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America’s bosses just won’t quit. That could spell trouble - The Economist   

Of the many worries that whirl around the minds of chief executives, few are more unsettling than the question of succession. Having toiled their way to the top of the corporate ladder, many bosses struggle to imagine relinquishing control and placing their legacy in the hands of another.

A growing number of America’s bosses have instead opted to defer the matter altogether. By the end of last year 101 S&P 500 CEOs had held the corner office for more than a decade, up from just 36 ten years earlier, according to figures from MyLogIQ, a data provider. Although some, like Warren Buffett, the longest-serving of the lot with 53 years on the clock, built the companies they run, most are hired hands. Jamie Dimon of JPMorgan Chase, a bank, Shantanu Narayen of Adobe, a software firm, and Chris Nassetta of Hilton, a hotel franchise, are among the many who have outlasted their predecessors. Such long-serving chief executives have pushed up the average tenure of S&P 500 top dogs from six years to seven over the past decade.

Some bosses have become infamous for their reluctance to move on. Earlier this year Howard Schultz ended his third stint as boss of Starbucks, a coffee chain. Late last year Bob Iger took back the reins at Disney, a media giant, from his chosen successor, Bob Chapek. In July his two-year contract was extended until the end of 2026. The question of succession has long loomed over Mr Buffett’s conglomerate, Berkshire Hathaway.

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Go Ahead and Indulge: Science Says More Pleasure Will Help You Be More Successful - Inc.com   

Most of what you read about how to be more productive and successful focuses on how to get yourself to do difficult, unpleasant things. There's a boatload of articles for entrepreneurs out there on establishing healthy habits, advice from experts on improving your self-control and boosting your willpower, and plans and systems for squeezing more work into every hour. 

But what if achieving more wasn't always about doing hard things, but actually also about indulging in more of life's little pleasures? 

Early studies suggested there could be such a thing as too much self-control, finding "children who scored well on self-control also grew up to be overly reserved and lacked curiosity." They also found that "people with the highest levels of self-control may suffer from feelings of regret" and "struggle to appreciate the present moment, and when looking back over their lives, they come to resent the sacrifices they have made."

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This Company Is Turning Waste Into Clean Hydrogen. And Electricity. And Water - Forbes   

A "tri-gen" power system built for Toyota's Long Beach, California, port facility is now fully operational and generating clean hydrogen, electricity and water the automaker is using.

Power system manufacturer FuelCell Energy and carmaker Toyota have deployed the world’s first “tri-gen” system that turns methane-rich waste gas into electricity, clean hydrogen and water that the auto giant will use at its Southern California port facility for the next 20 years.

The companies said Thursday the energy platform at Toyota’s main U.S. logistics facility at the Port of Long Beach, proposed in 2017 and built in stages, is fully complete and will begin operating as soon as local permits are issued. It’s designed to convert a stream of biogas, sourced from agricultural waste and sludge, into 2.3 megawatts of electricity, 1,200 kilograms of hydrogen and 1,400 gallons of water per day, FuelCell Energy CEO Jason Few told Forbes. It only takes up as much space as three basketball courts.

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American cities are suing car manufacturers over auto theft. They have a case - The Economist   

Tiktok, a Chinese-owned social-media platform where users post short videos, is a fount of useful information. Type “Kia” into its search bar and the helpful autosuggest adds “boys tutorial”. Click through and the most-liked result is a video explaining how to steal a Hyundai car. A gloved hand pulls the plastic off the steering-wheel housing and then jams a screwdriver into the ignition switch and wrenches it aside. Over rap music a computerised voice says: “this is why you should not buy Kia or Hyundai.” The hand attaches a USB cable onto an exposed socket, and twists, and the car starts up. The video has over 415,000 likes. It is one example of a viral internet trend led by “Kia Boys”, adolescents who steal cars to joyride them and post the videos on social media.

On August 24th the City of Chicago announced it had filed a lawsuit against the American subsidiaries of Kia and Hyundai, two South Korean car manufacturers. The lawsuit alleges that the firms did not include simple immobiliser technology in some of their cheaper vehicles, making them extraordinarily easy to steal. In 2022, over 8,800 Kias and Hyundai cars were stolen in Chicago, making up two-fifths of the 21,000 vehicle thefts recorded. So far this year, they account for more than half—and the total compared with this point last year has doubled (see chart). The result of the failure to install immobilisers, said Brandon Johnson, Chicago’s left-wing mayor, is a “nationwide crime spree”.

Mr Johnson’s critics accused him of trying to abrogate responsibility for crime. Raymond Lopez, a conservative-leaning alderman, told Fox News the move was from a “socialist playbook”. Yet Chicago’s lawsuit is one of seven to have been filed by cities against the manufacturers so far this year, as car theft has soared across America. Baltimore, New York and Seattle are among the other cities to also be suing. Last year, over 1m vehicles were stolen, the highest figure since 2008, according to the National Insurance Crime Bureau, a trade association. Kias and Hyundais were among the most-stolen cars. A class-action lawsuit by owners was settled by the firms for $200m earlier this year.

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