The iPhone 6 has been one of Apple’s biggest product introductions in years. Here’s a closer look at the device’s main features.
Author Tim Ferriss suggests some common bad habits you should definitely add to your not-to-do-list
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See who rose and fell in this year's ranking of the Fortune 500
Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. For the full list, click here.
Following Tim Cook's announcement that is gay, here is a look back at the many successes of the Apple CEO.
"I can't believe I waited 30 years to put Fritos on a pizza"+ READ ARTICLE
In a new ad, Papa John himself admits he’s ashamed of something: “I can’t believe I waited 30 years to put Fritos on a pizza!”
A pizza topping that surely someone must have been asking for. Right? Maybe? Well, Papa John’s CMO Bob Kraut told Businessweek a chili and Fritos-topped pizza was a “no-brainer,” so clearly someone thought it was a good idea.
While we have yet to try the new dish, which is being marketed to NFL watchers, the staff of Esquire did it for us. In the words of the publication’s Anna Peele, “Eating this pizza is like having sex with a coworker: Primarily intriguing because it’s transgressive, then instantly regrettable.”
American fast-food chains have a long way to go before entering the same league as its Asian-based locations’ weird fusions — Pizza Hut Korea literally put shrimp, calamari, bacon, steak and sausage on a pizza and then stuffed the crust with either cranberry or cinnamon apple nut and cream cheese filling — but it’s good to know America is putting its hat in the ring.
With only weeks to go until a November 24 deadline for a deal between Iran and the West over Tehran's nuclear program, Iranian and Western investors have their fingers crossed
If you just looked at the numbers, the deal revealed last week by the aerospace and defense giant Boeing seemed insignificant: $120,000, for some data, aircraft manuals and navigation charts. But symbolically, the sale to Iran Air, revealed on Oct. 22 was a big deal—the first time that an American aerospace company had done business with Iran since the U.S. began its sanctions there in 1979.
The Boeing sale, which was sanctioned by the U.S. Office of Foreign Assets Control under a temporary sanctions relief deal that began in January, is just one sign that Iran might soon be open for business with the West for the first time since the Islamic Revolution. As the clock ticks down towards November 24, the deadline for a deal between Iran and the West over Tehran’s nuclear program, both Iranian and Western business communities are hoping for a gold rush. Tehran throngs with Europeans jockeying for business, such as this winter’s planned visit to Iran of a hundred French executives, or the Italians, Chinese and Germans browsing the Tehran construction and mining trade show in August. Many international companies, from Samsung to Renault are already in Iran, trading in sectors permitted under the sanctions, such as food, cars and pharmaceuticals. In 2013, E.U. countries made 5.4 billion Euros ($6.8 billion) worth of exports to Iran. Emerging market experts make breathless comparisons to Russia just after the Berlin Wall’s fall. “Iran,” said Charles Robertson, global chief economist at Renaissance Capital, “is the biggest opportunity of the next 10 years.”
It’s easy to see why it could be. New markets of nearly 80 million people are rare indeed. Rarer still are emerging markets with oil and gas, educated work-forces and lively stock-markets — all humming with pent-up potential from Iran’s thirty-five years as an economic pariah. Iranian boosters reject comparisons with Vietnam and Burma, other newly open economies.”We like to think of it as Turkey on steroids,” quipped an Iranian investor at the Europe-Iran Forum, a recent London conference that brought together European investors and Iranian businessmen.
But challenges remain. If the Forum was designed to showcase Iran’s possibilities, it also underscored the hurdles in tapping them. Few business conferences ban “negotiation, deal-making, or commercial transactions,” but this one did, mindful of the Obama’s promise to “come down like a ton of bricks” on anyone breaking sanctions. The former foreign ministers of Britain and France delivered speeches — even as the British Foreign Office reiterated to Reuters that its policy remained “not to encourage trade with Iran.” Sir Martin Sorrell, CEO of the world’s largest marketing group, WPP, gave the keynote — though some pro-Israel groups had petitioned him not to, citing Iran’s human rights record, support for terrorism and anti-Semitism. On the first day of the Forum, there were protesters outside filming participants on their way into the venue.
