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    1. LinkedIn Cofounder Reid Hoffman Boils Down His Rule for Hiring a Replacement When a Company Has 'the wrong CEO'

      LinkedIn Cofounder Reid Hoffman Boils Down His Rule for Hiring a Replacement When a Company Has 'the wrong CEO'
      • In his journey to becoming one of Silicon Valley's most influential entrepreneurs and investors, LinkedIn cofounder and Greylock partner Reid Hoffman has seen the full scale of success, failure, and everything in between.
      • Sometimes, a startup outgrows its chief executive. Hoffman stepped down as CEO of LinkedIn, twice, when he realized he wasn't the best fit for the job...
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    2. Former FCA and Ferrari CEO Sergio Marchionne, a Legend of the Modern Auto Industry, Has Died at 66

      Former FCA and Ferrari CEO Sergio Marchionne, a Legend of the Modern Auto Industry, Has Died at 66
      • Former FCA and Ferrari CEO Sergio Marchionne has died at age 66.
      • He had reportedly been in a coma in intensive care at a hospital in Zurich after complications from surgery.
      • The boards of FCA and Ferrari named his replacements following emergency meetings over the weekend.
      • Marchionne was an auto industry legend, leading a turnaround at Fiat and taking Chrysler from bankruptcy to renewed prosperity...
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      Mentions: Management CEO IPO
    3. MoviePass Shareholders Approve 2 Measures to Keep the Company From Being Kicked off its Stock Exchange

      MoviePass Shareholders Approve 2 Measures to Keep the Company From Being Kicked off its Stock Exchange
      • Helios & Matheson investors — which own 92% of MoviePass — approved two measures designed to help the company avoid delisting on Monday.
      • Shareholders approved the possibility of issuing 4.5 billion new shares, as well as a possible reverse stock split.
      • The stock has fallen dramatically in the past year, and now trades 99% off its high record high near $40...
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      Mentions: Investors Nasdaq AMP
    4. 'I always knew this day would come': Read the memo outgoing Goldman Sachs CEO Lloyd Blankfein just sent to staff

      'I always knew this day would come': Read the memo outgoing Goldman Sachs CEO Lloyd Blankfein just sent to staff
      • David Solomon will succeed Lloyd Blankfein as Goldman's new CEO, the firm said Tuesday.
      • Solomon will officially take the reigns from Blankfein, the longest-serving Wall Street CEO alongside JPMorgan's Jamie Dimon, in October. He'll then join the board.
      • Blankfein will serve as chairman through the end of year, and Solomon will add the title in January. Blankfein becomes senior chairman when he retires...
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    5. Some of the Biggest Names in Dealmaking in New York and London are Duking it out as Part of the Comcast-Fox-Sky Bidding War

      Some of the Biggest Names in Dealmaking in New York and London are Duking it out as Part of the Comcast-Fox-Sky Bidding War
      • Comcast has officially made a £26 billion (about $34 billion) bid for the European broadcasting company Sky.
      • 21st Century Fox, which owns 40% of Sky, has been trying to buy the remaining stake since the end of 2016 but faced numerous regulatory hurdles.
      • The deal pits some of the sharpest minds in global mergers and acquisitions against one another, with the three sides represented by some of the biggest names on Wall Street and in London...
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    6. One of Tesla's Largest Shareholders is Urging Elon Musk to Simmer Down and Focus After a Tumultuous Few Weeks

      One of Tesla's Largest Shareholders is Urging Elon Musk to Simmer Down and Focus After a Tumultuous Few Weeks
      • Baillie Gifford, Tesla's fourth-largest shareholder, says it wants Elon Musk to put away the distractions and focus.
      • James Anderson, a partner and portfolio manager at the asset management firm, pointed to the turmoil surrounding the Tesla CEO, including his public rants in recent weeks. Musk has targeted reporters and news outlets over troubling news about Tesla Model 3 production and internal struggles at the company. Those rants have prompted some fallout...
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      Mentions: Management CEO Tesla
    7. Breaking News: Embattled Papa John's Exec John Schnatter Resigns as Chairman of the Board at the Pizza Chain After Admitting to Using Racial Slur on a Conference Call

