Former Home Depot CEO sounds alarm on 'tremendous shift' in labor market

A former top corporate America executive is warning that the U.S. economy is not on a fast track to recovery, as higher inflation and more mass layoffs loom over markets.

"The general population will not be duped by this aversion to try and blame inflation on corporate America. It starts at the raw materials, it starts at transportation, it starts at energy," former Home Depot and Chrysler CEO Bob Nardelli said on "Cavuto: Coast to Coast" Monday. "A whole host of things that are driving this up, wage increases." READ MORE

How I Accidentally Uncovered a Crypto Mining and Investment Fraud Network

Recently, a friend of mine who is a novice crypto investor reached out to me asking if I could look into a company that promotes crypto mining and investment. The website promised returns that seemed too good to be true and had various other red flags. Unfortunately, by the time I got back to them with this information, my friend had already transferred several thousand dollars worth of Bitcoin. They were told they had earned a substantial return on their investment, but when they tried to withdraw their money, things took a dark turn. The fraudsters demanded additional fees to be paid before allowing the withdrawal; then, they threatened to close the account and call the police if my friend did not send more money. At this point, it was clear that the investment was fraudulent, there was no profit, and nothing would be returned. READ MORE

Managers, employees turn to ChatGPT to write performance reviews

Performance reviews can win you a raise or get you laid off — and managers and employees alike are turning to ChatGPT to write them.

Why it matters: The sensitive work of writing your own self-assessment, or reviewing the work of an employee who reports to you, has become so daunting or monotonous that some would rather turn it over to AI.

What's happening: It's been over a year since ChatGPT became a household name and though the excitement over its magic has begun to wane, people are increasingly using it for all sorts of critical tasks. READ MORE

Here’s how the first 15 minutes of your day affects your whole workday

Think about how the first 15 minutes can set the tone for your workday. Imagine if you arrive late and rush to your desk, or if you have a fight with your spouse while you’re on your commute, or if you realize you forgot that you had an early meeting and missed it.

With some organization, a positive mindset and a plan of action to tackle your day, experts say the first 15 minutes of your day can springboard your workday to be productive. Here’s a deeper dive. READ MORE

Performance evaluations are a waste of time – here’s what to do instead

If there’s one thing most employees (and some HR professionals for that matter) hate, it’s performance reviews.

Jack Dorsey – the former co-founder of Twitter – hates them so much that, that at the end of 2023 he made the news when he announce that his new organization – Block – would be banning them altogether.

The big irony with performance reviews is that according to Workhuman Analytics & Research, 55% of workers do not actually think performance reviews improve performance. Most employees get anxious with them, and many argue their structure focuses too much on historic performance rather than future potential and capability. READ MORE

Exxon is taking its shareholders to court as the anti-ESG backlash escalates into a civil war between the proponents of shareholder primacy

Since the 2008 financial crisis, a growing chorus of advocates and scholars have argued that corporations have a responsibility toward a number of different stakeholders, including their employees. The opposing camp has held that shareholders come first: They are the owners of the firm, and they should ultimately decide how it acts.

However, there is a schism forming among those who claim to adhere to the idea of shareholder primacy–the notion that a company should serve only its investors. And it widened again last month when oil giant ExxonMobil sued two of its shareholders, Arjuna Capital and Follow This, to block them from submitting climate-related resolutions at its shareholder meeting. READ MORE

Mark Cuban says X is ‘impossible’ to use, shares barrage of daily antisemitism his account gets

Mark Cuban’s X account began reposting antisemitic remarks this week aimed at none other than himself, leading some to believe that his page had been hacked. But the reposts were actually made by Cuban in an effort to highlight the platform’s surge in anti-Jewish rhetoric.

“It was me,” Cuban confirmed to the Daily Dot.

Many of the reposts, which Cuban began sharing on Wednesday, attacked his Jewish heritage and accused him of attempting to subvert society. READ MORE

“You guys [Jews] seem to have a genetic predisposition to subvert societies,” one user reposted by Cuban said. “Why? I have no idea, but even Jesus himself rebuked yall.”

Why Tim Cook Is Going All In on the Apple Vision Pro

The first time Tim Cook experienced the Apple Vision Pro, it wasn’t called the Apple Vision Pro. It was years ago; maybe six, seven, or even eight. Before the company built Apple Park, where we’re sitting right now, at a bleached oak table in this incredible circular edifice of a building clad in miles of curved glass. It’s been raining, and the clouds are clearing over the pine trees and the rows of citrus and maple trees, and the sun is reflecting off the pond in the meadow, and it’s kind of mesmerizing. And Cook’s telling me about that time, all those years ago, in his dulcet Robertsdale, Alabama, accent, when he first saw it.

It was at Mariani 1, a nondescript low-rise building on the edge of the old Infinite Loop campus with blacked-out windows. This place is so secret, it’s known as one of Apple’s “black ops” facilities. Nearly all of the thousands of employees who work at Apple have never set foot inside one. There are multiple layers of doors that lock behind and in front of you. But Cook is the CEO and can go anywhere. So he strolls past restricted rooms where foldable iPhones and MacBooks with retractable keyboards or transparent televisions were dreamed up. Where these devices, almost all of which will never leave this building, are stored in locked Pelican cases inside locked cupboards. READ MORE

This startup wants to help mom-and-pop restaurants drop Grubhub

A startup called Owner wants to help mom-and-pop restaurants thrive online.

