKings a top pick Despite gaming tax issues in Illinois, Morgan Stanley moved the gaming stock back to top-pick status. Morgan Stanley downgrades Advanced Micro Devices to equal weight from overweight Morgan Stanley said investors' expectations are "too high." UBS reiterates Micron as buy UBS raised its price target on Micron to $155 per share from $125.

Persons: Truist, Morgan Stanley, TD Cowen, Bernstein, Tesla, underperform Bernstein, Elon Musk, Disney, DraftKings, Jefferies, Colleen, Wells, Raymond James, MHK, Rosenblatt, NVDA, Melius Organizations: Microsoft, New, Broadcom, UBS, Apple, Nvidia, Disney, North America Gaming, Jefferies, JPMorgan, Honeywell, Micron, Nike, ARM, Adobe, Citi, General Motors, Bank of America, Mobile Locations: Int'l Parks, Illinois, North

☆ Betting is the ‘Achilles’ heel’ of US sports. Are leagues doing enough?
▼ + stars: | 2024-06-09 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +11 min

“But matters affecting the integrity of the game have a chilling effect across the board and governing bodies know this is their Achilles heel,” he warned. Fast forward to 2024 and the gambling industry is engrained in US sports culture with leagues, franchises, players and networks now partnering with betting organizations. “We need legislation to do things like prevent sports betting advertising, and to prevent prop betting. However, it can be often in leagues’ financial interest for betting to increase in popularity. “The sports leagues have turned to sports betting because it increases fan avidity.

Persons: Ippei Mizuhara, Shohei Ohtani, Tucupita Marcano, Jontay Porter, ” David Carter, ”, Paul Sancya, – it’s, Andrew Zimbalist, Zimbalist, ’ ”, “, William Hill, Mike Segar, Porter, Long Phi Pham, Pham, Breon Peace, Victor Matheson, Matheson, Adam Silver, Robert D, Manfred , Jr, Wayne Gretzky, Bruce Bennett, ’ Zimbalist, LeBron James, Patrick Mahomes, Connor McDavid’s, ” Matheson, ” Carter, ” Zimbalist, CNN’s Thomas Schlachter Organizations: CNN, Los Angeles Dodgers, Major League Baseball, San Diego Padres, National Basketball Association, Toronto Raptors, NBA, USC Marshall School of Business, MGM Grand Detroit, DC, Super, American Gaming, Smith College, Monmouth, Reuters, Authorities, Supreme, College of, NFL, MLB, New York Rangers, Carolina Hurricanes, Madison, Garden, “, NCAA, National Council Locations: Brooklyn, Michigan, Detroit, Washington, Oceanport , New Jersey, U.S, Porter , Brooklyn, New York City

☆ Biden spoke so low during a key White House meeting that some attendees struggled to understand his words, report says
▼ + stars: | 2024-06-05 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Read previewPresident Joe Biden during key January negotiations for a Ukraine funding deal spoke so low that some attendees had difficulty hearing him speak, according to The Wall Street Journal. AdvertisementBiden during the meeting also closed his eyes for such a duration that some wondered if he had shut out the meeting, per the report. When pressed on the issue, Biden has vigorously defended his age and his administration's accomplishments. And Democratic allies like Jeffries have also strongly vouched for Biden, telling the Journal that the president was "incredibly strong, forceful and decisive" in the January White House meeting. The White House strongly pushed back against the characterization of Biden as a poor performer, which spokesman Andrew Bates in a statement to the Journal said were "false and politically motivated claims."

Persons: —, Joe Biden, Biden, Hakeem Jeffries, Shalanda Young, Biden —, Washington —, Donald Trump, Jeffries, Nikki Haley, Nancy Pelosi, Trump, Barack Obama, Andrew Bates, Bates Organizations: Service, Wall Street, Republicans, Business, Ukraine, House Democratic, Management, Democratic, Trump, NATO Locations: Ukraine, New York, Washington, Richmond , Virginia

☆ 'Unbossing' the workplace could make Gen Zers better at their jobs, hiring experts say
▼ + stars: | 2024-06-03 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Read previewThe great unbossing is underway, with companies cutting middle management positions. Cost cutting, Gen Z's distaste for management , remote working, and increased pressure on performance are all factors in why middle managers are finding their jobs are most at risk during layoffs. She said that not having a micromanager picking apart their work could benefit Gen Zers who don't feel they need to be "spoon-fed." Doing it rightThose who are skeptical of companies axing middle managers say it could mean junior staff won't receive the mentorship needed to climb the ladder. Camberato said staffers of all generations, from Boomers to Gen Zers, need to evolve, "especially as technology advances."

