Corporate America’s diversity and inclusion efforts are still failing black employees, new report says

According to the data, black professionals are four times as likely as white professionals to experience prejudice at work. The report finds these microaggressions continue even as black professionals take on more responsibility, gain leadership positions and climb the ranks in their career. In fact, for some professionals, they increase as they become the only black executive at work. According to the data, fewer than one in three black full-time professionals say they have access to senior lea


According to the data, black professionals are four times as likely as white professionals to experience prejudice at work.
The report finds these microaggressions continue even as black professionals take on more responsibility, gain leadership positions and climb the ranks in their career.
In fact, for some professionals, they increase as they become the only black executive at work.
According to the data, fewer than one in three black full-time professionals say they have access to senior lea
Corporate America’s diversity and inclusion efforts are still failing black employees, new report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: courtney connley
Keywords: news, cnbc, companies, according, work, failing, executive, report, inclusion, diversity, professionals, americas, white, ceo, corporate, say, employees, efforts, opportunity, black


Corporate America's diversity and inclusion efforts are still failing black employees, new report says

Roughly one in three black professionals aspire to hold an executive position at work, and nearly two in three consider themselves to be “very ambitious” when it comes to their career, according to a recently released report from the Center for Talent Innovation titled “Being Black in Corporate America.” Yet, despite this ambition and drive, black professionals today hold just 3.2% of executive and senior manager positions and less than 1% of Fortune 500 CEO spots. “It’s embarrassing because there are thousands of [black] people who are just as qualified or more qualified than I am who deserve the opportunity, but haven’t been given the opportunity,” Kenneth Chenault, former chairman and CEO of American Express, says in the report.

American Express chairman and CEO Kenneth Chenault Getty Images

Chenault, who stepped down from his executive role in 2018, was appointed the CEO of American Express in 2001. With his departure, there are now just four African-Americans who hold CEO titles at Fortune 500 companies, and all of them are men. The report, which is sponsored by several companies including Johnson & Johnson, Morgan Stanley and The Walt Disney Company, explores why there is such a scarcity of black professionals at the top. Currently, according to the report, 10% of college degree holders in the United States are black. The report says based off this rate of degree completion, there should be 50 black CEOs at the top of Fortune 500 companies.

What employers can do to bridge the leadership gap

To offer a solution to this gap, researchers say employers must first do an audit on the culture of their company “to get an accurate picture of their workforce’s understanding of systemic racism, privilege and black identity.” According to the data, black professionals are four times as likely as white professionals to experience prejudice at work. In many cases, this behavior is displayed in the form of microaggressions that include comments or actions that dismiss or downplay a person’s experience. The report finds these microaggressions continue even as black professionals take on more responsibility, gain leadership positions and climb the ranks in their career. In fact, for some professionals, they increase as they become the only black executive at work. Researchers of the report note: “Many times, black professionals are perceived as less capable, leading colleagues to automatically assume those who have reached leadership ranks are more junior in the organization, or to comment, ‘You’re so articulate.'”

Tired businessman working late on laptop while sitting at illuminated desk in office Luis Alvarez | DigitalVision | Getty Images

In addition to dealing with microaggressions, many black professionals say they also feel their ideas are less supported than those of their white colleagues, and they feel they have less access to growth opportunities. According to the data, fewer than one in three black full-time professionals say they have access to senior leaders, compared to close to half of white professionals. As stated in the report: “No wonder, then, that black professionals are frustrated with advancement — they don’t have the same opportunity as their white counterparts to forge relationships with key decision makers.” As a result, black employees are 30% more likely than white employees to leave their company.

