CEO Daily Brief – Nov. 1, 2010
November 1 2010 by ChiefExecutive.net
Message from Voters: Change the Economy
For those CEOs who are waiting to see what will happen to economic policy and all of the recent regulations and mandates, there may be good news. Republicans are positioned for large gains Tuesday, likely retaking the House and picking up seats in the Senate, according to a new Wall Street Journal/NBC News poll. "The Democrats are about to feel the full force of a tidal wave, tsunami or a 7.0 earthquake," said Democratic pollster Peter Hart, who co-directs the survey with Republican pollster Bill McInturff.
A clear majority of Americans are "very dissatisfied" with the U.S. economy. Of that group, 63 percent said they would vote Republican for Congress on Tuesday, compared to 30 percent who planned to back a Democrat. For more about this Wall Street Journal poll, please click here.
Bosses Overestimate Their Managing Skills
A new survey of 1,100 front-line managers suggests many are over-estimating their skills, with surprisingly little self-doubt. Seventy-two percent said they never questioned their ability to lead others in their first year as a manager. Managers were also unlikely to rate themselves as weak in a number of leadership attributes, such as planning, communication and adaptability, according to the study by consulting firm Development Dimensions International Inc.
Front-line managers believe that their biggest strengths are in setting work standards and planning and organizing, according to the survey.
The skills they said they most needed to work on were delegating, coaching and gaining commitment—but no more than 15 percent of managers pointed to any one of those as a "development area."
The company separately compared some managers’ self-assessments to performance in a business simulation that attempted to mimic real-world challenges the leaders might face. They found that managers consistently over-rated their delegating and coaching abilities.
For more about the survey as reported in the The Wall Street Journal, please click here.
CEO Pay Now Singled Out in Britain
There’s another complaint coming out about CEO pay, this time from Great Britain.A new survey shows bosses of Britain’s biggest companies saw their pay packets rise by 55 percent in the year to June, and the average FTSE 100 CEO now earns Â£4.9 million a year – almost 200 times the average wage.
While basic pay for directors rose just 3.6 percent in the year to June, bonus payments increased by 34 percent, long-term incentive plans rose by 73 percent, and share options jumped up by 90 percent.
The figures, contained in the Directors Pay Report published by research body Incomes Data Services (IDS), could upset shareholders, the IDS says. Including bonuses, average workers took home just 1.5 percent more in the last year, with an average pay of Â£23,660.
For more about the CEO pay in Britain as reported by Real Business, please click here.
YouTube’s Hurley to Step Down as CEO, Takes on Advisory Role
YouTube Inc. Chief Executive Officer Chad Hurley said he’s moving to the role of advisor at the world’s largest video-streaming site and plans to start another company at some point.
Speaking a technology conference in Dublin, Hurley said he "would have loved to stay independent" before Google bought the company in 2006 for $1.65 billion, though the search-engine giant has allowed YouTube to operate with a large degree of autonomy.
"I am transitioning now into the role of advisor," Hurley said. "It is something that I have been working on for the last two years."
For more about Hurley stepping down, as reported by Bloomberg News, please click here.