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Hong Kong's family-owned banks are struggling to find a new generation of suitable executives to take over for white-haired CEOs. David Li Kwok-po, the 74-year-old CEO of Bank of East Asia, repeatedly pushes off retirement as the bank wrestles with succession issues. "The choices for the next boss of a family-owned business are always limited, as he must be a family member who is willing to take over control," says human resources consultant Alexa Chow Yee-ping.
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The latest round of earnings reports suggests that American CEOs continue to prioritize reducing expenses to support earnings. "Corporate America has cost-cut just about as much as they can," says Jeffery Saut of Raymond James Financial. "I think the economy is going to pick up, and if you're understaffed and don't have enough throughput in your factories, yeah, I think you're going to miss out on some things.
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A study from the Partnership for Public Service and McKinsey & Co. suggests that the federal government's agencies aren't doing enough to train and develop the next generation of leaders. Still, there are some bright spots: The Department of Defense develops senior leadership through a two-year program that includes lessons in military leadership outside one's branch, academics and real-world application.
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About a quarter of social media users say they've posted content on social networks that could be harmful to their job prospects, according to a FindLaw.com survey. The study also found that about three-quarters of young users had deleted posts after having second thoughts about how something they'd shared might be viewed by current or potential employers.
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Guests at Sol Wave House in Majorca, Spain, can log in to a Twitter-powered Web application that can only be accessed over the hotel's private Wi-Fi network, giving them a semi-private space in which to chat -- and potentially flirt -- with one another. The hotel also offers Twitter-themed suites, cocktails and candy, and allows guests to order room service or poolside drinks using dedicated hashtags.
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Tencent's WeChat social-messaging application has 195 million active users in China, and about 400 million registered users in total. That suggests that WeChat has attained the kind of critical mass that could make it impossible for Western rivals such as Facebook to get a foothold in the Chinese marketplace, Jon Russell writes. "Every day that Facebook is not in China, WeChat's presence among users, advertisers and ... [mobile providers] becomes stronger," Russell writes
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Pinterest will use data gathered through its embeddable "Pin It" button to recommend boards and pins to users based on websites they have visited, the company announced. "If you're planning a party and have gone to lots of party sites recently, we'll try to suggest boards to make your event a hit," Pinterest said in a blog post. Although advertising uses of the data and recommendations are likely around the corner, Pinterest is offering users the opportunity to opt out of the service using a browser's "Do Not Track" feature.
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