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Goldman makes a big executive changeThe man who has been perhaps the most influential executive inside Goldman Sachs for more than a generation has begun to hand over some of his responsibilities. John Rogers, who over his quarter-century at the Wall Street bank has been known as a board and C.E.O. whisperer, will give his role as chief of staff to Russell Horwitz, his onetime deputy, Andrew and DealBook’s Lauren Hirsch are first to report. Rogers has an outsized influence and an intentionally understated public profile. He also wielded considerable influence outside the firm, helping Paulson become Treasury secretary in 2006.

Persons: Goldman, Goldman Sachs, John Rogers, Russell Horwitz, Andrew, DealBook’s Lauren Hirsch, Rogers, David Solomon, Reagan, George H.W, Bush, ” Rogers, Jon Corzine, Hank Paulson, Lloyd Blankfein, Solomon, Paulson Organizations: Goldman Locations: Washington

☆ Goldman Sachs says chief of staff John Rogers to step back from longtime role
▼ + stars: | 2023-08-08 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

John Rogers, who joined Goldman in 1994 and served as chief of staff to four of the bank's CEOs, is giving up that role next month, Solomon said in the employee memo. For decades, Rogers, 67, wielded outsized influence at Goldman, an institution sometimes called "Government Sachs" because former executives have gone on to presidential administration roles. While Rogers is ceding his chief of staff responsibilities to Russell Horwitz, a former deputy of his who was most recently global affairs chief of Citadel, he is retaining other roles. As incoming chief of staff, Horwitz, who spent 16 years at Goldman before departing in 2020, will oversee corporate communications and government and regulatory affairs. "Please join me in thanking John for his long and impactful tenure as chief of staff, as well as his continued commitment to Goldman Sachs in his other firmwide responsibilities, and in welcoming Russell back to Goldman Sachs," Solomon said.

Persons: John Rogers, Goldman Sachs, David Solomon, Goldman, Solomon, Rogers, Sachs, Hank Paulson, Russell Horwitz, Horwitz, John, Russell Organizations: Securities Industry, Financial, Washington , D.C, Goldman, The New York Times, Citadel Locations: Washington ,

☆ Lifted by Lea Michele, ‘Funny Girl’ Recoups on Broadway
▼ + stars: | 2023-08-07 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: +1 min

The Broadway revival of “Funny Girl” starring Lea Michele is now officially a hit: It has recouped its capitalization costs, completing a remarkable box office turnaround of the sort rarely seen in the commercial theater. The show’s lead producers, Sonia Friedman, Scott Landis and David Babani, announced on Monday that the production had made back the $16.5 million it cost to mount. That milestone not only gives the production bragging rights, but also means that “Funny Girl” can generate a profit during the last few weeks of its run, which ends on Sept. 3. Only a handful of Broadway productions have announced the recoupment of their capitalization costs since the onset of the coronavirus pandemic, as higher expenses and smaller audiences have made the always challenging economics of Broadway even more difficult. Critics were underwhelmed; the show won no Tony Awards (it was only nominated for one); and by summer its sales had drooped.

Persons: Lea Michele, Sonia Friedman, Scott Landis, David Babani, Barbra Streisand —, Beanie Feldstein, Critics Organizations: Wilson Theater

☆ Fitch US credit downgrade: Former Treasury secretaries react
▼ + stars: | 2023-08-06 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

CNN —The US economy is resilient, but policymakers need to take the long view on the country’s fiscal challenges, three former Treasury secretaries told CNN’s Fareed Zakaria on Sunday. “But it’s in some ways a very important wake-up call.”The downgrade came after a last-minute bipartisan deal in June that suspended the US debt ceiling until early 2025. I strongly disagree with Fitch’s decision, and I believe it is entirely unwarranted,” Treasury Secretary Janet Yellen said Wednesday. Meanwhile, the Biden administration is preparing new rules that could restrict investment in certain sectors in China, according to reports. When asked about US-imposed tariffs on China, Paulson said “we are working to close markets at the same time that China is doing business with more and more of the world.”“China is a major, major competitor,” he added.

Persons: CNN’s Fareed Zakaria, ” “, ”, Henry Paulson, George W, Bush, Janet Yellen, Paulson, “, ” Timothy Geithner, Geithner, ’, ” Robert Rubin, Bill Clinton, Zakaria, Biden, –, Jennifer Hansler, Gan, Juliana Liu Organizations: CNN, Fitch, AAA, Treasury Department, Capitol, Poor’s Locations: United States, China

☆ A Crisis in America’s Theaters Leaves Prestigious Stages Dark
▼ + stars: | 2023-07-23 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: +2 min

Fewer productions. Fewer performances. Cal Shakes, a Bay Area favorite that staged Shakespeare in an outdoor amphitheater, is producing no shows this year. The Williamstown Theater Festival, known for its star-studded summer shows, has no fully staged productions at its Western Massachusetts home this season. Philadelphia’s Arden Theater Company expects to give 363 performances next season, down from 503 performances the season before the pandemic.

