Davis ThinkingThis month, the chief executive officers of America's biggest companies went on a media blitz to decry the uncertainty caused by the fiscal cliff. In such uncertain times, they say, they are hesitant to invest in the US economy.
I don’t blame you if your first reaction after reading the headline is to say, “Only 2?” There are probably dozens of significant leadership lessons to be drawn from the JPMorgan Chase debacle. But it’s unlikely I will live long enough to write such a comprehensive piece – so we’ll go for the Big 2.
The longest-term impact of the $2 billion dollar loss will not be on the bank itself, and maybe not even on future regulation, but on the overall perceptions of a society as it clings to the hope that someone somewhere is doing the right thing and always will
Wall Street moved higher on Wednesday after better-than-expected first-quarter results from Intel and JPMorgan Chase helped to stoke hopes about the global recovery. Increased corporate spending reported by Intel provided further evidence the economy is slowly but steadily recovering. Stocks have been rising in recent months on encouraging signs of growth.
JPMorgan Chase kicked off what is expected to be a robust — and controversial — reporting season for the nation’s banks Friday with news that its profit and pay for 2009 soared. In a remarkable rebound from the depths of the financial crisis, Morgan earned $11.7 billion last year, more than double its profit in 2008, and generated record revenue. The bank earned $3.3 billion in the fourth quarter alone.
JPMorgan Chase announced earlier this week that it plans to hire 1,500 new mortgage and small business bankers by the end of 2010. I think this is a tremendous branding opportunity. "We have invested in new systems, aggressively grown our capacity and are now looking to increase our sales force," said its head of home lending in a statement reported on CNN.
For those of us in marketing there's a competition at the U.S. Open that's equal to the exciting Melanie Oudin when it comes to the potential for big bucks. It's the competition among corporate sponsors of the tournament for consumer attention. While the tennis balls are certainly interesting to tennis buffs like me, as a branding professional it's the match for eyeballs that really peaks my interest.
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