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☆ Elon Musk and Mark Zuckerberg's cage fight vow is the latest example of how martial arts are taking hold of Silicon Valley tech bros
▼ + stars: | 2023-06-25 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Tech executives including Mark Zuckerberg and PayPal's Dan Schulman have taken up martial arts. Zuckerberg is now sizing up Elon Musk as his latest opponent, as the pair agreed to go head-to-head in a cagefight. Danny Zelig trains PayPal CEO Dan Schulman in Krav Maga, which was developed by the Israeli army. Zelig said that in sparring sessions, Schulman would often wait to for him to strike, which let Zelig dictate the fight. She added that the training helped her to focus on the present and develop distance from her work in her "own version of mindfulness."

Persons: Mark Zuckerberg, PayPal's Dan Schulman, Zuckerberg, Elon Musk, Joe Rogan, Joris Merks, Benjaminsen, Danny Zelig, Dan Schulman, Krav Maga, Zelig, Dan, Maga, Schulman, Joanna Pineda, Bob Rosin, it's, Rosin Organizations: Morning, Big Tech, Facebook, UFC, Forbes, Matrix Group, hapkido, Microsoft, Skype Locations: Redwood City , California

☆ CEOs do matter when picking stocks. 5 things we look for in a leader and examples from our portfolio
▼ + stars: | 2023-06-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 min

It's not unusual for a company's stock price to soar — or sink — on news of a CEO shakeup. So, CEOs matter when picking stocks — and at the Club, these are the five things we look for when evaluating the leaders of our holdings. A stock's day-to-day and even month-to-month performance may not truly reflect how well a CEO is leading a company. Trust has value, and the stocks of companies led by reputable CEOs with competent management teams can trade at premium valuations. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Mary Dillon, Locker, J im Cramer, buybacks, Rainer Blair, —, Kevin Johnson, Marc Benioff, Mark Zuckerberg, Zuckerberg, we've, Bruce Broussard, Humana, Jeff Smith's, Craig Jelinek, who's, that's, Jelinek, it'd, Andy Jassy, Tim Cook, he's, Cook, Jim Cramer's, Dan Schulman, Sanjiv Lamba, Linde, Lamba, Eli Lilly, Dave Ricks, Eli Lilly's, Jim, Lilly, Jim Farley, Farley, Elon Musk's Tesla, Ford, LLY, Jim Cramer, Spencer Platt Organizations: Club, McKinsey & Co, Natural Resources, GE Life Sciences, SVB Securities, Starbucks, Humana, Bain & Co, Costco, CNBC, Apple, Amazon's, Football, MGM, Management, PayPal, Linde, LIN, Ford Motor, Wall, EV, Ford, The New York Stock Exchange, Financial, Getty Locations: U.S, Manhattan, New York City

☆ Cava CEO Brett Schulman on IPO offering, road to profitability
▼ + stars: | 2023-06-15 | 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 EmailCava CEO Brett Schulman on IPO offering, road to profitabilityCava CEO Brett Schulman joins 'Squawk on the Street' to discuss the restaurant chain's IPO offering at the New York Stock Exchange, profitability timeline, the appeal of Mediterranean cuisine, and more.

Persons: Brett Schulman Organizations: Cava, New York Stock Exchange

June 15 (Reuters) - Mediterranean restaurant chain Cava Group (CAVA.N) notched a valuation of $4.7 billion in a stellar market debut on Thursday, signaling the IPO market was gaining momentum after a lull in 2022. Shares opened at $42 apiece on the NYSE, nearly double the IPO price of $22, last up 89%. Cava sold about 14.4 million shares in the offering, raising $318 million. “We think the markets are always welcoming long-term sustainable growth stories, especially category defining brands, as we try and define the Mediterranean category,” Cava Co-founder and CEO Brett Schulman said. Cava was founded by three friends with Greek roots — Ted Xenohristos, Ike Grigoropoulos and Dimitri Moshovitis — and opened its first restaurant Cava Mezze in Rockville in 2006.

