The bottom line
■One in five U.S. workers is bound by non-compete agreements prohibiting him or her from moving to an employer’s competitor, including 14 percent of workers earning less than $40,000 a year. The Obama administration has called on states to ban noncompete agreements for lowwage workers and employees not privy to trade secrets.
■Eighty percent of news stories written about a female CEO leading a company involved in a crisis place the blame on the woman, compared with 31 percent for male CEOs, according to a recent analysis by the Rockefeller Foundation. Male CEOs also receive better coverage for their handling of crises, with 25 percent receiving positive coverage, compared with 20 percent for female CEOs.
■Giphy, a search engine for animated GIFs, last month raised $75 million in equity funding, giving it a valuation of $600 million. That is more than twice what Amazon CEO Jeff Bezos paid for The Washington Post in 2013. Giphy says 100 million people see its GIFs each day, but it is still looking for a way to generate revenue.
■Volvo has repaired all 16,000 heavy trucks recalled earlier this year for a dangerous steering problem, a rare 100 percent fix rate for an automobile recall. Most recalls reach only 70 percent completion within the first 18 months.
■Corporate boards appear more willing to fire the chief executive. In 1984, 35 percent of CEOs had been in the job for 10 years or more; in 2000, only 15 percent had. By 2009, the average CEO tenure at the world’s biggest companies fell to around six years, rebounding only slightly during the economic recovery.
The New Yorker