Persons: Shakespeare, Chicago’s, Mary Zimmerman’s, ”, Philadelphia’s Organizations: Cal, Area, Broadway, Williamstown Theater, Geffen Playhouse, Philadelphia’s Arden Theater Locations: America, Western Massachusetts, New York City, Los Angeles

☆ A short seller with an over 90% win ratio shares the 9 indicators that make for a 'beautiful stock to short'
▼ + stars: | 2023-07-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

But as he continued researching online, he came across the idea of stock trading. He noted that when you sell a stock short, your gain is limited to the value of the stock. However, your loss is unlimited, depending on how high a stock's price could rally. Since the stock's price was below $2, he waited for a reversal for confirmation. The short interest rate could indicate how many traders are trying to short a stock.

Persons: David Capablanca, didn't, it's, Capablanca, Timothy Sykes, Sykes, he'd, TraderSync, David Olivares, Olivares, isn't, Norman Zadeh, Jim Chanos, John Paulson, Zadeh, CISO Organizations: University of Florida, University of California, Millionaire, Capablanca's, Interactive, United States, Capablanca, Super League, Gamestop, Twitter Locations: Los Angeles

☆ It’s Getting Hard to Stage a School Play Without Political Drama
▼ + stars: | 2023-07-04 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Stevie Ray Dallimore, an actor and teacher, had been running the theater program for a private boys’ school in Chattanooga for a decade, but he never faced a school year like this one. A proposed production of “She Kills Monsters” at a neighboring girls’ school that would have included his students was rejected for gay content, he said. A “Shakespeare in Love” at the girls’ school that would have featured his boys was rejected because of cross-dressing. His school’s production of “Three Sisters,” the Chekhov classic, was rejected because it deals with adultery and there were concerns that some boys might play women, as they had in the past, he said. School plays — long an important element of arts education and a formative experience for creative adolescents — have become the latest battleground at a moment when America’s political and cultural divisions have led to a spike in book bans, conflicts over how race and sexuality are taught in schools, and efforts by some politicians to restrict drag performances and transgender health care for children and teenagers.

Persons: Stevie Ray Dallimore, Love, ”, Chekhov, — Locations: Chattanooga

☆ Victoria Bailey Wants Audiences to Get Bigger, and Broader
▼ + stars: | 2023-06-28 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

When Victoria Bailey assumed the leadership of the nonprofit Theater Development Fund in 2001, she was told that the organization’s marquee program, the TKTS discount ticket booth, had not missed a day in nearly three decades of operation. So much for that. A few months after she took the job, the booth was shut down because of the 9/11 terrorist attacks, and in the time since it has been closed by a blackout, a hurricane, a strike and a pandemic. It’s been an eventful 22 years for Bailey, and on Friday, the day she turns 67, she is stepping down as the executive director of the organization, which sold 615,000 tickets at its TKTS booths this fiscal year and which works to make theater accessible — to those who find the cost of tickets prohibitive as well as to students, veterans and people with disabilities. Bailey, who received a Tony Honor for Excellence in Theater earlier this month in recognition of her service to the industry, will be succeeded on Aug. 7 by Deeksha Gaur, a co-founder of the theater reviews platform Show-Score.

Persons: Victoria Bailey, It’s, Bailey, Deeksha Gaur Organizations: Theater Development Fund

☆ Josh Gad and Andrew Rannells to Reunite in ‘Gutenberg! The Musical!’
▼ + stars: | 2023-06-22 | by ( Michael Paulson | ) www.nytimes.com time to read: +2 min

The musical, written by Scott Brown and Anthony King, began its life in the comedy world, at the Upright Citizens Brigade Theater, where King was the artistic director, and then was further developed at the New York Musical Festival. The director will be Alex Timbers, who also directed the 2006 Off Broadway production; Timbers later won a Tony Award for directing “Moulin Rouge!,” and he has also worked in comedy, including as the director of “Oh, Hello” on Broadway. “I love this show, and it gets seen and performed all over the world, but isn’t really known in New York,” Timbers said. “Broadway is rebounding, and it is due for an even bigger rebound,” Gad said. And more than anything, I think that people miss laughing.”

