NEWSWEEK: HOW HARVARD FAILED ECONOMICS
In the aftermath of the 2008 financial crisis, much of the country was enraged because not a single Wall Street hotshot—the guys who got us into the mess—was prosecuted. While there are many financiers who could have been made to take the perp walk, there’s also a case to be made that the fault lies with those who laid the intellectual foundation upon which a market-driven financial crisis could happen in the first place.
If all the books on leadership were gathered in one place, the collection would probably look a little like Borges’s Library of Babel. It stands to reason, though, that if leadership is important, so too is followership. You can’t have one without the other. While you’d be hard-pressed to find a graduate school that promises to churn out “tomorrow’s followers,” the movement is real and growing, spawning serious academic inquiry as well as accessible books on the subject, the latest of which is Ira Chaleff’s “Intelligent Disobedience: Doing Right When What You’re Told to Do Is Wrong.” He sat down recently to discuss why a good follower is hard to find.…
With some 13,000 graduate schools of business across the globe, the M.B.A. degree has clearly become a commodity.
Even among elite schools, courses and case studies are pretty much water from the same well (i.e., finance, operations, marketing, accounting). So how do you choose? By using the rankings? Which ones? The Economist’s? Businessweek’s? The Financial Times’s? And if you do, how do you tell the difference between a school ranked No. 6 and a school ranked No. 7?
Don’t ask us. Don’t ask the schools, either. Their slick brochures try to be everything to everybody, and in the process they obscure rather than illuminate.
Conventional wisdom will tell you that Harvard is for Fortune 500 jobs, Wharton for Wall Street, Kellogg for marketing and Instead for multinational entities. There’s truth to some of it, but times change, and so do employers’ recruiting preferences. The smartest move might be to choose your business school by focusing on a very specific outcome and, assuming a good fit personally, going to the one with an impressive record of helping students achieve the same.
When you’re trying to save the world, you’ve got to think big. So it’s hard to condemn West Haven, Conn.-based biopharmaceutical concern NanoViricides for its outsized ambition. But as to their claim to be the latest in a line of century-winning revolutionary advances in the treatment of infectious diseases? To be the last on a short list that includes smallpox vaccine (18th century), antisepsis (19th), penicillin (20th), and now… NanoViricides in the 21st? Hold up, now.
Let me get one thing straight: I was predisposed to cheer for Oramed Pharmaceuticals, a tiny Jerusalem-based drug developer that has been working on an orally ingested insulin pill for more than a decade. That’s one of the holy grails of disease management, with a potential market of nearly $20 billion per year.
The New York Times Sunday Book Review: one click wonder Brad Stone's Everything Store
About a quarter of the way into “The Everything Store,” Brad Stone’s engrossing chronicle of the rise of Jeff Bezos and Amazon, he reveals that in the late 1990s, Bezos seriously contemplated trying to collect two copies of every book ever printed and store them in a warehouse in Lexington, Ky. Called the Alexandria Project, a k a Noah’s Ark, the initiative never got out of dry dock. And Lexington had no idea about its near miss with biblical importance.
bloomberg BUSINESSWEEK: Red Bull's Billionaire Maniac
Little known outside of his native Austria, Dietrich Mateschitz is one of the most successful entrepreneurs of our age, a man who single-handedly changed the landscape of the beverage industry by creating not just a new brand but a whole new category: the energy drink. As the visionary who brought the world Red Bull, Mateschitz, 67, has been a patron saint for more than two decades to late-night partiers, exam-week undergrads, long-haul truckers, and, above all, extreme-sports athletes everywhere.
New York MAGazine: Unwarrented Does Buffett deserve his outsider rep?
As financial reform stumbles across the finish line in Washington, D.C., we can only hope that it will have some real, lasting effect—that it will somehow make those greedy investment bankers act a little more responsibly when they’re gambling with the global economy. As responsible and principled, say, as Warren Buffett, with his folksy, timeworn approach to putting money to work.
New York MAGazine: The Heist
The Monday after a long working weekend, Jamie Dimon looked a little tired. His collar was unbuttoned, his tie loosened, and he was slouching slightly in his office chair. The week before, he had turned 52 years old—a bunch of balloons was still tethered in the corner of his office—and his hair was whiter than most recent photos show. But he was far from worn out. Dimon, the chairman and CEO of JPMorgan Chase, had just won the biggest game of his life.
VANITY FAIR: THE ARTIST FORMERLY KNOWN AS PAUL FRANK
Since its inception in 1995, Paul Frank Industries has sold $100 million worth of its cute but edgy clothes and accessories. Late last year, however, it lost the allegiance of Paul Frank himself, the design savant whose quirky creations, starting with Julius the monkey, gave birth to the brand itself. As Frank and his erstwhile partners trade allegations of disrespect, disengagement, and wedding-day slights in a battle for millions of dollars, the question arises: Which Paul Frank—the man or the company—is to blame?
Vanity Fair: THE MAN WHO WANTED MORE
Just six months ago, his panache and erudition evident in his new biography of F.D.R., right-wing press baron Conrad Black was momentarily the toast of New York, London, and Toronto, his dazzling columnist wife, Barbara Amiel, at his side. Today, accused of taking millions from his Hollinger International conglomerate, he has lost control of an empire that includes London's Telegraph, the Chicago Sun-Times, and The Jerusalem Post, dragging big-name board members such as Henry Kissinger, Richard Perle, and Alfred Taubman into a legal mire.