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☆ Office Workers Hate the Commute, Not the Office - The New York Times
▼ + stars: | 2023-05-19 | by ( Farhad Manjoo | ) www.nytimes.com time to read: +1 min

Elon Musk says we should all get off our duffs and go back to the office. Factory workers, service workers and construction workers can’t work from home, so why do people in the “laptop classes” think they should be able to do so? Musk isn’t alone among corporate executives in seeing employees’ reluctance to return to the office as a genuine economic problem. Companies have tried carrots — redesigning offices — and they’ve tried sticks, like reversing remote work policies at the same time they announce huge layoffs. Remote work looks like it’s turning from a pandemic necessity into a permanent feature of the American workplace.

☆ ‘Lazy Luxury’ Sneakers: Are These the Most-Worn Shoes on Private Jets?
▼ + stars: | 2023-05-15 | by ( Jamie Waters | ) www.wsj.com time to read: 1 min

TYING SHOELACES is a ho-hum task, but in 2023, many moneyed men have expunged that 20 seconds of tedium from their mornings. Postpandemic, C-suite sorts are padding about in slip-on shoes sophisticated enough for the boardroom yet as comfy as cashmere pajamas, according to personal stylists who cater to the one percent. Laceless footwear is “very, very popular at the moment” due to its convenience, said Milda Chellingsworth, a London stylist who counsels corporate heavyweights aged 40 to 70 from around the world. Cassandra Sethi, a Los Angeles stylist, is also fielding more requests for slip-ons from CEO types who’d rather not have to do any knotting. “Non-lace footwear is really valuable for them,” she said.

☆ Wheels Up founder abruptly steps down as losses mount, potential bankruptcy looms
▼ + stars: | 2023-05-09 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Private jet company Wheels Up announced Tuesday that its founder and CEO, Kenny Dichter, is stepping down from his post immediately as the company faces mounting losses and the potential for bankruptcy. Board member Ravi Thakran will become executive chairman, while Chief Financial Officer Todd Smith will serve as interim CEO, the company said in a statement. Dichter's departure caps a dramatic fall for one of the private jet industry's most high-profile startups. Wheels Up once promised to become the Uber or Airbnb of private jets. Dichter, who founded Marquis Jets in 2001 and later sold it to NetJets, launched Wheels Up in 2013 aiming to "democratize" private jets and make them more affordable and easier to book.

☆ The Senate Judiciary Committee just asked GOP megadonor Harlan Crow for a list of any gifts he's given to a Supreme Court justice
▼ + stars: | 2023-05-09 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

Democrats on the Senate Judiciary Committee sent a letter to Harlan Crow on Monday. The letter asks Crow to list any gifts he's given to a Supreme Court justice or their family worth more than $415. The letter follows reporting from ProPublica documenting the many vacations Crow's paid for with Justice Clarence Thomas. The Judiciary Committee sent its letter to Crow a week after it held a hearing on ethics reform for the Supreme Court, which Chief Justice John Roberts declined to attend. "They've done a pretty good job in the last week or two of unfairly slamming me and more importantly than that, unfairly slamming Justice Thomas."

☆ A millionaire who says flying private is as addictive as cocaine is selling his jet after learning how terrible it is for the environment
▼ + stars: | 2023-05-08 | by ( Hannah Towey | ) www.businessinsider.com time to read: +6 min

Georgia businessman Stephen Prince loves flying his private jet to Nebraska and the Caribbean. But after realizing the environmental impact of flying private, he decided to sell his Cessna 650. The experience is so amazing, he said, that he often compares the addictive nature of private jet travel to that of cocaine. The multi-millionaire's private jet habit first started around six years ago, when he began chartering planes and soon bought a Mitsubishi MU-2 with a friend. The organization co-authored a report outlining the environmental and financial consequences of private jet travel.

☆ Billionaires and CEOs descended on Beverly Hills to talk recession, bank failures, and more. Here's the inside track.
▼ + stars: | 2023-05-07 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: The big takeaways from the Milken Institute Global Conference in Beverly Hills. Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference Mike Blake/ReutersThe big-money set jetted into LA last week for the Milken Global Conference. Biggest opportunityCampbell: The pullback in lending by banks is raising the hopes of those in the private credit industry. Read more:'Junk fees'Getty ImagesIt goes by many names: an administrative fee, a transaction fee, even a "regulatory compliance" fee. Akash Nigam, the founder and CEO of Genies, who is spending $2,400 a month on ChatGPT accounts for all his employees.

