Dimon's Heir at JPMorgan Still Hazy as 'Five More Years' Tick By - Bloomberg | An Orphan's Guide to Celebrating Christmas | Opinion | Beware Economists Who Won't Admit They Were Wrong | Anyone can break a Guinness World Record. I did

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Dimon’s Heir at JPMorgan Still Hazy as ‘Five More Years’ Tick By - Bloomberg

Halfway through Jamie Dimon’s special incentive to stay five more years atop JPMorgan Chase & Co., insiders are predicting more senior leadership changes to help potential successors gather experience.

A management shuffle in mid-2021 put two talented deputies — Jennifer Piepszak and Marianne Lake — into the spotlight as the board prepared to grant Dimon a bonus if he remains chief executive officer another half-decade. But with neither the clear frontrunner, colleagues say the two consumer-banking co-heads will likely need to tackle new assignments before one is ready to run the whole company.

Meanwhile, Piepszak has expressed reticence in the past about taking the top job, while Lake has at least entertained opportunities elsewhere, people familiar with the matter said, asking not to be identified discussing private talks. And Dimon shows no signs he views his retention package as a career closer.

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An Orphan’s Guide to Celebrating Christmas -

Losing my father helped me find my own holiday tradition — and perhaps even a happy ending.

December 25th was always a day of grief for my family, and in that way for me, too.

On Christmas Day, 1950, my father’s younger brother died in his lap. A week or two before, 8-year-old P.J. had stepped on a rusted can. This was rural Ireland before the good years. Their house had no running water or heat, and the puncture wasn’t properly cleaned. As tetanus seized P.J.’s body, my grandparents knew he needed help. But the hospital was three hours away and no one in town owned a car.

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Opinion | Beware Economists Who Won’t Admit They Were Wrong -

From an economic point of view, 2023 will go down in the record books as one of the best years ever — a year in which inflation came down amazingly fast at no visible cost, defying the predictions of many economists that disinflation would require years of high unemployment.

Why should we care? This isn’t about scoring personal points — although I’m a big believer in owning up to your past errors — it’s how you learn, and it’s also good for the soul. What I’m concerned about is that clinging to a view of the economy that has been disproved by recent events makes it more likely that we’ll mess this up, putting the economy through a recession that, it turns out, we didn’t and don’t need to control inflation.

How amazing has the economy been? As recently as March, the Federal Reserve committee that sets monetary policy projected that we’d end this year with 4.5 percent unemployment and with the Fed’s preferred “core” measure of inflation running at 3.6 percent. Last week, the same group projected year-end unemployment of only 3.8 percent and core inflation at only 3.2 percent. But actually the news is even better, because that last number is inflation for the year as a whole; over the six months ending in October, core inflation was running at 2.5 percent, and most analysts I follow believe that when November data come in later this week, it will show inflation down to around 2 percent, which is the Fed’s long-run target.

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Anyone can break a Guinness World Record. I did - The Economist

On an overcast spring day in Southampton, a city on the south coast of England, a man wearing a jetpack was about to go head to head with a hurdler. Nearby, the inventors of the world’s fastest wheelbarrow, toilet and wheelie bin were getting ready to race their motorised contraptions against each other (the fastest, it turns out, was the toilet). At the other end of the running track stood a bearded adjudicator, wearing a dark-blue suit with silver piping and a badge that read “Guinness World Records”.

What do you think of when you imagine a world record? Maybe Usain Bolt and the 9.58 seconds it took him to run 100 metres, or Elizabeth II, the longest-reigning queen of England, or the Mariana Trench, the deepest point in the ocean. You could be forgiven for not considering the fastest time for a person wearing a jetpack to complete a hurdles course – 42.06 seconds, incidentally – to be a legitimate sort of record.

But the people behind the Guinness World Records (GWR), who have been judging the world’s fastest, strongest and tallest since the 1950s, are more open-minded. This attitude is partly born out of sincerity – GWR employees tend to be comically passionate and nerdy about record-breaking. But, increasingly, it is also about money. The record-breaking event in Southampton had been sponsored by an electronics company that was trying to market a phone charger.

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