Expert advocates using a 401(k) to get a bigger Social Security check

That’s where Thaler said his new idea regarding Social Security benefits would come in. The plan would let you take a portion of your 401(k) benefits — say, $100,000 or up to $250,000 — and send it to the Social Security Administration. But Social Security experts do not necessarily think the plan is that simple. Boston University economics professor Laurence Kotlikoff said he thinks Thaler’s plan is “dicey” and worries how it would impact the future of Social Security. As it stands, Social Secu


That’s where Thaler said his new idea regarding Social Security benefits would come in. The plan would let you take a portion of your 401(k) benefits — say, $100,000 or up to $250,000 — and send it to the Social Security Administration. But Social Security experts do not necessarily think the plan is that simple. Boston University economics professor Laurence Kotlikoff said he thinks Thaler’s plan is “dicey” and worries how it would impact the future of Social Security. As it stands, Social Secu
Expert advocates using a 401(k) to get a bigger Social Security check Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lorie konish, scott olson, getty images
Keywords: news, cnbc, companies, using, retirement, idea, expert, check, plan, security, advocates, benefits, income, todays, retirees, social, thaler, 401k, bigger


Expert advocates using a 401(k) to get a bigger Social Security check

That retirement income problem is amplified by a cultural change for today’s retirees. While previous generations entered retirement with their mortgages paid off, today’s retirees typically have high debts and insufficient savings, Thaler said.

That’s where Thaler said his new idea regarding Social Security benefits would come in.

The plan would let you take a portion of your 401(k) benefits — say, $100,000 or up to $250,000 — and send it to the Social Security Administration.

What you would get in return would be the only indexed annuity that’s guaranteed by the federal government at a fair actuarial value, Thaler said.

“This may seem like a wild and crazy idea, but actually all the math has already been done by the Social Security Administration,” Thaler said.

That is because the system already adjusts your benefits for your age, for each year you work and the income you take in while receiving benefits, he said.

But Social Security experts do not necessarily think the plan is that simple.

Boston University economics professor Laurence Kotlikoff said he thinks Thaler’s plan is “dicey” and worries how it would impact the future of Social Security.

As it stands, Social Security will only be able fund about 80% of promised benefits by 2035, provided Congress does not intervene, it was announced on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lorie konish, scott olson, getty images
Keywords: news, cnbc, companies, using, retirement, idea, expert, check, plan, security, advocates, benefits, income, todays, retirees, social, thaler, 401k, bigger


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Tobacco company Philip Morris starts life insurance firm that offers discounts to smokers who quit

PMI sells a number of cigarette alternatives, though it’s placing a much bigger bet on iQOS, a device that heats tobacco rather than burning it. E-cigarettes are incredibly popular in the U.K., thanks in part of the country’s public health agency embracing the products as a less harmful alternative and encouraging people to switch. Offering people bigger life insurance discounts for switching to iQOS may push more people to try it. One day, PMI hopes to stop selling cigarettes altogether, CEO An


PMI sells a number of cigarette alternatives, though it’s placing a much bigger bet on iQOS, a device that heats tobacco rather than burning it. E-cigarettes are incredibly popular in the U.K., thanks in part of the country’s public health agency embracing the products as a less harmful alternative and encouraging people to switch. Offering people bigger life insurance discounts for switching to iQOS may push more people to try it. One day, PMI hopes to stop selling cigarettes altogether, CEO An
Tobacco company Philip Morris starts life insurance firm that offers discounts to smokers who quit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: angelica lavito, melody hahm, akio kon, bloomberg, getty images
Keywords: news, cnbc, companies, offers, health, philip, public, makes, bigger, sense, life, iqos, pmi, quit, morris, starts, products, cigarettes, tobacco, insurance, firm, smokers


Tobacco company Philip Morris starts life insurance firm that offers discounts to smokers who quit

PMI said it determines how big of a discount to give people for using alternative products based on the scientific data along with the potential of a product to reduce a person’s risk. PMI sells a number of cigarette alternatives, though it’s placing a much bigger bet on iQOS, a device that heats tobacco rather than burning it.

E-cigarettes are incredibly popular in the U.K., thanks in part of the country’s public health agency embracing the products as a less harmful alternative and encouraging people to switch. Offering people bigger life insurance discounts for switching to iQOS may push more people to try it.

One day, PMI hopes to stop selling cigarettes altogether, CEO Andre Calantzopoulos told CNBC in an interview Tuesday.

