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    • Tech Titans Are the New Masters of the Universe, Be Afraid: Kotkin

      When Steve Jobs died, Occupy Wall Street was in full effect. Yet those who were fighting for wealth equality and the end of the banking oligarchy held a moment of silence in honor of the Apple co-founder, who had a net worth of $7 billion.

      Jobs “didn’t believe in charity," writes Joel Kotkin in The Daily Beast. Apple (AAPL) was a company that "had more cash in hand than the U.S. Treasury while doing everything in its power to avoid paying taxes...Jobs was being celebrated by those who should have been fighting against him."

      Related: Apple's Right, Corporate Income Tax Should Be Debated: Pulitzer Prize-Winning Tax Expert

      Kotkin believes that tech gurus are America’s newest set of oligarchs. They hurt competition and hold great influence with government officials. They don’t create many U.S. jobs, they don’t pay much in taxes, and yet 72% of Americans express positive feelings for their industry.

      Auto executives flying in private jets set the American public into a rage in 2008 and yet

      Read More »from Tech Titans Are the New Masters of the Universe, Be Afraid: Kotkin
    • Hedge fund billionaire Paul Tudor Jones is making headlines after talking about “baby’s lips on a girl’s bosom” as a career-stunting “killer” for female Wall Street traders. Speaking at a symposium, he went on to discuss why he thinks being a mother makes it more difficult to become a successful trader in an ultra-competitive and male-dominated field.

      Tudor Jones made the controversial comments last month at a University of Virginia panel that was not supposed to be reported on or recorded. The Washington Post obtained the video through a Freedom of Information Act request (so much for off-the-record).

      In his commentary, Tudor Jones seemed to base his "typical female" case-study on two "girls" he started working with in the 1970s.

      In a statement to The Post, Tudor Jones responded to the criticism he's received after his comments went viral.

      He clarified that his remarks specifically referred to one area of trading, known as macro trading.

      Macro trading “requires a high degree of

      Read More »from Billionaire Investor Says Babies Are Like Divorce, They Both ‘Kill’ Focus
    • Bill Ackman Strikes Again: P&G’s McDonald Out, Lafley In

      Four years ago, Bob McDonald declared himself “honored” to be succeeded by A.G. Lafley as chief executive of Procter & Gamble Co. (PG). McDonald called Lafley “one of the greatest CEOs in P&G history.”

      In the same December 2009 press release, Lafley said, “I am retiring with confidence in Bob McDonald and his team. This is the right time to complete our management transition.”

      Or, maybe it wasn’t. McDonald no doubt felt less honored to be succeeded this week by Lafley, who was asked by the board of the Cincinnati-based consumer-goods empire to resume the CEO role after McDonald’s abrupt decision to retire.

      Under McDonald, P&G’s profit margins, market share and stock price lagged relative to peers such as Unilever PLC (UL), Colgate-Palmolive Co. (CL) and Clorox Inc. (CLX).

      Critics in the investment community have blamed McDonald for allowing lower-priced competitors to win market share from such gilded P&G brands as Tide detergent and Pampers diapers, and for being slow to capitalize

      Read More »from Bill Ackman Strikes Again: P&G’s McDonald Out, Lafley In
    • Corporate America is in the midst of an obsession with "shareholder value."

      This narrow measure of company performance holds that what's good for a company's stock price is also what's good for the company and its customers and employees. So, for better and worse, many of today's CEOs are judged primarily by their stock prices.

      Capitalizing on this theme, Bloomberg has put together a list of CEO "underachievers"--big company CEOs whose stocks have done the worst relative to the broader market since the beginning of each CEO's tenure.

      Meg Whitman of Hewlett-Packard (HPQ) sits atop the list, with HP's stock having underperformed by a startling 30 percentage points since she took the job.

      James Gorman of Morgan Stanley (MS) and Brian Moynihan of Bank of America (BAC) hold the 5th and 6th slots, with both banks having struggled in the past couple of years.

      And, not surprisingly, the staggeringly well-compensated CEO of Occidental Petroleum (OXY), Stephen Chazen, owns a place in the top

      Read More »from Top CEOs Ranked By Their (Lousy) Stock Performance

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