Felix Salmon

Actual candor from Jack Welch

Jack Welch likes to cultivate an image as a straight-talking kinda guy who would never say something to an enclave of CEOs that he wouldn’t be happy putting his name to in one of his books or columns.

Conspiracy Jack

Why has Jack Welch doubled down on the false, inflammatory, and slanderous tweet that he sent out five minutes after the jobs report came out on Friday?

Counterparties: Inflate your turkeys

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Counterparties: Angela’s murky trip to Athens

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Counterparties: Hyperinflation is so hot right now (in Iran)

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Why Mark Zuckerberg shouldn’t listen to management gurus

This is why Mark Zuckerberg was smart to stay in complete control of Facebook and not listen to anybody telling him that a multi-billion-dollar company needed a seasoned, professional CEO in charge.

Corporate governance chart of the day, Benford’s Law edition

benf_year.jpg

This chart was put together by Jialan Wang, and it shows the degree to which companies’ reported assets and revenues deviate from a Benford’s Law prediction over time. (If you want some good background on Benford’s Law and how it can uncover dodgy numbers from eg the Greek government, Tim Harford had a great column last month on the subject.)

Zero. Nothing. Nilch.

The symbolism of today’s payrolls report — ZERO — would be bad enough even if it wasn’t coming out in advance of the Labor Day weekend. There’s a pattern here: no matter how bad Wall Street thinks the employment report is going to be, it always seems to be worse, these days. It’s like GE’s earnings circa Jack Welch, but in reverse.

Charlie Munger’s BYD conflicts

In April 2009, Marc Gunther wrote a glowing cover story for Fortune profiling hot Chinese automaker BYD, the recipient of hundreds of millions of dollars of Berkshire Hathaway’s money. The headline was “Warren Buffett takes charge” (charge, electric cars, geddit?), and two things were abundantly clear. The first is that Berkshire’s stake had catapulted BYD into the international spotlight and given the company invaluable credibility. And the second is that Charlie Munger was BYD’s biggest cheerleader, both before and after the stake was bought.