Tag: business

The 5 Families of Feces

Former drivers remain furious over years of abuse. “Who does this fuckin’ scumbag think he is? He looks like he crawled out of a dumpster.” And now the drivers are an existential threat to the business. In June 2015, more of them sued, seeking more unpaid overtime. But this suit has class-action status; more than 1300 pump-truck drivers are currently represented. Charlie has always settled, but not now. “This is the case where I have had it, and I want to fight back to the end. And now the drivers have to, you know, pay.” If Charlie goes to trial and loses, the damages could be in the 10s of millions of $. Call-a-Head would be finished. Charlie has new competition, too: Private equity is making a porta-potty play. In July 2017, Platinum Equity, a Beverly Hills–based investment firm, bought United Site Services, the nation’s largest portable-toilet conglomerate. Charlie frequently fields calls encouraging him to sell. His payday would be enormous, perhaps as much as $40M. He always refuses. And then, in December, Gary Weiner dropped a bombshell. He had just sold himself to United Site Services. Mr. John was throwing in the towel. Within days, the toilet giant was calling Call-a-Head’s clients, offering a 30% discount on rentals. (Weiner disputes this.) A battle with Wall Street and “a lot of college-educated people from Harvard” loomed, but Charlie saw only “bean counters” who didn’t understand the industry. “This is my life. I love it. I’ll always be doin’ it.”

Carlos Ghosn

Spending much of his time at 9K m, confident that Kelly and others had worked out the details of his ample compensation, Ghosn didn’t notice that some of his closest colleagues in Japan were working to engineer his arrest. At times, he’d been collecting more than 2x as much pay as the rest of Nissan’s directors combined, in addition to his other salaries and 5 company residences. He might simply have been enjoying the spoils of corporate success, as his defenders insist. Or, as Nissan and prosecutors argue, he might have transgressed legal and ethical bounds. Either way, he gave his enemies an opening.

2020-01-07: he’s back in corporate housing:

See, Ghosn jumped bail in Japan because he was falsely accused of stealing from Nissan: He paid himself much more money than the officially approved compensation that was reported to investors, charges that he has strenuously denied. “I have not fled justice – I have escaped injustice and political persecution”. And to prove his innocence he escaped from Japan to Lebanon, where … he is stealing from Nissan? Where he’s living in a mansion owned by Nissan, without Nissan’s permission? “The nerve of them, to accuse me of taking anything from Nissan that isn’t mine”, wandering around Nissan’s mansion in Nissan’s bathrobe, taking snacks out of Nissan’s refrigerator as Nissan’s guards glower at him. What?

Great CEOs

We’ve been spending our time lately interviewing the CEO’s of companies like Microsoft and PepsiCo and Facebook. You’d think there’d be some sort of a template for what makes a successful CEO, some set of common characteristics. But the data tell a different story. It’s very hard to pin down just what produces, or predicts, or even indicates a good CEO In the absence of great statistical evidence, we’ll go the anthropological route and ask the question: how do you become a CEO? We’ll track our CEO’s from their beginnings through their ascensions — including how they almost didn’t make it.

Running a fake bar

that’s some interesting undercover work

When Zekman was poached by a rival paper, the feisty Chicago Sun-Times, she proposed a daring project that would go down in the annals of journalism history as both a feat of reporting and a focal point for ethics debates still raging today. For years, Zekman had been collecting tips about city employees extracting bribes from local businessmen, but couldn’t get sources to go on the record; she figured the only way to get the story would be to get inside the system. So she convinced her paper to buy a bar. They would staff it with newspaper workers, run it like any other watering hole (with some notable exceptions that included concealed photographers), and wait to see what happened.

Defining Aggregators

Aggregation Theory describes how platforms (i.e. aggregators) come to dominate the industries in which they compete in a systematic and predictable way. Aggregation Theory should serve as a guidebook for aspiring platform companies, a warning for industries predicated on controlling distribution, and a primer for regulators addressing the inevitable antitrust concerns that are the endgame of Aggregation Theory.