(CNN)Retired NFL quarterback Peyton Manning said he is not planning to run for US Senate to replace retiring Tennessee Republican Sen. Bob Corker.
(CNN)Retired NFL quarterback Peyton Manning said he is not planning to run for US Senate to replace retiring Tennessee Republican Sen. Bob Corker.
Equifax Inc. Chief Executive Officer Richard Smith stepped down, joining other senior
managers who left the credit-reporting company in the wake of an uproar over the theft of private data on 143 million Americans.
Smith will be replaced on an interim basis by Paulino do Rego Barros Jr., 61, a seven-year company veteran who was most recently president of the Asia-Pacific region, the Atlanta-based firm said Tuesday in a statement. Board member Mark Feidler, a former BellSouth Corp. president, was named non-executive chairman.
“The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right,” Smith said in the statement. “At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward.”
Equifax has drawn outrage from lawmakers and scrutiny from regulators since Sept. 7, when it disclosed one of the biggest cyberattacks in history. Hackers stole sensitive data — including Social Security numbers, birth dates and other identifying information — for much of the adult U.S. population. Smith will still testify before Congress next week about the breach, Equifax spokeswoman Ines Gutzmer said in an email.
Senator Mark Warner, a Virginia Democrat, called Equifax “a travesty” during a Senate hearing on Tuesday, saying Smith’s resignation “is by no means enough.” Senator Brian Schatz of Hawaii said the company needs to be held responsible for its actions.
“A CEO walking out the door just days before he is to appear before Congress is an abdication of his responsibility,” Schatz, a Democrat, said in a statement.
Jaret Seiberg, a Cowen & Co. LLC analyst, said Smith’s immediate departure could be a “political positive” for Equifax, compared with him leaving under pressure after the hearings.
Equifax shares fell 1.3 percent to $103.68 at 11:33 a.m. in New York and have tumbled 27 percent since the hack was announced. Smith’s departure is an “incremental negative,” SunTrust Robinson Humphrey analyst Andrew Jeffrey said in a note to investors.
“Rick Smith has been integral to Equifax’s impressive decade-plus long growth,” said Jeffrey, who has a buy rating on the stock. “We would have liked to see him weather this storm.”
Smith has $18.4 million in retirement benefits and could stand to get millions of dollars more, including lifetime health coverage, according to a regulatory filing. A decision about how much he will receive will be deferred until the board completes its review of the breach, the company said Tuesday in an updated filing. He won’t get a bonus for fiscal 2017.
Senator Elizabeth Warren, a Massachusetts Democrat, called on Smith and other Equifax executives to return some compensation and said Barros and Feidler should also testify before Congress.
“It’s not real accountability if the CEO resigns without giving back a nickel in pay and without publicly answering questions,” Warren said in a statement.
Barros, who joined Equifax in 2010, was previously head of U.S. Information Solutions, the company’s largest unit. Before joining the credit-reporting firm, he was founder and president of PB&C – Global Investments and earlier was president of global operations for AT&T Inc.
Smith, who will remain as an unpaid adviser to the company, isn’t the first executive to leave in the wake of the disclosure. The firm’s chief information and chief security officers departed as of Sept. 15, the company said in a statement that didn’t identify the executives. David C. Webb, who joined the firm in January 2010, was previously chief information officer, according to an annual regulatory filing in February. Susan Mauldin had been chief security officer, according to her professional profile on LinkedIn and an Equifax press release from 2015.
For more on Equifax, check out the podcast:
Mark Rohrwasser was named interim CIO and Russ Ayres was appointed interim CSO, reporting to Rohrwasser, according to the Sept. 15 statement.
Smith joined Equifax as CEO in 2005 after spending more than two decades climbing ranks at General Electric Co., where he worked in divisions focusing on plastics, modular homes, car fleets and insurance. Over almost 12 years at Equifax, the company’s stock more than quadrupled before the breach was announced.
On Sept. 13, Equifax conceded that hackers exploited a software vulnerability known as Apache Struts CVE-2017-5638. Computer-security specialists had publicly identified that weakness earlier this year, offering a patch to fix it in March. Equifax has said the breach happened sometime after mid-May and was discovered July 29.
“This is the most humbling moment in our 118-year history,” Smith wrote in an op-ed posted to USA Today’s website Sept. 12. “We apologize to everyone affected.”
Two days later, Senate Minority Leader Chuck Schumer called for Smith and the company’s board to quit. The incident is “one of the most egregious examples of corporate malfeasance since Enron,” the Democrat said, referring to the Texas energy trader that collapsed in 2001 after lying about its finances.
Lawmakers have threatened to boost oversight of the industry, which is supposed to safeguard data that could be used for identity theft and fraud. The Federal Trade Commission announced a probe, citing the “intense public interest and the potential impact.”
The BBCs plan to have millennials reverse mentor managers is just a start. The generation gap is going to affect all our working lives, writes Guardian columnist Gaby Hinsliff
Old dogs, meet new tricks. The BBCs director of radio and education, James Purnell, didnt put it quite so bluntly. But thats more or less the gist of his announcement that from next month senior managers will be reverse mentored by twentysomethings who can help them understand what millennials like.
