TIME twitter

Twitter Is Feeling Pressure to Name a New CEO

Vanity Fair New Establishment Summit - Day 2
Kimberly White—Getty Images for Vanity Fair Jack Dorsey

Co-founder Jack Dorsey is reportedly among the candidates

Investors are getting antsy over the precarious situation over at Twitter.

The social network, which saw CEO Dick Costolo depart at the end of June, has been without a permanent head since then. That may change after a company board meeting Thursday, a report says.

Twitter’s board will discuss the progress in its search process at the meeting and may provide investors with an update, according to Bloomberg. The company is considering naming interim CEO and Twitter Co-founder Jack Dorsey as its permanent chief. However, Dorsey is currently the CEO of mobile payments startup Square, and some analysts have reservations about letting the man permanently helm two companies at once.

Other candidates on the reported shortlist include former Cisco Systems executive Padmasree Warrior, CBS Interactive executive Jim Lanzone, and Twitter revenue chief Adam Bain.

Twitter has faced a rough summer, with a steep drop in its stock price, the departure of several product heads, and slow user growth. Upcoming changes—such as a robust marketing campaign and a new feature that will aggregate compelling tweets around specific topics—could help reverse the company’s fortunes.

MONEY deals

Labor Day Deals Could Be As Good as Black Friday

Spending the Stimulus
Mike Groll—AP

Many products will get steep discounts this weekend

This weekend is as good a time as any to shop. In fact, it may be one of the best times, with discounts at some stores matching the deals regularly seen on Black Friday.

USA Today’s money expert Matt Granite outlines many of the best deals to expect in a new video. Among the best offerings:

  • Appliances from brands like Kenmore and Whirlpool will be 40% off and will include free delivery at stores such as Sears, Home Depot, and Best Buy.
  • Grills, canopies, and patio sets will be up to 50% off to clear out inventory before fall.
  • Gap, Old Navy and Hollister will have clothing deals up to 70% off.

Granite also outlined some products to avoid over the holiday weekend. Fall clothing and big-screen TVs will likely drop more in price by Black Friday. Laptops were just discounted during back-to-school deals, so they’ll probably be back at regular price. And Apple is expected to announce a new slate of products at a Sept. 9 event, including a new iPhone, so it’s best to hold off to see how those new items affect prices for the company’s gadgets.

TIME Companies

Net-a-Porter Founder Resigns Suddenly Ahead of Merger

Natalie Massenet, founder and chairman of Net-A-Porter Ltd, pauses during an interview at the company's head office in London on June 18, 2015.
Matthew Lloyd—Bloomberg/Getty Images Natalie Massenet, founder and chairman of Net-A-Porter Ltd, pauses during an interview at the company's head office in London on June 18, 2015.

Natalie Massenet was set to be chairperson of a new company formed after a merger

The founder of fashion e-commerce site Net-a-Porter suddenly resigned Wednesday, just after the company announced its merger with Italian online retailer Yoox, scheduled to be finalized in October.

Natalie Massenet was going to be executive chairperson of the combined company, responsible for overseeing editorial content. Her departure means she will not be part of the board, Yoox said in a statement.

Massenet founded Net-a-Porter 15 years ago as a curated luxury goods retailer that was one of the first to enter the online sphere. The founder became an icon in fashion circles, known for her taste and frequent appearances with a bevy of celebrity friends.

Considered by many to be a fashion retailing visionary, Massenet had a turbulent history with her counterpart at Yoox, Federico Marchetti, made worse when initial merger talks crumbled last year, according to Reuters. Marchetti will now lead the company.

Massenet was the subject of a recent, extensive New York Magazine feature, in which she seemed to waver between staying at the company and imagining a possible future without her in it.

“Since the day I started the company, I have thought about what it will take for this business to have momentum and keep going forward regardless of who is in the company,” Massenet said, noting that she saw a future of “being happy and innovating and thriving.”

MONEY salaries

The Coal Industry Is Hurting, But Its Execs Are Still Getting Raises

Luke Sharett—© 2015 Bloomberg Finance LP Conveyor belts crisscross a coal prep plant owned by Alpha Natural Resources Inc. stands in Logan County near Yolyn, West Virginia, U.S., on Wednesday, August 5, 2015.

