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Srikumar Rao has spent his decades-long career teaching Fortune 500 executives and students at the world's top business schools how to be happier at work. "People ask me all the time, what's the number one tip you can give me to be happier at work, or happier in my life? Just be present,'" Rao, 72, tells CNBC Make It. Rao, who has a Ph.D. in business from Columbia Business School, has taught at London Business School, the Haas School of Business at the University of California, Berkeley, Columbia Business School and elsewhere. He's also done pioneering research into workplace motivation and led employee workshops at Google, Microsoft and Merill Lynch, among other companies.
Persons: Srikumar Rao, He's, Rao, Merill Lynch Organizations: Fortune, CNBC, Columbia Business School, London Business School, Haas School of Business, University of California, Google, Microsoft Locations: Berkeley
So it's no wonder that through the past couple of years, working on and around private credit deals has become Wall Street's career du jour. Private credit is most often floating-rate debt — that is, debt where interest rates rise in concert with rate hikes. 'Unheard of' salaries, while risks abound in the marketIt's worth noting what private credit is: we're talking about debt and loans. "For most of my career, attracting new attorneys to private credit was a challenge. Proskauer's private credit group now has 90 lawyers, 24 of whom are partners, working full-time on private credit.
Persons: that's, Marc Rowan, Marc Lipschultz, Goldman Sachs, Paul Heller, Hannah Robb, Robb, It's, Cliffwater, Heller, Caldwell, Banks, Carlyle, Blackstone, Marco Acerra, Spencer Stuart, it's, Acerra, Richard Fernand, Nicholas Kalogeropoulos, Sam Iles, I've, Mike Mezzacappa, Evan Palenschat, Robert Lewin Organizations: Blackstone, Partners, CFA Institute, Columbia Business School, Wall Street, Alpha FMC, Barclays, Goldman Locations: New York
Companies are just baking all those fees into the total price — making the hidden fees even more hidden. On the first page, you see the ticket price. I have never seen a good justification of what I'd call mandatory hidden fees. The Canadian government is also looking to pare down hidden fees. After all, Mahoney told me, "I have never seen a good justification of what I'd call mandatory hidden fees."
Persons: I'd, Neale Mahoney, Joe Biden's, Mahoney, Marcos Villaoslada, Sara Fisher Ellison, Ellison, Harold Hill, obfuscation, you've, Vicki Morwitz, Morwitz, — they've, StubHub, Laura Dooley, StubHub's, pare, Michael Negron, , they're, Joe Biden, Alex Wong, Maggie Rogers, she'd, Audrey Fix Schaefer, Juliana Kaplan Organizations: Stanford University, White, Economic Council, Europa Press, Getty, MIT, Columbia Business School, YouGov, Ticketmaster, National Economic Council, NPR, Federal Trade Commission, I.M.P, Independent, Association Locations: New York, upsell, Europe, Washington ,
Footwear companies have found recent success going public market, but not all by any means over the longer-term. In more recent history, the brand has collaborated with Rick Owens, Dior, and Manolo Blahnik, among many other big names in fashion. The current IPO market landscape The IPO market has been all but frozen since the pandemic stock offering boom crashed, and successful IPOs have included iconic brands, such as the Johnson & Johnson spinoff of its consumer health business which includes Tylenol and band-Aids in the Kenvue IPO. Still, while Kenvue was the biggest deal of the year, it's barely holding onto its IPO price today, according to CNBC and Renaissance Capital data, and the IPO market overall hasn't performed great after listing. The two potential paths of a footwear IPO can be tracked by the histories of Crocs and Allbirds.
