The news that Neiman Marcus has hired a restructuring firm to help them prepare for bankruptcy has been expected for the past several years. While clearly the virus problems have pushed them to finally make the move, it was only a matter of time. Let’s face it, you could hardly find a more complacent company. As one industry expert put it recently: “If you go to a Neiman Marcus store today, it looks just like it did years ago. It’s got no energy at all. Today’s millennial customer does not relate to Neiman Marcus or the brands it carries. For years, nothing has changed”
Bob's Gutsy Leadership Blog
Bob regularly writes blog posts and articles with his areas of focus being leadership, organizational effectiveness. Below you will find the titles and hot-links of his most recent efforts:
During the past few weeks, we watched how the Governor of New York managed the coronavirus crisis, and how the Boeing CEO dealt with the various issues hitting the planemaker. There are some very clear learnings coming from the two in leading and managing during a crisis.
The term “fake news” has become part of the popular vocabulary. In the world of “fakeness” there is no doubt that Facebook stands out from the crowd. Specifically, users can post anything thing they want to whatever audience they can assemble Also, anyone can create independent ”fake” accounts, and use these to initiate all kinds of “fake” political, social, or individual mayhem. These two kinds of “fakeness” are now becoming very problematic for Facebook.
The passing of Jack Welch provides a good stimulus to consider what powerful, enduring lessons he taught us. No doubt some of his aggressive approaches are viewed skeptically by some today, but there is no doubt his fundamental thinking is as relevant as ever.
Today I had an interview with Maria Bartiromo on Fox Business News where we discussed the virus and the challenges China represents to the tech sector. You can view it by clicking here.
Organizations don’t survive without the ability to regularly implement change to adapt to new situations and capabilities and seize opportunities. A few years ago researchers at Harvard Business School pulled together their finding on why change initiatives tend to get bogged down and don’t succeed.
A leader’s job, on an ongoing basis, is to thoroughly understand what is going on in the business, have in place a high impact plan to significantly improve the business, and to continually execute with excellence. Any sign of weakness/opportunity should be tackled with gusto, and necessary initiatives launched to stay on track for continual success.
In 1997, Boeing acquired McDonnell Douglas, including its CEO Harry Stonecipher who became COO of Boeing. In 2003, Stonecipher became CEO of Boeing and, as reported in Fortune Magazine recently, quickly set an aggressive goal of reaching an after-tax profit margin of 7%, a mark Boeing had not hit since the 1970.
For about the past 50 years, Warren Buffett has been buying companies, such as GEICO, Duracell, and BNSF Railroad, and buying shares in major U.S companies, such as American Express ( owning 17.6% of shares), Coca Cola ( 9.4%), and Apple ( 5.2%). Warren’s company is called Berkshire Hathaway, and it is publicly traded on the NYSE. Over that 50 year period, the average annual growth in the book value of Berkshire Hathaway has been 19% versus 9.7% for the S&P 500. That is why in the financial world he is called the Oracle of Omaha.
2019 saw some very big names in the world of investing and finance end up with quite red faces as they got seduced to investing in weak business models with even weaker managements. Here are the two prime examples that have dominated the business news in 2019! Uber – Numerous financial giants invested in this […]