☆ The ultra-wealthy who fly private are costing average flyers who won't ever use a private plane a lot of money
▼ + stars: | 2023-05-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Private jet travel has surged in the US over the last few years and accounts for one in every six flights. But private flyers pay just two percent of the taxes that fund the Federal Aviation Administration. Commercial flyers must pay a tax on every ticket equivalent to 7.5% of the fare price. But private flyers only pay a jet fuel tax. Private airplane travel is significantly worse for the environment than commercial flight travel, since private jets carry far fewer people.

☆ Meet the typical private jet owner: 'Overwhelmingly male,' over 50, with a net worth of $190 million
▼ + stars: | 2023-05-01 | by ( Hannah Towey | ) www.businessinsider.com time to read: +2 min

Private jet use has become more popular than ever. Members of the "jet-owning oligarchy" have a median net worth of $190 million, a new report says. The typical private jet owner is a North American male over 50 who works in finance or real estate. The report describes typical private jet owners as "overwhelmingly male," North American, and over the age of 50. Full private jet owners have a median net worth of $190 million while fractional jet owners have a median net worth of $140 million, the report says, citing data from Credit Suisse and Wealth-X.

☆ Big Tech is pursuing 'the year of efficiency.' It could get supercharged by AI.
▼ + stars: | 2023-04-30 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: Why Big tech's new focus on efficiency could have far-reaching impacts. Tech jobs aren't coming backTech giants have been slashing jobs. Companies from Meta to Salesforce have cut jobs in the recent months in the pursuit of efficiency and profit margins. Also read:Whistleblower docs: Jane RobertsSupreme Court Justice Chief Justice John Roberts and his wife Jane Roberts arrive for a 2018 State Dinner at the White House. At least one of those firms argued a case before the chief justice after paying his wife hundreds of thousands of dollars.

☆ The attorney featured in the painting that shows Clarence Thomas at one of the undisclosed vacations just published an article arguing that the Supreme Court justice did not have to report the trips
▼ + stars: | 2023-04-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Earlier this month, ProPublica reported on Justice Clarence Thomas's undisclosed luxury trips. Mark Paoletta, a partner at Schaeer Jaffe and close friend of Thomas, wrote in the right-leaning National Review article published Thursday arguing that Thomas had "acted properly and consistent with the rules" of financial disclosures for Supreme Court Justices. But the attorney is also featured in a painting that was commissioned by Crow and depicts Thomas vacationing at the luxury resort that is central to the renewed scrutiny of Thomas' financial disclosure forms. Sharif Tarabay, the artist of the painting, told ProPublica that the piece depicts a moment at Topridge from about five years ago. But that is immaterial to the conclusion that Justice Thomas had no obligation to disclose these innocuous trips," Paoletta wrote.

☆ Recasting the upcoming GameStop movie: Here's who should play Ken Griffin, Steve Cohen, and the rest of the gang
▼ + stars: | 2023-04-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Wall Street is getting the Hollywood treatment again. - Paul Giamatti as AMC's Adam Aron (This guy knows his way around Wall Street.) For more on the upcoming GameStop movie, including who is set to play the "pot-smoking retail trader," click here. Here's why the rest of Wall Street might be motivated to help First Republic. Meet the new generation of the ultra-rich on Wall Street.

☆ See inside one of JSX's semi-private jets which offer a first-class like seat for all passengers
▼ + stars: | 2023-04-26 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

However, the popular corridor between New York and Miami will cost between $599 and $929 one-way this summer, according to JSX's website. A view out of the window of a JSX plane. Taylor Rains/InsiderSource: JSX

☆ Goldman shareholder criticizes CEO Solomon's leadership at annual meeting
▼ + stars: | 2023-04-26 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +1 min

DALLAS, April 26 (Reuters) - A Goldman Sachs Group Inc (GS.N) shareholder criticized its Chairman and CEO David Solomon on Wednesday at the bank's annual meeting and proposed its board appoint an independent chairman. The proposal, along with eight others put forward by shareholders, failed after receiving the support of 16% of stock holders who voted. All of Goldman's management proposals, including the appointment of its directors and executive compensation, were approved at its annual shareholder meeting, which was held in person in Dallas. "The Goldman Sachs processes look anything but robust -- to many of us outside observers and shareholders, they look pretty weak," Paul Chesser, a director at the National Legal and Policy Center, said at the bank's annual meeting. Shareholder calls for reports on lobbying, climate transition and pay equity got the support of 30% or more voters, according to preliminary tallies.

