Alan Murray
Fortune
New York, NY, United States
Contact Alan
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Recent articles by Alan:
Trump Takes on Rocket Man — CEO Daily, Wednesday 20th September
• Sprint/T-Mobile Merger Is Back on The on-off merger of Sprint and T-Mobile is back on, according to CNBC. According to the report, Deutsche Telekom would emerge from an all-share deal as majority shareholder, with Softbank as a large minority shareholder. If the deal were to go ahead and get antitrust clearance, that would pave the way for France’s Altice to make a move on Charter… → Read More
Toy Story Ends in Chapter 11— CEO Daily, Tuesday 19th September
• The Fed Prepares to Unwind U.S. stock markets hit new record highs in anticipation of the Federal Reserve’s Open Market Committee meeting, with financial stocks leading the way. That’s due to a return in confidence that the Fed can unwind its policy of ‘quantitative easing’—the injection of trillions of dollars into the banking system through bond purchases—without disrupting a global economy… → Read More
Facebook Under Fire — CEO Daily, Monday 18th September
• Northrop Grumman Snaps up Orbital Northrop Grumman said it will buy fellow defense contractor Orbital ATK for some $7.8 billion in. Orbital, a specialist in rocket motors and other missile-related technology, was worth $6.3 billion at Friday’s close, implying a premium of 22%. The deal comes as the U.S. prepares to renew its arsenal of intercontinental ballistic missiles and should strengthen… → Read More
North Korea, Nelson Peltz and Feedback Friday — CEO Daily, Friday 15th September
• Tillerson Highlights Rift Over Iran Secretary of State Rex Tillerson said Iran was “clearly in default” of expectations under the 2015 nuclear deal, highlighting a rift with the U.S.’s European allies who are anxious not to provoke a fresh confrontation with the Islamic Republic (European business has been much quicker to re-enter the Iranian market since sanctions were lifted). Iran’s Foreign… → Read More
Stock Windfall Drives CEO Pay Ever Higher — CEO Daily, Thursday 14th September
• Trump Bypasses GOP Again, This Time on Dreamers The White House and Democratic party leaders Nancy Pelosi and Chuck Schumer said they’d reached an agreement on protecting undocumented immigrants who were brought to the U.S. as children. The two sides differed on their interpretation of what had been agreed. The Democrats said the deal ruled out Democratic support for funding a border wall,… → Read More
“Worse Than Tulip Bulbs” — CEO Daily, Wednesday 13th September
• Apple Wows Everyone Except Wall Street Apple’s eagerly-awaited and leakier-than-usual product launch delivered a $999 top-of-the-range model X, along with enhanced Augmented Reality capabilities, wireless charging, better camera, stronger screens and, not least, the first screen without a home button. It also updated its smartwatch product with cellular connectivity and a tool to measure heart… → Read More
Bye-Bye Irma, Hello iPhone X — CEO Daily, Tuesday 12th September
• Florida Prepares for a Long Clean-Up Florida began a long, hard, and expensive clean-up after a much diminished Hurricane Irma moved inland. Over 60% of the state’s residents were without power last night and Florida Power & Light says it will take weeks to restore full service. A last-minute deviation by the storm spared Miami, but the Keys were devastated and Jacksonville suffered… → Read More
Fortune’s 100 Fastest Growing Companies — CEO Daily, Monday 11th September
• Florida’s Lashing by Irma Avoids the Worst Hurricane Irma weakened after leaving a trail of destruction across Florida that saw central Miami flooded and nearly 5 million people left without power. The storm has now been downgraded to a Category 2. While storm surges have been severe, including on the state’s vulnerable west coast, the volume of rain has been far less than that deposited by… → Read More
Irma Bears Down on Florida – CEO Daily, Friday 8th September
• Equifax Suffers Massive Data Breach Consumer credit firm Equifax said the personal details of as many as 143 million U.S. consumers were stolen by hackers between mid-May and July, in what appeared to be one of the largest data breaches in the U.S. to date. Credit card information and “certain dispute documents with personal identifying information” were also accessed. The company said it… → Read More
Change the World – CEO Daily, Thursday 7th September
• Southeast Braces for Irma Impact Hurricane Irma laid waste to Barbuda and a handful of other Caribbean islands as it approached the southeast coast. Florida, Georgia and South Carolina have all announced a state of emergency, amid reports of incipient fuel shortages and price gouging. Orange prices are also rocketing in anticipation of widespread crop destruction. On the other side of the… → Read More
