In the New York Times, Susanne Craig writes Fined Billions, Bank Approves Raise for Chief. Go ahead have a quick think about whom that might be referring...you’re right. Keith Wagstaff at NBC News gave it away: “Struggling to pay the bills? Don't worry, JP Morgan gave Jamie Dimon a raise, so everything is going to be OK.” Mark Gongloff at Huffington Post added, “If losing vs Washington = a big raise + the ability to criticize Washington endlessly, I'd take that loss $JP.”
To put it into some perspective, Tom Gara at the Wall Street Journal shared a “magical chart” from The Economist that shows Companies who regularly attend Davos underperform the market.
For more business talk, Financial Times’ Barney Jopson found out Beard mania is trimming P&G razor sales and earnings. David Ricketts there explained, “Movember & disposable razor use hit P&G sales. Unless you want to slash your face, who still uses disposables?” James Titcomb from the Telegraph wrote, “Gillette: Movember hit sales but it's ok because blokes are shaving their bodies.” Josh Sternberg with Digiday declared, “Beardmania the new Beatlemania.” Katie Martin at the Wall Street Journal summed it up, “Everyone hates hipsters. Now P&G can hate them too.”
Back to the New York Times, where you can read Coral Davenport’s piece that a Threat to Bottom Line Spurs Action on Climate. Walt Frick at Harvard Business Review wrote, “The business world gets that climate change is a thing.” Melissa Cronin from The Dodo elaborated, “At long last, big industry (Coke, Nike, etc) using climate change to inform business decisions -- forced by droughts.” Terry Moran with ABC News explained, “Coca Cola thinks global climate change is already harming its bottom line. Are they on to something?.”
Lest you think we only write about businesses losing money, the New York Times also writes that In Rural Jails, E-Cigarettes Are a Calming Vapor. Paul Werdel there tweeted this quote from the piece: “The inmate market has so much potential that Chinese and American manufacturers now produce ‘jail-safe’ versions.” Arian Campo-Flores at the Wall Street Journal explained, “Cities and schools may be cracking down on e-cigarettes, but some places welcome the devices: jail.” Andrew Cohen at CBS News added, “Prisons making huge profits off addiction.”