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☆ An unexpected force may be speeding up glacier melt across the globe: colorful algae blooms
▼ + stars: | 2022-12-10 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

Now he sees bright pink and red algae blooms every year. Dr. Matt DaveyScientists like Maréchal think these algae blooms are getting larger and more frequent as rising global temperatures melt glaciers worldwide. Glacier algae seems to be booming, but scientists have a lot to learnResearcher Matt Davey samples snow algae at Lagoon Island, Antarctica. Ice algae and snow algae are different types of microorganisms, and different fields of study, but they both affect glaciers. A strip of "blood snow" filled with red algae cuts across a dark bloom of purple algae in Greenland.

☆ American and British Airways just opened brand new joint luxury lounges at New York's biggest airport as they grow their partnership — see inside
▼ + stars: | 2022-12-08 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

But, to better streamline their operation, British Airways has moved into Terminal 8, and the pair are now officially "roommates," as American CEO Robert Isom put it at a press conference in November. (L-R): Iberia CEO Javier Sánchez-Prieto, British Airways CEO Sean Doyle, American Airlines CEO Robert Isom, Port Authority Executive Director Richard Cotton, Congressman Gregory Meeks (D-NY), and Queen Borough President Donovan Richards Jr. cut the ribbon to the new Terminal 8 at JFK on Tuesday, November 29. Taylor Rains/Insider

☆ Disney Needs to Do More With Less on Streaming
▼ + stars: | 2022-12-05 | by ( Dan Gallagher | ) www.wsj.com time to read: +1 min

But those moves will prove easy compared with the challenges he faces with Walt Disney ‘s streaming business, where he must find a way to make do with less. Two weeks into Mr. Iger’s return to the Mouse House’s corner office, investors remain optimistic. As of Friday’s close, Disney ‘s shares are up 8% since the Nov. 20 announcement—more than double the S&P 500’s gains in that time. The fact that Mr. Chapek had McKinsey consultants running around to push those changes didn’t seem to help his case internally. At the end of the day, even Chief Financial Officer Christine McCarthy turned on him, according to The Wall Street Journal’s reporting.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Tesla, Netflix, Coinbase, Costco, Etsy & more
▼ + stars: | 2022-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan reiterates Apple as overweight JPMorgan said Apple's iPhone supply chain challenges appear to be moderating. JPMorgan reiterates Netflix as overweight JPMorgan said it sees a "heavily backend-weighted quarter" for Netflix. Morgan Stanley initiates Marriott as overweight Morgan Stanley said it likes how the hotel chain has transformed its business and that it sees a "further re-rating." Jefferies reiterates Amazon and Etsy as buy Jefferies said Amazon and Etsy will be winners this holiday shopping season. Morgan Stanley downgrades Silvergate to underweight from equal weight Morgan Stanley said in its downgrade of the crypto bank that it sees too many headwinds due to the FTX collapse. "

☆ Delta pilots would get more than 30% in pay raises under new contract deal
▼ + stars: | 2022-12-03 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Delta Air Lines and its pilots' union have reached a preliminary agreement for raises topping 30% over four years, a milestone deal that could sharply drive up aviators' pay across the industry. Delta pilots voted in October to authorize a strike if a deal wasn't reached, while pilots at several airlines have picketed this year demanding contract improvements. Delta and the union were edging toward a deal in mid-November, CNBC reported. It also includes a one-time payment of 4% of 2020 and 2021 pay each, plus 14% of 2022 pay. The Delta agreement said pay rates will exceed United's and American's pay by at least 1% over the course of the agreement, which still needs union and pilot approval.

☆ An uphill battle could await activist Trian as the firm snaps up a stake in Disney
▼ + stars: | 2022-12-03 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Trian calls itself a "constructivist," implying a more friendly activist investor. Trian, like most activist investors, intends to be friendly and always starts off that way, and then it is up to the company to respond. The firm is an activist investor, plain and simple. On Nov. 21, The Wall Street Journal reported that Trian Fund Management took an approximately $800 million stake in Disney. In this situation, Trian seems to be looking for a board seat and is urging Disney to make operational improvements and reduce costs.

LOS ANGELES—Walt Disney Co. was working with consulting firm McKinsey & Co. in recent months on an effort to centralize control of major spending decisions, triggering an uproar from top creative executives at the entertainment giant, according to people familiar with the matter. Discussions regarding the plan were under way in the weeks leading up to Nov. 20, when Disney’s board of directors fired Bob Chapek as chief executive and replaced him with his predecessor, Robert Iger .

