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SoftBank doubled payments to Vision Fund bosses because the company posted a record loss

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SoftBank funds tech giants. But they're not all successes

Misra earned 1.61 billion yen ($ 15 million) in total compensation for the fiscal year ending in March, more than double her salary a year earlier, SoftBank said in filing a regulation on Friday. Most of the packages, nearly 1.42 billion yen ($ 13.2 million), are the principal payments, with the rest recorded as “other” compensation.

Meanwhile, the Vision Fund suffered an operating loss of 1.9 trillion yen ($ 17.7 billion) for the period. Grappling with business missteps and the impact of the coronavirus pandemic, SoftBank had to write down 47 company evaluations in the fund, including startups such as WeWork and Oyo.

Misra’s compensation package is “high,” and “it’s hard to see how it can be based on performance,” said Dan Baker, an analyst with research company Morningstar. SoftBank did not immediately respond to requests for comment.

SoftBank founder Masayoshi Son said at an earnings presentation earlier this month that he estimated that around 15 of the 88 Vision Fund portfolio companies went bankrupt.

Son earned 209 million yen ($ 1.9 million), a 9% salary discount compared to the previous year. About 40% of that is paid in stock options.

Although Son’s salary is low compared to Misra and several other executives, he also has a 22% stake in the company which is worth around $ 20 billion. Estimates of his net worth vary: Forbes peg in $ 23.4 billion, while Bloomberg score list $ 15.1 billion.
The salary increase for Misra, which serves as the chief executive officer of SoftBank Investment Advisors, arises when a startup that collects billions of dollars from the Vision Fund has laid off thousands of workers. He was the company’s second highest-paid executive last year.
Marcelo Claure, SoftBank’s chief operating officer, took the top spot, earning 2.1 billion yen ($ 19.6 million). The former executive of the telecommunications company was tasked with reversing WeWork. He also helped the merger T-Mobile (TMUS) and Sprint (S.) cross the finish line.
Executive salary in Japan generally lower than in the United States. A December study from advisory firm Willis Towers Watson found that the average CEO payment in Japan was 156 million yen ($ 1.5 million) in 2018, compared to $ 13.7 million for CEOs in the United States.

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FESTin returns to distribute Portuguese-language cinema worldwide | Cinema

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FESTin returns to distribute Portuguese-language cinema worldwide |  Cinema

For the 13th edition, FESTin’s mission remains the same: “Bring cinema in Portuguese to the whole world.” So says co-director Adriana Niemeyer by phone with PÚBLICO on the eve of the start of the film festival, which starts this Friday and runs until next week, ending on Wednesday the 14th at LX Factory at 7:00 pm, in Espaço Talante, inside the bookstore Ler Devagar , with a screening of four Brazilian short films chosen by Antonio Grassi, the actor in charge of the space, followed by a toast.

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VARIOUS. Portuguese project that wears a shirt for mental health

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VARIOUS.  Portuguese project that wears a shirt for mental health

Little phrases with big meaning sometimes fit into T-shirtright now in bag da Ivory, a project that began in the year of the pandemic and has been interventionally warning about mental health issues ever since.

Francisco Soares Ganzo, the founder, first suffered a panic attack when he was in 10th grade, but ended up not paying much attention to signs that something was wrong. Then the mental health problem reappeared later, at a different stage in life and with different symptoms.

“Four years ago, I started experiencing constant anxiety, to the point that I couldn’t sleep,” says 25-year-old Francisco Versa. “Basically, I put a lot of pressure on myself from the women with whom I had relationships. It was Wednesday masculinity, competition,” he continues.

Early adulthood began with this “almost obsession to be with women” and get the best. performanceto the point where he became very anxious whenever he had sexual relations with a woman.

“The peak was when I couldn’t sleep. My brain was always on and I started taking pills to help me sleep,” says Francisco.

In 2019, he decided to see a therapist rather than a psychologist because he thought it was only “for wimps”, but it wasn’t, and Francisco later figured it out.

Today, he wants to convey the same message, and to do so, he created the Ivory project in 2020, consisting of clothes and accessories with special messages that form a bridge to the necessary incentive for those in need of help.

“When I finally worked up the courage to ask for help, I was like, ‘Wow, I wish I had started sooner. That’s why I started this project. I lacked something that would motivate me to go to therapy earlier. clothes are meant to spread information,” he says.

But Ivory goes far beyond what is written in sweatshirts and accessories.

