Nov 14, 2019

Common sense arrives on Wall Street

The financial crisis saw bank CEOs engaging in some extremely dangerous activities. For instance, Andrew Ross Sorkin recounts a fraught journey by Morgan Stanley CEO John Mack in his book, "Too Big To Fail."

Background: Mack had been summoned from his office in Times Square to the New York Fed, and so he jumped into his chauffeur-driven Audi, only to find it stuck in traffic on the West Side Highway.

  • Mack's driver, a former police officer, beat the traffic by "speeding" down a separated bike lane that runs along the Hudson River instead.

Goldman Sachs CEO David Solomon knows that it would have been quicker still for Mack to have just jumped on a subway from midtown. (Or, if he wanted to borrow a move from Michael Bloomberg, get his driver to drive him to the 4 train.)

  • Although some of his board members are reportedly horrified, Solomon tells Fortune that he regularly travels by the most efficient means available. "Why wouldn’t you take the subway?” he told reporter Jen Wieczner. “It’s quicker and more efficient."

Go deeper: CEOs are America's new politicians

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Updated 17 mins ago - World

In photos: People around the world rally against racism

Despite a ban on large gatherings implemented in response to the coronavirus pandemic, protesters rally against racism in front of the American Embassy in Paris on June 6. Photo: Julien Mattia/Anadolu Agency via Getty Images

Tens of thousands of people have continued to rally in cities across the world against racism and show their support this week for U.S. demonstrators protesting the death in police custody of George Floyd.

Why it matters: The tense situation in the U.S. has brought the discussion of racism and discrimination onto the global stage at a time when most of the world is consumed by the novel coronavirus.

Updates: George Floyd protests enter 12th day

Protesters in Washington, D.C. on June 6. Photo: Samuel Corum/Getty Images

Thousands of demonstrators are gathering in cities across the U.S. and around the world to protest the killing of George Floyd. Huge crowds have assembled in Washington, D.C., Philadelphia and Chicago for full-day events.

Why it matters: Twelve days of nationwide protest in the U.S. has built pressure for states to make new changes on what kind of force law enforcement can use on civilians and prompted officials to review police conduct.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 6,852,810 — Total deaths: 398,211 — Total recoveries — 3,071,142Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 1,917,080 — Total deaths: 109,702 — Total recoveries: 500,849 — Total tested: 19,778,873Map.
  3. Public health: Why the pandemic is hitting minorities harder — Coronavirus curve rises in FloridaHow racism threatens the response to the pandemic Some people are drinking and inhaling cleaning products in attempt to fight the virus.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model.
  5. Business: Budgets busted by coronavirus make it harder for cities to address inequality Sports, film production in California to resume June 12 after 3-month hiatus.
  6. Education: Students and teachers flunked remote learning.