FEI Weekly

January 18, 2018

BlackRock's message to CEOs, how AI can help women in the workplace, and why accounting firms should hire retirees.

Apple to Pay $38 Billion in Taxes on Overseas Profits

Reuters

Apple on Wednesday said it will make about $38 billion in tax payments on its overseas cash. The company has $252.3 billion in cash abroad and previously had set aside $36.3 billion in anticipation of tax payments on its foreign cash, meaning the payment would not represent a major impact on its cash flow this quarter. Apple did not indicate how much, if any, of its cash it would actually bring back to the U.S.

BlackRock’s Larry Fink Wants CEOs to Focus on Societal Responsibility

Vox

Larry Fink, the founder and chief executive of investment firm BlackRock, wrote a letter to the CEOs of the companies in which his more than $6 trillion firm invests encouraging them to consider the societal implications of their business decisions and to focus on their long-term plans. BlackRock is the largest investment management company in the world and has traditionally been a passive investor, doing little to pressure the leaders of the companies in which they’re invested. Fink has historically been critical of activist investors but has begun to soften his stance.

Will AI Help Women in the Workplace?

MIT Sloan

Whether you believe that men and women have different types of brains or that gender differences are a result of cultural norms and conditioning, the real-world results are similar: Men and women, on average, excel in different dimensions and take on different roles in the workforce. Artificial intelligence is beginning to replace many of the workplace roles that men dominate and the parts of those jobs that will have staying power are those that rely more heavily on emotional intelligence, like empathy, compassion, influence, and engagement — skills in which women typically excel.

This Accounting Firm Hires Retirees For Some Great Reasons

WSJ - Paywall

While most top accounting firms require partners to exit between the ages of 60 and 66, PKF O’Connor Davies LLP, instead seeks out and hires senior accountants who have aged out at other firms. Bringing on senior accountants has helped the firm expand into new practice areas and improve training and mentoring, Christopher Petermann, a partner who sits on PKF’s management team and human resources committee, says. Its older hires bring with them a lifetime of contacts and expertise.

The Business Books You Should Read This Year

Inc.

If your New Year's resolution is to read more, look out for these business books publishing in 2018. From books about Netflix's people practices, to the power of dissent, to disruptive innovation, this list of ten soon-to-be-published books is sure to inspire you in the coming year.