Do Star CEOs Turn Around Troubled Companies? And the Economics of the Olympics

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Former tech darling, Yahoo, has been struggling in a world dominated by Apple, Amazon, Google and Facebook. Even with an estimated 700 million users around the world, it’s had difficulty turning that reach into profits.  This week, the company reported that revenues were down 1 percent for the quarter that finished June 30, and profits fell to $226 million from $237 million a year earlier.

But now it thinks it can change all that.  

Yahoo, like many other struggling companies, has hired a celebrity in the business tech world of Silicon Valley:  Marissa Mayer, a successful and prominent executive at Google.

Can she turn the company around?  Do “star” CEOs work?

Rana Foroohar of Time and Joe Nocera of the New York Times weigh on the search for the corporate savior.

And the Olympics start next week, but for cities hosting the games, does it make economic sense?