Since the Bernard Madoff scandal broke a year ago, thousands of investors who lost their livelihoods have been left outraged as to how Madoff — a former chairman of the NASDAQ stock market who ran Bernard L. Madoff Investment Securities (BMIS) — was able to commit such a fraud, and over such a long period of time.
Next time you look at a picture in a newspaper, on the web or on an advertising billboard, it is more than likely that it got there courtesy of Jonathan Klein.
The 49-year-old South African is the chief executive of Getty Images, the largest distributor of images in the world. From, its US headquarters it sells more than 20 million a year — notably to the media and advertising. But with these sectors hit hard by the recession, surely even an organisation of Getty’s size — it employs more than 1,700 and serves business customers in over 100 countries — must be suffering?
Property developer Mark Hoffman is sitting pretty. Hardly surprising considering that one of his business partners is Simon Cowell, the multi-millionaire music entrepreneur and X-Factor judge.
Mr Hoffman, 36, is the founder of Commercial Property Investments (CPI), a London-based firm which he runs with Simon Cowell; his brother, Nicholas Cowell, co-founder of Estate Office; Adrian Levy, also of Estate Office; and Mr Hoffman’s father, Peter.
Senior executives and company directors have been no more immune to redundancy than anyone else during the economic downturn. Whilst there is talk of the tide turning, people are still losing their jobs.
Employment disputes and redundancies are a typical feature of troubled economic times as companies react to dwindling revenues by firing employees at all levels in order to cut costs. But lawyer Elaine Aarons, a leading employment expert who specialises in advising executives at international law firm Withers LLP, believes this recession has been different.
Former body-builder Zef Eisenberg is flexing his muscles in the business world.
In 1995, he founded Maximuscle — the UK’s top sports nutrition brand used by British sporting stars such as Josh Lewsey and Gavin Henson — which he sold for £75m in 2007. Mr Eisenberg, 36, who remains the company’s president and principal shareholder, is now pursuing other projects. While preparing to launch a new chain of health and fitness clubs under the Maxigym trademark — a Maximuscle spin-off — he is also executing a multi-million pound assault on London’s property market.
With a maturing online market, grocery websites need to create new ways to stand out to price-savvy customers. Staying ahead of the game is grocery price comparison site mySupermarket.co.uk, which compares the cost of products among the big four online supermarkets — Tesco, Asda, Sainsbury’s and Ocado (Waitrose) — and lets users cost their baskets as they shop.