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Bloomberg Businessweek

Bloomberg Businessweek 9/3/2018

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

2 min
in brief

● White House counsel Don McGahn will step down this fall after the hearings for Supreme Court nominee Brett Kavanaugh. McGahn has been instrumental in getting 60 judges through the Senate confirmation process, more than any other recent administration at this stage. ● The Trump administration pledged to pay farmers $4.7 billion to offset fallout from its escalating trade war with China and the European Union. Farmers and their trade groups said it’s not enough, as prices for pork, soybeans, and corn have plummeted. ● Toyota Motor said it will put $500 million into Uber Technologies, adding to a strategic investment it made in 2016. The companies are teaming up to bring Uber’s autonomous technology into Toyota vehicles. ● Thanks to MoviePass and Incredibles 2, the summer box office is set to finish up…

3 min
john mccain: american hero

John McCain was a war hero; that’s undeniable. Still, he never liked the label. No true hero ever does. But the truth is, it didn’t begin to do him justice. To me, John wasn’t only a hero in war. He was also a hero in politics. Over the years, we disagreed on many issues, but I always admired his determination to do what he believed was right, even if it carried a political cost—as it so often did. The strong independent streak he demonstrated time and again, and his willingness to pay the price for it, defined his political career. John never sacrificed his integrity or honor—or the interests of America—for personal or political gain. He truly understood what it meant to put America first, and he did it throughout his life:…

9 min
the dividends of wrath

It was late January 2010, and Treasury Secretary Timothy Geithner sat slumped in a leather chair as the afternoon sun cast shadows across his ornate corner office. He’d just gotten off the phone with Federal Reserve Chairman Ben Bernanke. The economy was, if not exactly healthy, light-years ahead of where it had been when he took the job a year earlier—a moment when the world teetered on the brink of another Great Depression. The financial contagion had been halted. Growth had returned. The stock market was 10 months into a bull run that continues to this day. But Geithner had the weary resignation of a beaten man. I’d been following him for months for a long magazine profile, and this was our valedictory interview, his chance to pull back and make…

5 min
nike’s still tied up in knots

Up until recently, sexual harassment claims at Nike Inc. followed a familiar trajectory in the #MeToo era. Women who worked at the company shared information about the abuse they faced at work. Shortly after, a group of executives left. Now four former female Nike employees are suing the athletic apparel giant—not for sexual harassment, but for pay discrimination and limited opportunities for women to win promotions. The plaintiffs are seeking damages and an end to Nike’s alleged discriminatory policies. If the lawsuit clears the difficult hurdle of attaining class-action status, a lawyer for the plaintiffs says, she expects at least 500 more women to join. “Just firing a few people is not going to change something that has been in the making for many years,” says Laura Salerno Owens, the plaintiffs’ attorney.…

4 min
a french tuneup for german cars

The giant Opel factory in Rüsselsheim, an industrial city a half-hour’s drive west of Frankfurt, appears little changed from last summer: Employees still wear “We are Opel” T-shirts. The melody that rings out every few minutes, signaling that someone needs assistance, is the same. Body panels for Insignia sedans and Zafira minivans still follow the same yellow marks on the concrete floor on the way to their “wedding,” where workers add the engine and transmission to the frame. One thing, though, is dramatically different: The cars that roll off the end of the line are sold at a profit. “When I see friends in the pub, I can finally put the keys to my Opel on the table with pride again,” Matthias Deschamps, a 33-year assembly-line veteran, says looking over the…

1 min
the miseducation of elon musk

On Aug. 7, a week after reporting a record loss at Tesla Inc., Chief Executive Officer Elon Musk stunned Wall Street by tweeting his intention to take the electric car maker private. Previous big buyouts like that of Dell Inc. took many months to play out; Musk’s ill-fated effort to escape public-company scrutiny lasted only 17 days. Here’s a quick look at the whirlwind process that’s left Tesla pretty much right where it started—except for the shareholder suits. *INCLUDES OTHER GM BRANDS SOLD IN EUROPE; † THROUGH 1H; GM AND PEUGEOT USE DIFFERENT ACCOUNTING STANDARDS. DATA: OPEL…