Money Stuff: The Podcast Hurt People Hurt People: SBUX, LMEs, BofA
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Aug 16, 2024 The discussion kicks off with reflections on the new leadership at Starbucks and its marketing-savvy CEO. The hosts then dive into the complex world of liability management exercises, pinpointing the ethical dilemmas faced by creditors. A shift in credit investing strategies is also highlighted, emphasizing liabilities over assets. Office culture gets a humorous twist as they share light-hearted anecdotes about long hours at Bank of America, raising insightful questions about remote work and employee well-being.
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Starbucks' New CEO
- Starbucks hired Brian Niccol, former Chipotle CEO, as their new CEO and chairman.
- Niccol, known for inventing the Doritos Locos Tacos, achieved 800% stock growth at Chipotle.
CEO Impact
- Niccol's hiring added $20 billion to Starbucks' market cap, making his $113 million package a bargain.
- This demonstrates CEO talent's impact and justifies his move, benefiting both companies long-term.
Remote CEO
- Niccol will be a remote CEO, working from home in Newport Beach.
- This arrangement gives him more autonomy, potentially insulating him from board pressures and Howard Schultz's influence.