TIME Body Image

Thousands of People Want Victoria’s Secret to Apologize for ‘Perfect Body’ Ad

But can it make a difference?

More than 16,000 people have signed a U.K. petition asking Victoria’s Secret to apologize for an “irresponsible,” “body-shaming” ad.

The lingerie company sparked outrage for a new campaign celebrating “The Perfect ‘Body.'” The ad copy is a riff on the brand’s “Body” lingerie line, but since the slogan hovers above the supermodels’ bodies, people say it sends the wrong message.

Dear Kate, an underwear company “made by women for women,” insists that the lingerie industry as a whole can and should do better. “As if women need a reminder of our society’s homogenous definition of beauty, the ad features ten models with almost identical body shapes,” its website reads. “The creators of the ad probably didn’t think twice about the message it is sending, and to us, it’s irresponsible marketing.”

Here is Dear Kate’s alternative:

But can the petition incite change? Petition writers Frances Black, Gabriella Kountourides and Laura Ferris note that “we have yet to hear a single word from Victoria’s Secret! It can’t be much longer until they listen up and realise that they have some apologising to do.”

Victoria’s Secret did not reply to TIME’s request for comment.

But the “Perfect Body” campaign is in line with past marketing efforts. Victoria Secret’s previous “Love Your Body” campaign (which also incited backlash) provides a stark contrast to companies like Dove’s take on promoting an ideal body image.

Some companies just prefer companies opt to promote “perfect bodies” rather than “real beauty.”

TIME

U.S. Stock Indexes Zoom Back to Record Highs

Dow Jones Industrial Average Closes At Record High
Traders work on the floor of the New York Stock Exchange during the afternoon of Oct. 31, 2014 in New York. Andrew Burton—Getty Images

US Stocks Hit Record Highs

(NEW YORK) — Major U.S. stock indexes are back at record highs after a turbulent month.

Stocks rallied in the U.S. and overseas after Japan’s central bank surprised investors with a new round of economic stimulus.

Just two weeks ago the U.S. market had its biggest slump in two years.

The Dow Jones industrial average rose 194 points, or 1.1 percent, to close at an all-time high of 17,390 Friday. The Standard & Poor’s 500 reached its own record, climbing 23 points, or 1.2 percent, to 2,017.

The Nasdaq rose 64 points, or 1.4 percent, to 4,630.

Japan’s benchmark index soared 5 percent to its highest level since 2007.

In the U.S., GoPro jumped 13 percent after the maker of wearable video cameras posted strong earnings.

MONEY Investing

Pigs Fly: Millennials Finally Embrace Stocks

Jeans with cash in pocket
Laurence Dutton—Getty Images

Young adults have been the most conservative investors since the Great Recession. But now they are cozying up to stocks at three times the pace of boomers.

What a difference a bull market makes. The Dow Jones industrial average is up 160% from its financial crisis low, and the latest research shows that young people are beginning to think that stocks might not be so ill advised after all.

Nearly half of older millennials (ages 25-36) say they are more interested in owning stocks than they were five years ago, according to a Global Investor Pulse survey from asset manager BlackRock. This may signal an important turnaround. Earlier research has shown that millennials, while good savers, have tended to view stocks as too risky.

In July, Bankrate.com found that workers under 30 are more likely than any other age group to choose cash as their favorite long-term investment, and that 39% say cash is the best place to keep money they won’t need for at least 10 years. In January, the UBS Investor Watch report concluded that millennials are “the most fiscally conservative generation since the Great Depression,” with the typical investment portfolio holding 52% in cash—double the cash held by the average investor.

This conservative nature has raised alarms among financial planners and policymakers. Cash holdings, especially in such a low-rate environment, have no hope of growing into a suitable retirement nest egg. In fact, cash accounts have been yielding less, often far less, than 1% the past five years and have produced a negative rate of return after factoring in inflation.

Conservative millennials, with 40 years or more to weather the stock market’s ups and downs, have been losing money by playing it safe while the stock market has turned $10,000 into $26,000 in less than six years. Yes, the market plunged before that. But in the last century a diversified basket of stocks including dividends has never lost money over a 20-year period—and often the gains have been more than 10% or 12% a year.

