November 28 — December 4, 2016 | Bloomberg.Com
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November 28 — December 4, 2016 | bloomberg.com p36 “Why didn’t I tell him to his face, immediately, that this was 1 misogynist, racist, and unprofessional? He was my p42 direct superior” “For any other “Putin’s a celebrity. Donald’s “I’m seeing people a celebrity. … He’s thinking, That smile now, clients of mine, purpose than guy’s a big dog. I’d rather be where I didn’t even know friends with him than one of these paperwork, I consider weaklings like Jeb Bush. That’s just they had teeth. Everyone myself an American” the way he thinks” I talk to is happy” p25 p50 p32 Cover Trail November 28 — December 4, 2016 How the cover gets made ① Opening Remarks Trump’s trajectory may follow those of other elected autocrats 6 “The story is about the Colonial Pipeline, specifically the implications Bloomberg View Don’t bully central banks • The trouble with the president-elect’s ISIS plan 8 of accidents like the explosion in Alabama.” Movers ▲ Weed floats on the NYSE ▼ Cooling Swiss watches and a warming North Pole 11 “The implications are generally good, right? Fire provides warmth, and Global Economics Lord knows it gets chilly this time of year. Trees just take up valuable Modi tries to drain the swamp 12 space, so it’s a quick and easy way to clear some land. And the oil The World Bank’s chief economist attacks the profession 13 industry is stable to the point of Europe braces for the next tremors from Italy 14 being boring. This at least shakes things up a bit.” Factories from everywhere set up shop in Russia 15 “Have you purposefully avoided Charlie Rose talks to Sebastian Mallaby about his Alan Greenspan bio 16 reading the story?” Companies/Industries “I’m just trying to stay positive.” Take 350 designers with no one in charge —and presto!—another sale for Zara 18 To speed up food recalls, Walmart taps blockchain 20 In China, a spoonful of sugar makes the Champagne go down 21 Politics/Policy Even if Donald Trump wanted to give up his business interests, it wouldn’t be easy 22 Obama-era regulators race for the finish line 24 Sizing up the impact if 740,000 Dreamers leave their jobs 25 2 Technology If Elon builds it, the crazies will come 27 Karhoo was said to have $250 million in the bank. It didn’t 28 IBM tries to be the ghostbusters of corporate hacking 29 Chewy (no, not that one) adds an occasional oil painting to its online pet supplies 30 Innovation: A hybrid walker/wheelchair to put activity back into aging 31 Markets/Finance Hillary who? Wall Street and Donald are BFFs now 32 John Paulson’s bet on Fannie and Freddie suddenly looks really smart 33 London closes a door on Europe and opens one to the Chinese 34 Features Alabama Shakes What happens when America’s biggest pipeline explodes 36 Memo to HR: Compliance videos don’t stop sexual harassment 42 King of K Street Paul Manafort never really went away 50 Etc. How brands became obsessed with the color pink 55 Drinks: Eight cocktails for winter nights 58 Workplace: Skirt Club attracts women who want to network (and see where the night takes them) 60 Astrology: December provides an opportunity to rethink long-term goals 61 The Critic: Miss Sloane has a lot to like, but can audiences stomach more politics? 