Math is wonderful—because it works. Consider a classic valuation question: Is the whole worth the sum of its parts? Put another way, should the total value of a conglomerate be less than the value of its operating companies, if each business were measured on a stand-alone basis? The answer is no, of course not. Two plus two does not equal five, and when it comes to conglomerates, it should not…
One of the things Michelle Kinch loves about teaching operations to MBA students is the chance to dispel some of the myths around it. Many students begin with the belief that operations management is about mathematical models, data analytics and spreadsheets—and dominated by manufacturing contexts. To Kinch, an assistant professor of business administration at Tuck, the name “operations” obscures its true nature: a value creation system with humans at its…
Topics Responsible AI The Responsible AI initiative looks at how organizations define and approach responsible AI practices, policies, and standards. Drawing on global executive surveys and smaller, curated expert panels, the program gathers perspectives from diverse sectors and geographies with the aim of delivering actionable insights on this nascent yet important focus area for leaders across industry. In collaboration with More in this series subscribe-icon Subscribe Share For the third…
HOUSTON - (October 30, 2024) - Seyfarth Shaw LLP has strengthened its nationally recognized Corporate department with the addition of a three-lawyer team to its Houston office. Partner Chris Cottrell, along with associates Michael Szymanski and Xiaoming Gao, have joined Seyfarth to launch the Energy Transactions practice. The team is well-regarded for its extensive experience in the oil and gas industry and its ability to craft innovative, practical legal solutions…
With seamless integration among VS Code, GitHub, and Azure, we provide an AI-powered, end-to-end development platform to transform your apps with AI. AI has reset our expectations of what technology can achieve. From transforming how we explore the cosmos to enabling doctors to provide personalized care and making business functions operate more intelligently, it all comes down to you—the developer—to turn this potential into reality. As developers, you’re experiencing a…
A golden outline of a speech bubble is filled with a jumble of colorful, balloon-like spheres. The spheres vary in size, color, and texture, and the image is set against a light-gray background. In recent years, large language models (LLMs) have made tremendous progress in their ability to generate content. But some leaders who hoped these models would increase business efficiency and productivity have been disappointed. Off-the-shelf generative AI (gen…
Hurricanes Helene and Milton wrought destruction as they lashed across the southeastern United States in late September and early October. Lives were lost. Properties were ruined. Amid this devastation, it’s worth noting the considerable toll that storms like these can take on the small businesses that happen to lay in their paths. Small businesses can help knit together the fabric of a community, and many people depend directly on such…
Topics Culture Champions Building a healthy culture is one of the most important — and hardest — leadership jobs. These articles, based on a webinar series and research by Donald Sull and CultureX, share actionable advice from leaders whose cultures produced exceptional business results and a world-class employee experience. More in this series subscribe-icon Subscribe Share Aleksandar Savic The truth about core values isn’t pretty at many organizations. In a…
Insights from Q5’s Sydney forum on harnessing past lessons to fuel future success At a recent Q5 event in Sydney, Lyndal Hughes, MD of Q5 Australia, led a thought-provoking discussion on transformation beyond traditional change initiatives. Panellists Chris Parsons, Nicky Bowie, and Ed Bridgeland shared diverse perspectives, emphasising the importance of emotional readiness, team unity, and a strategic, holistic approach to true organisational transformation. Reading time: 4 minutes Transformation is…
This week, we're joined by Nicole Clark, founder and CEO of Trellis, a state trial court research and analytics platform. For several years, Nicole was an attorney in private practice, handling business litigation and labor and employment matters. The idea for Trellis came from her experience doing research for complicated summary judgement motions. Nicole worked with software developers on an early version of the tool, collecting state trial court data…
Quick Hits A group of H-4 and L-2 visa holders filed a lawsuit against the secretary of homeland security in April 2021, alleging that USCIS unlawfully delayed adjudicating their I-539 and I-765 applications, resulting in loss of employment. A settlement was reached in January 2023 in which USCIS agreed to return to its pre-March 2019 practice of simultaneously adjudicating bundled I-539 and I-765 applications after approving the principal’s I-129 petition,…
Microsoft Cloud Strength Drives First Quarter ResultsREDMOND, Wash. — October 30, 2024 — Microsoft Corp. today announced the following results for the quarter ended September 30, 2024, as compared to the corresponding period of last fiscal year:· Revenue was $65.6 billion and increased 16%· Operating income was $30.6 billion and increased 14%· Net income was $24.7 billion and increased 11% (up 10% in constant currency)· Diluted earnings per share was $3.30 and increased 10%“AI-driven transformation is changing…
Almost four months after Labour won the general election, chancellor Rachel Reeves has delivered her 2024 Autumn Budget, outlining the government’s plans for this tax year and beyond. Arguing that the July general election had given Labour a “mandate to restore stability and start a decade of renewal”, Reeves described it as “a Budget to fix the foundations and deliver change”. Against a backdrop of a manifesto pledge not to…
