, former CEO and chairman of Intel, died yesterday at age 79.
Also at Ars Technica
The Beggar CEO and Sucker Culture
castigates employers who think their employees should do extra work for free.
The Trans-Everything CEO
(SL New York Magazine, trigger warning: some weird pronoun stuff and misogyny.)
While interviewing Indra K. Nooyi, the CEO of PepsiCo, at the Aspen Ideas Festival Monday, David Bradley, who owns The Atlantic, asked two questions that elicited as frank a discussion of work-life balance as I've seen from a U.S. CEO. Pepsi CEO's Mother Had A Brutally Honest Reaction To Her Daughter’s New Job
Nathan Rabin kicks off One and Done
- a look at writers, directors and actors who only made a significant contribution to a single film - with a dive into Carrot Top's Chairman of the Board
Cribbing from Pee Wee's Big Adventure
and Yahoo Serious
, this 1998 opus
failed to establish the college prop comic as a box office draw. However, the appearance of Chairman of the Board
co-star Courtney Thorne-Smith on Conan O'Brien
(with guest Norm MacDonald) is unforgettable
Steve Ballmer bid farewell to Microsoft employees today after nearly 14 years as CEO, and he did it in his usual understated fashion
. [more inside]
Microsoft CEO Steve Ballmer announced
of the company
today to focus on devices
Ballmer said that the goal was to have "One Microsoft" where "our strategy will focus on creating a family of devices and services for individuals and businesses that empower people around the globe at home, at work and on the go, for the activities they value most". [more inside]
Bloomerg compiles a list of the 250 highest CEO-to-employee-pay ratios
, estimated based on publicly available information. They also publish any rebuttals issued by those companies.
, Google's Marissa Mayer
. Maybe they got it right this time?
"He doesn’t leave anything on the table, does he?"
John Hammergren is the CEO of McKesson, a major healthcare system and pharmaceutical provider. He earned $145 million last year, not including an employer-contributed $13 million to his executive pension plan (the employee pension plan was shuttered in 1997, before Hammergren's tenure began), unlimited personal use of a corporate private jet, car and chauffeur, and other perks like a lifetime
personal assistant and office and financial counselor. In his ten years with McKesson, Hammergren has earned over $500 million. The Daily Beast dives into the extraordinary compensation of the 0.01%. If you're so inclined, the EDGAR filing
has the excruciating detail, including bits like this: [more inside]
Corporations don't dodge taxes. People do.
"The report found that the CEOs of 25 major companies paid themselves more than their companies paid in Federal income taxes. Exhibit 1 on page 31 names and shames them (well, assuming they are capable of shame), and they include John J. Donahoe of eBay, Robert Coury of Mylan Labs, Jeff Immelt of GE, and Robert Kelly of Bank of New York. The New York Times article on the report elicited some not-convincing rebuttals."
After being involved with the N.B.A for 40 years, Phoenix Suns President and CEO reveals that he is gay
. [more inside]
"A ballet dancer needs a mirror to perfect her style, her technique. A singer needs the same -- an aural mirror."
In 1950 and '51, Japan’s first reel-to-reel tape recorders, the "G-Type
" (for gov't use)
and the "H-1
" (for home use)
were released by a company named Tokyo Tsushin Kogyo. Music student Norio Ohga was unimpressed by the wobbly sound of "Talking Paper
," so he wrote a note complaining to the firm's founders, who hired him. Mr. Ohga never achieved his original dream of becoming a baritone opera singer, but the future President of TTK, (later renamed Sony,) would still make an indelible, global impact on the world of music -- including the development and introduction of the compact disc. Mr. Ohga died on April 24, 2011
. [more inside]
Ken Lay & Enron. Bernie Madoff. Bernie Ebbers & WorldCom. What is it about CEOs that makes them uniquely capable of pulling off the most audacious & expensive kind of white collar crime? Control Fraud Theory
has the answer. Via the ever-enlightening Bruce Schneier
JetBlue's timely introduction to commercial air travel for CEOs only
(no minions, lackeys, or "regular" people allowed). Chapter 1
and chapter 3
CEO's have to disclose health conditions to the public? The question matters if the person being referred to is Steve Jobs
, whose health is under constant scrutiny
. Does it matter that the person
asking the question
is one of Mr. Jobs' biggest critics?
As is the custom these days, GMAC Bank is suing mortgage broker HTFC
for selling them improperly secured loans
. The deposition of HTFC's CEO Aron Wider reads like a Joe Pesci role with 73 creative uses of the f-word over twelve hours of testimony
. A federal judge fined Mr. Wider and his attorney
$29K for Mr. Wider's constant use of bad language, insults, refusals to answer questions, and his lawyer's failure to control his client.
Bloomberg running for prez
as an independent? You'd almost have to give it low odds but, as an outside possibility, I find it intriguing
Pepsi-Cola's first woman CEO
is anointed on the eve of her country of birth's Independence Day. As the US warns India not to ban Pepsi-Cola
implying it may impede future economic progress, and India celebrates Independence from the British under heightened security alerts
, one wonders how Indra Nooyi
will navigate this press relations nightmare
The SEC has proposed new rules [pdf]
to drastically increase requirements on executive compensation disclosure. You can read a summary of the proposal in the SEC's press release
, as well as statements from Chairman Cox
and Commissioner Atkin
. [more inside]
The feeding frenzy.