62 What I Wear to Work: The global brand leader for W Hotels isn’t content with just one bracelet 63 COVER AND COVER TRAIL: PHOTO ILLUSTRATION BY JUSTIN METZ JUSTIN BY ILLUSTRATION PHOTO TRAIL: COVER AND COVER How Did I Get Here? Daniel Lubetzky didn’t like his snacking options. Now we have Kind bars 64 Index People/Companies Grillo, Beppe 14 Netflix (NFLX) 44 SolarCity 27 Gucci (KER:FP) 56 News Corp. (NWSA) 25 Sony Pictures Nike (NKE) 22 Entertainment (SNE) 29 Nordstrom (JWN) 44 Space Exploration 36 H Northrop Grumman (NOC) 24 Technologies 27 Protecting the river H&M (HMB:SS) 18 Novartis (NVS) 11 Steinhafel, Gregg 29 Hayes, Tom 11 NPD Group 20 Stone, Roger 51 HR Learning Center 44 NYSE (ICE) 11 Symantec (SYMC) 11 HSBC (HSBC) 12 O I Obama, Barack 22, 24, 25, 38 IBISWorld 44 Oblong Industries 29 IBM (IBM) 20, 29 Off-White 56 Ikea 15 Opimas 32 Inditex 18 Ortega, Amancio 18 Industrial & Commercial Bank of China (601398:CH) 34 Ingham, Anthony 63 P 49 Inkling 44 Pantone Color Institute 56 Clarence Innovative Industrial Pascal, Amy 29 Thomas Properties (IIPR) 11 Paul, Rand 24 Inspired eLearning 44 Paulson & Co. 33 Ishag, Daniel 28 Paulson, John 33 Isla, Pablo 18 Pence, Mike 33, 51 T Perera, Jonathan 62 T. Rowe Price 30 Pershing Square Capital Target (TGT) 11, 29 J Management 33 Tesla (TSLA) 27 Jaitley, Arun 12 Petco 30 Thomas, Clarence 49 J.Crew 56 PetSmart 30 Trump, Donald 6, 8, 11, 14, Jefferies Group (LUK) 34 Pigalle 56 16, 24, 25, 32, 38, 49, 51 Johnson, Abigail 11 Pope Francis 11 Trump, Ivanka 22 Johnson, Edward 11 Prescott, Edward 13 Trump, Melania 56 JPMorgan Chase (JPM) 32, 44 Primark (ABF:LN) 18 Trump Organization 22 Provost, Joe 29 21st Century Fox (FOXA) 44 Putin, Vladimir 6, 8, 14, 51 Twitter (TWTR) 6 K Tyson Foods (TSN) 11 Kaczynski, Jaroslaw 6 Kind 64 QRS 4 Kinder Morgan (KMI) 38 Qatar Investment Authority 34 UVW Kissinger, Henry 16 Quest Integrity 27 U+I Group (UAI:LN) 34 KKR (KKR) 11, 38 Renaissance Capital 15 Uber 28 Klinsmann, Jurgen 11 Rentmeester, Marlien 56 UBS (UBS) 18, 22 Knopf 56 Renzi, Matteo 14 Vadon, Mark 30 Koch, Charles 25 Rokk Solutions 27 Visa (V) 20 Bush, Jeb 51 Cruz, Ted 51 Koch, David 25 Romer, Paul 13 Volkswagen (VOW:GR) 15 A Butler, David 38 Cuomo, Andrew 11 Koch Industries 38 Rove, Karl 51 Vornado Realty Trust (VNO) 22 ABP London 34 CVS (CVS) 11 Kushner Companies 22 Sabra Dipping 11 W Hotels 63 Abramoff, Jack 62 Kushner, Jared 6, 22 Samsung (005930:KS) 15 Walmart Stores (WMT) 11, 20 ABX Air (ATSG) 11 C Sargent, Thomas 13 Walt Disney (DIS) 56 Ackman, William 33 Calsonic Kansei (7248:JP) 11 DEF Savills (SVS:LN) 34 Wax, Gavin 27 Acne Studios 56 Carlson, Gretchen 49 Danler, Stephanie 56 L Scaramucci, Anthony 32 Wells Fargo (WFC) 33 ADP (ADP) 29 Carter, Jimmy 22 Day, Michael 30 