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Speaker 1: Global business news twenty four hours a day. If Bloomberg

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Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow.

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Speaker 1: This updates brought to you by c b o E

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Speaker 1: r MC. Come to the c b O E Risk

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Speaker 1: Management Conference February twenty nine to March second at the

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Speaker 1: highest regency Coconut Point, Florida. Register and learn more at

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Speaker 1: c b O E r M c US dot com

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Speaker 1: best by the largest US electronics retailer, saying fourth quarter

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Speaker 1: profit fails seven point seven percent as week demand for

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Speaker 1: phones and tablets hearts sales. It's forecast for the first

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Speaker 1: quarter missed analysts estimates, and it shares her down three

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Speaker 1: percent this morning. Toronto Dominion Banks and fiscal first quarter

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Speaker 1: profit rose seven point nine percent on games at its

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Speaker 1: Canadian and US retail businesses to lender, raising its quarterly

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Speaker 1: dividends seven point percent of fifty five cents of share.

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Speaker 1: European stocks in US DOT Index futures are higher, led

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Speaker 1: by banks and energy company says Oil Well Oil has

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Speaker 1: turned lower again and we checked the markets every fifteen

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Speaker 1: minutes throughout the trading day. On Bloomberg SNP eveny futures

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Speaker 1: are up to points DOWI Mini futures of nineteen and

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Speaker 1: NASDAKI many futures are up three DAX in Germany's up

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Speaker 1: one point six percent ten Your treasury of six thirty

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Speaker 1: seconds the yield one point seven two percent. Nim X

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Speaker 1: screwed oils down four tenths per cent or twelve cents

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Speaker 1: to thirty two oh three of barrel Comex Scholl down

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Speaker 1: three tenths per cent or three dollars twenty cents. At

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Speaker 1: twelve thirty five ninety announced the euros a at dollar

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Speaker 1: ten thirty six, the en one twelve point four six.

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Speaker 1: And that's a Bloomberg business flash. Tom and Mike Karen,

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Speaker 1: thank you very much. Sidney Finkelstein is one of the

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Speaker 1: loneliest people in the world. I think. He is the

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Speaker 1: Roth Professor of Management at the Tuch School of Business

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Speaker 1: at Dartmouth College, which is in of course Hanover, New Hampshire.

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Speaker 1: He and our old friend Danny Blanche for our tim

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Speaker 1: the only two people left in the state now that

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Speaker 1: the presidential candidates have all moved on and the reporters

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Speaker 1: have left the state. The primary was over and uh

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Speaker 1: Professor Finkelstein. Now with enough time on his hands, he

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Speaker 1: was able to right a new book. It's called Superbosses.

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Speaker 1: And we hope our super bosses are listening because he

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Speaker 1: will give us advice on how to be one and

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Speaker 1: uh weighing on some of the management issues out there

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Speaker 1: in the world today. Uh, you can you define a

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Speaker 1: superboss other than one that gives Tom and I a

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Speaker 1: big race? Well, you know, the superboss is a leader

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Speaker 1: of boss that actually helps other people accomplish more than

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Speaker 1: they ever thought possible. And you see these people in

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Speaker 1: different industries. When you look at a generation of town

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Speaker 1: that was developed by Bill Walsh in football or on

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Speaker 1: Alice Waters and in high end restaurants, they just helped

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Speaker 1: produce and generate tremendous town, helped other people do great things.

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Speaker 1: All Right, this is an interesting question and interesting timing

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Speaker 1: because we do have this presidential campaign that blew through

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Speaker 1: your state not long ago. Do we have any evidence

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Speaker 1: that any of the candidates know how to manage? That's

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Speaker 1: one of the criticisms of the incumbent these days was

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Speaker 1: that he was not a boss before he became in

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Speaker 1: charge of the hundreds of thousands of people who worked

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Speaker 1: for the United States government. The amazing thing about politics

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Speaker 1: is that pretty much until the last couple of election cycles,

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Speaker 1: you didn't have to have any business experience. In fact,

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Speaker 1: that would be really odd. And we had mid Romney,

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Speaker 1: and of course we have we have Donald Trump, and

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Speaker 1: the styles of all these people are very different. But um,

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Speaker 1: Trump certainly has a big track record. But running a

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Speaker 1: real estate company and mostly licensing your name to lots

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Speaker 1: of other businesses is less about management and more about branding.

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Speaker 1: So even him, even you know Trump, who's the most

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Speaker 1: business like of any of the players in the field today,

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Speaker 1: um probably is not done nor as a great manager.