Broad diversity and inclusion initiatives aren’t enough


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: courtney connley
Keywords: news, cnbc, companies, according, work, failing, executive, report, inclusion, diversity, professionals, americas, white, ceo, corporate, say, employees, efforts, opportunity, black


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Saudi Aramco is called a ‘polarizing stock’ as investors question its independence

Saudi state-owned oil giant Saudi Aramco is set to become a “polarizing stock,” with analysts flagging corporate governance as a key risk for investors. Quite a polarizing stock, frankly. Saudi Aramco, the world’s largest initial public offering (IPO), debuted on the country’s stock exchange on Wednesday morning. Quite a polarizing stock, frankly. Geopolitical risks include instability in the region, with Molchanov flagging the attacks on Saudi Aramco oil facilities in September that shut down h


Saudi state-owned oil giant Saudi Aramco is set to become a “polarizing stock,” with analysts flagging corporate governance as a key risk for investors.
Quite a polarizing stock, frankly.
Saudi Aramco, the world’s largest initial public offering (IPO), debuted on the country’s stock exchange on Wednesday morning.
Quite a polarizing stock, frankly.
Geopolitical risks include instability in the region, with Molchanov flagging the attacks on Saudi Aramco oil facilities in September that shut down h
Saudi Aramco is called a ‘polarizing stock’ as investors question its independence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: weizhen tan
Keywords: news, cnbc, companies, stock, governance, called, oil, investors, question, public, aramco, polarizing, molchanov, corporate, saudi, frankly, independence


Saudi Aramco is called a 'polarizing stock' as investors question its independence

“How do we invest in a company that … is 98% owned by the Saudi government, where the Saudi royal family calls all the shots? It does not matter what independent investors or independent board members think, frankly,” he told CNBC’s “Squawk Box” on Thursday.

The Saudi royal family “calls all the shots,” pointed out Pavel Molchanov, an energy analyst at investment bank Raymond James.

Saudi state-owned oil giant Saudi Aramco is set to become a “polarizing stock,” with analysts flagging corporate governance as a key risk for investors.

It is a very unique, very special situation. Quite a polarizing stock, frankly. Some people love it, and some people will never own it.

Aramco’s debut, which listed 1.5% of its shares locally on the Saudi Tadawul, is the biggest on record — topping the $25 billion Alibaba raised when it went public in September 2014.

Saudi Aramco, the world’s largest initial public offering (IPO), debuted on the country’s stock exchange on Wednesday morning.

Amin H. Nasser, President and CEO of Aramco, rings the bell during the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s stock market, in Riyadh, Saudi Arabia, December 11, 2019.

Saudi Aramco eventually plans to list on international exchanges, said Molchanov. But even if that brings in more foreign money, those governance and geopolitical risks mean that it’s “not for everybody,” he added.

“It is a very unique, very special situation. Quite a polarizing stock, frankly. Some people love it, and some people will never own it,” he said.

Geopolitical risks include instability in the region, with Molchanov flagging the attacks on Saudi Aramco oil facilities in September that shut down half the kingdom’s total oil production.

John Driscoll, chief strategist at JTD Energy Services, said that incident “highlighted the vulnerability of the infrastructure.”

“Although the Saudis did recover, that becomes a concern. And then just general Mid East geopolitics and the potential for upheavals and dislocations, that gets factored in,” he said.

Meanwhile, Bernstein initiated coverage on Aramco with an “underperform” rating and a price target of 25.5 riyals per share. That represents a more than 27% decline from its Wednesday closing price of 35.20 riyals a share.

The stock had surged 10%, hitting the daily limit, in its first day of trading.

Bernstein analysts in their note also flagged the corporate governance issue as a risk.

“Aramco should trade at a discount rather than premium to international oil majors. Corporate governance has been identified as the key risk for investors, given that the (Kingdom of Saudi Arabia) will continue to own >98% of Aramco,” they wrote.

