Exclusive outtakes from industry leaders
On March 1, Reuters Global Editor-at-large Chrystia Freeland sits down with McKinsey & Company Global Managing Director Dominic Barton. In anticipation of the event, here's some helpful background on Barton and McKinsey:
Barton grew up in a small town in Canada. Out of his high school class of 200 students, Barton was one of just six to go on to attend college. Barton graduated from the University of British Columbia and went on to study at Oxford University, where he was a Rhodes scholar and received an MPhil in Economics. He came back to Canada and joined McKinsey in their Toronto office in 1986. In 2000, he was given the chance to lead McKinsey's office in Korea and decided to take the offer despite being told by many mentors not to take it. He was so successful in his role, that in he then became the chairman of Asia, based in Shanghai, from 2004 to 2009.
In his 24 years with McKinsey, Barton has advised clients in a wide range of industries, ranging from financial sector reform to technology to public and private governance. Barton was named the as one of the National Associations of Corporate Directors list of 100 most influential people in corporate governance. He wrote "China Vignettes: An Inside Look at China" and is also co-author of "Dangerous Markets."
McKinsey, founded in 1926, is the world's leading management consulting firm. According to Forbes, McKinsey was the world's 43rd largest privately held company in 2010. They deal with companies in industries ranging from automotive and telecommunications to travel and entertainment. In addition to their consulting business, they also publish the business journal "McKinsey Quarterly" and run the McKinsey Global Institute, the company's economics research arm.
Dominic Barton of McKinsey & Co. stopped by the set of Chrystia's Davos TV show in late January to discuss the global economy along with Richard Haass of the Council on Foreign Relations and Bob Shiller of Yale University. Hear why Barton's worried about inflation in emerging markets, why the U.S. should be pitching China's sovereign wealth fund on infrastructure projects in America and where is the "Florida of China":
Generations of Americans have clocked in to work each morning confident that their daily toils would afford them a better standard of living than their parents. But that central promise of the American dream may now be under threat.
According to a productivity and competitiveness report from the consulting firm McKinsey & Co., the U.S. economy requires dramatic productivity gains to ensure that future workers will benefit from economic growth. How to achieve these gains will be the focus of a discussion between Reuters global editor-at-large Chrystia Freeland and McKinsey’s global managing director Dominic Barton for a Thomson Reuters Newsmaker event on March 1, "Thriving in the New Global Economy."
Reuters Global Editor-at-Large Chrystia Freeland will conduct a live interview with the Global Managing Director of consulting company McKinsey & Co.
Jim O’Neill, the new Goldman Sachs Asset Management chairman who is famous for coining the term BRICs for the world’s new emerging economic giants, reckons he knows why Germany might not be rushing to bail out all the euro zone debt that is under pressure. Europe is not as important to Berlin as it was.
Speaking at the Reuters 2011 Investment Outlook Summit being held in London and New York, O’Neill pointed out that in the not very distant future Germany will have more trade with China than it does with France.
One of Major League Baseball's top executives may not think Apple's iTunes app store is particularly user friendly, but he's not about to offer advice to the hottest technology executive on the planet.
Robert Bowman, the head of MLB Advanced Media, the league's Internet and digital business, loves apps. He wants his sport's games and other content to be on every wireless device out there and think apps will begin to shape how websites are designed.
"We actually think it's going to invade the website. We think people like apps," he said at the Reuters Global Media Summit. "They're easy to understand. They're compartmentalized. It's a quick way to get information."
That said, the Apple and Google app stores leave a lot to be desired, Bowman said.
"The app stores are not well laid out. The app stores are very hard to figure out. Even Apple ... they do a great job, but they're hard to understand. The Android app store is very hard to understand, so it's hard for people to find the content."
But, when asked what he would do to improve Apple's app store, Bowman demurred.
"I don't think I'm going to get very far giving Steve Jobs advice," he said of Apple's renowned CEO. "He's done pretty damn well not listening to me for the first 57 years of his life and so I'm just going to continue to let him not listen to me."
Bowman acknowledged that the Android app store leaves him "a little bit more frustrated."
However, the baseball executive is not alone is finding the app stores frustrating.
Despite charging $14.99 a pop, baseball has sold nearly 600,000 apps this year between the Apple and Android platforms, he said.
Bowman also dismissed questions about the future of set-top boxes or big TVs, saying both are not going anywhere.
"I don't think there's any history of media dying," he said. "I still listen to radio in my car.
"The big TVs aren't going to go anywhere. It's like the automobile," Bowman added. "We're a country that likes big TVs.
The video game sector is often seen as being particularly ripe for consolidation, with some expecting old line media giants such as Time Warner to swoop in and scoop up a publisher to diversify their entertainment rosters.
But Strauss Zelnick, chairman of "Grand Theft Auto" publisher Take-Two Interactive, remains surprised by the lack of action on the consolidation front. “I think the legacy media companies have not been especially aggressive about interactive entertainment,” he said at the Reuters Global Media Summit in New York on Wednesday. His company, of course, fought off Electronic Arts' hostile takeover bid in 2008.
Anyone who thinks the word “executive” in CEO stands for a person who actually executes decisions and strategy should think again, at least according to Technicolor CEO Frederic Rose.
“It’s very funny, you get a job as a CEO and everyone says you’ve got this absolute power,” Rose told the Reuters Global Media Summit in Paris.
Big splashy action movies from the U.S. usually play well abroad. It should come then as no surprise that World Wrestling Entertainment, known for hulky dudes and toned ladies who act out soap opera scenarios both in and out of the ring, manages to find fans well beyond these borders.
So, naturally, international expansion is something on the mind of Donna Goldsmith, the chief operating officer of WWE, who ticked off countries including Russia, India and Brazil where it’s seeking to introduce characters like Sheamus, Triple H and John Cena.
Media executives love to go on about their love of the Apple's iPad. But the tablet isn't suited for everything. Walt Disney's Anne Sweeney relayed her recent experience catching up on an ABC TV show using the popular tablet.
Sweeney missed the season finale Grey's Anatomy and, while traveling, decided to watch the show in her hotel room. The episode was particularly gory -- several characters were picked off by a aggrieved man who held the hospital at gunpoint.