Persons: —, Sophie O'Brien, O'Brien, Zers, micromanagers, they'll, We're, Catherine Rymsha, The University of Massachusetts Lowell, Rymsha, Joe Camberato, Camberato, Gen Zers Organizations: Service, Business, The University of Massachusetts, Business Capital, Boomers

☆ How to find financial happiness if you're suffering from lifestyle creep, according to a Harvard professor
▼ + stars: | 2024-06-02 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Harvard professor Arthur Brooks emphasized curbing bad spending habits for financial happiness. Brooks noted that rising credit card debt is affecting the financial well-being of many Americans. AdvertisementBestselling author and Harvard professor Arthur Brooks believes that achieving financial happiness isn't solved by chasing extra income but by curbing bad spending habits. AdvertisementBorrowing for consumption is the most damaging financial habitBrooks pointed to the recent rise in credit card debt as a factor that affects many people's financial happiness. Credit card debt has become a crisis in the US following the pandemic when many Americans used up their savings.

Persons: Arthur Brooks, Brooks, — Organizations: Service, Harvard Kennedy School, Harvard Business School, JPMorgan Chase, JPMorgan Chase Co

☆ What to do if you think you're underpaid
▼ + stars: | 2024-06-02 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +5 min

"It never occurred to me until that conversation that I was severely underpaid." She said she didn't think to negotiate her salary when she received the job offer. "The term underpaid shouldn't be used to compare you to a colleague," said Sho Dewan, career expert and founder of Workhap. One option if you suspect you're being underpaid is to request a salary adjustment from your employer. This is where that market research comes in handy, along with highlights from your performance review.

Persons: Kelly Harry, Harry, Maddie Machado, It's, Peter Cappelli, Sho Dewan, there's, Machado, Dewan, Henry, " Machado, you've, Cappelli, doesn't Organizations: CNBC, Finance, Workers, Research Center, The Wharton School, University of Pennsylvania, Human Resources, Pew Research Center Locations: New York City, U.S

☆ Foot Locker's new price target and why we're psyched about DuPont's breakup plan
▼ + stars: | 2024-05-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

That would likely be enough to take on DuPont's water business if they wanted it. Foot Locker's new price target: Shares of Foot Locker are up Friday, a day after gaining 14% in response to a better-than-expected quarter against very low expectations. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. The Foot Locker logo is displayed in a store in San Francisco, California, on May 19, 2023.

Persons: Jim Cramer, it's, Bullish, Ed Breen, you'd, Breen, We've, Locker, Mary Dillon's, Jim Cramer's, Jim, Justin Sullivan Organizations: CNBC, Dell Technologies, Marvell Technology, DuPont, Nike, Jim Cramer's Charitable Locations: San Francisco , California

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.

Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City

☆ Vivek Ramaswamy is waging an expensive trolling campaign on BuzzFeed
▼ + stars: | 2024-05-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

In a letter to BuzzFeed’s board, a copy of which Ramaswamy posted online, the MAGA hardliner and former Republican presidential candidate recommended laying off large swaths of the company’s existing staff. He encouraged BuzzFeed’s board to transform the outlet into a creator-driven platform, suggesting it hire personalities akin to fellow radicals Candace Owens and Tucker Carlson. “Address your audience directly and candidly admit: We failed in our obligation to tell you the truth,” Ramaswamy encouraged BuzzFeed. But it was apparent that he does not view the right-wing entrepreneur’s ideas for the future of BuzzFeed as compelling. “I’m very skeptical it makes business sense to turn BuzzFeed into a creator platform for inflammatory political pundits.

Persons: Vivek Ramaswamy —, —, Ramaswamy, MAGA hardliner, BuzzFeed’s, Candace Owens, Tucker Carlson, BuzzFeed, Donald Trump, ” Ramaswamy, Jonah Peretti, MAGA, ” Jeffrey A Sonnenfeld, “, Vivek, Vivek Ramaswamy, Peretti, ” Peretti, ”, Sonnenfeld Organizations: New York CNN, Republican, “, Yale School of Management, Facebook, Huffington Locations: New York, Covid, BuzzFeed

☆ Why Walmart, Walgreens, CVS retail health clinic experiment is struggling
▼ + stars: | 2024-05-28 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

But the business experience in the retail health clinic space has largely disappointed. Walmart and the problem of volume vs. priceIn 2019, Walmart announced a bold initiative to open 4,000 in-store health clinics by 2029. "Primary health care is a low margin business," said Arielle Trzcinski, a principal analyst covering health care at research firm. "Compared to what they see in traditional retail, health care is a fundamentally different business," Trzcinski said, citing the challenges of navigating insurance companies and administrative burdens that health care brings. In-store health clinics can be profitable and viable, and retailers are experimenting with piecemeal approaches tailored to the local market.

