- ‘It’s Gross’: Morgan Wallen Updates Fans About Latest Move From ‘Greedy’ Old Management The Daily Wire
- Morgan Wallen Fans Pan Anniversary Album Released By Former Collaborators TMZ
- Morgan Wallen warns young artists after ‘gross, greedy’ album dropped against his will WKRN News 2
- Morgan Wallen Slams ‘Greedy’ Ex-Partners Issuing ‘Terrible’ Decade-Old Tracks; Indie Label Says ‘We Believe Some of His Fans Will Love It’ Variety
- Country music star slams ex-producers for issuing project ‘against my wishes’ MassLive.com
Tag Archives: Management
Ex-Twitter Blue chief on Musk’s ‘lack of process’ and impulsive management style – TechCrunch
- Ex-Twitter Blue chief on Musk’s ‘lack of process’ and impulsive management style TechCrunch
- She Slept on Twitter’s Floor, but Elon Musk Laid Her Off Anyway. Her Response Is a Master Class in Emotional Intelligence Inc.
- Twitter exec slept in office to meet Elon Musk’s ‘nearly impossible deadline’ Business Insider
- Elon Musk’s former Twitter lieutenant ‘surprised by his willingness to burn so much down’ CNBC
- Fired Twitter exec who slept on office floor says Elon Musk has ‘painful’ lack of empathy New York Post
- View Full Coverage on Google News
The Fed is trying to do the right thing: fmr. Goldman Sachs Asset Management chairman Jim O’Neill – CNBC Television
- The Fed is trying to do the right thing: fmr. Goldman Sachs Asset Management chairman Jim O’Neill CNBC Television
- Markets ‘clearly’ in window for recession and it’s ‘coming soon’: James Iuorio Fox Business
- It’s important the Fed signals it has a high bar for cutting rates, says Harvard’s Jason Furman CNBC Television
- Economy is improving but the Fed isn’t ready to declare victory, says Georgetown’s Paul McCulley CNBC Television
- The Fed’s 2% inflation target is far from mission accomplished, says Barclays’ Meghan Graper CNBC Television
- View Full Coverage on Google News
Cardinals’ DeAndre Hopkins looking for ‘Great management, a QB who loves the game’ – Fox News
- Cardinals’ DeAndre Hopkins looking for ‘Great management, a QB who loves the game’ Fox News
- DeAndre Hopkins’ list of QBs he wants to play with not named Kyler Murray includes Josh Allen, Jalen Hurts Yahoo Sports
- Deandre Hopkins: “I Want Josh Allen To Throw Me The Ball.” | I AM ATHLETE Clip I AM ATHLETE
- Cardinals WR DeAndre Hopkins wants ‘stable management upstairs’ more than anything in 2023 and beyond NFL.com
- DeAndre Hopkins: I want stable management, a QB who loves the game and a great defense profootballtalk.nbcsports.com
- View Full Coverage on Google News
NBA All-Star takeaways: On Giannis’ health, load management, Mitchell’s moment and a happy Kevin Durant – The Athletic
- NBA All-Star takeaways: On Giannis’ health, load management, Mitchell’s moment and a happy Kevin Durant The Athletic
- Team Giannis beats Team LeBron 184-175 in NBA All-Star Game Milwaukee Journal Sentinel
- Don’t be fooled by Nikola Jokic’s All-Star antics. Giannis Antetokounmpo wasn’t. The Denver Post
- Giannis Antetokounmpo Says The Boston Celtics And Miami Heat Are Only Teams That Can Defend Him Sports Illustrated
- Giannis Played Just 20-Seconds of the All-Star Game, Leaving Bettors Begging for Refunds on Twitter The Big Lead
- View Full Coverage on Google News
Goldman Sachs Cut CEO David Solomon’s Pay to $25 Million in 2022
Goldman Sachs Group Inc.
GS 0.07%
Chief Executive
David Solomon
took a nearly 30% pay cut in 2022.
Mr. Solomon received $25 million in total compensation last year, down from $35 million in 2021. His 2022 pay package consisted of a $2 million base salary, a cash bonus of $6.9 million and a $16.1 million stock award that is tied to how well the bank performs in the next few years, Goldman said in a regulatory filing.
Mr. Solomon’s 2022 compensation reflects the bank’s performance compared with 2021, Goldman said in the filing. Profit fell 48% last year, and revenue declined 20%, largely due to a slowdown in corporate deal-making that had previously fueled blockbuster earnings. Still, Goldman shares outperformed the KBW Nasdaq Bank Index and the broader S&P 500 last year.
In 2021, the bank’s shares were soaring and the bank was minting money in a merger boom that kept its high-price bankers busy.
