Business Diary: Kenneth Cole: how low can you go?
Saturday 05 February 2011
Kenneth Cole likes to portray itself as an upmarket fashion brand but a couple of recent tweets are about as low as you can get. Opining on events in Egypt KC had the following to say: "Millions are in uproar in #Cairo. Rumor is they heard our new spring collection is now available online at http://bit.ly/KCairo -KC"
Then someone (belatedly) engaged their brain. A few minutes later came the following: "Re Egypt tweet: we weren't intending to make light of a serious situation. We understand the sensitivity of this historic moment -KC." Too little. Too late.
Goldman gets yet another kick
Once it seemed that everything Goldman Sachs touched turned to gold. Now the Midas touch has gone into sharp reverse. The latest brickbat comes from Bloomberg Markets Magazine, which has found a very unflattering picture of chief executive Lloyd Blankfein alongside the the headline "Lloyd Blankfein's headache: Goldman Sachs is an also-ran when it comes to managing people's money." Ouch. Talk about kicking them when they're down. Still, never mind. It is bonus time after all.
Better hoodies for the Gates?
We've never quite been able to fathom what the Gates Foundation has been doing investing in JJB Sports. But if the intention was for the troubled retailer to help fund its (laudable) charity work, maybe a takeover (being talked about) by rival JD will be just the ticket. JD has, of course, always positioned itself as slightly more upmarket than its competitor. More a fashion chain than a sports shop. So it should be able to provide Bill and Melinda with a better class of hoodie.
New model of business needed?
Nick Clegg was seeking headlines when he unveiled his "new model of economic growth" yesterday. Unfortunate, really, that he chose the same day that his rather lower-profile brother Paul was also generating column inches. The elder Clegg is the chief executive of Aim-listed technology firm Accys Technologies, which had to go cap in hand to shareholders yesterday for €30m (£25m) to cover ongoing operating expenses. The shares duly fell by more than a third, finishing the day 0.14p lower at 0.23p.
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