At a time when the four-day workweek is gaining global traction among employers and lawmakers, Samsung Electronics is adopting a six-day workweek for its executives.
The Korea Economic Daily reports that the strategy is a reaction to the company's declining performance expectations. Reports indicate that performance fell short in 2023 among central units, including the manufacturing and sales divisions. Samsung Life Insurance Co. "and other financial services firms under the Samsung Group will likely join them soon," it added. Some Samsung executives have been voluntarily working six days a week since January. The aim is "for executives to inject a sense of crisis and make all-out efforts to overcome it," the paper reported, quoting an unnamed Samsung Group company executive. Employees below the executive level will continue working five days a week. Last year, South Korea's government proposed a 69-hour workweek "after business groups complained that the current cap of 52 hours was making it difficult to meet deadlines," according to The Guardian. However, protests from members of Generation Z and Millennials there caused the government to reconsider the proposal. Samsung's approach is the opposite of Microsoft Japan, headquartered in Minato, Tokyo. It adopted a four-day workweek after seeing a 39.9 percent productivity boost among employees during a pilot of the shorter workweek 2019. Samsung's move toward a longer workweek doesn't mean other employers will follow suit. "It appears Samsung executives are being cautious in the face of uncertain macroeconomic and geopolitical tensions," said Sydney Ross, an economic researcher at SHRM. "Since it is only for executives, the six-day week seems to be an opportunity for executives to regularly assess global market conditions to mitigate potential losses." Ross highlighted the increasing demand for more sophisticated generative AI and advanced process technologies. As Samsung is increasing investments in overseas operations, a weaker won has raised borrowing costs and dented company profits. "It's possible," Ross said, "the public announcement is an effort to put pressure on the South Korean government to institute policies to protect the domestic semiconductor industry."
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This post is about the treatment of Black women in business. If you can’t handle it respectfully, don’t comment. Our collective goal for any discussion should be progress, not ego on who is right/wrong.
Nike is signing Caitlin Clark to an eight-figure deal and giving her a signature shoe - an obvious decision for the apparel behemoth. However, this means that the only active WNBA players with active signature shoes are: CC, Breanna Stewart, Elena Delle Donne, and Sabrina Ionescu. What do they have in common? They’re all white women playing in a dominantly Black league. This is a new development. Previously, almost every WNBA player signature shoe from 1995-2011 belonged to a Black woman: Sheryl Swoopes, Rebecca Lobo (Cuban), Lisa Leslie, Dawn Staley, Cynthia Cooper, Nikki McCray, Chamique Holdsclaw, Diana Taurasi (Argentinian-Italian) and Candace Parker. Stardom drives shoe deal decisions, but shoe deals also drive stardom. Marketers and media have the ability to dictate culture and what’s popular. And right now, basketball companies are saying *only* white women are the face of the WNBA, when A’ja, Arike, Jewell, AT and Sky are right there. Some say “they’re just the best players right now and more marketable,” but come on. COME ON. Stop that. Anyone who is authentically working in women’s sports genuinely understands that representation matters, both ethically and economically. Anyone disagreeing with that is a false actor. This is a truth I have seen first-hand. The U.S. economy stands to add trillions annually if there were more women entrepreneurs (which would require VCs funding women at a greater clip than the current 2-13% rate). Meanwhile, underrepresentation of Black businesses is costing the economy additional billions in unrealized revenues. And so it as a member of both these groups, the Black woman, who faces hardship and unequal footing in America in society and in business, from private civilians to premier basketball players. A’ja Wilson is on the 2024 TIME100 List. And yet for all the progress in society regarding race, and the celebration that is made of A’ja now in media, when it comes to actual *business transactions* that require supporting Black women there is a statistical-based significant fall off that is supported by anecdotal evidence like this WNBA shoe example. Credit to shoe brands for their aforementioned work from 1995-2011. But how in the 12+ years since have we not had a Black woman in the WNBA with an active signature shoe line? It’s not enough for a player to just have a colorway. The signature shoe and the marketing push behind it comes with social implications. I’m asking those with the power to create change to value Black women. Anthony Baldini Athlete Strategies & "Sports in LA" | Sports business analyst | Investor in women’s sports properties Walgreens Boots Alliance is getting the boot from the 30-stock Dow Jones Industrial Average and Amazon is taking its place.
