• JPMorgan CEO Jamie Dimon insists “there’s nothing wrong with disagreement,” while urging workers to step outside of their lane and challenge the status quo. That mindset will be more important than ever as Donald Trump’s unrelenting tariff campaign sends global stock markets into turmoil. The Wall Street boss also shared management mistakes and tips in his recent shareholder letter.

Staying in your lane is a surefire way to avoid getting into trouble. With workplace incivility and layoffs on the rise, it may be more tempting than ever to keep your head down. But according to Jamie Dimon, it “is a bureaucratic, stupid direction”—and it’s a mindset that won’t get workers or their employers ahead in the current climate. 

“Absolutely do not stay in your lane,” the CEO of JPMorgan Chase wrote in his annual shareholder letter published Monday. “Our biggest mistakes happen when people think something is kind of a problem, but they are afraid to raise it in the right room where it might be provocative.” 

“There’s nothing wrong with disagreement. Ever.”

The Fortune 500 CEO said every single person in his company’s 320,000-strong workforce is responsible for the $700 billion financial services company’s success.

“You, individually, are responsible. And you know more than you think,” the 69-year-old said, adding it’s why he’s going to ask every worker to email him changes they’d like to see at the firm. 

“I’m just asking you to sit down and have a little fun thinking about the stupid stuff we do, the bureaucratic stuff we do,” he added. “You’ve got something to say? You want to add something? You want to check out something? You think something doesn’t make sense? Please bring it up. Too many people stay in their lane.”

In the end, he writes, “complacency, arrogance, bureaucracy and BS kill companies.”

Dimon’s call for out-of-the-box thinking and agility has never been more urgent. As he writes in his shareholder letter, companies must “move quicker, coordinate better, and do things at a faster speed” to navigate the growing uncertainties of tariffs, interest rates, and geopolitical tensions. 

The world, Dimon warns, is entering a period of “considerable turbulence,” and today’s decisions may determine which companies sink or swim. 

Other management mistakes 

Although Dimon slammed siloed workers who stay in their lane as the leading cause of mistakes, he also called out another corporate “sin”: hoarding information. In his annual shareholder letter, the Wall Street CEO didn’t hold back, describing it as a “disease” that undermines success.

Dimon shared an example from his early days as CEO of Bank One to illustrate his point. During a visit to Louisville, he noticed a competitor’s branch across the street operated from 9 a.m. to 5 p.m., while his bank’s hours were 10 a.m. to 4 p.m. 

After a quick audit, Dimon discovered Bank One’s branches were, on average, open two fewer hours each day than rival banks—a competitive blind spot hiding in plain sight. The revelation triggered a company-wide overhaul of branch hours.

What stunned him wasn’t just the oversight—it was that “not one salesperson, not one branch manager, not one regional manager, not one district manager” had spoken up. The implication? Employees kept quiet to avoid working extra hours and tanking morale, an unspoken trade-off that cost the business.

Other past mistakes the bank leader says he made include underestimating the importance of cloud technology, leaving the wrong person in a job for too long, and failing “to recognize some early signs of risk.”

5 management tips from Jamie Dimon

Dimon ended the “management learnings” section of his letter with a series of tricks and tools, including writing your own memos, always giving meetings your full attention, and never wasting time re-reading emails:

1. Be a skeptic, but not a cynic
   “While leaders should celebrate successes, it’s still important to emphasize the negatives and focus on continuous improvement. Be a skeptic but not a cynic. Utilize management techniques that work.”
2. Write memos yourself
   “I’m a big fan of this one… Don’t always let others write [memos] for you. Similarly, when I ask someone a question, I want to hear directly back from that person, not their boss’s boss up the chain. And if I call that person directly, I want to talk to them. And share all the facts. Don’t hoard facts. The facts don’t lie.”
3. Make meetings count
   And turning to meetings, if one is required, make it count. I ALWAYS do the pre-read. I give it 100% of my attention. I see people in meetings all the time who are getting notifications and personal texts or who are reading emails. This has to stop. It’s disrespectful. It wastes time.” 
4. Write your own press releases
   “If you’re going to a meeting to present a new product or service, write a press release about it. This exercise forces you to answer lots of questions people are likely to ask. When you write down what you’re going to say, it focuses the mind and helps you explain things better.”
5. Action emails immediately
   “Work smarter, not longer. Don’t read the same email two or three times. Most can be addressed immediately. And while this all sounds serious, make work fun. We spend the vast majority of our waking hours at work – it’s our job to try to make it fun and fulfilling.”

This story was originally featured on Fortune.com

Republic Airways and Mesa Air Group Inc. are combining in an all-stock deal that will create a regional airline with access to more planes to service routes.

Specific financial terms of the deal weren’t disclosed in a statement Monday.