L.E. Bell Construction 38 Schumer, Chuck 32 West, Kanye 11 Agricultural Bank of Century Properties DCI Group 33 Le Creuset 56 Schwarzenegger, Arnold 44 Wheeler, Tom 24 China (601288:CH) 34 Group (CPG:PM) 22 Deal, Nathan 38 LeJeune, Geneviève 60 Select Medical (SEM) 31 Willingham, Anthony Lee 38 Ailes, Roger 44, 49 Chanel 56 Deripaska, Oleg 51 LifeLock (LOCK) 11 Selexys Pharmaceuticals 11 Wine Intelligence 21 Al-Assad, Bashar 8 Chastain, Jessica 62 Deutsche Bank (DB) 22 Lockheed Martin (LMT) 27 Sessions, Jeff 22, 51 Alibaba (BABA) 21 Cheers 21 Development Specialists 32 Lubetzky, Daniel 64 Shell Pipeline (RDS/A) 38 Amazon.com (AMZN) 11, 20, 30 Cheney, Dick 51 Dole, Bob 51 Lucas, Robert Jr. 13 Shinawatra, Thaksin 6 XYZ American Airlines (AAL) 38 Chevron (CVX) 44 Domaine Chandon (Ningxia) LVMH Moët Hennessy-Louis Shinawatra, Yingluck 6 Xi Jinping 21 American Apparel 18 Moët Hennessy (MC:FP) 21 Vuitton (MC:FP) 21 Singh, Porush 12 Yanukovych, Viktor 51 American Continental Group 33 Dr Pepper Snapple (DPS) 11 Lyons, Jenna 56 Skillsoft 44 Yellen, Janet 8, 16 Amoruso, Sophia 56 Duterte, Rodrigo 6 Smith, Donnie 11 YouTube (GOOG) 30 Antonio, Jose E.B. 22 Emtrain 44 Société Générale (GLE:FP) 18 Zulily (QVCA) 30 Apple (AAPL) 44 Erdogan, Recep Tayyip 6 M Arena, Bruce 11 Eurasian Development Bank 15 MacInnis, Matt 44 Axelrod, David 51 Euromonitor Inter national 21 Madden, John 62 EuropaCorp (ECP:FP) 62 Maduro, Nicolás 6 Exokinetics 31 Mallaby, Sebastian 16 B 62 Facebook (FB) 11 Manafort, Paul 51 How to Contact Bai Brands 11 Jessica Fannie Mae 33 Marenzi, Octavio 32 Bloomberg Businessweek Bank of America (BAC) 12 Chastain Farley, Richard 32 Marriott International (MAR) 25 Bank of China (601988:CH) 34 Fawcett, Chris 31 Mars 15 Editorial 212 617-8120 Ad Sales 212 617-2900 Bannon, Steve 6, 32 Chewy.com 30 Fidelity Investments 11 Mastercard (MA) 12, 20 Barclays (BCS) 34 China Construction Firtash, Dmitry 51 Masueger, Claudia 21 Subscriptions 800 635-1200 Barrack, Tom 51 Bank (601939:CH) 34 Founders Fund 31 May, Theresa 8 Address 731 Lexington Ave., New York, NY 10022 Bell, Larry 38 China Investment Corp. 34 Fox News (FOXA) 44, 49 McCain, John 51 E-mail [email protected] Berkowitz, Bruce 33 Chipotle Mexican Grill (CMG) 20 Freddie Mac 33 McCarthy, Gina 24 Fax 212 617-9065 Subscription Service Berlusconi, Silvio 6, 14 Citic Group 34 McCarthy, Kevin 24 PO Box 37528, Boone, IA 50037-0528 Bernanke, Ben 16 Citigroup (C) 34 McKibben, Bill 38 BHP Billiton (BHP) 20 Clinton, Bill 22, 49 G Merkel, Angela 11 E-mail [email protected] Black, Charlie 51 Clinton, Hillary 32, 51, 56 Gap (GPS) 18 Mnuchin, Steven 32 Reprints/Permissions 800 290-5460 x100 or BlackRock (BLK) 30 Coca-Cola (KO) 21 Gates, Bill 18 Modi, Narendra 12 [email protected] Blankfein, Lloyd 32 Cohen, Ryan 30 General Electric (GE) 11 ModSquad 28 Boeing (BA) 25, 27 CoinDesk 20 Glossier 56 Moody’s (MCO) 38 Letters to the Editor can be sent by e-mail, fax, Brandt, Bill Jr. 32 Colonial Pipeline 38 Goldman Sachs (GS) 30, 32, 44 Musk, Elon 27 or regular mail.