Cement production is responsible for about 8% of CO2 emissions. For the world to become carbon neutral, big cement companies have to do the heavy lifting. Here is short video where the CEO lays out the ambitious goals the company has for 2030.
The seeds of the revival of McDonald’s started with a simple decision that is surprisingly easy to get wrong: go back to basics. From 2015 onwards, it pared back its array of menu offerings and focused on price and quality. It recommitted to Ray Kroc’s beloved business model, increasing the share of franchises last year to 93% (of almost 39,000 restaurants), up from 82% in 2015. That provided it with higher-margin and steadier royalty and rental income. It streamlined its sprawling international operations, selling control of its restaurants in China and Hong Kong. The results were impressive. Across McDonald’s sales exceeded $100bn last year; its operating margins, thinner than a frazzled patty in most of the restaurant industry, ballooned to 43%. And its share price sizzled. Since 2015 its market value has almost doubled to $160bn.
“Anybody who seeks wealth as an end in itself is always going to be disappointed,” he said in 1995. “What you really should be doing is seeking excellence in achievement.”
The NYT Times has worked hard to cut costs and get people to pay for digital content. It has been more successful in this quest that many other newspapers around the world. But as more and more people read their news on smartphones, it faces challenges from digital-only news sources. Politico has published an insightful piece on the big transformation that still lies ahead for the NYT if it wants defend its position as leading news organization.
As far as I can tell, Thian is trying to move Credit Suisse in the right direction to make the firm more sustainable. But a large fraction of employees is in open revolt again him. Will be successful. The NYT reports: “When Tidjane Thiam took over at Credit Suisse last July, he laid out a new direction for a financial giant with a storied investment banking history: Do less investment banking. [...] One year in, Credit Suisse stock is down 50 percent. And the investment bank, the second largest in Switzerland after UBS, is in open revolt.” Read full story.