Travis Kalanick’s Not-So-Fond Farewell; It’s Bottoms Up for George Clooney; Glassdoor Drops Another List and You Better Hope Your Boss is on it

Goodbye and farewell…

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Looks like Travis Kalanick’s “leave of absence” is now a permanent one as he finally took the hint from investors and officially resigned as Uber’s CEO. But not before the aforementioned investors placed a lot of pressure on the embattled CEO to step down. And who can blame the investors. Scandal after ugly scandal emerged from the $68 billion, privately held company and it seemed as if Kalanick wasn’t up to snuff when it came to dealing with them.  In an email to employees, Kalanick talked about his love for Uber and decided to step down “so that Uber can go back to building rather than be distracted with another fight.” How very gallant of him. While Kalanick still remains on the board of Uber, the business is now being run by fourteen people who once upon a time reported to him. Talk about irony.

Aye tequila!

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Some guys have all the luck and George Clooney is one of them. If you think he’s just an actor with a pretty face then you are so very wrong. Turns out the Hollywood hunk also has his own tequila brand –  along with two other partners – called Casamigos, which was just bought for $1 billion by liquor company giant Diageo. The name Diageo might not ring a bell for you, but the name Smirnoff should, and that is just one of the many notable brands that belongs to the Diageo family. Curious who George’s other partners are? Mr. Cindy Crawford, aka Rande Gerber and Mike Meldman. Annoyingly enough, Clooney and Gerber were just trying to come up with their very own “house” tequila for the properties they own in Cabo San Lucas.  But a very lucrative opportunity knocked that had them expanding the brand beyond Cabo, and just last year 120,000 cases of the stuff was shipped out. This year the company expects that number to climb to 170,000. And with a price tag between $45 to $55 a bottle, Clooney and company get to live large without having to rely on other their other talents, including acting and such. As for Diageo, you can bet that this acquisition had less to do with Clooney’s movie star charm and more to do with the fact that tequila volume in the U.S. more than doubled from 2002 to 2015.

There’s a list for that too…

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Image courtesy of Sira Anamwong/FreeDigitalPhotos.net

Glassdoor has regaled us with yet another list. This time it’s to let us know who the top CEO’s in the world are, according to employees And you can bet Travis Kalanick did not make the cut. The Clorox Company’s Benno Dorer takes the top spot. What? Were you expecting a tech CEO? Well too bad because Dorer earned a 99% approval rating from his employees.  Another name from the list you might recognize is Elon Musk who takes the eighth spot. Interestingly enough, his 98% employee approval rating came not from Tesla, but his other company, SpaceX. Wonder what that’s about. Facebook’s Mark Zuckerberg makes it onto the list at number ten, also with a 98% approval rating. But sadly that’s a sharp drop from his number four spot in 2016. Google’s Sundar Pichai grabs the 17th spot while LinkedIn’s Jeff Weiner comes in at number 35. The biggest bummer on the list just might be Apple’s Tim Cook. Last year he held the number eight spot, but this year he drops to spot number 53. In all fairness, however, he still scored a 93% approval rating.

 

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Jeff Bezos Hearts India; Lululemon’s Zen-tastic Earnings; Is Your CEO Listed? You Better Hope So

Next. Big. Thing…

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India is looking very flush these days as Amazon’s Jeff Bezos decided to throw $3 billion at it. That’s in addition to the $2 billion he gave the southeast Asian country back in 2014. He made this announcement at a meeting of business leaders in Washington DC that included Indian Prime Minister Narendra Modi. The reason why Bezos is showing India a lot of fiscal love is that it is Amazon’s fastest growing region, boasting 21 fulfillment centers and 45,000 employees. In other words, the e-commerce giant is banking on the “huge potential in the Indian economy.” Interestingly enough, Amazon can only sell its wares from its website through a third party, as mandated by Indian law. But that hasn’t been much of a problem for the e-tailer, who ironically, never seemed to adapt as easily to the local Chinese marketplace, and continues to struggle there and against the giant we call Alibaba. It’s worth noting that Amazon is not the only game in town, facing fierce competition from local e-commerce businesses, Flipkart and Snapdeal. But Amazon’s not sweating it since according to Morgan Stanley, it is estimated that consumers in India bought $16 billion worth of goods last year, more than $10.3 billion from the previous year. So clearly, there’s plenty of room on the Indian e-commerce playing field.

