Latest news with #ManojBhargava
Business Wire
30-04-2025
- Business
- Business Wire
The Arena Group Announces Settlement of the litigation with Authentic Brands Group and Board Changes
NEW YORK--(BUSINESS WIRE)-- The Arena Group Holdings, Inc. (NYSE American: AREN) ('Arena'), a technology platform and media company home to hundreds of media brands, including TheStreet, Parade Media ('Parade'), Men's Journal, Surfer, Powder and Athlon Sports, today announced that it has reached a confidential settlement resolving all outstanding legal matters with Authentic Brands Group, LLC et al, Sportority, Inc. d/b/a Minute Media, and Manoj Bhargava. The financial terms of the confidential settlement are not material. As a result of the settlement, Arena has made significant improvements to its balance sheet, including the removal of approximately $93.9 million in accrued liabilities which Arena expects to record in its financial results for the second quarter of 2025. This development enhances Arena's financial position by $93.9 million and allows Arena to grow fast. Separately, Arena announced that the Board of Directors has accepted the resignations of Christopher Fowler, Laura Lee, Christopher Petzel, and Carlo Zola. Arena thanks each of these former Board members for their service and contributions and wishes them continued success in their future endeavors. Arena also announced the appointment of Lynn Petersmarck to its Board of Directors. Ms. Petersmarck brings extensive media experience and strategic insight that will support Arena's long-term vision and growth initiatives. About The Arena Group The Arena Group (NYSE American: AREN) is an innovative technology platform and media company with a proven cutting-edge playbook that transforms media brands. Our unified technology platform empowers creators and publishers with tools to publish and monetize their content, while also leveraging quality journalism of anchor brands like TheStreet, Parade, Men's Journal and Athlon Sports to build their businesses. We aggregate content across a diverse portfolio of brands, reaching over 100 million users monthly. Visit us at and discover how we are revolutionizing the world of digital media. Forward-Looking Statements This Press Release of The Arena Group Holdings, Inc. (the 'Company,' 'we,' 'our,' and 'us') contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Forward-looking statements relate to future events or future performance and include, without limitation, statements concerning our business strategy, future revenues and profitability, cost reductions, market growth, capital requirements, product introductions, expansion plans and the adequacy of our funding and our ability to alleviate the conditions that raise substantial doubt about our ability to continue as a going concern (as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on April 15, 2025 (the '2024 10-K')). Other statements contained in this Press Release that are not historical facts are also forward-looking statements. We have tried, wherever possible, to identify forward-looking statements by terminology such as 'may,' 'will,' 'could,' 'should,' 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and other stylistic variants denoting forward-looking statements. We caution investors that any forward-looking statements presented in this Press Release, or that we may make orally or in writing from time to time, are based on information currently available, as well as our beliefs and assumptions. The actual outcome related to forward-looking statements will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance, and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends. We detail other risks in our public filings with the Securities and Exchange Commission (the 'SEC'), including in Part I, Item 1A, Risk Factors, in the 2024 10-K. The discussion in this Press Release should be read in conjunction with the consolidated financial statements and notes thereto included in Part II, Item 8 of the 2024 10-K. This Press Release and all subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date of this Press Release except as may be required by law.
Yahoo
02-04-2025
- Business
- Yahoo
Beverage billionaire dismisses silly corporate titles
The following story is true: The names have been withheld to protect those involved from any further embarrassment. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Executive perks are a key part of the business world. You want to attract or retain the top people at your company, you're expected to crack open your wallet and make it rain. "To be successful, companies need to attract and reward leaders who create value over the long term, but executive remuneration often focuses on short-term targets," Harvard Law School's Forum on Corporate Governance said in a 2023 study. "It's no surprise that executive remuneration stands out as one of the most visible and closely examined aspects of a publicly listed company's corporate governance program," the report noted. A closer examination of executive perks will turn up some real whoppers. You'll find tales of $2 million birthday parties for the CEO, a corporate jet employed to take the top executive's daughter to high school, and the head honcho having company employees clean his home and mow his lawn. And then — answering the existential question "are there perks after death?" — one executive had the mother of all noncompete clauses, which saw him or his heirs paid $15 million to keep him from competing after he left the company — even if he died. 2025 stock market forecasts Veteran trader who correctly picked Palantir as top stock in '24 reveals best stock for '25 5 quantum computing stocks investors are targeting in 2025 Goldman Sachs picks top sectors to own in 2025 Every major Wall Street analyst's S&P 500 forecast for 2025 Manoj Bhargava has seen his share of wacky corporate behavior. The billionaire philanthropist and corporate executive, who founded 5-hour Energy drinks, described one particularly nutty tale in his podcast The Business of Everything With Manoj. "There was this big insurance company," he said. "This guy got assigned to an office and he was at a level where you got wall-to-wall carpeting; he got brand new everything. Then they moved him to another office. So, then a new guy got his office." No big deal, right? Just a little bit of executive shuffling to make sure everybody's in the right place. But there was a slight problem. It seems that the incoming executive was not at the proper level and thus did not rate an office with wall-to-wall carpeting. What's a company to do? We'll let Bhargava tell you. "They cut a foot all the way around the carpet because he doesn't qualify for wall-to-wall carpeting," he said. "The number of silly things that happen in these companies is astounding." No argument there. And while the Harvard study doesn't specifically address carpeting, the report did say that "investors are increasingly demanding that compensation be justified by superior performance." Bhargava, majority owner of TheStreet's parent, The Arena Group () , also has little use for corporate titles. And some real beauties are out there. One company calls the market director the Wizard of Light Bulb Moments. Another organization dubs its website manager the Digital Overlord, while still another outfit calls the software developer a Code 2021, Elon Musk, the chainsaw-wielding Duke of DOGE, officially changed his title at Tesla () from CEO to Technoking. Zach Kirkhorn, the electric vehicle company's chief financial officer at the time, was rebooted as the Master of Coin. The tricky title trend can be traced back to the rise of the tech sector. 