For more on investing in health-care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.

“Obviously that makes sense for public health and the people who smoke themselves, but it also makes sense for our shareholders because financially, as these products are not cigarettes, they benefit from lower excise taxes and better margins, so it’s a win-win for everybody,” he said. “That’s why we all move in this direction, and the faster we move out of cigarettes the better for all of us.”


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: angelica lavito, melody hahm, akio kon, bloomberg, getty images
Keywords: news, cnbc, companies, offers, health, philip, public, makes, bigger, sense, life, iqos, pmi, quit, morris, starts, products, cigarettes, tobacco, insurance, firm, smokers


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We want to be bigger than the NFL: One Championship

We want to be bigger than the NFL: One Championship2:55 AM ET Thu, 28 March 2019Hua Fung Teh of One Championship explains why he believes that his billion-dollar platform can one day be worth more than America’s National Football League.


We want to be bigger than the NFL: One Championship2:55 AM ET Thu, 28 March 2019Hua Fung Teh of One Championship explains why he believes that his billion-dollar platform can one day be worth more than America’s National Football League.
We want to be bigger than the NFL: One Championship Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28
Keywords: news, cnbc, companies, national, championship, league, nfl, bigger, worth, football, fung, explains, et, platform, teh


We want to be bigger than the NFL: One Championship

We want to be bigger than the NFL: One Championship

2:55 AM ET Thu, 28 March 2019

Hua Fung Teh of One Championship explains why he believes that his billion-dollar platform can one day be worth more than America’s National Football League.


Company: cnbc, Activity: cnbc, Date: 2019-03-28
Keywords: news, cnbc, companies, national, championship, league, nfl, bigger, worth, football, fung, explains, et, platform, teh


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Employers are hiring, but don’t expect a bigger paycheck

Median annual base pay for full-time workers rose to $52,672 in February, according to the latest pay report from Glassdoor. However, the government shutdown, market losses, geopolitical uncertainly and weakening effects from the 2017 tax cuts are contributing to headwinds, which are starting to slow down wage growth, Zhao said. Indeed, wage growth has been sluggish throughout the economic expansion, struggling to break 3 percent despite the tight labor market. “Weakening pay growth is a warning


Median annual base pay for full-time workers rose to $52,672 in February, according to the latest pay report from Glassdoor. However, the government shutdown, market losses, geopolitical uncertainly and weakening effects from the 2017 tax cuts are contributing to headwinds, which are starting to slow down wage growth, Zhao said. Indeed, wage growth has been sluggish throughout the economic expansion, struggling to break 3 percent despite the tight labor market. “Weakening pay growth is a warning
Employers are hiring, but don’t expect a bigger paycheck Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: jessica dickler, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, job, hiring, labor, employers, growth, glassdoor, paycheck, bigger, market, wage, workers, expect, dont, pay, zhao, positions


Employers are hiring, but don't expect a bigger paycheck

If you’re considering a new job, “there’s no time like the present,” said Daniel Zhao, senior economist at job-hunting website Glassdoor.

Median annual base pay for full-time workers rose to $52,672 in February, according to the latest pay report from Glassdoor.

However, the government shutdown, market losses, geopolitical uncertainly and weakening effects from the 2017 tax cuts are contributing to headwinds, which are starting to slow down wage growth, Zhao said.

February’s base pay was up only 1.3 percent from last year and wage growth in January was revised down to 2 percent from 2.3 percent, Glassdoor found.

Indeed, wage growth has been sluggish throughout the economic expansion, struggling to break 3 percent despite the tight labor market. Yet the most recent deceleration is “a little bit concerning,” Zhao said.

“Weakening pay growth is a warning sign for the labor market as we dig into 2019, but time will tell if this downward trend will continue.”

High-end job positions, such as data scientists, are seeing some of the greatest wage declines, Glassdoor found, mostly due to more people entering the field.

On the flip side, low-wage positions, such as cashiers and bank tellers, are notching some of the largest wage gains, according to Glassdoor, largely because of increases in the minimum wage.

Overall, “this is still a good time for workers to look for a new job,” Zhao said. “If they can find a job that fits them and pays well, they should go for it.”


