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Bloomberg Businessweek

Bloomberg Businessweek 5/28/2018

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

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United States
Bloomberg Finance LP
50 Issues

in this issue

23 min
stay or leave?

John Arnett chose Adams County, Ohio, as his home long before he was old enough to vote, drink beer, or drive a motorcycle along the Ohio River. After his parents split up, Arnett opted at age 10 to spend most of his time with his grandmother in Adams County, along the river 70 miles southeast of Cincinnati, rather than with his parents in the Dayton area. He liked life on the tobacco farm his grandfather had bought after retiring early from General Motors Co. in Dayton. And his grandmother, who became a widow when her husband died in a tractor accident, welcomed the companionship. After high school, Arnett joined the U.S. Marine Corps, in 1999. His unit, the 1st Battalion, 7th Marines—the storied Suicide Charley—took him to the other side of…

5 min
your own private island

Fitness executive Jim Worthington had one goal for the luxury trip he was planning to celebrate the birthday of his girlfriend, Kim Levins: privacy. “I wanted to be 100 percent away from everybody,” he says from his office in Bucks County, Pa. “It was her 30th birthday, and I didn’t want to share it with anybody but her.” So he booked the couple into Gladden Private Island, a tiny hotel off the coast of Belize that opened in December. It consists of a single two-bedroom villa. The island “is less than an acre. You could walk from one tip to the other, and it would take less than 30 seconds,” he says, laughing. “It was like being Robinson Crusoe—you have no idea the staff is even there.” He and Levins spent…

4 min
we’re the new face of crypto scams

If you wanted proof that crypto scams have gone mainstream, look no further than our Twitter accounts, @LilyKatz and @olgakharif. During the first three weeks of May, fraudsters copied our pages, including profile photos, to push Ether swindles onto our 17,000 collective followers. And in spite of multiple requests to Twitter Inc. to have them removed, at least one of our doppelgängersand a host of other bot-driven fakes targeting individuals and companies—are still out there offering unbelievable deals. “Setting up a bot is easy-peasy,” says Roger Kay, president of Endpoint Technologies Associates. “The sign-up probably takes longer than the programming.” Twitter is a hotbed of crypto gossip and one of the preferred places for promoters to hawk their products, so it makes sense that scammers are crowding onto the platform. We…

5 min
birds, bees, but not millennials

It made perfect sense when American women reacted to the recession of 2007-09 by having fewer babies. But we’re nine years into the second-longest expansion on record, unemployment is well below average, and yet the birthrate hasn’t rebounded. The number of births in the U.S. fell in 2017 to its lowest in 30 years. What’s going on? One possible explanation is that the economy’s good health masks continued hard times for men and women in their 20s and early 30s, who are responsible for most baby-making. “This young generation, millennials, I think they still feel pretty uncertain, as if they can’t afford to make this big long-term commitment” to raising a family, says Karen Guzzo, a sociologist at Bowling Green State University. “They have these standards: ‘I want to live in…

3 min
katie rodan and kathy fields

After 35 years as business partners, dermatologists Katie Rodan and Kathy Fields still do everything together—including interviews. “Last week a woman recognized me,” Fields says. “She said, ‘You’re Katie Rodan!’ I said, ‘Close!’” They’ve reached street-level celebrity thanks to their smash-hit skin-care line, Proactiv, which sells about $1 billion in products a year through mall kiosks and infomercials featuring the likes of Katy Perry and Justin Timberlake. Their latest line of treatments, Rodan + Fields, hit $1.5 billion in sales in 2017—largely through consultants who sell to their friends and contacts, like social-media-era Mary Kay ladies. Friends from medical school, they came together in the late 1980s over a shared frustration from their private practices: Available acne treatments were typically useful only after pimples appeared. Rodan and Fields formed a partnership and…

2 min
in brief

● The Democratic Republic of Congo rushed to fight an Ebola outbreak, using an experimental vaccine from Merck. Development of the treatment was spurred by the outbreak that killed more than 11,300 people across West Africa beginning in 2014. ● Venezuela’s neighbors refused to recognize the result of its presidential election, in which fewer than half of voters cast ballots. Incumbent Nicolás Maduro declared victory. ● The U.S. House approved a sweeping bipartisan bill to roll back regulations on small and midsize banks levied after the 2008 financial crisis. The Senate had passed the legislation in March. ● Stacey Cunningham was named president of the New York Stock Exchange. Cunningham is the first woman to lead the organization in its 226-year history. Two of the three major U.S. exchanges are now led by women:…