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    The January 6 committee will meet with former Overstock CEO Patrick Byrne behind closed doors at the end of this week, it was reported Tuesday. Byrne is a close ally of Donald Trump's and was present at a White House meeting on December 18 in which the then-president and a group of formal and informal advisers discussed ways to overturn the 2020 presidential election results, CNN reports. He was forced to step down from his position as chief executive of the online furniture store in 2019 after disclosing that he was romantically involved with a woman who was convicted of being a Russian spy, Maria Butina.  The December 18 meeting will be a focus of Tuesday afternoon's hearing for the House select committee investigating the January 6 attack on the US Capitol. There are reportedly no parameters set for Byrne's Friday meeting with lawmakers. DailyMail.com has reached out to the January 6 committee for confirmation.  The committee's normal process involves a closed-door deposition as its first step before any possible consideration of a public hearing.  Tuesday's report does not make...
    More than 1,500 employees have left one of the biggest real estate data firms in the country over the past year, and many say the 'ruthless' CEO created a toxic work environment where he openly favored young women while ridiculing others, and even pointed a gun at an executive during a Zoom call.  In interviews published by Insider, former employees each had their own horror story to tell  and claimed it was a workplace where humiliation and surveillance was common, specifically by CEO Andrew Florance. Florance, 58, who started CoStar in the basement of his father's Washington, D.C. home, has been credited with the company's growth. But former employees say his leadership styled paired with the pandemic has caused discontent in the company and sparked a mass exodus.    Insider reported that 1,546 workers departed the $27 billion company in 2021 — more than double the 638 who left in 2020. Employees' discontent with the company was also apparent in the form of memes on an Instagram account that mocks the company, many of them referencing their own experiences.  One former employee, who...
    New York (CNN Business)Peloton is reportedly replacing embattled CEO John Foley and cutting about 20% of its corporate workforce to help reinvigorate the flailing fitness company.The Wall Street Journal reported Tuesday that Foley, Peloton's CEO since he co-founded the company about a decade ago, will soon become executive chair. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will reportedly become its CEO and president of Peloton's board. The company will lay off about 2,800 employees in corporate positions, a move that Foley hinted at a few weeks ago. The Journal added that the cuts wouldn't affect its popular roster of instructors or fitness content. Peloton didn't immediately respond to CNN Business' request for comment. Foley told the Journal that the company is "open to exploring any opportunity that could create value for Peloton shareholders," but declined to comment further on changes. The Journal added that its board of directors will get a shakeup, including two new directors: Angel Mendez, a former executive at Cisco (CSCO), and Jonathan Mildenhall, a former chief marketing officer at Airbnb. Read MoreThese...
    A former spokesperson for President Barack Obama's Treasury Department is calling for Facebook CEO Mark Zuckerberg to resign after more revelations have been made public about the company's failure to stop disinformation. Kara Alaimo, now serving as an associate professor in the Lawrence Herbert School of Communication at Hofstra University, claims that Zuckerberg 'has done little to try to fix' the problems with the social media behemoth. A new whistleblower affidavit submitted by a former Facebook employee accuses the social media giant of prioritizing profits over their due diligence to combat hate speech, misinformation and other threats to the public.  The new allegations, submitted anonymously under penalty of perjury, echoed the claims made by fellow whistleblower Frances Haugen, who delivered a scathing testimony before Congress this month on Facebook's moral failings. Kara Alaimo, now serving as an associate professor in the Lawrence Herbert School of Communication at Hofstra University, says that the first step to fixing problems at Facebook would be for CEO Mark Zuckerberg to resign Zuckerberg, who founded Facebook, has a net worth is $122 billion, making him...
    Ubisoft has once again been in the middle of a controversy over misconduct situations within the company. On this occasion, the accusation comes from France with the presentation of a complaint for “institutional harassment” against the firm itself, and also against specific figures such as Yves Guillemot, CEO and co-founder. According to Kotaku, the accusation was brought before the Bobigny criminal court, on behalf of two former Ubisoft employees and the Solidaires Informatique union. In fact, said entity confirmed the complaint with a statement published through its Twitter account. The video game publishing firm was already in the eye of the storm last year for situations of racism, sexual harassment and sexism. This caused the departure of both developers and executives; however, many employees have been angered by the continuation of various managers responsible for the misconduct that was made public. According to the presentation, the complaint does not only fall on Ubisoft as a company and Guillemot as a visible face. It also impacts former chief creative officer Serge Hascoët, former editorial vice president Tommy Francois, and former human...
    Biden coronavirus advisers nix national U.S. lockdown Abuse of the rule of law: 1,000 ex-judges, legal experts slam Trumps false claims of voter fraud SEC charges Wells Fargos former CEO and top executive for misleading investors over success of its core business © Win McNamee/Getty Images John Stumpf, former Wells Fargo CEO and Chairman. Win McNamee/Getty Images The Securities and Exchange Commission charged former Wells Fargo CEO John Stumpf together with another top executive on Friday for intentionally misleading investors over the US bank's core business. Carrie Tolsted, former community bank chief, is said to have known that a key selling metric was inflated, but used it as a measure of success anyhow. Stumpf is said to have signed and certified documents with the SEC in 2015 and 2016 when he should have known they were misleading. The former CEO has agreed to pay a $2.5 million penalty, and the regulator will litigate fraud charges against Tolstedt in court. Visit Business Insider's homepage for more stories. The US SEC has charged former Wells Fargo CEO John Stumpf...
