1. Articles from alexmorrell

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    1. The CEO of a $600 Million Startup Blasted Silicon Valley's Culture of Delaying IPOs, likening it to a College Victory Lap Paid for by VCs

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      The CEO of a $600 Million Startup Blasted Silicon Valley's Culture of Delaying IPOs, likening it to a College Victory Lap Paid for by VCs
      • Better.com CEO Vishal Garg told Business Insider he'd like his rapidly growing mortgage-tech company, which just closed its Series C, to tap the public markets in two to three years.
      • He criticized the trend among startups of delaying an IPO in favor of basking in the private markets, likening it to a college victory lap that stunts maturation.
      • "It'd be kind of like staying in college six years rather than four years. It's a lot more fun. Nobody's watching...
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      Mentions: IPO culture venture capital

    2. Tensions are Flaring Between Barclays and a Corporate Raider, Who's Agitating to Grab More Control of the British Bank

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      Tensions are Flaring Between Barclays and a Corporate Raider, Who's Agitating to Grab More Control of the British Bank
      • Corporate raider Edward Bramson is agitating for more control of Barclays and is maneuvering to change the composition of the company's board of directors.
      • The latest gambit by Bramson comes after Barclays rebuffed his effort to become a non-executive director.
      • Bramson's hedge fund Sherborne Investors holds a more than 5% in Barclays and has been lobbying for cuts to its investment bank...
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      Mentions: Investment Hedge Fund Barclays

    3. Blackstone Boss Steve Schwarzman Earned a Mammoth $785 Million in 2017

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      Blackstone Boss Steve Schwarzman Earned a Mammoth $785 Million in 2017
      • Blackstone founder and CEO Steve Schwarzman earned $787 million in 2017.
      • Most of that is dividends from the shares he owns in the firm.

      Blackstone founder and CEO Steve Schwarzman had a monster year in 2017.

      Schwarzman drew a salary of $350,000 in 2017, which is a healthy chunk of change to most people (the median household income is about $60,000)...

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      Mentions: stock options Steve Schwarzman Blackstone

    4. 48-year-old Billionaire Jonathan Gray is Replacing Tony James as Blackstone’s COO

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      48-year-old Billionaire Jonathan Gray is Replacing Tony James as Blackstone’s COO
      • Private-equity giant Blackstone Group has promoted Jonathan Gray to replace Tony James as COO.
      • Gray, 48, has run the firm's global real estate group since 2005.
      • Gray joined the firm out of college in 1992 and has built a billion-dollar fortune in his time there.

      Alternative-asset management giant Blackstone Group has tapped 48-year-old billionaire Jonathan Gray as its next chief operating officer, the company announced Tuesday...

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      Mentions: Blackstone

    5. Larry Fink, CEO of $6.3 Trillion Manager BlackRock, Just Sent a Warning Letter to CEOs Everywhere

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      Larry Fink, CEO of $6.3 Trillion Manager BlackRock, Just Sent a Warning Letter to CEOs Everywhere
      • BlackRock CEO Larry Fink on Tuesday sent a letter to CEOs of public companies outlining his expectation that they start accounting for their effect on society.
      • BlackRock, a $6.3 trillion asset manager, is doubling the size of its investor-stewardship program, which aims to engage with companies rather than rely on proxy voting.
      • "Society is demanding that companies, both public and private, serve a social purpose," Fink wrote...
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      Mentions: Public Companies Risk BlackRock

    6. Breaking News: It Looks like Nelson Peltz Might Have Won the Biggest Proxy Battle in History After a Recount

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      Breaking News: It Looks like Nelson Peltz Might Have Won the Biggest Proxy Battle in History After a Recount
      • Nelson Peltz appears to have won his proxy battle for a seat on Procter & Gamble's board.
      • In October, Peltz was initially reported to have lost the proxy vote by a slim margin.
      • Now, a recount shows Peltz actually won by 43,000 votes — a 0.002% margin.

      A little over a month ago, it looked like Nelson Peltz had been foiled in the biggest proxy battle in history...

