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Marty Chavez, once seen as CEO candidate, to leave Goldman Sachs
September 2, 2019 | | Financial Times | by Laura Noonan in New York.
exits  Goldman_Sachs  Martin_Chavez 
10 weeks ago by jerryking
What’s Left After a Family Business Is Sold?
Aug. 9, 2019 | The New York Times | By Paul Sullivan

Having a pile of money after a company is sold, in place of a company, with all of its stress and complications, would seem like a relief. But a company often holds families together by giving members a shared identity and conferring a status in the community established by previous generations.

Without the company, the family’s perception of itself and its purpose can change, and it is often something that members are not prepared for. Their focus was on running the business and then on the sale; little thought went into what comes next......“The key to doing it successfully is how you prepare yourself and how you prepare your family. It’s really a lifestyle choice.”

If families do not do it right, splitting apart is almost inevitable. “A shared business becomes very much a glue,” ....“When the business is sold, what we see in almost every situation is some family member splits away.” .....Most advisers say the sale of a family business should focus on the transition from operating a company to managing a portfolio of money, not on the money itself. Sometimes the magnitude of the sale becomes an issue for a family’s identity, particularly if the acquisition price becomes public......some families focus more on the money than the traits that made the business successful, and fail to grasp the difference between an operating business and financial capital. ....years before the sale, the family had been formulating a plan for its wealth that focused on family values but also held the members accountable. A family scorecard, for example, tracks their progress on 40 items that the family has deemed important, including working hard, investing wisely and the protecting its legacy.
Mr. Deary said the family used the scorecard to objectively answer the question: “Are we constantly trying to get a little bit better every day at what we do?”

As the wealth stretches out and families grow, those values can become a substitute for the company.
.....continuing education about a family’s values, particularly when the company was gone, allowed successive generations to understand where their wealth came from.

Those values often work best when they are broad — honesty, integrity, hard work — and not so specific that family members chafe. “The loose binds bind best,”

Family relationships can suffer when there are no shared values but strong financial connections, like a large trust or partnership that manages the wealth.
accountability  exits  family  family_business  family_office  family_scorecards  family_values  generations  generational_wealth  heirs  liquidiy_events  money_management  purpose  relationships  Second_Acts  self-perception  unprepared  values  wealth_management 
10 weeks ago by jerryking
What will Apple do without Jony Ive?
June 27, 2019 | Financial Times | by Tim Bradshaw, Global Technology Correspondent.

Sir Jonathan prepares to move on from Apple to launch his own new venture, LoveFrom, after more than two decades at the Silicon Valley giant.....As a company worth nearly $1tn, Apple today is financially secure. But Sir Jonathan's looming departure will once again raise questions about its future. 

This is not the first time that Sir Jonathan’s role has evolved. In recent years, his design expertise has extended beyond crafting Apple’s pocketable devices. He helped retail chief Angela Ahrendts overhaul its stores, from fixtures such as its tree-lined “Genius Groves”, down to simplifying product packaging. 

More significantly, he oversaw the company’s long-planned move to its new headquarters, Apple Park, which was first conceived with Jobs back in 2004 and designed in partnership with British architects Foster + Partners.....Speaking at a Wired magazine event in 2018, he appeared to suggest that he was back for the long haul, saying: “There’s an awful lot to do and an awful lot of opportunity.” ....Apple Park...brought Apple’s entire design team together for the first time into one purpose-built studio, with industrial designers sitting side by side with font and interface designers......Perhaps the most important legacy that Jon Ive leaves . . . is the team.”.......By Apple’s outsized standards, the tight-knit group of people who work on product design is small. It runs to just a few dozen people out of an organisation that employs some 132,000 staff.....
Yet the team wields a disproportionate influence inside the Cupertino-based company. With an extensive array of tooling and fabrication equipment that is rarely found outside a manufacturing plant, the studio explores new product categories and the materials that might build them, from unique blends of aluminium to ceramics. 

They define not only a product’s appearance but how its software looks and feels, how it responds to gestures, even how an iPhone or Watch gently vibrates to give a user “haptic feedback”. 

“No group within Apple has more power than the industrial designers,” ......Jonathan Ive has thousands of patents to his name, encompassing the original iPod and iPhone to more obscure innovations, including the iPad’s magnetic cover, the Apple Store’s wooden tables and a lanyard used to attach an iPod to a wrist......Jonathan’s departure is likely to reopen a debate that has been simmering for several years — namely how will Apple come up with a new hit product that can match the unprecedented success of the iPhone, whose record-breaking profits propelled Apple to become the first trillion-dollar company last year........it may be that no single product ever will top the iPhone — for any tech company, not just Apple. It is a question that hangs over Silicon Valley as the industry casts around for a new platform, be it virtual reality or smart speakers, that might become as ubiquitous and essential as the smartphone.........Apple is also putting greater attention on an expanding portfolio of online services, including games, news and video........Tim Cook and Jonathan Ive have both pointed to healthcare as a potential new market for Apple, building on the Watch’s new capabilities for detecting heart irregularities.....Healthcare is just one example of how the battleground has changed for Apple in recent years. Despite pioneering virtual assistants with Siri, Apple found itself outflanked by Amazon’s Alexa and Google Assistant in both sales of smart speakers and artificial intelligence capabilities.

New blood at Apple

Some analysts believe that new blood could invigorate Apple’s response to these challenges. Alongside the high-profile departures of Ms Ahrendts and Sir Jonathan, Apple poached John Giannandrea from Google to become its head of machine learning and AI strategy, as well as Hollywood veterans Jamie Erlicht and Zack Van Amberg from Sony Pictures Television to run its push into original video. 

