brand news

In the News: Nike, Volkswagen, Google and more

Posted by Dale Buss on February 22, 2013 08:58 AM

In the NewsNike quickly backs away from Oscar Pistorius.

Volkswagen putting plug-in hybrid into production.

Google unveils touch-screen laptop.

Apple sees hedge-fund manager press his case against it.

Avon weighs exits from more countries.

Billabong posts record loss.

Boeing CEO stays in background to work on Dreamliner problem.

Citigroup toughens rules for executive bonuses.

Facebook COO bombs glass ceiling with new book.Continue reading...

brand news

In the News: Aston-Martin, Gilt, YouTube and more

Posted by Dale Buss on December 7, 2012 09:02 AM

In the News

Aston-Martin sells stake to Italian private-equity firm.

Citigroup sees CMO depart for Gilt.

YouTube relaunches site to feature original channels.

Coca-Cola relaunches Glaceau Vitimanwater in the UK.

Daily Beast considers charging for web content as Washington Post also plans paywall.

Delta faces California suit over app.

Ford finds opportunities in "social shifting."

Google to rein in free Google Apps.Continue reading...

executive decision

$1 Billion Here, $1 Billion There: New Citigroup CEO Slashes 11,000 Jobs

Posted by Dale Buss on December 5, 2012 05:07 PM

Citibank continues its long slog back from the financial crisis with a new CEO, but soon without 11,000 of its workers. The leading bank brand said today that it would save an estimated $1 billion a year by reducing global workforce by around 4 percent, mostly in technology and support jobs.

Most of Citi's problems haven't been in the back offices, however, but in the executive suite. It has lagged its peers in recovering from the crisis, and its CEO during the worst period, Vikram Pandit, was pushed out by directors recently in favor of Michael Corbat, the new CEO.

Corbat's first steps to reorganize the company involve cutting most of the related jobs in Citi's consumer-banking unit, where the bank expects to sell or scale back operations in Pakistan, Paraguay, Romania and Uruguay. It plans to focus instead on 150 higher-growth markets.Continue reading...

brand news

In the News: Netflix, GSK, Tesco and more

Posted by Dale Buss on December 5, 2012 09:05 AM

In the News

Disney and Netflix sign landmark agreement for the web streaming service.

GlaxoSmithKline begins assembling new global branding effort on its impact around the world.

Tesco bails out of Fresh & Easy venture in U.S.

AOL's group acquires Buysight.

Apple upgrades iTunes, secures USPTO patent for "retina."

Beer tax dispute heats up in Europe.

Blu Dot tests Twitter game of musical chairs.

BMW has US luxury auto sales crown in its sights.

Campbell Soup Company donates $500K to Salvation Army.

Citigroup announces 11,000 job cuts and $1B charge.Continue reading...

brand news

In the News: Twinkies, BP, GM and more

Posted by Dale Buss on November 19, 2012 08:59 AM

In the News

Hostess liquidation sees opportunists stock up on Twinkies as future of its brands hangs in balance and unions cling to hope of a buyer.

BP seen as takeover target now, as valuation slides.

GM opens $1.3 billion China plant for Baojun budget brand.

Ben & Jerry's turns fans' Instagram pictures into ads.

CCTV ad haul for Chinese television bodes well for economy.

Cisco to buy networking-hardware company Meraki for $1.2 billion.

Citigroup to cut more jobs.

Dish Network is frustrated in dream of breaking into wireless.Continue reading...

brand news

In the News: Amazon, Citi, Chanel and more

Posted by Dale Buss on October 26, 2012 09:02 AM

In the News

Amazon swings to loss on aggressive spending on future growth, worries about Apple's iPad mini, while Apple disses Microsoft Surface tablet.

BBC sees dimensions of Jimmy Savile sex abuse scandal grow.

Bank of America still dealing with fallout from collapse of Countrywide.

Chanel benefits from buzz created by Brad Pitt campaign.

Cheesecake Factory bucks casual-dining traffic decline.

Chipotle considers once-forbidden veer toward fast-food platform.

Citigroup CEO exit reportedly was planned for months.Continue reading...

executive decision

Harvard's Lunch Ladies Called Citibank's New CEO Years Ago

Posted by Mark J. Miller on October 16, 2012 11:59 AM

Vikram Pandit shocked Wall Street (Exhibit A: the Wall Street Journal homepage) when he abruptly resigned as CEO of Citibank Tuesday after clashing with the board and prompted his right hand, COO John Havens, to exit with him. Pandit's corner office won't remain empty for long.

Sliding right in following his ouster was Mike Corbat, who had been running Citi’s international operations of Europe, Middle East and Africa for less than a year and was clearly being groomed for the role. The WSJ calls Corbat, a Citi veteran and its former head of investment banking, the company's "Mr. Fix-It," writing that Pandit often used Corbat as a repairman of sorts, and his history at the bank backs up that notion.Continue reading...

brand news

In the News: Citi, Yahoo, Foxconn and more

Posted by Dale Buss on October 16, 2012 09:01 AM

In the News

Citigroup CEO Vikram Pandit and COO John Havens quit unexpectedly; board elevates EMEA CEO Mike Corbat to top spot.

Yahoo CEO Marissa Mayer, back from two-week maternity leave, poaches new COO from her previous employer Google.

RIM sees its once-iconic BlackBerry slip into black-sheep territory.

CBS extends CEO Les Moonves for two more years to 2017.

Chrysler opens availability of natural-gas-powered Ram pickup to retail sales.

Facebook opens UK engineering hub to focus on mobile.

Foxconn admits to breaching child labor laws.Continue reading...

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