The Microsoft Board of Directors made it official: A Microsoft insider will now run the company. As has been telegraphed in recent days, the new CEO is 46 year old Satya Nadella, who's been running Microsoft's so-called Cloud Services. Colin Gillis, senior technology analyst at BGC Partners, joined us to discuss the move.
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President Hamid Karzai has balked at signing a security agreement with the U.S. According to The New York Times, representatives of the Taliban and Karzai have been in contact about a peace deal. It's thought Karzai may not want to sign the deal with the U.S. while he's talking to the Taliban.
There's word this morning that a long-time Microsoft man will become the company's new chief executive, Satya Nadella. Founder Bill Gates is stepping down as chairman, but he'll still be around, as a resident technology expert. Significantly, the outgoing CEO, Steve Ballmer will stay on the board. In a statement, 46 year old Nadella said "The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform."
Robert Bontempo, a professor at the Columbia Business School, joined us to discuss the move. Click play above to hear more.
Satya Nadella has been with Microsoft since 1992. Most recently, he led the company's "cloud and enterprise" group. Bill Gates, Microsoft's co-founder, will no longer be the company's chairman. He's going to be a "technology adviser" to Nadella.
America's new health insurance system, while improving, is still not up to snuff. And the rate of people signing up for coverage in the new insurance marketplaces is still lower than forecast. But one thing that has gotten lost in the debate around healthcare are signs that the costs of care, healthcare inflation, might just be moderating. Marketplace's economics guy, Chris Farrell, joined us to discuss.
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He's hyper-educated and his background is in the cloud. Learn more about the Indian-American Microsoft veteran who became the third CEO in the company's 38-year history.
After dropping two and a quarter percent yesterday, the S&P 500 will start the day down nearly six percent for the year so far. The Dow is down 7 percent since New Year's eve. We talked to Sam Stovall, Chief Equity Strategist at S&P Capital IQ for a consultation.
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Today on Capital Hill, the Financial and Contracting Oversight Subcommittee is holding a hearing on a massive criminal investigation related to an Army National Guard program called the Recruiting Assistance Program. After handing out more than $300 million in referral bonuses, there are allegations of widespread fraud within the Army.
The program was created back in 2005. There weren’t enough soldiers to meet the demands of Iraq war so the Army created the program boost recruitment by dolling out bonuses ranging from $2,000 to $7,500 for referrals.
Official army recruiters were not eligible for bonuses. But many are accused of using someone else’s name to sign up for the program. Other officers allegedly used the names of people who were already enlisted to collect bonuses
In 2007 the company that the Army contracted to run the program, Docupak, alerted the Army to suspected cases of fraud but it appears that neither the Army nor the contractor had a system in place for preventing officers from claiming fraudulent bonuses.
The program was cancelled in 2012. There are at least 200 officers who remain under investigation. One guardsmen Xavier Aves was already convicted in June and sentenced to 57 months in prison after scamming the system for $244,000. This whole investigation is expected to drag on through 2016.
This week, the wearable tech company Pebble launched it's app store, offering downloads like Yelp notifications that will appear on your smartwatch. But there's a problem: Battery life. As wearable technology grows, our battery power will need to grow too.
We talked to our friend at CNET Lindsey Turrentine for some perspective. Click play above to hear the interview.
Most economists say factories are hiring fewer people because workers are so much more productive now, so you don’t need as many. And workers are now using very sophisticated tools.
“If you cut something perfectly to plan with a laser, you don’t have to smooth off the edges with a file in order to make it look nice," IHS economist Mike Montgomery says.
There are other reasons for the fall in factory work, too, says Scott Paul of the Alliance for American Manufacturing, a group formed by manufacturers and the United Steelworkers. He says U.S. exports are down, even though we’re officially out of the recession.
“The dollar gains some steam in the aftermath of recessions," Paul explains. "And that makes our exports less competitive. It makes imports a little cheaper.”
Plus, Paul says, the economy is still underperforming. He’d like to see a dose of government stimulus spending, which he says would goose the economy and get factories humming.
Today, the Hang Seng index in Hong Kong fell two point nine percent and Japan's Nikkei fell four point two percent. But it's not just Asian markets picking up a psychological cue from New York. The BBC's Duncan Bartlett has been watching this from Tokyo.
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