— CNBC’s Natasha Turak and Eustance Huang contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: weizhen tan
Keywords: news, cnbc, companies, stock, governance, called, oil, investors, question, public, aramco, polarizing, molchanov, corporate, saudi, frankly, independence


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Saudi Aramco is called a ‘polarizing stock’ as investors question its independence

Saudi state-owned oil giant Saudi Aramco is set to become a “polarizing stock,” with analysts flagging corporate governance as a key risk for investors. Quite a polarizing stock, frankly. Saudi Aramco, the world’s largest initial public offering (IPO), debuted on the country’s stock exchange on Wednesday morning. Quite a polarizing stock, frankly. Geopolitical risks include instability in the region, with Molchanov flagging the attacks on Saudi Aramco oil facilities in September that shut down h


Saudi state-owned oil giant Saudi Aramco is set to become a “polarizing stock,” with analysts flagging corporate governance as a key risk for investors.
Quite a polarizing stock, frankly.
Saudi Aramco, the world’s largest initial public offering (IPO), debuted on the country’s stock exchange on Wednesday morning.
Quite a polarizing stock, frankly.
Geopolitical risks include instability in the region, with Molchanov flagging the attacks on Saudi Aramco oil facilities in September that shut down h
Saudi Aramco is called a ‘polarizing stock’ as investors question its independence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: weizhen tan
Keywords: news, cnbc, companies, public, frankly, molchanov, stock, called, investors, governance, saudi, polarizing, oil, corporate, aramco, question, independence


Saudi Aramco is called a 'polarizing stock' as investors question its independence

“How do we invest in a company that … is 98% owned by the Saudi government, where the Saudi royal family calls all the shots? It does not matter what independent investors or independent board members think, frankly,” he told CNBC’s “Squawk Box” on Thursday.

The Saudi royal family “calls all the shots,” pointed out Pavel Molchanov, an energy analyst at investment bank Raymond James.

Saudi state-owned oil giant Saudi Aramco is set to become a “polarizing stock,” with analysts flagging corporate governance as a key risk for investors.

It is a very unique, very special situation. Quite a polarizing stock, frankly. Some people love it, and some people will never own it.

Aramco’s debut, which listed 1.5% of its shares locally on the Saudi Tadawul, is the biggest on record — topping the $25 billion Alibaba raised when it went public in September 2014.

Saudi Aramco, the world’s largest initial public offering (IPO), debuted on the country’s stock exchange on Wednesday morning.

Amin H. Nasser, President and CEO of Aramco, rings the bell during the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s stock market, in Riyadh, Saudi Arabia, December 11, 2019.

Saudi Aramco eventually plans to list on international exchanges, said Molchanov. But even if that brings in more foreign money, those governance and geopolitical risks mean that it’s “not for everybody,” he added.

“It is a very unique, very special situation. Quite a polarizing stock, frankly. Some people love it, and some people will never own it,” he said.

Geopolitical risks include instability in the region, with Molchanov flagging the attacks on Saudi Aramco oil facilities in September that shut down half the kingdom’s total oil production.

John Driscoll, chief strategist at JTD Energy Services, said that incident “highlighted the vulnerability of the infrastructure.”

“Although the Saudis did recover, that becomes a concern. And then just general Mid East geopolitics and the potential for upheavals and dislocations, that gets factored in,” he said.

Meanwhile, Bernstein initiated coverage on Aramco with an “underperform” rating and a price target of 25.5 riyals per share. That represents a more than 27% decline from its Wednesday closing price of 35.20 riyals a share.

The stock had surged 10%, hitting the daily limit, in its first day of trading.

Bernstein analysts in their note also flagged the corporate governance issue as a risk.

“Aramco should trade at a discount rather than premium to international oil majors. Corporate governance has been identified as the key risk for investors, given that the (Kingdom of Saudi Arabia) will continue to own >98% of Aramco,” they wrote.

— CNBC’s Natasha Turak and Eustance Huang contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: weizhen tan
Keywords: news, cnbc, companies, public, frankly, molchanov, stock, called, investors, governance, saudi, polarizing, oil, corporate, aramco, question, independence


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In 2019, almost every investment worked

The S&P 500 is up more than 25% and counting. Treasurys, which tend to fall when risk assets rally, also gained in 2019. For stock investors specifically, it was hard to guess wrong. A look at the S&P 500 companies’ internal performance shows only 64 names, or 12%, are down this year. All 11 S&P 500 sectors are ending the year with positive returns.