One night, over dinner, Daniel Kahneman changed my perspective on value creation. Why do so many people, including leaders of large corporations, draw back from acting more boldly, even when taking incremental risks can create much greater returns? And perhaps more important: Can anything be done about it? Kahneman explained to me that while it’s hard to change human nature, it’s much easier for organizations to take practical steps to…
In the budget on 30 October 2024, the government will announce further details on the abolition of the non-domiciled regime. The current non-domiciled regime requires certain taxpayers to segregate their offshore capital to ringfence clean capital from other non-UK taxed capital. “Clean capital” is any capital that can be used in the UK without being subject to an additional UK tax charge and broadly includes any capital that arose prior…
Better choices enable better decisions. Profitably thriving through market disruptions demands that executives recognize that better decisions aren’t enough — they need better choices. Choices are the raw material of decision-making; without diverse, detailed, and high-quality options, even the best decision-making processes underperform. Traditional dashboards and scorecards defined by legacy accounting and compliance imperatives reliably measure progress but can’t generate the insights or foresight needed to create superior choices. They…
Bridging the gap between sustainability goals and measurable impact Welcome to our first-of-its-kind research on sustainability transformation. We’ve gathered insights from 160 organisations and conducted interviews with over 50 business leaders across 27 countries to bring you an in-depth look at how businesses are navigating this critical journey. Produced by The Transformation Alliance, a coalition driving transformation with European roots and global reach, this report brings together expertise from consultancies…
The Washington State Department of Labor and Industries has announced the state minimum wage for 2025. In Washington, the state minimum wage is calculated annually (and generally increases) based on inflation. Effective January 1, 2025, Washington’s state minimum wage will increase to $16.66 per hour, which is a 2.35% increase over 2024. Notably, Washington cities can set minimum wages that exceed the state minimum, and many cities do: City 2025…
With the new enhancements to Azure OpenAI Service Provisioned offering, we are taking a big step forward in making AI accessible and enterprise-ready. In today’s fast-evolving digital landscape, enterprises need more than just powerful AI models—they need AI solutions that are adaptable, reliable, and scalable. With upcoming availability of Data Zones and new enhancements to Provisioned offering in Azure OpenAI Service, we are taking a big step forward in making…
High-ranking American officials are reporting the appearance of North Korean military personnel in Russia, and also admit the possibility of their participation in the Ukrainian conflict on the Russian side. The Russian Foreign Ministry characterises such statements as information leaks and hype.Meanwhile, the United States and its allies have serious cause for concern. The breakdown of relations with Moscow amid the crisis in European security has also led to a change…
The race is on to build sufficient data center capacity to support a massive acceleration in the use of AI. Data center demand has already soared in response to the role data plays in modern lives. But with the emergence of generative AI (gen AI), demand is set to rise even higher. And that is likely to presage a supply deficit. As challenging as this could be, companies and investors…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series Carolyn Geason-Beissel/MIT SMR | Getty Images This is a time when we are all asking how best to prepare for a long working life. With expanded life expectancies and fast-paced technological development, this is a necessity. In my own research, I’ve long focused on the notion of the multistage…
Bizarre Dispute Between AI-Biotech Startup and Former Executive Ends in Trade Secret TRO, For Now | Seyfarth Shaw | Trading Secrets Skip to content
Brian Kenny On September 17, 1987, advocates for people with disabilities marked a major milestone, the closure of the Willowbrook State School in Staten Island. Since opening in 1945, Willowbrook had become the largest state-run institution for people with disabilities in the United States. It had also come to epitomize the absolute disdain that many people had for some of the most vulnerable among us. Severe overcrowding, rampant physical and…
Live long and prosper vbois August 14, 2024
The tax treatment of carried interests (sometimes referred to as “promotes”) changed under the Tax Cut and Jobs Act of 2017. The thrust of the change was to establish a new three-year holding period (instead of the standard one-year holding period) before a fund general partner or investment partnership sponsor could access the favorable 20% long-term capital gains tax rate in respect of its carried interest (the tax treatment of…
What makes this transition even more complicated is that it coincides with both a growth crisis and a crisis of confidence: a kind of price that must be paid to clean up after past excesses, with an overinvestment bubble – notably in real estate – in the process of deflating. With volumes (of transactions and new construction starts) having adjusted sharply, prices are now falling. Faced with this deflationary spiral…