☆ Bob Iger Is Back at Disney to Fix His One Big Failure: Succession
▼ + stars: | 2022-12-01 | by ( Ben Cohen | ) www.wsj.com time to read: 1 min

The most recent Emmy winners for best drama were TV shows about the same irresistible premise: Succession is what binds “Game of Thrones,” “The Crown” and, of course, “Succession.” It’s now the subject of another Hollywood saga, and this one stars neither the royals nor the Roys. The latest epic tale began when Disney made the surprising move to lure Robert Iger out of retirement as chief executive last week and give Mr. Iger two years to help find the next Mr. Iger.

☆ Disney CEO Robert Iger at Town Hall Vows to Focus on Creativity
▼ + stars: | 2022-11-28 | by ( Joe Flint | Robbie Whelan | ) www.wsj.com time to read: 1 min

Walt Disney Co.’s Chief Executive Robert Iger told employees in a companywide town hall meeting that he will give priority to creativity and that he will chase profitability over growing subscriber numbers at Disney’s streaming services. The town hall is Mr. Iger’s first since he was reinstated to the top job about one week ago after the board of directors ousted Bob Chapek . Mr. Iger, who was Disney’s CEO from 2005 to 2020, was met with applause when he was introduced at the Monday town hall and he responded by saying he thought he might cry.

☆ Disney CEO Robert Iger at Town Hall Vows to Focus on Creativity, Streaming Profitability
▼ + stars: | 2022-11-28 | by ( Joe Flint | Robbie Whelan | ) www.wsj.com time to read: 1 min

Walt Disney Co.’s Chief Executive Robert Iger told employees in a companywide town hall meeting that he will empower Disney’s creative teams and emphasize profitability over growing subscriber numbers at the company’s streaming serviceThe town hall is Mr. Iger’s first since he was reinstated to the top job about one week ago after the board of directors ousted Bob Chapek . Mr. Iger, who was Disney’s CEO from 2005 to 2020, was met with applause when he was introduced at the Monday town hall and he responded by saying he thought he might cry.

☆ Disney’s Robert Iger Faces Troubled Animation Market as ‘Strange World’ Bombs
▼ + stars: | 2022-11-27 | by ( Erich Schwartzel | ) 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/disneys-robert-iger-faces-animation-troubles-as-strange-world-bombs-11669582752

Over a dozen current and former employees told Insider's Eugene Kim that the division is in crisis — and the mounting losses and massive cuts underscore the swift downfall of Alexa. Go inside Amazon's Alexa unit. Jerod Harris/Getty ImagesWalt Disney stunned Hollywood this week by reinstating Bob Iger as its chief executive, and company insiders told us that his return to the throne came together in a matter of days. Getty ImagesTwitter's remaining employees are now expected to keep its CEO Elon Musk up to date on everything they work on each week. Responding to a tweet citing correspondent Kali Hays' report on the leaked email, Musk said the decision was "not unreasonable."

☆ The Disney CFO Who Raised Concerns About Bob Chapek Has Respect on the Street
▼ + stars: | 2022-11-25 | by ( Nina Trentmann | Mark Maurer | ) www.wsj.com time to read: +6 min

Christine McCarthy, Walt Disney Co. ’s longtime finance chief, took an unusual step when she expressed a lack of confidence in the chief executive to directors of the entertainment giant. But Ms. McCarthy had raised concerns to Disney directors, The Wall Street Journal reported earlier this week. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Following the leadership shake-up, Disney faces a challenge to regain trust from the street and Ms. McCarthy needs to realign with her old and new chief executive Mr. Iger, analysts said. Age 67, Ms. McCarthy is likely to stay on while Mr. Iger reviews Disney’s strategy and searches for another successor to himself, analysts said.

☆ Robert Iger Is Back at Disney. See How Other ‘Boomerang’ CEOs Have Fared
▼ + stars: | 2022-11-23 | by ( Alyssa Lukpat | Emily Glazer | ) 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/robert-iger-is-back-at-disney-see-how-other-boomerang-ceos-have-fared-11669158779

Disney’s Robert Iger Loomed Over Bob Chapek After Ceding CEO Role, Creating Tensions Soon after he took the top job in 2020, Chapek was at odds with Iger and complained to deputies he had been undermined from the startLast year, Disney’s then-CEO Bob Chapek, in blue shirt, and then-Executive Chairman Robert Iger appeared at a Walt Disney World Resort event Florida. The two men had clashed over layoffs at the theme parks early in the pandemic. Gerardo Mora/Getty Images

☆ Robert Iger Returns to Disney Facing Radically Different Streaming Landscape
▼ + stars: | 2022-11-23 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Walt Disney Co. has brought back the CEO responsible for its pivot to streaming. As he returns, Robert Iger has to navigate a competitive landscape that is far more challenging than when he left less than three years ago. Investors say Mr. Iger is facing the same predicament as other leaders of large entertainment conglomerates: finding ways to grow and improve the streaming unit’s profitability without cannibalizing its lucrative businesses of creating content for television and movie theaters. Disney, as well as peers including Warner Bros. Discovery Inc., must now carefully decide where and how best to release, sell or license its content.