“The apparent acceleration in the pace of change within Apple at the executive level reflects the paradigm shift the company is undergoing from a hardware-driven story to ‘Apple as a service’,....... the most significant concern for investors will be that Sir Jonathan’s departure will take away another arbiter of focus and product direction that Apple had already lost with the death of Jobs.....Jonathan’s focus is growing beyond the steel and glass borders of Apple Park, saying he wants to “solve some complicated problems”. .....“One defining characteristics is almost a fanatical curiosity,” he said. “But if you don’t have the space, if you don’t have the tools and the infrastructure, that curiosity can often not have the opportunity to be pursued.”

LoveFrom itself defies traditional categorisation. “I have no interest in creating yet another design agency,” he said firmly. “What’s important is the values and what motivates that collection of people …Small groups of people, I think as Apple has demonstrated over the years, can do some extraordinary things.”

 

 

 
Alexa  Apple  Apple_IDs  Apple_Park  artificial_intelligence  breakthroughs  curiosity  design  departures  exits  Google_Assistant  haptics  healthcare  Jonathan_Ive  LoveFrom  new_categories  new_products  patents  services  Silicon_Valley  Siri  smart_speakers  subscriptions  teams  Tim_Cook  virtual_assistants 
june 2019 by jerryking
JAB’s Peter Harf: hire ambitious talent and give them a mission
February 16, 2019 | | Financial Times | by Leila Abboud and Arash Massoudi.

JAB oversees its portfolio of coffee, beverages, and casual dining companies. .....When everything was going wrong last year at Coty, the cosmetics company backed by investment group JAB Holdings, Peter Harf reacted with characteristic ruthlessness, replacing Coty’s chief financial officer and chief executive, and taking back the Coty chairmanship from his longtime associate, Bart Becht. Describing last year’s share price decline of more than 60% as “unacceptable” for JAB and its co-investors, Mr Harf says the situation “had to have serious consequences” even for his inner circle......Harf believes that identifying talented people — and incentivising them through performance-based pay — have been key to his success over his nearly 40-year career..... just as important to Harf is knowing when to jettison those who are no longer serving the mission he has overseen since he was 35: growing the wealth of Germany’s reclusive Reimann family who are behind JAB....Harf's vision was for JAB to be modelled on Berkshire Hathaway, the investment conglomerate built by his idol, Warren Buffett. Success would come not only from backing the right leaders but by patiently building brands, embarking on deals and taking companies public to cash in on bets....Harf felt he had assembled a dream team: “My mantra has always been that I need to hire people who are better than me. Lions hire lions and sheep hire other sheep.”

Three questions for Peter Harf
(1) Who is your leadership hero?

“Warren Buffett. Hands down. All this stuff that I intend to do to make JAB into a long-term investment vehicle, he does it to perfection. He’s the greatest investor in the world, and I want to be like him. If we invest as well as Warren, we’ve won. Very simple.”

(3) What was your first leadership lesson?

One of my biggest role models was Bruce Henderson, the founder of Boston Consulting Group. When I worked for him, I prepared a three-page analysis about a problem. It had 10 bullet points as the conclusion. He dismissed it as way too complicated and said: “Don’t try to field every ball.” He meant that if you wanted to be a good leader, you have to be able to focus on the important stuff first.
+++++++++++++++++++++++++++++++++++++++++++++++++++
The trouble often starts when leaders start listing five or seven or 11 priorities. As Jim Collins, the author of the best-selling management books “Good to Great” and “Built to Last,” is fond of saying: “If you have more than three priorities, you don’t have any.”
BCG  Berkshire_Hathaway  beverages  casual_dining  coffee  commitment  CPG  dealmakers  deal-making  departures  exits  family_office  family-owned_businesses  HBS  hiring  investors  JAB  Keurig  lifelong  mission-driven  private_equity  portfolio_management  ruthlessness  talent  troubleshooting  Warren_Buffett 
february 2019 by jerryking
Why People Ghost — and How to Get Over It - The New York Times
By Adam Popescu
Jan. 22, 2019

Ghosting — when someone cuts off all communication without explanation....happens across all social circumstances and it’s tied to the way we view the world......The pace of modern life makes it hard enough to maintain real life friendships; it’s impossible to actually be friends with everyone you’re supposedly simpatico with online......Growing apart can be a friendship’s natural evolution; ditto for lovers.....when you get ghosted, there’s no closure, so you question yourself and choices which sabotages self-worth and self-esteem.....ghosting a form of the silent treatment akin to emotional cruelty (the pain it causes can be treated with Tylenol, according to multiple studies). So, how do you avoid it in the first place?......be particularly choosy about who you tend to interact with,”....get a sense early on of what kind of individual you’re dealing with.”......watch how people treat others is a good indicator.......Ghosting has a lot to do with someone’s comfort level and how they deal with their emotions,” she added. “A lot of people anticipate that talking about how they feel is going to be a confrontation. That mental expectation makes people want to avoid things that make them uncomfortable.”.....the flip side [of ghosting] is a subset of the population looking for real connection. “People are craving authenticity,”...“Being vulnerable is the number one thing that creates intimacy between people and if you worry about being hurt all the time, you’re not able to be vulnerable and it affects the quality of connection.”....ghosting has a lot to do with how we feel about our future — or whether we think our mate is the “one,” which is a question of belief versus destiny. Either someone believes the relationship is capable of growing or they’re seeking an archetypal partner (what’s typically called a soul mate). “Individuals who have stronger destiny beliefs are more likely to ghost,”....remember if someone ghosts you that behavior says more about them than you,” Dr. Vilhauer said. “It’s about their discomfort. You have to keep trying.”.....modify how we reject people.....Don’t apologize, she said, but be honest about boundaries, whether it’s going to a movie with someone or spending the rest of your life together. Just be real. “The good middle ground is explicitly rejecting someone and telling them ‘no,’ not ‘I’m sorry,’”....Taking a risk to tell someone how you really feel — even if it’s not what they want to hear — has benefits. Self-esteem, stress, blood pressure, spending more time with people you care about. And getting that time back opens up self-discovery.
authenticity  avoidance  belief_systems  blindsided  breakups  clarity  Communicating_&_Connecting  dating  discomforts  exits  friendships  ghosting  intimacy  personal_connections  relationships  say_"no"  self-discovery  self-esteem  self-worth 
february 2019 by jerryking
JAB chair Bart Becht quits in split with partners
January 14, 2019 | Financial Times | Leila Abboud in Paris and Arash Massoudi.

