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☆ Amazon's post-Bezos experiment hasn't gone exactly as planned
▼ + stars: | 2023-03-20 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

Amazon CEO Jeff Bezos speaks during an Action on Forests and Land Use event on day three of COP26 at SECC on November 2, 2021 in Glasgow, United Kingdom. Since Jassy officially succeeded Bezos in July 2021, Amazon has experienced its most turbulent period since the dot-com crash. But whether it's bad luck, his own missteps or some combination of the two, Jassy is an unenviable position as only the second CEO in Amazon's history. So far, the Jassy era has been all about belt tightening and retrenchment from some of Amazon's more experimental pursuits. He made the decision to shutter all of its 4-star, Pop Up and Books stores and, earlier this year, announced Amazon would close some Fresh supermarkets and Go cashierless convenience marts.

☆ Walmart CEO Plans to Stay in Role at Least Three More Years
▼ + stars: | 2023-03-03 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

With Doug McMillon, Walmart’s 56-year-old CEO, planning to stay in the role, the company has more time to name a successor. Walmart Inc. Chief Executive Doug McMillon plans to helm the country’s largest retailer for at least three more years as the company continues work to identify a successor, according to people familiar with the matter. Mr. McMillon, 56, a Walmart lifer who has held the job since 2014, is the company’s fourth CEO since founder Sam Walton . His plans to stay in the role for more than a decade will extend the company’s timeline for finding its next leader, the people said.

☆ Some FedEx employees say layoffs are wrecking morale and chipping away at the famous loyalty that Fred Smith built
▼ + stars: | 2023-02-15 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Some insiders see the layoffs as a failure of leadership and fear a lasting shift in FedEx culture. But now, some also question if the company Smith built is changing for good. "The erosion just kept happening," said one former FedEx who left the company in the last year. Inside the company, employees are doing the back-of-the-envelope calculations on the cuts still to come — Subramaniam promised $4 billion and cuts this fiscal year. "There is still that emphasis that people are first at FedEx," said a 15-year FedEx veteran who left last year.

☆ Kazuo Ueda, Tapped as Bank of Japan Chief, Is Seen as Pragmatic Insider
▼ + stars: | 2023-02-14 | by ( Megumi Fujikawa | ) www.wsj.com time to read: 1 min

Kazuo Ueda isn’t a Bank of Japan lifer, but people who know him say he is the next closest thing to one. TOKYO— Kazuo Ueda , who was picked Tuesday to lead Japan’s central bank, is a pragmatist steeped in the institution’s culture who is likely to seek balance among competing camps, say people who know him. In his writings, Mr. Ueda, 71, tends to discuss scenarios and risks without advocating any position, sometimes irking those who want more aggressive action.

☆ Changes hit The Wall Street Journal during new EIC Emma Tucker's first week, as she installs a chief of staff and the paper's veteran managing editor departs
▼ + stars: | 2023-02-10 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +3 min

Taneth Evans, who previously ran audience development at The Times of London, will be Tucker's chief of staff, three Journal sources said. The top editorial ranks at The Wall Street Journal are already changing under new Editor-in-Chief Emma Tucker. Tucker has tapped Taneth Evans as her chief of staff, according to three Journal sources. On Monday, the British-born Tucker addressed Journal staff for the first time from the paper's New York headquarters. Pensiero held a variety of roles during her tenure, including editor for newsroom standards and managing editor for international.

☆ Does anyone want to stay in investment banking these days?
▼ + stars: | 2023-02-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Banker salaries will get you in first class, but the potential total comp at PE firms and hedge funds will get you flying private. PE firms have been known to grind through people, but nothing quite compares to life at an investment bank. An investment bank's analyst program remains the go-to route to get your foot in the door on the Street. Click here to read more about salaries being offered by top PE firms to 2024 associates. All kidding aside, this deep dive by ProPublica is a fascinating look into how investment firms are helping the ultrarich save on taxes.

☆ PE firms' eagerness to recruit junior bankers is blowing up in their faces. Here's why they need to change.
▼ + stars: | 2023-01-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As Insider's Emmalyse Brownstein reports, some PE firms are scrambling to fill positions that, in years past, would have been locked up for months. Some context on PE recruiting: Firms recruit, interview, and make offers to junior bankers well ahead of their actual start dates. Some junior bankers didn't feel comfortable interviewing for a new role when they had barely settled into their current ones. The fact PE firms need to go back to the well to fill open seats should be a wake-up call. Click here to read more about how PE firms' early recruitment of junior bankers backfired.

