Category: Business

BusinessPolicyTechnology

Tech Industry Grapples with Leadership Controversies and AI Ethics Amid Service Disruptions

Salesforce’s CEO Marc Benioff has walked back his suggestion for military intervention in San Francisco after sparking industry division. Meanwhile, Amazon Web Services experienced a widespread outage affecting major platforms, and OpenAI’s Sora faces criticism for unauthorized use of celebrity likenesses in AI-generated content.

Salesforce CEO Retreats from Military Deployment Comments

Salesforce co-founder and CEO Marc Benioff has reversed his position on deploying military forces in San Francisco after initially supporting former President Donald Trump’s proposed intervention, according to reports. Benioff, whose company serves as San Francisco’s largest private employer, reportedly made the controversial remarks during his company’s Dreamforce conference, creating tension with his established liberal political alignment.

by Carter Wells
BusinessConstructionLeadership

Sundt Construction Appoints Cade Rowley as New Chief Executive Officer

Sundt Construction has appointed company veteran Cade Rowley as its new president and CEO. Rowley succeeds Mike Hoover, who transitions to executive chairman after leading the firm since 2016. The leadership change comes as Sundt has expanded from regional to national operations.

Leadership Transition at Major Construction Firm

Sundt Construction, the Tempe, Arizona-based builder, has named longtime company veteran Cade Rowley as its new president and chief executive officer, according to an October 1 company announcement. The leadership change marks the first CEO transition at the construction firm in nearly a decade, with Rowley succeeding Mike Hoover, who had held the position since 2016.

by Darren Holt
BusinessFinanceMarkets

JPMorgan Shifts Stance on Goldman Sachs, Cites Valuation Concerns and European Bank Appeal

JPMorgan has reportedly downgraded Goldman Sachs to neutral, citing its stock trading at fair value. Analysts suggest European investment banks present more attractive opportunities due to significantly cheaper price-to-book ratios.

Analyst Downgrade and Price Target Adjustment

JPMorgan has reportedly shifted its position on Goldman Sachs shares, according to recent analyst reports. Sources indicate that analyst Kian Abouhossein downgraded the investment bank from overweight to neutral, while simultaneously raising the price target to $750 per share from $625. This adjustment suggests approximately 2% downside from Monday’s closing price of $763.32, the report states.

by Darren Holt