Top 10 Favorite Business Stories Of 2013


As 2013 comes to a close the Evening & Weekend MBA Team has put together our Top 10 favorite business stories of 2013. These stories made us excited, shocked, appalled, restored our faith in humanity, and often left us confused. What are your favorite business stories from 2013?? Tweet us @BoothEveWknd or comment below!

NSA Scandal

Since Ex-NSA worker Edward Snowden blew the whistle on the alleged inappropriate actions of the NSA there has been an intensified firestorm of backlash against government access and ties to personal data obtained from businesses. According to reports, NSA broke into Yahoo! & Google data centers around the world, as well as cell phones, voicemail & cameras. The whistleblowing lead to public outrage, and questions about how businesses such as Yahoo! and Google protects and share user data. Edward Snowden is currently in Russia with pending US charges.

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Two words: Digital Currency.

Bitcoin is, an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world using peer-to-peer technology with no central authority.”

In 2013 the FBI seized over $28 million worth of bitcoin in the Silk Road black market shut down. Although bitcoin has been around for awhile, leading economists aren’t interested in this controversial currency. While bitcoin’s fate is yet to be determined, a few popular Internet companies currently accepting bitcoin are OKCupid, Reddit, Wordpress & Virgin Galactic.

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Apple iOs 7

Compared to the rollout debacle by President Obama himself, Apple iOs 7 has met mixed reviews as Apple’s newest product for it's loyal consumer base. Filled with glitches and necessary upgrades, iOs 7 has both made productivity easier and taken spare storage available on most iPhones & iPads. Will 2014 hold a better year for Apple operating systems? Only time will tell.

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#AskJPM twitter chat hijacked

Three golden rules of digital marketing reiterated: Know your audience, have a specific topic when hosting a Twitter chat, understand how to use your marketing tools. What will go down in history as one of the “best” examples of a twitter chat gone wrong, those running social media channels for JP Morgan failed to understand their audience and how other recent controversies within their company could have opened a can of worms, created drama and produced some of the funniest tweets ever posted.

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CBS/Time Warner Feud

Fueled by rising cost of programming, and disputes involving cable, satellite & national and local broadcast stations, Time Warner was just one of the largest media disputes in recent history. Time Warner lost over 300,000 subscribers during their dispute with CBS, who took those stations owned by CBS off the air for 1 month. It's estimated that 100,000-150,000 of the quarter's subscriber losses were due to the blackout. Time Warner lost an estimated $400,000 per day during this dispute that ended in September.

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Government shutdown:

In 2013 the US experienced the first partial Government shutdown since 1996 when Congress was unable to reach an agreement on their budget deal. Effects of the shutdown included Social Security Payments, Travel Abroad, Recreation, Federal taxes, medicare/veterans affair care, federal judiciary, health services and more. Citizens and businesses felt the clamp of the shutdown as furloughs affected over 800,000 employees who did not receive pay during the 17 day shutdown. It is estimated that the government shutdown cost $24 Billion.

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What happens when Facebook offers $3 Billion & Google offers $4 Billion to a popular, up & coming social media app? If you’re Evan Spiegel, founder of SnapChat, you turn down the offer. Some call it greedy, some call it a smart business move; however you look at it, 2014 will show if SnapChat, a company that generates zero revenue, bet on their app truly pays off.

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Amy’s Baking Company loses it on Social Media

Viewed as the most epic brand meltdown on Facebook ever, Amy’s Baking Company was just one of the many brands that exemplified the effects of not managing a social media channel with competency. This meltdown not only showcased examples of who employees called “worst bosses ever,” it also hurt their business and proved to be an excellent example of how not to use social media.

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WestJet give passengers heartwarming gift:

This story needs no explanation- grab a box of Kleenex & enjoy the video!

Amazon Introduces Amazon Air

It's a bird, it's a plane- no, it's a drone delivering your online purchases! While there are a number of gates Amazon must get through before this dream becomes a reality, Amazon's goal is to deliver customer's packages within 30 minutes from the time it is ordered. Amazon Air will be ready for takeoff in 2015.

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Eugene Fama wins Nobel

Recognized as the "Father of modern finance," Chicago Booth's very own Eugene Fama won Nobel Prize for his work in economics. He is strongly identified with research on markets, particularly with regard to the efficient market hypothesis. Through his research he has brought an empirical and scientific rigor to the field of investment management, transforming the way finance is viewed & conducted. Fama received his Nobel Prize in December of 2013.

Learn more about Eugene Fama & Chicago Booth’s legacy of Nobel Laureates: