Posts by Nicole Goodkind
Nicole Goodkind at Yahoo Finance 14 hrs ago
In today's world CEOs of major corporations are celebrities. Names like Mark Zuckerberg and Tim Cook grace the covers of both tabloids and business journals (their stories are sometimes even made into blockbusters-- typically written by Aaron Sorkin). It's easy to get sucked into their cult of personality and forget that they have an actual job to do.
That's partially why Sydney Finkelstein, the Steven Roth professor of management for the Tuck School of business at Dartmouth releases his list of the worst CEOs each year. The list comes out at a particularly pertinent time as American Apparel announces that it has finally ousted controversial CEO and founder Dov Charney.
So which CEOs did the worst job in 2014? Finkelstein joined Yahoo Finance to give some insight into the bottom five.
Dick Costolo, CEO, Twitter
Eddie Lampert, CEO, Sears Holdings
Phillip Clarke, CEO, Tesco
Dov Charney, CEO, American Apparel
Ricardo Espírito Santo Silva Salgado, CEO, Banco Espírito Santo
More from Yahoo Finance
Nicole Goodkind at Yahoo Finance 2 days ago
2015 might offer more. “I think the real discussion around Apple pay is about how Apple and its new offering can disrupt the industry,” says Nicole Sinclair, senior stock analyst at TheStreet.com. “Right now we’re not seeing a really big uptake on the consumer or business side but the potential there is strong.” Still, says Sinclair, people are starting to think about how this will affect companies in the industry. Bears believe that Visa (V) and Mastercard (MA) are all but dead and that they’ll lose out.
Nicole Goodkind at Yahoo Finance 5 days ago
News that Grumpy Cat’s owner, Tabatha Bundesen, has made millions of dollars from images of her pet went viral last week. Bundesen was able to quit her job at Red Lobster just days after pictures of her cat that suffers from dwarfism emerged online and has since produced two books, a movie and other products based on the cute feline.
While Grumpy Cat certainly lives a charmed life, it’s her owner, Bundesen, who is raking in the big bucks. That doesn't mean there aren't animals out there with their own money. Yahoo Finance compiled a list of the richest and independently wealthy animals.
1. Tommasino the cat, $12.4 million
Tommasino was a stray cat that wandered into the home of Italian property magnate Maria Assunta’s home. Assunta took in the black cat and according to her nurse, treated him like her own child.
“The old lady suffered from loneliness,” Stefania told the Telegraph, “She looked after that cat more than you’d look after a son.”
Stefania and Tommasino are currently living together just outside of Rome.
2. Gunther IV the German Shepard, $372 million
Nicole Goodkind at Yahoo Finance 5 days ago
The 114 th session of Congress begins on January 3 rd , 2015 and new tests await Republican leaders. House Speaker John Boehner (R-Ohio) and incoming Majority Leader Mitch McConnell (R-Kentucky) will face new challenges as they try to reach across the aisle and get bills passed in a Republican-led House and Senate.
The current session of Congress remains on track to become the least productive in modern history and currently has an approval rating of just 13%.
Greg Valliere, chief political strategist of Potomac Research Group, has hope that the next session will change the way Congress has been operating. He believes that they will be able to cooperate and get bills passed.
“There’s a chance of movement” on bills like corporate tax reform, he says. But “the bar is pretty low after this woeful last Congress. I think this new Congress will at least begin consideration of things like tax reform…I even think immigration reform could be on the table.”
Nicole Goodkind at Yahoo Finance 7 days ago
America doesn’t have royalty but it does have its fair share of dynastic families. From political power players like the Bushes, Clintons, and Kennedys, to the oldest of old money like the Rockefellers, Du Ponts and Astors – money and power have been passed down these bloodlines for hundreds of years.
Using Forbes’ America’s richest families list, Yahoo Finance compiled a list of five families whose accumulated, wealth, influence and longevity make them the American equivalent of the royal family.
Media Titans: The Hearst family
Worth: $35 billion
Wealth established: 1887
Source of wealth: Hearst Corporation
Like his father, William Randolph was involved in American politics—he was a member of Congress for two terms and ran for both mayor and governor of New York. William Randolph’s life is said to be the inspiration behind Orson Welles’ film "Citizen Kane"—his notorious home, Hearst Castle, was also the inspiration for Kane’s Xanadu.
The Hearsts remain in the publishing business—William Randolph Hearst Jr. won a Pulitzer Prize in 1956 for his international reporting and William R. Hearst III chairs Hearst Corporation today.
Nicole Goodkind at Yahoo Finance 8 days ago
British royalty met U.S. royalty at last night’s Brooklyn Nets vs. Cleveland Cavaliers basketball game in Brooklyn. Music super couple Jay-Z and Beyoncé walked across the court to introduce themselves to Prince William and Kate, the Duke and Duchess of Cambridge. Both couples are extremely famous and wealthy (Beyoncé and Jay-Z have nearly $1 billion in combined assets), but when it comes to how they earn their money the couples differ. For Beyoncé and Jay-Z things are pretty straightforward, they go on tour, release albums and endorse products. When it comes to Will and Kate, however, it’s complicated.
So how exactly do the Duke and Duchess make their money? Yahoo Finance broke it down for you.
Inheritance from Princess Diana
The Duchy of Cornwall
The Prince cannot do whatever he wishes with the Duchy—it is managed and run on his behalf, but he receives all net profit from it. Though the Duchy is not taxed, Prince Charles voluntarily paid income tax on his profits.
While it’s unclear exactly how much of the Duchy’s profits are handed to Will and Kate—it’s at least enough to keep a staff of 12 aides and an active travel schedule.
Nicole Goodkind at Yahoo Finance 9 days ago
In his latest book, The Forgotten Depression, Jim Grant explores the economic slump of 1920-1921 and applies the lessons learned to today’s economy. The largest takeaway? During hard economic times, less federal intervention is actually more.
To get out of the 1920-21 depression, says Grant the Federal Reserve actually raised interest rates. “So a question for those who contend and contend forever more for radical federal intervention is, how did this slump ever end? Why aren’t we still in it?” asks Grant. Grant believes that the U.S. historical narrative (which he contends favors federal intervention) should be revised to include an event where the “price mechanism, Adam Smith’s fabled invisible hand, did the work and what followed was a dynamic recovery and the 1920s roared,”
Nicole Goodkind at Yahoo Finance 12 days ago
The holiday season is in full swing, and Friday’s jobs report revealed 321,000 new jobs were created in December, exceeding the expected 230,000 jobs by a long shot. Are we in store for more good news?
Yahoo Finance editor-in-chief Aaron Task sat down with Yahoo Finance’s Jeff Macke, Zanny Minton Beddoes, Business Affairs Editor at The Economist and McGladrey chief economist Joe Brusuelas to discuss.
“This was a brutal week for cynics,” says Jeff Macke. “We started off with all the headlines about how terrible Black Friday was, but as it turns out the consumer is doing just fine.” Macke points to the jobs number as evidence that the American public is doing all right.
“I’m expecting the price of WTI to fall below $65 a barrel next week,” says Joe Brusuelas. He expects to see a subsequent decrease in gas prices. “I would expect many areas of the economy to be below $2 per gallon by the end of the year,” he says. He expects low gas prices to boost overall personal discretionary expenditures and retail sales.
Watch the video above for a larger conversation around the Federal Reserve, ECB and Bank of Japan.
Nicole Goodkind at Yahoo Finance 12 days ago
The yield on the U.S. 10-year treasury note (^TNX) hovers around 2.3%, a figure that seems incredibly low until it’s compared to European rates. Germany’s is just under 1% and in Sweden, the yield is around 0.18%. Japan’s 10-year yield clocks in at 0.44%. In Switzerland, the 2-year treasury yield is actually negative at -0.148%.
“We have never had this kind of interest rate structure upon which is superimposed a federally sponsored rise in asset prices,” says Jim Grant, author of the new book,"The Forgotten Depression" and editor of "Grant’s Interest Rate Observer."
Grant believes that distorted interest rates distort production and that when rates do eventually go up “you’re looking at some recalibration of asset values,” certainly not a bull market.
Nicole Goodkind at Yahoo Finance 13 days ago
In February of 2013, Nouriel Roubini, New York University professor and chairman of Roubini Global Economics , told Yahoo Finance that the U.S. was about to enter an asset bubble that would be “bigger than the one we had in 2003-06.” This was a huge departure for Roubini whose typically negative economic outlook earned him the affectionate nickname, Dr. Doom. Roubini’s general outlook was correct. Since February of 2013, the S&P 500 (^GSPC) has increased by nearly 39%.
But bubbles burst. So will we continue to see double digit returns in 2015? We’re currently in the mid-late stretch of this boom, “so next year we’ll see economic growth and easy money. This frothiness that we’ve seen in financial markets is likely to continue from equities to credit to housing,” says Roubini. He predicts an eventual crash, but not for at least a few years. He believes that valuations in some markets are already stretched and will continue to stretch until seeing a shakeout around two years down the line, in 2016.