Top 10 Most Admired for financial soundness 2009
What do you think of the corporations on Fortune’s Most Admired Companies for financial soundness list? Have you worked for any of these companies, or bought their products or services? Which — if any — companies to you admire most for their financial strength? Tell us what you think. The best replies will be published here, and possibly in a future story on CNNMoney.com.
World’s Most Admired Companies 2009
What do you think of the corporations on Fortune’s World’s Most Admired Companies list? Have you worked for any of the companies, or bought their products or services? Which — if any — companies do you admire in this economy? What makes a company admirable – social responsibility, excellent talent, sharp marketing, smart managers, or just plain profits? Tell us what you think. The best replies will be published here, and possibly in a future story on CNNMoney.com.
World’s Most Admired Companies 2009: No. 1
What do you think of the No. 1 company on Fortune’s World’s Most Admired Companies list? Should they be No. 1? Have you worked for the company, or bought its products or services? Which - if any -companies do you admire in this economy? What makes a company admirable – social responsibility, excellent talent, sharp marketing, smart managers, or just plain profits? What companies do you admire most? Tell us what you think. The best replies will be published here, and possibly in a future story on CNNMoney.com.
Using your contacts without making them feel used
If there were ever a more important time to network, I can’t remember it. I’ve been to so many going-away parties in the last few weeks that I’m starting to wonder what I’m still doing here. People who thought they’d played it professionally safe — bankers, lawyers, significant others of bankers and lawyers — are suddenly finding themselves among the nation’s growing jobless. And even those who remain gainfully employed are hoarding their cash, certain they’ll be the next to go.
So we young people do what any sane person would do: We spin the old mental Rolodex. We note all the people who don’t hate us and might be of some use. And then we send messages that read something like this:
Hey, Person I Need!
Long time no talk! How are you?! Sorry I haven’t written you in 17 years — boy have I been busy — but here’s some contrived anecdote to show I’ve been thinking about you. Thought you’d like to hear these few random things that are going on with me, too. Oh, by the way, I was thinking you could hire me/refer me/help me in some other way I’ve been generous enough to dream up for you. And since I’m sure you’re dying to read my resume, it’s attached. Totally can’t wait to catch up!
Sincerely,
Most Transparent Jobseeker Ever
If that sounds extreme, believe me, it’s not. I have, in fact, received a number of notes not unlike this myself in recent weeks. And for the record, it isn’t that I wouldn’t be happy to help if I could. It’s just that the approach is so completely disingenuous that it’s actually detrimental to the person’s cause. (And we Yers tend to be more prone to it because of our sometime lack of social graces, the quick and familiar way we communicate, and the broad if not deep virtual networks we’re able to maintain.)
As understandable — and essential — as the urge to work one’s connections is in times like these, there’s still an art to doing it. It’s rooted in basic common sense and good manners, and it applies in every situation, whether you’re sending an e-mail, Facebook message, smoke signal, singing telegram, or (gasp) letter. So, in the interest of maintaining our networking dignity, here are a couple suggestions for reaching out the right way…
- Be honest — no, really. It’s important that any networking note we write contains the usual niceties (a “hope you’re doing well,” and some punctuation, for example), but don’t overdo it. When we try too hard to be all “great”s and giggles — especially in an attempt to obscure the fact that we want something — it usually has just the opposite effect. Not only does it draw attention to our self-serving motives, it can also be fairly insulting to the intelligence of the recipient. Why not, instead, try telling the truth? “I know it’s been a long time,” you might say, “but I recently started looking for a new job and, since you’re one of the people who’s offered help in that arena over the years, I thought I’d check in.” (And if the person’s a legitimate friend, a light-hearted nod to the awkwardness often diffuses any tension: “I’m so sorry you’re only hearing from me now, when I need you, but I hope you won’t hold it against me forever.”) It’s nothing revolutionary, but with trust in short supply these days, a little sincerity goes a very long way.