Bart Becht's departure is the first outward display of tensions within JAB, created to manage the wealth of Germany’s billionaire Reimann family. The chairman of JAB Holdings, the acquisition-hungry owner of Pret A Manger and Keurig Dr Pepper, has quit after a five-year $50bn takeover spree led to a split with his two partners over the scale of the investment group’s dealmaking.

According to two people with direct knowledge of his decision, Bart Becht, a hard-charging 62-year-old consumer industry executive, stepped down after failing to convince JAB to scale back its takeover ambitions to focus on improving operations at its sprawling portfolio of companies.....The once-obscure investment vehicle has vaulted itself into the top tier of consumer products groups through acquisitions of high-profile US brands like Krispy Kreme, Peet’s Coffee and Covergirl owner Coty, competing directly with industry giants including Nestlé and Coca-Cola in coffee and L’Oreal in make-up......One person who has worked closely with JAB described Mr Becht’s decision as “undoubtedly a surprise”, especially since the trio of executives had only recently been raising money from outside investors and pitching themselves as long-term investors.

JAB operates in a similar way to a private equity investor, but with much longer time horizons. It is often willing to own portfolio companies for decades, often engineering an expansion via acquisitions.....The fundraising also coincided with a strategy shift as JAB exited investments in luxury and fashion to focus on what it calls premium food and beverage, casual dining, and coffee.
CPG  dealmakers  departures  exits  family_office  family-owned_businesses  hard-charging  investors  JAB  Keurig  private_equity  portfolio_management 
january 2019 by jerryking
Muhtar Kent: bottling Coca-Cola’s secrets for success
January 6, 2019 | Financial Times Andrew Edgecliffe-Johnson.
beverages  brands  CEOs  Coca-Cola  exits 
january 2019 by jerryking
Tristan Walker on the Roman Empire and Selling a Start-Up to Procter & Gamble - The New York Times
By David Gelles
Dec. 12, 2018

Tristan Walker founded Walker & Company, a maker of health and beauty products for people of color, in 2013. On Wednesday, the company was acquired by Procter & Gamble for an undisclosed sum. The deal represents a successful exit for Mr. Walker and his investors. It also signals an effort by Procter & Gamble, the maker of Gillette, to reach new markets with its shaving products. But while many start-up founders make a hasty exit after getting acquired, Mr. Walker is planning to stay on and grow Bevel, his men’s shaving brand, and Form, his women’s hair care brand. “We’re a team of 15 with very grandiose ambitions,” he said of Walker & Company, which is based in Palo Alto, Calif., but will move to Atlanta as part of the deal. “We want this company and its purpose to still be around 150 years from now.”

What’s that book you’ve got there?

It’s “Parallel Lives” by Plutarch. I’ve really been getting into Greek and Roman mythology. I’m reading something right now about the history of Rome during the 53 years when they really came into power, and this idea of the Roman state growing, the Greek state growing, and the differences therein fascinate me beyond belief. I’ve just been devouring it for the past few weeks now.

Walker attended the Hotchkiss School in Lakeville, Conn. And from there, he got to see how the other half lived. It completely changed his life. He got to see what success could look like. He got to see what wealth was. And it completely changed his worldview.

How so?

I would walk down the halls and see last names like Ford, go to some classes and realize they’re Rockefellers. These are names that were in my imagination. It taught me the importance of name and what that can mean, not only for you but your progeny. When I started at Hotchkiss, I didn’t know what a verb was. So I spent all of my time in the library studying. I spent all of my time thinking about what I wanted to be when I grew up.

What are your priorities as you keep building the company?

I’m dedicating my life to the demographic shift happening in this country. Not only for Silicon Valley. Not only for business. But for this country’s competitiveness. It’s changing. And folks need to respect that and they need to celebrate it.
African-Americans  Bevel  biographies  books  demographic_changes  entrepreneur  entrepreneurship  exits  Form  insights  long-term  P&G  Romans  Silicon_Valley  start_ups  Tristan_Walker  wealth_creation  black-owned  brands  consumer_goods  personal_care_products  personal_grooming  founders 
december 2018 by jerryking
P&G Buys Walker & Co. to Expand Offerings to African-Americans - WSJ
By Aisha Al-Muslim
Dec. 12, 2018

Procter & Gamble Co. PG +0.19% has acquired Walker & Co. Brands as the consumer-products giant looks to serve more African-Americans with health and beauty products.

Palo Alto, Calif.-based Walker sells grooming products for men under the brand Bevel and hair-care products for women under the Form Beauty brand.

Walker will operate as a separate and wholly owned subsidiary of P&G, continuing to be led by its founder and Chief Executive Tristan Walker, ......Last year, Anglo-Dutch consumer products firm Unilever PLC acquired Sundial Brands, a New York-based hair-care and skin-care products company predominantly targeting African-Americans, for an undisclosed sum. Sundial’s brands include SheaMoisture, Nubian Heritage, Madam C.J. Walker and nyakio.
African-Americans  Bevel  black-owned  brands  exits  hair  P&G  personal_care_products  personal_grooming  Tristan_Walker  Unilever  founders 
december 2018 by jerryking
GE: industrial stalwart contemplates a general overhaul
OCTOBER 5, 2018 | Financial Times | by Ed Crooks in New York.

“GE Power is at death’s door,” says Scott Davis, an analyst at Melius Research. “It’s going to require a massive change in strategy to fix it.”

