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☆ Don’t think of quitting as failure, says bestselling author: Highly successful people know when to give up
▼ + stars: | 2023-06-11 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Highly successful people often know exactly when to give up, according to bestselling author and former professional poker player Annie Duke. Sometimes, you see something that other people don't see," Duke, a decision-making consultant, recently told the Harvard Business Review's "On Strategy" podcast. "But sometimes, when the world is yelling at you to stop and you ignore them, that's no longer a virtue. People's fear of quitting stems from two different cognitive biases, Duke added: sunk-cost fallacy and "opportunity cost neglect." DON'T MISS: Want to be smarter and more successful with your money, work & life?

Persons: isn't, Annie Duke, Duke, it's, Simply, Jeff Bezos, Bezos, Warren Buffett Organizations: Harvard, Behavior, Organization, Amazon, Studios, Twitter

☆ Who is Hafize Gaye Erkan, Turkey's first female central bank chief?
▼ + stars: | 2023-06-09 | by ( Karin Strohecker | ) www.reuters.com time to read: +2 min

LONDON, June 9 (Reuters) - Turkey's new central bank governor Hafize Gaye Erkan faces the tough task of alleviating a bruising cost-of-living crisis while hoping to restore investor confidence at home and abroad after years of unorthodox policymaking. Appointed on Friday, the 43-year old is the first woman at the helm of the country's central bank, taking over from Sahap Kavcioglu, who spearheaded President Tayyip Erdogan's rate-cutting drive against a backdrop of soaring inflation. Her new role makes her one of only around a dozen women currently serving as central bank governors around the world, including the likes of ECB President Christine Lagarde, Russian Central Bank Governor Elvira Nabiullina and Serbia's Jorgovanka Tabakovic. Having spent all of her professional life outside Turkey, Erkan has no formal central banking experience, making her leanings for monetary policy unclear. Kathryn Wylde, president and CEO of Partnership for New York City, a nonprofit organization where Erkan once served as a board director, says Erkan was seen as "tough, smart, and effective."

Persons: Hafize Gaye Erkan, Sahap Kavcioglu, Tayyip Erdogan's, Christine Lagarde, Russian Central Bank Governor Elvira Nabiullina, Erkan, Goldman Sachs, Mark Carney, Mario Draghi, William Dudley, Goldman, Marsh McLennan, Kathryn Wylde, Wylde, Karin Strohecker, Jonathan Spicer, Hugh Lawson Organizations: Russian Central Bank Governor, Bogazici University, Harvard Business School's, Management, Research, Financial Engineering, Princeton University, Bank of Canada, Bank of England, New York Fed, First Republic Bank, Banking, Finance, New, Thomson Locations: Sahap, Istanbul, Turkey, New York City

Climate investors aren’t expecting a triumphant repeat of what happened two years ago, when Engine No. 1, a San Francisco-based activist hedge fund, stunned the corporate world by landing three of its eco-conscious nominees on Exxon’s board. Mark van Baal, founder of the activist shareholder group Follow This, was more blunt. The hedge fund, he said, was “the biggest disappointment in the fight against climate change.”Engine No. But critics say that green investments are still a tiny percentage of Exxon’s spending, and that the company remains committed to fossil fuels.

Persons: aren’t, DealBook, Vivienne Walt, ”, Mark Kramer, “, Danielle Fugere, Mark van Baal Organizations: Exxon, Legal, General Investment Management, Harvard Business School Locations: San Francisco, Berkeley, Calif, Texas, New Mexico

☆ None of the Roy children deserve to succeed Logan but I'm hoping it's Shiv
▼ + stars: | 2023-05-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

There are really no good choices for who should succeed Logan Roy in "Succession." She also fakes authenticity — a power move, one expert told Insider. The show revolves around the deeply dysfunctional Roy family and the jockeying to succeed Logan Roy, the recently deceased patriarch played by Brian Cox, as head of the family media empire, Waystar Royco, loosely based on Fox News and News Corp. "Shiv seems to be a person who gets relationships," Gino told Insider. The media baron and inspiration for Logan Roy, Rupert Murdoch, the head of News Corp, also has stirred speculation over which of his children might succeed him at the top of the home of Fox News.

☆ Your Job Search Sucks Right Now Due to AI Hiring, Ghost Job Listings
▼ + stars: | 2023-05-22 | by ( Adrienne Matei | ) www.businessinsider.com time to read: +13 min

Finding a job right now isn't only tough, it's deeply weird. On a macro level, ghost-job postings contribute to a skewed sense of how many opportunities are really out there for US job seekers right now. Job platforms — including LinkedIn, ZipRecruiter, Indeed, and Monster — also use language-processing AI tools to filter applicants. And now, generative AI tools like ChatGPT are contributing to job loss. Suddenly, knowing how to work with AI tools and resources is an important edge for job seekers to have.