- Ask for advice, not a gig. It’s never really proper to ask for a job outright unless you’re in an actual interview. But with the job market in the state it is, and everyone worried about their own job, it’s particularly poor form right now. Some people may not even respond to you if they feel pressured to produce a possible job or broker an introduction, so focus your energy on seeking out good advice, insights, and resources. If, for instance, there’s a job you’re interested in at an acquaintance’s company, write to ask what s/he thinks of the department, not to look for the hookup. This tack is flattering — after all, who doesn’t like the idea that their perspective might be valuable? — and it puts you in the positive light of a potential protégé or close colleague, someone that your contact may think of (fondly, and maybe even first) should a job prospect arise. This way, if they have a post or person to share with you, they can do so on their own terms. And if all they have to give you is a few words of wisdom, at least they know that’s worthwhile to you, too.
- Do not attach your resume. And for that matter, don’t attach any other representations of your wonderfulness that are likely to lock up people’s inboxes, even if you’re sure they like you. Not only can it seem presumptuous, it also looks a bit desperate. Even if you’re posting to a group of friends about your job search, it’s much more effective (not to mention safer) to just include a few sentences about what you’re looking for and what you’ve done, rather than giving them your entire work history, which they’re not likely to read anyway. As a rule, re-establish contact first, then ply with documents.
- Facebook doesn’t change anything. In our age of social networking, it can be tempting to use the relaxed attitude of tools like Facebook to take the work out of networking. It’s so easy now to just “friend” a person you haven’t talked to in years — without so much as a, “Remember me from high school?” — then hit them with the old, “I really love your company, so…” But take it from me, that isn’t going to be received any better by a Facebook friend than it would be by anyone else. Even on the Web, people know when they’re being used, and they don’t like it. So apply the same amount of courtesy and concern there as you would everywhere else.
- Show a little gratitude. Remember that everyone, from the C-suite all the way down, is under pressure right now. So thank them for their time, and if they make an effort to respond, even if they don’t say much, realize it means something — and say so. Not just because it’s the right thing to do, but because it fosters a continuing relationship. We’re so connected, and it’s so easy to maintain those connections in today’s world, that there really is no excuse not to build and nurture as many substantive relationships as you can. (And just to be clear, by substantive, I don’t mean poking and gifting, but actual communication, like with words.) That may seem like a big investment of time for not very much immediate return — and goodness knows many of us really need the return at the moment — but trust me, you just never know.
Tough moments for Obama offer lessons for Yers
It seems so obvious to write about President Barack Obama right now, whether you’re a fan or not, that I think I’ve been avoiding doing it. I was in Washington, D.C., on Inauguration Day. I saw the camaraderie of the crowds. I watched in amusement as CVS clerks and CPK waiters tried their best to cope. I hummed along as Wyclef Jean sang a sweet but less than Grammy-worthy freestyle presidential tribute. I applauded the honesty of the Inaugural address, I held my breath as the new President got out of the car, and I thanked goodness that no one had gone tiger, in the words of the immortal Chris Rock, in this capitol circus. And as the first blush of love faded — confirmation hearings will do that to any relationship — and the real work of rebuilding began, I hoped that the young people who’d been so energized by “Yes We Can” wouldn’t be enervated by “Yes We Did That Already, And Now We Have To Do All The Other Way Tougher Stuff For Which There Will Be No Uplifting Slogans.”
Then Superbowl Sunday came around, and President Obama — chatting with Matt Lauer and smiling that easy smile of his — put my fears to rest. As my friend put it, “It’s kind of amazing to have a President who can say ’shoutout’ credibly.” Don’t get me wrong: His vetting game is clearly far from airtight, and I, unlike him, have never been a huge fan of Steeler football. But what stood out about the President that day — and more recently, when he admitted he “screwed up” with the Tom Daschle nomination, and even when he called Wall Street bonuses “shameful” last week — is that he can and will talk to us, about subjects heavy and light, and in a voice we can both relate to and respect. (After all, his shoutout wasn’t to his boys back home; it was to the troops.) It may be calculated — and it probably is — but I for one appreciate a little strategic thinking in my politicians. And if they use it to keep me in the loop, all the better.