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: jessica dickler, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, job, hiring, labor, employers, growth, glassdoor, paycheck, bigger, market, wage, workers, expect, dont, pay, zhao, positions


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Tesla ‘much bigger’ than Elon Musk and is doing things others can only dream of, analyst says

There’s more to Tesla than its billionaire boss, according to one analyst. Philippe Houchois, equity research analyst for U.S. and European autos at Jefferies, said the company has become “much bigger” than Chief Executive Elon Musk, who is seen by many as the face of the electric vehicle maker. “Tesla at this stage is much bigger than Musk,” Houchois told CNBC’s “Squawk Box Europe” on Monday. Houchois does not own shares of Tesla, he told CNBC later in the day by email. Just overnight, Musk sai


There’s more to Tesla than its billionaire boss, according to one analyst. Philippe Houchois, equity research analyst for U.S. and European autos at Jefferies, said the company has become “much bigger” than Chief Executive Elon Musk, who is seen by many as the face of the electric vehicle maker. “Tesla at this stage is much bigger than Musk,” Houchois told CNBC’s “Squawk Box Europe” on Monday. Houchois does not own shares of Tesla, he told CNBC later in the day by email. Just overnight, Musk sai
Tesla ‘much bigger’ than Elon Musk and is doing things others can only dream of, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: ryan browne, getty images
Keywords: news, cnbc, companies, analyst, things, twitter, musk, elon, bigger, company, tesla, told, houchois, doing, boss, dream, deal


Tesla 'much bigger' than Elon Musk and is doing things others can only dream of, analyst says

There’s more to Tesla than its billionaire boss, according to one analyst.

Philippe Houchois, equity research analyst for U.S. and European autos at Jefferies, said the company has become “much bigger” than Chief Executive Elon Musk, who is seen by many as the face of the electric vehicle maker.

“Tesla at this stage is much bigger than Musk,” Houchois told CNBC’s “Squawk Box Europe” on Monday. “Of course, Musk gets a lot of attention. But Tesla has been able to be profitable, at a level of pricing and product that nobody expected to generate cash.”

Houchois does not own shares of Tesla, he told CNBC later in the day by email.

Last year was a challenging one for Tesla and its CEO, marked by an ill-fated take-private deal, quibbles with Wall Street analysts and what Musk described on Twitter as a transition “from production hell to delivery logistics hell.”

Musk’s tweets have proven to be a source of contention for investors. He and Tesla were fined $20 million each last year over a tweet in which the former said he had “funding secured” for a deal to take Tesla private at $420 a share. The Securities and Exchange Commission claimed he had misled investors.

Then, earlier this year, regulatory issues returned to haunt the company and its boss, after the SEC asked a judge to hold him in contempt for violating its settlement deal by making an “inaccurate” February 19 tweet about production.

Musk has continued to use Twitter to make announcements related to the company. Just overnight, Musk said Tesla would unveil its highly anticipated Model Y SUV on March 14.


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: ryan browne, getty images
Keywords: news, cnbc, companies, analyst, things, twitter, musk, elon, bigger, company, tesla, told, houchois, doing, boss, dream, deal


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China’s role in 5G ‘much bigger’ than Huawei, British spy chief says

Security agencies must work with governments to understand the opportunities and threats presented by Chinese technologies, the head of a British intelligence service said on Monday. Speaking at a summit in Singapore, Jeremy Fleming, director of U.K. cybersecurity agency GCHQ (Government Communications Headquarters), said countries that qualified as “cyber powers” had a responsibility to protect their citizens from external threats. “A nation is a cyber power if it is able to direct or influence


Security agencies must work with governments to understand the opportunities and threats presented by Chinese technologies, the head of a British intelligence service said on Monday. Speaking at a summit in Singapore, Jeremy Fleming, director of U.K. cybersecurity agency GCHQ (Government Communications Headquarters), said countries that qualified as “cyber powers” had a responsibility to protect their citizens from external threats. “A nation is a cyber power if it is able to direct or influence
China’s role in 5G ‘much bigger’ than Huawei, British spy chief says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: chloe taylor, roslan rahman, afp, getty images
Keywords: news, cnbc, companies, 5g, uk, british, work, huawei, threats, bigger, role, understand, chief, protect, cyber, citizens, threatsa, technologies, spy, chinas, world


China's role in 5G 'much bigger' than Huawei, British spy chief says

Security agencies must work with governments to understand the opportunities and threats presented by Chinese technologies, the head of a British intelligence service said on Monday.

Speaking at a summit in Singapore, Jeremy Fleming, director of U.K. cybersecurity agency GCHQ (Government Communications Headquarters), said countries that qualified as “cyber powers” had a responsibility to protect their citizens from external threats.