Millennials are giving stocks a look for a number of reasons:

  • The market rebound. The market plunge was scary. Millennials may have seen their parents lose a third of their net worth or more. But with few assets at the time, the market drop didn’t really hurt their own portfolio, and stocks’ sharp and relentless rise the past six years is their new context.
  • Saver’s mentality. Millennials struggle with student loans and other debts, but they are dedicated savers. They have seen first-hand how little their savings grow in low-yielding investments and they better understand that they need higher returns to offset the long-term erosion of pension benefits.
  • Optimism still reigns. Millennials are easily our most optimistic generation. At some level, a rising stock market simply suits their worldview.

This last point shows up in many polls, including the BlackRock survey. Only 24% of Americans believe the economy is improving—a share that rises to 32% looking just at millennials, BlackRock found. Likewise, millennials are more confident in the job market: 32% say it is improving, vs. 27% of Americans overall. Millennials are also more likely to say saving enough to retire is possible: only 37% say that saving while paying bills is “very hard,” vs. 43% of the overall population.

Looking at the stock market, 45% of millennials say they are more interested than they were five years ago. That compares with just 16% of boomers. Millennials also seem more engaged: They spend about seven hours a month reviewing their investments, vs. about four hours for boomers.

This is all great news. Millennials will need the superior long-term return of stocks to reach retirement security. Yet many of them are just coming around to this idea now, having missed most of the bull market. In the near term, they risk being late to the party and buying just ahead of another market downdraft. If that happens, they need to keep in mind that the market will rebound again, as it did out of the mouth of the Great Recession. They have many decades to wait out any slumps. They just need to commit and stay with a regular investment regimen.

Read next:

Schwab’s Pitch to Millennials: Talk to (Robot) Chuck
Millennials Are Flocking to 401(k)s in Record Numbers
Millennials Should Love It When Stocks Dive

MONEY Shopping

Retailers Are Launching Black Friday Sales the Day After Halloween

Customers shop at a Walmart store in the Porter Ranch section of Los Angeles November 26, 2013. This year, Black Friday starts earlier than ever.
Customers shopping at a Walmart store on Black Friday 2013. Kevork Djansezian—Reuters

Drop the trick-or-treat bag and commence holiday shopping. That's the scenario retailers are hoping for this season, and they're using big sales starting November 1 to make it happen.

There are plenty of Americans who hate the decision made by retailers to roll out Black Friday sales on Thanksgiving Thursday. Part of the disgust with stores like Macy’s—and more recently, Kohl’s and Staples—which are opening at 6 p.m. on Thanksgiving night, is the idea that they’re ruining what was once a blissfully shopping-free holiday.

There is a sizable portion of the population that is also turned off in general by “Christmas creep,” the relentless expansion of the most promotion-heavy, consumerism-crazed of seasons. Kmart has started airing Christmas ads within days of Labor Day weekend for the past two years, and retailers have gotten into the habit of introducing “Black Friday” sales not on the Friday after Thanksgiving, nor on Thanksgiving itself, but often a full week earlier.

For 2014, retailers are pushing Christmas creep to extraordinary new levels, now that Amazon, Walmart, and others have just announced Black Friday-like holiday sales and promotions starting the day after Halloween. Essentially, retailers are asking consumers to shift from orange-and-green spending to green-and-red spending overnight. They want us to go shopping the moment trick-or-treating is done, before there’s even a chance to pack costumes and ghoulish decorations away until next year.

Naturally, many consumers are reluctant to embrace the holiday shopping mentality so early and so abruptly. To get them on board, major retailers are launching sales that they claim are every bit as good as Black Friday’s, only they’re starting them on Saturday, November 1. Amazon, for instance, is calling November 1 “the official start of the holiday shopping season,” with sales on toys, electronics, and other gift items popping up daily beginning on Saturday and picking up the pace as each week passes. Walmart says it is introducing “Rollback” prices on 20,000 items as of November 1, including plenty of popular holiday gifts (Disney “Frozen” toys, Samsung electronics, etc.), and on Monday, November 3, walmart.com is hosting a “cyber savings event” with discounts and free shipping on select items. (Yes, it’s not just Black Friday that’s being imitated and multiplied; stores are doing it with Cyber Monday as well.)

Meanwhile, Target started offering free, no-minimum-purchase shipping for the holiday season one week ago, Office Depot begins “early Black Friday” and “Every Day is Cyber Monday” deals as early as this Sunday, and other players such as QVC promise “better than Black Friday” sales throughout November.

On the one hand, smart shoppers are aware that these early season promotions are likely ploys to get shoppers to pay more than they would have by waiting for even better prices on Black Friday, Cyber Monday, or some later day in the season. Considering that retailers overuse the term “Black Friday” to the point of meaninglessness, and that many early season promotions are underwhelming considering the 40%- or 50%-off deals shoppers have come to expect during the holidays, this is surely part of the game.