Goldman doubled Mr. Solomon’s pay that year, an acknowledgment of the bank’s record profits and following a year when he was penalized for the firm’s involvement in the 1MDB corruption scandal. The bank also awarded Mr. Solomon a one-time stock award of about $30 million that year, citing “the rapidly increasing war for talent in the current environment.”
Late last year, Mr. Solomon engineered a restructuring of Goldman’s businesses meant to spotlight steadier businesses like asset and wealth management, taking some of the focus off its more volatile Wall Street operations.
He’s also paring back the bank’s consumer-facing Marcus operations and has admitted that Goldman’s attempts to do too much there contributed to missteps. The bank’s newly created Platform Solutions division, which houses credit cards and other pieces of the consumer business, lost about $2 billion on a pretax basis in 2022.
Mr. Solomon has moved to cut costs at Goldman. The bank laid off some 3,000 employees this month and slashed bonuses for many bankers by up to 40%.
Goldman’s compensation committee also considered the bank’s “continued progress in its strategic evolution as well as Mr. Solomon’s strong individual performance and effective leadership,” according to the filing.
Mr. Solomon’s pay fell more than his Wall Street counterparts.
Morgan Stanley
paid Chief Executive James Gorman $31.5 million for his work in 2022, a 10% pay cut from the year before.
JPMorgan Chase
& Co. awarded CEO Jamie Dimon $34.5 million in 2022 compensation, in line with a year earlier.
Wells Fargo
& Co. CEO Charles Scharf’s 2022 pay also stayed flat at $24.5 million in 2022.
Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Blizzard studio halts union plans amid alleged management meddling [Updated]
Enlarge / A scene from Proletariat’s Spellbreak illustrating union members dodging alleged management interference.
Last month, workers at Spellbreak studio Proletariat became the third group within Activision Blizzard to form a union. Today, though, the Communication Workers of America is pulling back on its push for a National Labor Relations Board (NLRB) election that could have forced parent company Activision Blizzard to recognize that union. In doing so, the CWA cites actions by Proletariat CEO Seth Sivak that have made “a free and fair election impossible.”
In a statement provided to Ars Technica, a CWA spokesperson said Sivak “chose to follow Activision Blizzard’s lead and responded to the workers’ desire to form a union with confrontational tactics.” Those tactics include “a series of meetings that demoralized and disempowered the group,” according to the CWA.
Proletariat Software Engineer Dustin Yost said in an accompanying statement that those management meetings “took their toll” on the group by “fram[ing] the conversation as a personal betrayal, instead [of] respecting our right to join together to protect ourselves and have a seat at the table…”
Proletariat said last month that an “overwhelming majority” of workers at the studio signed cards in support of a union. But Activision Blizzard declined to voluntarily recognize the union, leading the CWA to push for an NLRB election to force the issue in the weeks before today’s turnaround.
Under NLRB rules, it is illegal for an employer to “interfere with, restrain, or coerce employees” who are trying to unionize. But despite the talk of management’s “confrontational tactics” here, the CWA has not announced that it has filed any unfair labor practice complaints with the NLRB over this kind of violation.
Too far too fast?
Last May, QA testers at Activision Blizzard studio Raven Software won a similar NLRB election to become the first fully recognized union in the US game industry. In December, QA workers at Blizzard Albany won their NLRB election to achieve recognition.
Unlike those studios, however, Proletariat was pushing for a union that represented all non-management employees, not just those in the quality-assurance department. That has seemingly led to reports of internal strife over the speed and breadth of the union-organizing effort at the Boston-based studio.
In response to a request for comment, Activision Blizzard VP of Media Relations Joe Christinat said that the company “welcomed the opportunity for each employee to safely express their preferences through a confidential vote. Our team at Proletariat does extraordinary work every day. They remain focused on working with their teams to continue to make Proletariat a place where all can grow, thrive, and be part of an amazing team and culture.”
[Update (Jan. 25): Speaking to Ars Technica, Chritinat said that allegations of “confrontational tactics” from Sivak are “totally false.”
“The Proletariat CEO was responding to concerns from employees who felt pressured or intimidated by CWA and wanted more information about what joining a union could mean,” he said. “He was defending his employees’ right to express their true preferences in a private vote, so they couldn’t be targeted for their perspectives—like he himself is being targeted by the CWA right now in public statements.”]
In a statement distributed to the press earlier this month, a Blizzard spokesperson said that “some employees said they felt pressured to sign union cards, were inadequately informed about what they were signing and what it meant when they signed… We want to ensure that all employees can make their voices heard, as this is their decision.”
After launching the clever magic-based battle royale game Spellbreak in 2020, Proletariat was purchased by Activision Blizzard last June and transitioned to making content for World of Warcraft.