The S&P 500 is up more than 25% and counting.
Treasurys, which tend to fall when risk assets rally, also gained in 2019.
For stock investors specifically, it was hard to guess wrong.
A look at the S&P 500 companies’ internal performance shows only 64 names, or 12%, are down this year.
All 11 S&P 500 sectors are ending the year with positive returns.
In 2019, almost every investment worked Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: yun li
Keywords: news, cnbc, companies, sectors, investment, 500, rates, investors, 2019, stock, sheet, markets, corporate, worked, returns


In 2019, almost every investment worked

Traders work on the floor of the New York Stock Exchange Lucas Jackson | Reuters

This year is shaping up to be one of the best ever for investors of all stripes with nearly every single asset class on track to finish 2019 in the green. From stocks to government debt to corporate bonds to commodities, no matter where you went, you reaped a profit this year. The S&P 500 is up more than 25% and counting. Treasurys, which tend to fall when risk assets rally, also gained in 2019. Oil, gold and corporate bonds all scored double-digit returns. For stock investors specifically, it was hard to guess wrong. A look at the S&P 500 companies’ internal performance shows only 64 names, or 12%, are down this year. All 11 S&P 500 sectors are ending the year with positive returns. Tech is the biggest winner this year with a 41.5% gain. Communication services, industrials, financials, real estate, consumer sectors all skyrocketed more than 20% this year.

‘Buy everything’

It might seem a little too good to be true as the markets have been grappling with a handful of risks that are almost unprecedented — a costly trade war with China and a bid to impeach the president. But thanks to the Federal Reserve for coming to the rescue. The central bank pulled a 180, cutting rates three straight times this year. The Fed has also been pumping billions into the financial system after the mid-September tumult in very short-term lending markets. “We’ve gotten three rate cuts as we know and a dramatic rise in the size of their balance sheet in a very short period of time,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. The markets “see an expansion of the Fed’s balance sheet to the extent it’s grown and the only response is, it’s QE. Buy everything.” The stimulus has lowered interest rates, pushing all assets up at the same time.

Will the markets hold up?


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: yun li
Keywords: news, cnbc, companies, sectors, investment, 500, rates, investors, 2019, stock, sheet, markets, corporate, worked, returns


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A top JP Morgan banker says CEOs tell him they are worried about 2020 despite stocks’ record highs

The stock market has been hitting record high levels day after day, but that doesn’t mean corporate CEOs are bullish about next year, according to J.P. Morgan Chase regional investment banking head John Richert. Instead, CEOs are worried about delivering earnings growth amid increasingly uncertain times, thanks to slowing growth around the world, the U.S.-China trade dispute and upcoming U.S. presidential election. As a result, most of the CEOs Richert speaks with are reining in capital spending


The stock market has been hitting record high levels day after day, but that doesn’t mean corporate CEOs are bullish about next year, according to J.P. Morgan Chase regional investment banking head John Richert.
Instead, CEOs are worried about delivering earnings growth amid increasingly uncertain times, thanks to slowing growth around the world, the U.S.-China trade dispute and upcoming U.S. presidential election.
As a result, most of the CEOs Richert speaks with are reining in capital spending
A top JP Morgan banker says CEOs tell him they are worried about 2020 despite stocks’ record highs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: hugh son
Keywords: news, cnbc, companies, morgan, uncertainty, banker, increasingly, corporate, stocks, record, stock, richert, spending, highs, ceos, companies, recession, tell, worried, despite


A top JP Morgan banker says CEOs tell him they are worried about 2020 despite stocks' record highs

The stock market has been hitting record high levels day after day, but that doesn’t mean corporate CEOs are bullish about next year, according to J.P. Morgan Chase regional investment banking head John Richert.

Instead, CEOs are worried about delivering earnings growth amid increasingly uncertain times, thanks to slowing growth around the world, the U.S.-China trade dispute and upcoming U.S. presidential election. As a result, most of the CEOs Richert speaks with are reining in capital spending for 2020 and modeling how a possible recession will impact their business, he said.

