3:43 pm, August 18th | by Amy Tennery
Undoubtedly you, like the rest of the nation, has been captivated by the recent Abercrombie-Sitch debacle — we’ve enjoyed pondering the financial ramifications of this move, probing whether it was a diversionary tactic by Abercrombie CEO Mike Jeffries, and generally just watching as this meme unfolds. And now this news may have just officially reached meme-status: an NMA film has been produced.
What’s NMA? It’s the Taiwanese animation studio responsible for those charmingly low-tech short internet movies that chronicle the latest in viral news, including Kelly Osbourne celebrity bashing and the George Lopez show cancellation… among other things.
10:33 am, August 18th | by Amy Tennery
You could call it a philanthropic throwdown? The CEO of one of the world’s most recognizable charitable organizations is filing a $5 million lawsuit… against his own charity.
Domingo Barrios, the CEO of the Heifer International Foundation (you know, the one that lets you donate cows and ducks and goats and things to communities in need) says that he was improperly pressured to leave the group, after raising issues over the board of governance at the 20-year-old organization. And this one looks like it’s about to get a little ugly.
9:03 am, August 15th | by Amy Tennery
Another day, another mogul infidelity tell-all in the press. And this one is on a global scale!
So an investment bank CEO and his estranged wife are getting divorced. But what sets this breakup apart from other Wall Street marital busts? Well, apparently the wife in this situation has reason to believe that her husband was carrying on a series of ongoing affairs… in the U.S., Canada and the Dominican Republic. Charming.
1:14 pm, July 28th | by Hillary Reinsberg
Well, this is ironic enough. The Forbes family, whose magazine writes about money and wealth and everything else attached, could now be the subject of one of its own stories.
Fortune, the longtime competitor to Forbes, got access to internal reports, indicating that Forbes Media was in some pretty dire financial straits – with the Forbes family partially to blame.
6:09 pm, July 25th | by Hillary Reinsberg
And today in bad juxtapositions: the founder of Starbucks regains billionaire status, just as Chilean employees of the coffee chain walk out because they’re paid wages so low they can’t afford to eat lunch. Well then. That doesn’t look very good now, does it?
According to The Wall Street Journal, unionized Starbucks workers in Chile went on strike on July 7, saying their wages of $2.50 are so low they can’t afford to pay for lunch. Even worse, those wages haven’t gone up in 8 years. Meanwhile, Forbes reported on Friday that thanks to rising stock prices, Starbucks founder and CEO Howard Schultz became a billionaire again for the first time since 2007.
10:10 am, July 15th | by Amy Tennery
Remember when sales of Tropicana orange juice dropped 20 percent after its package rebranding? Or, well, everything about New Coke? Yep, if there’s one thing a beverage mogul knows, it’s that customers are oddly loyal to their drink brands. And they want nothing to change.
And, as Mogulite has learned, the folks behind Northwestern brewery Pyramid Hefeweizen have just figured that out the hard way.
9:11 am, July 14th | by Amy Tennery
If normal people occasionally have their cars impounded (for parking violations or late bills or something), it stands to reason that the same thing could happen to moguls, right?
But the real sign of wealth and power (and some kind of financial issue) isn’t watching your Aston Martin get repossessed. No, a true titan would have his private plane impounded. And that’s exactly what’s just happened to the Thai crown prince.
11:36 am, July 8th | by Sylvie Krekow
Sure, there are lots of purportedly pollutant companies out there — you could spend all day making a list of some of the worst offenders. But over here at Mogulite we got to wondering: which of these guys gets away with being an anti-greenie? Turns out there are lots of company CEOs, presidents and chairpersons who have managed to sail through a sea of environmental outrage (relatively) unscathed. You know the type — those folks who routinely flout green practices but still manage to rake in tons of cash.
To this end, we compiled a (highly subjective) list of the top 10 anti-green moguls you should know about. Think we left someone off in error? Pipe up and let us know!
9:00 am, July 7th | by Amy Tennery
Here’s some bad news to wake up to: investment brokerage Morgan Stanley Smith Barney has lost 34,000 different clients’ personal information, according to Reuters. Was this the result of some crack technical team, hacking the mainframe and compromising the company’s database? Apparently, no. Someone just lost the CDs that had the information. Really.
The brokerage, a partnership between Morgan Stanley and Citigroup, just announced the security breach (if you can even call it that) late last night, although the incident took place last month. The client information — which was, strangely, stored on just two CDs — was reportedly lost mid-transit. Kind of like an airline with vacation luggage, except much, much worse.
1:01 pm, June 12th | by Amy Tennery
Leave it to Bill Gates to bungle Mark Zuckerberg’s engagement announcement. In the middle of a rather standard profile with the Daily Mail (for the record, the Daily Mail calls it “rare” and “remarkable,” so take my opinion for what it’s worth), Gates drops the f-bomb when talking about Zuckerberg and his girlfriend, Priscilla. And by “f-bomb,” I mean, of course, “fiancé.”