Also: Micron ban, Uber's DEI head on leave, 14th amendment.
Good morning.
In the great debate over the return to the office, Fortune 500 CEOs have clearly picked their side. Our new poll shows that 87% of them are now spending four days or more in the office each week.
And their expectations for workers are not far behind. Asked about their policy for in-office work in the coming year, 34% said they expected office workers to be in the office four or more days a week, and 40% said they expect them in three days a week. Only 15% of Fortune 500 CEOs either expect their office workers in two or fewer days each week, or are not requiring them to come to the office on a regular basis.
And when asked to name the other CEO in the Fortune 500 who they admire most, No. 1 on their list was Jamie Dimon—who has been clear, again and again, about his desire to see workers in the office on a regular basis. No. 2 was Satya Nadella of Microsoft and No. 3 was Tim Cook of Apple. Repeat mentions also went to Doug McMillon of Walmart and Marc Benioff of Salesforce.
Asked to name the Fortune 500 stock they would be most likely to invest in, the CEOs mentioned Apple most, Microsoft second, and Eli Lilly third.
More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
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Micron sales
On Sunday, Beijing banned operators of key infrastructure—a broad category including banks and water suppliers—from buying products from U.S. chipmaker Micron Technology, alleging “relatively serious” cybersecurity risks. Chinese regulators ordered a review of Micron earlier this year, which several analysts viewed as retaliation for the Biden administration’s rules barring sales of advanced chips to Chinese companies. Bloomberg
Uber DEI
The New York Times reports that ride-hailing company Uber placed its head of diversity, equity and inclusion on leave last week after employees complained about an event designed to discuss the experiences of white women. Black and Hispanic workers said the session, titled “Don’t Call Me Karen,” felt more like a lecture, and claimed executives were dismissive of their concerns.
14th amendment
U.S. President Joe Biden believes he could unilaterally allow the U.S. to continue borrowing past its debt limit, though he worries it might be too late to invoke this power before a potential default in early June. The president cited the U.S. Constitution’s 14th amendment, which states the “validity” of U.S. public debt “shall not be questioned,” in comments to reporters on Sunday. Biden and Speaker of the House Kevin McCarthy will meet Monday for further negotiations over the debt ceiling. Axios
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