Word: ceo
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...clear. With nondiscretionary products like toys more vulnerable to consumer-spending swings, Toys "R" Us needs to give parents more reasons to shop at its stores. "Certainly, we believe this is right for the times, or we wouldn't be rolling it out," says Gerald Storch, chairman and CEO of Toys "R" Us, which was taken private, for $6.6 billion, in 2005. "This direction is very consistent with economic trends, very consistent with the overall recessionary environment...
...Sumner Redstone? Barry Diller? Really? - I thought about what could have been," says Jeff Chu, a writer who left TIME to work on the Portfolio launch and jumped ship after the first eight months. But more daring editorial choices, like December's cover subject of Dov Charney, the controversial CEO of American Apparel, came across as ill-timed and wrong-footed. "[Newhouse's] best editors in chief all have one thing in common," wrote former staffer Paul Smalera, on the Portfolio-obsessed website Gawker.com, "which is they know how to channel and predict the predilections of their readers and turn...
...company's shares have been "squeezed" more than once this year - forced to cover when the banks had good news. That covering magnified the rebound in Citi's share price. Citi is a "rumor a day" stock. Recently, the market has speculated about the fate of the bank's CEO, Vikram Pandit, whether the firm will have to raise money because of government stress tests, and whether the bank can maintain the earnings it posted for the first quarter. So far this year, the stock has traded in a range of $7.46 to $.97, a short seller's dream...
...December, FedEx announced that its senior executives would earn 7.5% to 10% less, while its U.S.-based salaried workers would take a 5% haircut - affecting 36,000 people. "But even these measures," CEO Fred Smith said in a message to employees, "may not be enough to offset the rapidly deteriorating economy that has hit our industry so hard." In early April, the company let go of 1,000 employees...
...fairness and competitiveness, it's high time for national standards in American schools in English and mathematics. It's a compelling argument, and to accompany the story, I wanted to talk to the man who might actually help implement national standards, Education Secretary Arne Duncan. Duncan, a former CEO of Chicago's schools, has a historic opportunity in his new job. He is a reformer by instinct and experience, and he will have more money to spend on education than any other Education Secretary in history. To those who worry that education is expensive, Duncan says, "Try ignorance...