Elon Musk plays by his own rules.
The whimsical and charismatic entrepreneur likes to challenge the conventions which dominate in business circles and markets.
Sometimes this costs him dearly. READ MORE
ChatGPT: Who and what is behind the artificial intelligence tool changing the tech landscape
Since the introduction of the artificial intelligence tool ChatGPT in November 2022, the new technology has displayed the power and potential that AI can have on our lives.
Open AI CEO Sam Altman, the company behind ChatGPT, admitted earlier this month that he was even "a little bit scared" of the powerful technology his company is developing. While Altman predicted that artificial intelligence "will eliminate a lot of current jobs," he has said the technology will be a net positive for humans because of the potential to transform industries like education. READ MORE
Seriously Amazon? 9,000 more layoffs?
32-hour workweek bill reintroduced in Congress: Will it pass?
The “Thirty-Two Hour Workweek Act” was introduced in the House earlier this month, as progressives try for a second time to shorten the standard workweek from 40 hours to 32.
The bill, introduced by Rep. Mark Takano (D-Calif.), proposes amending the Fair Labor Standards Act to shorten the standard workweek by eight hours for non-exempt employees. (A non-exempt employee is someone who is currently entitled to overtime when they work more than 40 hours in a week.) READ MORE
KPMG’s 29-year SVB stint stirs independence debate
There are two notable dates that stand out to corporate finance experts who have been following the collapse of Silicon Valley Bank and looking for clues as to whether or how KPMG — one of the so-called Big Four audit firms — may have slipped up in failing to flag risks that led to the biggest U.S. bank failure since 2008. READ MORE
With 9,000 New Cuts, Amazon Leads With Most Tech Layoffs
How do you layoff this many workers and your business is not impacted? READ MOORE
5 benefits to rebooting the performance review with a coaching mindset
Performance reviews are due for an upgrade—actually, many experts are calling for a complete overhaul of the process.
Industry observers have forecast the end of the performance review for quite some time, the most famous example perhaps being Samuel Culbert’s 2008 Wall Street Journal article “Get Rid of the Performance Review!.” READ MORE
Six Guidelines For Successful Board-Shareholder Engagement
With shareholder activism on the rise, the need for boards to proactively engage with shareholders has also increased.
Shareholder engagement refers to the process of engaging shareholders, usually those representing the largest blocks of stock, in face-to-face verbal communications. Topics usually include CEO evaluation and succession, executive compensation, board nomination criteria, governance issues, corporate strategy and emerging issues such as oversight of corporate culture, human capital management and the set of issues known as environmental, social and governance. Institutional investors and proxy advisory firms usually publish their priorities in advance of proxy season, which helps boards scope what topics are appropriate for discussion. READ MORE
Silicon Valley Bank had no official chief risk officer ahead of collapse but employed DEI executive
Silicon Valley Bank (SVB) did not have a chief risk officer for the last eight months of 2022 as it barreled toward collapse – even as it employed a chief diversity officer over the same period.
SVB Chief Risk Officer Laura Izurieta entered into an agreement with the bank to shift into a non-executive role in late April 2022 as she transitioned out of the company, according to Forbes. READ MORE
March Madness will cost employers $17B this year as workers slack off
The cost of lost worker productivity for employers due to March Madness will reach an eye-popping amount this year, Challenger, Gray & Christmas estimated.
In the report released Tuesday, the global outplacement firm estimated that employers will see $17.3 billion in costs from lost productivity from workers distracted by college hoops. The figure accounts for employees doing things like brackets and watching games on the clock amid the more than two weeks’ worth of workdays in which the NCAA tournament coincides, according to Challenger, Gray & Christmas. READ MORE
WHO KILLED SVB? Timeline of Panic...
On March 10, Silicon Valley Bank, one of the most prominent lenders in the start-up ecosystem, collapsed. Federal regulators stepped in to allay fears and limit risk in the broader financial system.
Here is a timeline of major events related to the bank’s collapse and its aftermath. READ MORE
‘The next AOL?’: Meta’s massive layoffs raise questions about Zuckerberg’s strategy as company morale sinks
“A challenging period.”
That’s how Mark Zuckerberg described in a memo what the near future will be like for Meta employees after he announced the once-impervious social media company will cut another 10,000 jobs in the months ahead. READ MORE
'Mr. Wonderful' torches 'idiot' bankers, says feds' SVB response 'nationalized the banking system'
Canadian-American investor Kevin O'Leary called out the "idiot bank managers" who led Silicon Valley Bank to its demise, further adding that the federal government's response to the collapse unwisely "nationalized" the banking system.
O'Leary, well-known by his "Mr. Wonderful" nickname coined on "Shark Tank" by fellow investor Barbara Corcoran, told "Hannity" that he however doesn't like playing politics, especially in terms of finance. READ MORE
Silicon Valley Bank had more red flags than a CCP meeting
Despite skeins of bank regulations supposed to prevent another financial meltdown, Silicon Valley Bank, the country’s 17th-biggest bank, went down in flames last week. It was the second-biggest bank failure in U.S. history and has prompted a lot of finger-pointing. READ MORE
How to spark a revolution in company culture that’ll boost employee retention
No matter how much the landscape of work changes, an inclusive workplace culture will always be vital. Workplace culture is defined by a combination of things from the values of employees to the ways that leaders shape actions to run the business. Although culture is often intangible, it’s a core tool to empower employees to be productive and inspired. READ MORE
US fighting a remote work ‘tug of war’ as employees look for ‘compromise,’ expert says
With more than 40 million U.S. workers expecting to do their jobs fully remote by 2025, one labor expert warned that a "tug of war" between businesses and employees to make the transition could add extra stress to the market.
"We've got this kind of interesting tug of war that's happening right now between workers and the employers," RedBalloon CEO Andrew Crapuchettes said on "Varney & Co." Friday, "because the employers want people in the office, and workers, we learned through the pandemic that, hey, you can be productive for a little bit when you work at home." READ MORE
Home Depot founder schools Fed, Biden over the 'tragedy' that comes with inflation
Billionaire investor, philanthropist and business leader Ken Langone called out the Federal Reserve under President Biden for not acting on raging inflation that’s hurting average Americans most.
"Let me say this to you about Joe Biden, in my opinion, and I'm going to be very, very direct: he thinks he's the smartest guy in the room," Langone said on "Mornings with Maria" Wednesday. "If that's the case, we're really in trouble, because the American people are a lot smarter than that." READ MORE
Silicon Valley Bank touts Forbes 'best bank' nod days before becoming largest failure since Great Recession
It's a remarkable show of how fickle fortune can be, all captured in a tweet.
"Proud to be on @Forbes' annual ranking of America's Best Banks for the 5th straight year and to have also been named to the publication's inaugural Financial All-Stars list," SVB tweeted Monday. READ MORE
Proximity matters at work. What does that mean for the future of remote work?
Despite corporate America’s efforts to create inclusive work environments, leaders across the globe say proximity bias is likely real, according to a 2023 Future of Working and Learning Report READ MORE
The four-day work week: Is it for real?
No doubt you’ve read many of the stories in the business press about the studies going on in the U.K. and other countries where employers agreed to switch to a four-day work week—and it is going really well. Is there a reason to think this is the wave of the future? READ MORE