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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
MPWMost Powerful Women

Lyft Adds Former Obama Advisor Valerie Jarrett to Board of Directors

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
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July 31, 2017, 12:08 PM ET
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One of President Obama’s longest serving advisors is hopping on board with Lyft.

Valerie Jarrett has filled the company’s ninth (and final) board seat, ending a long search by the ride-sharing service. Most recently, Jarrett served as senior advisor and assistant to President Obama for public engagement and intergovernmental affairs.

“I am a frequent Lyft passenger and have been inspired by the strong community John and Logan have created that is dedicated to enlightened corporate values,” said Jarrett in a statement. “We share a belief that reliable, affordable transportation positively impacts social mobility, and improves the quality of life in densely populated communities. I am thrilled to join the ride.”

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Jarrett may assist Lyft with its ongoing talks with public transit agencies to cut through much of the red tape that can affect the company’s expansion. Before working for Obama, she served as the commissioner of planning and development for the city of Chicago and chair of the Chicago Transit Board.

The addition of Jarrett to the company’s board comes as Lyft’s chief competitor Uber is in the midst of a PR crisis. Uber is in the midst of a search for a new CEO following founder Travis Kalanick’s resignation from the role amidst allegations of systemic sexual harassment. Most recently, Hewlett-Packard CEO Meg Whitman—who many had speculated was a CEO candidate—made it very clear she has no interest in the job. (Former GE CEO Jeff Immelt is now reportedly on the shortlist.)

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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