Since the short answer to this question is not the BBC, its easy to grasp why he might have acted. The Beeb is fighting a losing battle with Netflix and YouTube for younger viewers attention while new rivals such as Facebooks venture into original programming are emerging all the time. The BBC has already been ticked off by Ofcom for being overly focused on middle-aged, middle-class audiences, not very good at portraying minority groups and lacking in edgy content.
With apologies to all those middle-aged viewers already struggling to find anything to watch of an evening, the consensus is that it needs to get more down with the kids. Hence this plan to turn traditional mentoring which normally involves a successful silverback graciously passing on their accumulated wisdom to young hopefuls on its head.
And the BBC is not alone. The idea that the old have much to learn from the young, as well as vice versa, is increasingly gaining traction in corporate life. Big companies, from the consultancy firm Ernst & Young to the American retailer Target, have used reverse mentoring for everything from helping older workers to master new IT to spreading new thinking and gently challenging outdated working practices (no, its not weird for men to want to go part-time when they have kids; yes, people can be perfectly productive while working from home).
As early retirement becomes a thing of the past, reverse mentoring is seen as a way of helping older workers stay in the game for longer and easing the friction between generations. Watch the Conservative partys current painful efforts to get its head around what younger voters want, and you get some inkling of why it might be necessary.
Yet the very suggestion of being babysat by some youngster with one eye on your job will doubtless infuriate some. At best, the implication that the middle-aged are out of touch is faintly insulting; at worst, it sounds like the beginning of being put out to grass. Given how so many older workers are currently treated by their employers, such suspicions are hardly surprising.
They say that 50 is the new 40, but to the world of work my kind of work anyway 50 may as well be 60 or 70 or 80. As a matter of urgency, I need to get younger, not older. Its a question of survival. So says Kate Reddy, the heroine of Allison Pearsons new novel How Hard Can It Be?, of her return to the City after a career break.
Being vulnerable isn’t our first instinct. We’re human after all, which means most of the time we’re shamelessly stubborn and independent in the hopes of appearing strong and put-together.
This is especially true when we’re in the throes of unemployment. The thing is—and you know this—when we let our pride go and admit we need help, we usually surprise ourselves with the outcome.
Take Farah Patel. Earlier this year, she was laid off from her sales position due to company downsizing. Because she’d relocated to San Diego for the role four months earlier, she found herself unemployed in a new city with no personal connections.
So, she turned to the one platform she knew would reach the people who mattered:
“I started using LinkedIn 10 years ago, when I first started as a recruiter in New York in 2007. I rarely posted updates on LinkedIn, but I had written a couple of articles and found it was a good way to keep in touch with business contacts. A few minutes after being laid off, I got into my car and posted a couple of sentences through the mobile app about my need for a new opportunity, and included my background.”
In response, she received an overwhelming number of comments. Some were from recruiters or hiring managers asking to meet with her, others were from contacts and friends recommending positions and tagging employers, and even more were personal stories and notes of encouragement from people who’d also been laid off in the past.
“I was surprised by how many people were genuinely supportive and willing to help a total stranger,” she told me when I reached out to learn more about her story. “I was so touched by the kindness of strangers that I responded to every single email I got.”
Farah received over 300 messages via LinkedIn and email, and at one point had 20 interviews over a period of just 15 days. For sales, she knew how important it was to work for a company and product she could stand behind, so one opportunity stuck out among the rest:
“I knew after my initial phone interview [with Vonage] that I wanted to keep moving forward in the interview process, and it only got better with each team member I spoke with. The possibilities of having a platform like [Vonage’s] are endless, and the culture was fresh and new and [full of] really smart, forward thinking people.”
Fast-forward through that interview process and she was able to post this:
There’s nothing wild and crazy about Farah’s job hunt—she didn’t craft an overly-designed cover letter, she wasn’t BFFs with the CEO, and she wasn’t breaking into a new field. What she did to land her job was simple: reach out to her network. And because of that, she’s now a Senior Cloud Solutions Sales Executive at Vonage.
If there’s anything you take away from this story, it’s that there’s nothingwrong with allowing yourself to be vulnerable and asking for help—in anything you do, but especially in your job search.
And it doesn’t have to be in a public place like LinkedIn. It can be as simple as reaching out to your network and telling them what’s going on. If one measly email can make your job search easier, why wouldn’t you send it?
This article originally published at The Muse here
You hear that? That collective groan of apprehension echoing across the internet in the last day or so?
That’s the sound of Watchmen fans reacting to an Instagram post by Damon Lindelof (of LOST/ The Leftovers fame) that indicates he’s hard at work on an adaptation of the popular graphic novel for HBO.
To Lindeof’s credit, it’s a somewhat cryptic post but, if you’re a fan of the original novel, not cryptic enough to know what’s up.
In the novel, that’s the trophy given to Hollis Mason (a.k.a. the original Nite Owl) in honor of his service upon his retirement. In an ironic twist, Mason is — spoiler alert on a 32-year-old graphic novel — later beaten to death with this trophy.