Persons: Bobbi Radford, Radford, haven't, CVS's MinuteClinic, Karla Lemon, CVS's, I've, That's, Timothy Hoff, Hoff, didn't, Colleen Sanders, Sanders, Arielle Trzcinski, Forrester, Trzcinski, America Sanders, Virgil Brantz, Brantz Organizations: CVS, Walmart, Walgreens, Northeastern University, Insurance, Washington , D.C, Aetna, Retailers, Washington, Hartford HealthCare, Health Clinic, Arizona State University, Little Clinics, Kroger Locations: Batavia , Ohio, VillageMD, Southern California, New England, Conway , South Carolina, Washington ,, MinuteClinic, USA, America, Connecticut, Hartford, Phoenix, Atlanta, Little

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

☆ 2 Yale researchers are pulling back the curtain on Russia's sanctions-stricken economy — and it's landed them on a list of Putin's enemies
▼ + stars: | 2024-05-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewJeffrey Sonnenfeld and Steven Tian, two researchers at the Yale School of Management, have been targeted for their views on Russia's economy since the war in Ukraine began. Soaring prices and ailing consumer sentiment have hit key sectors in Russia's economy, and Moscow is paying a huge cost to keep its war machine running. Steven Tian Courtesy of Steven TianAt that time, Tian and Sonnenfeld began noticing cracks forming in Russia's economy. "Putin has no grand strategy other than to hope Trump wins and cuts a favorable deal with Russia," Tian said. Positive forecasts on Russia's economy are based on a lack of visibility, Sonnenfeld and Tian say.

Persons: —, Jeffrey Sonnenfeld, Steven Tian, they've, Vladimir Putin's, Tian, Putin, he'd, Sonnenfeld, I've, Biden, Steven Organizations: Service, Yale School of Management, Business, Yale, IMF, Trump Locations: Ukraine, Moscow, Russia

☆ Op-ed: How activist investors are deactivating with proxy battle losses
▼ + stars: | 2024-05-23 | by ( Jeffrey Sonnenfeld | Steven Tian | ) www.cnbc.com time to read: +7 min

Whether today's activist investors contribute any genuine economic value is open for debate. As this year's proxy season draws to a close, defeat after defeat for activist investors in proxy fights this year – most prominently at Disney and Norfolk Southern – raises the question: Are activist investors increasingly getting de-activated, losing their credibility and power? These self-styled "activist investors" are distinct from the original activists who helped catalyze needed governance reforms two decades back. Many of today's activist investors are a far cry from the original, heroic crusaders for shareholder value who pioneered the activism space decades ago. However, given the failing financial performance of many of today's activist investors, their losing streak in proxy fights and increasing public rejection of their bullying tactics, the credibility and value of activist investors writ large is increasingly imperiled.

Persons: Nelson Peltz's, Ed Garden, Ralph Whitworth, John Biggs of TIAA, John Bogle of, Ira Millstein, Weil, Nell Minow, Bob Monks, Harvard's Stephen Davis, Carl Icahn's, Aubrey McClendon, –, Bill Cohan, Jamie Dimon, Glass Lewis, resoundingly, Mason Morfit's ValueAct, Jeffrey Sonnenfeld, Lester, Steven Tian Organizations: CNBC, Salesforce, Dow Jones, Disney, Norfolk Southern, Relational Investors, John Bogle of Vanguard, Services, Chesapeake, Norfolk, JetBlue, Elanco, of Institutional Investors, United Shareholders Association, Responsibility Research, ISS, Lester Crown, Management, Yale University, Yale's, Institute Locations: Norfolk Southern, greenmailers, America

☆ Cristiano Ronaldo set to play in 11th international tournament after 39-year-old makes Portugal’s Euro 2024 squad
▼ + stars: | 2024-05-22 | by ( Ben Church | ) edition.cnn.com time to read: +3 min

CNN —Cristiano Ronaldo is set to play in his 11th international tournament for Portugal later this year, after the 39-year-old was named in his nation’s squad for Euro 2024. It seemed as though Ronaldo might have made his last appearance in a major international tournament at the 2022 World Cup in Qatar. Ronaldo made his first tournament appearance for Portugal at Euro 2004. Darren Walsh/Action Images/ReutersHowever, Ronaldo will not be the oldest player in the Portugal squad. “His communication, his positioning mean that, when he’s fit, he’s a very important player.”Portugal will play Turkey, Georgia and Czech Republic in Group F at Euro 2024.

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