Duopolists Oppose Aerospace Merger – CEO Daily, Wednesday 6th September
• It Never Rains But It Pours A combination of fears about North Korea, bad weather and a sputtering economy battered stock markets and drove the prices of haven assets such as bonds and gold higher. Factory orders fell by 3.3% in July, their biggest monthly drop since 2014. The Federal Reserve’s Lael Brainerd warned that stubbornly low inflation could stop the central bank raising interest… → Read More
The Hype Gap in AI
• Kim Capitalizes on Xi’s Hesitancy North Korea is “begging for war,” and the U.S.’s patience is nearing exhaustion, Ambassador Nikki Haley told a special session of the UN Security Council. China continued to urge diplomacy, and to talk up the dangers of U.S. escalation of the military situation (President Trump Monday authorized in principle the lifting of payload limits on South Korea’s… → Read More
CEOs Rush to Defense of 'Dreamers' Program
• Wells Fargo Scandal Mushrooms Wells Fargo said an outside review of its fake accounts scandal found an additional 1.4 million potentially unauthorized deposit and credit card accounts—65% more than the bank initially owned up to. The review looked two years further back (to 2009) than Wells had initially done, which raises more questions about the efforts of ex-CEO John Stumpf and his board to… → Read More
CEO Daily: Tuesday 29th August
• Harvey Havoc Continues The death toll from Hurricane Harvey reached 10 as rain continued to lash Houston and the surrounding area. Some 30,000 people are seeking emergency shelter while around 450,000 are likely to seek federal aid, according to the New York Times. Among the direct economic impacts, gas prices have surged to a two-year high due to disruptions at Gulf coast refineries, and… → Read More
CEO Daily: Monday 27th August
• Uber Taps Expedia CEO The board of Uber voted to appoint Dara Khosrowshahi, currently CEO of online travel company Expedia, as the ride-sharing startup's new CEO. The move comes roughly nine weeks after co-founder Travis Kalanick resigned in late June following a string of scandals at the company. Uber's board had reportedly been deciding between Khosrowshahi and Hewlett Packard Enterprise CEO… → Read More
Feedback Friday: CEO Daily, Friday 25th August
• Sears' Struggles Continue Some of Sears Holdings' vendors and insurance brokers tell Reuters that the struggling department store operators is having trouble stocking its shelves, as some vendors are either abandoning stores or asking for more favorable terms due to insurance issues. The cost of vendors' insurance—which ensures suppliers can still be paid for their inventory even if the… → Read More
Will He Stay or Will He Go?: CEO Daily, Thursday 24th August
• Uber's Revenue Is Up Despite Turbulence Uber's 2017 has been a wild ride, with a string of scandals that led to the ouster of former CEO Travis Kalanick. But, the turmoil didn't slow down Uber's improving financial performance, as the ride-sharing company generated $1.75 billion in adjusted net revenue in the second quarter of 2017—up 17% from the previous quarter—and the company narrowed its… → Read More
The New Industrial State: CEO Daily, Wednesday 23rd August
• Chevron CEO Watson Is Stepping Down Chevron CEO John Watson is stepping down by the end of September, according to Reuters' sources. Mike Wirth, the oil giant's Vice Chairman, is likely to be named Watson's successor in a surprising move that would come as major oil and gas companies continue to look for new ways to reduce costs and reign in spending after multiple years of depressed oil… → Read More
CEO Daily, Tuesday 22nd August
• BHP Billiton Selling U.S. Shale Business Amid Activist Pressure BHP Billiton, the world's largest miner, announced plans to sell its U.S. shale assets, which the Australian company acquired as part of a $20 billion spending spree just six years ago. The move follows months of pressure from activist investor Elliott Management to rethink strategy. Wall Street Journal, subscription required •… → Read More
The Moral Imperative of Leadership: CEO Daily, Monday 21st August
Good morning. The New York Times this weekend discovered CEOs have a moral voice. In a piece on the front of the Sunday business section, David Gelles quotes from last week’s statements by Mary Barra, Jamie Dimon, and Ken Frazier as well as Marc Benioff and Howard Schultz, and cites “notable and new kinds of pressure from within—from employees who expect or encourage their company to stake out… → Read More