Persons: Cava, Matthew Kennedy, Johnson, Brett Schulman, Ted Xenohristos, Ike Grigoropoulos, Dimitri Moshovitis —, Morgan, Jefferies, Manya Saini, Savyata Mishra, Echo Wang, Vinay Dwivedi Organizations: NYSE, Renaissance Capital, Reuters, Rivian, ”, Restaurant Brands, Cava, Citigroup, Thomson Locations: Cava, CAVA, United States, ” Cava, Rockville, Bengaluru, Echo, New York

☆ Mediterranean restaurant chain Cava stock soars as much as 107% in market debut
▼ + stars: | 2023-06-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. The stock trades on the New York Stock Exchange under the ticker symbol "CAVA." The company sold 14.4 million shares, raising nearly $318 million and initially valuing the restaurant chain at roughly $2.45 billion. Shares of Mediterranean restaurant chain Cava soared as much as 107% in its market debut Thursday morning before giving up some of those gains. Sector leader Chipotle made its public market debut back in 2006 and has seen its market value grow to $56.9 billion.

Persons: Zoes, It's, Brett Schulman, Chipotle Organizations: New York Stock Exchange, Group, Brands Locations: Cava, New York City, Chao

☆ 10 Things in Tech: A French Gigafactory, Google's WFH crackdown, and Tesla's bioweapon defense mode
▼ + stars: | 2023-06-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Speculation is rife ahead of Elon Musk's trip to Paris, where he's due to attend the VivaTech conference next week. The video platform is aiming to challenge the tech giant by quadrupling its ecommerce business, according to a Bloomberg report. Musk has repeatedly criticized OpenAI's relationship with tech giant Microsoft. The tech giant is planning to include attendance figures in performance reviews, according to an internal email sent on Wednesday, which was seen by Insider. Tesla drivers are using the car's bioweapon defense mode to escape wildfire smoke.

Persons: Nathan Rennolds, let's, Clive Mason, Tesla, Elon, Marc Benioff, Dan Schulman, Bernard Arnault, Maurice Lévy, Sam Altman, Elizabeth Frantz, Morgan Stanley, TikTok, Musk, Altman, Tesla's, Ted Lasso, Keeley, Lionel Messi, Getty, Simon Bruty, he's, Messi, Brandon Baum, Instagram, Hallam Bullock Organizations: Google, Getty, Twitter, Reuters, Big Tech, Amazon, Bloomberg, Elon, Microsoft, Economic, Juno, Messi, Inter Miami —, YouTube Locations: London, WFH, France, Paris, Southeast Asia, Miami

☆ Their Show Flew Under the Radar. TikTok Blew It Up.
▼ + stars: | 2023-06-08 | by ( Calum Marsh | ) www.nytimes.com time to read: +1 min

“Usually when you say ‘They took a chance on us,’ it means they took a chance because the show could have been bad,” Schulman said. “I got the feeling that this could be really special,” she said. While Marsden was initially intrigued by the idea, he said in a phone interview that his doubts set in once the production began. “It was on a brand-new streaming platform that no one had ever heard of, so I didn’t really think it was going to go anywhere,” Gladden said over the phone from Los Angeles. “I truthfully didn’t think anything was going to come from it.”

Persons: ” Schulman, Anderson, — hadn’t, “, ”, James Marsden, Marsden, ” Gladden Locations: Los Angeles

☆ Lecher Actress Victim Spy
▼ + stars: | 2023-06-04 | by ( Alexandra Jacobs | ) www.nytimes.com time to read: +1 min

LUCKY DOGS, by Helen SchulmanThat Harvey Weinstein hired a private international spy agency called Black Cube to help squash stories about his sex crimes always seemed stranger than fiction. In an author’s note, Helen Schulman states explicitly that her seventh novel, “Lucky Dogs,” was inspired by two players in this globe-spanning chapter of the Weinstein saga. “How could one woman do this to another woman?” Schulman had wondered, reading ragefully about the case. The question might sound naïve: Has she not seen the foundational Hollywood text “All About Eve”? But her imagined answer, in the form of this book, is deeply knowing, properly indignant and — maybe the best revenge — very funny.

Persons: Helen Schulman, Harvey Weinstein, ”, Weinstein, Rose McGowan, Stella Penn Pechanac, McGowan, ” Schulman, Eve ”, Schulman, refashioned McGowan, Meredith “ Merry ”, who’s Organizations: Twitter Locations: Meredith “ Merry ” Montgomery, Paris

☆ Big Tech execs like Mark Zuckerberg are swapping the boardroom for the dojo. Here's why martial arts are taking hold of Silicon Valley.
▼ + stars: | 2023-06-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Tech executives including Mark Zuckerberg and PayPal's Dan Schulman have taken up martial arts. The combat techniques mirror the pace and intensity of the tech industry, one former exec said. Zelig added that Krav Maga helped to build self-awareness, which is important when it comes to decision-making, especially under stress. She added that the training helped her to focus on the present and develop distance from her work in her "own version of mindfulness." He said it's been "invaluable" in helping him negotiate complex partnerships in his former business-development roles at LinkedIn, Microsoft, and Skype.