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      Mentions: Procter & Gamble David Taylor stake

    7. Hedge Fund Titan Viking Global Made a $680 Million bet on Scandal-Plagued Wells Fargo (WFC)

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      Hedge Fund Titan Viking Global Made a $680 Million bet on Scandal-Plagued Wells Fargo (WFC)

      One of the world's largest hedge funds made a huge bet that scandal-plagued Wells Fargo's worst days are behind it.

      Viking Global, a $30 billion asset manager founded by Swedish billionaire Andreas Halvorsen, disclosed Monday it had bought 12.3 million shares in the troubled bank, worth around $681 million, in the second quarter.

      The fund also cashed out its stake in JPMorgan Chase, selling 3.7 million shares worth $325 million, according to Bloomberg...

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      Mentions: Hedge Fund Wells Fargo JPMorgan

    8. 7 Potential Bidders, A Call to Amazon, and an Ultimatum: Behind the Whole Foods Deal

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      7 Potential Bidders, A Call to Amazon, and an Ultimatum: Behind the Whole Foods Deal

      The day that Amazon and Whole Foods announced their $13.7 billion merger that shook the grocery industry, a giddy John Mackey, the grocer's CEO, couldn't hide his enthusiasm.

      He regaled a crowd of his employees with a tale of "love at first sight," describing the moment the two companies first met on a "blind date" six weeks earlier...

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      Mentions: Management Whole Foods Goldman Sachs

    9. Whole Foods' CEO Described his Deal with Amazon as a 'Dream Come True' but Investors Want More

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      Whole Foods' CEO Described his Deal with Amazon as a 'Dream Come True' but Investors Want More

      When Whole Foods and Amazon announced their $13.7 billion merger Friday, John Mackey, CEO of Whole Foods, could barely contain his enthusiasm.

      In a town hall with employees, he gushed about about the impending "marriage"— a metaphor he revisited repeatedly — which was announced just six weeks after a "blind date" with Amazon that he characterized as "love at first sight...

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      Mentions: Mergers and Acquisitions Whole Foods Amazon

    10. 'The Federal Reserve has Done Nothing': Elizabeth Warren Urges the Fed to Clean House at Wells Fargo

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      'The Federal Reserve has Done Nothing': Elizabeth Warren Urges the Fed to Clean House at Wells Fargo

      Sen. Elizabeth Warren wants the Federal Reserve to clean house at Wells Fargo, asking for the removal of the 12 members of the board of directors who served while the fake accounts scandal was ongoing.

      In a letter sent to Fed Chair Janet Yellen Monday, Warren argued that the directors present from 2011 to 2015, when Wells Fargo employees opened as many as 2.1 million accounts for customers without their knowledge, need to go — and that the Fed has the authority to remove them under a Congressional statute regarding the governance of insured depository institutions like Wells Fargo.

      "I ...

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      Mentions: Janet Yellen Federal Reserve John Stumpf
    1-10 of 10
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    'The Federal Reserve has Done Nothing': Elizabeth Warren Urges the Fed to Clean House at Wells Fargo Whole Foods' CEO Described his Deal with Amazon as a 'Dream Come True' but Investors Want More 7 Potential Bidders, A Call to Amazon, and an Ultimatum: Behind the Whole Foods Deal Hedge Fund Titan Viking Global Made a $680 Million bet on Scandal-Plagued Wells Fargo (WFC) Breaking News: It Looks like Nelson Peltz Might Have Won the Biggest Proxy Battle in History After a Recount Larry Fink, CEO of $6.3 Trillion Manager BlackRock, Just Sent a Warning Letter to CEOs Everywhere 48-year-old Billionaire Jonathan Gray is Replacing Tony James as Blackstone’s COO Blackstone Boss Steve Schwarzman Earned a Mammoth $785 Million in 2017 Tensions are Flaring Between Barclays and a Corporate Raider, Who's Agitating to Grab More Control of the British Bank The CEO of a $600 Million Startup Blasted Silicon Valley's Culture of Delaying IPOs, likening it to a College Victory Lap Paid for by VCs Flowserve (FLS) Appoints Ken Siegel to Its Board Tevogen Bio Appoints Three Prominent Healthcare Leaders to its Board of Directors