S&P Dow Jones Indices, which manages the index, said in a statement Tuesday that the change is intended to reflect “the evolving nature of the American economy” by increasing the Dow’s consumer retail exposure. The change means that investors who bet on the Dow Jones Industrial Average will now have exposure to Amazon’s stock performance.Walgreens Boots Alliance is getting the boot from the 30-stock Dow Jones Industrial Average and Amazon is taking its place. S&P Dow Jones Indices, which manages the index, said in a statement Tuesday that the change is intended to reflect “the evolving nature of the American economy” by increasing the Dow’s consumer retail exposure. The change means that investors who bet on the Dow Jones Industrial Average will now have exposure to Amazon’s stock performance. Amazon joins Apple and Microsoft as the third company from the “Magnificent Seven,” a group of high-performing tech stocks, to join the Dow 30. The other four companies in the group — Meta, Nvidia, Tesla, and Alphabet — are not included in the index, though all seven stocks are included in the much larger S&P 500 index. Historically, getting added to or dropped from the Dow hasn’t had a significant impact on companies’ stock performances. But presence in the index, which began in 1896, comes with a certain level of cachet. The exclusive group traditionally tries to mirror the most important companies in the US economy. That is why the index is so heavily dominated by technology stocks today. The change will occur before the US stock market’s opening on Monday, February 26. Amazon’s stock rose more than 1% and Walgreens’ stock fell 3% in after-hours trading on Tuesday. S&P Dow Jones Indices also announced that Uber would replace JetBlue Airways in its Dow Jones Transportation Average, which is a 20-stock index that tracks the performance of US transportation companies. The change was prompted by JetBlue’s low share price, according to the company. Both Walgreens and JetBlue have experienced share price declines in recent years. Walgreens’ stock is down 68% in the past 5 years, while JetBlue’s stock has fallen 59% in the same time period. Shawn “Jay-Z” Carter, hip-hop’s first billionaire and one of America’s leading Black billionaires, experienced a staggering $1.3-billion surge in his net worth in 2023 — solidifying his position among the world’s wealthiest Black billionaires. According to Forbes, Jay-Z’s net worth leaped from $1.2 billion on Jan. 1. 2023 to an impressive $2.5 billion on Dec. 31, 2023. This substantial increase placed him among Black billionaires who witnessed remarkable wealth gains during the year. The driving force behind Jay-Z’s remarkable financial growth was the sale of a 50-percent stake in the high-end cognac label, D’Usse, to Bacardi Limited, one of the world’s largest privately owned spirit companies. Jay-Z’s fortune surges from $1 billion to $2.5 billion in 2020
However, the transaction was not without its challenges, as the rapper engaged in a contentious legal battle with Bacardi, expressing concerns over financial transparency and insisting on access to the company’s books and records. This surge in net worth follows Jay-Z’s strategic divestment of shares in the music streaming platform, Tidal, to Square, a renowned U.S.-based mobile payments firm founded by Jack Dorsey — the transaction resulted in a substantial cash and stock compensation of $297 million. Since achieving the milestone of hip-hop’s first billionaire in 2019, Jay-Z has more than doubled his fortune, predominantly through lucrative liquor businesses. Notably, his net worth has escalated from $1 billion in 2020 to $2.5 billion, securing his position as the 1,269th wealthiest individual on Forbes’ richest list. From courtroom wins to Bacardi deals In addition to his business ventures, Jay-Z received a significant $7.2-million settlement from Parlux in 2023, marking the resolution of a seven-year court feud. This financial windfall adds to the rapper’s already substantial wealth. Jay-Z’s strategic decision to sell a majority stake in D’Usse to Bacardi mirrors his previous lucrative deals, such as the $300 million payday in February 2021 from the sale of a 50-percent stake in his Champagne empire, Armand de Brignac, to the French luxury goods conglomerate, Louis Vuitton Moët Hennessy (LVMH). VonoiMag.com Powerful Interview with the The Shark Tank Investors about 15 years of Shark Tank deals. Charlemagne The GOD talks about The Black Effect Network. Christy Rutherford talks about $14 million in salary raises for women, and Vonoi Entrepreneur Awards 2023 Winners and so much more in our printed magazine. Grab your copy at VonoiMag.com
Inspired by spring, travel and vibrant tropical colors. Using simple aluminum extrusions framing, vibrant fabrics and LED lighting to create this spectacular eye catching pop up concepts for luxury brands. Vonoi Magazine
Photo Credit: Vonoi Magazine Rick Ross has had the word “billion” in his vocabulary for quite some time now, from dropping Hood Billionaire in 2014 to naming his son Billion four years later, and he now claims to be on the path to being worth that amount. Rozay has previously talked about operating at a level that involves billions of dollars and has even referred to himself as a billionaire before. On Tuesday (November 7), the Miami rapper took to his Instagram Stories to announce that he’s only a few miles away from actually attaining that status. “We racin’ to a billion, n-gga,” he told his social media followers. “I’m a year away. I’m a year away. Let’s go, baby!” Earlier this year, he put himself in the billionaire conversation alongside one of America’s most divisive businessmen. In mid-September, the Biggest Boss took to social media to show off his shiny black and gold private jet, which was parked at an airport near former president Donald Trump’s aircraft.