Goldman Sachs announces reduction in asset management investments
Goldman Sachs head of personal finance management Joe Duran provides his 2023 market outlook and discusses the firm’s ‘tough decision’ to cut 3,200 jobs on ‘Varney & Co.
Goldman Sachs Group Inc’s asset management section will make significant cuts to the $59 billion of alternative investments that impacted its earnings.
Alternative assets can include private equity or real estate instead of traditional investments like stocks and bonds.
The firm will divest its positions over the next few years and replace some of those funds on its balance sheet with external capital, according to Julian Salisbury, chief investment officer of asset and wealth management at Goldman Sachs.
“I would expect to see a meaningful decline from the current levels,” Salisbury told Reuters. “It’s not going to zero because we will continue to invest in and alongside funds, as opposed to individual deals on the balance sheet.”
FEDERAL RESERVE INVESTIGATING GOLDMAN SACHS’ CONSUMER BUSINESS
Goldman Sachs Group Inc’s asset management section will make significant cuts to the $59 billion of alternative investments that impacted its earnings. (Reuters Photos)
Goldman Sachs had a poor fourth quarter, when it missed Wall Street profit targets by a substantial margin. The bank is firing more than 3,000 employees in its biggest round of job cuts since the 2008 financial crisis.
The bank’s asset and wealth management posted a 39% drop in net revenue to $13.4 billion in 2022, with its revenue from equity and debt investments declining 93% and 63%, respectively, according to earnings announced last week.
The $59 billion of alternative investments held on the balance sheet dipped from the prior year’s $68 billion, according to the results. The positions included $15 billion in equity investments, $19 billion in loans and $12 billion in debt securities, as well as other investments.
“Obviously, the environment for exiting assets was much slower in the back half of the year, which meant we were able to realize less gains on the portfolio compared to 2021,” Salisbury said.
Salisbury expects to see “a faster decline in the legacy balance sheet investments” if the environment for asset sales improves.
CONCERNS OVER A ‘WHITE COLLAR RECESSION’ GROW AS GOLDMAN SACHS, MORGAN STANLEY, AMAZON AND OTHERS CUT JOBS
The firm will divest its positions over the next few years and replace some of those funds on its balance sheet with external capital. (REUTERS/Andrew Kelly/File Photo / Reuters Photos)
“If we would have a couple of normalized years, you’d see the reduction happening” during that period, he said.
He also said clients are showing interest in private credit because of poor capital markets.
“Private credit is interesting to people because the returns available are attractive,” Salisbury said. “Investors like the idea of owning something a little more defensive but high yielding in the current economic environment.”
Goldman Sachs’ asset management arm closed a fund of more than $15 billion earlier this month to make junior debt investments in private equity-backed businesses. Private credit assets in the industry have more than doubled to more than $1 trillion since 2015, according to data provider Preqin.
Investors are also growing interested in private equity funds and are trying to purchase positions in the secondary market when existing investors sell their stakes, Salisbury said.
The bank is firing more than 3,000 employees in its biggest round of job cuts since the 2008 financial crisis. (Getty Images)
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The U.S. investment-grade primary bond market began the new year with a number of new deals.
Salisbury said the market rally has “more legs” because investors are willing to buy bonds with longer maturities while also looking for higher credit quality due to the uncertain economic environment.
Goldman Sachs economists predict the Federal Reserve will raise interest rates by 25 basis points each in February, March and May before holding steady for the rest of the year, Salisbury said.
Reuters contributed to this report.
HIGH blood sugar management: 5 types of nuts that are good for people with diabetes – check complete list | Health News
If you have diabetes or high blood sugar, what cannot and can be eaten becomes a major topic of concern. Diet plays a significant role in controlling Type 2 diabetes and as Sumaiya A, Clinical Dietitian, Fortis Hospital, Kalyan, points out, one such beneficial food item for people with diabetes is nuts as they have many nutritional benefits. Nuts are high in monounsaturated and polyunsaturated fats, fibre, vitamins, minerals, and phytonutrients. The dietitian points out that when a diabetic person consumes nuts, they feel fuller. Due to this, when they have a proper meal, the consumption of the quantity of rice or chapati decreases, which in turn, helps in getting the sugar level under control.
High blood sugar: Why you should have THESE nuts
Sumaiya A lists the different types of nuts that are good for people with diabetes and why:
1) Almond: Consumption of this nut is especially good when it comes to glucose control in pre-diabetes. Almonds are high in many nutrients along with fiber, vitamin E, magnesium, and vitamin 12, so include them in snacks.
2) Pistachio: It has a low glycemic index and eating pistachios improves glycemic status in people having Type 2 diabetes. A Mediterranean diet rich in pistachios improves glucose levels, low-density lipoprotein cholesterol, and total cholesterol levels.
