H&M teaches a lesson on apology sincerity, Goldman strategists say Bitcoin could succeed as form of real money.
This H&M Misstep Says A Lot About The Power of Ownership
H&M recently came under fire after a product image on the brand’s UK site used a black child to sell a hoodie that says “coolest monkey in the jungle.” H&M swiftly apologized, saying “We sincerely apologize for offending people with this image of a printed hooded top." This initial apology commits one of the most egregious apology errors and highlights the difference between saying “I’m sorry for what I did” and “I’m sorry if you feel badly.” On Wednesday, H&M sent a longer apology to its media list, opening with the stark statement: Our position is simple and unequivocal—we have got this wrong and we are deeply sorry.”
Execs From Shamed Companies Receive Less in Future Pay
Harvard Business School
What happens to executives who have that employer’s name on their resume? A recent study analyzed how corporate scandals affect executives by examining how they are penalized in starting pay when looking for new work. After controlling for education, gender, experience, and other factors, researchers found that executives from shamed companies received cash compensation in the form of salary and bonus that were, on average, nearly 4 percent lower than those without a stigma on their CV.
Do These 5 Things to Catch a Retirement Mistake
If you have retirement accounts, you need to think about how that money is going to get distributed, and how that fits into your overall estate plan. Review IRA beneficiary forms, update 401(k) forms, create a financial power of attorney, check your Social Security earnings history, and go digital by signing up for online accounts at your bank, brokerage, and any workplace retirement account providers.
Bitcoin Could Succeed As Real Form of Money in Developing Countries
Two Goldman Sachs strategists wrote in a report Wednesday that, “in those countries and corners of the financial system where the traditional services of money are inadequately supplied, Bitcoin (and cryptocurrencies more generally) may offer viable alternatives.” The report also warned that if digital coins become a widely used form of currency, investors shouldn’t expect the astronomical returns that have recently drawn unprecedented attention to the world of cryptocurrencies.
How Not to Network
Networking is a skill we all want to master. Try to avoid talking about yourself or name dropping, don't stick with the same people or use a friend as a crutch, don't speak negatively about people, and be clear when you send a follow-up email. Don’t waste your time sending an email to your professional connection that doesn’t show how they can help you specifically.