Inside, European business people listened to presentations on sectors from oil to healthcare to consumer goods. But even the most bullish Iran-watchers admitted that a November 24th deal over the country’s nuclear program, should one be agreed, would just mark the first hurdle. One unintended effect of sanctions has been what’s amounted to a de facto boycott of Iran; companies are reluctant to do business with Iran even if it’s technically legal, in areas such as food or humanitarian aid. “The spirit of the law is even more burdensome than the letter of it,” said Esfandyar Batmanghelidj, a founding partner of the Europe-Iran Forum. “The effect on banks has undermined the idea that sanctions aren’t meant to hurt the Iranian people.” This June’s record $8.9 billion fine on BNP Paribas for breaking U.S. sanctions on Iran and other countries spooked banks anew, and Iranian investors realize that even if sanctions are lifted, Iran needs to rebuild its relationships with the international banking community. “Any number of good political outcomes may occur by November 24,” said Amir Ali Amiri of investment company ACL, “but even then, in the parallel universe of business, if European banks continue to lack confidence in putting together a letter of credit for Iran, they’re not going to touch the opportunity.”
Both within Iran and outside of it, there are vested interests who stand to lose if sanctions lift. China has benefitted from Iran’s sanctions, which delivered “the Iranian market to the Chinese on a silver platter,” notes Ali Fathollah-Nejad, a political science fellow at the German Orient Institute. Iran could rival Russia as a major supplier of oil and gas if it is allowed to export freely. Then there are the Revolutionary Guards, Iran’s ideological protectors of the Islamic Revolution, who have emerged as pivotal economic players. An open Iran would challenge their position, notes Fathollah-Nejad, “But the Supreme Leader Khamenei’s decision to go for a deal with the West signals that he’s been able to keep those guys at bay.” Not all commentators agree that Khamenei is certain to support a deal.
With around three weeks till the deadline, it’s not just oil and gas executives and sanctions-weary Iranians hoping for a deal. In a speech last week, the U.S. chief negotiator Wendy Sherman urged Iran to “finish the job,” while U.S. officials say President Obama may try and bypass a vote on suspending sanctions in Congress, where support for Israel is strongest, the New York Times recently reported. Congress, however, may not allow the President to bypass it.
“It’s the last large untapped market in the world,” says Ramin Rabii, of Iranian investment firm Turquoise Partners. “The future is very exciting.” The only question that remains — at least until November 24th — is whether all the hurdles can be overcome.
A dummy maker is building an obese model to reflect the weight Americans are putting on
Like the God of Genesis, auto crash testers fashion dummies in their own image. Crash test dummies have four limbs and a head so that when they’re strapped into a doomed car, the collision shows what a real human ramming a vehicle into a solid wall looks like.
The problem is, our image has changed, and the svelte dummy of yesteryear is a hopeful mirage at best.
So instead, we need obese dummies. That’s because more than 0ne-third of Americans are obese, and obese drivers are more likely to die in a car crash. Humanetics, a company that makes crash test dummies, is making their dummies bigger, with one version that weighs 270 lbs and has a BMI of 35, NPR reports. The increase in size allows the company to measure belt and airbag loads during crashes.
“Obese occupants are up to 78 percent more likely to die in a car crash than an average weight driver,” Humanetics President and CEO Christopher O’Connor told trade publication Crash Test Technology International. “Having a body mass index of 35-39.9 percent increases your risk of death by 51 percent.”
Congressional inaction has resulted in a patchwork of state legislation that’s left big gaps across the country where being LGBT can be cause for termination
On Thursday, Apple chief executive officer Tim Cook confirmed what had long been believed: he is a gay man.
