GE CEO is stepping down; Qatar CEO says U.S. is fueling Gulf fire; Apple gets cored

Profitable Moment   Adults needed. Please apply The growing pains at Uber are painful to watch. Sexual harassment allegations, improper decisions, and a management that some regard as rogue. To have one crises is unfortunate...to have multiple crises in such a short period is careless, or worse. There is thankfully a road map for what should be done in these situations: Google.  The company brought in Eric Schmidt to run Google while the founders, Larry Page and Sergey Brin learned the ropes. Then famously, Schmidt  tweeted "day-to-day adult supervision is no longer needed" when he handed control to the younger execs. Uber needs to do something similar. Running a large company with thousands of employees requires more than chutzpah and bravado. At a minimum, it requires the realization that you are running a large company with thousands of employees. It's something that outside investors should have realized and instituted when they were pouring millions into the company. It would be a smarter investment if they would have suggested and offered management help, along with their money. Of course, in all of this, we should remember Uber is a tremendous success story that has revolutionized the way we book taxis and cars. Now, Travis Kalanick should show wisdom in getting to know what he doesn't know, and prepare himself properly to be a truly great CEO. -Richard.Quest@cnn.com  What's new... what's next   By Matt Egan, Patrick Gillespie, Julia Horowitz and Paul R. La Monica of CNNMoney 1. Jeff Immelt steps down at GE after 16 years Immelt oversaw the shedding of many GE departments, including NBC and much of GE Capital, a financial services business. It even plans to put its iconic light bulb business up for sale. The company has struggled this year, with its stock down 10% even as broader markets are up. John Flannery, a current GE executive, will take over as CEO starting August 1.  2. Airline CEO: U.S. 'fueling' the fire of Gulf crisis The boss of Qatar Airways has accused the U.S. of fanning the flames of the current showdown between Qatar and its Gulf neighbors. Akbar Al Baker told CNNMoney that the decision by Saudi Arabia, the UAE and other states to sever ties with the country amounted to an "illegal" blockade that the U.S. should be working hard to resolve. President Trump has endorsed the decision to isolate Qatar within the region, though some of his cabinet officials have said it hurts the campaign against ISIS. 3. The riskiest part about killing Dodd-Frank Less than nine years after the collapse of Lehman Brothers, the U.S. House has moved to gut Dodd-Frank. While the Financial Choice Act is dead on arrival in the Senate, some parts of the GOP bill could survive. The legislation repeals emergency powers that help authorities safely wind down the next Lehman. Supporters say this will end bailouts once and for all. Ben Bernanke and others warn that would be a big mistake. And it may even make bailouts more likely. 4. Apple cored: Stock falls on iPhone 8 worries The tech sector is starting to look vulnerable. Apple shares fell Monday, and other Nasdaq leaders -- as well as key iPhone suppliers -- tumbled too. An analyst at Mizuho Securities cut his rating on Apple, suggesting that good news about future iPhone 8 sales is already baked into the stock. It's the second downgrade of Apple in the past week. Apple may need to truly wow Wall Street and Silicon Valley with the iPhone 8 to get its stock moving up again. 5. Quick Takes: The great American retail gutting continues, as Gymboree files for bankruptcy Trump slams the media for failing to cover a nonexistent energy stock boom Call it "pandanomics?" This Tokyo zoo birth boosted restaurant stocks Maryland and D.C. are taking Trump to court over foreign payments Welcome to 2017: A top vodka brand is trolling the Trump administration 6. What's next: Uber's rocky road: As Mr. Quest detailed, the world's most valuable startup is facing a crisis over allegations of sexual harassment. Uber is expected to announce recommendations on Tuesday from an investigation into the company's culture run by former U.S. Attorney General Eric Holder. The startup is reportedly considering a leave of absence for embattled CEO Travis Kalanick. More D.C. drama: U.S. Attorney General Jeff Sessions has agreed to testify at a public hearing of the Senate intelligence committee on Tuesday. Sessions is likely to face questions about the firing of FBI director James Comey and his meetings with Russian ambassador Sergey Kislyak.   Verizon-Yahoo marriage is finally here: It's the end of an era for a former Silicon Valley titan. After more than two decades as an independent company, Yahoo's $4.5 billion sale to Verizon is expected to close on Tuesday. Yahoo and AOL have been slated to team up as a new digital company inside Verizon called Oath. Verizon expects to cut as many as 2,100 employees from the oddly-named venture. Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences