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☆ Exclusive-BDT & MSD Partners Explores $5 Billion Sale of Alliance Laundry-Sources
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

By Anirban Sen(Reuters) - Merchant bank BDT & MSD Partners, the owner of Alliance Laundry Systems, is exploring a sale of the U.S. laundry equipment manufacturer that could value it at nearly $5 billion, including debt, according to people familiar with the matter. BDT & MSD Partners, Alliance Laundry, and Morgan Stanley declined to comment. It supplies laundry systems to U.S. military facilities, laundromat chains, hotels, long-term healthcare facilities and clinics, restaurants, fire stations, residential apartments, and other businesses across sectors. In 2015, Ontario Teachers’ Pension Plan sold its majority stake in Ripon, Wisconsin-based Alliance Laundry to BDT Capital Partners, prior to its merger with MSD Partners. BDT & MSD Partners is run by former Goldman Sachs alumni Trott and Gregg Lemkau.

Persons: Anirban Sen, Morgan Stanley, Michael, Byron, Primus, Goldman Sachs, Trott, Gregg Lemkau, Silver, Armour, Shari Redstone, Chizu Nomiyama Organizations: Reuters, Merchant, MSD Partners, Alliance Laundry Systems, Alliance, Laundry, BDT Capital Partners Locations: Ontario, Ripon , Wisconsin, New York

☆ It looks like Elon Musk is a bit envious of Mark Zuckerberg's control over Meta
▼ + stars: | 2024-01-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

Musk appeared to give Tesla's board an ultimatum on Monday, saying he wants 25% voting control at Tesla or he'll stop growing AI development at the electric-car maker. One way of getting that would be via a dual-class stock structure. This isn't uncommon and could mean Musk wouldn't necessarily get more shares but that the ones he held would deliver more voting power. The company's dual-class stock structure provides Zuckerberg and select executive managers and directors with them. "Zuckerberg probably wouldn't have gone public without a dual-class structure," White said.

Persons: —, Elon Musk, Mark Zuckerberg, Musk, he's, Tesla, Zuckerberg, It's, Chester Spatt, Joshua Tyler White, doesn't, White, Ofer Eldar, Michael Dell, Anat Alon, Beck, Erik Gordon, Sam Altman's, Gordon Organizations: Service, Meta, Tesla, Business, Carnegie Mellon University, SEC, Vanderbilt, SpaceX, The Boring Company, UC Berkeley, Western Reserve University, University of Michigan's Ross School of Business Locations: Delaware, OpenAI

Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.

Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, “, ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison

☆ 'Boomerang' CEOs of major companies
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Sam Altman reached an agreement with OpenAI to return as CEO on Wednesday, after a tumultuous few days following his ouster by the company's board. He joins a list of big name "boomerang" chief executives who have made comebacks at a later date. DELL (DELL.N) - MICHAEL DELLMichael Dell founded Dell Inc in 1980s and held the position of CEO until 2004, when he stepped down to serve as chairman. He returned as CEO in 2007 and led the company through the merger with EMC, which resulted in the emergence of Dell Technologies. He returned as CEO in 2023 amid challenges related to UBS's takeover of peer Credit Suisse.

Persons: Sam Altman, OpenAI, Steve Jobs, John Sculley, DELL, MICHAEL DELL Michael Dell, ROBERT IGER Robert Iger, HOWARD SCHULTZ Howard Schultz, JACK DORSEY Jack Dorsey, Evan Williams, Dorsey, SERGIO ERMOTTI Sergio Ermotti, Ralph Hamers, Boleslaw Lasocki, Victor Goury, Milla Nissi, Jane Merriman Organizations: Apple, Dell Inc, EMC, Dell Technologies . DISNEY, NBA, TWITTER, Twitter, UBS, Suisse, Thomson Locations: U.S, Swiss, Laffont, Gdansk

☆ A career trend to bet on
▼ + stars: | 2023-11-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at why the creator economy is big business and potentially the future of the entertainment industry. The big storyInfluential influencersPete Ryan for Business InsiderLike it or not, the "creator economy" is here to stay. Goldman Sachs analysts estimated the creator economy was a $250 billion industry and could nearly double to $480 billion by 2027. The story is part of Business Insider's "5 Trends to Bet Your Career On" series. Business Insider's Lucia Moses and Alison Brower have a full breakdown of the recent cuts.