The politician’s jet featured similar markings as Ross,’ albeit in red, white and blue colors — a nod to the American flag. Also impossible to ignore was the fact that Trump’s plane dwarfed that of the mogul. “Billionaires Row [champagne toast emoji],” Ross wrote in his Instagram caption, claiming membership in the billionaire boys’ club. While his financial flex has yet to be verified and recent estimates peg his net worth at a figure between $100-150million, he would become just the fourth Hip Hop artist to surpass that milestone following JAY-Z, Kanye West and Diddy. Ye, who was at one point the richest rapper alive, lost the title last year after Adidas terminated their lucrative Yeezy partnership due to his antisemitic comments. The move saw his net worth plummet from $1.5 billion to around $400million. Vonoi Magazine KIRO 7 reports Seattle agencies have joined forces to introduce the inaugural ‘Black Black Friday’ card to celebrate and support Black-owned businesses in the Puget Sound region on Nov. 24.
Spearheaded by Seattle advertising agency DNA, in collaboration with Intentionalist, the Black Friday card is an innovative card that promises shoppers a 20% discount at numerous participating Black-owned businesses. Among the businesses covered by the ‘Black Black Friday’ card are Foot Print Wine, Queencare, Creamy Cone Café, Jacob Willard Home, and many more across diverse industries. The card, available on their website, provides shoppers with attractive discounts and contributes significantly to supporting local Black-owned enterprises. The discount the card offers is generously covered by BECU, ensuring that participating businesses receive the full value of each purchase made with the card. The outlet reports that this collaborative effort is not just about providing discounts; it’s a strategic move to uplift and empower Black-owned businesses during the crucial holiday season. According to a news release, the overarching goal is to generate a minimum of $250,000 in revenue for local Black-owned businesses. This initiative seeks to make a meaningful impact on the economic landscape, emphasizing the importance of inclusivity and empowerment within the business community. In a statement, the organizers expressed their commitment to fostering positive change. “The goal is to generate a minimum of $250,000 in revenue for local Black-owned businesses during the holiday season.” It underscores the community’s collective effort to make a tangible difference in supporting historically disadvantaged businesses. As the ‘Black Black Friday’ card takes center stage, it symbolizes a move toward a more equitable and inclusive shopping experience. Seattle aims to create a ripple effect beyond the holiday season by encouraging patrons to engage with Black-owned businesses. Vonoi Media The official “Candy Cane Lane” trailer is here, providing a more extensive glimpse of the storyline and ensemble cast. The original holiday film is set to premiere globally on Prime Video on December 1, 2023, just in time for the holiday season. In the Candy Cane Lane trailer, we see Murphy’s character, Chris, in competition with the neighborhood to have the best-decorated house. He and his youngest daughter, played by Madison Thomas, stumble upon a mysterious Christmas store. In his excited holiday haste, he fails to read the fine print on a lengthy receipt. In doing so, he unwittingly signs his life away after being tricked by an evil elf, played by Jillian Murphy. Throughout the trailer, the stakes are clear: if he doesn’t meet them, he’ll become one of those “weird happy meal toys,” as described by his wife, Carol (Tracee Ellis Ross). The trailer also provides a glimpse of the other characters in the film, including Danielle Pinnock and DC Young Fly as news reporters. And intriguingly, the trailer hints at a Black Santa Claus, adding an element of diversity to the holiday narrative. Thaddeus J. Mixson, Gennaya Walton, and Madison Thomas also star in the family comedy. Vonoi Media / VonoiMag.com
Photo credit: BRJ for Vonoi Magazine Tamirat Tola of Ethiopia set a course record to win the TCS New York City Marathon men's race, while the women's race came down to a dash to the finish among 3 runners. Hellen Obiri of Kenya emerged the victor. Earlier, Catherine Debrunner and Marcel Hug shattered records in winning their respective Wheelchair Races. Thousands of athletes, pros and amateurs, wound their way across a 26.2-mile course sidelined by a crowd of thousands of spectators through the five boroughs on Sunday in the 52nd annual event. The top American finisher was Kellyn Taylor in a time of 2:29:48.
This was a stellar women's field that was expected to potentially take down the course record of 2:22:31 set by Margaret Okayo in 2003. Unlike last year when the weather was unseasonably warm with temperatures in the 70s, Sunday's race was much cooler with it being in the 50s - ideal conditions for record breaking times and for the 50,000 runners. Instead the women had a tactical race with 11 runners, including Americans Kellyn Taylor and Molly Huddle in the lead pack for the first 20 miles. Taylor and Huddle both led the group at points before falling back and finishing in eighth and ninth. Vonoi Magazine |
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