☆ Corporate America is bracing for a rise in activist investing. Meet the 13 lawyers on speed-dial when companies and investors fight for boardroom control.
▼ + stars: | 2022-11-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.

☆ Bob Iger isn't the only CEO who was asked to come back. Here are 5 men who returned to run their former companies.
▼ + stars: | 2022-11-22 | by ( Alexandra York | ) www.businessinsider.com time to read: +2 min

Bob Iger's return isn't unusual. Here are four other boomerang CEOs who've returned to the companies they once ran. Iger acted as Disney's CEO from 2015 to 2020. In the most recent quarter, the streaming service lost $1.47 billion, which is more than double the loss from 2021. Iger is one of a handful of boomerang CEOs who've returned to the companies they once ran.

☆ Robert Iger’s Biggest Moves That Reshaped Disney: From Star Wars to Streaming
▼ + stars: | 2022-11-22 | by ( Wsj Staff | ) www.wsj.com time to read: 1 min

Robert Iger served as Disney’s CEO between 2005 and 2020 then stayed on as executive chairman, overseeing the company's creative pipeline until his contract expired in 2021. During his tenure, he oversaw a series of acquisitions and strategies that transformed the entertainment company into a Hollywood powerhouse.

☆ Disney’s Robert Iger May Find Second Time Isn’t Quite the Charm
▼ + stars: | 2022-11-21 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Robert Iger just got a $12 billion vote of confidence. He will need all of it. That is how much Disney ’s market value jumped Monday morning on the surprise news that Mr. Iger is returning to the Magic Kingdom’s throne. In a statement Sunday night, the company’s board said he will take back the chief executive officer role for two years “to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.” Bob Chapek , Mr. Iger’s handpicked successor, was unceremoniously escorted from the stage without so much as a quote in the press release.

☆ Disney Shares Rally as Former CEO Robert Iger Returns
▼ + stars: | 2022-11-21 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Walt Disney Co. shares rallied following the unexpected return of Robert Iger as chief executive in a move analysts say adds a familiar hand to shake things up after a rocky stretch. Disney’s board of directors on Sunday night replaced CEO Bob Chapek with Mr. Iger, the company’s former chairman and CEO who left the company at the end of last year. The surprise switch came as Burbank, Calif.-based Disney faces numerous challenges, including weaker-than-expected financial results in the fourth quarter centered on its streaming shortfalls.

Behind the surprise change in leadership at Walt Disney Co. on Sunday was festering discontent among investors and top executives including Chief Financial Officer Christine McCarthy , who in recent weeks had expressed to directors her lack of confidence in Chief Executive Bob Chapek , according to people familiar with the matter. Disney executives and investors had been complaining for months to the prior CEO, Robert Iger , about the direction of the company under Mr. Chapek, according to people familiar with the matter. Mr. Iger advised some of these executives to take their concerns to the company’s board, some people familiar with the matter said.

☆ Robert Iger’s Return to Disney Has Many Fans Overjoyed
▼ + stars: | 2022-11-21 | by ( Jacob Passy | ) www.wsj.com time to read: 1 min

Disney said Robert Iger would stay in the chief-executive role for two years before another CEO took over. To many members of Disney ‘s ardent fan base, Robert Iger ‘s return to the company’s helm is a storybook ending to a drawn-out corporate saga. Fans of the company’s theme parks and film franchises flocked to social media to celebrate the news when the Walt Disney Co. announced Sunday that Mr. Iger would return to the chief executive role he held for roughly 15 years. Disney fans scrutinize not only changes to its entertainment offerings, but also its boardroom moves and quarterly earnings.

Bob Chapek’s position at the top of Disney had been shaky for months, according to people familiar with the matter. Behind the surprise change in leadership at Walt Disney Co. on Sunday was festering discontent among investors and top executives including chief financial officer Christine McCarthy , who in recent weeks had expressed to directors her lack of confidence in chief executive Bob Chapek , according to people familiar with the matter. Disney executives and investors had been complaining for months to the prior CEO, Robert Iger , about the direction of the company under Mr. Chapek, according to people familiar with the matter. Mr. Iger advised some of these executives to take their concerns to the company’s board, some people familiar with the matter said.

Walt Disney Co.’s board of directors on Sunday night replaced Chief Executive Bob Chapek with Robert Iger , the company’s former chairman and CEO who left the company at the end of last year, according to a company announcement. “The board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period,” said Susan Arnold , chairman of Disney’s board, in a statement.

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