Republic, started in 1974, has a fleet of more than 240 Embraer 170/175 aircraft and carried about 17.5 million passengers on more than 300,000 flights last year. It mostly serves Northeast and Mid-Atlantic hubs and operates exclusively under long-term capacity purchase agreements with American Airlines, Delta Air Lines and United Airlines.

Mesa Air Group, founded in 1982, is the holding company of Mesa Airlines, a regional air carrier that offers service to 89 cities in 40 states, the District of Columbia, the Bahamas, Canada, Cuba, and Mexico. It runs a fleet of 60 Embraer 175 aircraft with more than 250 daily scheduled departures and has approximately 1,700 employees.

Mesa operates all of its flights as United Express under the terms of a capacity purchase agreement with United Airlines.

The combined airline will have a single fleet of approximately 310 Embraer 170/175 aircraft, with more than 1,250 daily departures. It will continue to serve American Airlines, Delta and United Airlines and anticipates keeping all flight crews, technicians, and other operational staff.

“Republic and Mesa share a common mission to connect communities across America, and we believe that we can better achieve that mission together,” Republic President and CEO Bryan Bedford said in a statement on Monday. “With this combination, we are establishing a single, well-capitalized, public company that will benefit from the deep expertise of Republic and Mesa associates, creating value for all stakeholders well into the future.”

The combined company will be called Republic Airways Holdings Inc. and will be listed on the Nasdaq under the new ticker symbol “RJET.” Its board will include six existing directors from Republic’s board and one independent director from the Mesa’s board.

Once the transaction closes, Republic shareholders will own 88% of the combined company’s stock. Mesa shareholders will own at least 6% and up to 12% of the combined company, dependent on achieving certain pre-closing criteria. All outstanding Mesa debt obligations will be extinguished as a result of the transaction.

Both companies’ boards have approved the deal, which is targeted to close in either the late third or early fourth quarter. It still needs approval from the shareholders of both companies.

Shares of Mesa Air Group, based in Phoenix, Arizona, surged more than 67% to $1.20 before the market open.

This story was originally featured on Fortune.com

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• Billionaires are feeling the burn amid fallout from Trump’s tariff announcement—with the stock market crash leading to names like Warren Buffett, Larry Ellison, and Mark Zuckerberg losing billions in a matter of hours.

President Donald Trump’s tariffs on more than 180 countries and territories are causing havoc across the global market, with the S&P 500 nearing bear market territory early Monday.

These dramatic market declines are hurting investors small and large—from the 401(k) savings accounts of single families to the elaborate holdings of the world’s richest individuals.

In fact, Warren Buffett, Larry Ellison, and Mark Zuckerberg each lost close to $10 billion by the end of the trading day on Friday alone, according to Bloomberg’s Billionaire Index; the world’s 500 richest people experienced the biggest two-day losses ever on April 3 and 4, thanks in part to popular tech stocks, like Nvidia, Amazon, and Meta seeing billions in value wiped out.

And even those close to Trump are feeling the pain. Elon Musk, the founder of Tesla and SpaceX, has lost the most of any person on Earth. On Friday, his net worth declined by $20 billion—with year-to-date declines totaling over $130 billion. Despite the losses, he’s still the world’s richest man.

Many signs point to further economic turmoil. European, Asian, and American markets all tumbled to start the trading week and could set the stage for one of the biggest declines in billionaire wealth in memory.

One billionaire is still net positive in 2025

One widely known billionaire sticks out from the rest due to his stock market gains remaining positive in 2025. Warren Buffett appears to have predicted a market turn coming. He sold some $134 in equities in 2024 and was sitting on $334 billion in cash at the end of the year. In 2025, he is up by about $12 billion and is the sixth richest person in the world, just behind Bill Gates and Bernard Arnault.

“We were aided by a predictable large gain in investment income as Treasury Bill yields improved and we substantially increased our holdings of these highly-liquid short-term securities,” Buffett wrote to shareholders in February.

While Buffett, too, lost billions last week, his better performance could also be tied to his heads-down approach of staying away from politics—or his simple attitude that prioritizes being thrifty and sensible.

The billionaire club might finally become more exclusive 

Buffett is one of the longest-serving members of the billionaire club, a group that saw record growth in 2024—with the wealth of the richest of the rich increasing three times faster than the year before. Moreover, in early January, billionaires were earning some $10 billion a day and holding more wealth than any country except for the U.S. and China.

If the stock market conditions continue to trend down, a tide could turn on the growing wealth of billionaires, but the losses may not feel as significant as they may for the Americans who were hoping to retire this year or are struggling to grapple with inflation and a frustrating job market.

Nearly three-fourths of all Americans believe wealth inequality is a “serious national issue,” according to a recent survey, and 46% conclude that billionaires hoarding wealth make it harder for ordinary people to achieve the American Dream.

This story was originally featured on Fortune.com