Persons: Nordstrom, Jeff Greenberg, what's, Johann Adam Birkenstock, Birkenstock, Angelo Bochanis, Oliver Reichert, outsized, Reichert, Konrad Birkenstock, Johann, Karl, Konrad, Margo Fraser, Kim Knott, Kate Moss, Corinne Day, Rick Owens, Dior, Manolo Blahnik, Jeremy Moeller, Barbie, Margot Robbie, Johnson, Kenvue, it's, hasn't, Mark Cohen, Cohen, Jamie Dimon, Dimon, Bochanis, " Cohen Organizations: Universal, Getty, New York Stock Exchange, Nasdaq, Holding, Renaissance, Consumers, British Elle, Brand, CNBC, Columbia Business School, Facebook, Wall, JPMorgan, Company Locations: Merrick, , Miami, Germany, America, California, British, Arizona, It's, U.S
Makers vs. Taylor Swift Shakers
  + stars: | 2023-09-11 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Zuma Press/EPA/Shutterstock Composite: Mark Kelly“I think Taylor Swift is great for the soft landing,” Columbia Business School economist Brett House declared in the New York Times . Not wanting a recession, I almost rushed out and bought $1,000 tickets and $25.99 friendship bracelets, but then I remembered that isn’t how the economy works. There are two sides of the economy: the productive side and the spend side. We have makers and, appropriate to Swifties, shakers.
Persons: Kim Strassel, Kyle Peterson, Dan Henninger, Mark Kelly “, Taylor Swift, Brett House Organizations: Zuma Press, Columbia Business School, New York Times
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailColumbia Business professor talks commercial real estates 'doom loop'Stijn Van Nieuwerburgh, Columbia Business School professor of real estate and finance, joins 'Power Lunch' to discuss key triggers of an urban doom loop, dramatic reduction in office demand adding downward pressure on city tax revenues and bank equity eroding due to debt exposure in properties with declining values.
Persons: Van Nieuwerburgh Organizations: Columbia, Columbia Business School
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina needs aggressive stimulus soon or it could experience Japan's 'lost decade', professor saysShang-Jin Wei, professor at Columbia Business School, says China needs to find ways to implement stimulus measures without being dragged down by its high debt load.
Persons: Japan's, Shang, Jin Wei Organizations: China, Columbia Business School Locations: China
Now that summer is starting to fade, the search for jobs is heating up. Now that summer is starting to fade, the search for jobs is heating up. It's sort of like a psychological thing, like: 'Oh, I should start looking,'" Steinitz told Insider. Applying for jobs can feel like a job itself, but be patient throughout this process. AdvertisementAdvertisementAnd if you aren't on the job hunt, beware of joining the growing contingent of "grumpy stayers" — people who are reluctantly stuck at their jobs amid a cooling labor market.
Persons: Here's, Mike Steinitz, Robert Half, Steinitz, here's, Brett Organizations: Service, Columbia Business School Locations: Wall, Silicon
On social media, though, the biggest issue seems to be the retailer's mirrorless fitting rooms. Aritzia's communal fitting rooms are part of the brand's DNASo why make customers go through this awkwardness? The mirrorless fitting rooms go against a growing trend in retail. Eugene Gologursky/Getty ImagesAritzia's mirrorless fitting rooms go against a growing trend in retail. For Aritzia, mirrorless rooms are part of its DNA.
Persons: Aritzia, Zers, Gen Zers, Becca Bastos, Bastos, commenter, There's, Manini, Madia, Bergdorf Goodman, Eugene Gologursky, we've, Aritzia's Organizations: Service, Columbia Business School, Abercrombie, Fitch Locations: Wall, Silicon, Aritzia
The shared-workspace giant's woes may spell trouble for commercial real estate as a whole. "Excess supply in commercial real estate, increasing competition in flexible space and macroeconomic volatility drove higher member churn and softer demand than we anticipated, resulting in a slight decline in memberships," he said. What does this mean for commercial real estate? Commercial real estate has been one of the hardest-hit sectors of the US economy over the last year. Its failure could be a "systematic shock" to commercial real estate in many American cities, Stijn Van Nieuwerburgh told The New York Times in June.
Persons: WeWork, David Tolley, Elon Musk, Charlie Munger, Jeff Greene, Ross Perot, Van Nieuwerburgh Organizations: Service, Investors, Federal Reserve, Ross Perot Jr, New York Times, Columbia Business School Locations: Wall, Silicon
Lindsey Nicholson | Universal Images Group | Getty ImagesRetailers have zeroed in on organized retail theft as a top priority, as more and more companies blame crime for lower profits. Those mentions could flare up again as a flurry of retail companies will report financial results starting next week. Many of them described organized theft as an industrywide problem that's largely out of their control. While organized theft is a real concern, it is nearly impossible to verify the claims retailers make about it. Target has repeatedly said organized retail theft is fueling its inventory losses.