☆ These van-lifers stay in scenic mansions for free as traveling house-sitters — here's how
▼ + stars: | 2023-01-19 | by ( Claire Turrell | ) www.businessinsider.com time to read: +8 min

Danielle Gross and Gunnar Michels got married as strangers on TikTok on Valentine's Day in 2021. Michels posted a video on TikTok for a stranger to be his bride and selected Gross from around 1,000 responses. Courtesy of Danielle Gross and Gunnar Michels"The house was absolutely gorgeous," Gross said. "We pull up with our ambulance and then we slowly bring our belongings into the house," Michels said. Courtesy of Danielle Gross and Gunnar MichelsMichels and Gross said horse-sitting at another house was a breeze.

☆ 3 reasons why Nike's ex-CEO is what Disney needs right now
▼ + stars: | 2023-01-12 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

At Nike, Parker engineered the company's direct-to-consumer push. During his 14 years as Nike CEO, the company's revenue nearly tripled. In 2017, as Nike CEO, Parker introduced the Consumer Direct Offense, an aggressive direct-sales push that's been a winner with Wall Street, although frustrating some on Main Street. While he was Nike CEO, Parker frequently used the phrase "always on the offense" to describe the company's aggressive approach to growing sales and market share. The company's stock climbed more than 760% during his CEO tenure, far exceeding the market.

☆ The Teamsters' new chief is readying UPS drivers for a strike as he heads toward contract negotiations — and key moves show he's not bluffing
▼ + stars: | 2022-12-31 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

UPS drivers will be ready to strike next summer, said the Teamsters general president Sean O'Brien. The process left many members disenchanted with their union, multiple UPS drivers told Insider. Partly as a reaction to those grumblings, Teamsters lifer Sean O'Brien was elected to take over the union's leadership last year. And for months, O'Brien has openly spoken about UPS drivers going on strike for the first time in 25 years. O'Brien has said publicly several times that he plans to use the UPS contract negotiations as an example for other workforces that have yet to unionize — especially Amazon.

watch nowAfter more than three decades, "The Phantom of the Opera" is getting ready to hang up its mask on Broadway. Casting director Tara Rubin has helped hand-pick the actors for the beloved musical for more than three decades — working just down the street from the Majestic. "Phantom of the Opera" Casting Director Tara Rubin CNBC"I never really dreamed that I would have a job like this," Rubin told CNBC. Rubin is just one of 20 "lifers" who have worked on the show for more than three decades. "Phantom of the Opera" Head Electrician Alan Lampel CNBCThe one-ton chandelier is the centerpiece of the show.

☆ Meet 5 of Goldman Sachs' newest partners, including a top fintech dealmaker and a structured trader from Honduras whose 3 brothers also work on Wall Street
▼ + stars: | 2022-11-09 | by ( Dakin Campbell | Alex Morrell | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

It also includes a star fintech banker and leading voice on the Black experience on Wall Street. Here are 5 top names who will help shape the Wall Street of tomorrow. In the 12 years that he's been at Goldman, Watkins has helped Goldman advise on some of the technology industry's biggest transactions. He has also been a leading voice in discussing the Black experience on Wall Street. After graduating in 2010, he went to work for the Global Electronic Trading Co., known on Wall Street as GETCO.

☆ Seeking a Manhattan Studio With Design Potential for $600,000. Which Option Did He Choose?
▼ + stars: | 2022-10-27 | by ( Stefanos Chen | ) www.nytimes.com time to read: +3 min

Nothing excites Eric Wong like the thrill of the hunt — usually in the clearance section of a West Elm outlet store. “I get high as hell on a deal,” Mr. Wong, 42, said of his best finds at the interior-design chain. “He’s basically furnished his whole apartment with West Elm stuff,” said his sister, Elke Wong. “I still love them, so hard,” Mr. Wong said of his erstwhile coworkers. Mr. Wong wanted something centrally located, but also fun for a bachelor.

In 2020, Delury purchased a 2015 van with 24,000 miles for $31,000. She paid a $10,000 down payment on the van using money she'd saved from selling customized jackets that went viral after the Jonas Brothers shared them on social media. Delury told CNBC Make It that according to her calculations she's saved $10,000 since moving into her van two years ago. Tory Delury wanted the inside of her van to be as girly as possible, which is why she wanted everything to be pink. In an additional homage to Swift, Delury painted lyrics of the song "Daylight" from Swift's "Lover" album around the van and has several of the singer's albums hanging in a corner too.

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