Power Sheet: Hillary Needs a Plan to Keep Bill Busy

-Would Bill Clinton be “executive chairman?” When CEOs step down, they often stay on as chairman or executive chairman, the latter title usually meaning that they are, in effect, still CEO but with more free time. Sometimes it makes sense if the old CEO’s continued presence is necessary to calm nervous investors or customers during the transition. But frequently it merely hampers the new CEO, who constantly has the old boss looking over his or her shoulder. A similar concern will be unavoidable if Hillary Clinton wins in November. Her husband remains highly popular, as his TV ratings on Tuesday night showed, and many features of his tenure –a strong economy, a roaring bull market, and bi-partisan cooperation on several issues – look like a dream compared with the 16 years that have followed. Just as important, he loves all parts of the game – the politics and the policy-making. Team Clinton must somehow cash in on his popularity while persuading voters that the old boss wouldn’t be quietly directing the new CEO.

-Pope Francis says “the world is at war,” but the Dems go light on the topic. None of the 61 speakers on Day One of the convention mentioned ISIS, Islamic State, terror, terrorist, or terrorism, says PolitiFact, and speakers on the following two nights have on the whole treated the issue lightly. The Republicans, by contrast, talked about it almost constantly at their convention. Classic strategy is to downplay issues that the other side loves, but news events may force the Dems to rethink. With terrorism in Europe becoming an epidemic, and the Pope saying “the world is at war” when asked about the killing of an 85-year-old Catholic priest in France by two ISIS “soldiers,” the Democrats risk looking clueless.

-Outraged by Donald Trump’s remarks on Russian hackers? If so, he’s delighted. He has built his career on staying in the news. He understands in his bones how it’s done. So when he invites Russia to release Clinton’s 30,000 missing emails, he knows exactly what he’s doing. Any other candidate would be doomed. Policy experts across the political spectrum are shocked. His supporters couldn’t care less. And this morning his name is on the front page above the fold, or its digital equivalent, around the world. That strategy got him the nomination, and so far he’s refusing to do the classic post-convention pivot to a more centrist campaign. The great question now is whether outraging the grown-ups can win him the presidency. I’m still betting not.

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What We're Reading Today

Obama positions Clinton as the way forward
In a speech attacking Donald Trump's cynicism, President Obama made the case for Hillary Clinton as president. Speaking on Day Three of the Democratic National Convention, he said, "there has never been a man or a woman" more qualified to serve as president than Clinton. The election is vastly important to Obama's legacy; a Trump presidency could roll back Obamacare and other policy changes of his administration.  CNN

Trump asks Russia to hack for him
The GOP presidential candidate asked Russia to find "30,000 emails that are missing," referring to emails from Clinton's private email server that she didn't turn over to the State Department. It's unprecedented for a presidential candidate to ask a foreign nation to breach U.S. security. Speaking at the DNC, former CIA Director Leon Panetta called Trump's comment "irresponsible."  NPR

Facebook posts another huge profit... 
...but can this run continue? Mark Zuckerberg's company reported  59% higher revenue and 15% more active users. But investors wonder if Facebook can hold off  social media competitors and find new sources of hyper-growth. Zuckerberg has responded by introducing new ventures, such as virtual reality headsets, but they will take time to produce results. Fortune

Credit Suisse reports a surprise profit
Tidjane Thiam's company is attempting a complicated and risky transition away from investment banking and toward wealth management. Despite expectations that the Swiss bank would lose 37 million francs this quarter, it posted a 170-million franc profit. But investors aren't persuaded the revamp is working; they worry that this profit is just a bright spot in a difficult transition. WSJ

Building a Better Leader

Today's workforce is inspired more by...
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It's tough to be too safe with your online data as a company leader
Top tech execs including Facebook's Mark Zuckerberg, Twitter's Jack Dorsey, and Amazon CTO Werner Vogels have all been hacked. Fortune

Renault's board says it will reduce the CEO's pay package...
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Ride hailing services to become legal in China
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Whole Foods international expansion plans hit a snag 
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Bill Gates rejects the notion U.S. growth will slow...
...and he points to three innovations that will drive the economy. In reviewing Robert Gordon’s The Rise and Fall of American Growth, Gates says advanced robotics, searching for a cure for Alzheimer's, and discovering super materials will produce strong growth for many years. Fortune

Up or Out

Eileen Naughton has been promoted to Google's vice president of people operations. Fortune

Eli Lilly CEO John Lechleiter will retire at year-end. David Ricks will succeed him. WSJ

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Oracle is buying NetSuite for $9.3 billion
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Wikileaks has published DNC voicemails
They seem to be mostly routine. Fortune

Comcast's biggest problem in its second quarter wasn't cord-cutters
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Apple has sold its billionth iPhone
The company hit the milestone last week. Fortune

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