Persons: Mark Zuckerberg, PayPal's Dan Schulman, Zuckerberg, Joe Rogan, Joris Merks, Benjaminsen, Danny Zelig, Dan Schulman, Krav Maga, Zelig, Dan, Maga, Schulman, Joanna Pineda, Bob Rosin, it's, Rosin Organizations: Morning, Big Tech, Facebook, Forbes, Matrix Group, hapkido, Microsoft, Skype Locations: Redwood City , California

☆ US telecom companies say not in talks with Amazon for wireless services
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +3 min

June 2 (Reuters) - Major U.S. wireless carriers on Friday said they not in talks with Amazon.com Inc (AMZN.O) to offer low-cost wireless services to its Prime members. "AT&T is not in discussions with Amazon to resell wireless services," a company spokesperson said. Verizon spokesperson the company "is not in negotiations with Amazon regarding the resale of (Verizon's) wireless network. Brandon Nispel of KeyBanc Capital Markets said Dish Network, a relatively new entrant in wireless, could be the most likely partner for Amazon. They also rallied in May after a Wall Street Journal report that Dish was in talks to sell its wireless plans through Amazon.

Persons: Christopher Ali, Brandon Nispel, Michael Ashley Schulman, Yuvraj Malik, Aditya Soni, Tanya Jain, Akash Sriram, David Shepardson, Sheila Dang, Nivedita Bhattacharjee Organizations: Major U.S, Amazon.com Inc, Wireless, Bloomberg News, Amazon, Dish Network, Verizon, Mobile, Penn State University, AT, KeyBanc, Journal, U.S, Running, Capital Advisors, Thomson Locations: Major, Bengaluru, Washington, Dallas

☆ From Wall Street to Washington: Which finance execs would make the best public servants?
▼ + stars: | 2023-06-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

There has long been speculation that America's most-famous banker has plans to run for some sort of public office. The path from Wall Street to Washington is well worn, with plenty of high-profile executives taking up positions in the government. When most Wall Street executives were still afraid of the public cloud, she was ready to embrace it with open arms. Jon Gray — Treasury SecretaryBlackstone's president and chief operating officer has already had a brush with public office. The idea of him holding public office doesn't seem far-fetched.

Persons: Dan DeFrancesco, TikTok, I'm, we've, nabbing, Joe Biden's, Kevin McCarthy's, Jamie Dimon, Larry Downing, hasn't shied, Dimon, Dimon's, Bill Ackman, Kenneth Chenault —, Kathy Hochul, she's, Chenault, He's, Larry Fink —, We've, Larry, Fink, Adena Friedman, Friedman, Jon Gray —, Gray, Donald Trump, Gray's, Wall, Sen, Elizabeth Warren, Ken Griffin, Griffin, hasn't, Griffin hasn't, Ron DeSantis, he'll, Brian Moynihan —, Moynihan, Dan Schulman —, PayPal — he's, Taylor Swift, Kevin Mazur, Larry Fink, Franklin Templeton, It's, Rockefeller, Stephen Schwarzman, Warren Buffett, Cliff Asness, that's, Here's, Jeffrey Cane, Nathan Rennolds Organizations: JPMorgan, REUTERS, Bloomberg, American Express, Catalyst, Washington Post, BlackRock, SEC, CFTC, OCC, Nasdaq, Wall, Democrat, GOP, Florida Gov, Commerce, PayPal, Express, Virgin Mobile, Rockefeller Capital Management, Putnam Investments, Blackstone, Credit Suisse, UBS, Reuters, LinkedIn Locations: NYC, Washington, New York, Florida, Chicago, Miami, Ohio, Swiss, London

☆ Drug Shortages Near an All-Time High, Leading to Rationing
▼ + stars: | 2023-05-17 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

The Society of Gynecologic Oncology sent out a nationwide survey in recent weeks. In response, doctors in 35 states said they had little to no supply of key chemotherapy drugs, even at large cancer centers and teaching hospitals. “Our patients are in a war, and what we’re doing is we’re taking their weapons away,” Dr. Timmins said. Dr. Kevin Schulman, a professor at Stanford Medicine who has studied the generic drug industry, said he had urged the White House team to examine how much power the intermediary companies have in contracting with generic drug makers. He said they demand rock-bottom prices, but unlike a customer-facing company like Apple that contracts with suppliers worldwide, the drug intermediaries face no accountability when shortages arise.