Persons: —, who've, Pete Ryan, Goldman Sachs, Amanda Perelli, Amanda, Alix Earle, Arantza Pena Popo, Business Insider's Lucia Moses, Alison Brower, that's, Michael Dell, Carl Icahn, Dell, BRENDAN SMIALOWSKI Biden, Xi, Dolly Parton, RuPaul, Rachel McAdams, Danny DeVito, Martin Scorsese, VCs, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, TikTok, YouTube, Diego Donamaria, CNBC, Tech, Icahn Enterprises, Whirlpool, Walmart, Target, Today Locations: Diego, New York City, San Diego, London, New York

☆ Michael Dell: A.I. is about how we augment human capability & make all of humanity more successful
▼ + stars: | 2023-10-06 | 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 EmailMichael Dell: A.I. is about how we augment human capability & make all of humanity more successfulMichael Dell, Dell Technologies chairman and CEO, joins 'Squawk Box' to discuss the state of the company, after the computing giant announced an expansion of its stock buyback plan and a boost to its profit outlook, the impact of A.I. on business across the spectrum, growth outlook, and more.

Persons: Michael Dell Organizations: Dell Technologies

☆ Watch CNBC's full interview with Dell CEO Michael Dell
▼ + stars: | 2023-10-06 | 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 EmailWatch CNBC's full interview with Dell CEO Michael DellMichael Dell, Dell Technologies chairman and CEO, joins 'Squawk Box' to discuss the state of the company, after the computing giant announced an expansion of its stock buyback plan and a boost to its profit outlook, the impact of A.I. on business across the spectrum, growth outlook, and more.

Persons: Michael Dell Michael Dell Organizations: Dell, Dell Technologies

☆ Elon Musk, Mark Zuckerberg, and Jeff Bezos have topped a list of mega-billionaires enjoying an eye-watering wealth jump in 2023
▼ + stars: | 2023-09-22 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Elon Musk, Mark Zuckerberg, and Jeff Bezos have topped a list of billionaires who saw the biggest wealth increases in 2023. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Musk saw the steepest jump in net worth with a $99 billion increase to $236 billion, cementing his position as the world's richest person. 2 on the list of wealth gainers, with a $61.9 billion increase in his riches to $108 billion. Nvidia CEO Huang's wealth surged by $22.2 billion in 2023 as the chipmaker's stock rocketed 187%, outperforming every other stock in the S&P 500 index.

Persons: Elon Musk, Mark Zuckerberg, Jeff Bezos, Nvidia's Jensen Huang, Larry Page, Sergey Brin, Musk, Zuckerberg, Larry Ellison, Steve Ballmer, Michael Dell, Amancio Ortega, Ortega Organizations: Bloomberg, Google, Service, Meta, Nvidia Locations: Wall, Silicon

☆ Dell has best day on stock market since its relisting in 2018 after earnings sail past estimates
▼ + stars: | 2023-09-01 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Dell shares surged 21.3% on Friday, their best day since the company returned to the public market in 2018. The rally followed a better-than-expected earnings report, driven by a big revenue beat. It's on pace for its biggest gain and highest close since the company relisted its stock five years ago. In addition to its rosy earnings report for the latest quarter, Dell increased its forecast for the year. Morgan Stanley sees Dell benefiting from booming demand for AI servers as more companies focus their spending on that corner of the hardware market.

Persons: Dell, Michael Dell, Morgan Stanley, DELL, Dell's Organizations: Dell, Apple, CNBC, YouTube, Dell Technologies

Major League Baseball was the first to open its coffers to private-investment funds in 2019; a slew of other leagues followed, including the National Basketball Association, Major League Soccer and the National Hockey League. A big participant in that is Sixth Street Partners, a $74 billion behemoth, known historically for its direct lending and growth prowess, and has been making big inroads in the sports world in recent years, with several billion dollars' worth of investments. The firm recently co-founded Bay FC, part of the National Women's Soccer League, alongside several retired players, as well as Sheryl Sandberg. Sixth Street also made investments in FC Barcelona's LaLiga TV broadcasting rights and a majority investment in Legends, a sports and entertainment experiences company. In June 2021, Sixth Street led a strategic investment with Michael Dell in the San Antonio Spurs basketball team.