“A nation is a cyber power if it is able to direct or influence the behavior of others in cyberspace … It has to be world class in safeguarding the cyberhealth of its citizens, businesses, and institutions — it must protect the digital homeland,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: chloe taylor, roslan rahman, afp, getty images
Keywords: news, cnbc, companies, 5g, uk, british, work, huawei, threats, bigger, role, understand, chief, protect, cyber, citizens, threatsa, technologies, spy, chinas, world


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China’s role in 5G ‘much bigger’ than Huawei, British spy chief says

Security agencies must work with governments to understand the opportunities and threats presented by Chinese technologies, the head of a British intelligence service said on Monday. Speaking at a summit in Singapore, Jeremy Fleming, director of U.K. cybersecurity agency GCHQ (Government Communications Headquarters), said countries that qualified as “cyber powers” had a responsibility to protect their citizens from external threats. “A nation is a cyber power if it is able to direct or influence


Security agencies must work with governments to understand the opportunities and threats presented by Chinese technologies, the head of a British intelligence service said on Monday. Speaking at a summit in Singapore, Jeremy Fleming, director of U.K. cybersecurity agency GCHQ (Government Communications Headquarters), said countries that qualified as “cyber powers” had a responsibility to protect their citizens from external threats. “A nation is a cyber power if it is able to direct or influence
China’s role in 5G ‘much bigger’ than Huawei, British spy chief says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: chloe taylor, roslan rahman, afp, getty images
Keywords: news, cnbc, companies, 5g, uk, british, work, huawei, threats, bigger, role, understand, chief, protect, cyber, citizens, threatsa, technologies, spy, chinas, world


China's role in 5G 'much bigger' than Huawei, British spy chief says

Security agencies must work with governments to understand the opportunities and threats presented by Chinese technologies, the head of a British intelligence service said on Monday.

Speaking at a summit in Singapore, Jeremy Fleming, director of U.K. cybersecurity agency GCHQ (Government Communications Headquarters), said countries that qualified as “cyber powers” had a responsibility to protect their citizens from external threats.

“A nation is a cyber power if it is able to direct or influence the behavior of others in cyberspace … It has to be world class in safeguarding the cyberhealth of its citizens, businesses, and institutions — it must protect the digital homeland,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: chloe taylor, roslan rahman, afp, getty images
Keywords: news, cnbc, companies, 5g, uk, british, work, huawei, threats, bigger, role, understand, chief, protect, cyber, citizens, threatsa, technologies, spy, chinas, world


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Here’s who is most likely to get a bigger tax refund this year

Even if you haven’t started on your 2018 return, you’ve probably heard this tax year’s horror story: lower-than-anticipated refund checks or the possibility you will owe the IRS. This tax year holds surprises for many individuals after the implementation of the Tax Cuts and Jobs Act. The likely candidates: individuals who make estimated quarterly payments to the IRS. Those people tend to base their quarterly estimated tax payments on the previous year. So if they paid based off of tax year 2017,


Even if you haven’t started on your 2018 return, you’ve probably heard this tax year’s horror story: lower-than-anticipated refund checks or the possibility you will owe the IRS. This tax year holds surprises for many individuals after the implementation of the Tax Cuts and Jobs Act. The likely candidates: individuals who make estimated quarterly payments to the IRS. Those people tend to base their quarterly estimated tax payments on the previous year. So if they paid based off of tax year 2017,
Here’s who is most likely to get a bigger tax refund this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: lorie konish, minerva studio, getty images
Keywords: news, cnbc, companies, steffen, paid, checks, youve, quarterly, refund, payments, estimated, individuals, likely, heres, bigger, tax


Here's who is most likely to get a bigger tax refund this year

Even if you haven’t started on your 2018 return, you’ve probably heard this tax year’s horror story: lower-than-anticipated refund checks or the possibility you will owe the IRS.

This tax year holds surprises for many individuals after the implementation of the Tax Cuts and Jobs Act.

So far, average refunds are down 8.4 percent from the same time last year, to about $1,865.

Yet some individuals still stand to receive bigger checks than they did last year.

“They’re going to be wondering what everyone’s complaining about,” said Tim Steffen, director of advanced planning at Baird Private Wealth Management.

The likely candidates: individuals who make estimated quarterly payments to the IRS. That predominantly includes retirees, business owners and other individuals whose income is not withheld for tax purposes.