    New York (CNN Business)McDonald's investigation into the behavior of its former CEO includes whether he covered up the improprieties of other employees, a company spokesperson said Wednesday. The company is also investigating allegations of possible misconduct within its human resources department, the spokesperson said. The Wall Street Journal first reported the news on Tuesday. When McDonald's cut ties with then-CEO Steve Easterbrook last year, it said he had "demonstrated poor judgment involving a recent consensual relationship with an employee," and fired him without cause. But in July, according to the company, it received an anonymous tip alleging that Easterbrook had engaged in other relationships. That prompted the new investigation.McDonald's is continuing to investigate its former CEO Steve Easterbrook. "The Board will follow the facts wherever they may lead," the company said in a statement emailed to CNN Business on Wednesday. "We will continue to make changes, where necessary, to support all parts of our organization." Read MoreEasterbrook's lawyer did not immediately respond to a request for comment. The recent investigation into Easterbrook has prompted the company to sue him for...
    New York (CNN Business)McDonald's former CEO Steve Easterbrook is fighting the company's attempt to claw back his severance package.Earlier this month, McDonald's sued Easterbrook, whom it ousted in November after the board determined that he'd violated company policy by engaging in a consensual relationship with an employee. In the suit, McDonald's alleged that he had lied to internal investigators about the extent of his relationships with employees and asked that he be forced to return the money as a result. Easterbrook was promised 26 weeks of severance pay, which at the time amounted to about $42 million, according to an estimate by outside firm Equilar. In a court filing Friday, Easterbrook's lawyers argued that McDonald's doesn't have grounds to claw back the severance package. McDonald's former CEO Steve Easterbrook wants the company to drop a lawsuit they filed against him.In the company's lawsuit against Easterbrook, it alleged that he misled the board about his relationships with employees when speaking with investigators before he left the company last year. McDonald's lawsuit states that the company was tipped off to other...
    New chapter in the scandal of Wirecard. Markus Braun, a former CEO of the German payment services firm Wirecard, has been arrested by agents of the Munich Prosecutor’s Office on suspicion of inflating the company’s balance sheet and presenting false information. Braun appeared yesterday night voluntarily at the offices of the Munich Prosecutor’s Office where he was arrested and will be brought before the investigating judge on Tuesday to decide on the duration of the detention, according to the Prosecutor’s Office. Bavarian authorities accuse the executive of, possibly in cooperation with other actors, allegedly having simulated the entity’s revenue to inflate Wirecard’s business and present more attractive financial information to investors and clients. Investigations focus on alleged bank balances in trust accounts with two Philippine banks for more than 1,900 million euros, that the Wirecard board has admitted that “with a high degree of probability they do not exist”. Markus Braun presented last Friday his resignation “With immediate effect” as CEO of the German payment services firm Wirecard, affected by an accounting scandal after detecting a “hole” in € 1.9...
    Munich prosecutors verified Tuesday that Braun, Wirecard’s previous CEO, was arrested on suspicion of getting inflated the digital payment company’s harmony sheet and revenue by pretend transactions in order to make it additional beautiful to buyers and consumers. Prosecutors reported that Braun may possibly have acted in cooperation with other perpetrators.Wirecard (WCAGY) acknowledged on Monday that €1.9 billion ($2.1 billion) in dollars involved in economic statements — or about a quarter of its assets — likely hardly ever existed in the first position. The organization withdrew its preliminary outcomes for 2019, the very first quarter of 2020 and its income forecast for 2020. The scandal erupted last week when Wirecard reported that its auditor, EY, could not locate the funds in have faith in accounts and refused to signal off on the company’s monetary benefits.Braun resigned as CEO on Friday, suggesting the firm may perhaps have been the sufferer of a large fraud. Jan Marsalek, a board member and main running officer at Wirecard, was fired on Monday. Started in 1999, Wirecard was as soon as deemed just one of...
    London (CNN Business)Markus Braun, the former chief executive of Wirecard, has been arrested in Germany after $2.1 billion went missing at the digital payments company. Munich prosecutors confirmed Tuesday that Braun was arrested on suspicion of possibly having inflated Wirecard's balance sheet and sales through fake transactions with third parties in order to make the company more attractive to investors and customers.Wirecard says missing $2 billion never existed. Its stock is down 85% in 3 daysWirecard (WCAGY) acknowledged on Monday that €1.9 billion ($2.1 billion) in missing cash, which made up roughly a quarter of its assets, probably never existed in the first place. The company withdrew its preliminary results for 2019, the first quarter of 2020 and its profit forecast for 2020.Braun resigned as CEO on Friday, suggesting the company may have been the victim of a massive fraud.Founded in 1999, Wirecard was once considered one of the most promising tech firms in Europe. It processes payments for consumers and businesses, and sells data analytics services. The company has nearly 6,000 employees in 26 countries around the world.Read MoreThis...
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