Yet there’s more to it. Retailers aren’t simply trying to sell merchandise for slightly more money than they’d charge a couple of weeks down the line. More importantly, they’re engaged in a battle to beat the competition and win the business of consumers as early as possible. After all, we’re talking about the shopping dollars of households that, more often than, are suffering from stagnant wages and are operating on limited budgets. Once the holiday gift budget is blown, that’s it for the season whether the household’s holiday shopping is done on November 2 or December 24.

Last week, Bill Martin of the store-traffic research firm ShopperTrak spoke to the Minneapolis StarTribune about why stores are increasingly feeling compelled to open on Thanksgiving, and his insights explain a lot about why retailers are hell-bent on pushing for earlier and earlier shopping in general:

“Retailers say that consumers are clamoring for them to be open on Thanksgiving, but that’s not the case,” he said. “They’re just attempting to get to the wallet before the money is gone. That’s what this holiday creep is all about.”

And that, in a nutshell, is why stores aren’t giving shoppers even a brief moment’s pause between Halloween promotions and Christmas promotions. If retailers took a break and actually allowed consumers time to digest some candy, and perhaps even allowed the weather to start feeling wintery before rolling out winter holiday deals, they run the risk of losing out on tons of sales snagged by competitors that beat them to the punch with early season sales—however absurdly early these sales may seem.

TIME finance

U.S. Stocks Open Higher Following Asia Gains

NEW YORK (AP) — U.S. stocks are opening higher following big gains in Asia after Japan made moves to rev up its economy.

The Standard & Poor’s 500 index rose 18 points, or 0.9 percent, to 2,012 as of 9:35 a.m. Eastern time Friday.

The Dow Jones industrial average rose 148 points, or 0.8 percent, to 17,346. The Nasdaq composite rose 67 points, or 1.5 percent, to 4,633.

Markets rose sharply in Asia after the Bank of Japan unexpectedly announced new stimulus measures to boost the country’s flagging economy. Tokyo’s benchmark Nikkei index jumped 5 percent.

In the U.S., GoPro soared 15 percent after the maker of wearable cameras reported higher earnings and revenue than analysts were expecting.

The price of the 10-year Treasury note fell. Its yield rose to 2.33 percent.

 

TIME Companies

Android Founder Ditches Google for Tech Startup

Google Ice Cream Sandwich Debuts As IPhone Sets Record
Andy Rubin, senior vice-president of Google Inc.'s mobile division, speaks during an event in Hong Kong, China, on Wednesday, Oct. 19, 2011. Jerome Favre—Bloomberg / Getty Images

Andy Rubin helped build and expand the Android operating system to one billion users

A senior Google executive who spearheaded the launch and expansion of the Android mobile operating system to more than one billion users has left Google for a startup venture, the company announced Thursday.

Andy Rubin led the development of Google’s mobile platform until last year, when he briefly took the helm of the company’s nascent robotics unit. He pushed for the acquisition of Boston Dynamics, a robotics company that has made waves with its spry, four-legged machines that can run like a cheetah. Rubin is leaving the company to launch an incubator for startups focused on developing hardware products, the Wall Street Journal reports.

CEO Larry Page bid farewell to Rubin in a public statement on Thursday. “I want to wish Andy all the best with what’s next,” Page said. “With Android he created something truly remarkable— with a billion-plus happy users.”

Rubin will be succeeded by James Kuffner, a senior member of Google’s robotics team, which the company said would continue to form a core element of its business strategy.

TIME Careers & Workplace

1 Trick to Remember Even the Most Boring Information

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Katie Black Photography—Getty Images/Flickr RF

If you're not curious, you should be

Facing the unpleasant task of having to commit some dull facts or figures to memory? Now you don’t have to be that person fumbling for their notes or clicking frantically through slides during an important presentation. To kick your ability to recall information into overdrive, try piquing your curiosity, a new study suggests.

People are better at learning and remembering information they’re genuinely interested in, but researchers have discovered that a state of curiosity has a kind of halo effect on other, incidental or unrelated information we’re exposed to at the same time.

An NPR article points out this principle is useful for teachers who want to engage students by framing a lesson as a story or riddle, but as it turns out, the idea also might benefit grown-ups in the workforce.

“I think there are some useful ideas that can come out of our study with regard to adult learning,” says Charan Ranganath, a psychology professor at the University of California, Davis and one of the study’s authors, although he does caution that this is speculative.

