CEO Daily Brief – Feb 4, 2011
February 4 2011 by ChiefExecutive.net
CEOs Are Good for America
In a recent commentary on Salon, Andrew Leonard contends “what's good for CEOs isn't good for America.”
The main focus of the article is not just an attack on free enterprise. It is also a way to attack Mitt Romney, who has been a governor, CEO, venture capitalist and even ran a winter Olympics in 2002.
Much to the horror of Leonard, Romney, the day after President Barack Obama's State of the Union address, said on Fox News that the first two years of the Obama administration were "the most anti-investment, anti-business, anti-jobs regimen we've seen probably [in] the last couple of decades."
There are good things and bad things someone can say about Romney. But one thing is very clear: he has management experience. He also understands business – perhaps more so than many members of Obama’s economic team. On the other hand, Obama was a community organizer, law professor and politician before becoming president. He had no management experience before entering the White House. And if someone believes Romney, it looks like the current president still has lots to learn about leading anything, let alone the government.
For more of Leonard’s critique of Romney, as reported by Salon.com, please click here.
Some 75,000 Applicants Look for a Job at Google in Single Week
Google is the world’s biggest search engine service. It also appears to be one of the world’s most popular places to work. Google got more than 75,000 job applications worldwide last week.
That sets a record for Google, as it starts what Bloomberg News is calling a “hiring spree.”
The number of applications replaced a previous record at Google, set in May 2007, by 15 percent, Bloomberg reported.
Google had 24,400 workers In December 2010. Last week, the company said it would hire more than 6,000 additional employees in 2011.
Google is trying to compete in mobile services, display ads and Internet applications. But Google has competition in these and other sectors from its rivals, such as Facebook and Apple.
“We’re looking for top talent,” Alan Eustace, Google’s senior vice president of engineering and research,” said last week in a company blog posting that was quoted by Bloomberg. “We’ll hire as many smart, creative people as we can to tackle some of the toughest challenges in computer science: like building a Web-based operating system from scratch, instantly searching an index of more than 100 million gigabytes and even developing cars that drive themselves.”
Google was considered as America's best workplace, according to Fortune magazine, in 2007 and 2008. But it has dropped to fourth place. It’s clear from the response that whether first or fourth, many individuals want to work for Google.
Google, Apple, Facebook and other Silicon Valley companies are likely to be hiring away top talent from each other this year. The companies value the innovative skills that their employees bring to their jobs.
For more about getting a job at Google, or other social media companies, as reported by Bloomberg, please click here.
SEC Charges Six with Insider Trading
The Securities and Exchange Commission has filed insider-trading charges against six individuals who worked for an expert-networking firm.
The six allegedly passed confidential corporate information to investors, Forbes reports citing allegations from the SEC.
Forbes explains that expert-networking firms “connect analysts and experts with investors seeking information, for a fee.”
It’s obvious there is a fine line between legal and questionable activity involving these kind of firms.
The SEC announced civil charges against the six, and accused them of relaying confidential information to hedge funds and other investors.
That information led to approximately $6 million in “illegal profits,” Forbes said.
The six had been named as defendants in criminal cases brought by federal prosecutors.
The investigation also led to “the biggest hedge fund insider-trading case in history,” Forbes reports.
The SEC described four of the six as “employees of technology companies who moonlighted as consultants and exploited their access to confidential information,” Forbes reports. The companies they had knowledge about included: Advanced Micro Devices, Apple, Dell Inc. and other firms.
The six were also identified by the SEC as “consultants or employees of Primary Global Research.” The firm “connects experts and consultants with investors seeking information in the technology, health care and other industries,” Bloomberg says.
Prosecutors have described the firm “as an incubator for insider trading,” Bloomberg said.
For more about insider trading charges, as reported by Bloomberg, please click here.