For years, Jeff Bezos has made a religion of putting the customer first at Amazon.com. Now, with a contentious union vote behind him and the end of his reign as chief executive officer nearing, the world’s wealthiest person says it’s time to focus more on the welfare of the company’s workers as well.
“I think we need to do a better job for employees,” he said in a letter to shareholders. “While the voting results were lopsided and our direct relationship with employees is strong, it’s clear to me that we need a better vision for how we create value for employees – a vision for their success.”
Bezos is stepping down as CEO later this year to become executive chairman, and it was clear that legacy was on his mind in the final missive to investors in his current role. Read more…..
Chart of the Day
Peter Lynch on investing. Peter Lynch is one of the legendary investors in the world. Peter Lynch managed the Magellan Fund between 1977 and 1990 with an average annual return of 29.2% and outperformed the market consistently.