☆ Justice Elena Kagan was worried about the ethics of accepting bagels from friends, while Clarence Thomas was enjoying expensive vacations paid for by a GOP megadonor: report
▼ + stars: | 2023-05-11 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Supreme Court Justice Elena Kagan once turned down a care package of bagels and lox, per Forward. She was concerned she could be violating the court's ethics rules for accepting gifts, friends said. Meanwhile, Supreme Court Justice Clarence Thomas was accepting lavish holidays from a GOP megadonor. And unlike the rest of the federal judiciary, the Supreme Court is not bound by a code of conduct. The Supreme Court did not immediately respond to Insider's request for comment.

☆ After hitting new heights during the pandemic, PayPal has struggled in the market. Here's what's killing the company's stock growth
▼ + stars: | 2023-05-08 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

While most companies struggled during the pandemic, digital-payment companies including PayPal thrived as consumers were forced to depend more on online transactions. But as pandemic restrictions began to ease, PayPal's stock growth started to fall off. And while PayPal's total payment volume has seen continuous gains, its stock growth has slowed, with rising competition in the digital-payment space being a major contributing factor. "There's a positive and a negative to the fact that PayPal is so focused on e-commerce," said Brett Horn, an analyst at Morningstar. Watch the video to find out more about how Paypal makes its money and why it has been struggling in recent years.

☆ EBay forecasts upbeat revenue as sneakers, refurbished items drive growth
▼ + stars: | 2023-04-26 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

The upbeat results soothed investor sentiment, which was hit after eBay earlier this year said that demand weakness will persist in the first half of 2023. EBay is expanding listings under refurbished electronics, luxury bags and watches, and the collectibles category. San Jose, California-based eBay now expects June-quarter revenue in the range $2.47 billion to $2.54 billion, higher than analysts' projection of $2.43 billion, according to Refinitiv. Revenue in the most recent March quarter grew 1% to $2.51 billion, also beating analysts' estimate of $2.48 billion. EBay's shares have gained 4.6% so far this year, compared with a 13.3% rise in the tech-heavy Nasdaq index (.IXIC).

☆ 2023 layoff tracker: The latest on which companies have announced job cuts
▼ + stars: | 2023-04-25 | by ( Jennifer Korn | ) edition.cnn.com time to read: +20 min

New York CNN —BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. With 11,000 job cuts announced in November and the 10,000 announced in March, Meta’s headcount will fall to around 66,000 — a total reduction of about 25%. The company announced in January that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. IndeedJob listing website Indeed.com announced cuts of approximately 2,200 employees, representing almost 15% of its total workforce, the company said in March. The cuts come after the company announced several rounds of job cuts throughout the pandemic due to falling demand, followed by rapid hiring last year.

☆ Amazon must face California lawsuit claiming its prices are too high
▼ + stars: | 2023-03-31 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: An Amazon worker loads a trolley from a Prime delivery van in Los Angeles, California, U.S. February 25, 2019. REUTERS/Chris Helgren(Reuters) - A California judge has rejected Amazon.com Inc’s bid to dismiss the state’s antitrust lawsuit accusing the online retailer of illegally forcing merchants to accept policies that result in artificially high prices for consumers. California sufficiently alleged that Amazon’s policies “have had the anticompetitive effect of raising prices on competing retail marketplaces as well as on third-party sellers’ own websites,” Judge Ethan Schulman in San Francisco Superior Court wrote. Amazon did not immediately respond to a request for comment on Friday. Washington, D.C. is appealing a judge’s March 2022 dismissal of a similar lawsuit there.

March 31 (Reuters) - A judge has rejected Amazon.com Inc's (AMZN.O) bid to dismiss California's antitrust lawsuit accusing the online retailer of illegally forcing merchants to accept policies that cause consumers to pay artificially high prices. California Attorney General Rob Bonta had sued Seattle-based Amazon last September. The lawsuit sought to block Amazon from enforcing policies that bar the sale of goods more cheaply elsewhere, and to pay damages and penalties. Washington, D.C. Attorney General Karl Racine is appealing a judge's March 2022 dismissal of his similar lawsuit against Amazon. The case is California v Amazon.com Inc, Superior Court of California, San Francisco County, No.