☆ Where is Goldman Sachs' David Solomon going on those private jets?
▼ + stars: | 2023-04-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Dakin Campbell compiled flight data on Goldman Sachs' two private planes from the beginning of 2022 through March of this year. Much of the focus on Goldman's jets, as Insider has previously reported, has been Solomon's personal use of them. If Goldman and Solomon are playing by the rules, why does it matter? And while I've written before about corporate jets being the scapegoat for excessive spending, that was moreso regarding business travel. Click here for all the details on where Goldman's two private planes have flown since 2022.

☆ Where Goldman Sachs CEO David Solomon takes the corporate jet
▼ + stars: | 2023-04-24 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

"The Board fully supports the use of the Goldman Sachs planes for travel, just as it supported the use of private aircraft by previous Goldman Sachs executives," said Tony Fratto, a company spokesman. "Executives at Goldman Sachs have been flying on private aircrafts for decades as it is proven to be the most secure, effective, and cost-efficient solution to meet the extensive travel obligations for CEOs of firms like Goldman Sachs — which is why all of our peer institutions also extensively use private aircraft." John Waldron, president of Goldman Sachs Reuters/Brendan McDermidOccasionally, Solomon and Waldron switch planes, particularly when Waldron flies overseas. Goldman Sachs has a sponsorship deal with pro golfer Patrick Cantlay. "These estimates wildly overstate the cost of such flights to Goldman Sachs and are not an accurate representation," he said.

☆ The student who tracks Elon Musk's private jet said his Facebook page was taken down for 'impersonation'
▼ + stars: | 2023-04-21 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

The student who tracks Elon Musk's private jet said his Facebook page was taken down on Wednesday. The college student who tracks Elon Musk's private jet said his Facebook page was taken down Wednesday for "impersonation." In a text message exchange with Insider, Sweeney said he didn't know why the social media company had unpublished his page. The University of Central Florida student shared a screenshot of the notice he was sent, notifying him that his page had been "unpublished" because "Elon Musk's jet goes against our Community Standards on impersonation." Jack Sweeney's Facebook page about Elon Musk's jet was taken down for "impersonation."

☆ The 9 US cities with the most billionaires, from famous glitzy locales to newer hot spots for ultrarich residents
▼ + stars: | 2023-04-20 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

The US is home to 770 billionaires, according to London-based consulting firm Henley & Partners. Here, the 9 US cities with the most billionaires, from the San Francisco Bay Area to Austin, Texas. Some of America's richest residents, though, choose quieter cities for their home bases. And one of America's fastest-growing cities — Austin, Texas — has emerged as a relatively new billionaire hot spot, counting nine as residents. Check out the full list of the US cities where the most billionaires live.

WASHINGTON, April 19 (Reuters) - A former Venezuelan treasurer, who also served as an aide to late President Hugo Chavez and was convicted in the U.S. of money laundering, was sentenced to 15 years in prison, the U.S. Justice Department said on Wednesday. A Florida jury in December convicted Diaz, as well as her husband Adrian Velasquez, on two counts of money laundering and one count of conspiracy to commit money laundering in association with a corruption scheme in Venezuela. U.S. District Court Judge William Dimitroulea in Florida sentenced Diaz and her husband, who also received 15 years, on Wednesday, the Justice Department said. Diaz, Velasquez and Gorrin purchased and paid expenses related to private jets, yachts, mansions, champion horses and a designer fashion line in South Florida, prosecutors said. (This story has been refiled to remove an extraneous word in paragraph 4)Reporting by Kanishka Singh in Washington; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ A former Air Force pilot who now flies private jets shares what her job is like — it's not as glamorous as people may think
▼ + stars: | 2023-04-16 | by ( Jordi Lippe-Mcgraw | ) www.businessinsider.com time to read: +6 min

Laura Schmutzer was in the Air Force and worked as a commercial pilot before moving to private jets. But as a private-jet pilot, Laura Schmutzer can attest there's more to it than people might expect. Commercial pilots must live close to or commute to major aviation hubs. Schmutzer said that between her private flights she can sneak in adventures like snorkeling. Laura SchmutzerLast-minute adventures between flights are possibleWhile being a private-jet pilot isn't always glamorous, there's sometimes time for spontaneous adventures.