      Breaking News: Embattled Papa John's Exec John Schnatter Resigns as Chairman of the Board at the Pizza Chain After Admitting to Using Racial Slur on a Conference Call
      • Papa John's founder and former CEO John Schnatter resigned from his position as chairman of the board on Wednesday.
      • Schnatter's resignation comes one day after he admitted to using the N-word during a May conference call with a marketing agency.
      • The company said it would appoint a new chairman in the coming weeks...
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    8. MoviePass' Parent Company Has Flooded its Investors With a 3,000% Increase in New Shares

      MoviePass' Parent Company Has Flooded its Investors With a 3,000% Increase in New Shares
      • The share price of Helios & Matheson, the parent company of MoviePass, has plunged in recent months amid ongoing losses at the subscription movie service.
      • But something else is weighing down the stock price — the more than 3,000% increase just since August in the number of the company's shares.
      • That dilution is set to only get worse, as the company is seeking authorization to issue even more shares...
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      Mentions: Investors stake AMP
    9. Ad Agency IPG Plans to Buy Acxiom's Data-Marketing Division for $2.3 Billion

      Ad Agency IPG Plans to Buy Acxiom's Data-Marketing Division for $2.3 Billion
      • IPG plans to buy Acxiom's Marketing Solutions division for $2.3 billion.
      • The deal should help it create custom audiences for clients and target ads.
      • But the deal represents a risk for IPG, in part because its competitors may no longer want to work with Marketing Solutions after it becomes part of IPG.
      • What's left of Acxiom will rename itself after its LiveRamp division and move its headquarters...
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    10. Michael Dell will be the CEO of a Public Company Once Again, but it Means Giving up his Power to Never be Fired

      Michael Dell will be the CEO of a Public Company Once Again, but it Means Giving up his Power to Never be Fired
      • Michael Dell will once again be running a public company, thanks to a new financing deal with VMware.
      • As part of that deal, the billionaire CEO has given up something interesting: His ability to veto his own removal as CEO.
      • He's still basically impossible to remove as CEO, though, with 66% voting power over Dell...
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      Mentions: CEO IPO voting power
    11. Dell announces it will buy out VMWare Tracking Stock

      Dell announces it will buy out VMWare Tracking Stock

      Dell said on Monday it will buy out the holders of shares that track the performance of VMWare Inc using a mix of cash and equity in Dell.

      The move marks the end of a strategic review that Dell has been conducting for several months as it has sought to consolidate its complicated ownership structure without overburdening its balance sheet, which bears around $50 billion in debt...

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      Mentions: Dell VMware
    12. Conagra is Buying Pinnacle Foods in a $10.9 Billion Deal

      Conagra is Buying Pinnacle Foods in a $10.9 Billion Deal
      • Conagra has agreed to buy Pinnacle Foods in a $10.9 billion deal.
      • The deal will pay Pinnacle shareholders $43.11 per share in cash and 0.6494 shares of Conagra stock for each Pinnacle share.
      • Pinnacle shareholders will own 16% of the combined company.

      (AP) — Conagra is buying Pinnacle Foods Inc. in a cash-and-stock deal valued at about $10.9 billion that will help the food company expand in the frozen food and snacks categories...

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    13. MoviePass Has Deep Ties to an Indian Company that's been Accused of Defrauding Creditors and Got Kicked off 2 Stock Exchanges

      MoviePass Has Deep Ties to an Indian Company that's been Accused of Defrauding Creditors and Got Kicked off 2 Stock Exchanges
      • The long-term viability of MoviePass and its parent company, Helios and Matheson Analytics (HMNY), has been thrown into question as its monthly losses have risen to $45 million. HMNY's leadership has also made "confusing" statements about its financial situation...
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    14. Facebook Investors Boasting $3 Billion in Shares Want to Topple 'Robber Baron' Mark Zuckerberg