Carly Fiorina has been attacked
by the media
. But, oh no, not because she was a woman. Those who sang her praises
now chronicle her demise
CEO of Russia's largest oil company in jail
The guy sounds like a crook to be sure; but its an interesting contrast to the US. When was the last time in this country someone with limitless financial resources was thrown in jail? Is Key Lay
in jail? How about Bernie Ebbers?
(Worldcom getting Iraq contracts
is of course another story) Jeff Skilling?
With all the talk of crony-capitalism anymore its easy to get desensitized. But to get a reality check on how to treat toplevel white-collar crime from Russia of all places is sobering.
OSI Prez slaps SCO CEO with blogauntlet
You know, when Eric S. Raymond speaks, people listen. But I think this particular rant, he wants just one person to listen: Darl McBride, CEO of SCO.
It's all about shareholder value.
Steve Jobs has received tremendous positive press for only accepting one dollar per year as payment for his CEO services at Apple. How does he do it, you ask? Well, he supplements his income by a) being a billionaire, and b) renting out his corporate jet to Apple, at a cost of over 1.2 million dollars, over the past two years. Which is an exceptionally generous rental fee considering that Apple itself paid $90 million for the jet, which it bought for Jobs in May of 2001. This data was disclosed along in the most recent quarterly report in which Apple announced layoffs of 260 employees, none of whom were given a jet.
The scariest costumes this year represent those that crushed the dreams of many, bilked millions from strangers, and got away. Psycho Killers? Crazed Snipers? No, Forbes gives you: CEO Halloween masks
. I know the kids will love going as Martha
. It's a good thing.
This explains everything!
Mystified by the recent flurry of corporate meltdowns? Do you find yourself thinking: "Are those CEOs CRAZY?" Well maybe they are!
You've got Jail
is a light hearted, easy summer reading and informative article which explodes the myth that malfeasing CEOs get sent to "Club Fed", a prison so minimum in insecurity that its really like an enforced vacation in the country rather than the more typical round
. Required reading for the Skillings, Rigas, Taubmens and every college student considering an MBA.
(So is the MeFi fascination with Prison life
an idle one
or am I keeping the wrong company?)
The CEO White House
has yet another CEO with credibility problems. On Mr. O'Neill: "Administration officials "need to bring in someone with real credibility, with a good understanding of economics and who understands politics," said Stephen Moore, president of the Club for Growth, a conservative political action committee."
Cheney in Numbers.
It's hard to spin hard cold numbers. Here's a few:
*Cheney's 2000 income from Halliburton: $36,086,635
Increase in government contracts while Cheney led Halliburton: 91%
*Minimum size of "accounting irregularity" that occurred while Cheney was CEO: $100,000,000 (One hundred MILLION dollars)
*Number of the seven official US "State Sponsors of Terror" that Halliburton contracted with: 2 out of 7
*Pages of Energy Plan documents Cheney refused to give congressional investigators: 13,500
*Amount energy companies gave the Bush/Cheney presidential campaign: $1,800,000
also loved this quote:
"Cheney and Bush want privacy for their conversations, but not for anyone else's." --Tony Mauro in USA Today, Feb. 27, 2002
Keep your CEO out of grad school.
I found this article to be provocative. Can the performance of a CEO be judged by just one number (i.e., return to shareholders)? Shouldn't the study be controlling for size of firm, industry characteristics, economic cycle etc.? What do you think?
The CEO of Canada's largest book retailer will be pulling Adolf Hitler's Mein Kampf
from store shelves and the Chapters/Indigo
online store, saying "We consider it hate literature... With freedom of expression, the line is drawn on hate literature.
" Perhaps MeFites can help her out by compiling a list of other books to remove. Can we get rid of The Anarchist's Cookbook
, The Protocols of Zion
, and Turner Diaries
"Preserving the environment is a competitive advantage and a major business opportunity."
So says Bill Ford, former chairman and now CEO of Ford Motor Company
(replacing the ousted Jacques Nasser). An admirer
of the ecology of Volvos and a "hardcore environmentalist
," Bill Ford represents the hope of many with the planet's environment in mind. Can he really be for real
? Whether or not, the news is good to hear.
Who said execs have it rough?...
Poor George Shaheen, former CEO of Webvan. His company expanded in to more markets than necessary, gobbled up HomeGrocer (I loved their commercials and catchy theme song - "Would you like to have something to eat") then spit Dallas and Atlanta out.
Here are sweet details of the deal Shaheen negotiated after stepping down last month. Under the terms of his retirement package, Shaheen will receive 50 percent of his base salary and target bonus for the rest of his life.
All to the tune of $375,000 a year for life.
I wonder if Shaheen is Irish.
Now, I have nothing but respect for Carly Fiorina.
She's done an outstanding job at HP and deserves to be rewarded. But I've never understood this business of having the CEO also be the chairman of the Board.
The most important job that the Board of Directors has is to decide when to fire the CEO, which I emphasize that Ms. Fiorina does not deserve in the slightest at this time
. But that time may eventually come, as it does for all CEOs, and how the hell do you do it if the CEO you're trying to fire is also the chairman of the Board of Directors?
Would Corel be in the mess it's in today if Michael Cowpland had not been on its board?