• Start Up

    3 Reasons Why a Strong Purpose Is a Good Business Idea

    August 10, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. Most entrepreneurs enter that space because they want to create a positive impact on the world. They have a purpose and a mission. They see a problem; they find a way to solve it. The reasons why we do the things that we do are everything. However, it can be all too easy to lose sight of this as we go further down the road. As investors demand returns, or as revenue demands become more pressing. As we start to work longer hours, and as our own ego starts to get in the way. However, purpose and…

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  • Finance

    What is Trump’s payroll tax holiday and how will it affect you? Everything you need to know

    Amid a standstill in Congress over a fresh round of stimulus, President Trump issued several executive orders over the weekend to fast-track some economic aid initiatives to deal with the continued fallout from the coronavirus pandemic. One key order is a so-called payroll tax holiday—which would put a moratorium on paying certain payroll tax until next year. The order has already been met with a lot of criticism, including that the tax deferral wouldn’t help the people who might need it most who have lost their jobs and aren’t currently paying payroll tax. Meanwhile, there’s a catch: the order is only a deferral of the taxes, so it won’t forgive…

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  • News

    Lucid challenges Tesla with a luxury EV sedan that has a record 517 miles of range per charge

    The Lucid Air sedan is expected to go into production at a plant in Arizona in 2021. Lucid The first all-electric car from Lucid Motors is expected to set a new industry benchmark — and record — with more than 500 miles of range per charge, easily topping leading EVs from Tesla, General Motors and others. The California-based start-up Tuesday said its Lucid Air sedan is estimated to achieve an EPA-rated range of 517 miles on a single charge. The results were verified by engineering consulting firm FEV North America. “It’s unprecedented. It’s a big step forward,” Peter Rawlinson, Lucid Motors CEO and chief technology officer, told CNBC. “How we were…

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  • Leadership

    What do you do when your business disappears overnight?

    This is the web version of CEO Daily. To get it delivered to your inbox, sign up here. Good morning. What do you do when your business disappears overnight? That’s what happened to Hyatt CEO Mark Hoplamazian in April, when the pandemic cut the hotel company’s global business by 94{4bae5313c1ffa697ce99995897f7847f1ebf3bca0fb7c37396bb602eb24323d3}. “A shocking loss of demand,” he said.  “We had never been in anything quite like it.” Hoplamazian was my guest this week on the podcast Leadership Next (Apple/Spotify). I was eager to talk with him because he’s always struck me as a leader with a strong focus on Hyatt’s corporate purpose, which is rooted in empathy—caring for employees so in turn…

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