The Alstom deal is far from being GE’s only strategic mis-step. But it is emblematic of two of the company’s flaws: a weakness for dealmaking, and an inability to respond effectively to a changing market. Together, those failings go a long way to explaining why one of the greatest names in American business, an original member of the Dow Jones Industrial Average at its creation in 1896, has lost more than 80 per cent of its market capitalisation since 2000......while GE’s leaders were focused on a deal that might have been perfect 10 or 20 years ago, they were underestimating the scale of the changes hitting the electricity industry. As the costs of wind and solar power have plunged, they have become competitive against the gas-fired and coal-fired power plants that are GE and Alstom’s forte. It is a mistake that companies often make at times of structural change, says Kingsmill Bond of the Carbon Tracker Initiative: “They confused the current size of the market with the future growth of the market.”.....As the scale of the problem emerged, Mr Flannery moved to cut costs. Last December he announced 12,000 jobs would go from the power division. But reducing headcount is slow work in Europe, especially in France, where Mr Immelt had pledged to create a net 1,000 additional jobs by the end of 2018......The urgency of the crisis creates opportunities to make radical changes. A group of investors including hedge fund manager Sir Christopher Hohn of the Children’s Investment Fund on Friday published a letter to Mr Culp, urging him to scale back investment in gas and coal power and embrace clean energy.....Giving up on selling new turbines to concentrate on the more lucrative services business would be a momentous step, but Mr Davis says that like General Motors during the 2008 financial crisis, the business is in urgent need of a radical rethink.
Alstom  CEOs  change  cost-cutting  deal-making  DJIA  energy  GE  Jack_Welch  Jeffrey_Immelt  shifting_tastes  Siemens  structural_change  John_Flannery  exits 
october 2018 by jerryking
The GE-free Dow is the index our age deserves | Financial Times
Andrew Edgecliffe-Johnson 8 HOURS AGO

The avatar of American agglomeration is now slimming down to its aviation, healthcare and power businesses. Yet if you ask anyone who grew up around American kitchens or hardware stores what GE makes, they will probably mention fridges and lightbulbs. As its new chief, John Flannery, struggles to reverse the third steep slide in GE’s shares since the start of the century, one challenge he faces is that its brand is freighted with misconceptions. 
...The Dow tracks a mere 30 stocks, compared to the S&P’s 500; the points moves get increasingly meaningless as markets rise, and with no Facebook, Amazon, Netflix or Google it is missing most of the market-moving Faangs.
.......What earned GE its special place in the American imagination is that, in its conglomerate prime, it provided a similar guide to the US’s industrial evolution as it diversified from jet engines to television shows to finance. Even now, the company is as much a bet on healthcare.... as Walgreens,
........the Dow is as much a branding triumph as a GE fridge, and the story it tells best about the US economy is how it has come to be driven by brands........The market-movers of 1896 had solid, descriptive and quietly flag-waving names like Standard Rope & Twine, Pacific Mail Steamship and the North American Company. Today’s biggest businesses, like Apple, Alphabet and Amazon, are not defined by history, geography or even what they do. Instead, they stand as testaments to the rise of intangible assets at the expense of tangible goods — as does the survival of a well-marketed industrial average in a country where services are 80 per cent of GDP. 

The Dow no longer tells us much about American industry. But it still tells us plenty about America.
benchmarks  brands  conglomerates  DJIA  exits  FAANG  GE  indignities  intangibles  misconceptions  symbolism  indices  healthcare 
june 2018 by jerryking
The Not-So-Glossy Future of Magazines -
SEPT. 23, 2017 | The New York Times | By SYDNEY EMBER and MICHAEL M. GRYNBAUM.

Suddenly, it seemed, longstanding predictions about the collapse of magazines had come to pass.

Magazines have sputtered for years, their monopoly on readers and advertising erased by Facebook, Google and more nimble online competitors. But editors and executives said the abrupt churn in the senior leadership ranks signaled that the romance of the business was now yielding to financial realities.

As publishers grasp for new revenue streams, a ‘‘try-anything’’ approach has taken hold. Time Inc. has a new streaming TV show, “Paws & Claws,” that features viral videos of animals. Hearst started a magazine with the online rental service Airbnb. Increasingly, the longtime core of the business — the print product — is an afterthought, overshadowed by investments in live events, podcasts, video, and partnerships with outside brands.

The changes represent one of the most fundamental shifts in decades for a business that long relied on a simple formula: glossy volumes thick with high-priced ads.

“Sentimentality is probably the biggest enemy for the magazine business,” David Carey, the president of Hearst Magazines, said in an interview. “You have to embrace the future.”.......experiments are part of an industrywide race to find some way — any way — to make up for the hemorrhaging of revenue.

Hearst recently introduced The Pioneer Woman Magazine, a partnership with the Food Network host Ree Drummond that was initially sold only at Walmart. Its new travel publication, Airbnbmag, is geared toward customers of the do-it-yourself online rental site, with distribution at newsstands, airports and supermarkets. Meredith has started a magazine called The Magnolia Journal with the HGTV stars Chip and Joanna Gaines.

Even Condé Nast, the glitzy purveyor of luxury titles, has recognized the advantages of outside partnerships....debuting a quarterly print title for Goop, Gwyneth Paltrow’s lifestyle brand, with a cover featuring a topless Ms. Paltrow submerged in mud from France.
magazines  generational_change  brands  Vanity_Fair  print_journalism  churn  events  partnerships  sentimentality  digital_media  journalism  Hearst  Meredith  publishing  advertising  decline  experimentation  trends  Condé_Nast  resignations  exits  popular_culture 
september 2017 by jerryking
Canada should prepare for life without NAFTA - The Globe and Mail
LAWRENCE HERMAN
Special to The Globe and Mail
Published Tuesday, Aug. 22, 2017

Canada should be considering a world without the NAFTA or, possibly, without even the Canada-U.S. free-trade agreement. Contingency planning is what trade-policy formulation is all about. Here are some factors to consider.

