Uber is the 800 lb gorilla in the room. The king of the ring. The ridesharing company was the first recognized ridesharing app, giving Uber a huge competitive advantage. In fact, Uber has become so popular that people say “I’ll uber over” instead of “I’ll grab a ride there”. When your company’s name becomes a verb for what you actually sell, that’s success. But all that success is teetering right now as Uber faces more and more negative press. At risk? CEO and founder Travis Kalanick’s future position with the company. Just how bad are things for Uber?
Read The Capitalist’s Take Here
Read More at The Street Here
Read More at CNBC Here
JEFF SESSIONS TESTIFIES IN FRONT OF SENATE INTEL COMMITTEE; DENIES RUSSIA TIES, REFUSES TO DISCLOSE TRUMP CONVERSATIONS
Attorney General Jeff Sessions engaged in highly contentious testimony before the Senate Intelligence Committee on Tuesday, with Democrats pressing him on his conversations with President Trump related to the investigation of Russian meddling in the 2016 election. He called any suggestion that he colluded with Russians during the election an “appalling” lie. “Please, colleagues, hear me on this,” he said.
AMr. Sessions said he would not discuss his direct conversations with Mr. Trump, saying, that “consistent with longstanding Department of Justice practice, I cannot and will not violate my duty to protect confidential communications with the president.”
Read More at NY Times Here
Read More at Politico Here
Read More at The Atlantic Here
TIME, INC. SLASHES 4 PERCENT OF WORKFORCE AFTER FAILED BUYOUT OFFERS
Time Inc. is eliminating 300 employees through layoffs or buyouts as the struggling publisher tries to transform its declining print business for the digital age.
The job cuts were announced in an internal memo written by Chief Executive Officer Rich Battista, who said a key component of his turnaround strategy is making the company more efficient and re-investing those resources in growth areas.
“Today we took a difficult but necessary step in that plan,” Battista said in the memo obtained by Bloomberg. Battista did not specify the areas of the company that will see the cuts, which amount to 4 percent of Time’s total workforce.
Read More at Bloomberg Here
Read More at Reuters Here
Read More at NBC News Here
– Tuesday, June 13th
Markets Shoot UP as Tech Snaps Back
Big Insider Trades
– Hudson Pacific Properties, Inc. (HPP) COO Mark Lamas Sells $2.3m
– Dell Technologies, Inc. (DVMT) CEO Michael Dell Buys $1.1m