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Help that comes in order

“Everyone you know is fighting a battle you know nothing about.”

This is one of the messages recorded in t-shirts e sweats from ivory. It’s simple and affects everyone in their own way, but the focus of the Ivory team – also with a past or present marked by mental health issues – is not the phrases on the T-shirts, but what follows them.

“To say that mental health is talked about a lot is a lie. What I mean? When I hear the news that companies are very concerned about mental health or that it has become fashionable with COVID-19, it is all a lie. What people say is vague. Nobody tells stories. A person who is really bad, like I was, does not need to hear that he should go to the gym or eat well. He needs to hear a story like this.” .

Ivory’s next step is to create a space for sharing testimonies through Appendixjust to address this shortcoming. Until then, the project intends to function as anxiety And further to support in the field of mental health.

“For every order we have, a person receives Email mail to make an appointment. Because our goal is to really open doors, to do something that I didn’t have, ”says Francisco. “I feel like a lot of people buy ivory because they’re in bad condition, but they don’t want to take the next step to take care of themselves.”

If encouragement is not enough, an ivory sweater will be cozy and Email mail gives you the push you need to make an appointment with one of Ivory’s psychologists. All it takes is an Instagram post or an email.

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Sweaters and bags 100% organic cotton and mobile phone cases with phrases coined by Francisco Soares Ganzo and designs created by the whole team can be ordered at website.

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Portuguese government creates support lines for travel companies

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Portuguese government creates support lines for travel companies

From the newsroom with Lusa

Secretary of State for Tourism, Trade and Services Nuno Fazenda announced on the 8th in the Azores two lines of support for companies with a global allocation of 100 million euros, measures that he believes meet the requirements of the sector.

“The Government will provide in the first days of January a new line – Consolidate + Tourism Line, with an allocation of 30 million euros, managed by Turismo de Portugal and dedicated to micro and small companies in the sector, which have difficulties in managing debts that have arisen, in particular, during pandemic,” he said.

The official spoke at the opening ceremony of the 47th National Congress of the Portuguese Association of Travel and Travel Agencies (APAVT) in Ponta Delgada, Sao Miguel, in the Azores.

According to Nuno Fazenda, with this line, companies will be able to “finance themselves with Turismo de Portugal without interest to repay part of the refunds due to banks during 2023, with a grace period of two years and a full repayment period of six years.”

This, he added, will allow companies to “soften and expand their capital needs over time.”

A line that, he emphasizes, “meets the demands of the industry.”

“This is a need for companies and we have the answer,” he also emphasized in front of an audience of businessmen and after listening to the addresses of the presidents of the Portuguese Tourism Confederation (CTP) and the Portuguese Association of Travel and Travel Agencies (APTA) in his speeches.

“The Government will also ensure this year the implementation of the measure to strengthen the support program agreed with the Portuguese Tourism Confederation last October in the context of the Income, Wage and Competitiveness Improvement Agreement. This is the grant of 70 million euros to companies in the sector on a non-refundable basis, which reinforces the amounts already received under the Apoiar program,” Nuno Fazenda later said, adding that it was “another response – very important – for the companies.”

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These two measures represent 100 million euros for companies worldwide.

“It’s called doing. And do it with a sense of urgency. When confronted with difficulties, the government must respond with action. Do. And this is a verb that we are already conjugating,” he said, continuing the theme of the 47th APAVT Congress: “Fazer”.

The Secretary of State also recalled that companies are “the engine of the economy”, given that the country “has leading companies” and that it is necessary to “continue to support companies and investments.”

Nuno Fazenda also mentioned that the government is already working on securing other areas of support for companies, which should be announced in the first quarter of next year.

“In European funds, companies and tourism are a priority. Company funding increases by 90% from Portugal 2020 to the total amount provided for in Portugal 2030 and PRR. [Plano de Recuperação e Resiliência]🇧🇷 I repeat, this is a 90% increase in support for companies within the next cycle of European funds. At PRR, we expect to sign a contract very soon to accelerate and transform the tourism agenda. This is an investment of 151 million euros with investments of a business nature, which are very important for the climate and the transition to digital technologies,” he listed.

The official said simplification is also a priority.

“Without losing rigor and transparency, we must continue our efforts to reduce bureaucracy in order to make the state’s actions with companies and citizens more flexible and faster,” he concluded.

About 750 congressmen are participating in the APAVT convention, which will last until Sunday.

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