First, the NAFTA (like the FTA before it) is about preferential treatment. Ending those preferences doesn’t mean Canadian companies would be excluded from the U.S. market. Not in the least. Vast trade relations exist between the United States, China, Japan, Russia and the entire European Union, none of which have a free-trade agreement with the United States.

Second, even without preferential tariff rates for Canada, most have been reduced to zero anyway as a result of the World Trade Organization Agreement, so their NAFTA value is worth much less today than in 1994. On the non-goods side, the WTO Agreement ensures Canadian services and intellectual property rights of non-discriminatory treatment in the U.S. market.

Third, while the binational panel system for reviewing trade cases would disappear, agreement on that system predated the advent of the WTO and its own effective multilateral dispute resolution system, Canada has used the WTO system effectively over the years in dealing with the U.S., including in the ongoing softwood lumber dispute.

None of this diminishes the benefits of a successful outcome in the NAFTA 2.0 exercise for all three countries. But given where we are today, judging from Mr. Trump’s repeated public pronouncements, the vision of North America setting an example to the world has turned into a one-sided Trumpian quest for advantage.

Without the essential ingredient of common purpose, Canadian trade policy has to look beyond the precipice. No deal, as has been oft said, is better than a bad one.
contingency_planning  NAFTA  Donald_Trump  exits  crossborder  renegotiations  say_"no"  national_interests  free-trade  protectionism  beyondtheU.S. 
august 2017 by jerryking
Retail Instincts Propel Investor to Venture Capitalism’s Top Tier - The New York Times
By KATIE BENNER and MICHAEL J. de la MERCEDMARCH 26, 2017

Ms. Green is an unorthodox venture capitalist for several reasons. Apart from having never worked at a venture capital firm before starting her own in 2012, she is also a woman in a male-dominated field. (Of the top 20 venture investors this year, only two were women.) And unlike many generalist venture investors, who work in a range of areas, Ms. Green focuses specifically on commerce and other retail-related start-ups.....Ms. Green’s roots in retail run deep. She began her career as an accountant auditing retailers. In the late 1990s, she covered those companies as a stock analyst for Montgomery Securities, studying wonky measurements like customer traffic in retail locations and a store’s profitability per square foot. She also observed the rise of brands like Abercrombie & Fitch, Coach and Ugg.

She soon concluded that online commerce would underpin the next generation of important retail brands, but that consumers would not rely on just one way to shop. With the rise of Amazon and other online retailers, Ms. Green saw more bankruptcy filings from traditional retailers, as well as news of store closings and reports of market share shifts. But she also saw stores do well when companies could make an emotional connection with shoppers and better analyze their behavior.

“Retail is now totally propelled by consumers and their needs,” she said. “People can buy what they want in any way that they want it. That trend started a long time ago, and it has really changed everything.”.....In 2003, Ms. Green decided to jump from analyzing this shift to investing in it. For a time, she worked as a consultant to a private equity firm before turning to venture capital because of her interest in young companies. In 2010, she raised an angel investment fund to make one-off investments in companies like Birchbox, a cosmetics subscription service, and Warby Parker, an eyeglasses retailer, while she studied how to raise a venture fund. In 2012, Ms. Green raised a $40 million venture fund. The investment firm Cendana Capital contributed $10 million, despite the fact that she had never worked as a traditional investor or tech entrepreneur.
venture_capital  vc  women  retailers  angels  exits  e-commerce  emotional_commitment  brands  emotional_connections  Kirsten_Green  Birchbox  Warby_Parker  top-tier  investors 
march 2017 by jerryking
Dumping a Bad App? Tips for a Painless Breakup - The New York Times
By BRIAN X. CHEN JAN. 25, 2017.

When to Call It Quits

No app is perfect, but you have to draw the line somewhere. The problem is, you may be in such a rut that you can’t recognize the warning signs.

(1) An obvious one is when an app stops working reliably in a way that affects your life.
(2) dump an app when it has stopped improving.
(3) when you have nobody to talk to... . If an app’s audience is a ghost town — like Yahoo’s photo-sharing app, Flickr, which sank in popularity after mobile photo-sharing services like Instagram emerged — then it’s probably time to leave.

Getting Out

The hardest part of breaking up with an app is moving your data. So as a rule of thumb, save a backup copy of your data so that you can export it into a new app. Then carefully search for a better app to suit your needs.

As a safety measure before changing apps, you should always keep extra copies of your data somewhere, whether it be in the cloud with a service like Dropbox or on a physical hard drive. When companies don’t provide convenient tools to export your data, look elsewhere by doing a quick web search for solutions. There are plenty of people in the same boat as you, and chances are they have written scripts, or lightweight programs, to automatically pull out your data for you.

If there is no convenient way to export your data, sometimes it doesn’t hurt to just take out what is most important to you. Perhaps you don’t need five-year-old notes from Evernote anymore, so you could just manually paste your latest memos and get a fresh start with a different app.

Finding a New App

On the bright side, you can learn a lot from a tough breakup with an app — which can be especially useful when looking for a replacement.

The biggest lessons: Pick a tool that supports a wide array of formats instead of proprietary ones. And before you commit to a new app, make sure it is as easy to get out as it is to get in.

Fantastical 2 for iPhone

The fast and friendly calendar and reminders app, packed full of features to make you even more productive.
mobile_applications  exits  howto  productivity  warning_signs  breakups 
february 2017 by jerryking
Tony Fadell Steps Down Amid Tumult at Nest, a Google Acquisition - The New York Times
By STEVE LOHRJUNE 3, 2016
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Steve_Lohr  NEST  exits  CEOs  Google 
june 2016 by jerryking
Stephen Harper: After so many words, he exits in silence - The Globe and Mail
May 25, 2016

Mr. Harper’s solitary political goal was to make unalloyed conservatism a valid ballot option in a country ruled for decades by Liberals and red Tories. He succeeded to a degree, but then let an authoritarian nature overwhelm his own principles. He constantly redefined conservatism as whatever he thought it should be in the moment, no questions asked. It was never a conversation among Canadians, or even his own party.