Lemonade mouth…

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Lululemon beat estimates and even raised its 2016 revenue forecast. So why is its founder and largest shareholder, Chip Wilson, in a snit? He’s probably still licking his executive wounds after being booted from his post for making stupid comments, among other short-comings. In a letter to shareholders last week, the 14.2% stakeholder ripped into the current directors because he feels that they can’t keep up the pace against other athletic apparel companies like Nike and Under Armour, to name a few. Wilson would like it very much if there was an annual election that would make the board of directors accountable for earnings results and, presumably, get him reinstated as CEO. As it stands, the current leadership, helmed by Laurent Potdevin, would probably be delighted to be held accountable for Lululemon’s latest earnings considering how well it performed. Sure, the retailer missed profits by just a penny, falling 5% to $45.3 million, yet still earning 30 cents a share. But shares are still up 27% for the year and the company had strong sales this quarter. It also found a way to control its inventory levels and, in the process, saw its revenue rise 17% to $495.5 million when analysts only thought it would pull down $487.7. So perhaps it’s time for Wilson to keep his thoughts to himself and just enjoy his burgeoning majority stake.

In case you were wondering…

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Glassdoor came out with its latest annual list, this time regaling us with the highest rated CEO’s. Bain & Company’s Bob Becheck tops the list with a 99% approval rating. Employees seemed to appreciate the support they receive from their boss, not to mention the company’s focus on professional development. And who doesn’t mind professional encouragement? But while Becheck scored the number one spot, two other CEO’s also received 99% approval ratings. So congrats to Ultimate Software’s Scott Scherr and McKinsey and Company’s Dominic Barton. Facebook’s Mark Zuckerberg kept his number 4 ranking from last year, while LinkedIn’s Jeff Weiner took fifth. Larry Page’s replacement at Google, Sundar Pichai, earned a 96% approval rating and the number seven spot, while Apple’s Tim Cook came in 8th, also with a 96% approval rating. Four women paved the way on this list, including Staffmark’s Lesa J. Francis, who took the 28th spot with a 94% approve rating, and Enterprise Holdings’ Pamela M. Nicholson, who graces the list at the number 31 spot, also with a 94% approval rating.

Awesome Intel; Who is America’s Favorite CEO?; Marriott’s Letting Guests Stream it Up;

Friggin’ awesome…

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Image courtesy of koratmember/FreeDigitalPhotos.net

“There are plenty of women- and minority-led startup companies, and we want to work with them,”  Lisa Lambert, vice president and managing director at Intel Capital. So why did she say that? Because Intel super-graciously – and presciently – announced its Capital Diversity Fund, specifically set up for women and minority-led start-ups in an effort to mix things up in Silicon Valley. It would seem that the locale already has a rather large presence of white, male CEO’s and Intel would like to make it a little bit more…colorful.  Intel CEO Brian Krzanich would even like to have Intel’s work force, which is currently 24% female and 12% black and Hispanic, come to resemble the U.S. workforce, which is 47% women and 26% black and Hispanic, by 2020. To qualify for some of this cash, the founder of the company must be a woman or minority, and the company must have at least three executives who are women and/or minorities.  There are already a few companies who are getting funding including cyber-security firm Venafi, CareCloud and MarkOne – which makes smart cups. If you’re curious about how smart those cup are, you’ll have to find out yourself. As Mr. Krzanich put it, “…as you seek out diverse points of view, you’re going to produce better returns.” And who doesn’t like better returns?

Did your boss make the list?

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Image courtesy of iosphere/FreeDigitalPhotos.net

If your boss didn’t make the list, maybe consider taking your skills and LinkedIn endorsements elsewhere. You might consider finding gainful employment at Google since Larry Page takes the top spot with a 97% approval rating, according to online job and salary review site Glassdoor.com.  Nike’s Mark Parker, took second just barely missing the top spot by a few thousandths percentage points. Charles Butt, owner of the Texas grocery chain HEB  takes third, with help form a company philosophy that values the welfare of its workforce. And because of that awesome culture you are forbidden to make fun of his last name.  Billionaire Mark Zuckerberg came in fourth  while the aforementioned Brian M. Krzanich, who just announced Intel’s incredible new fund for women and minority-run startups, only came in at number 39. But he still had a 90% approval rating. Oddly enough, LinkedIn’s CEO Jeff Weiner rocked first place back in 2014 with an approval rating of 100%, yet this year his ranking plunged to number 12. However, even with that big drop, Weiner still scored a 93% approval rating. The question is: what exactly did Jeff Weiner do to tick off that other 7%? Hmmm. Something to think about.

Everyone’s a winner…

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Image courtesy of Supertrooper/FreeDigitalPhotos.net

Apparently, Marriott discovered that those super awesome televisions daintily mounted on the walls of the guest rooms weren’t getting much use, as more and more guests were using their tablet, laptops and phones (oh my) to access streaming entertainment. And with those handy, entertaining devices, guests found that that they didn’t have to go through the annoying process of acquainting themselves with a new remote and channel guide. Ugh. So what do? You can’t just chuck those state of the art electronics to the curb. Or can you? Well, no you can’t. Instead, Marriott is teaming up with streaming entertainment service Netflix that will allow Marriott guests to access their Netflix accounts or even sign up for new ones. So next time you need to choose between a Marriott Hotel and some other place to rest your head for the night, now you can take into consideration which hotel has the better in-room entertainment – and mini bar.