Those people tend to base their quarterly estimated tax payments on the previous year. So if they paid based off of tax year 2017, they likely paid too much, according to Steffen.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: lorie konish, minerva studio, getty images
Keywords: news, cnbc, companies, steffen, paid, checks, youve, quarterly, refund, payments, estimated, individuals, likely, heres, bigger, tax


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Boeing just hit a record, and one trader sees an even bigger rally despite its surging price

“Any way you slice it here … we do like Boeing,” Susquehanna’s Stacey Gilbert said Tuesday on CNBC’s “Trading Nation.” “This was basically your poster child for the China trade tensions. Whenever there was a negative headline, … Boeing stock always declined. However, given the stock’s record and recent run, he wouldn’t chase it at current levels. Also Tuesday, Bernstein analyst Douglas Harned raised his target on Boeing to $459, a 12 percent upside from current levels.


“Any way you slice it here … we do like Boeing,” Susquehanna’s Stacey Gilbert said Tuesday on CNBC’s “Trading Nation.” “This was basically your poster child for the China trade tensions. Whenever there was a negative headline, … Boeing stock always declined. However, given the stock’s record and recent run, he wouldn’t chase it at current levels. Also Tuesday, Bernstein analyst Douglas Harned raised his target on Boeing to $459, a 12 percent upside from current levels.
Boeing just hit a record, and one trader sees an even bigger rally despite its surging price Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: pippa stevens
Keywords: news, cnbc, companies, trade, trader, boeing, pattern, stock, despite, price, surging, hit, gilbert, stocks, analyst, wouldnt, record, sees, rally, bigger, tensions


Boeing just hit a record, and one trader sees an even bigger rally despite its surging price

Boeing takes off from December lows to soar to new record 4 Hours Ago | 04:14

There are stocks that have bounced back from their day-after Christmas lows, and then there’s Boeing.

Shares of the aviation giant have soared 40 percent since its Dec. 26 low and 27 percent this year as of Tuesday’s close, when the stock broke above $400 for the first time ever to a record high. It was up nearly 1 percent in Wednesday’s premarket, at $413.66.

The surge may have some investors fearing they missed out on the rally. But one trader says there’s still plenty of runway ahead.

“Any way you slice it here … we do like Boeing,” Susquehanna’s Stacey Gilbert said Tuesday on CNBC’s “Trading Nation.”

She cites three key reasons for why she’s bullish on the stock: momentum and demand for the 737 aircraft, strength in the services sector, and a diversification in the business model thanks to a push into the defense sector.

Boeing slid more than 13 percent in the last quarter amid fears over a trade war. But Gilbert says she likes the stock despite the uncertainty over when, or even if, a trade truce with China will take place.

“This was basically your poster child for the China trade tensions. Whenever there was a negative headline, … Boeing stock always declined. This is a name that we do like even with those tensions. If tensions cause a pullback we would certainly look to add to positions here,” she said. She also noted that based on the bets options traders are making, the overall market sentiment “continues to be bullish.”

Susquehanna analyst Charles Minervino initiated coverage on Boeing with a positive rating last month. His $453 price target implies a 10 percent jump from Tuesday’s close.

Boeing has surged more than 12 percent over the last week following a blowout fourth-quarter earnings report.

The company reported results that handily topped analyst expectations, helped by a record 806 aircraft delivered. It also posted a record $101 billion in annual revenue, breaking the $100 billion mark for the first time.

Like Gilbert, Miller Tabak’s Matt Maley believes the company’s fundamentals remain strong. However, given the stock’s record and recent run, he wouldn’t chase it at current levels.

“Great move, all-time high. That’s the kind of breakout you want to see. But on a very short-term basis nothing moves in a straight line. We would like to see, it would actually be healthy, if the stock [were] to pull back here and then take another shot at trying to break out of the top end of that pattern,” he said.

He’s referring to a “megaphone pattern,” formed when a stock swings in both directions and when each swing is larger than the last. It can portend a period of increased volatility for a stock. In addition to Boeing testing the high-end of its megaphone pattern, Maley also said the stock looks overbought on a relative strength basis.

But in the longer view, he notes that the stock’s recovery has outpaced the broader market’s recovery, suggesting positive momentum from a technical standpoint.

“I wouldn’t necessarily chase up here over the near term. It’s one that should be bought on weakness. But on a long-term basis the stock looks great on the charts.”