“Everybody looks at the stock market and sees share prices going through the roof right now, but few of the CEOs I talk to feel good about that,” Richert said. “There is an increased worry about their ability to deliver results amid prolonged periods of uncertainty next year.”

The uncertainty for corporate leaders about 2020 and beyond has created an unusual situation: While CEO confidence is at the lowest in a decade, consumers are relatively optimistic, buoyed by wage gains and unemployment levels near 50-year lows, according to the non-profit Conference Board. Consumer spending has helped keep the U.S. economy out of recession, despite the impact of tariffs, but its unclear how long that will last.

Regardless of how that tension resolves, CEO anxiety over the future has translated into a record level of engagements with corporate clients, said Richert, who focuses on companies that generate $500 million to $5 billion in annual revenue.

The pipeline for potential deals in his group is the highest it’s ever been, Richert said, and his bankers are increasingly being called to examine companies’ capital plans and offer strategic possibilities like divesting non-core businesses.

“There’s a lot of discussions among industry players to figure out the best way to put companies together,” he said. For the mid-cap companies under his purview, Richert said that CEOs are increasingly examining so-called “mergers of equals” to scale up and help firms weather a future downturn.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: hugh son
Keywords: news, cnbc, companies, morgan, uncertainty, banker, increasingly, corporate, stocks, record, stock, richert, spending, highs, ceos, companies, recession, tell, worried, despite


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The Dallas Fed president believes ballooning debt could suddenly become a big issue for economy

Dallas Federal Reserve President Robert Kaplan is worried about ballooning levels of corporate debt and laid out a scenario where it could suddenly become a big problem for the economy. “We’re got a record level of corporate and to be specific BBB debt has tripled over the last 10 years,” he said on “Squawk Box.” Total corporate debt has swelled from about $5 trillion in 2007 as the Great Recession was just beginning to $9.5 trillion halfway through 2019, quietly surging 90%, according to Securi


Dallas Federal Reserve President Robert Kaplan is worried about ballooning levels of corporate debt and laid out a scenario where it could suddenly become a big problem for the economy.
“We’re got a record level of corporate and to be specific BBB debt has tripled over the last 10 years,” he said on “Squawk Box.”
Total corporate debt has swelled from about $5 trillion in 2007 as the Great Recession was just beginning to $9.5 trillion halfway through 2019, quietly surging 90%, according to Securi
The Dallas Fed president believes ballooning debt could suddenly become a big issue for economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: thomas franck
Keywords: news, cnbc, companies, suddenly, company, ballooning, dallas, believes, big, rates, trillion, economy, bonds, widening, corporate, worried, debt, kaplan, credit, president, fed, issue


The Dallas Fed president believes ballooning debt could suddenly become a big issue for economy

Dallas Federal Reserve President Robert Kaplan is worried about ballooning levels of corporate debt and laid out a scenario where it could suddenly become a big problem for the economy.

“The thing I am worried about is if you get two or three BBB-credit downgrades to BB or B, that could lead to a rapid widening in credit spreads, which could then lead to a rapid tightening in financial conditions,” Kaplan said in a Tuesday interview with CNBC’s Steve Liesman.

“We’re got a record level of corporate and to be specific BBB debt has tripled over the last 10 years,” he said on “Squawk Box.” “Leveraged loans as well as BB- and B-debt have grown dramatically.”

Total corporate debt has swelled from about $5 trillion in 2007 as the Great Recession was just beginning to $9.5 trillion halfway through 2019, quietly surging 90%, according to Securities Industry and Financial Markets Association data.

Investors have pointed to historically low interest rates both as the reason for the high levels of debt and justification for not panicking about its size just yet. The Fed has cut the overnight lending rate three times in 2020, most recently at its October meeting when it reduced the federal funds rate to a range between 1.5% and 1.75%.

But a sudden slide from low investment grade such a BBB-rated debt to junk quality could trigger concern over the credit markets and spark a widening in spreads. Investors usually see such divergence as a bad sign as higher-quality bonds, which have less chance of default offer lower interest rates while lower-quality bonds need to offer higher rates to entice investors.