Ranganath and his co-authors presented experiment subjects with both interesting and incidental information, and watched how these people processed it using MRIs. They found that a state of curiosity stimulates the brain’s pleasure centers.

What’s so special about curiosity that it has such a powerful effect? Ranganath suggests it’s an evolutionary response. “We are starting to think that the feeling of curiosity reflects a natural drive to reduce uncertainty in your understanding of the world,” he says. “So when you know something about a topic, but then find there is a gaping hole in your knowledge, you will feel the itch to get to the bottom of it,” he says.

Ranganath and his colleagues theorize this might be why we’re more receptive to remembering ancillary details unrelated to the object of our curiosity. “Our work suggests that the motivational state of high curiosity can help you more effectively retain what you learn,” he says.

If you’re faced with a memory task that doesn’t grab your attention, Ranganath suggests tricking your brain into engaging with the information by pinpointing a gap in your knowledge about a topic that interests you, then investigating it, before tackling the chore at hand. “If you have to learn something, it is important to stimulate your curiosity,” he says.

TIME Careers & Workplace

5 Justifiable Ways to Be Completely Ruthless

Business meeting
Getty Images

Want to get to the top? You can't be nice all the time

Inc. logo

This post is in partnership with Inc., which offers useful advice, resources and insights to entrepreneurs and business owners. The article below was originally published at Inc.com.

It’s often said that even the most respected leaders are considered by many to be ruthless, even brutal at times. Of course, often when leaders are perceived as merciless, that hard perception belongs to those who did not deserve any mercy.

Great leaders have to be tough and decisive. Often their decisions will displease many, but they can’t effectively lead if every decision is the result of democracy or consensus. This is the difficult path for the leader. It’s easy to stay popular when you appease everyone, but rarely will that drive a large organization to success. They must make the best decision taking all the needs and wants into account. Ultimately, they have to lead the way or step aside.

Here are five ways a leader must be uncompromising and perhaps ruthless in order to benefit a loyal following. See if you have the strength to be tough when needed.

1. Drive the vision.

Despite the arguments from proponents of flat management, most companies can’t move forward without strong vision and a leader ready to move the organization forward despite the risks and stress. Great leaders know when to push or pull the team down the road in order to break the inertia.

2. Protect the team.

Not everyone is a great fit on every team. Well-meaning people can be disruptive and difficult given the wrong set of circumstances. A great leader understands when dysfunction is beyond repair and must make the cut so the team can survive despite individual consequences.

3. Weather the storm

Business can be unpredictable. Just when you think things are calm, something like the financial crisis of 2008 comes along and destroys every bit of safety you built over decades. Great leaders know that this is the time to make decisions that may hurt the few in order to save the many. They must maintain strength at the expense of collateral damage so that all don’t perish.

4. Maintain morale.

Great leadership requires strength, structure, stability and decisiveness. When a team is surrounded by chaos, inaction and indecision productivity drops along with morale. Strong leaders know that running a tight ship allows for the team to be more carefree and opens the door for enjoyment and, ultimately, the kind of innovation that breeds genuine excitement making small personal sacrifices of freedom worth the price.

5. Preserve the culture.

Not every team can survive a wide variety of personality traits. Companies that scale tightly define their culture and use it as a tool to weed out those who may cause growth to slow. Great leaders continuously define and refine the culture to reward those who can conform and excel while ruthlessly eliminating those who won’t be a fit for the long haul. On the bright side, those people will be free to find an environment where they can thrive and be happy rather than living in frustration and mediocrity.

TIME technology

7 Ways Satya Nadella’s Microsoft Is Completely Transformed

Microsoft Corp Chief Executive Officer Satya NadellaSpeaks At Company Event
Satya Nadella, chief executive officer of Microsoft Bloomberg—Bloomberg via Getty Images

It’s not even nine months into the Satya Nadella era of Microsoft and the new CEO is making his mark. Notably, his Microsoft is smaller after completing this week most of the 18,000 job cuts he announced in July. Whether Nadella’s plans for Microsoft succeed, it’s clear the company is dramatically different from the Microsoft that ruled the technology industry in the 80s and 90s. The Microsoft that Nadella leads has strayed so far from its original incarnation that it seems in some ways to have become nearly its opposite. Here are seven examples of how today’s Microsoft is different from the juggernaut Bill Gates built.