In 2014, CEOs of the top 30 publicly-held oil, gas and coal companies earned 9% more than the average CEO of a S&P 500 company.

The coal industry has had a rough time in recent years. Between late 2010 and the end of 2014, the top ten publicly-traded coal companies saw their combined share price value drop by more than half, as hundreds of plants closed and thousands of employees were laid off. This spring, Alpha Natural Resources, the nation’s largest producer of metallurgical coal, declared Chapter 11 bankruptcy. And Obama’s new Clean Power Plan, aimed at reducing carbon emissions, isn’t likely to make things any easier for U.S. coal producers.

But according to a September 2nd report from the Institute for Policy Studies, the industry’s problems haven’t put a dent in the compensation of its top executives. In fact, they’re still getting raises.

“The boards of the 10 top coal companies doled out eight percent more salary and annual cash bonus pay to their top five executives in 2014 than in 2010, before the coal meltdown began,” the report reads. In total, these executives have made nearly $6 billion over the past five years.

The executives’ astronomical earnings are bad news for the fight against climate change, IPS points out, because they mean these executives have little incentive to stop fighting for coal over more environmentally-friendly alternatives. What’s more, taxpayers are footing much of the bill: federal subsidies to fossil fuel companies are about $37.5 billion a year.

The higher executive compensation is also likely to be increasing the pay ratio of coal company CEOs to their workers. We’ll find out just how much in 2018, when new federal regulations will require publicly-traded companies to disclose that information.

TIME Apple

Apple Will Likely Debut a Bigger iPad Next Week

Inside A SoftBank Store As Apple Inc. New iPads Go On Sale
Bloomberg—Bloomberg via Getty Images

It will be called the ‘iPad Pro,’ a report says

Next Wednesday, Apple will cram a big crowd of journalists, executives, and other lucky people into San Francisco’s Bill Graham Auditorium, and will reportedly unveil, among other things, a bigger iPad.

The bigger iPad has been rumored for quite some time, but 9to5Mac’s Mark Gurman—a prolific Apple news whisperer—reported Wednesday that Apple will almost certainly materialize on Sept. 9. Trip Chowdhry, managing director of equity research at Global Equities Research, also told Fortune that the device will likely debut next week.

Geared toward power users, the “iPad Pro,” as Gurman reports it is actually named, will sport a 12-inch display, run iOS 9.1, support a Force Touch-based stylus, and have speakers on two sides. The iOS 9.1 operating system will reportedly include special versions of the Siri and Notification Center interfaces.

With all that said, there’s still a chance that Apple won’t reveal the bigger iPad next week. Pre-orders are slated for October, and shipments for November, so Apple could be planning a special event for it in October, according to Gurman.

Other rumored announcements for next include new iPhones, a revamped Apple TV, new bands for the Apple Watch, and possibly a new iPad mini.

TIME youtube gaming

Jimmy Kimmel Made Fun of YouTube Gaming and People are Freaking Out

ABC's "Jimmy Kimmel Live" - Season 13
Randy Holmes—ABC via Getty Images Jimmy Kimmel

The gaming community was extremely offended and vocal about it

The Internet is going crazy over a Jimmy Kimmel episode that made fun of YouTube Gaming, a recently launched platform where you can watch people play video games.

Kimmel began the skit by admitting that he “must be getting old” because he simply doesn’t understand the phenomenon. He then proceeded to make jokes, as a late night talk show host tends to do.

In introducing the skit he joked that the gaming channel should be called the “We Should All Be Very Ashamed of Ourselves for Failing as Parents” channel, and compared watching other people play video games to “going to a restaurant and having someone eat your food for you.” The skit featured a God character who reacts to this gaming platform with: “I’ve created a race of idiots!”

The gaming community did not take this well. Kimmel’s video, which has been posted on YouTube, is nearing 100,000 dislikes, and some of the comments are brutal. More level-headed commenters likened watching video games to watching sports; others called him an “irrelevant old man” and told him to “get cancer.” Some of them were almost impressively creative and included words I probably shouldn’t repeat here, so find the best ones here.

Kimmel responded to commenters in a more recent episode with the following:

I have been approached, and I’m gonna sit down with people who care very much about this topic and I’m gonna be open-minded. I’ll give these gamers an opportunity to show me what is fun about watching other people play video games.