This teaser isn’t a surprise though — Lindelof and HBO have been chatting about bringing Watchmen to the small screen for a spell, and it seemed like an almost-done deal earlier this summer.
Nothing else — staff, stars, when it begins filming, etc. — is known, but this seems to be a pretty clear confirmation that something is going on.
And with Netflix’s continuing success with Marvel titles (as long as you don’t count Iron Fist), the marriage makes sense: Lindelof has proven he can handle the sci-fi and fantasy elements of a long, over-arching story (though your mileage on LOST may vary), while HBO is the kind of network that will let the series grow and breathe on its own.
HBO will also need to fill the void left by the departure of Game of Thrones in 2019, and if there’s a story that has a cult-like following devoted enough and also a mass appeal wide enough to make the leap to TV and be successful, it’s Watchmen (which is, for what it’s worth, a DC property).
Oh, and all the violence and nudity. HBO can show all that, too.
So fire up your Dr. Manhattan memes because they’ll be just as relevant for a little while longer.
New Delhi (CNN)Tributes are being paid to Marshal Arjan Singh, India’s last five-star officer and the only member of the Indian Air Force (IAF) to be awarded the accolade.
Investing tailored to women is turning out to be big business. Ellevest, the platform for investing for women, just raised $34 million.
Investing for women sounds like it could be an insulting idea—don’t women understand investing the normal way?—but that’s not what Ellevest is doing. The platform tailors investments to the realities of women’s careers: they face a gender pay gap, they live longer, and their salaries peak earlier than men’s. That means they need to save for retirement differently.
Ellevest is hoping to beat out some of the roboadvising competition—and close the gender savings gap at the same time.
Rethink Impact, a venture capital firm that looks for companies run by women, led the funding round. PSP Growth, Salesforce Ventures, CreditEase Fintech Investment Fund, LH Holdings also participated, as did Ellevest’s returning investors.
With this funding round, Ellevest will add human financial planners as an option to complement its roboadvising services. That’s something other investing startups like Betterment have also added recently. Those changes have helped roboadvisors tap slightly older customers who are more comfortable using a roboadvisor when there’s also someone they can talk through their finances with.
“I’m thrilled these global leaders—who are female ‘firsts’ and technology innovators—are joining Ellevest’s mission to end the gender gap in investing and personal finance,” Ellevest CEO and Wall Street veteran Sallie Krawcheck said in a press release. “We will use this new funding to build on the momentum in our digital offering, and develop solutions with women in our community who are asking us for human interaction and financial planning services.”
(CNN)In the space of one hour and eighteen minutes, Maria Sharapova’s life would change for ever.
Emma Stone as Billie Jean King and Shia LaBeouf as John McEnroe go head-to-head this autumn. Our critic plays umpire
Tennis addicts can rest easy in the sense of staying up all night to watch tennis. Somewhere in the world an important tournament is under way and on subscription TV. The less seriously committed are faced with the long inter-slam drought between the US and Australian Opens. Fortunately palliatives are at hand in the form of two movies, Battle of the Sexes and Borg vs McEnroe.
The first film is about the 1973 match between Billie Jean King and the self-proclaimed male chauvinist pig and former world No 1 Bobby Riggs; the second focuses on the 1980 Wimbledon final. They are linked by the way that in 2000 Donald Trump offered John McEnroe a million dollars to play either of the Williams sisters at one of his hotels. As McEnroe recounted in his 2002 autobiography Serious, the sisters claim that they could beat ranked male players prompted him to respond that any respectable male player, be it a top college competitor, a senior player, or a professional, could beat them. Trump stumped up the money but the Williamses came to their senses and put out a statement that they didnt want to play against an old man.
That was the end of that until this summer when McEnroe published a sequel, But Seriously a book even well-disposed critics had trouble taking seriously and, possibly as a controversy-provoking way to nudge it up the rankings, ventured the opinion that Serena would be ranked around 700 on the mens tour. She volleyed back that he should respect her privacy at about the time that she had appeared naked and pregnant on the cover of Vanity Fair. History has a way of repeating itself, first as farce and then as farce.
The difference is that the first time around, when 29-year-old King played the 55-year-old Riggs, it was precisely the farcical nature of the encounter that made it so serious. Riggs, as King understood, was a clown and a hustler, and the more ridiculous his antics the more demeaning it would be if she lost. Especially since he had already beaten Margaret Court who, exactly as predicted, wilted under the pressure of the occasion. So while Riggs did everything he could to publicise the forthcoming bout, King trained for it.
Since all of this build-up, match and aftermath was filmed, recut and retold in an excellent recent documentary, the question is whether there was any need to re-enact the story in a biopic. Perhaps the fact that there was no need freed the film-makers Jonathan Dayton and Valerie Faris to come up with a striking piece of cinema in a way that the similarly superfluous Selma never managed.
(CNN)Much has been made of the resurgence of Roger Federer and Rafael Nadal this season.