Bloomberg

"Close readers of Cook’s letter pointed out that the reasons he cited didn’t really add up. “Cook said two months ago that Apple’s China business was ‘very strong,’ even amid signs of an economic slowdown and months of headlines about trade tensions with the US,” wrote Bloomberg columnist Shira Ovide. She said the trends Cook pointed to were obvious to anyone outside the Cupertino bubble. “Apple failed in the No. 1 mission of being a public company: being honest with investors about its business,” she concluded. “The company simply denied the reality that was staring it in the face, until denial was no longer an option.” At Yahoo Finance, Brian Sozzi said Cook now had “a major credibility problem” with investors. Daniel Ives, a Wedbush Securities analyst known for his bullish takes on Apple, titled his note to investors: “Apple’s Darkest Day in the iPhone Era.”"

"we don't resist multiple cross-product responsibility. We don't have problems blending short-term performance with long-term growth and development. And so far, we're not obsolete because the difference between those timid, failing companies and Bloomberg is people-from top to bottom."

"If you have to compete based on capital, the giant always wins. If you can compete based on smarts, flexibility, and willingness to give more for less, then small companies like Bloomberg clearly have an advantage."

""Sounds like this guy Bloomberg is doing to financial information what American Airlines and United Airlines electronic reservations systems have done to the travel business: become influential by getting everybody hooked onto their data. ""

"Every significant advance I or my company has ever made has been evolutionary rather than revolutionary: small earned steps-not big lucky hits."

"From John D. Rockefeller to Sam Walton (and ultimately to Mike Bloomberg, I hope), great financial success comes from starting businesses with concrete products in the real world, building jobs, creating value, and helping people."

"It still capitalized on our cross-branding policy of naming everything Bloomberg where recognition for any one product spills over onto all others."

"Take Your Questions to the Experts I use a three-part methodology for my research: I educate myself on the industry as thoroughly as possible, compile a list of questions that matter, and then do my best to get in front of the most knowledgeable experts I can find on each topic. It’s not a perfectly linear process, because more questions arise as I continue my research, but that’s the basic structure. I start by reading everything I can get my hands on—journals, periodicals, newspapers, trade publications, employee reviews on web-based recruiting sites, you name it. I look at all the websites and social media of the major players and the up-and-comers in the industry. I set Google Alerts for industry CEO names or other keywords, and I watch lots of YouTube interviews with CEOs. I also use paid services like Bloomberg, AlphaSense, and Thomson Reuters. In addition, I look at analyses from sell-side and buy-side analysts and search the SEC database—www.sec.gov/edgar—which has large amounts of information on every publicly traded U.S. company, including IPO documents, financial reports, and proxies. I also scope out the most valuable industry conferences and attend them if I can. Events like the Wall Street Journal’s The Future of Everything Festival and the Consumer…"

"At the book presentation in Berlin, such questions are not asked, nor is Karstadt a topic. Most seem to know that Berggruen is not at home in the world of corporate management, the restructuring of companies. Or as Berggruen himself once said to the American news channel Bloomberg: "I realized pretty early on that I would probably be a terrible manager.""

"The general assessments of the real estate sector's situation are, of course, known to the Single Supervisory Mechanism. However, at a meeting of the body towards the end of 2022, there was also specific discussion about René Benko's Signa. The rapid growth of the group, the company's lack of transparency, and critical media reports prompted the banking supervision to take a very unusual step. It was decided to ask banks in the eurozone exactly how many loans they had issued to Signa, how well they were secured, and whether they could absorb a potential default of payments. Usually, the ECB and BaFin do not inquire about lending to a specific company, but rather they ask more generally. It would have been appropriate to review the burden of lending to the entire real estate sector, especially since there were and are other shaky candidates. But evidently, the SSM wanted to send a clear warning signal and put a big question mark behind Signa's creditworthiness. Because with their inquiry, the supervisory authorities must have been aware that it would halt the flow of credit to Signa, which it desperately needed. No bank can afford to upset the regulators. Officially, the ECB does not comment on this, supposedly due to confidentiality obligations. In response to a query from a member of the Bundestag in November 2023, the then-chairman of the ECB's Supervisory Board, Andrea Enria, only generally indicated that since 2018, there had been several audits concerning credit risks in the commercial real estate sector. This was part of "a more comprehensive set of measures in relation to vulnerable sectors, including the real estate sector." Obviously, the review of the Signa loans was more than just one of many. Once the ECB had received the results of their survey, it decided to take a second step: it pushed several banks to either partly write off loans to Signa or to make additional provisions for potential losses. This was reported by the news agency Bloomberg in the summer of 2023. The very specific signal that Lagarde, Enria, his colleagues, and his female colleagues sent was clearly received. Since the beginning of 2023, Benko could hardly obtain new bank loans – which is devastating for any real estate company because nobody builds with equity alone. In relation to the public and his shareholders, Benko kept quiet about the bank blockade initially. Outwardly, business continued as usual. The facade of all the buildings in "irrecoverable locations" (quote Benko) was still standing, and the company continued to build – albeit on sand."