Persons: Carlyle, David Rubenstein, Sheryl Sandberg, Michael Dell, Alan Waxman, what's, it's, Waxman Organizations: Alpha, CNBC, Major League Baseball, National Basketball Association, Major League Soccer, National Hockey League, Sixth Street Partners, Bay FC, National Women's Soccer League, Sixth, FC Barcelona's LaLiga, San Antonio Spurs basketball, Spanish soccer, Real Madrid Locations: U.S, Spanish

☆ Zara's billionaire founder – one of the world's richest people – has just bought a $232 million luxury Chicago apartment tower
▼ + stars: | 2023-08-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Amancio Ortega has purchased a 45-story Chicago apartment tower. Ortega, founder of Zara parent company Inditex, splashed out $232 million on the property. Pontegadea, Ortega's family office, bought the 45-story 727 West Madison property, a company spokesperson told Insider. AdvertisementAdvertisementPrices start at $2,166 a month for a studio, rising to $6,083 for the most expensive apartment available, a three-bed. Ortega is the world's 14th richest person, with an estimated net worth of around $75.2 billion, the Bloomberg Billionaires Index shows.

Persons: Amancio Ortega, Ortega, there's, Charles Koch, Michael Dell, Walton, Inditex Organizations: Seattle HQ, Toronto's Royal Bank, Service, Madison, Chase Bank, Bloomberg, Pontegadea, Meta's Seattle, Royal Bank Plaza Locations: Chicago, Zara, Manhattan, Wall, Silicon, Cook County, Meta's, Toronto

☆ Michael Dell Asks $35 Million for Penthouse Atop Boston’s Tallest Condo Tower
▼ + stars: | 2023-07-13 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/michael-dell-asks-35-million-for-penthouse-atop-bostons-tallest-condo-tower-69d4d17a

Persons: Dow Jones

☆ The history of Apple in photos, from the early Steve Jobs era and iPhone launch to crossing the $3 trillion milestone under Tim Cook
▼ + stars: | 2023-06-30 | by ( Matt Weinberger | Avery Hartmans | Sindhu Sundar | ) www.businessinsider.com time to read: +1 min

But the iPhone-maker almost didn't make it this far — it struggled in the '90s until Steve Jobs returned as the company's CEO. Apple has weathered hits and flops over the years, from the launch of the influential Apple II to the misguided Newton MessagePad. Apple surpassed a $3 trillion market cap on Friday morning — a milestone it previously hit once last year but didn't sustain. Michael Dell himself once quipped that if he were in Jobs' shoes, he'd shut Apple down and return the money to the shareholders. Here's a look into the history of Apple in photos, from its inception, through its hard times, to the triumphant return of Jobs.

Persons: Steve Jobs, Newton, Michael Dell Organizations: Apple, Morning, Microsoft

☆ Ex-Goldman partner Adam Dell reportedly paid multimillion-dollar settlement after sending a sexually explicit video to a coworker
▼ + stars: | 2023-06-16 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Ex-Goldman Sachs partner Adam Dell shared a sexually explicit video by mistake, Bloomberg reported. Dell paid a multimillion-dollar settlement to the coworker who saw the video, Bloomberg reported. Goldman Sachs CEO David Solomon was among top execs who looked into the complaint, Bloomberg said. She ultimately settled for less, but Adam Dell, 53, still paid a "multimillion-dollar" settlement, Bloomberg said, citing people familiar with the matter. Adam Dell, who founded the investing platform Domain Money, did not respond to Insider's emailed requests for comment on Thursday.

Persons: Goldman Sachs, Adam Dell, Dell, David Solomon, Bloomberg, Michael Dell's, isn't, hadn't, Tony Fratto, Goldman, Insider's, Padma Lakshmi, Kathy Ruemmler —, Barack Obama — Organizations: Bloomberg, Morning, Dell Technologies, Goldman, Impact Venture Partners, Bravo, New York federal, White Locations: New York

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.

☆ Meet Kim Posnett, the powerful Goldman Sachs dealmaker who was just named head of the investment bank's TMT unit
▼ + stars: | 2023-05-03 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

Kim Posnett was just named head of Goldman's all-important TMT investment banking group. Posnett, 43, has long been one of the most senior figures at Goldman's investment bank. Posnett was previously the head of Goldman's investment-banking services unit, which acts as a salesforce for the global IB division. The former co-head of Goldman's TMT franchise will become co-chairman of the unit. The former would result in the IB services group, which functions, in effect, as a sales force.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ Fifty-three million tons of electronics become junk every year. Here's how one company is tackling the problem.
▼ + stars: | 2023-04-26 | by ( Sponsor Post | Created Insider Studios With Dell Technologies | ) www.businessinsider.com time to read: +6 min

Dell is stepping up to tackle this problem, committing to a circular business model. By 2030, Dell will ensure that 100% of its packaging will be either reused or made from recycled or renewable material. Additionally, more than half of its product content will also be made from recycled, renewable, or reduced carbon emissions material. Already, there are almost 400 million pounds of sustainable materials in Dell's products and packaging and 55% of its electricity comes from renewable sources. "Our emphasis on environmental, social, and governance measures ensures that while we accomplished our business goals, we also delivered positive results for all of our stakeholders," he said.

