Bloomberg Opinion

The extra financial burden on the police of protecting Harry and Meghan could be covered easily by his father

Nvidia's price hikes should motivate US AI firms to follow the lead of their Chinese competitors and improve their chip-management software

Choosing to hire a CEO who’s a “distressed asset” is kinda like buying a piece of furniture on Facebook Marketplace in “fair condition”: You never know what you’re gonna get

Mukesh Ambani needs a clean succession plan. His son's wildlife sanctuary is getting in the way

It was a mistake for Democratic House leader Hakeem Jeffries to have a secret huddle with the president's son-in-law

China's booming secondhand market is an opportunity for luxury firms whose sales have suffered

LeBron James is very famous and cool. This should, you might think, lower the expected return of the LeBron bonds.

Gary, Indiana's suffering is a reminder that the people most vulnerable to a climate-fueled disaster are almost always those with the least means to brace and recover from it. This even applies to America's heartland. Gift link to my column for Bloomberg Opinion: https://lnkd.in/gpd-22zj

The latest climate-fueled disaster isn't in some faraway island but in America's heartland

L3Harris knew Christopher Kubasik came with serious baggage when it hired him as president and COO in 2015. Three years earlier, he'd resigned from Lockheed Martin after an ethics investigation found he'd had been having a close personal relationship with a subordinate. He was just two months away from becoming CEO. But Kubasik offered something the L3 Harris board could not resist. He had an impressive resume and track record, with acumen for the business if not for his own reputation management. His downfall at Lockheed had put a star manager on sale. “It's a two-sided matching process,” University of South Carolina business school professor Donald Schepker told me. “The executive is looking to get back into the game. The board sees a distressed asset.” In the end, Kubasik turned out not to be the ideal bargain the company thought it was getting. Last week, the defense contractor announced that Kubasik, now its chairman and CEO, was out after an investigation found conduct “not consistent with the values of the Company as outlined in its Code of Conduct.” His ouster from L3Harris reveals a hazardous asymmetry in the way boards tend to assess CEOs. Directors have reams of data about a candidate’s financial performance. Character and integrity are much harder to measure. But boards make a perilous choice when they consider the latter a soft, personal quality separate from business execution. “There's an important axiom that boards should consider: People get hired for the experiences they have had. They get fired for who they are as leaders,” says Jane Edison Stevenson, global vice chair of board and CEO services at Korn Ferry. My latest for Bloomberg Opinion. (gift link!) https://lnkd.in/g2J7S495