With markets increasingly volatile, BMO Capital Markets thinks investors should turn to a two-way strategy that provide returns and protection at the same time. The S & P 500 gained more than 1% last week, but it wasn't a smooth ride. Given this uncertain backdrop, BMO suggests relying on a dual-tiered approach encompassing growth at a reasonable price strategy, or "GARP," and a dividend growth barbell. The firm compiled a list of outperform-rated stocks that fit into the GARP or dividend growth themes. CF Industries and ConocoPhillips were also highlighted by BMO under their dividend growth strategy.

☆ People are right to revise their opinions in some AT1s and 'CoCo' bonds: Financial services firm
▼ + stars: | 2023-03-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople are right to revise their opinions in some AT1s and 'CoCo' bonds: Financial services firmMichael Ashley Schulman of Running Point Capital explains why it has not been active in AT1s and "CoCo" bonds.

FINMA, the Swiss regulator, said the decision would bolster the bank's capital. Engineered in the wake of the global financial crisis, AT1 bonds are a form of junior debt that counts towards banks' regulatory capital. "It's stunning and hard to understand how they can reverse the hierarchy between AT1 holders and shareholders," said Jerome Legras, head of research at Axiom Alternative Investments, an investor in Credit Suisse's AT1 debt. Credit Suisse's AT1 debt had rallied earlier on Sunday amid reports that shareholders would receive something in a deal with UBS, raising hopes that bondholders would be protected. The move by the Swiss regulator could make it harder for other lenders to raise new AT1 debt, investors said.

☆ ‘Oscar Wars’ Review: Hollywood’s Biggest Night
▼ + stars: | 2023-03-10 | by ( Marc Weingarten | ) www.wsj.com time to read: +1 min

Cecil B. DeMille holds his Best Picture Oscar for “The Greatest Show on Earth” (1952). Hollywood is a nest of vipers whose public figures tend to be narcissists who behave like entitled children. Would American society have it any other way? After all, if the dream factory functioned like any other business, there would be no Academy Awards ceremony, the most glamorous spectacle of celebrity self-love ever devised. There’s a good reason why the Oscar statuette is gold; there are no silver medals here, just winners and losers.

☆ Stocks making the biggest moves midday: General Electric, Silvergate Capital, Peloton, Etsy and more
▼ + stars: | 2023-03-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Silvergate Capital — The crypto lender's stock sank 23% after the company announced it will wind down operations and liquidate Silvergate Bank. Revenue came in at $150.2 million, topping the $145 million expected. CEO Dustin Moskovitz also said he was buying 30 million shares. Revenue came in at $103.5 million compared to the $101.7 million expected. Adjusted earnings per share came in 1 cent ahead of estimates at 18 cents.

☆ PayPal CFO Blake Jorgensen Steps Down
▼ + stars: | 2023-03-07 | by ( Sabela Ojea | ) www.wsj.com time to read: +1 min

PayPal Holdings Inc. Chief Financial Officer Blake Jorgensen has stepped down after a few months in the role. Gabrielle Rabinovitch will remain as PayPal’s acting CFO, the company said Tuesday. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEWMr. Jorgensen, who took a medical leave of absence in September after being appointed PayPal’s CFO in August, will continue working with the digital payments giant as a senior adviser through Sept. 15, the company said. He joined PayPal to succeed John Rainey, who left the company to take the CFO role at Walmart Inc.

☆ As PayPal searches for a successor for its CEO, these 6 high-profile executives could be prime candidates to run the payments giant
▼ + stars: | 2023-03-01 | by ( Paige Hagy | Bianca Chan | ) www.businessinsider.com time to read: +2 min

Payments giant PayPal is in search of a new CEO. On February 9, PayPal's president and CEO, Dan Schulman, announced his plans to retire at the end of the year. The search for the new CEO comes at a critical time for the company, which has been on a cost-cutting crusade. In August 2022, PayPal estimated that savings from cost cutting would reach $1.3 billion in 2023, on the back of 2022 savings to the tune of $900 million. Insider spoke with seven analysts, VCs, and industry insiders to discuss who they think would be prime candidates to succeed Schulman.

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