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I turned down a vice-president job that only offered 10 days off a year. As a mom of 2, I need more flexibility.

Smiling mother dressed in business clothes talking to her son on his way to school
A mom turned down a job because it didn't offer enough paid time off.

Jordi Mora igual/Getty Images

  • Sherri Carpineto is senior director of strategy and operations Ascom Americas.
  • A few years ago, she was headhunted for a VP role but only offered 10 days off.
  • She said she always negotiates time off, because flexibility is critical.

This as-told-to essay is based on a conversation with Sherri Carpineto, senior director of strategy and operations Ascom Americas. It has been edited for length and clarity.

A few years ago, I received an email from a recruiter out of the blue. I wasn't looking for a new job β€” I had been with my company for over a decade β€” but I was head-hunted for this position.

The role was for vice-president of operations for a publicly traded company. It would have been a big step in my career, and the salary increase was significant. It involved working with older people, so there was a chance to make a real-world impact.

It seemed like a great opportunity until I learned that the job was only offered 10 days of paid time off, including all sick and vacation time. When I talked with the CEO about it, she said, "I wish we had better work-life balance, but we don't." That's when I knew I had to turn down the job.

As a mom of 2, flexibility is key

Being a mom of two has certainly impacted my career in corporate America. I took a job that offered remote work long before that became the norm. I stayed there for 15 years because the flexibility was critical for my family.

When my oldest son was 3, he was diagnosed with Celiac disease. At 6, he was diagnosed with type 1 diabetes. Because of my remote work and flexible schedule, I could run down to the school when he was sick and go on field trips to make sure he was taken care of medically.

Staying with the same company for 15 years no doubt impeded my career, but the positive impact on my family was well worth that compromise. Today, my sons are 12 and 15. They still need me but in different ways. Most recently, I utilized time off and remote work when a teacher strike kept them home for three weeks.

I don't usually take all my PTO, but like knowing I have it

When I was offered the vice-president role, I refused, on principle, to take it. But in reality, I've never been someone who uses all their time off. In the job I was in for 15 years, I was often the person calling into meetings, even on days off, or taking on more projects, even when they were outside my scope of work.

I was laid off from that company after 15 years, during the pandemic. That changed my philosophy. I had thought that I could make myself indispensable by going above and beyond, but at the end of the day, layoffs are a money decision.

As I interviewed for new roles I knew that time off and remote work were priorities for me. Although I don't always take my allotted time off, I like knowing it's there if I need it.

As a manager, I encourage people to take time off

As a manager, I've always encouraged my employees to take time off. The least productive employee is one that is burned out. We're all salaried adults, and as long as the work is getting done, I encourage people to take their time and disconnect from work.

When I was offered the VP role, I tried to negotiate. I wanted at least four weeks of time off annually. The company refused to negotiate, but I've had better luck asking for more time off in other roles. Time to focus on family while also having a meaningful career is non-negotiable for me, and I'll always take a stand for it.

Read the original article on Business Insider

Barnes & Noble boss is planning to open about 60 new stores in the US

Barnes & Noble store
Barnes & Noble and Waterstones boss James Daunt told the Financial Times it would be "logical" to consider listing the chains.

Drew Angerer/Getty Images

  • Barnes & Noble plans to open around 60 new stores in the US, says CEO James Daunt.
  • Daunt said it would be "logical" to consider a future initial public offering in London or New York.
  • Barnes & Noble was acquired by Elliott Investment Management for $683 million in 2019.

James Daunt, the CEO of Barnes & Noble and Waterstones, said he would open about 60 new stores in the US.

The British bookseller boss told the Financial Times that he is considering a future initial public offering in London or New York as well as the expansion.

Throughout 2024, 57 Barnes & Noble locations were opened across the US, which currently has approximately 600 stores. In the UK, 12 new stores were added. Speaking about additions in the new year, Daunt said to the FT that he plans to "do that or more in 2025."

Barnes & Noble is the largest book chain in America. After he quit his investment banking job, Daunt launched Daunt Books in London in 1990 β€” where there are now about 10 stores. In 2011, he was appointed managing director of British bookseller Waterstones to help the struggling business, which faced growing competition from Amazon.

In 2018, Waterstones was sold to Elliott Investment Management by Russian billionaire and publisher Alexander Mamut. Barnes & Noble was acquired by the same New York-headquartered hedge fund the following year for $683 million.

Daunt was named CEO of both book retailers. He also continues to run his independent book chain in London.

The Barnes & Noble and Waterstones boss told the FT it would be "logical" to contemplate an IPO but that any plan would be based on Elliott's strategy for the future. Citing a person familiar with the matter, the FT reported there are no current plans to list the chains. However, it could be a possibility at a later stage.