Persons: Lindsey Nicholson, Foot, Raphael Duguay, Duguay, Mark Cohen, Cohen, Bradlees Organizations: Universal, Getty, Retailers, U.S . Securities, Exchange Commission, Yale University School of Management, Columbia Business School, Sears Canada, Lazarus Department, National Retail Federation, Walgreens, Ucg, . Census, FBI, CNBC, Target Locations: Queens , New York
A Harvard leadership expert thinks Elon Musk is "totally out of his element" in running Twitter. He explained that the billionaire doesn't have any expertise of running a social media platform. A Harvard leadership expert weighed in on Elon Musk's takeover of Twitter and the changes he's made, saying that the billionaire is "totally out of his element" because social media is not his area of expertise. George suggested that Musk should let Twitter's new CEO Linda Yaccarino call the shots. William Klepper, a management professor teaching an executive leadership course at Columbia Business School, previously told Insider that Musk's Twitter takeover is "a case study of failed leadership."
Persons: Elon Musk, doesn't, Bill George, Elon, George, Musk, Parag Agrawal, Ned Sagal, Vijaya Gadde, Sean Edgett, Linda Yaccarino, William Klepper, Klepper Organizations: Harvard, Twitter, Harvard Business School, CNBC, SpaceX, Columbia Business School Locations: Elon Musk's
Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."
Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford
But OpenAI CEO Sam Altman says some jobs are "definitely going to go away." New jobs could be created in their place, but not all displaced workers will benefit. In March, Goldman Sachs forecasted that 300 million full-time jobs across the globe could be disrupted — not necessarily replaced — by AI. Altman told The Atlantic that he expects better — perhaps higher-paying jobs — will be created in place of the ones that are disrupted. The question, however, is whether displaced workers will be able to navigate their way to these new gigs.
Persons: Sam Altman, Altman, he's, it'd, Jobs, Goldman Sachs, Carl Benedikt Frey, Ethan Mollick, Organizations: Service, OpenAI, ChatGPT, Columbia Business School, University of Pennsylvania's Wharton School Locations: Wall, Silicon, Oxford
"Rising interest rates can sometimes feel like a double-edged sword," said Kelly LaVigne, vice president of consumer insights at Allianz Life. As the federal funds rate rises, the prime rate does, as well, and credit card rates follow suit. The average credit card rate is now more than 20% — an all-time high, while balances are higher and nearly half of credit card holders carry credit card debt from month to month, according to a Bankrate report. Student loans Federal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves. For now, anyone with existing federal education debt will benefit from rates at 0% until student loan payments restart in October.
Persons: Stefani Reynolds, they've, Kelly LaVigne, Brett House, WalletHub, Freddie Mac, Edmunds, Ivan Drury Organizations: Eccles Federal Reserve, Bloomberg, Getty, Reserve, Fed, WalletHub, Allianz Life, Columbia Business School, Treasury, Istock Locations: Washington, Edmunds
People's willingness to pay huge amounts for Taylor Swift tickets defies the current economy. I also got swept up by the Eras Tour hype. So when tickets to Taylor Swift's US tour went on sale last year, I wasn't expecting the astronomical demand to basically break the internet. Desperate fans who missed out were paying extortionate amounts of money for second-hand tickets, which were being sold at up to a 4,000% markup. Insider reported that at least two people spent $20,000 on the Eras tour, and that doesn't factor in the elaborate outfits that are pretty much mandatory.
Persons: Taylor Swift, Taylor, , Brett House Organizations: Service, Columbia Business School Locations: Wall, Silicon, Paris
Some of them may have to work harder to keep up when AI technologies enter their workplaces. Experts told Insider AI could displace some white-collar jobs and make others more competitive. "The job tasks usually require little effort." Across the US, businesses are beginning to experiment with generative AI technologies like ChatGPT. "You will not be replaced by AI but by someone who knows what to do with AI," Oded Netzer, a Columbia Business School professor, previously told Insider.