In coming out in Bloomberg Businessweek, Cook wrote, “Of course, I’ve had the good fortune to work at a company that loves creativity and innovation and knows it can only flourish when you embrace people’s differences. Not everyone is so lucky.”
That last statement is accurate, not just because of the prejudice that gay individuals face in their personal lives, but because of the lack of protections against the discrimination of gay, lesbian, bisexual, and transgender people in the workplace.
According to the American Civil Liberties Union, in 29 states workers can still be fired for saying exactly what Cook wrote Thursday. They include:
Congress has failed to pass federal legislation that bans discrimination in the workplace based on sexual orientation and transgender identity outright. But politicians in Washington have introduced legislation known as the Employment Non-Discrimination Act for two decades. And, for two decades, it has failed to pass.
Congressional inaction has resulted in a patchwork of state legislation that’s left big gaps across the country where being LGBT can be cause for termination.
“When I talk about hot topics, the Employment Non-Discrimination Act is front and center. The President and The White House are making incremental steps to move us in that direction because there is no federal protection,” says Selisse Berry, founder and chief executive officer of nonprofit advocacy organization Out & Equal.
In June, President Obama signed an executive order banning workplace discrimination based on employees’ sexual orientation and gender identity among federal contractors. In September, the EEOC filed its first lawsuits on behalf of transgender employees under the Civil Rights Act of 1964.
The business community in the U.S. is also doing its part to combat LBGT discrimination. Company by company, businesses have put sexual orientation and gender identify protections into their codes of conduct. “That way, people can come out at work and not be worried about being fired,” Berry says.
“Ninety-one percent of Fortune 500 companies include sex orientation protections. Seventeen years ago, it was 5%. People weren’t really talking it,” she says. Today, 61% of Fortune 500 companies include protection against gender identity bias.
The situation overseas, however, is significantly different. “There are 17 countries where [LGBT people] can be married,” Berry notes, “but 75 where we can be imprisoned or killed as LGBT people.”
Here’s what rights groups and other powerful people had to say about the Apple CEO’s announcement
Earlier today, Apple CEO Tim Cook published an essay in Bloomberg BusinessWeek publicly acknowledging for the first time that he’s gay. In so doing, he not only confirmed something that had been long assumed, he also became the only openly gay CEO of a Fortune 500 company. Naturally, the essay brought out a number of reactions from people in the business world, the media and politics, plus more than a few activist groups. Here are some of the major responses.
Microsoft’s CEO Satya Nadella, via Twitter:
The National Gay & Lesbian Chamber of Commerce:
The National Gay & Lesbian Chamber of Commerce, the business voice of the LGBT community, commends Tim Cook for his moving and heartfelt coming out essay. While his story and success are unique, we are proud to say we hear about similar journeys every day from the LGBT Americans, including those who are part of NGLCC. Our goal is to expand economic opportunities and advancements for LGBT people. Tim’s words today will help us in that mission. They also serve as an opening of the door for other LGBT CEOs and senior executives to move forward in knowing there is a safe place for them in the business world.
StartOut, a group supporting LGBT entrepreneurs, CEO Gene Falk:
While there have been substantial gains for the community in representation and visibility in politics, entertainment, journalism and now even sports, in too many places the corporate closet continues to flourish, and there are virtually no role models in the senior ranks of the business community. Today that changed. Tim’s leadership of Apple has not been, and will not be, defined by his being out. It will only be enhanced because now he’s empowered to lead without hiding.
Anthony Watson, CIO of Nike and GLAAD Board of Directors, via Twitter:
Phillip Schiller, senior vice president of worldwide at Apple, via Twitter:
Jason Collins, first openly gay active NBA player, via Twitter:
Barney Frank, the first Congressman to voluntarily come out as gay, speaking on CNBC:
“When the man who has been the leader for several years with great success of one of the most important … businesses in America, says, ‘Oh by the way, you know those people about whom you have these negative feelings, well I’m one of them.’ That does such an enormous amount to diminish the negative feelings. I am very grateful for him doing it.”
