Apple on Monday dropped a tantalizing clue about a secret new project at the company by naming Dan Riccio, its longtime head of hardware engineering, to lead it. In an announcement about the change, Apple didn’t disclose what Riccio’s new job will be other than to say it will involve a new project and that Riccio will report directly to Apple CEO Tim Cook. It seems unlikely that Riccio will...
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How Activists Proved to be Salesforce’s ‘Superpower’
These corporate efficiency initiatives really work! Salesforce’s April-quarter earnings report Wednesday showed an operating profit of $412 million, a 5% margin, compared with $20 million a year earlier, which equated to a margin of 0.27%. The reason was lower expenses—research and development costs fell 8.4% while marketing expenses dropped 6.5%—even as revenue rose 11%. Cutting costs to lift...
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