Persons: you've, She's, I've, Goldman Sachs, Carl Benedikt Frey, Kierstin Carter, Carter, she's, she'll Organizations: Service, Columbia Business School, Oxford, Workers Locations: Wall, Silicon, Virginia, Austin , Texas
The journalist Evan Gershkovich has been in captivity in Moscow for 100 days on espionage charges. My friend Evan Gershkovich, many of you now know, was captured by the Russian government on March 29. Evan loves his friends. Evan loves the Mets, and he loves Arsenal, and he especially loves sharing those teams with people who aren't already under the spell. Natalia Kolesnikova/AFP/Getty ImagesLet's bring Evan homeFor everyone who is friends with Evan, for everyone in his orbit, he's the center of their world.
Persons: Evan Gershkovich, He's, extrovert who'd, Jeremy Berke, Evan, he'd, Gershkovich, It's, , Yevgeny Prigozhin, Berke, He'll, we'd, Natalia Kolesnikova, — who've, Let's, we've, We've, he's, I'm, Jeremy Organizations: Moscow, Morning, CNN, Wall Street, Bowdoin College —, New York Times, Russia's, Muscovites, West, Arsenal, Mets, Court, Getty, Columbia Business School Locations: Moscow, Russian, New York, Soviet Union, New Jersey, Russia, Ukraine, Brooklyn, AFP
The journalist Evan Gershkovich has been in captivity in Moscow for 100 days on espionage charges. My friend Evan Gershkovich, many of you now know, was captured by the Russian government on March 29. Evan loves his friends. Evan loves the Mets, and he loves Arsenal, and he especially loves sharing those teams with people who aren't already under the spell. Natalia Kolesnikova/AFP/Getty ImagesLet's bring Evan homeFor everyone who is friends with Evan, for everyone in his orbit, he's the center of their world.
Persons: Evan Gershkovich, He's, extrovert who'd, Jeremy Berke, Evan, he'd, Gershkovich, It's, , Yevgeny Prigozhin, Berke, He'll, we'd, Natalia Kolesnikova, — who've, Let's, we've, We've, he's, I'm, Jeremy Organizations: Moscow, Morning, CNN, Wall Street, Bowdoin College —, New York Times, Russia's, Muscovites, West, Arsenal, Mets, Court, Getty, Columbia Business School Locations: Moscow, Russian, New York, Soviet Union, New Jersey, Russia, Ukraine, Brooklyn, AFP
US commercial real-estate values aren't likely to recover until 2040, according to Capital Economics' deputy chief property economist. Kiran Raichura said office values are unlikely to rebound to their peaks until 2040 thanks to the strengthening work-from-home trend, and high interest rates. The commercial real estate (CRE) industry has been under stress since the US regional-banking sector faced a bout of turmoil earlier this year. Columbia Business School professor Stijn Van Nieuwerburgh recently warned that the pain is just beginning for commercial real estate – and tumbling prices could fire up the banking crisis again and hurt the US economy. Furthermore, rising distressed commercial real-estate assets is adding to concerns a crisis may be brewing in the sector.
Persons: we've, Kiran Raichura, , Raichura, Stijn Van Nieuwerburgh Organizations: Capital Economics, Service, Columbia Business School
A Columbia professor has issued a bleak outlook for commercial real estate in the US. Office values are plunging and threaten to cause an "urban doom loop," Stijn Van Nieuwerburgh said. If cities become more expensive and less appealing, people are likely to move out, cutting real estate values even more and causing a downward spiral, he said. Pension funds, real estate investment trusts (REITS), and other entities have invested significant sums in CRE, and the office segment specifically. "I do worry that there is potential for a spillover here, that we haven't seen the end of the banking crisis yet," Van Nieuwerburgh said.