'New companies, young leaders and exponential growth in that industry seem to have led to a trend away from traditional job titles," Bruce Thibodeau, president of Arts Consulting Group in Boston, said in an interview with But be advised that having a cool-sounding title may put a chill on your next career move. 'Many hiring managers review hundreds of resumes and don't necessarily have time to figure out if a 'visionary of resource utilization' is the same as a 'chief financial officer,'" Thibodeau said. Bhargava has a much simpler approach. "Internally everybody's title is a project manager," he said. "You have a project and you manage it. For external purposes, we may give someone a title, like El Supremo, your majesty, I don't care. For external purposes you have to because they want to deal with somebody important." Bhargava has declared someone the director of something but just for the day. "It's the work guys, it's not the title," he said. "And if you're looking for title upgrades, go to a bank. You're at the wrong place. You could be a teller and the next thing you know you could be assistant associate vice president." While the name game can be funny, Bhargava warned, title creep can also be destructive. "Then people are chasing titles, he said. "In our company nobody cares because there's nothing to chase."Sign in to access your portfolio
Miami Herald
01-04-2025
- Business
- Miami Herald
Beverage billionaire dismisses silly corporate titles
The following story is true: The names have been withheld to protect those involved from any further embarrassment. Don't miss the move: Subscribe to TheStreet's free daily newsletter Executive perks are a key part of the business world. You want to attract or retain the top people at your company, you're expected to crack open your wallet and make it rain. "To be successful, companies need to attract and reward leaders who create value over the long term, but executive remuneration often focuses on short-term targets," Harvard Law School's Forum on Corporate Governance said in a 2023 study. "It's no surprise that executive remuneration stands out as one of the most visible and closely examined aspects of a publicly listed company's corporate governance program," the report noted. A closer examination of executive perks will turn up some real whoppers. You'll find tales of $2 million birthday parties for the CEO, a corporate jet employed to take the top executive's daughter to high school, and the head honcho having company employees clean his home and mow his lawn. And then - answering the existential question "are there perks after death?" - one executive had the mother of all noncompete clauses, which saw him or his heirs paid $15 million to keep him from competing after he left the company - even if he died. 2025 stock market forecasts Veteran trader who correctly picked Palantir as top stock in '24 reveals best stock for '255 quantum computing stocks investors are targeting in 2025Goldman Sachs picks top sectors to own in 2025Every major Wall Street analyst's S&P 500 forecast for 2025 Manoj Bhargava has seen his share of wacky corporate behavior. The billionaire philanthropist and corporate executive, who founded 5-hour Energy drinks, described one particularly nutty tale in his podcast The Business of Everything With Manoj. "There was this big insurance company," he said. "This guy got assigned to an office and he was at a level where you got wall-to-wall carpeting; he got brand new everything. Then they moved him to another office. So, then a new guy got his office." No big deal, right? Just a little bit of executive shuffling to make sure everybody's in the right place. But there was a slight problem. It seems that the incoming executive was not at the proper level and thus did not rate an office with wall-to-wall carpeting. What's a company to do? We'll let Bhargava tell you. "They cut a foot all the way around the carpet because he doesn't qualify for wall-to-wall carpeting," he said. "The number of silly things that happen in these companies is astounding." No argument there. And while the Harvard study doesn't specifically address carpeting, the report did say that "investors are increasingly demanding that compensation be justified by superior performance." Bhargava, majority owner of TheStreet's parent, The Arena Group (AREN) , also has little use for corporate titles. And some real beauties are out there. One company calls the market director the Wizard of Light Bulb Moments. Another organization dubs its website manager the Digital Overlord, while still another outfit calls the software developer a Code Monkey. Related: Beverage billionaire has sharp words for consultants In 2021, Elon Musk, the chainsaw-wielding Duke of DOGE, officially changed his title at Tesla (TSLA) from CEO to Technoking. Zach Kirkhorn, the electric vehicle company's chief financial officer at the time, was rebooted as the Master of Coin. The tricky title trend can be traced back to the rise of the tech sector. "New companies, young leaders and exponential growth in that industry seem to have led to a trend away from traditional job titles," Bruce Thibodeau, president of Arts Consulting Group in Boston, said in an interview with But be advised that having a cool-sounding title may put a chill on your next career move. "Many hiring managers review hundreds of resumes and don't necessarily have time to figure out if a 'visionary of resource utilization' is the same as a 'chief financial officer,'" Thibodeau said. Bhargava has a much simpler approach. "Internally everybody's title is a project manager," he said. "You have a project and you manage it. For external purposes, we may give someone a title, like El Supremo, your majesty, I don't care. For external purposes you have to because they want to deal with somebody important." Bhargava has declared someone the director of something but just for the day. "It's the work guys, it's not the title," he said. "And if you're looking for title upgrades, go to a bank. You're at the wrong place. You could be a teller and the next thing you know you could be assistant associate vice president." While the name game can be funny, Bhargava warned, title creep can also be destructive. "Then people are chasing titles, he said. "In our company nobody cares because there's nothing to chase." Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