He ended up burdening the Conservative Party with the perception that it contains an ugly strain of political partisanship that seeks to win at all costs, brooks no dissent, and feel no obligation to explain itself to the outside world. Undoing that legacy will be the biggest challenge faced by his successor.
editorials  Stephen_Harper  exits  silence  tough-mindedness  red_Tories  Conservative_Party  House_of_Commons  authoritarianism  political_partisanship 
may 2016 by jerryking
Nine retailers closing the most stores
Mar 13, 2014 | The Courier | McIntyre, Douglas A; Hess, Alexander EM

Brick-and-mortar retailers have been suffering from slow economic activity for years, as well as from increased competition fr...
retailers  exits  bricks-and-mortar  e-commerce 
april 2015 by jerryking
Cirque du Soleil nears deal with U.S. private equity giant TPG, Caisse - The Globe and Mail
JACQUIE McNISH AND NICOLAS VAN PRAET
Cirque du Soleil nears deal with U.S. private equity giant TPG, Caisse
SUBSCRIBERS ONLY
TORONTO AND MONTREAL — The Globe and Mail
Published Wednesday, Apr. 15 2015
Cirque_du_Soleil  private_equity  TPG  exits  Fosun 
april 2015 by jerryking
The Lessons for Finance in the GE Capital Retreat - NYTimes.com
APRIL 10, 2015 | NYT |By PETER EAVIS.

More than 10 years ago, the kinds of investors who seek out weak companies were circulating presentations on Wall Street that argued that General Electric’s enormous lending business was a ticking time bomb.

The financial crisis of 2008 proved those skeptics right, and on Friday, they appeared to have the final laugh. General Electric announced that it was selling most of the loans inside its financial division, GE Capital, leaving a G.E. that will be dominated by industrial businesses.
GE_Capital  GE  exits  financial_services  short_selling  weaknesses 
april 2015 by jerryking
Obama Gives Emotional Farewell Speech at Holder Event
Feb 27, 2015 | WSJ | By BYRON TAUand ANDREW GROSSMAN.

Mr. Obama pointed to “hundreds of terrorism convictions, the largest mafia take down in history, billion dollar financial fraud cases, long overdue reforms to our criminal justice system” as just some of Mr. Holder’s accomplishments in office.

“Thanks in part to Eric’s leadership, the overall crime rate and overall incarceration rate declined together for the first time in 40 years,” the president said. He also identified the Justice Department’s focus on civil rights, voting rights, hate crimes and human trafficking as notable areas of accomplishment.
Obama  Eric_Holder  Aretha_Franklin  Department_of_Justice  exits  incarceration  decline 
february 2015 by jerryking
Why empty shelves killed the Target brand - The Globe and Mail
SUSAN KRASHINSKY - MARKETING REPORTER
The Globe and Mail
Published Thursday, Jan. 15 2015
retailers  Target  Susan_Krashinsky  crossborder  exits  branding 
january 2015 by jerryking
How Target botched a $7-billion rollout - The Globe and Mail
MARINA STRAUSS - RETAILING REPORTER
The Globe and Mail
Published Thursday, Jan. 15 2015
exits  Target  retailers  crossborder  Marina_Strauss  rollouts 
january 2015 by jerryking
Satire and heavy-handed sermons as The Newsroom ends - The Globe and Mail
ALESSANDRA STANLEY
The New York Times News Service
Published Monday, Dec. 15 2014
HBO  television  sentimentality  journalism  comedy  exits 
december 2014 by jerryking
Exit interview: The ROM’s departing CEO and the museum’s challenges - The Globe and Mail
JAMES ADAMS
The Globe and Mail
Published Friday, Nov. 28 2014

This was the hope: That after the $300-million convulsion known as Renaissance ROM, Janet Carding would, as the Royal Ontario Museum’s director and CEO effective Sept. 13, 2010, begin to re-establish the Toronto museum as a museum. Her predecessor, William Thorsell, had spent most of his 10 years bringing to fruition the bricks-and-mortar overhaul of the Grande Olde Dame on the southwest corner of Queen’s Park and Bloor Street West – an overhaul brazenly exemplified by the jagged thrusts of the Michael Lee-Chin Crystal designed by starchitect Daniel Libeskind.

With the Crystal, Thorsell made the ROM a talking point, a lightning rod for debate, a rude, not-to-be-ignored presence on Toronto’s topography. It would be Carding’s job to take all that attention and, through a judicious mix of programming, exhibitions and education, translate it into visitors, be they visitors physically accessing the museum’s six million artifacts and 40 galleries through the new front door on Bloor, or virtually, through digital media.

This is the reality: Carding, it was announced this week, is to leave the ROM in March, a full five months and a bit before the expiration of the five-year contract she signed with the museum’s board of trustees in 2010
exits  CEOs  ROM  museums  Toronto  leadership  challenges  William_Thorsell  landmarks  iconic  Queen’s_Park 
november 2014 by jerryking
Bill Gross Leaves Pimco for Janus - WSJ
By KIRSTEN GRIND And MICHAEL CALIA CONNECT
Updated Sept. 26, 2014
Bill_Gross  PIMCO  exits  Janus  bonds  asset_management 
september 2014 by jerryking
If I was...setting out to be an entrepreneur - FT.com
January 15, 2014 | FT | By Daniel Isenberg.

“Worthless Impossible and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value”.

...If I were setting out as an entrepreneur today, I would buy an existing company to scale up rather than build a start-up from scratch. I would make incremental tweaks of improvement rather than innovate, exercise cool judgment rather than hot passion and build my departure plan from day one...a lot of great businesses, such as PayPal [the online payments system] and Kaspersky [the internet security company] are carved out of, or combined from, existing assets, or are family businesses taken sky-high by the second or third generation...Rather than start a new company, I would buy a rusty old business to fix up and grow as fast as I could. I want a discarded company that is undervalued but can be dusted off, refurbished with vision and talent, and scaled up. I would be talking to venture capitalists....I know that proprietary technology is not a market maker by itself. Great marketing and management almost always trump big innovation.

