The Death of Golf
Golf courses are closing all across the country due to low demand and being redeveloped into spa facilities and residential complexes. But a handful of entrepreneurs think they can get a new generation into the sport.
The Story Behind the Olympus Scandal
Ex-president and CEO Michael Woodford says he tried to blow the whistle on fraudulent accounting related to $1.6 billion in transactions. He was then fired:
“Woodford, 51, recounted how he had just returned from Hong Kong, having fled Tokyo after a board meeting in which Olympus Chairman Tsuyoshi Kikukawa had fired him. The cause for dismissal, according to Woodford: his insistence that Olympus officials come clean about a series of questionable purchases dating to 2006, totaling $1.6 billion, none of which had been adequately reported in the company’s consolidated financial statements. The deals had been approved by Kikukawa and the Olympus board, yet in several cases the parties receiving the sums were not even clearly identified in Olympus’s books. (At least one Japanese magazine had strongly hinted that the Yakuza were beneficiaries of some of these shady deals.) Woodford, frustrated by the board’s stonewalling, had hired the accounting firm PricewaterhouseCoopers to conduct an independent audit of the suspicious transactions. For several weeks leading up to his dismissal, he had been calling the board to account for these transactions, and eventually demanded the board’s resignation. Instead, Woodford was purged. And now he was running for his life.”
The Green Bay Packers Have the Best Owners in Football
The Green Bay Packers are a historical, cultural, and geographical anomaly, a publicly traded corporation in a league that doesn’t allow them, an immensely profitable company whose shareholders are forbidden by the corporate bylaws to receive a penny of that profit, a franchise that has flourished despite being in the smallest market in the NFL—with a population of 102,000, it would be small for a Triple A baseball franchise. Of all the original NFL franchises—located in places like Muncie, Ind., Rochester, N.Y., Massillon and Canton, Ohio, and Rock Island, Ill.—Green Bay is the only small-town team still in existence. The Packers have managed not merely to survive but to become the NFL’s dominant organization, named by ESPN in 2011 as the best franchise in all of sports.
Taco Bell and the Golden Age of Drive-Thru
It’s as if the great advances of human civilization, in everything from animal husbandry to mathematics to architecture to manufacturing to information technology, have all crescendoed with the Crunchwrap Supreme, delivered via the pick-up window.
How to Survive in Vegas
Gary Loveman left a Harvard Business School professorship to join Harrah’s Entertainment. By putting his theories about customer service into practice, he built the world’s biggest gaming company. Then came the crash.