Persons: Scott Brown, Anthony King, King, Brown, “, ”, James Earl Jones, Alex Timbers, Gad, “ Gutenberg, ” Gad, Tony Awards Organizations: Upright Citizens Brigade, New, Broadway, James Earl Jones Theater, Timbers, ” Timbers, ” Locations: London, Australia, France, Korea, Spain, U.S, Moulin Rouge, New York

☆ ‘Kimberly Akimbo’ Wins Best Musical Tony and ‘Leopoldstadt’ Best Play
▼ + stars: | 2023-06-11 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

“Kimberly Akimbo,” a small-scale, big-hearted show about a teenage girl coping with a life-shortening genetic condition and a comically dysfunctional family, won the coveted Tony Award for best musical Sunday night. The award came at the close of an unusual Tony Awards ceremony that almost didn’t happen because of the ongoing screenwriters’ strike. Only an intervention by a group of playwrights who also work in film and television saved the show: they persuaded the Writers Guild of America that it would be a mistake to make the struggling theater industry collateral damage in a Hollywood-centered dispute, and in the end the telecast aired without pickets, without scripted banter and without a hitch. “I’m live and unscripted,” the ceremony’s returning host, Ariana DeBose said at the start of the show, after an opening number that began with her backstage, paging through a binder labeled “Script” filled with blank pages, and then dancing wordlessly through the theater and onto the stage. She then pointed out the absence of teleprompters, offered her support for the strikers’ cause, and declared, “To anyone who thought last year was a bit unhinged, to them I say, ‘Darlings, buckle up!’”

Persons: “ Kimberly Akimbo, Tony, ’, Ariana DeBose, “, ‘ Organizations: Writers Guild of America Locations: Hollywood

☆ In Historic Night for Nonbinary Performers, J. Harrison Ghee and Alex Newell Win Tony Awards
▼ + stars: | 2023-06-11 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

J. Harrison Ghee, whose portrayal of a gender-questioning musician fleeing the mob in “Some Like It Hot” has charmed critics and audiences, won a Tony Award for best leading actor in a musical Sunday night, becoming the first out nonbinary actor to win that award. Ghee’s victory came shortly after Alex Newell, who is also nonbinary, won a Tony Award for best featured actor in a musical, becoming the first out nonbinary performer to win a Tony. The wins come at a time when gender identity has become a central element of America’s culture wars, as conservatives in multiple states press for legislation on a variety of L.G.B.T.Q.-related issues, including gender-affirming medical care for transgender children and teenagers, bathroom access, sports participation and, in some states, performances. The Tony Awards, like the Oscars, have only gendered categories for performers, and Ghee and Newell agreed to be considered eligible for awards as actors. (Another nonbinary performer this season, Justin David Sullivan of “& Juliet,” opted not to be considered for awards rather than compete in a gendered category.)

Persons: Harrison, Ghee’s, Alex Newell, Tony, Newell, Justin David Sullivan, “, ”

☆ Why the 34-year-old CEO of P.F. Chang's likes to wake up at 4:30 a.m. daily to work out
▼ + stars: | 2023-06-11 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +3 min

He says early morning runs help him stay mentally sharp and give him a "conquest" to start the day. Chang's says early morning runs help him stay sharp at work and build mental discipline. "I like the routine precisely because it's hard," Adamolekun told MarketWatch. After his runs, Adamolekun gets some work done in his home office, as he's previously told Insider. Adamolekun told MarketWatch his youth may help him connect with younger consumers.

Persons: —, Chang's, Damola Adamolekun, Fortune, Adamolekun, he's, Paulson, it's Organizations: Service, Co, TriArtisan Capital Advisors Locations: Chang's, Scottsdale , Arizona

☆ How to Watch the Tony Awards
▼ + stars: | 2023-06-10 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Lea Michele is going to lead a number from the revival of “Funny Girl” that opened a year ago. And Joaquina Kalukango, one of last year’s Tony winners, will sing a song to accompany the In Memoriam segment. Broadway is still struggling to recover from the lengthy coronavirus shutdown — attendance remains 17 percent below prepandemic levels — and producers view the Tony Awards as an important way to introduce a large audience to the newest shows. Also, the Tonys are a way to lift up theater as an art form, often boosting the careers of the artists involved. Wins and nominations help plays get staged at regional theaters and taught in colleges, and telecast performances help musicals sell tickets and tour.