General Electric has long been eyed as the largest company at risk of triggered such a domino effect, though company officials insist they are doing everything they can to prevent a credit downgrade.

Still, should a company that big slide, it could remold the high-yield market as investors would be counted on to snap up those bonds, but require even higher yields.

“The problem with ’08-’09 was that the lenders were over-leveraged. Right now, we have an issue where the borrowers are highly leveraged,” Kaplan added. “My concern is if you have a downturn where we grow more slowly it means that this amount of debt could be an amplifier.”


Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: thomas franck
Keywords: news, cnbc, companies, suddenly, company, ballooning, dallas, believes, big, rates, trillion, economy, bonds, widening, corporate, worried, debt, kaplan, credit, president, fed, issue


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US futures point to a lower open as investors look ahead to Fed chair’s speech

ET, Dow futures fell 61 points, indicating a negative open of more than 52 points. Investors also reacted to a speech from President Donald Trump, when he said he wanted to reach a trade deal with China but offered no detail about how talks have evolved. Market players are therefore weighing the prospects of a trade deal between China and the U.S. Furthermore, investors are also waiting to hear from Federal Reserve Chairman, Jerome Powell, who will address the Joint Economic Committee at 11:00 a


ET, Dow futures fell 61 points, indicating a negative open of more than 52 points.
Investors also reacted to a speech from President Donald Trump, when he said he wanted to reach a trade deal with China but offered no detail about how talks have evolved.
Market players are therefore weighing the prospects of a trade deal between China and the U.S.
Furthermore, investors are also waiting to hear from Federal Reserve Chairman, Jerome Powell, who will address the Joint Economic Committee at 11:00 a
US futures point to a lower open as investors look ahead to Fed chair’s speech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: silvia amaro
Keywords: news, cnbc, companies, ahead, trade, open, federal, point, look, investors, trump, lower, deal, corporate, futures, chairs, speech, points, china, fed


US futures point to a lower open as investors look ahead to Fed chair's speech

U.S. stock index futures were lower Wednesday morning.

At around 01:50 a.m. ET, Dow futures fell 61 points, indicating a negative open of more than 52 points. Futures on the S&P and Nasdaq were both marginally higher.

Wall Street ended Tuesday on a higher note, on the back of corporate news. Investors also reacted to a speech from President Donald Trump, when he said he wanted to reach a trade deal with China but offered no detail about how talks have evolved. Trump also blamed previous U.S. administrations for letting China “cheat” on trade. Market players are therefore weighing the prospects of a trade deal between China and the U.S.

Furthermore, investors are also waiting to hear from Federal Reserve Chairman, Jerome Powell, who will address the Joint Economic Committee at 11:00 a.m. ET.

On the data front, there will be CPI numbers at 08:30 a.m. ET and Federal Budget figures released at 02:00 p.m. ET.

In corporate news, Tencent and Cisco Systems are due to report Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: silvia amaro
Keywords: news, cnbc, companies, ahead, trade, open, federal, point, look, investors, trump, lower, deal, corporate, futures, chairs, speech, points, china, fed


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The classic business book Gwyneth Paltrow read as a teenager that inspired her to start GOOP

This is like gaming, but with real people in real life,'” Paltrow told Reid Hoffman on the Masters of Scale podcast. The book details former RJR Nabisco CEO F. Ross Johnson’s attempt to take the company private in 1988 in order to buy it himself. Paltrow said the drama in the book, which was made into a made-for-TV movie by HBO in 1993, got her fascinated with the world of business. “So I always harbored this secret desire to somehow start a business,” Paltrow told Hoffman. In 2008, at the age o


