Credit Crisis Diary: 13/06/2009
Saturday 13 June 2009
An economic indicator that is truly pants
Looking for a new economic indicator to track? Former Federal Reserve Governor Alan Greenspan has a suggestion.
According to MSN Money, one of Greenspan's favourite yardsticks is sales of men's underwear. Research apparently shows that blokes, slovenly coves that they are, stop buying new pants at the first sign of economic stress. Pant sales are, if you like, an early warning signal for the economy. Equally, when confidence improves, the underwear market is one of the first to benefit.
How Elle sent broker into a rage
Jeremy Batstone-Carr, the head of research at stockbroker Charles Stanley is an angry man – or at least he was until he got the fury out of his system yesterday, publishing a four-page rant on political uncertainty and what it does to financial markets. You get the picture from the title, "Out of sheer rage". Batstone-Carr obviously needs to go back to the yoga classes he admits to having recently given up on – apparently after being repeatedly laughed at by classmate Elle Macpherson.
The kind of advice you do without
Peta, the animal welfare charity, has some helpful advice for the Dairy Farmers of Britain, the struggling dairy products group currently laying off staff. It suggests the business drops cow's milk altogether and moves to soya milk production. You can see where Peta is coming from, but it's difficult to imagine dairy farmers giving up on cows.
Hornby's rebranding starts now
Mark Arthus, a self-styled branding expert is in touch to offer an opinion on Andy Hornby's appointment at Alliance Boots. Apparently, restoring Boots's brand value so that the high street chemist is once again a "staple diet in mum's shopping experience" – whatever that means – will be one of his biggest challenges. Arthus neglects to mention the challenge the former HBOS boss faces in restoring some faith in his own brand.
Striking at the heart of the free market
You've got to hand it to Hugo Chavez, the Venezuelan President. The left-wing firebrand is not afraid to take on the giants of global capitalism – he's just ordered Coca Cola to stop selling Coke Zero – nicknamed "bloke's coke" in Venezuela, for unspecified health reasons. Strangely, no such edict bans Diet Coke, an identical product that is branded differently. Still, no doubt that's next.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 MH370: 'Putin ordered plane to be flown to Kazakhstan space port,' conspiracy theory claims
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
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