Responding to the rise in sales and popularity of Chinese electric vehicles (EVs), the United States and European Union have imposed hefty import taxes to curb the market penetration of Chinese EVs and protect local automotive manufacturers. Scholars have cautioned that such industrial policies should be temporary, as they can have unintended lasting effects. For example, the high tariffs imposed by the US and EU could slow down the consumer shift to EVs,…
Topics Artificial Intelligence and Business Strategy The Artificial Intelligence and Business Strategy initiative explores the growing use of artificial intelligence in the business landscape. The exploration looks specifically at how AI is affecting the development and execution of strategy in organizations. In collaboration with More in this series Get updates by email Please enter a valid email address Thank you for signing up Privacy Policy Jeremy Kahn’s investigation into the…
Quick Hits New FOIA request noticed: A new FOIA request has been filed with OFCCP, seeking the release of federal contractors’ 2021 Type 2 Consolidated EEO-1 Reports in OFCCP’s possession. Deadline for objections: Contractors have forty days from the date of publication of OFCCP’s notice to object to the disclosure of their 2021 EEO-1 data. Separate from previous request: This is a new request for 2021 Consolidated EEO-1s; the most…
Sustainability is no longer just a buzzword – it has become critical for life on our planet. It will also be a key actor in shaping corporate strategy and success. The shift towards sustainability has been increasingly embraced, and the common way companies do this is through the ESG (environmental, social and governance) framework. But even though corporate impact on the environment and society is huge, the ESG methodology is increasingly being questioned – particularly in the United States – for its effectiveness…
Since the start of the military phase of the Ukraine crisis in 2014, Kiev has received active support from the United States and its allies. The West's strategy in the structural confrontation with Russia is aimed at defeating our country without getting involved directly in the conflict. This hybrid confrontation scenario is not new for the United States. Washington uses hybrid instruments in the Middle East, against Iran, and against…
The research team, led by the University of Cambridge, adapted an algorithm originally designed for humans and found it could automatically detect and grade heart murmurs in dogs, based on audio recordings from digital stethoscopes. In tests, the algorithm detected heart murmurs with a sensitivity of 90%, a similar accuracy to expert cardiologists.Heart murmurs are a key indicator of mitral valve disease, the most common heart condition in adult dogs.…
According to economic historian Dr. Chris Miller, “You can’t understand the modern world without putting chips at the center of the story.” That conviction led Miller, an associate professor at the Fletcher School at Tufts University and nonresident senior fellow at the American Enterprise Institute, to research and write the 2022 nonfiction best seller Chip War: The Fight for the World’s Most Critical Technology. In an interview with McKinsey alumnus…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series Carolyn Geason-Beissel/MIT SMR | Getty Images Recently, several high-profile U.S. organizations have backtracked on diversity, equity, and inclusion (DEI) commitments. Rural chain store Tractor Supply said it would eliminate DEI roles and goals, and farm equipment company John Deere said it would no longer sponsor social or cultural awareness…
Quick Hits A Massachusetts appellate court found that a retention bonus did not constitute “wages” within the definition of that term set forth in the Massachusetts Wage Act. The court acknowledged that there are no Massachusetts cases that have held that a retention bonus is a “wage” within the meaning of the Massachusetts Wage Act. The court noted that the Massachusetts Supreme Judicial Court has not construed the Wage Act…
John Judis and Ruy Teixeira heralded a new age of US politics in their 2002 book, The Emerging Democratic Majority. The book predicted that the growing Latino population, coupled with a clear Democratic lead in many other growing segments of society, would strengthen the party’s hold on the US electorate for decades to come.Judis and Teixeira actually made two predictions: that Latinos and other Democratic-leaning groups would become a larger…
Private credit has become a more popular financing option across many industries and types of businesses—and the opportunity for investors to deploy this approach is growing. In this episode of Deal Volume, McKinsey’s podcast on private markets, McKinsey partner and host Brian Vickery speaks to Vivek Mathew, president and head of asset management at Antares Capital, one of the world’s largest private credit managers. They discuss how the private credit…
The treatment – known as repetitive transcranial magnetic stimulation (TMS) – involves placing an electromagnetic coil against the scalp to relay a high-frequency magnetic field to the brain.Around one in 20 adults is estimated to suffer from depression. Although treatments exist, such as anti-depressant medication and cognitive behavioural therapy (‘talking therapy’), they are ineffective for just under one in three patients. One of the key characteristics of depression is under-activity…
Employee dismissal backfires: worker wins unfair dismissal claim against employer after being fired for insulting a customer. A recent Employment Tribunal case has drawn attention to the importance of correct disciplinary procedures, after a worker who was summarily dismissed for calling a customer a t*** wins nearly £5,500 for unfair dismissal (Ms M. Jones v Vale Curtains and Blinds). Background The Claimant, Ms Jones, worked as a part-time administrator at…