Postcards

Power Point: How to lose your job gracefully

"Not that materialism is going to go away, but people are looking to be better global citizens and live their lives in better balance."

-- Former Viacom (VIA.B) CEO Tom Freston, who Pattie profiles in the new issue of Fortune. To Freston's point, he's now helping Oprah Winfrey develop her new cable TV network, OWN, and working with U2 frontman Bono on his global humanitarian efforts. Does Freston still get calls MORE

Discount retail woes: a quick tour

by Mina Kimes

While Wal-Mart (WMT) rules--its January same-store sales were up, beating expectations--other discount retailers are stumbling. Target (TGT) reported a 3.3% decline. Costco Wholesale's (COST) January comp sales were flat in the U.S. and down 9% abroad. That news yesterday--along with a warning by Costco management that second-quarter earnings would fall "substantially below" consensus--sunk the stock 7%. And while it's up slightly today, the shares are trading at their MORE

Power Point: Always be authentic

"Is it authentic? Money is not the issue...I don't want to do it if it doesn't feel authentic."

-- NBA star LeBron James in a 2007 Fortune cover story. Last night, James became the fastest player in NBA history to score 12,000 career points--at the ripe age of 24 years and 35 days. He eclipsed Los Angeles Lakers star Kobe Bryant, who held the record at 25 years and 220 days. MORE

Behind Oprah's big new TV venture

"You know I believe in signs."

You probably don't know that about Oprah Winfrey since you're not sitting around watching Oprah at 4 p.m. each day. (Rather, you're trying to keep your job, aren't you?)

But the queen of media mentioned this to me when we were talking about Tom Freston, the former Viacom (VIA.B) CEO whom Sumner Redstone fired in 2006 and Winfrey immediately went after. (Read "The Most Wanted Man MORE

Power Point: Keep adapting

"Competition for people's time is increasing and the abundance of choice is allowing consumers to be more selective."

-- Walt Disney (DIS) CEO Bob Iger, announcing a 32% quarterly earnings decline that dragged Disney's stock down 7% to $19.15 in after-hours trading.

Iger's point is that Disney's problems extend beyond the recession. "In essence, we don't believe the changes we are seeing in consumer behavior can all be attributed to a weak MORE

Viacom's Freston moves on...to Oprah and Bono

Want to read a story about failure and redemption? About sitting at the top of the business world and losing it all suddenly? About discovering that success wasn't so sweet and finding a better calling?

Check out my hot-off-the-presses profile of Tom Freston. He's the guy who built MTV and rose to be CEO of Viacom (VIA.B), only to be dumped by Sumner Redstone, Viacom's owner, on Labor Day 2006. Freston MORE

Power Point: What legends are made of

"I said, 'It's now or never, guys. You'll be remembered forever if you do this.'"

-- Ben Roethlisberger, quarterback of the Pittsburgh Steelers, the only NFL franchise in history to win six Super Bowls. His words preceded the play that won the Steelers their 27-23 vistory over the Arizona Cardinals. Another hero last night: Steelers coach Mike Tomlin, who at 36 is the youngest head coach ever to reach the Super MORE

Power Point: No bonus for me!

"I felt it was the right thing to do. We are a company that expects the highest performance and accountability, and that starts at the top."

- AT&T (ATT) CEO Randall L. Stephenson, in a memo to employees about forgoing his 2008 bonus. Here's a boss who (unlike the Wall Street honchos) didn't have to give it up. In fact, Stephenson's decision distinguishes him as a very different kind of leader MORE

AT&T CEO declines bonus, breaks from predecessor

by Stephanie Mehta

Pattie Sellers recently blogged about good and bad corporate behavior.  Here's another example to add to the "good form" category: AT&T chief Randall L. Stephenson is forgoing his 2008 bonus.

"I asked the board not to pay me a bonus for 2008, and they approved that request," Stephenson wrote in a memo to employees. "Given the economic environment, the workforce reductions, and our earnings outlook for 2009, I felt MORE