Persons: Ariana DeBose, Steven Spielberg’s “, Donna Summer, Julianne Hough, Skylar Astin, “, ” “ Kimberly Akimbo, ”, “ Sweeney Todd, Lea Michele, Neil Diamond, Tony Locations: ” “ New York , New York

☆ Tony Predictions: Expect Wins for ‘Kimberly Akimbo’ and ‘Leopoldstadt’
▼ + stars: | 2023-06-09 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

What do you get when you toss together a brassy grifter, an Elvish-speaking anagrammist, a show choir and, oh yes, a teenager with a life-threatening genetic condition? This year, it seems, you get a Tony-winning musical. “Kimberly Akimbo,” a small show with a huge heart, is likely to win the most coveted prize at the 76th Tony Awards ceremony on Sunday, according to my annual survey of Tony voters. Over the last week, I have connected, by email or telephone, with 158 voters who generously agreed to discuss their picks (and, often, their concerns about, and hopes for, the theater business); they are distributing their votes widely among the nominees after a season with few consensus favorites. There are a total of 769 Tony voters, and they are mostly industry insiders — producers, investors, actors, writers, directors, designers, and many others with theater-connected lives and livelihoods.

Persons: Tony, “ Kimberly Akimbo

Fires are burning across the breadth of Canada, blanketing parts of the eastern United States with choking, orange-gray smoke. So much wildfire smoke pushed through the border that in Buffalo, schools canceled outdoor activities. The average global temperatures today are more than 1.1 degrees Celsius (2 degrees Fahrenheit) higher than in the preindustrial era. The trees and grasses of eastern Canada turned to tinder. “We should expect a stunning year of global extremes,” he wrote.

Persons: It’s, El Niño, Justin Trudeau, ”, Alexandra Paige Fischer, Park Williams, Wiliams, Brendan Rogers, haven’t, La, Jeff Berardelli, El, Ada Monzón Organizations: Northern, University of Michigan, Stanford, University of California, Climate Research, El, Twitter Locations: Canada, United States, Puerto Rico, North America, El, Buffalo, Detroit, Los Angeles, Alberta, Vietnam, China, Siberia, WFLA, Tampa Bay, Fla, WAPA

☆ Real-estate tycoon Jeff Greene made $800 million shorting the last housing bubble. He explains how John Paulson inspired the contrarian bet, and how he's protecting his wealth today.
▼ + stars: | 2023-06-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jeff Greene told the story of his lucrative wager against the mid-2000s housing bubble to Insider. John Paulson told Greene about his iconic trade, which "Big Short" investor Michael Burry also made. Jeff Greene, one of the few investors to successfully short the mid-2000s housing bubble, expects the US economy to slump and home prices to drop. Warren Buffett, during Congressional testimony in 2010, underscored how contrarian it was to bet against the housing market at that time. "The Cassandras were there, but who's going to listen to John Paulson in 2005 or 2006, or Michael Burry?"

Persons: Jeff Greene, John Paulson, Greene, Michael Burry, Paulson, Paulson's, Warren Buffett, Berkshire Hathaway Organizations: Federal, Forbes, Berkshire Locations: West Palm Beach , Florida

“A thousand people, in a room, quiet, sometimes the quietest room I’ve ever been in, and we have a real experience with each other, audience and performers. It’s magic. There’s nothing like it.” — Arian Moayed“My grandmother took me, when I was 7, to go see a production of ‘Joseph and the Amazing Technicolor Dreamcoat’ in Sacramento. I was a little bit of a troubled kid, so she was trying to find an outlet for me. And then the play started, and there was a little girl onstage narrating, and it was just this aha moment of like, ‘Oh, this is what I am.’” — Jessica Chastain

Persons: ”, “, ‘ Joseph, Jessica Chastain Locations: Sacramento

☆ Alicia Keys Is Making a Musical. Her Own Life Inspired the Story.
▼ + stars: | 2023-06-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

For more than a decade, Alicia Keys has been quietly developing a musical inspired by her own turbulent adolescence growing up among artists in New York City. Now that musical, “Hell’s Kitchen,” is almost ready for viewing: It will be staged this fall at the Public Theater, the downtown nonprofit where “A Chorus Line” and “Hamilton” were born. The show will feature some of Keys’s best known songs, as well as new material she has written for the musical. “This is a major, major turning point in my journey.”“Hell’s Kitchen” doesn’t precisely track the events of Keys’s own life, but there are strong parallels. (Ali, like Keys, is transformed by a passion for piano.)

Persons: Alicia Keys, “ Hamilton ”, Keys, ”, Ali Organizations: Public Theater Locations: New York City, Manhattan Plaza

☆ ‘Prayer for the French Republic’ Transferring to Broadway
▼ + stars: | 2023-06-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Joshua Harmon’s “Prayer for the French Republic,” a play about a family grappling with contemporary and historical antisemitism in France, will transfer to Broadway this winter. The play will be produced by the nonprofit Manhattan Theater Club, which last year presented the play's first run Off Broadway. The production comes as concerns about antisemitism have been on the rise in the United States and beyond. “Prayer for the French Republic” will be Harmon’s second play on Broadway; his poignant singleness comedy, “Significant Other,” had a run in 2017 at the Booth Theater. But Harmon is probably best known for another comedy, “Bad Jews,” which was widely staged around the country.