3) Walnut: It is a store house of omega 3 and is also used to make walnut oil. Walnut contains protein and polyunsaturated fats. Unsaturated fatty acids (monounsaturated fatty acids and polyunsaturated fatty acids) present in walnut may play a role in glucose control and also suppress your appetite by allevating hunger.
Also read: Lowering high blood sugar to making bones stronger: 7 amazing health benefits of drumsticks
4) Cashew nut: Cashew nut extract has anti-diabetic properties. And while fat content in cashews are relatively higher, most of this is good fat which is healthy for diabetes patients. When it comes to saturated, monosaturated, and polyunsaturated fat, cashews have an ideal fat ratio of 1:2:1. Regular consumption can lower bad cholesterol (LDL) and raise good cholesterol (HDL), which reduces risk of heart ailments. It also helps in lowering blood sugar levels.
5) Peanut: It is high in protein, fats and fibre, while at the same time has a low glycemic index; thus peanuts can reduce the spike in sugar levels.
While nuts are good for health, other health conditions should also be kept in mind and people should consult doctors in case they have problems like heart issues, cholesterol problems, hypertension etc. “All nuts should be consumed in moderate amount to control the sugar levels, and other health conditions,” Sumiaya adds.
Former Halo Infinite Dev Blasts Management Over Layoffs
Of all the Microsoft teams caught in the blast radius of mass layoffs announced yesterday, it’s possible Halo Infinite maker 343 Industries was among the worst hit. The studio has faced a wave of departures following Halo Infinite’s multiplayer struggles, and the new cuts have sparked strong criticism of those who managed it into this mess in the first place.
“The layoffs at 343 shouldn’t have happened and Halo Infinite should be in a better state,” former Halo Infinite multiplayer designer, Patrick Wren, tweeted Wednesday night. “The reason for both of those things is incompetent leadership up top during Halo Infinite development causing massive stress on those working hard to make Halo the best it can be.”
It’s no secret at this point that Halo Infinite faced a tumultuous development cycle, from a constantly rotating cast of directors to long delays after a gameplay reveal was pilloried online for its rough-looking graphics. Former studio leads have also previously hinted at periods of crunch on the project, while a Bloomberg report detailed developers’ struggles with the game’s engine and problems with Microsoft’s reliance on contract workers who constantly filtered out of the studio rather than full-time staff. “The contract stuff is a whole other can of worms that pisses me off,” Wren tweeted last night. “So many amazing people and talent that just disappeared.”
It’s extremely rare for game developers to speak candidly about the issues they’ve witnessed on past projects, let alone share their opinions openly about how a team or studio was managed. Wren, who left 343 Industries just before Halo Infinite’s launch in 2021, went on to praise his former colleagues and their efforts to deliver on the full promise of the game’s multiplayer.
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“The people I worked every day with were passionate about Halo and wanted to make something great for the fans,” he tweeted. “hey helped push for a better Halo and got laid off for it. Devs still there are working hard on that dream. Look at Forge. Be kind to them during this awful time.”
The harsh criticism came after Microsoft announced 10,000 jobs would be cut across the tech giant’s operations, including gaming, despite reporting “record results” last year, including $83 billion in operating income. The night before, the company’s top executives were reportedly busy being serenaded by Sting at a personalized concert in the Swiss Alps.
Meanwhile, as reports from Kotaku and others poured in that Xbox studios ranging from The Coalition to Bethesda were caught up in the layoffs, it became clear as the day progressed that 343 Industries was facing especially brutal cuts as many developers on Halo Infinite, including some very senior ones, shared the news on on social media that they’d been impacted.
Even prior to yesterday’s layoffs, 343 Industries has been facing wave after wave of high level departures as Halo Infinite struggled to ship new seasonal updates and features on time. The most notable was studio head Bonnie Ross’ departure last September. More recently, multiplayer director and longtime Halo veteran Tom French revealed he was leaving in December. And yesterday, amid the chaos, Bloomberg reported that director and longtime Halo writer, Joseph Staten, was headed to the Xbox publishing side of the business as the studio made the “difficult decision to restructure.”
Even more unfortunate, this latest setback for the studio comes on the heels of a rare bright spot in Halo Infinite’s post-launch live service campaign: the Forge creator mode. Following the cancellation of split-screen coop, many fans saw it as an opportunity to save the game by allowing players to make their maps and modes. And so they have, with creations inspired by everything from The Elder Scrolls IV: Skyrim to Pokémon. It’s the most positive some Halo Infinite players have felt since launch but just like that the game’s future is once again uncertain.
Back when Halo Infinite was first revealed in 2020, 343 Industries studio head Chris Lee called it the “start of the next 10 years of Halo.” A few months later he left to join Amazon.