Also Tuesday, Bernstein analyst Douglas Harned raised his target on Boeing to $459, a 12 percent upside from current levels.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: pippa stevens
Keywords: news, cnbc, companies, trade, trader, boeing, pattern, stock, despite, price, surging, hit, gilbert, stocks, analyst, wouldnt, record, sees, rally, bigger, tensions


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Snap’s improved quarter can’t hide ‘a deeper, way bigger issue’

Doug Anmuth, a J.P. Morgan internet analyst, cited management retention as one of the issues for caution over Snap’s future. She knows the company really well, has been with us for a long-time. So I think the teams really evolved and I think ready for the next stage of growth.” Spiegel replied, “On the senior team, we are really focused on the CFO role and also on the marketing role. In terms of Snap’s ability to recruit talent in the highest ranks of its company, Cappelli noted the company coul


Doug Anmuth, a J.P. Morgan internet analyst, cited management retention as one of the issues for caution over Snap’s future. She knows the company really well, has been with us for a long-time. So I think the teams really evolved and I think ready for the next stage of growth.” Spiegel replied, “On the senior team, we are really focused on the CFO role and also on the marketing role. In terms of Snap’s ability to recruit talent in the highest ranks of its company, Cappelli noted the company coul
Snap’s improved quarter can’t hide ‘a deeper, way bigger issue’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: noah higgins-dunn, matt winkelmeyer, getty images, source, marlene awaad, bloomberg, frederick florin, afp, todd haselton, albin lohr-jones
Keywords: news, cnbc, companies, way, improved, hide, think, issue, wrote, bigger, snap, look, deeper, leadership, team, company, snaps, quarter, role, really, cant


Snap's improved quarter can't hide 'a deeper, way bigger issue'

Leadership turnover was not the No. 1 issue for analysts on the earnings call. There are core business challenges that remain, including Snap’s competition against Facebook apps. And its list of competitors is growing, according to the company’s own filings.

Bank of America’s Justin Post wrote after the earnings that the improvement was an important step but still “far from a victory.” He added, “Our survey work suggests Snap still has high levels of churn, while we continue to think Instagram and Whataspp will be difficult to displace in international markets even with an improved app.”

Leadership didn’t come up on the call until the tenth analyst in the queue got a chance to pose a question.

Doug Anmuth, a J.P. Morgan internet analyst, cited management retention as one of the issues for caution over Snap’s future. He asked Spiegel about Snap’s recruiting and retention efforts given recent departures.

On the continuing CFO search, Spiegel said, “I think as we look forward to CFO roles, a critical role for us, I think we are really fortunate to have Lara in the interim role right now. She knows the company really well, has been with us for a long-time. So that really gives us the flexibility to take our time with the search and really get it right.” He added, “I think if we look at this, the development over the leadership team over the last year, it’s made a massive difference in the business and also for me personally because now I’m freed up to do the things I really love to do on the product side. So I think the teams really evolved and I think ready for the next stage of growth.”

Snap declined to comment to CNBC beyond Spiegel’s answers on the call.

Jefferies’ Thill wasn’t satisfied by the Snap CEO’s answer, and he pressed the question about turnover later on the call.

“I just want to go back to the developing team and culture, there have been a lot of changes. I’m just curious if you could comment on what percent of the change you think you’re through in the senior team?”

Spiegel replied, “On the senior team, we are really focused on the CFO role and also on the marketing role. So those are the two priorities for me. Most of the changes we made over the past year, year and half as we look sort of forward towards the business scaling, I’m really happy with the way the teams come together and the way they’re working together. So those are related to focus areas for us.”

While the stock has doubled from its 52-week low, even with the rally on Wednesday Snap shares remain far below its $17 per share IPO offering price, and below its stock market high of $26 on its first day of trading after its March 2017 IPO.

Peter Cappelli, a professor of management and director of the center for human resources at The Wharton School, wrote in an email that a revolving door on the leadership level could signal lack of agreement between people in power. However, the skills needed to turn a start-up company into a mid-sized company can be different, and some could simply outgrow their leaders.

In terms of Snap’s ability to recruit talent in the highest ranks of its company, Cappelli noted the company could have some advantages over competitors. “I think the benefit for any executive is being able to work on something that is new and emerging and also to be able to put your stamp on something, to show that what you did really mattered,” Capelli wrote.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: noah higgins-dunn, matt winkelmeyer, getty images, source, marlene awaad, bloomberg, frederick florin, afp, todd haselton, albin lohr-jones
Keywords: news, cnbc, companies, way, improved, hide, think, issue, wrote, bigger, snap, look, deeper, leadership, team, company, snaps, quarter, role, really, cant


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