The Water Coolest is a free daily business news and professional advice email newsletter created for weekday warriors that is delivered fresh daily at 7 AM EST. You can subscribe at thewatercoolest.com.
Estimated Read Time: 3 minutes and 51 seconds
YOU’VE GOT MAIL … FINALLY
Gmail released a new update that had been both leaked and rumored for the last few months. This redesign is the first major revamp for Gmail since 2011, so 300 internet years.
Google’s email redesign includes an entirely reimagined look, along with some new features that have previously only been available through its inbox mobile app. The visual redesign gives the feel of a desktop app via a web client, which appears to be the direction that companies are taking their designs.
As for new features, Gmail now includes Confidential Mode, two-factor authentication on emails, email snoozing, and smart reply.
If you’re not one of the lucky ones that have already received the roll-out, getting the new-look Gmail is pretty simple. You’re welcome.
Water Cooler Talking Point: “Hmmm, confidential mode, two-factor authentication, and integrated rights management. Seems like someone is working in new features off of the ‘definitely-not-something-Mark-Zuckerberg-would-include’ list.”
We’ve got a good old-fashioned, Corporate American d*ck measuring contest on our hands, folks. Comcast has officially submitted a $31B bid for European cable-TV operator Sky TV, outbidding 21st Century Fox.
So this is just your run of the mill bidding war, right? If only this clusterf*ck were that simple. Fox currently owns 39% of Sky, and Fox has agreed to sell most of its film and TV assets, including the Sky stake, to Walt Disney for $52B.
But did we mention Comcast is considering meddling in the Fox-Disney deal, via shareholder activism? You might remember that Comcast actually outbid Disney, but Fox was wary of regulatory risk associated with Comcast.
So, what’s at stake?
Oh you know, just worldwide media supremacy. But as is customary, with industry altering deals, comes regulatory scrutiny. It remains to be seen how this will all play out.
Water Cooler Talking Point: “Sh*t just got real. This is why I love business: larger than life personalities, billions of dollars at stake and global supremacy on the line. It’s basically Billions in real life.”
GRAND THRIFT AUTO
Henry Ford was a master of innovation and efficiency. Case in point: creating the assembly line to cut costs and mass produce the automobile.
And Ford’s namesake company is taking a page out of the Gospel According to Henry. The Detroit mainstay plans to reduce costs by $11.5B, adding to its already massive cost-cutting initiative with the hopes of achieving an 8% profit margin ahead of schedule.
While the company announced a plan to cut 10% of its workforce last May, the most recent trim will target some of its current models. If you thought only card-carrying AARP members drive a Taurus or Fusion … you’re right. Those and other unprofitable models will be scrapped.
OJ’s preferred getaway vehicle manufacturer is doubling down on its truck and SUV lines. The move doesn’t come without risks as higher costs of steel will add to production costs. After reporting slightly higher than expected earnings yesterday, Ford might be firing on all cylinders.
Water Cooler Talking Point: “I didn’t even know they still made the Ford Taurus. Seriously, the last one I saw in the wild was my friend’s grandmother’s and we did donuts in the snow until the transmission fell out … and then did what any teenagers would do: run away. Not sure what happened to it … or his grandmother for that matter.”
IN OTHER NEWS
- Twitter and Facebook both topped earnings estimates. At the ‘Book, revenue increased 50% in Q1, indicating that advertisers DGAF about that little data breach.
- The NYSE halted trading of Amazon, Alphabet and other shares with four-digit prices due to a “glitch” (essentially this happened). Have no fear, the shares were trading regularly on other exchanges.
- It’s safe to assume that Huawei, a Chineses electronics company, isn’t a huge fan of the US government. The company’s ties to the Chinese government have come into question and now the Justice Department is investigating alleged violations of sanctions against Iran.
- Peter Thiel has abandoned his ambitions to buy Gawker.com, the media company he helped topple.
- Chevron evacuates executives from Venezuela after staffers were arrested as part of a government crackdown on corruption in state-run oil companies. This is the first case of arrests at a foreign-owned firm.
- US indices were mixed yesterday:
- DOW: +0.25%
- S&P 500: +0.18%
- NASDAQ: -0.05%