What may be even more striking, though, is Obama’s seeming desire to behave both like what I imagine a President ought to be and like the nice, cool, more or less sincere young man about campus I’m always hoping the President was at some long lost time in his life. It’s no small feat to be both youthful and presidential, and it’s even harder when you’re admitting mistakes and promising fixes. But what it communicates, whether the President means to or not, is that — for the generation of young people who will call Obama a role model — you really can do it your way. Yes, we all have to be accountable and work hard, for instance. But who’s going to have to work harder or be more accountable than Obama will? And if he can still tell jokes and enjoy a good game while he’s doing it, well, maybe we can, too.
All of this — the dialogue, the insight, even the inspiration of a grown-up guy with just about the hardest job around laughing like he means it — fosters an inclusiveness that is ultimately more empowering for young people at this moment than “Yes We Can” could ever be. Because now we are part of a conversation that’s happening not on the fringes, but in the most hallowed halls of power. And we’re talking to a man who, whatever you think of his politics, seems willing to listen.
100 Best Companies to Work For: Most Hiring
What do you think of the top employers that are hiring most? Would you want to work for one of them? Is your company hiring? Are you looking for a new job? Tell us what you think.
Google the good in Q4
By now the headlines already will have covered the basics. Google’s (GOOG) fourth-quarter revenues were up 18% to $5.7 billion, a solid showing. Profits fell, but only because Google wrote down loser investments in AOL, a unit of Fortune parent Time Warner (TWX), and Clearwire, the Wimax company that’s also an embarrassment to Motorola and Intel (INTC). On a day that Microsoft’s (MSFT) stock tanked by 12%, once again Google comes up smelling like roses. Not super fragrant roses. But roses all the same.
Google believes it is doing well because scarce advertising dollars continue to flow to search and because it keeps improving its search engine. (Google made 300-plus search-quality improvements during 2008, says the company’s product pooh-bah Jonathan Rosenberg.) Microsoft, in comparison, can’t shoot straight online. Earlier in the day the company reported that its online unit’s operating loss had doubled to $471 million on flat revenue.
Google’s got almost $16 billion in cash now, compared with $28 billion for Apple (AAPL) and about $21 billion for Microsoft (which has given back oodles to its shareholders in the form of special dividends). Google ended the year with 20, 222 employees (one of whom is my wife), up about 100 people from the previous quarter. That’s a sea change for the company that previously couldn’t recruit people fast enough. (Larry Page, who likes to review every hire, must be at least a little relieved by this.)
If there was anything at all notable about Google’s results and comments to investors during an end-of-day conference call, it is the curious prudence that has crept into its collective voice. Google always used to say it was careful about costs and thoughtful about how it managed its resources. That was well understood to be code language for: “We spend willy nilly — wouldn’t you? — and we’re willing to try just about anything. Our core business is that good.”
Things have changed a bit. Credit this with new CFO Patrick Pichette, who has been at Google only six months and is carefully deciding where — and where not — to push. You can hear the tension in his own conflicting statements. “We have a lot of flexibility within our model,” he said Wednesday, meaning Google easily can cut more costs when it wants or needs to. And then, “We are managing this business for the long term. The mindset of the company is a growth company.” That latter comment signals Google will continue to invest and spend on things that may never see a return, just as powerful risk-taking concerns should — despite the professed commitment to prudence.
So where does the more measured behavior manifest itself? I’ve already noted the hiring halt. Capital expenditures declined 19% from the third quarter to $368 million. This is a huge deal in Googledom as capex goes primarily to data centers and other hardware that make the Google search engine hum.
One last item of note. Google is offering employees the opportunity to exchange underwater stock options for newly priced options due to the stock price having been hammered. (The only catch in the exchange is that employees will have to wait an additional 12 months before selling re-priced options.) The stock price is currently around $300, compared with $700 in late 2007. The number of shares eligible for exchange is about 3% of the shares outstanding, and the exchange will result in a charge to earnings of $460 million over a five-year period.