1. Microsoft has a kinder, gentler CEO. Bill Gates frequently hurled verbal abuse at employees and was coldblooded about deploying predatory practices against competitors. Steve Ballmer had a reputation for hurling chairs and inspiring the rank and file in manic, sweat-soaked diatribes. Both heightened Microsoft’s image as a hard-charging software giant.

Nadella is cut from a different cloth entirely. Yes, his mansplaining about salaries revealed an ability to insert his foot in his mouth, but most accounts of his temperament describe a low-key and humble personality at odds with those of his predecessors. He communicates not in fist-pumping speeches but lengthy memos on strategy.

2. The tables have turned in the Microsoft-Apple rivalry. For decades, Apple had but a sliver of the market share for personal computers. In 2014, Apple is not onlyshipping more personal computers – counting the ones that fit in our pockets – it’s making much more money from them. Apple made $156 billion in revenue from iPhones, iPads and Macs in the last year. And Microsoft? Between Windows and Office software, Nokia phones and Surface tablets, it saw about $23 billion in revenue.

3. Microsoft isn’t a monopoly, but it competes with some. Gates never got the stranglehold he wanted on the Web, thanks to antitrust lawsuits and the Internet’s decentralized structure. And today, Microsoft is just one more company fighting for turf in a variety of markets: enterprise software, game consoles, search and, yes, personal computers.

And anyway, monopolies in the Internet era aren’t quite what they used to be. Yes, Amazon is bullying publishers but it’s pushing prices down, not up. Yes, Google dominates in search but it costs consumers nothing to find a perfectly good alternative like Bing. Neither of those companies is exactly stifling innovation but rather investing heavily in new technologies.

4. Microsoft isn’t really a Windows-driven company. And not just because PC sales have been declining for years. It’s more because Microsoft under Ballmer expanded into gaming and enterprise software markets. Under Nadella, these are becoming an even bigger part of the business. Enterprise offerings like server and storage software, cloud computing and consulting services made up 53% of revenue last quarter. Xbox made up 7%. Windows and Office were only 18%.

5. Microsoft has stopped worrying and learned to love open. Or at least it’s trying. Where Ballmer called the Linux open-source operating system a “malignant cancer,” Nadella proclaims, “Microsoft loves Linux.” All along, Nadella has said Microsoft needs to develop its own platform while playing well with others. Thefitness tracker Microsoft announced Thursday works with Windows as well as Android and iOS phones. Its Office programs work on those platforms too, even though that approach is leaving Microsoft vulnerable to upstarts.

6. It’s not exactly a growth company anymore. In the mid-90s, Microsoft’s revenue was growing by nearly 40% a year. It’s risen an average of 8.5% a year over the past two years, although that pace could increase this year under Nadella. Wall Street demands from Microsoft the kinds of hefty payouts older, slow-growth companies offer: Last year, Microsoft spent $4.9 billion on buybacks and $9.3 billion on dividends. Taken together, that’s more than Microsoft spend on R&D.

7. But it’s slowly gaining cachet among young geeks. A generation of software engineers grew up in the 80s and 90s loathing Microsoft – calling it evil, the Borg, or worse. But for those who came to know Microsoft not through Windows but the Xbox console and Halo franchise, the feelings range from indifferent to positive.

The $2.5 billion purchase of Mojang may or may not make Microsoft a cool brand. But it will wash away the hostility that the Microsoft brand inspired only a dozen years ago. Most kids who love Minecraft seem to think of Microsoft as a big corporation that won’t hurt and might even help Minecraft develop. That generational shift in sentiment may be the most dramatic evidence of how Microsoft has changed.

TIME Food & Drink

Starbucks Announces Plans for Coffee Delivery Service

Paper cups of different sizes are seen on display at Starbuck's first Colombian store at 93 park in Bogota
Paper cups of different sizes are seen on display at Starbuck's first Colombian store at 93 park in Bogota July 16, 2014. John Vizcaino—Reuters

The service will launch in select markets during the second half of 2015

If you’re one of those people that can’t start their day without a cup of Starbucks coffee, you may soon have to go no further than your front door.

During the company’s Thursday earnings conference call, CEO Howard Schultz outlined plans to begin a food and beverage delivery service late next year, according to NBC.

The deliveries will be available to the chain’s loyalty program customers in a few specific markets at first, and will be integrated into a new Starbucks mobile app set to debut in Portland, Ore., next month before expanding to the rest of the country. The app will also allow users to order and pay with their phones.

“Imagine the ability to create a standing order of Starbucks delivered hot to your desk daily,” Schultz said, calling the initiative their version of “e-commerce on steroids.”

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