Trian Fund Management, led by Nelson Peltz, has taken a controversial stance in the proxy battle against Walt Disney by withholding its votes from CEO Bob Iger. This decision goes against Trian’s own proxy recommendations and contradicts Peltz’s public statements about wanting to collaborate with management if he were to be elected to the Disney
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Boeing, the embattled aerospace giant, is undergoing a major management shake-up as CEO Dave Calhoun has announced his plans to step down at the end of 2024. This decision comes amidst increasing pressure from airlines and regulators for significant changes at the company following a string of quality and manufacturing flaws on Boeing planes. In
The demand for weight loss drugs in the United States is rising significantly, despite the high monthly costs and limited insurance coverage for these medications. A recent survey conducted by Evercore ISI focused on GLP-1s, a new class of medications used to treat Type 2 diabetes and obesity, revealed an interesting trend. According to the
Stellantis recently announced the layoff of approximately 400 salaried employees in the U.S. in its engineering, technology, and software units. The decision to reduce its workforce by 2% in those specific units comes as the automaker faces what it calls challenging market conditions. The company cited “unprecedented uncertainties and heightened competitive pressures” in the auto
The United States has seen a significant increase in the number of millionaires and billionaires, surpassing China as the world’s top spot for wealthy individuals. According to the 2024 USA Wealth Report from Henley & Partners and New World Wealth, there are now more than 5.5 million Americans with liquid investible assets exceeding $1 million.
In today’s rapidly evolving media landscape, traditional cable television is facing a decline as more and more consumers turn to streaming services for their entertainment needs. This shift has had a significant impact on networks like ESPN, which has relied on increasing cable subscription fees for revenue growth for over 40 years. However, with millions
In a recent documentary by CNBC, former Disney CEO Bob Chapek discussed the future of Disney-owned ESPN and his vision for the sports network. Chapek expressed his belief that adding minority partners to ESPN may not be strategically advantageous. This stands in contrast to the previous suggestions by Disney CEO Bob Iger to potentially sell
Sotheby’s, the renowned auction house, is expanding its sports offerings in response to the increasing demand for sports memorabilia and the desire to attract a younger audience. This move comes as part of Sotheby’s first-ever “Sports Week,” featuring six live and online auctions with items from some of the biggest names in sports. The auctions
JetBlue Airways recently announced significant route cuts as part of its strategy to reduce expenses. The airline will be reducing its number of departures from Los Angeles International Airport, focusing on profitable transcontinental routes that include the Mint business class cabin. This decision comes after a failed attempt to acquire Spirit Airlines and issues with
The ongoing proxy battle between Walt Disney and activist investor Nelson Peltz has gained a significant ally in the form of filmmaker and Hollywood legend George Lucas. Lucas, who became the largest individual investor in Disney after selling Lucasfilm to the company in 2012, has thrown his support behind Disney CEO Bob Iger. In a