This is like gaming, but with real people in real life,'” Paltrow told Reid Hoffman on the Masters of Scale podcast.
The book details former RJR Nabisco CEO F. Ross Johnson’s attempt to take the company private in 1988 in order to buy it himself.
Paltrow said the drama in the book, which was made into a made-for-TV movie by HBO in 1993, got her fascinated with the world of business.
“So I always harbored this secret desire to somehow start a business,” Paltrow told Hoffman.
In 2008, at the age o
The classic business book Gwyneth Paltrow read as a teenager that inspired her to start GOOP Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: jade scipioni
Keywords: news, cnbc, companies, teenager, ceo, book, business, inspired, gwyneth, paltrow, start, read, corporate, johnsons, goop, classic, world, york, wellness, rjr


The classic business book Gwyneth Paltrow read as a teenager that inspired her to start GOOP

In 1989, the same year a 17-year-old Gwyneth Paltrow made her acting debut in the TV movie “High,” she also read one of her first business books: “Barbarians at the Gate: The Fall of RJR Nabisco.”

The book — which was written by investigative journalists Bryan Burrough and John Helyar after they covered the fall of the American conglomerate that sold tobacco and food products in the late ’80s and early ‘ 90s — got Paltrow thinking about starting a company.

“I remember reading ‘Barbarians at the Gate’ when it came out and just being like, ‘This is incredible. This is like gaming, but with real people in real life,'” Paltrow told Reid Hoffman on the Masters of Scale podcast.

The book details former RJR Nabisco CEO F. Ross Johnson’s attempt to take the company private in 1988 in order to buy it himself. It set off a tumultuous bidding war as other companies fought to make their own offers. In the end, investment firm Kohlberg Kravis Roberts & Co. bought it for $25 billion. (At that time it was the largest corporate takeover in history.)

Despite Johnson’s failed attempt to buy the company, he walked away with a “golden parachute” payment of about $50 million, according to The Wall Street Journal. His unethical tactics throughout the process made him a symbol of corporate greed and corruption in the late ’80s.

Burrough and Helyar detailed Johnson’s free-spending as CEO: He used corporate funds to decorate his office with lavish items such as a $51,000 vase, a $36,000 end table and a $100,000 rug. He was also accused of jet-setting around the world using more than 10 corporate airplanes, which some dubbed the “RJR” Air Force, among other things.

Paltrow said the drama in the book, which was made into a made-for-TV movie by HBO in 1993, got her fascinated with the world of business.

“So I always harbored this secret desire to somehow start a business,” Paltrow told Hoffman.

Paltrow said at The New York Times DealBook event on Nov. 6 that despite growing up in an artsy household, where her father Bruce Paltrow was a film director and producer and her mother Blythe Danner was a Hollywood actress, she was always “very drawn to business.”

“I think it’s fascinating and very dramatic in and of itself. So I just always read about it. I always loved it,” Paltrow said.

Paltrow said that going to a prestigious, all-girls private school in Manhattan also had an influence.

“When I started to go to school with the daughters of some very prominent businessman, I started to ask a lot of questions,” Paltrow said.

In 2008, at the age of 36, Paltrow finally made a move toward starting her a business. She began sending a weekly email newsletter called Goop with lifestyle advice to her family and friends.

Goop has since morphed into a lifestyle brand, which sells its own beauty products, supplements and clothing. Goop also holds health wellness summits throughout the year in places like Los Angeles, New York City and London. Goop’s biweekly newsletter reportedly had 8 million subscribers in 2018 and is valued at $250 million.

Paltrow, 46, is now the company’s CEO, but in the beginning, she hired someone else to run the company.

“I just didn’t know what the f— I was doing,” Paltrow said at Dealbook, “So I thought I needed to outsource everything and I thought I needed a grown-up around me to, you know, tell me what to do.”

Paltrow soon realized though, that nobody actually knows what they are doing when launching a new product or service. And that realization has been the most interesting part of the whole process, she said.