At present, Daunt hopes to combine the IT and finance platforms at Barnes & Noble and Waterstones into one system.

He noted that it was a "solid Christmas" because as the holiday fell on a Wednesday, last-minute shoppers had the weekend before to purchase gifts.

"The last weekend and [December] 23-24 were exceptional on both sides of the Atlantic," he told the FT. "It has been a good post-Christmas as well."

Read the original article on Business Insider

Russia could share satellite tech with North Korea in exchange for troops sent to fight Ukraine, Antony Blinken says

People walk past a television showing file footage during a news report at a train station in Seoul on May 28, 2024, after North Korea said late Monday that the rocket carrying its "Malligyong-1-1" reconnaissance satellite exploded minutes after launch due to a suspected engine problem.
North Korea has repeatedly tried and often failed to launch satellites into space.

ANTHONY WALLACE/AFP via Getty Images

  • North Korea could get Russian satellite tech, the US Secretary of State has warned.
  • The tech would be in exchange for it sending troops to fight Ukraine, Antony Blinken said on Monday.
  • The US and its allies have accused Russia and North Korea of trading arms and military technology.

Russia could share satellite technology with North Korea in exchange for the troops it sent to fight Ukraine, US Secretary of State Antony Blinken has warned.

Blinken said the US had reason to believe that "Moscow intends to share advanced space and satellite technology with Pyongyang," during a press conference in Seoul on Monday.

North Korea "is already receiving Russian military equipment and training," he added.

If confirmed, it would add to Russia's reported ongoing efforts to help North Korea advance its satellite launch program.

Kim Jong Un, the North Korean leader, has repeatedly tried and often failed to launch satellites into space. The country said it had successfully launched a military spy satellite in November 2023. The most recent failure was when a rocket exploded during the first stage of flight in May last year.

At the time, the South Korean news agency Yonhap reported, citing an unnamed senior defense official, that a "large number" of Russian technicians had entered North Korea to guide the country's space program ahead of the failed launch.

In September 2023, Russian President Vladimir Putin promised Russia would help North Korea build satellites.

Having a satellite network would allow North Korea to identify targets to strike with its missiles and strengthen its ability to launch a preemptive strike against the US or its allies, giving them only a few minutes to respond.

Russia and North Korea's relationship has come under scrutiny in the past year after both countries signed a strategic partnership agreement in June, which requires the countries to defend each other in the event of aggression.

The US and its allies had previously accused Moscow of sending raw materials, food, and technical expertise to Pyongyang in exchange for shipments of artillery ammunition and missiles that Ukraine has reported seeing on the battlefield.

North Korea has also sent thousands of troops to aid Russia in its fight against Ukraine, officials from South Korea, Ukraine, and the US have said.

Blinken suggested Russia-North Korea's relations could go deeper as Putin may be "close" to formally accepting North Korea's status as a nuclear power.

He also described North Korea's deployment of artillery, ammunition, and troops as one of the "biggest ongoing drivers" that enabled Russia's war against Ukraine.

Read the original article on Business Insider

After Pornhub left Florida, VPN demand surged by more than 1000%

The Pornhub logo displayed on a cellphone.
Pornhub has withdrawn from Florida and other states over age verification laws.

Nikolas Kokovlis/NurPhoto via Getty Images

  • Pornhub exited Florida on January 1 due to a new age verification law.
  • The HB3 law requires users to provide ID to access adult sites. Non-compliant platforms face fines.
  • After the law was enacted, interest in VPNs in Florida skyrocketed.

Pornhub's exit from Florida at the start of this year over a new law requiring age verification for adult websites has resulted in searches for VPNs in the state skyrocketing.

VpnMentor told Forbes that it "detected a surge of 1150% in VPN demand" in Florida in the first few hours of the law taking effect on January 1.

The company described the surge as "staggering."

Google searches for "VPN" in Florida also experienced a notable rise.

While Google Trends doesn't give exact search figures, it showed that interest in the term "VPN" in Florida reached a score of 100 on New Year's Day. A value of 100 represents peak popularity for the term, a sharp increase from a score of 58 the day before.

Interest remained high as of Monday, with the term scoring 82 out of 100.

VPNs allow users to hide their location and IP address by routing their internet connection through a remote VPN server, allowing them to bypass regional blocks on websites.

The surge in VPN interest followed the implementation of HB3, which was passed by Florida lawmakers and signed by Gov. Ron DeSantis.

