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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

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1

How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

The emerging deal to reopen the Strait of Hormuz reportedly recognizes Iran’s control—and the U.S. may have to accept it

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Broadsheet

The Broadsheet: August 17th

Kristen Bellstrom
By
Kristen Bellstrom
Kristen Bellstrom
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Kristen Bellstrom
By
Kristen Bellstrom
Kristen Bellstrom
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August 17, 2015, 7:39 AM ET
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Good morning, Broadsheet readers! Amazon gets nailed for its rough treatment of employees, a management expert sizes up Carly Fiorina, and Elaine Wynn moves on to her next act. Have a productive Monday.

EVERYONE'S TALKING

• A prime workplace? This fascinating—and terrifying—investigation of what it's like to work at Amazon reveals a company where all-nighters, crying at your desk, and aggressively criticizing colleagues is commonplace. Amazon also has a noteworthy gender gap, with no women on its senior leadership team. Some female employees say that the online retailer's leadership principles put them at a disadvantage and that bosses view motherhood as a liability. New York Times

ALSO IN THE HEADLINES

• Sizing up Carly, CEO. As Republican presidential candidate Carly Fiorina moves up in the polls, Yale School of Management senior associate dean Jeffrey Sonnenfeld assesses how she performed as CEO of Hewlett-Packard. His conclusion? "Pretty badly." Fortune

• After the hashtag. This story about an #ILookLikeAnEngineer networking event in San Francisco looks into what people are doing to advance the movement that Isis Wenger started when she created the anti-stereotype hashtag. Re/Code

• A Wynning collection. After building Wynn Resorts with her ex-husband, Elaine Wynn is now building her renown as a major arts patron and collector. Co-chair of the Los Angeles County Museum of Art (Lacma), she bought a Francis Bacon triptych for $142.4 million two years ago. Will the painting end up in Lacma? Perhaps, says Wynn: “I’m going to donate it to a museum of my choice before I go to the craps game in the sky.” New York Times

• Throwing fashion a curve ball. Size-12 model Candice Huffine is pushing to expand the boundaries of who appears in top fashion magazines and to remove the “plus” label from the industry vernacular. Washington Post

• Dowd vs. the Donald. New York Times columnist Maureen Dowd asks GOP candidate Donald Trump whether he would talk about Hillary Clinton's and Carly Fiorina's looks, why he thinks Rosie O’Donnell is a bully, and how he gets away with "rating" model Heidi Klum. ("Sadly, she's no longer a 10," Trump told Dowd.) New York Times

• Down with Dilma? Things are not looking good for Brazil president Dilma Rousseff. An estimated 25,000 protesters took to the streets Sunday to chant against Rousseff and her alleged corruption. This was the third mass protest this year.  Bloomberg

• Makeup maven to mogul. Michelle Phan sits down with Fortune to talk about how she turned her YouTube stardom into a budding beauty empire. Fortune

MPW INSIDER MONDAYS

Each week, Fortune asks our Insider Network — an online community of prominent people in business and beyond — for career and leadership advice. Here's some of the best of what we heard last week.

• Hiring the next you. Melissa Puls, CMO of Progress Software, writes that building a rock-solid team means being willing to hire someone capable of replacing you.  Fortune

• Keep your friends close... The best way to neutralize a competitive colleague is to befriend her, says Gloria Cordes Larson, president of Bentley University. Fortune

• Talent isn't everything. According to Sharon Price John, CEO of Build-A-Bear Workshop, no individual, no matter how brilliant, can outperform a cohesive team.  Fortune

IN CASE YOU MISSED IT

• The gift and the curse. In six of the last seven Olympic Games, the female gymnast who was reigning world champ failed to nab Olympic gold. Can Simone Biles, who just won her third national gymnastics championship, break the curse?  WSJ

• Dark web. In her new book, The Smart Girl's Guide to Privacy, investigative reporter and sex columnist Violet Blue writes about ways that female journalists—and other women—can protect themselves from Internet trolls. CJR

• I am Sam's Club. For wholesale retailer Sam's Club to survive, it needs to differentiate itself from its parent, Walmart. To take the stores out of direct competition with one another, CEO Rosalind Brewer plans to target a wealthier customer base, noting that “a winning model is when Walmart operates in their lane and Sam’s in their lane.”   WSJ

• A star in the kitchen. With two Michelin stars, Aquavit executive chef Emma Bengtsson is New York City's most decorated female chef. She talks to Fortune about why she turned down the job at first, what it's like to be a woman running a top kitchen, and what she does on her one day off per week. Fortune

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Looking for previous Broadsheets? Click here.

ON MY RADAR

The village where men are banned  The Guardian

H&M sister store features transgender models in ad campaign  Time

Janelle Monae brings powerful new protest song to the Black Lives Matter movement  Slate

Weight Watchers and the end of dieting  Racked

QUOTE

I probably would have made a hell of a lot more money by now. Because I have a personal brand, I have to worry about all this personal-image crap. I am constantly saying no to things because of it. If I didn’t, child, I think I’d be in the billionaires’ club.

Tyra Banks, on what she'd be doing now if she'd never been a model.
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By Kristen Bellstrom
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