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Speaker 1: A rave review for this book, folks, I'm gonna go

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Speaker 1: to page one in a minute, Professor Finkelstein. Even Jeff

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Speaker 1: m L. He of the Dartmouth Green Luncher book, so

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Speaker 1: at least one copy was sold. Uh you know, I

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Speaker 1: saw Julian robertson the other day and truly his Central

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Speaker 1: Park you feature him as a hands on delegator. M

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Speaker 1: l is known as a hands on delegator. This is

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Speaker 1: a magical thing. How do you be a hands on delegator?

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Speaker 1: It's one of the secrets to what superbosses. They do

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Speaker 1: too they do two things that most people look at

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Speaker 1: as as opposites. You know, you're either a big delegator

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Speaker 1: or your micro manager. Well, what superbosses do is that

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Speaker 1: they'll give you a big job, will give you a

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Speaker 1: big opportunity, but they'll also show up to work with you,

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Speaker 1: to up and on an ounce for an hour, for

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Speaker 1: a day. And it's not that they're going to do

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Speaker 1: your job, but because they know so much about the

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Speaker 1: business themselves, they're challenging you. They're pushing you, they're teaching you,

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Speaker 1: and they do both of those things together. One of

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Speaker 1: the things I deal with every day, and folks we

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Speaker 1: have a really large surveillance team that makes the show

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Speaker 1: go for five hours, is the way you tell people

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Speaker 1: they screwed up, but it's okay that you screwed up.

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Speaker 1: That's a that that's a delicate issue, isn't it. Yeah,

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Speaker 1: that's a hard thing to do, and you know, you

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Speaker 1: have to provide feedback whether somebody's doing a good job

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Speaker 1: or not a good job, you gotta tell him. But

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Speaker 1: at the same time, you can't kind of tamp down

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Speaker 1: on anyone taking a risk, taking a chance and get

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Speaker 1: getting punished for you know, anything doesn't go quite right, Mike.

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Speaker 1: You know, I go to the index is always to

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Speaker 1: find out where anybody, including Sydney Finkelstein is doing. Yahoo

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Speaker 1: or Marissa Meyer aren't in the index, because you know

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Speaker 1: that's that's an interesting thing. Give us your appreciation of

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Speaker 1: Marissa Meyer's tenure at Yeah, it's been so visible, so controversial.

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Speaker 1: It it has, And I have some sympathy for her

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Speaker 1: because she is he came in with this mega, big

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Speaker 1: brand name and as a result she's under the microscope.

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Speaker 1: Of course, it goes hand in hand. That big brand

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Speaker 1: name is what helped her get that job and helped

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Speaker 1: her make as much money as she makes, so now

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Speaker 1: you have to produce. It hasn't gone well obviously. Um

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Speaker 1: I didn't include her in the in the book because

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Speaker 1: I didn't find any evidence that she was a person

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Speaker 1: that has this track record developing lots and lots of

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Speaker 1: other people. But you know, more specifically, I think probably

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Speaker 1: Yahoo is no one's really figured out to make money

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Speaker 1: out of the thing other than some genius moved to

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Speaker 1: buy invest in Ali Baba years ago. The thing you

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Speaker 1: hear over and over again for people who have been

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Speaker 1: successful is you should hire people who are smarter than you.

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Speaker 1: How do you do that? I don't think it's actually

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Speaker 1: that that hard. It takes some guts. You have to

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Speaker 1: be willing to look you look at the people you're

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Speaker 1: you're interviewing and talking to and saying, you know, I'm

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Speaker 1: I want the world's best people around me, and you

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Speaker 1: know what it takes. It takes tremendous if you think

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Speaker 1: about it takes tremendous self confidence. You've got to have

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Speaker 1: that confidence not to feel threatened by people that come

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Speaker 1: in with tremendous track records. So we all know. You

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Speaker 1: know that's a good thing to do, is you say,

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Speaker 1: but I think a lot of people have this this

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Speaker 1: element of insecurity. They don't want to be shown up,

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Speaker 1: and it's exactly the wrong thing that you want to have,

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Speaker 1: because you're gonna you're gonna do way better if you're

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Speaker 1: surrounded by great people. What's the one thing, the one

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Speaker 1: thing somebody could do if they want to move along

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Speaker 1: the path to becoming it's super boss. Well, for me, um,

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Speaker 1: it's it's a mindset. It's a way of it's a

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Speaker 1: way of thinking. It's saying, you know, I'm not just

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Speaker 1: going to do what I'm gonna do, but I'm going

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Speaker 1: to um, I'm gonna focus very specifically on the people

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Speaker 1: around me and in my team, and there's so many

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Speaker 1: ways to start. You could, for example, customize how you

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Speaker 1: interact with people on your team. Customization. You know, being

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Speaker 1: close to customers is such a common obvious thing in

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Speaker 1: so many walks of life. But when it comes to

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Speaker 1: management and managing people, how bosses behave we have this