This New Sony Phone Has the World’s First 4K Display

JOHN MACDOUGALL—AFP/Getty Images Newly released Sony Xperia Z5 smartphones.

It's even better than the iPhone 6

Get ready for even sharper images when using Sony’s recently unveiled new Xperia Premium smartphones.

The phone will be the first to have a 5.5-inch 4K display, according to The Verge. It’s likely to be released in November.

The pixel density on the upcoming Xperia Z5 Premium will be 806 ppi. Compare that to Apple’s 5.5-inch iPhone 6 Plus, which has just 401 ppi, according to the publication.

The phone will be available in chrome, black, and gold, too, for a luxury feel.

But there are some potential issues with the greatly enhanced screens. One is a lack of footage that actually makes the most of the boosted specs. As The Verge notes:

Sony promises that the Z5 Premium will upscale videos and images to 4K, but upscaling is usually not as good as the real thing. (We didn’t get a chance to try out Sony’s method.) There’s also the issue of battery. Although Sony promises that the Z5 Premium will last up to two days on a single charge just like the Z5 and Z5 Compact, it’s not clear how this figure will hold up to any sustained video use on a 4K display.

The phone is, notably, heavier than the iPhone 6 Plus: It’s 180 grams versus 172 grams for the bigger iPhone.

MONEY Shopping

You Can Already Buy Kanye 2020 Campaign Gear on Etsy

Michael Tran— FilmMagic Kanye West speaks onstage during the 2015 MTV Video Music Awards on August 30, 2015 in Los Angeles, California.


Responses to Kanye West’s announcement, “I have decided in 2020 to run for president,” at the VMAs on Sunday were decidedly mixed (read: mostly negative). But whether or not you think Kanye and Kim belong in the White House, it’s hard to deny that his campaign swag could be pretty dope.

In fact, some of it is already on sale, thanks to the fine minds at Etsy. There’s a “West/Swift 2020” T-Shirt, a white varsity “Mr. West 2020” sweatshirt, campaign badges on the cheap, and plenty of Kanye plays on the iconic Obama HOPE poster, among other items. No word on whether Kanye actually had anything to do with the merch.

And yes, as you probably could have guessed by this moment, I’m sort of excited.

TIME Taco Bell

Taco Bell Made a Taco Shell Out Of Fried Chicken

Fast Food Workers Nationwide To Demand Higher Wages
Elijah Nouvelage—Getty Images

Of course it did

Imagine a Taco Bell taco, but instead of a crispy taco shell, it’s made with crispy chicken.

Now you don’t have to because Taco Bell just released its new Naked Crispy Chicken Taco. It’s a breaded white meat chicken shell filled with lettuce, tomato, shredded cheese, and avocado ranch sauce. Foodbeast confirmed the existence of this new menu item, finding only two locations in which it’s sold, one in Lost Hills, Calif., and the other in Bakersfield, Calif. There is a 50-cent difference in prices, but each one sells for under $3.

This is one of a few changes that Taco Bell has made in recent months to try to drive in more sales. The chain has also tested home delivery, alcohol sales, and a breakfast menu to compete with McDonald’s and similar restaurants. It has even been catering to consumers’ preferences for healthier foods by removing all artificial flavors and colors from its menu.

MONEY home improvement

This Simple Home Improvement Tip Could Save You a Bundle of Cash

Getty Images

Think twice before adding another bathroom.

As anyone who’s ever lived in tight quarters can tell you, the general rule of thumb for a happy home is the more bathrooms, the merrier.

Less known is this gem: according to the Wall Street Journal, adding a half bathroom to your home will actually add nearly as much value to your home—and sometimes even more—than adding a full bathroom. This revelation obviously affects decisions made by homeowners, as adding a half bathroom requires significantly less money (and space) than the typical full bathroom.

Based on data gathered in the last week of July by Realtor.com, the WSJ reported Wednesday that while adding a half bathroom to a one bathroom home will raise the median list price about 5% less than adding a full bathroom, in homes with more than five bathrooms a half bath actually increases the median list price almost 10% more than another full bathroom.

The takeaway, according to Stephen Melman, who spoke to the Wall Street Journal as the director of economic services for the National Association of Home Builders, is that the law of diminishing returns definitely applies to full baths.

An extra powder room on the first floor, on the other hand? That’s very likely to pay off handsomely.

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