Online shoe retailer Zappos made a name for itself with topnotch customer service. It paid off: Amazon bought it for $1.2 billion last fall. In his new book, Delivering Happiness, CEO Tony Hsieh talks about Zappos's unique business approach and giving customers that "wow" feeling.
High-frequency traders, who have maintained a low profile, say that because their frenzied trading provides liquidity, they help markets run smoother, improving the environment for all investors. But combine the speed at which they operate, the outsourcing of decision making to computer codes, and an almost complete lack of regulation, and this shadow market can fuel and exaggerate volatility.
On Tuesday, Interior Secretary Ken Salazar cut the Minerals Management Service in half, separating its duties of regulating the offshore oil and gas industry and of collecting billions in revenue from it.
The year 2030 sounds far off. In a way, the number itself conjures images of silver unitards and hovercrafts, just as 2010 probably did to people back in 1990. A lot's changed since then, but more has stayed exactly the same, which is part of the problem.
So this is what high-frequency trading looks like. Just before 3 p.m. today, the Dow Jones industrial average went from being down about 180 points, mostly off continuing fears over the Greek debt crisis, to falling off a 900-point cliff, to then rallying back another several hundred points.
It's been a busy week for the SEC. On Wednesday, the regulatory agency took a small, but important first step toward shining light on the very dark, very unregulated world of high frequency trading.
Investment banks may have wrecked the world economy in 2008, but they sure made money picking up the pieces. In 2009, the global investment-banking industry took in $311 billion in net revenue, a 50 percent jump from 2008 and only $17 billion off its 2007 peak.
Two summers ago, I interviewed Tiger Woods in the lobby of a hotel in midtown Manhattan. It was purely a publicity thing: a 10-minute sit-down to promote his new videogame.
President Obama's decision to open up vast tracts of ocean off the Atlantic coast and eastern Gulf of Mexico for oil and gas drilling is making big waves.
Businesses make terrible mistakes. It's how they react that can determine whether they thrive—or even survive. Toyota was slow to acknowledge its problems, but ultimately recalled 8 million vehicles and apologized.
Toyota enters this week's congressional hearings reeling from news of a criminal investigation and claims that it withheld evidence.
It's been a strange week for Tiger Woods. Just as rumors and photos of him attending rehab for sex addiction at a Mississippi clinic surfaced, one of his few remaining corporate sponsors, video game publisher Electronic Arts, demonstrated it wasn't just sticking by Tiger, it was doubling its bet on him.
Cap-and-trade opponents have tried to portray the legislation working its way through Congress as bad for business. The U.S. Chamber of Commerce says it would set off a "catastrophic cascade" of lawsuits and "choke off growth"—and some economists say that the House bill, if enacted, would shave 1 percent off GDP growth in the near term.
Despite a five-year losing streak, the defection of its most important Beltway fans, and a key management shake-up, the Skins generate more revenue than the Yankees. How is that possible?