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Speaker 1: thing called leadership styles. Everybody talks about what type of

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Speaker 1: style they are, and I think that's I think it's

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Speaker 1: actually a dumb idea, because our leadership style gives you

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Speaker 1: an excuse to act the same way to everybody, and

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Speaker 1: that's who I am. Yeah. But the heart of this,

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Speaker 1: going back to Katherine Happerd and other great method actors,

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Speaker 1: is it's about method versus style. And in your world,

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Speaker 1: I don't mean talk, but I mean in the pseudo

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Speaker 1: NBA world, you've got too many people yammering about style

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Speaker 1: and not worried about the core method, the day to

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Speaker 1: day method abow to provide leadership. Divide that right, Well,

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Speaker 1: I'm not gonna denigrate the whole NBA world on that one,

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Speaker 1: but I happen agree with denigrade half of it, you know,

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Speaker 1: well the half that's not up in Handlver in Hampshire maybe, um, yeah,

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Speaker 1: you know, method, and I think that's not a bad analogy.

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Speaker 1: How you treat people, how you interact with people, knowing

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Speaker 1: what each person on your team, what makes them tick,

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Speaker 1: what how do you motivate them? I mean that's something

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Speaker 1: you mentioned Julian Robertson before, and some with some of

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Speaker 1: the interviews I did with you know, people like Chase

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Speaker 1: Coleman and others that have been you know, very successful,

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Speaker 1: they talked about how Julian with Taylor, how he interact

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Speaker 1: with people, and and some people was really really really

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Speaker 1: tough on and other ones he understood it different, you know,

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Speaker 1: maybe a little bit of a lighter touch was needed

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Speaker 1: to get people to go where they needed to go.

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Speaker 1: I'm curious as to how, if you're a superboss you

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Speaker 1: look at this. Is it an effort to make the

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Speaker 1: company great, make others succeed underneath you, or is it

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Speaker 1: an effort to make yourself look good reflected in the

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Speaker 1: way the company performs. So there's two things I'd say

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Speaker 1: that to that. You know, one is a motivation in

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Speaker 1: the first place. Not every superboss has the same motivation.

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Speaker 1: Some are are driven by the idea of helping other

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Speaker 1: people get better, their nurtures, their their mentors. And then

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Speaker 1: there's others. I think of, um, you know someone like

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Speaker 1: Larry Ellison, who is really, really tough, and it's not

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Speaker 1: that he cares so much about the people around him,

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Speaker 1: but he does care about winning and he understands that

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Speaker 1: to win, you need the world's best talent, you need

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Speaker 1: the world's best teams, and that's what helps those other

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Speaker 1: people get to get better. So it's the mindset could

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Speaker 1: be a little bit different depending on the person, but

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Speaker 1: they end up in the same place. They end up

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Speaker 1: doing pretty much the same types of things and how

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Speaker 1: they how they interact, and how they acted the boss.

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Speaker 1: Thank you so much, City Finkelstein. It is short, it

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Speaker 1: is sharp. How exceptional leaders master the flow of talent.

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Speaker 1: Superboss is this, of course the good work out of

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Speaker 1: Tuck up at Dartmouth, Mike. It's it just it really moves.

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Speaker 1: I mean, there's the show. The book rather uh two

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Speaker 1: hundred and twelve Tutor in fourteen pages just flies by.

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Speaker 1: Are you are you a superboss to our team? Well,

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Speaker 1: you know I alluded to that earlier. I don't know

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Speaker 1: if I'm a super boss or you're a super boss.

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Speaker 1: But the basic idea of doing it from a distance,

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Speaker 1: you can't do that anymore. John Rice ge and Davos,

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Speaker 1: who works out of Hong Kong, was adamant distance is done.

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Speaker 1: I mean you just you don't do it from some

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Speaker 1: throne or world headquarters from a distance anymore. It's just done.

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Speaker 1: You gotta be in the trenches, even if you're keeping

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Speaker 1: your mouth shut. I don't do that. Why used with

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Speaker 1: us while you ended I keep my mouth shut at

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Speaker 1: the five am meeting this morning. Never okay, answer was

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Speaker 1: never there. It is, folks, in terms of how we

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Speaker 1: do it. It's yeah, my book is gonna be called

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Speaker 1: super Putchets. That's what I am. No, but but but

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Speaker 1: but seriously, folks, it's an interesting book. Sydney Finkelstein super

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Speaker 1: Bosses as well. We've got a super data check features

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Speaker 1: up to down features of nineteen yen stable at one

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Speaker 1: twelve forty four actually dollar declining of d x Y

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Speaker 1: a little bit. Michael McKee and Tom Keane were delegating

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Speaker 1: another hour of Bloomberg's surveillance