HB3 requires users to verify their ages with a third party using a driver's license before they can view pornographic material. If platforms hosting explicit material fail to comply, they can be fined up to $50,000 for each violation.

Florida is not alone in adopting such legislation. States like Oklahoma, Idaho, and North Carolina have introduced similar age-verification laws.

Last year, Pornhub pulled out of Texas in protest over a legally contentious effort to introduce age verification requirements.

Proton, a VPN service, said on Friday that it had received a "massive surge" in sign-ups for its services in the US.

"Typically, we see such spikes from countries with unstable governments facing internet shutdowns, meaning this is an anomaly," it said.

In a follow-up X post, Proton described it as a "false alarm" and said that the surge was the result of "porn."

Pornhub, the world's most-visited adult website and one of the most visited websites in the world, has already blocked access to its content in 17 states, according to The Independent.

In a statement provided to media outlets, Aylo, Pornhub's parent company, described the age-verification methods outlined in such laws as "ineffective, haphazard, and dangerous."

"Any regulations that require hundreds of thousands of adult sites to collect significant amounts of highly sensitive personal information is jeopardizing user safety," it continued.

Those attempting to access Pornhub in Florida without a VPN are now shown a video presented by adult entertainment star Cherie DeVille, who says "giving your ID card every time you want to visit an adult platform" is ineffective and puts children and users' privacy at risk.

Beyond grappling with age-verification laws, Aylo is also dealing with a wave of legal challenges.

Business Insider's Laura Italiano reported last year that hundreds of people have sued the company, alleging the website knowingly profited from videos depicting their abuse.

Meanwhile, in August, a Toronto-based law firm began a three-year independent monitorship of Pornhub and Aylo, which will review how Aylo responds to takedown requests and how it screens for illegal content.

Read the original article on Business Insider

How Trump 2.0 could privatize Fannie Mae and Freddie Mac

Data: YCharts. Chart: Axios Visuals

There is a broad-based desire to wrest Fannie Mae and Freddie Mac from federal control once Donald Trump takes office.

Why it matters: These two companies are the backbone of the U.S. housing market β€” together they support around 70% of U.S. mortgages.


  • Messing with their structure poses risk to the economy, and at the very least could raise mortgage rates even further.

State of play: Last week, the Treasury Department and the Federal Housing Finance Agency, which oversees the two companies, released a roadmap for how privatizationΒ could work.

  • In a sign that investors believe there's a real chance privatization could happen during Trump 2.0, stocks of government-sponsored enterprises (GSEs) jumped on the news.
  • Mortgage Bankers Association chief lobbyist Bill Killmer told Axios it's highly likely that the issue will at least be examined during the new administration, following several other reports.
  • Trump did not address the GSEs during the campaign or since his election. "No policy should be deemed official unless it comes directly from President Trump," Karoline Leavitt, spokeswoman for the transition, said in an email.

Reality check: This roadmap is a memo from a lame-duck administration, and the incoming Trump team could simply reverse it.

  • But the idea was to put up some guardrails up so the incoming administration doesn't act too recklessly in getting rid of federal oversight, said Jim Parrott, who was a housing adviser in the Obama administration.
  • He describes it as "a good governance move just to make sure that the new guys don't f--k things up too badly."

Zoom in: The roadmap lays out a process for privatization. It requires that the federal government gather public comment before making any moves and that Treasury be involved.

  • But it doesn't go into the nitty-gritty details of how the process would work.

The big picture: Any such process would be pretty gnarly.

  • Various policymakers and politicians have been trying to do it for years, without success. An effort during the first Trump administration fell short.

Flashback: Fannie Mae and Freddie Mac lost over $200 billion after the financial crisis hit in 2008 β€” vastly more than they had in cash.

  • They were the epitome of "too big to fail," so the government bailed them out by lending them billions of dollars they found themselves unable to repay.
  • Those debts were eventually restructured in a series of events that ended with the government owning 80% of the companies and having full rights to their profits, whether retained or paid out.
  • Common shareholders are left with nothing.

Between the lines: Fannie and Freddie are now very profitable, which means they would be very valuable were they fully public companies where profits flowed to shareholders.

  • However, such an action would involve Treasury giving up a valuable asset, while it's still owed an enormous amount of money.
  • Its "liquidation preference" β€” money owed to Treasury after earnings were retained to beef up capital β€” is $212 billion from Fannie Mae alone.

What's next: Fannie and Freddie both exist to borrow money on the capital markets at a risk-free rate. They can do that at the moment because they are part of the government.