☆ The next big thing in Big Tech career path is an AI-based 'bilingual' job skillset
▼ + stars: | 2023-04-02 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

Microsoft unveiled new versions of its Bing internet-search engine and Edge browser powered by the newest technology from ChatGPT maker OpenAI. But the biggest one of all may be next, he says, through the combination of artificial intelligence and branches of science involved in medicine. But the opportunity won't translate into achievement without a new form of collaboration between the classic big tech talent and the medical field. One of her portfolio companies, Insitro, was founded by Stanford AI researcher Daphne Koller (Koller co-founder edtech company Coursera). "There is lots of exciting big talent opportunities coming from big tech and big cap pharma," she said.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ Analysis: Goldman Sachs CEO, after missteps, to take center stage at investor day
▼ + stars: | 2023-02-24 | by ( Saeed Azhar | ) www.reuters.com time to read: +6 min

"It's a pretty important investor day," said Mike Cronin, investor director at fund manager abrdn, which owns a stake in the bank. In 2020, Solomon kicked off Goldman's inaugural investor day by telling participants they should feel free to "break into open applause." A deal could broaden Goldman's revenue beyond trading and investment banking, which can be buffeted by economic cycles. The investor day is also an opportunity for the company to address questions around Solomon's leadership after bad press, Mayo said. But several presenters from the 2020 investor day have since left.

☆ From a horseback-riding model to a secret daughter: Meet the children of Apple cofounder Steve Jobs
▼ + stars: | 2023-02-24 | by ( Grace Kay | Aaron Mok | ) www.businessinsider.com time to read: +12 min

Steve Jobs left the bulk of his fortune to his wife, Laurene Powell Jobs, when he died in 2011. Later, he had Reed Jobs, Erin Jobs, and Eve Jobs with his wife, Laurene Powell Jobs. Meet Jobs' four children and his widow Laurene Powell Jobs, and see how his legacy helped his loved ones succeed. Erin Siena JobsErin Siena Jobs is the most private of Steve Jobs' children. Vianney Le Caer/Invision/APTwenty-four-year-old Eve Jobs, the youngest of Steve Jobs' children, is a model and an accomplished equestrian.

☆ I manage a Davos hotel where Bill Gates and other leaders stay for the World Economic Forum. We barely sleep and live off Red Bull, but we love it.
▼ + stars: | 2023-01-16 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +9 min

Hans-Rudolf Ruetti manages the Grandhotel Belvédère, where the most important WEF participants stay. For more than 50 years, what's now known as the World Economic Forum (WEF) has taken place in Davos, and every year, the Grandhotel Belvédère has hosted WEF guests. There are several events being put on by important guests, and this is always a challenging task when it comes to safety and security. We also built an additional three kitchens from where we can deliver food exclusively for hotel guests and events hosted here by the forum participants. There really isn't anything we at the hotel don't like about the WEF.

☆ Amazon employees think the company is lowering the bar with a streamlined interview process
▼ + stars: | 2023-01-12 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +5 min

This is Matt Weinberger, deputy editor of Insider's tech analysis team, filling in once again for your regular captain Diamond Naga Siu. Stop me if you've heard this one: Amazon walks into a bar... But seriously folks, my colleague Eugene Kim reports on a big, meaningful change in the online retail giant's hiring process. Some employees think so, Insider's Eugene Kim reports. He says that "current and former bar raisers I talked to were not too happy about this decision and were concerned about its potential to drag down Amazon's hiring bar."

☆ Layoffs are hitting Wall Street. Here's what you can do to land on your feet if you lost your gig.
▼ + stars: | 2023-01-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

But first, dark days on Wall Street. Two of the most high-profile firms on Wall Street — Goldman Sachs and BlackRock — made job cuts that impacted thousands of workers. All of that is to say, after a good run of things on Wall Street, the tide is starting to turn. I called a Wall Street recruiter to pick their brain on advice they'd give to those who just lost their jobs. Wall Street did not have a good showing on a list of the best places to work.

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