Minnovation – small tweaks on existing products – is what moves the ball of economic growth forward. Neither Facebook nor Google, for example, were technology pioneers.

Big innovations are few and far between and are often the stuff of large companies with long patience and deep pockets....Next, I would drain my venture of passion and replace it with commitment, hard work and realistic and relentless self-assessment....start with a stark test of harsh neon lights, exposing every flaw and crack long before the market does so that I can fix them before the customers vote with their feet....plan one's passionless departure from the start, creating a platform to allow the talented people and partners I hire to outperform me very soon.
entrepreneur  entrepreneurship  rules_of_the_game  unglamorous  books  Daniel_Isenberg  advice  howto  passions  exits  lessons_learned  turnarounds  contrarians  scaling  minnovation  undervalued  under-performing  carveouts  family_business  proprietary  incrementalism  self-assessment  customer_risk  breakthroughs  large_companies  vision  refurbished  spin-offs  hard_work  dispassion  marketing  management  commitments  marginal_improvements  unsentimental  outperformance 
january 2014 by jerryking
Ryerson president Sheldon Levy prepares to say farewell - The Globe and Mail
TARA DESCHAMPS

The Globe and Mail

Published Friday, Dec. 06 2013,

You’ve worked at many universities, including the University of Toronto, York University and the University of Ontario Institute of Technology. What sets Ryerson apart from the others?

With Ryerson, what stands out for me all the time is the students. They’re such a creative, innovative, entrepreneurial group of students that [are] very supportive, and it’s been really a delight to work at Ryerson … It’s a [very] kind community.

What do you think your role has been in changing Ryerson’s image?

The role of a president is a lot of sales and marketing. I think that I have always paid attention to building the reputation of the university, and put that as a primary objective, whether that was the members of the royal society or attracting the best faculty and students. The reputation is not a function of the president, but is a function of everyone at the university, so in some sense you are the chief cheerleader.
Ryerson  retirement  CEOs  Colleges_&_Universities  deanships  exits 
december 2013 by jerryking
Pixar closes its Vancouver studio after 3 years
Oct. 09 2013 | The Globe and Mail | by STEVE LADURANTAYE and IAN BAILEY.

Walt Disney Co. abruptly closed its Vancouver-based Pixar Canada studio, leaving 100 employees out of work just three years after opening with a promise to make the city a “beacon” for artists across the country...."As the dynamics of the animation industry continues to change rapidly, we continue to fine-tune our studio and its production processes. We have made the determination to refocus our creative and business efforts and resources under one roof. Pixar Canada will cease operations immediately"
layoffs  exits  Pixar  Walt_Disney  animation  Vancouver  digital_media  entertainment 
november 2013 by jerryking
For Twitter, Success Came After Founders' Exit - WSJ.com
October 3, 2013 | WSJ | By SHIRA OVIDE and YOREE KOH.

For Twitter, Success Came After Founders' Exit
Ailing Startup Finds Its Legs After Pushing Aside Those That Brought It to Life
Twitter  start_ups  CEOs  executive_management  exits 
october 2013 by jerryking
When to Sell Your Company — on startups — Medium
February 20, 2013| Ev Williams

I make systems that encourage typing and thinking (Blogger, Twitter, Medium).

Published
exits  selling_a_business  entrepreneurship 
february 2013 by jerryking
The Smart Way to Change Jobs
September 4, 1995 | Fortune | Marshall Loeb.

After worked out all thc details, you should seek a general letter of agreement outlining your pay, benefits, job title, and responsibilities. lt should includc a short-term fail­-safe clause to cover you if the mating doesn’t work out. Companies will often agree to give you six months’ pay in the event that you or your new boss decides that your move was a mistake. Finally leave your old employer on good terms. just possible that thc two of you will be back in bed somewhere dotlrn the line-just like in those French farces.
Managing_Your_Career  career_paths  career  reinvention  salaries  compensation  negotiations  exits  job_change  first90days 
february 2013 by jerryking
How to Loosen Grip Of a Noncompete Pact After Your Breakup - WSJ.com
February 17, 1998 | WSJ | By HAL LANCASTER.

The best time to negotiate is during the courtship, "when everyone's happy and begging you to come over," Mr. Sklover says.

You might be able to shorten the duration of the agreement or the territory covered. Mr. Lasky says you can often negotiate "carve outs," or specific jobs and places for which the clause doesn't apply, should you leave the company. If you're in public relations, for example, maybe they'll allow you to do marketing communications, he says....IF YOUR noncompete is airtight, concentrate on spending your time after the breakup wisely. One possibility: interim employment in a related field.

That's what Mr. Nesh did after leaving the utility last October. He wouldn't disclose terms of his covenant, but said it contained time and geographical restrictions. While he waits for it to expire, he has registered with Imcor, which provides companies with temporary executives. He still must avoid direct competition, but if he can get an assignment or two, it will keep him close to the industry, he says.

If you've decided to quit, the focus shifts to managing your departure so that your former employers are less likely to call out the attack dogs.

"Take nothing with you other than the picture of the wife, kids and dog," Mr. Lasky advises. "Don't take the Rolodex or files. Don't come into the office at hours when no one else is there. Even if it's innocent, it will be seen as an attempt to steal business."