Digital ordering and online marketing have become more essential to a restaurant’s survival than ever. While that shift online can be a relatively easy one for chain establishments, Owner cofounder and CEO Adam Guild says independent restaurants can easily end up spending a lot of time and money on delivery services, web design, emailing marketing tools, and other digital tools without seeing a great return on investment. READ MORE

Oakland's largest employer reportedly tells workers to eat lunch inside

Oakland's largest employer has reportedly told workers that due to safety concerns in the city, taking breaks indoors is recommended. 

KTVU first reported that Kaiser Permanente, which was founded in 1945 and is headquartered in Oakland, has recommended employees "stay in their buildings for lunch and work, in response to street robberies of workers who went out to grab something to eat." Kaiser's main corporate office is located in the Ordway building at 1 Kaiser Plaza by Lake Merritt. The memo, which was issued last month, also reportedly advised employees to avoid in-person meetings, if possible, and only recommended the Claremont Hotel in the Berkeley Hills for out-of-town guests. READ MORE

IBM to managers: Move close to an office or quit

International Business Machines Corp. delivered a companywide ultimatum to managers who are still working remotely: move near an office or leave the company.

All US managers must immediately report to an office or client location at least three days a week “regardless of current work location status,” according to a memo sent on Jan. 16 viewed by Bloomberg. Badge-in data will be used to “assess individual presence” and shared with managers and human resources, Senior Vice President John Granger wrote in the note. READ MORE

The Five Words That Should Send You Running From Any Job

The next time you’re interviewing for a job, there are five words your interviewer might say that should send you running in the opposite direction: “We’re like a family here.”

While a family-like company might sound pleasant on the surface, that framework tends to be a flag for a strikingly dysfunctional work environment—one that will make unreasonable demands on you while expecting you to comply because, after all, “we’re a family.” READ MORE

Signs Panera Might Not Be Around Much Longer

Panera, otherwise known as Panera Bread, got its start in 1987 in St. Louis, Missouri. Originally called the St. Louis Bread Company, the bakery focused initially on sourdough loaves, growing in popularity and presence until it became the successful franchise we know today. With well over 2,000 locations (via ScrapeHero), the fast-casual restaurant has achieved a level of prosperity that many small start-up restaurants can only dream about, and is undoubtedly one of the most ubiquitous restaurant chains in America. And while Panera's original business model may have focused exclusively on bread, its modern menu is not only full of pillowy slices, but also soups, salads, sandwiches, drinks, pastries, cookies, coffee, and more. READ MORE

US commercial real estate suffers as telework becomes the new norm

At the beginning of COVID-19 pandemic telework seemed like a temporary fix for not being able to go into the office. But, new research from The Conference Board shows that less than 30% of companies are prioritizing the return to the office. Julie Whelan (CBRE) of CBRE Global Commercial Real Estate Services says the commercial real estate space is in trouble. 

"Office vacancies in the U.S. are currently at about 18.4% which is a historical high. As a point of comparison, it was about 12% right before the pandemic in late 2019" Whelan said. READ MORE

Will corporate DEI survive a growing ‘anti-woke’ movement?

Corporate backing of diversity, equity and inclusion has become table stakes in the last few years. While employer attention to DEI was already growing, the 2020 murder of George Floyd and subsequent global reckoning on race dramatically accelerated DEI to the top of the corporate priority list, solidified by evolving expectations about DEI, particularly among younger entrants to the workforce. But now, is a building “anti-woke” movement threatening the future of corporate DEI?

Not exactly, experts predict. However, political and legal pushback—along with other factors, including the workforce disruptions of artificial intelligence—are changing the game for corporate DEI. READ MORE

What We’re Still Getting Wrong About Performance Management

Performance management has been part of the business landscape for so long that many companies have lost sight of the outcomes they expect to achieve through the process. In fact, most performance management processes have multiple, conflicting intentions. On the one hand, they aim to measure performance — a metric that is often elusive, especially for knowledge workers. On the other hand, organizations also have the goal of improving employee performance. The performance management process is often also aimed at collecting data that can inform talent decisions, as well as related data such as career aspirations and development opportunities. Although all of these elements have something to do with the employee, trying to incorporate this mishmash of things into a cohesive assessment is like making dinner with what you’ve got in your fridge: Once in a while it meets expectations, but usually it ends up being a questionable proxy of a meal. For organizations, such an approach is both time-consuming and ineffective. READ MORE

Inflation slows, incomes rise, and Americans are much more optimistic about the economy

After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden’s political fortunes.

A measure of consumer sentiment by the University of Michigan has jumped in the past two months by the most since 1991. A survey by the Federal Reserve Bank of New York found that Americans’ inflation expectations have reached their lowest point in nearly three years. And the same survey, released last week, found that the proportion who expect their own finances to improve a year from now is at its highest level since June 2021. READ MORE