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Inside Jennifer Aniston’s daily wellness routine, from celery juice to intermittent fasting


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: jade scipioni
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Corporate whistleblowers can make millions, and a select few are turning it into a business model

Earlier this year, Edward Siedle received the last chunk of his $68 million reward for blowing the whistle on wrongdoing by J.P. Morgan Chase. It was one of the largest awards ever given by the Securities and Exchange Commission and the Commodity Futures Trading Commission. The SEC whistleblower program was started after missteps by the agency were exposed in 2008. A whistleblower by the name of Harry Markopolos had tried to get the attention of the commission for a decade. The SEC’s inability t


Earlier this year, Edward Siedle received the last chunk of his $68 million reward for blowing the whistle on wrongdoing by J.P. Morgan Chase.
It was one of the largest awards ever given by the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The SEC whistleblower program was started after missteps by the agency were exposed in 2008.
A whistleblower by the name of Harry Markopolos had tried to get the attention of the commission for a decade.
The SEC’s inability t
Corporate whistleblowers can make millions, and a select few are turning it into a business model Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: tala hadavi
Keywords: news, cnbc, companies, model, select, received, markopolos, program, million, millions, turning, siedle, sec, whistleblower, corporate, whistleblowers, commission, hopes, business


Corporate whistleblowers can make millions, and a select few are turning it into a business model

Earlier this year, Edward Siedle received the last chunk of his $68 million reward for blowing the whistle on wrongdoing by J.P. Morgan Chase. It was one of the largest awards ever given by the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Siedle has spent the past 30 years providing the SEC with his findings from various forensic investigations. He has created a unique business model identifying fraud.

The SEC whistleblower program was started after missteps by the agency were exposed in 2008.

A whistleblower by the name of Harry Markopolos had tried to get the attention of the commission for a decade. He was trying to expose Bernie Madoff, the mastermind behind one of the most infamous Ponzi schemes in history. But, according to Markopolos, the commission ignored him.

The SEC’s inability to protect investors spurred an internal investigation and eventually a whistleblower program was launched in 2010. The SEC now provides financial awards ranging from 10% to 30% of the total recovery to whistleblowers in hopes of inspiring more people to come forward.

Since the program’s inception, 66 whistleblowers have helped the government recover $2 billion. In return, they’ve received $387 million for their contributions. And while the program has had some successes, the bounty and other parts of the program are under threat.

Watch the video above to find out more about Siedle, who currently has two ongoing claims with the SEC and hopes to file another one soon, and to learn more about the SEC whistleblower program.

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• How the U.S. lost its energy independence


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: tala hadavi
Keywords: news, cnbc, companies, model, select, received, markopolos, program, million, millions, turning, siedle, sec, whistleblower, corporate, whistleblowers, commission, hopes, business


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How corporate whistleblowers make millions

How corporate whistleblowers make millionsIn 2010, the SEC launched its whistleblower program. It consisted of three key pillars: anti-retaliation protections, employment protections and most importantly, a bounty, in the millions. To date, 66 whistleblowers have received $387M for blowing the whistle on corporate fraud. Meet Ted Siedle, one of the highest paid whistleblowers in program history. In June 2019, Ted got $68M for blowing the whistle on JP Morgan’s wrongdoing.


How corporate whistleblowers make millionsIn 2010, the SEC launched its whistleblower program.
It consisted of three key pillars: anti-retaliation protections, employment protections and most importantly, a bounty, in the millions.
To date, 66 whistleblowers have received $387M for blowing the whistle on corporate fraud.
Meet Ted Siedle, one of the highest paid whistleblowers in program history.
In June 2019, Ted got $68M for blowing the whistle on JP Morgan’s wrongdoing.
How corporate whistleblowers make millions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, siedle, whistleblower, blowing, millions, protections, whistleblowers, corporate, whistle, wrongdoing, program, ted


How corporate whistleblowers make millions

How corporate whistleblowers make millions

In 2010, the SEC launched its whistleblower program. It consisted of three key pillars: anti-retaliation protections, employment protections and most importantly, a bounty, in the millions. To date, 66 whistleblowers have received $387M for blowing the whistle on corporate fraud. Meet Ted Siedle, one of the highest paid whistleblowers in program history. In June 2019, Ted got $68M for blowing the whistle on JP Morgan’s wrongdoing.


Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, siedle, whistleblower, blowing, millions, protections, whistleblowers, corporate, whistle, wrongdoing, program, ted


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