Finance reporting never ceases to read like it's written by sociopaths.
The core of this piece is sound enough: if the US keeps interest rates high while other major markets are easing, investors will leverage the disparity by investing money borrowed from low-interest countries in the US. This surfeit of external cash will then boost US inflation.
But when you end up writing about job growth as a bad thing because it might keep interest rates high? #YouMightBeTheBadGuy
https://www.businessinsider.com/america-economy-recession-stock-market-crash-inflation-interest-rates-2024-6
@MLClark Elon Musk is up for a $45B (U.S.) compensation vote today by #Tesla shareholders.
This #NYTimes article argues that the company has stopped innovating because Elon is more interested in driving up share value than innovation -- a problem typical of many U.S. companies.
"Problem is, the performance was not for making high-quality cars or making affordable cars or making cars at scale. The performance was for pushing Tesla’s stock price up."
https://www.nytimes.com/2024/06/11/opinion/tesla-elon-musk-pay.html
"The board promised Mr. Musk — at his urging — that if he made the board and the shareholders truly wealthy by boosting the stock price, by whatever means, he could have 12 percent of the company. Yet I believe this pay package helped drive his descent from visionary business leader to bizarre carnival barker. And that set of incentives and responses should not be validated."
https://www.nytimes.com/2024/06/11/opinion/tesla-elon-musk-pay.html
@MLClark And then there's this bright light from #Ikea:
*****
In trying to fix its quitting problem, Ikea went full-steam ahead in addressing the most important issues to workers, Ring told the outlet, including better pay, more flexibility for employees, and integrating new technologies to make employees' jobs easier.
It paid off: Ikea's global quit rate fell from 22.4% in August 2022 to 17.5% in April 2024, Bloomberg reported.
@MLClark #Ikea Here's the original #Bloomberg article if you can get past the paywall.
https://www.bloomberg.com/news/features/2024-06-11/how-ikea-keeps-its-store-workers-from-quitting