☆ The college student who tracks Elon Musk's private jet says the Twitter CEO 'seems really bothered' by his account
▼ + stars: | 2023-04-14 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

The college student who tracks Elon Musk's jet said he "seems really bothered" by his account. The college student who runs a Twitter account tracking Elon Musk's private jet said the Tesla CEO "seems really bothered" by the account following comments the billionaire made in his BBC News interview this week. According to the Cambridge Dictionary, doxxing is finding or publishing private information about someone online. Sweeney's account used bots to scrape and post publicly available flight data that people would otherwise be able to find via ADS-B Exchange. When Clayton said that Sweeney was using publicly available information, Musk said: "No, actually it's not true.

☆ The 'Robinhood of passports' says it's a mistake to ban golden visas — make them fund affordable housing and refugee programs instead
▼ + stars: | 2023-04-12 | by ( Hannah Towey | ) www.businessinsider.com time to read: +8 min

Portugal and Ireland recently announced they are shutting down their "golden visa" programs. Their less-advantageous siblings, "golden visas," provide temporary residence permits in exchange for investment, as opposed to permanent citizenship. A golden taxInstead of banning golden passports and visas outright, countries should adjust the investment requirements to match their current needs, Arton says. A scandalous historyBut golden passports don't only raise the issue of inequality, the European Commission argues, they also pose a threat to national security. Last year, 282 of Ireland's 306 golden visa applications came from Chinese citizens, The Irish Times reported.

☆ This leaked Fyre Festival pitch deck shows how Billy McFarland was able to secure millions for the most overhyped festival in history
▼ + stars: | 2023-04-11 | by ( Mark Abadi | ) www.businessinsider.com time to read: +2 min

A leaked sales deck for 2017's Fyre Festival contains the pitch CEO Billy McFarland gave investors ahead of the failed event. The sales deck contains misleading information about Fyre Festival and has been described as "beyond parody." Fyre Festival was advertised an upscale music festival in the Bahamas, complete with luxury beach villas, gourmet food, private jets, and supermodels and influencers galore. The pitch deck was first reported on in 2017 by Vanity Fair's Nick Bilton — who uploaded the full deck online — and recirculated on LinkedIn. Read on to see some of the most shocking, outlandish, and surreal slides from the Fyre Festival pitch deck.

☆ A former Nike runner says the company stopped paying her while she was pregnant and portrayed her as 'Miss America in a crop top'
▼ + stars: | 2023-04-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

Nike "takes great pride as a leader in supporting female athletes," the company said. Goucher's book also describes a persistently sexist culture at the Nike Oregon Project and says that Alberto Salazar, a celebrated distance runner and former Nike coach, sexually assaulted her. "My story helped sell shoes, shorts, T-shirts, and bras," Goucher wrote of her time as a Nike-backed runner. "In 2018 we standardized our approach across all sports to support all of our female athletes during pregnancy," Nike said in the statement. We know that Nike can continue to play an elevated role in supporting female athletes and improving their experience in sports."

☆ Clarence Thomas slammed from across political spectrum, as former House GOP member says he 'should not be allowed anywhere near a judicial decision'
▼ + stars: | 2023-04-06 | by ( Grace Eliza Goodwin | Warren Rojas | ) www.businessinsider.com time to read: +3 min

Former GOP House members are slamming Justice Clarence Thomas over his cozy relationship with a billionaire. One of Thomas' fellow conservatives says he "should not be allowed anywhere near a judicial decision." Because Justice Thomas knew it was wrong to accept these secret gifts." Former GOP Virginia House member Denver Riggleman reacted to ProPublica's report on Twitter, saying "Our country is poisoned from within. Another former Republican House member Adam Kinzinger tweeted "Regardless of your politics, this cannot be acceptable."

☆ Amsterdam's Schiphol Airport to cut late-night flights -Het Parool
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Climate activists protest against environmental pollution from aviation at Amsterdam's Schiphol Airport, in Schiphol, Netherlands November 5, 2022. REUTERS/Piroschka van de WouwAMSTERDAM, April 3 (Reuters) - Amsterdam's Schiphol Airport plans to cut late-night flights as part of attempts to reduce noise pollution, newspaper Het Parool reported on Monday, citing the airport's CEO. Plans for the airport to be rolled out in the coming two years include closing it almost completely between midnight and 5 a.m., the report citing CEO Ruud Sondag said. A spokesperson for Schiphol could not immediately be reached to confirm the report, which said the airport is also planning to ban noisier airplanes and private jets. But airlines including Air France's (AIRF.PA) Dutch subsidiary KLM have mounted a legal challenge to the plan, while Schiphol itself is pushing for a 460,000 limit.

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