Happy Friday, Broadsheet readers! YouTube still isn’t profitable, IBM CEO Ginni Rometty is investing in cloud computing and House of Cards returns to Netflix. Hope you have a comfortable couch and a free day — let the binge-watching begin!
• Down the Tube. In its first full year under the leadership of Susan Wojcicki, YouTube didn’t turn a profit despite generating $4 billion in revenue. Now Wojcicki must find a way to make YouTube an entertainment destination of its own, rather than just a repository for linked-to content.
ALSO IN THE HEADLINES
• A cloudy forecast. IBM CEO Ginni Rometty yesterday announced that the company will spend $4 billion in 2015 on cloud computing, mobility, analytics, social and security technologies.
• Getting away with murder? Criminal allegations against Argentine President Cristina Fernández de Kirchner have been dismissed. Those charges were originally brought by prosecutor Alberto Nisman who accused Kircher of conspiring to protect Iranian officials from responsibility for their involvement in the 1994 bombing of a Jewish community center in Buenos Aires that killed 85 people. Nisman was later found dead in his apartment under mysterious circumstances.
• Setting a precedent. The U.S. Senate Judiciary Committee yesterday voted 12-8 to support Loretta Lynch’s nomination for U.S. Attorney General. If confirmed by the full Senate, Lynch would become the first black woman to serve in the position.
• Pulling no punches. Former Hewlett-Packard CEO Carly Fiorina went on the attack against Hillary Clinton at the Conservative Political Action Conference yesterday, criticizing everything from Clinton Global Initiative funding to the former Secretary of State’s tweets. “I will say this,” the potential Republican presidential hopeful said, “if Hillary Clinton had to face me on a debate stage, at the very least she would have a hitch in her swing.”
• Big testimony. Kleiner Perkins CFO Susan Biglieri said that she had not experienced gender discrimination at the venture capital firm, during testimony in the gender discrimination case brought against Kleiner Perkins by former partner — and current Reddit interim CEO — Ellen Pao.
• Bear market. Kate Clark, co-founder of Yottoy Productions Inc., a company that makes toy versions of famous storybook characters, spoke to The Wall Street Journal about starting her business, dealing with knockoffs and capitalizing on the Paddington Bear movie.
• Martha in the middle. A New York judge yesterday revived a lawsuit claiming that JCPenney had interfered with Macy’s merchandising contract with Martha Stewart Living Omnimedia. In 2011, Martha Stewart agreed to design bed, bath and kitchen wares for JCPenney — but Macy’s said it was already in a similar, exclusive relationship with the homemaking brand. Macy’s and Martha Stewart settled in January 2014.
• Hedging in court. BlueCrest Capital has sued Meredith Whitney, alleging that she refused a request from co-founder billionaire Michael Platt to cash out its investment in her hedge fund. BlueCrest tried to get its money back through lawyers, emails, phone calls and even a Snapchat from a mutual friend of Whitney and Platt’s, Whitney said. Platt’s attempt to withdraw the investment, originally $50 million but now worth $46 million, she says in a court filing, is a “blatant attempt” to force her fund’s dissolution.
• Eye-popping growth. Fast-food chain Popeyes yesterday reported earnings results, including a 6.2% increase in same-store sales for 2014, compared to 3.7% the year before. CEO Cheryl Bachelder thanked franchise owners, restaurant teams and field employees for their “outstanding performance” in her statement.
• Kashing in. Kris, Kim, Khloé and Kourtney Kardashian, along with Kendall and Kylie Jenner, have signed a $100 million deal with E!, the largest ever for a reality television show.
• Babysitters Club. Three years ago, 15-year-old Noa Mintz formed Nannies by Noa, a company that pairs caretakers with families who need them. Revenue is now at an estimated $375,000.
• MOVERS AND SHAKERS: Jaguar Growth Partners has named Eva Lo as its new senior VP of operations and chief compliance officer. She previously was with Rockwell Partners.
IN CASE YOU MISSED IT
• There goes the neighborhood. Meet Harriet Tregoning, urban planning superstar and now director of the U.S. Department of Housing and Urban Development’s Office of Economic Resilience. She focuses on helping cities become more diverse, innovative, affordable and sustainable places to live.
• Tragic hero. Air Force Reserve Captain Jamie Brunette earned the Contracting Officer of the Year Award from Air Mobility Command, for her service in Afghanistan. She also was a partner in a new Florida fitness center, before committing suicide earlier this month. It is a tragic reminder that we need to do more to serve the needs of our returning soldiers.
Stars and Stripes
• Driving change. Women in Saudi Arabia are still banned from getting behind the wheel, but that hasn’t stopped them from getting to work.
• Fighting spirit. Last summer, then 17-year-old Claressa “T-Rex” Shields took home the gold medal in the first-ever Olympic female boxing competition. Shields and her trainer spoke to Mother Jones about future goals, not landing any endorsement deals, and her biggest distraction.
Share today’s Broadsheet with a friend:
ON MY RADAR
|Not just seen. I want to be significant.|
| -- Claire Underwood, now the First Lady of the United States on House of Cards, the third season of which is available today on Netflix |