One must re-phrase this last bit in English: Google is transferring almost half a billion dollars in wealth from shareholders to employees, and for what ….? Motivation and retention, says Google. This a well known farce, as old as the Valley, which tells itself first that it offers generous stock options as a form of incentive and then, when share prices plummet, moves the ball so its employees, whose incentives apparently didn’t work (as if the stock price were under their control) can be re-incentivized. Retention? Would someone please tell me where the average Google employee is going to go right now?
In conclusion, and as the headline says, Google is in good shape. Not fantastic. But plenty damn good. It’s also becoming more and more like other technology companies in so many ways.
The Cook Doctrine at Apple
There was a magical moment that had nothing to do with financial results Wednesday afternoon in Apple’s (AAPL) conference call with investors. What made the magic remarkable is that it came from Tim Cook, the supposedly uncharismatic, unemotional, uninspiring chief operating officer of the company, the guy whom Steve Jobs tapped to run day-to-day operations during his medical leave of absence, even though Cook already runs the company’s operations.
Asked the inevitable first question about how the company would function without Jobs, Cook let loose the following, courtesy of Seekingalpha.com, a monologue I’m labeling the Cook Doctrine, that he appeared to deliver extemporaneously:
We believe that we are on the face of the earth to make great products and that’s not changing. We are constantly focusing on innovating. We believe in the simple not the complex. We believe that we need to own and control the primary technologies behind the products that we make, and participate only in markets where we can make a significant contribution. We believe in saying no to thousands of projects, so that we can really focus on the few that are truly important and meaningful to us. We believe in deep collaboration and cross-pollination of our groups, which allow us to innovate in a way that others cannot. And frankly, we don’t settle for anything less than excellence in every group in the company, and we have the self-honesty to admit when we’re wrong and the courage to change. And I think regardless of who is in what job those values are so embedded in this company that Apple will do extremely well.
This is fascinating at a number of levels. Some of it is stuff you’d expect from anyone in Apple’s senior management. Some ideas have been articulated at Apple for years. But this shows an executive who has given tons of thought to what it means to lead Apple. He couldn’t have been clearer that he’s in charge, at least for now. It also was a show of strength, as when Cook later threatened Palm (PALM) with patent litigation.
It raised so many questions too. Other than the company’s proprietary operating systems, what technologies was Cook referring to? What are some projects Apple has considered and rejected? When has the company been wrong — and been “self-honest” about it? What’s an example of the culture being so embedded that things work, even when Jobs isn’t involved?
There is so much to learn about Apple that frankly has been obscured for so long by the cult of personality around Steve Jobs. As Cook said before beginning his series of “We believes,” it’s a place with a deep bench. Yet few have heard of the supporting cast memebers, in part for fear of their being poached, in part because its always been all about Steve.
What’s clear is that Apple’s current leader — whom I’ve admittedly spent a lot of time thinking about – is eloquent, forceful and passionate about Apple. He may be a just-the-facts operations wonk with little experience in design, marketing for products. But he’s clearly so much more as well.
100 Best Companies to Work For: Unusual Perks
What perks do you wish your company offered? Post your thoughts here.
100 Best Companies to Work For: Best Benefits
What do you think of the companies on the Best Benefits list? Do you wish your company offered such perks? Would you take advantage of them? Does your company offer benefits like this – or even better ones? Are benefits a big factor you consider when deciding whether to switch jobs? Tell us what you think. The best replies will be published here, and possibly in a future story on CNNMoney.com.
- The world’s largest companies
- 100 Top MBA Employers 2009
- 2009 Fortune 500: Who’s no. 3
- 2009 Fortune 500: Who’s in second place
- 2009 Fortune 500: Full list
- 2009 Fortune 500: Who’s No. 1
- GE Capital afternoon session
- GE Capital morning session
- GE brings its books to light
- World’s Most Admired Companies: Top 50
- With 163 companies, it turns out the ... More
- Dear L. Smith: The company to whi... More
- Dear Gert: We've corrected that ... More
- For the people that ask why Saudi Amr... More
- As much as SEVEN companies in the top... More
- I'm always frustrated by the constant... More
- Google Maps shows Toyota in the Nethe... More
- The top six companies making the... More
- Lets go back to horses. Watch these ... More
- "Profit in $ is almost meaningless…... More



