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A former U.S. prosecutor compared the FTX scandal to one of the worst frauds in history after at least $1 billion in client money vanished.
"This FTX fraud is going to make Enron look like peanuts," Guy Lewis said on FOX Business' "Mornings with Maria" Thursday.
Lewis also predicted that when all is said and done, FTX is going to be exposed as a criminal enterprise. READ MORE
Marissa Peterson quit her job as a bartender in Durham, North Carolina, in June, after she was sexually assaulted by a customer and felt management didn’t do enough to keep her assailant from returning to the establishment.
Her decision, Peterson said, was informed by time she spent at home during the pandemic, after being laid off from another job. Extended pandemic unemployment insurance gave her, for the first time in her adult life, space from work and time to consider her relationship with it. READ MORE
I’ve worked in the fields of resilience, performance psychology and leadership science for over 20 years. In that time, my team and I have heard leaders ask one question over and over again. It’s one you’ve probably asked yourself, in fact: “Why can’t we get our people to adapt, innovate and/or perform better?”
In other words, “Why isn’t my performance management system working, and what can I do about it?” READ MORE
For companies, practicing good performance management leaves an open-door policy that can strengthen the relationship and communication between both employees and managers. Using tactics like having open dialogues with each other to giving and receiving constructive criticism are just a couple of important ingredients that help not only make the process simple but build trust between both parties. READ MORE
Employee performance reviews are a crucial part of employee experience, and some performance review approaches are a better fit for a particular company than others. HR leaders should learn about and evaluate performance review approaches so they can decide which works best, whether for a particular employee group or the entire company. READ MORE
Optimism among CFOs about their own companies dropped for a third consecutive quarter, marking the lowest it’s been since midway through 2020, according to a survey released Wednesday morning. READ MORE
Over the last three years, managers have taken on incredible loads: from the emotional strains of the pandemic to the challenges of social unrest to the fear and difficulties of returning to the office. And now, here they are, watching their colleagues and employees get laid off, knowing they will have to pick up the pieces of what is left behind.
Is it any wonder that managers are less engaged and effective READ MORE
As investors wrap up one of the most challenging years on record, signs of life in the M&A market suggest risk appetite might be increasing as we approach the new year.
U.S. investors were met with at least $40 billion worth of deals ahead of the open Monday, led by Amgen’s acquisition of Horizon Therapeutics, Microsoft’s new stake in the London Stock Exchange Group, Coupa Software’s sale to Thoma Bravo, and a move by Weber to go private. READ MORE
American workers aren't getting nearly as much done this year as they used to.
U.S. labor productivity plunged first quarter in the largest decline since 1947, then dropped by the highest annual amount on record in the second according to the Bureau of Labor Statics. The third quarter data indicates year-over-year output saw three consecutive declines for the first time since 1982. READ MORE
American work culture is having an identity crisis. Are we a #riseandgrind people or are we #QuietQuitting? Are we, as Elon Musk and Sam Bankman-Fried have modeled, going so “extremely hardcore” that we’re willing to sleep at the office? Or are we evolving, recognizing the toxicity of hustle culture and finally setting boundaries? READ MORE
While the potential risks of a coming economic downturn are “very high,” factors such as the strong labor market and loosening pressure on supply chains could see the U.S. economy narrowly missing a recession, Julia Coronado, president and founder of economic research firm MacroPolicy Perspectives said during a panel discussion Tuesday. READ MORE
U.S. government scientists at a California laboratory have reportedly made a monumental breakthrough in harnessing the power of fusion energy.
The scientists, working at Lawrence Livermore National Laboratory, recently achieved a net energy gain in a fusion reaction, the Financial Times reported, citing three people with knowledge of the experiment. READ MORE
The verdict is in: A four-day work week is good for business.
After six months, most of the 33 companies and 903 workers trialing the schedule, with no reduction in pay, are unlikely ever to go back to a standard working week, according to the organizers of the global pilot program.
None of the 27 participating companies who responded to a survey by 4 Day Week Global said they were leaning towards or planning on returning to their former five-day routine. About 97% of the 495 employees who responded said they wanted to continue with a four-day week. READ MORE
"Protecting people and the planet is at the heart of who we are." "Being a responsible corporate citizen is part of our DNA."
Sound familiar? Probably if you've read a corporate environmental, social and governance (ESG) or sustainability report in the past decade.
But what does it really mean for a business to integrate ESG into its operations? READ MORE
The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.”
Bank of America CEO Brian Moynihan said in an exclusive interview with Poppy Harlow on “CNN This Morning” Tuesday that there is a lot of uncertainty in the global economy due to the potential US freight railroad strike, Russia’s war with Ukraine and Covid shutdowns in China. READ MORE
The vast majority of startup exits occur via acquisition. And while the internet is full of advice for pre-exit founders, remarkably little content exists to help guide them through post-acquisition life — even though they and the employees they recruited will often spend two-to-three years toiling away with the acquirer. An acquisition is an exciting occasion, to be sure, but it is hardly the happily-ever-after ending that the “founder’s journey” story might suggest. READ MORE
As industry-wide layoffs hit bigger tech names, some Google workers worry they’re next.
While Google has so far avoided the widespread job cuts that have hit tech companies, particularly those supported by a slumping ad market, internal anxiety is on the rise, according to documents viewed by CNBC and employees who spoke on the condition of anonymity. READ MORE
Much of Twitter’s ad sales team has been fired or pushed out. Large companies from General Mills to Macy’s have paused advertising on the platform, with more potentially following suit after new owner Elon Musk’s decision to restore the account of former President Donald Trump and other controversial figures. And any cursory scroll of the platform will likely show you fewer big brand ads. READ MORE
For the first time, the FDA has approved a startup to sell (gulp) lab-grown meat for human consumption. Upside Foods, which makes cell-cultured chicken, can sell its products once they are approved by the U.S. Department of Agriculture. READ MORE
Positions that allow remote work continue their upward incline: According to data from Ladders, a career site for positions that pay $100,000 or more, 36% of all professional jobs are now remote. That’s a huge jump over the past couple of years. Prior to the pandemic, only about 4% of high-paying jobs were available remotely. By the end of 2021, that jumped to 18% and now, at the end of 2022, that number has doubled. READ MORE