☆ Why job searches suck right now
▼ + stars: | 2023-05-22 | by ( Adrienne Matei | ) www.businessinsider.com time to read: +13 min

Finding a job right now isn't only tough, it's deeply weird. Individually, ghost-job postings can erode both trust in the job market and the morale of job seekers who are applying to hundreds of positions and never hearing back. On a macro level, ghost-job postings contribute to a skewed sense of how many opportunities are really out there for US job seekers right now. Job platforms — including LinkedIn, ZipRecruiter, Indeed, and Monster — also use language-processing AI tools to filter applicants. Suddenly, knowing how to work with AI tools and resources is an important edge for job seekers to have.

☆ Here are the 2 very different execs in contention to be CEO of Morgan Stanley
▼ + stars: | 2023-05-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

James Gorman announced that he will step down as Morgan Stanley CEO in the next year. The three executives in contention are co-presidents Ted Pick and Andy Saperstein, as well as Dan Simkowitz, head of investment management at Morgan Stanley. Morgan Stanley declined to comment. But the long-time Morgan Stanley executives have distinct leadership styles and backgrounds. Do you work for Morgan Stanley?

☆ Cancel That Brainstorm. There’s a Better Way to Spur Good Ideas.
▼ + stars: | 2023-05-18 | by ( Callum Borchers | ) www.wsj.com time to read: +5 min

The value of gathering to swap loosely formed thoughts is highly suspect, despite being a major reason many companies want workers back in offices. “You do not get your best ideas out of these freewheeling brainstorming sessions,” says Sheena Iyengar, a professor at Columbia Business School. He discovered that his 16-person team, now fully remote, thrives when people develop ideas on their own and can share them in writing. An Amazon spokesman adds that the company’s brainstorming sessions are sometimes unstructured but often begin with colleagues sharing well-researched memos, reducing time spent on ill-conceived ideas. Oh, he’s also noticed that the duds tend to come first, so to leave time for the good stuff, he prescribes two-hour meetings.

☆ Office Brainstorms Are a Waste of Time
▼ + stars: | 2023-05-18 | by ( Callum Borchers | ) www.wsj.com time to read: +5 min

Office wardrobe malfunctions? The value of gathering to swap loosely formed thoughts is highly suspect, despite being a major reason many companies want workers back in offices. “You do not get your best ideas out of these freewheeling brainstorming sessions,” says Sheena Iyengar, a professor at Columbia Business School. Mostly, though, grumblers have accepted such meetings as an inescapable office reality, like elevator Muzak and bad coffee. An Amazon spokesman adds that the company’s brainstorming sessions are sometimes unstructured but often begin with colleagues sharing well-researched memos, reducing time spent on ill-conceived ideas.

☆ Bill Oesterle, Co-Founder of Angie’s List, Dies at 57
▼ + stars: | 2023-05-14 | by ( Daniel E. Slotnik | ) www.nytimes.com time to read: +1 min

In 1999, with the dot-com boom near its apogee, Angie’s List moved online. The site, which still charged a subscription fee and also made money through advertising, rated different businesses from A to F in categories like punctuality and professionalism. It also allowed users to write signed reviews about different businesses in their area, which Angie’s List hoped would make reviews fairer and more accurate. Mr. Oesterle became chief executive in 1999, when Ms. Hicks left to attend Harvard Business School. In 2004 Mr. Oesterle stepped away to run Mr. Daniels’s campaign for governor.

☆ Why CEOs are changing directions faster than ever
▼ + stars: | 2023-05-11 | by ( Rebecca Knight | Tim Paradis | ) www.businessinsider.com time to read: +8 min

CEOs are changing their corporate strategies more frequently for many reasons. Some CEOs didn't do the necessary medium- and long-term planning when they made their original decisions, and now they're being forced to backtrack. A new, lightning-fast pace of businessThe rapidly changing business environment makes one thing clear: For CEOs, the day-to-day marathon of running a company feels much more like a sprint. The average compensation in 2021 for CEOs of the top US companies was 399 times that of the average worker. Changing a strategy is one thing, but how a CEO communicates that change is another — particularly because these pivots are likely to happen more frequently.

☆ 6 quick calendar tweaks that will help you get more done and optimize your daily routine
▼ + stars: | 2023-05-11 | by ( Tugba Yanaz | ) www.businessinsider.com time to read: +9 min

In my coaching and consulting practice, I work with leaders to create healthy routines to optimize their performance and well-being. Not urgent & important; schedule — You will want to schedule tasks that are important but less urgent for a later date. Urgent & not important; delegate — Assign urgent but less important tasks to others on your team. All your priorities must be reflected in your calendar, personal and professional. It's all about establishing a healthy relationship between your work and personal life and valuing both aspects.

