Report from the Economist:  Family companies are much more than just half-formed public companies. They are a category of companies in their own right. They have unique advantages in the form of long-term thinking and concentrated ownership. They have unique disadvantages in the form of succession problems and family feuds. And they have unique ways of dealing with these problems. Given the sheer number of family companies of all sizes, and their economic importance, they deserve a lot more attention, in particular from three groups of people: business analysts, professional managers and theorists of the firm.

Another run from Wall Street finalized with negotiations reached. Google Inc. has agreed to pay Chief Financial Officer Ruth Porat more than $70 million after she begins in May, ranking her among the highest paid CFOs in the business.

Porat who will be resigning from her position as the CFO of Morgan Stanley will receive a signing bonus of $5 million along with a $25 million stock grant this year that will continue through 2017 says Google, after as of a regulatory filing on Thursday. In addition, the CFO is entitled to a $40 million biennial stock grant in 2016 and a salary base of $650,000 annually.

Patrick Pichette, current Google Inc. CFO announced he would step down this month. Porat is expected to leave Morgan Stanley sometimes in April and replace Pichette the following month on May 26th. Google said it would pay Pichette pro-rated outstanding equity grants that were set to vest in 2016 and 2018 to ensure “that he continues performing in the role until such time as Google determines that there has been a smooth transition to the new CFO” said a spokesperson for the company.

Porat was paid $40.3 million after her first four years serving as chief Financial Officer of Morgan Stanley. Her total pay for last year has not yet been disclosed. The powerful female CFO owned 920,000 Morgan Stanley shares amounting to $32.7 million as indicated by regulatory filling.

As Porat joins the great Wall Street migration to Silicon Valley, she will undertake the rivalry against Google’s competitors like Apple, Inc. and Facebook Inc. With over 25 years at Morgan Stanley, Porat should bring better fiscal discipline to the company so; Google can cut costs in order to invest in new businesses.

Other ex-wall street executives have enjoyed the same pay raise on the west coast. Anthony Noto, Twitter Inc. CFO received a one-time stock award of 1.5 million restricted shares vesting over four years amounting to nearly $65 million last July.  He served previously as a top banker at Goldman Sachs and the CFO of the National Football League.

The rush to the west is in part due to the lure of an overwhelming number of start-ups turning into gold mines practically overnight. Years of financial insecurity on Wall Street has redirected young college graduates to more promising avenues in “the golden state”. Robert Reffkin, who left Goldman Sachs in 2012 after 7 years to create his own real estate star-up Compass said, “Smart people go to where they feel there is the most growth.”

In a statement released last Tuesday, after Porat’s appointment was announced, Google Chief Executive Officer Larry Page said “We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive.”

Stephen Cook writes:  t is eight weeks before Turkey’s general elections, the end of a stretch that has lasted a little more than a year during which Turks will have gone to the polls three times to elect their Mayors, President, and now legislators. The extended electoral season, made difficult by Turkey’s polarization, has not dampened the Istanbul-Ankara elite’s appetite for rank speculation, however. In years past, much of this chatter centered on parties and politicians who were going to save Turkey from whatever crisis of governance had befallen the country. There was the businessman Cem Uzan and his Youth Party in 2002; the dream team of Ismail Cem and Kemal Dervis, who were going to lead the New Turkey Party to victory also in 2002; Kemal Kilicdaroglu, the man to reverse the slide of the Republican People’s Party into the party of Izmir and certain Istanbul neighborhoods; and, of course, Abdullah Gul, the man to wrest control of the ruling Justice and Development Party (AKP) from Recep Tayyip Erdogan. Uzan, however, was convicted of fraud in the United States and now lives in France, the New Turkey Party received a paltry 1.2 percent of the vote, Kilicdaroglu has presided over one defeat after the next, and Gul moved quietly from Ankara’s Cankaya Palace to Istanbul, where he seems to be enjoying retirement. So much for saving Turkey.

As this year’s vote approaches, speculation has focused not on a would-be charismatic leader riding to the rescue, but rather on the relationship between Prime Minister Ahmet Davutoglu and President Recep Tayyip Erdogan, and what it means for the future of Turkish politics. There seems to be a consensus among Ankara insiders and foreign observers that all is not well between the Prime Minister and the President. The deteriorating relationship between Davutoglu and Erdogan has given life to the idea that there is now a faction within the AKP capable of checking Erdogan and his apparent voracious appetite for power. It seems that the two most powerful figures in Turkish politics barely tolerate each other, but Davutoglu and his emerging faction—if it exists—do not stand a chance. Erdogan is, and will likely remain, the sun around which Turkish politics revolves. Turkey’s Erdogan