      Facebook Investors Boasting $3 Billion in Shares Want to Topple 'Robber Baron' Mark Zuckerberg
      • Facebook shareholders with nearly $3 billion invested in the company are trying to topple Mark Zuckerberg as chairman and tear up the company's governance structure.
      • Business Insider has spoken to six prominent shareholders who said there is an unprecedented level of unrest among Facebook's backers following a series of scandals...
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    15. Elliott Management Has Hired a New Executive From Citi, and it Says a Lot About Where the $35 Billion Hedge Fund is Headed

      Elliott Management Has Hired a New Executive From Citi, and it Says a Lot About Where the $35 Billion Hedge Fund is Headed
      • Paul Singer's Elliott Management has hired Jean-Yves Magnan as deputy chief financial officer, according to people familiar with the matter.
      • Magnan, who was previously chief financial officer of Citi's cards division, started at the $35 billion hedge fund at the end of May.
      • Magnan's hiring shows how Elliott is trying to deepen its bench of C-suite executives as the fund gets larger and more complex...
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    16. The Owner of MoviePass Plunges After Proposing a Reverse-Stock Split to Avoid Being Kicked Out Of The Nasdaq

      The Owner of MoviePass Plunges After Proposing a Reverse-Stock Split to Avoid Being Kicked Out Of The Nasdaq
      • MoviePass owner Helios & Matheson plunged to a new low after proposing a reverse-stock split.
      • The move could help the company maintain Nasdaq's minimum $1 share price and avoid delisting.
      • "The failure of stockholders to approve this Proposal 3 could have serious adverse effects on the Company and its stockholders," the company said in a regulatory filing...
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    17. Disney Boosts its Offer for 21st Century Fox Assets to $71. 3 Billion

      Disney Boosts its Offer for 21st Century Fox Assets to $71. 3 Billion

      Disney has raised its offer for 21st Century Fox assets to $38 a share, or a total of $71.3 billion in cash and stock.

      The increased offer comes after Comcast crashed Disney's attempt to buy the assets with a $65 billion bid of its own just one week ago, after the US Justice Department approved the AT&T-Time Warner merger...

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      Mentions: Disney Merger AT&T
    18. Shareholders Are Trying to Pressure Jeff Bezos into Cutting Off Amazon's Deals to Sell Facial Recognition to Police Departments

      Shareholders Are Trying to Pressure Jeff Bezos into Cutting Off Amazon's Deals to Sell Facial Recognition to Police Departments
      • Civil rights groups and a shareholders are putting pressure on Amazon CEO Jeff Bezos to stop selling the Amazon Rekognition facial recognition software to law enforcement agencies.
      • The groups raise privacy concerns, along with worries about how the software can be used to unfairly target vulnerable communities.
      • Amazon has defended its practice of selling to law enforcement, saying that the software has already helped find victims of abduction...
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      Mentions: CEO Amazon risk
    19. Facebook Quietly Made a Huge Concession to Shareholders as it Aims to Avoid Another Data Disaster

      Facebook Quietly Made a Huge Concession to Shareholders as it Aims to Avoid Another Data Disaster
      • Facebook has beefed up the power of its audit committee, which is chaired by former White House chief of staff Erskine Bowles.
      • The committee will monitor Facebook's social impact, privacy safeguards, and cybersecurity risk.
      • It is being seen as a major concession to shareholders, who have campaigned for a risk committee.
      • They welcomed the news, but said Facebook will be judged by its actions, not its promises...
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    20. Elon Musk Bought $25 Million Worth of Tesla Stock, Just a Day After Laying Off 9% of Tesla Employees

      Elon Musk Bought $25 Million Worth of Tesla Stock, Just a Day After Laying Off 9% of Tesla Employees

       

      • Elon Musk bought about $25 million worth of Tesla stock this week.
      • His purchases come after Musk announced to Tesla employees that the company was cutting 9% of its workforce.
      • It could be a signal to employees and Wall Street that he's still optimistic about the future of Tesla.

      Tesla Motors CEO Elon Musk has personally purchased about $25 million worth of stock in his own company, according to a filing with the SEC on Wednesday.

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      Mentions: CEO SEC Tesla
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