☆ American CEOs are 'failing' their workers right now, says Harvard expert: 'We're in a crisis of trust'
▼ + stars: | 2023-05-09 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

"We're in a crisis of trust in leadership," Sandra Sucher, a Harvard Business School professor who studies layoffs and trust, tells CNBC Make It. "Leaders of all kinds ... are failing some of the basic expectations that people have for how they should be treated." People just don't want to be led astray or lied to," says Kelly, 28, the CEO and founder of fitness content startup Curastory. Tiffany Kelly, CEO and founder of fitness content startup Curastory. The past two years revealed the leaders who are truly focused on the well-being of their workers, versus the ones who are focused on the bottom line.

☆ Mercedes car "a nasty piece of work" fumes Wolff
▼ + stars: | 2023-05-07 | by ( Steve Keating | ) www.reuters.com time to read: +2 min

MIAMI, May 6 (Reuters) - Mercedes team principal Toto Wolff slammed the Formula One outfit's car as "a nasty piece of work" on Saturday after a frustrating qualifying effort for the Miami Grand Prix left the Austrian scratching his head and at times speechless. But it has been all downhill from there with Russell qualifying sixth for Sunday's race and Hamilton 13th, his worst ever qualifying at any circuit in the United States. "It's the lack of comprehension of what it is, that makes this car such a nasty piece of work. "I think that the car is not a nice car, not a good car and I wouldn't even be able to point out fundamentally it's just...," paused Wolff searching for the right words. "That's worse than I thought because we have 20 months on since we were last time in Miami and the car is just marginally better," said Wolff.

☆ Analysis: Icahn's mark-up of meat packager extraordinary but possible, experts say
▼ + stars: | 2023-05-05 | by ( Koh Gui Qing | ) www.reuters.com time to read: +4 min

Hindenburg said Icahn Enterprises LP (IEP) (IEP.O) valued a meat packing company in which it owns a 90% stake three times over its market value. IEP cited "the lack of material trading volume" in Viskase's stock as grounds for the valuation mark-up in the filing. Viskase's shares are traded in the over-the-counter market rather than a major exchange such as Nasdaq or the New York Stock Exchange. On Thursday, IEP said after the stock market closed that it would preserve its dividend at $2 per unit for the first quarter. IEP's stock rose 10% in afterhours trading on the announcement.

☆ Tom Hanks used a popular productivity hack to write his first novel—here's how it works
▼ + stars: | 2023-05-04 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

With an Oscar-winning career spanning more than 80 films over four decades, Tom Hanks knows a thing or two about making movies. But when it came time for the 66-year-old to sit down and write his first novel, Hanks needed help. Despite employing the productivity boosting technique while writing his book, Hanks described his desire to write as nothing more than the pursuit of another creative outlet. "I just do writing," Hanks said. Hanks' novel will be released on May 9.

☆ When Barbara Corcoran sold her company for $66 million, she didn't know how much it was worth—here's how she negotiated anyway
▼ + stars: | 2023-05-02 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Nearly three decades later, she flipped it to brokerage firm NRT for $66 million. The large dollar figure wasn't the result of industry research or market valuation, Corcoran said: Rather, it was her "lucky number." Corcoran wanted to sell her company because she'd achieved her goal: The Corcoran Group was the largest brokerage in New York, she said. It's unclear whether Corcoran could have gotten more for her company, given its then-status as New York's top brokerage. The Corcoran Group's primary competitor at the time, Douglas Elliman, sold for $75 million four years prior, The New York Times noted.

☆ What Bed Bath & Beyond, Toys ‘R’ Us and RadioShack have in common
▼ + stars: | 2023-04-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Staples is “a classic ‘category killer,’ like Toys R Us,” Mitt Romney, then Bain & Co.’s managing general partner, said in 1989. Another category killer fell this week, when Bed Bath & Beyond filed for bankruptcy. Once the go-to stop for everything in customers’ homes, Bed Bath & Beyond was brought down by shopping changes, competition and its own missteps. Founded in 1971 as Bed ‘n Bath as a small linen and bath store, the company changed its name to Bed Bath & Beyond in 1987 to reflect its expanded merchandise selection and built larger superstores. It’s somewhat ironic that there is now nostalgia for Bed Bath & Beyond and other once dominant chains that drove mom-and-pops out of business.