Persons: Van Nieuwerburgh, , Stijn Van Nieuwerburgh Organizations: Service, Columbia Business School, Bank, Signature Bank Locations: Columbia, CRE, Silicon
Some 212,294 workers in the tech industry have been laid off in 2023 alone, according to data tracked by Layoffs.fyi, already surpassing the 164,709 recorded in 2022. But in the shadow of those mass layoffs, the tech industry has also been gripped by an AI fervor and invested heavily in AI talent and tech. Roger Lee, a startup founder who has been tracking tech industry layoffs via his website Layoffs.fyi, also runs Comprehensive.io, which examines job listings and compensation data across some 3,000 tech companies. Those looking to thrive in the tech industry and beyond may need to brush up on their AI skills. It’s not that everyone needs to become AI specialists, Wang added, but rather that workers should know how to use AI tools to become more efficient at whatever they’re doing.
Persons: Arvind Krishna, Barrons, Krishna, Dropbox, , Drew Houston, , Dan Wang, ” Wang, Mark Zuckerberg, Roger Lee, Lee, Wang, It’s, That’s Organizations: CNN, Bloomberg, Columbia Business School, Layoffs.fyi, Microsoft, Machine Locations: OpenAI, Silicon Valley
Sotomayor and Thomas are both the likely beneficiaries of affirmative action. A student at Harvard University at a rally in support of keeping affirmative action policies outside the Supreme Court on October 31, 2022. A young boy at the University of California, Berkeley in 1995 as students and families protested to keep affirmative action policies. In a statement following the ruling, former president Barack Obama wrote, "Like any policy, affirmative action wasn't perfect. Roberts accused the colleges' affirmative action programs of "employ[ing] race in a negative manner" without any "meaningful end points."
Persons: Sotomayor, , Clarence Thomas, Thomas, Sonia Sotomayor, colorblindness, Colorblindness, Howard Schultz, Tomi Lahren, Plessy, Ferguson, John Marshall Harlan, Antonin Scalia, Justice Roberts, Harlan's, David Butow, Roberts, Barack Obama, Michelle, haven't, Evelyn Hockstein, Michelle Obama, Katherine Phillips, Phillips Organizations: Supreme, Service, Harvard University, University of North, Latina, Yale Law School, Starbucks, Washington Post, Getty, Black, Seattle School District, University of California, Harvard, UCLA, UC, REUTERS, Princeton, Scientific, Columbia Business Locations: Berkeley, University of North Carolina, California, Idaho
Experts told Insider that Gen Z was well positioned to capitalize on the AI boom. That could supercharge Gen Z careers, as generative AI is expected to affect millions of jobs, and companies are already seeking talent to help navigate those changes. "From that perspective, Gen Z should be in a good position to capitalize on the AI boom." Gen Zers are using AI for research and brainstormingLais Silva, a Gen Z content manager at a social-media startup, said she'd essentially replaced Google with ChatGPT. Older generations could have a competitive edge over Gen Z because of experience — if they're open to learning AI toolsThe AI revolution isn't guaranteed to be a boon for Gen Z workers.
Persons: Z, , AJ Eckstein, He's, He'll, Eckstein isn't, they'd, Gen Zers, ChatGPT, Carl Benedikt Frey, Eckstein, Lais Silva, she'd, Morgan Young, chatbots, She'll, Oxford's Frey, Columbia's Netzer, Gen Organizations: Service, Fortune, Columbia Business School, Pew, Oxford University, Google
"Barbie" isn't just the biggest ticket of the summer, it's also the hottest merch money can buy. Since its creation in 1959, the Barbie brand has had countless partnerships and licensing arrangements with brands in related industries. "When you're an icon, everyone is familiar with you instinctively," Quint tells Make It. "Add on the marketing push that you get with a Hollywood film, and you've got the explosion of attention, content and partnership around the movie." The boutique cinema chain Alamo Drafthouse is leaning into the Barbie hype, launching its first-ever tie-in merchandise collection alongside the film.
Persons: isn't, it's, Margo Robbie, Matthew Quint, Quint, you've, Barbie, they'll Organizations: Malibu, Columbia Business School, Alamo
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