  • As private companies, however, without a government guarantee, they would almost certainly lose their triple-A credit rating β€” and their debt would be considered risky for the purposes of calculating bank capital.
  • Both things would make their borrowing costs rise substantially, cutting into their profits. Those higher borrowing costs would then flow through into higher mortgage rates for the general population.

Between the lines: Most housing experts, both liberals and conservatives, say the key to privatization is giving these entities an explicit guarantee of a federal backstop in case things go badly.

  • In theory, a procedure called credit risk transfer can achieve this without leaving the government with a multitrillion-dollar contingent liability. In practice, that only increases the costs of GSEs even further.

The bottom line: No one has yet come up with a plan that extracts the GSEs from government control, repays Treasury what it's owed, makes sure the GSEs pose no systemic risk to the financial system, and prevents mortgage rates from rising.

  • Probably because such a plan is all but impossible.

Swiss flight attendant died due to 'severe lack of oxygen' after the plane filled with smoke

A Swiss Airbus A220-300 passenger aircraft flies over the houses of Myrtle Avenue before landing at London Heathrow LHR airport.
Β 

Gene Medi/NurPhoto via Getty Images

  • A Swiss International Air Lines flight made an emergency landing last month.
  • The Airbus A220's cabin was filled with smoke after encountering an engine problem.
  • An autopsy said a flight attendant died due to hypoxic brain damage, Blick reported.

A 23-year-old Swiss International Air Lines flight attendant died due to a "severe lack of oxygen to the brain," according to an autopsy reported by Blick, Switzerland's largest newspaper.

It comes after an incident on December 23, when Swiss Flight 1885 encountered engine problems, and the cabin was filled with smoke.

The Airbus A220 was flying from Bucharest, Romania, to Zurich when it made an emergency landing in Graz, Austria.

All 74 passengers and five crew members were evacuated, 17 of whom required medical attention, the airline said.

A week later, Swiss announced that one of the flight's cabin crew members died in the hospital in Graz.

"We are devastated at our dear colleague's death," said CEO Jens Fehlinger. "His loss has left us all in the deepest shock and grief. Our thoughts are with his family, whose pain we cannot imagine."

Blick reported that the public prosecutor's office in Graz has launched an investigation into the flight attendant's death.

A spokesperson told the newspaper that a Friday autopsy found the provisional cause of death to be hypoxic brain damage and cerebral edema, meaning brain swelling.

"The brain was massively damaged by a severe lack of oxygen, and the young flight attendant died of it in the intensive care unit," the spokesperson told Blick.

"We are also looking into the role played by the respiratory mask that the flight attendant was wearing," he added.

The Graz public prosecutor's office did not immediately respond to a request for comment sent by Business Insider.

Swiss said the investigation's initial findings point to a problem in one of the plane's Pratt & Whitney engines.

"We have no indication that the safety of the aircraft type is in question," it added.

Read the original article on Business Insider

Hertz is asking some renters if they want to buy their cars as it continues reducing EV fleet

Hertz car

Roberto Machado Noa/Getty Images; Jenny Chang-Rodriguez/BI

  • Hertz is asking some people renting Teslas and other EVs if they want to buy their vehicles.
  • The rental company said last year it would sell 30,000 EVs amid a slowdown in demand.
  • Hertz is offering used Teslas for sale for as little as about $18,000.

Hertz is continuing to reduce the number of EVs in its fleet by offering customers renting an electric car the opportunity to buy it at a bargain price.

The rental company said last year it would sell 30,000 EVs including Tesla, Polestar, and Volvo cars, due to the cost of repairs and maintenance.

The fire sale means Teslas are being listed at discounted prices on Hertz's website, and now the company appears to be asking some renters if they'd like to buy their EV.

One Hertz customer was offered a 2023 Tesla Model 3 β€” which sells new for $35,000 after federal incentives β€” for $17,913, according to an email posted on Reddit that called the move an opportunity "to think of this rental as a test drive!"

Other renters said they'd been offered similar deals for Polestar and Chevy electric cars.

A Hertz spokesperson told Business Insider the emails were part of an effort to give all customers the chance to buy either an EV or combustion-engine car that will soon be put up for sale by the company. Rental companies usually sell cars after they have been driven a certain number of miles.

Hertz's decision to buy 100,000 Teslas for $4.2 billion in 2021 was hailed as a turning point for the EV industry, but the rental company's electric shift hasn't gone to plan.

Its EV fleet, which also includes cars from General Motors and Polestar, has been hit by higher-than-expected repair costs and low resale values as demand for EVs has slowed over the past year.

Hertz's EV fire sale means buyers can pick up a used Tesla Model 3 or Model Y for as little as $17,900 and $27,700.

Read the original article on Business Insider

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