Human Rights Campaign President Chad Griffin:
Tim Cook’s announcement today will save countless lives. He has always been a role model, but today millions across the globe will draw inspiration from a different aspect of his life. Tim Cook is proof that LGBT young people can dream as big as their minds will allow them to, whether they want to be doctors, a U.S. Senator, or even CEO of the world’s biggest brand.
Arthur D. Levinson, chairman of Apple’s Board:
Tim has our wholehearted support and admiration in making this courageous personal statement. His decision to speak out will help advance the cause of equality and inclusion far beyond the business world. On behalf of the board and our entire company, we are incredibly proud to have Tim leading Apple.
John Legere, CEO of T-Mobile, via Twitter:
After he came out as gay Wednesday morning+ READ ARTICLE
When Tim Cook took the helm at Apple in 2011, many saw the Alabama native and former company chief operating officer as a somewhat boring Steve Jobs stand-in. Wall Street worried whether Apple could continue its remarkable growth under a new boss, while Apple fans wondered if they could expect the same astronomical advancements in consumer technology they’d grown to love.
In the intervening three years, Cook has impressed doubters with new products like the Apple Watch and the iPad Air, and wowed shareholders as Apple’s stock price continues to rise (a six-month hiccup in 2012-2013 aside).
We’ve learned things about Cook’s personality and life, too. He’s not the terrifying, volatile firecracker that Jobs was. But the instinctively private Cook has gradually revealed a more personal side as he’s accrued successes. Cook’s most personal revelation came Wednesday, with his formal acknowledgment that he is gay, an oft-rumored fact that the Apple chief had never publicly confirmed.
In the spirit of getting familiar with the CEO of one of the world’s most iconic companies, here are 6 things to know about Tim Cook:
He’s a working-class kid from the Deep South
Cook grew up in southern Alabama near the Gulf Coast, and worked at a paper mill in the state and an aluminum plant in Virginia. His father was a shipyard worker. Cook earned his degree in industrial engineering from Auburn University in his native Alabama.
He wakes up at 3:45 every morning
By all accounts, Cook is a dogged worker. He told TIME in 2012 that he wakes up every morning before 4 a.m., spends an hour on email, then goes to the gym, then Starbucks, then heads to work.
He’s a keen manager
Cook got his start managing Apple’s complex supply chains, closing warehouses and instead employing contract manufacturers. He pushed hard for stable supplies of product parts. “You kind of want to manage it like you’re in the dairy business,” he has said. “If it gets past its freshness date, you have a problem.” Cook is also able to coordinate fluidly with Apple’s different departments. After Jobs’ death, he broke down structural walls between design and software engineering segments, Bloomberg Businessweek reported last month.
Though Cook doesn’t often chatter about his hobbies (“I’ve tried to maintain a basic level of privacy,” he says), Cook enjoys hiking and cycling. He included a shot of Yosemite National Park on his Twitter page, and he’s reportedly an avid cycler as well as a self-admitted “fitness nut” — a reason, perhaps, that Apple’s upcoming Apple Watch is being marketed towards the fitness-obsessed.
His sexuality hasn’t gotten in the way at Apple
Being gay has never been a problem for Cook at Apple, he said in his column for Businessweek. “Plenty of colleagues at Apple know I’m gay, and it doesn’t seem to make a difference in the way they treat me,” said Cook. “Of course, I’ve had the good fortune to work at a company that loves creativity and innovation and knows it can only flourish when you embrace people’s differences.”
He’s a listener
Unlike his predecessor, Cook’s managerial style is markedly collaborative. When a group of investors visited Apple’s campus in 2012, Cook did what would have been unlikely for Jobs: he showed up, listened to his CFO’s presentation, and answered questions. Cook has showed that for the first time in years, not only Apple employees have the CEO’s ear, but investors do, too.