☆ Consultancies are coming off a pandemic boom. Are they still worth hiring?
▼ + stars: | 2023-04-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +9 min

Management consultancies helped design vaccination programs during the pandemic and are currently providing advice on how to rescue one of the world’s biggest banks. The $230 billion management consulting industry is a broad church: it includes companies offering everything from project management expertise to designing new organizational structures. Many big firms — think EY and KPMG — also conduct audits and advise on their clients’ tax issues, though these services are generally seen as distinct from their consulting work. In The Big Con, published in February, prize-winning economist Mariana Mazzucato and her co-author Rosie Collington argue that management consultancies “infantilize” governments by keeping them dependent on their services. Nearly 80% of firms surveyed globally have told the think-tank that consultants’ work is either of high or very high quality, she noted.

☆ Central Banker to Britons: You’re Worse Off. Accept It.
▼ + stars: | 2023-04-26 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

The annual rate of inflation has been stubbornly above 10 percent since last summer, much higher than in the United States and Western Europe. In response, the central bank has raised interest rates to 4.25 percent, the highest since 2008, with the effect of higher rates on mortgages and other loans. Food inflation is about 19 percent, the highest annual pace of price increases in more than 45 years. “You need to accept you are poorer!” The Daily Mail splashed in large letters across its front page on Wednesday, adding that Mr. Pill joined the Bank of England less than two years ago from Harvard Business School.

☆ Tim Cook uses a 1-sentence mantra to process criticism—without it, he 'wouldn't be able to function'
▼ + stars: | 2023-04-20 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

When Cook took the helm of the tech giant in August 2011, he faced widespread skepticism that he could effectively fill Steve Jobs' shoes, he recently told GQ. The criticism didn't stop there — Cook has since faced backlash for his pay package, Apple's return to work policy and his idea of innovation. Cook even faced criticism from Jobs himself, according to Walter Isaacson's 2011 biography "Steve Jobs." Cook himself has a net worth of $1.9 billion, according to Forbes — much of that due to Apple's financial success. I think he was a once-in-a-hundred-years kind of individual, an original by any stretch of the imagination," Cook told GQ.

☆ I commute between Boston and New York City up to three times a week on a seaplane. Here's why it beats taking the train or flying commercial.
▼ + stars: | 2023-04-19 | by ( Hannah Towey | ) www.businessinsider.com time to read: +9 min

I've been using Tailwind Air, a seaplane shuttle service, to commute between Boston and New York for almost two years now. It's the most efficient and productive way to commute between the two citiesInsider aviation reporter Thomas Pallini flying on a Tailwind Air seaplane in 2021. If you fly frequently, the cost difference isn't that huge compared to commercialFlying on a Tailwind Air seaplane. For the long-term, it's not a sustainable commuteFlying on a Tailwind Air seaplane. I think short-hop travel will look totally different in 50 yearsFlying on a Tailwind Air seaplane.

☆ The rise and fall of Allbirds: How Silicon Valley's favorite sneaker lost its edge — and how its plan to save itself includes removing a key part of your shoe
▼ + stars: | 2023-04-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: 1 min

In 2016, Allbirds received B Corp certification, a designation given to companies that work to advance environmental and social causes, as well as shareholder concerns. AllbirdsFor Allbirds, the designation codified, "how we take into account the impact our actions have on all of our stakeholders, including the environment, our flock of employees, communities, consumers, and investors." Sources: Harvard Business Review, Allbirds S-1

☆ If you're a new hire, you're more likely to be laid off—a Harvard expert's No. 1 way to rebound
▼ + stars: | 2023-04-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Amid the slew of recent layoff headlines, a question lingers: when a company cuts jobs, who is first on the chopping block? According to new data from BambooHR, a human resources software company, 65% of HR professionals typically approach layoffs by eliminating newly hired workers first. The report surveyed over 1,500 employees and human resource professionals from December 19 to January 4. Overall, it found that employees believe that in a wave of job cuts, the likelihood of getting laid off is 62% for recent hires and 20% for longstanding employees. She says laid-off new hires need to be smart about how they get back into the job hunt.

SpaceX plans to launch its new Starship mega-rocket to orbit on Thursday, after a frozen valve stopped the first attempt. If Starship succeeds, it'll be the tallest, most powerful, and only fully reusable rocket to ever fly. SpaceX plans to attempt the launch and see what happens on Thursday, during a launch window from 8:28 a.m. to 9:30 a.m. Central Time. SpaceX founder and CEO Elon Musk, who estimates a 50-50 chance of success on Starship's first orbital launch. SpaceX/Handout via Reuters"A pressurant valve appears to be frozen, so unless it starts operating soon, no launch today," Musk tweeted.

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