Also, transfer your responsibilities to others. "Don't leave things in the lurch," he says.
Hal_Lancaster  noncompete_agreements  exits  negotiations  interim  Second_Acts 
december 2012 by jerryking
I want out of the public sector, how do I sell my skills? - The Globe and Mail
Eileen Chadnick

Special to The Globe and Mail

Published Thursday, Sep. 27 2012
public_sector  exits  career_paths 
september 2012 by jerryking
Time bomb lurks in VC term sheets
May 10, 2004 | The Investment Dealers' Digest | Britt Erica Tunick

Venture capital proved the saving grace for many a struggling start-up in the last few years, but as exit opportunities improve in both initial public offerings and mergers and acquisitions, many a start-up is about to come face to face with an unpleasant discovery: Their payouts may well be significantly smaller than they'd expected. instead of sitting down with an investment banker and doing the math to figure out exactly how investment terms will affect them at the time of a liquidity event, the majority of entrepreneurs merely look to their attorneys for assurance that investment terms generally look correct.
start_ups  surprises  vc  venture_capital  exits  ROI  term_sheets  liquidity_events 
august 2012 by jerryking
So you want to sell your business?
Sep 2004 | NZ Business | Richard O'Brien.

I include sections that outline the facts about your company's history, structure and operations, market, products, historical and projected financial statements, the asking price and basic terms you are looking for. List your employees and any physical assets, together with any other information that explains who you are and why your business is such a strong opportunity. Keep in mind who your audience is and don't divulge any information that you wouldn't want your competitors to see.
selling_a_business  privately_held_companies  exits 
august 2012 by jerryking
Getting a Better Severance Deal
November 1994 | Working Woman | BY STEPHEN M. POLLAN AND MARK LEVINE.

Severance packages are more negotiable than you may think. Treat them as preliminary offers, not done deals, and use whatever leverage you have. Do not sign a release—or even a statement that you've been terminated—at the initial meeting, when you receive the news. Insist on postponing all decisions to a subsequent meeting with both your direct supervisor and someone from personnel. Say you need the time to digest the news or even that you feel too emotional to continue. Then use this grace period to de1ermine what you really need in tenns of money and other benefits. Draft a memo outlining your dream severance package, listing a reason for each request. And if you suspect that you're being discriminated against—maybe everyone being dismissed is over 40 or female--contact the Equal Employment Opportunity Commission (800-669-4000) or a labor lawyer. When you finally go into your second meeting, try to set aside your hurt and anger. Treat this like any other business negotiation. Be firm but flexible in your requests. and know where to draw your bottom line. Keep in mind that both you and your supervisor want to wrap the matter up as quickly as possible.
litigation  negotiations  decision_making  decision_trees  exits  managing_up  severance 
august 2012 by jerryking
Exits and Family Offices
2006 | Tax Management Inc. a subsidiary of the Bureau of National Affairs |
family_office  exits  succession  tools  privately_held_companies 
august 2012 by jerryking
Peter C. B Bynoe Addresses Conference
April 1992 | HBS Bulletin | by Jeffrey Lazar.

* The concept of independence and self-determination is basically a myth for entrepreneurs. We all work for somebody--shareholders, customers, advertisers. Although we try to maximize out destiny , int eh final analysis, the marketplace dictates whether we succeed or fail
* Commit yourself to excellence and not to money.
* Be innovative, take chances and stay honest to oneself and others.
* Know when you need help and whom to ask for it, and get out when you realize that the market is turning against you. Never be too proud to fold your cards.
* Take responsibility for one's actions. Your bank account at the end of the year is the determining factor. No finger-pointing!
* Don't take "no" for an answer!
* Judge people by the content of their character not skin colour.
* Have fun. Enjoy the work that you do.
African-Americans  entrepreneur  HBS  alumni  exits  false_pride  blaming_fingerpointing  entrepreneurship  NBA  basketball  J.D.-M.B.A.  rules_of_the_game 
august 2012 by jerryking
Cashing In, Business Valuation Article - Inc. Article
Aug 1, 2004 | Inc.com | by Ian Mount. Profiles of four entrepreneurs who cashed in -- and what they bought afterwards.
entrepreneur  exits  Second_Acts  passions  passion_investing 
july 2012 by jerryking
After Extensive Beef Recall, Topps Goes Out of Business - NYTimes.com
By KEN BELSON and KAREEM FAHIM; Anthony DePalma contributed reporting from New York, and Nate Schweber from Elizabeth, N.J.
Published: October 6, 2007

Even without the legal challenges, Topps would have faced a tough road back. Many of its customers are likely to seek other sources of beef. Unlike at more diversified food companies, meat processing was Topps's main business, which means it had little revenue from other sources.

''It's one of the problems for a single plant, small or large,'' said John Nalivka, the president of Sterling Marketing, a consultant to the meat and livestock industry. ''If you have a recall and that plant is down, your whole financial well-being suffers.''

The speed of the events also gave Topps little room to maneuver, particularly if it had to pay to recover its tainted beef from its customers, an expense that could take years to recoup from an insurance company.

''Recalls used to be rolling waves hitting the beach, and now they are tsunamis that choke off the oxygen,'' said Gene Grabowski, who runs the crisis and litigation practice at Levick Strategic Communications and has handled more than 120 recalls. ''This is not a giant and not diversified, so when a tsunami hits, it doesn't have much of a chance.''
product_recalls  Topps  beef  E._Coli  exits 
june 2012 by jerryking
Andy Samberg Confirms He's Leaving 'Saturday Night Live' - NYTimes.com
June 1, 2012, 6:51 pm
Andy Samberg Confirms He’s Leaving ‘Saturday Night Live’
By DAVE ITZKOFF
SNL  actors  exits 
june 2012 by jerryking
Why the Soy Milk King Still Reigns By selling out to the nation's largest dairy distributor, White Wave president Steve Demos turned Silk into a beverage for the masses. - April 1, 2004
April 1, 2004 | Business 2.0 | By G. Pascal Zachary.
(1) Mainstream packaging - 1st soy milk packaged in conventional cartons and sold in dairy sections.
(2) Traditional taste - specially formulated for better flavour and mouth-feel.
(3) National distribution- an alliance with Dean Foods scored valuable shelf space.
(4) Devoted Management- Dean left the hippies in charge because they know soy best.
G._Pascal_Zachary  dairy  entrepreneur  soybeans  Steve_Demos  exits  organic  marketing 
may 2012 by jerryking
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