Persons: Joshua Harmon’s, ”, David Cromer, Samuel J, Georgia —, Tony, Republic ”, Harmon Organizations: Broadway, Manhattan Theater Club, Friedman, Booth Locations: French Republic, France, United States, Georgia, Republic

☆ Tyne Daly and Liev Schreiber to Lead Broadway ‘Doubt’ Revival
▼ + stars: | 2023-06-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Tyne Daly and Liev Schreiber will star in a revival of “Doubt: A Parable” on Broadway this season. The play, by John Patrick Shanley, is about a nun who suspects a priest has sexually abused a student at a Catholic school. (All Broadway theaters are planning to dim the lights of their marquees for one minute at 6:45 p.m. tonight in Haimes’s memory.) Daly, who will play the nun who serves as the school principal, and Schreiber, who will play the parish priest, are both Tony winners. “Doubt” will be one of three plays staged by Roundabout on Broadway this season.

Persons: Tyne Daly, Liev Schreiber, John Patrick Shanley, Scott Ellis, Todd Haimes, Daly, Schreiber, Tony, “ Cagney, Lacey, ”, ” Schreiber, “ Ray Donovan, Glengarry Glen, Theresa Rebeck, Danny DeVito, Lucy, Kenny Leon, Williams Organizations: Broadway, Roundabout Theater Company, American Airlines Theater Locations: Glengarry Glen Ross

☆ Broadway Musicians Object to David Byrne’s ‘Here Lies Love’
▼ + stars: | 2023-05-30 | by ( Michael Paulson | ) www.nytimes.com time to read: +2 min

But Local 802 of the American Federation of Musicians says its contract with the Broadway League requires the use of 19 musicians for musicals at the Broadway Theater. (The number of musicians required under the contract varies based on theater size.) The union says it is seeking to preserve jobs for musicians and quality for theater lovers. “We’re not going to stand by and let this happen,” said Tino Gagliardi, the local’s president and executive director. The request is to be assessed by a panel that includes neutral observers as well as representatives of the Broadway League and the musicians’ union; it is not clear how long that process will take, and the ruling can be appealed to arbitration.

☆ The Venice Architecture Biennale puts Africa center stage
▼ + stars: | 2023-05-30 | by ( Marianna Cerini | ) edition.cnn.com time to read: +11 min

Venice, Italy CNN —Until recently, the Venice Architecture Biennale — arguably the world’s largest architecture exhibition — has drawn crowds for its (mainly Western) star appeal. In a May 20 Facebook post titled “Venice Biennale Blues,” Zaha Hadid Architects’ principal, Patrik Schumacher, wrote that “the ‘Architecture’ Biennale is mislabeled and should stop laying claim to the title of architecture. The German pavilion, which is displaying construction waste produced by 2022’s Venice Art Biennale is a case in point. The German Pavilion at the 18th Architecture Biennale is displaying and repurposing constuction waste from the city's Art Biennale last year. The British Pavilion curators Meneesha Kellay, Joseph Henry, Jayden Ali and Sumitra Upham, with commissioner Sevra Davis, photographed in London.

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

Under his leadership, Morgan Stanley became a wealth management powerhouse that aims to manage $10 trillion in assets. Morgan Stanley bought money manager Eaton Vance, online broker E*Trade, and stock-plan manager Solium Capital under Gorman's leadership. He was also the key architect behind Morgan Stanley's purchase of Smith Barney, a brokerage and investment adviser, in 2009. The acquisitions have made Morgan Stanley's U.S. wealth business an "asset gathering monster," and a "killer machine," he said on an earnings conference call last month. "This structure will ensure the continued stability of Morgan Stanley, while at the same time positioning it for a decade of exciting growth under new leadership."

☆ I made $200,000 in revenue from affiliate marketing websites. Here's how I got started after years of struggling with my SEO business.
▼ + stars: | 2023-05-17 | by ( Robin Madell | ) www.businessinsider.com time to read: +8 min

Bruce Paulson is a freelance SEO specialist who creates affiliate marketing websites. Paulson said his business started to grow once he put himself in the customer's shoes. In 2022, I made almost $203,000 in revenue from affiliate marketing alone. Affiliate marketing is the strategy that helped to move the needle for my income. When building affiliate websites I need some interest in the topic like water sports, finance, or digital marketing.

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