Bag Borrow or Steal

So there’s a little summer flick, maybe you’ve heard of it? While cocktailing women flock to theaters to see Sex and the City: The Movie, there’s no denying this franchise isn’t only successful in its storytelling but its branding as well. Take, for instance Bag Borrow or Steal. This fascinating business concept was dubbed a Netflix for purses and it’s no wonder why: started by two men in America this biz gives users the opportunity to borrow items and you guessed it — return ‘em. And if you try the hangbags, sunglasses or jewels on for size and realize you can’t live without, then it’s time to “steal” — or purchase them. I think this concept is genius: in a time where the economy is down and out, it still gives women the opportunity to feel and look fabulous while having a dash of green initiatives in there as well.

Let the games begin

While we’re only two months away from center stage in Beijing for the Olympics, on this shore there’s a bigger more pressing story. As the summer heats up, so do the politics. Barack Obama will be the Democratic candidate for presidency so one can only wonder how the upcoming election and new president will impact our economy.

As he clinched the nomination the NY Times reported the following:

A last-minute rush of Democratic superdelegates, as well as the results from the final primaries, in Montana and South Dakota, pushed Mr. Obama over the threshold of winning the 2,118 delegates needed to be nominated at the party’s convention in August. The victory for Mr. Obama, the son of a black Kenyan father and a white Kansan mother, broke racial barriers and represented a remarkable rise for a man who just four years ago served in the Illinois Senate.

Bear markets, bad timing

When the news broke several weeks ago that Bear Stearns was a sinking ship, well, there were some capitalists who wanted to create new opportunities for themselves.  For instance, one or two tacky New York real estate brokers decided to hang outside the building to network with people to sell their apartments and move out of Gotham.  For a company that held itself high in employee morale and loyalty, as it turns out some people who suffered from their misfortunes hadn’t even joined yet.

As for the backstory? Jobseekers at the college level. As companies go under, what happens to the college students who accepted job offers only to find themselves downsized before their actual job began? Such is a story in yesterday’s NY Times. Apparently the company, a robus employer on the undergraduate level, hired about 300 students for full-time jobs along with 300 summer interns.  When the 85 year-old company agreed to be acquired by JP Morgan, well, their fate was sealed in terms of which  side of the house they were going to join.  As for the equity division as in banking and fixed-income? Buh-bye.  Regarding energy, prime brokerage and merchant banking, well they’ll work for JP Morgan, the article says. 

Will impacted students become jobseekers once again and land on their feet? At some point soon for these bright college grads, the answer is yes. It is an unfortunate state of circumstances, not to mention the economy, that they’re experiencing being downsized and the turmoil prior to even stepping foot into the working world.

 

 

 

You Gotta Have Wa

I’m going to switch things up a bit, start a new blogger dance if you will. We know there’s a recession right now in America. Check that, a huge recession. We’ve read the headlines about Bear Stearns, we know the real estate market is in the tank. So we do what smart citizens would do: we divert the attention to lighter fare.

Welcome back, baseball! Known as America’s pastime, not quite sure why soccer (a.k.a. “football”) never really took off here, our vice is just this: baseball. American pie. Hot dogs. As I entered the colossal Yankee Stadium tonight I couldn’t help but reflect on a book I previously read, You Gotta Have Wa. 

Sports are like an anthropological study, a business analogy if you will.  For instance, in Japan the game of baseball is played somewhat differently than on this side of the globe. In Japan it’s fine to end a game in a tie; after all, you don’t want to disgrace the other team. If you hit a home run and scurry around the bases, well you don’t exactly want to look too happy. That would - you guessed it - disgrace the opposing pitcher. Yet here in America we have no problem taking the credit, taking that curtain call out of the dugout when fans beckon the player to take a bow.

We play on a team just like in business but the message is this: it’s okay to shine.  We also incorporate baseball terms in business; it’s not uncommon to “touch base” in order to communicate or “hit the ball out of a park” with a stellar proposal. It’s ingrained in our culture, it’s a part of our lives, it intertwines with our business, our culture, our being. So on the evening of a monumental Opening Day in the Bronx: play ball!

The high price of bling

As stocks tumbled yet again and the price of oil per barrel continues to rise, the bad batch of news continues: gold hurled at $1,000 per Troy ounce. The. highest. ever.

Sure, we could blog on and on about the recession, declining market, and the rising value of gold juxtaposed with the weakening U.S. dollar, but there’s no denying it. Recession-proofing your life is the way to go.

According to the NY Times the dollar tumbled to an almighty low against the euro (as for this morning? It traded at $1.5605. As for the yen? The dollar dropped below 100 yen for the first time since 1995!). The facts persist, there’s no denying it. When it comes to gold, looks like we won’t need to buy this luxury for quite a while but with the raising price so ensues a declining economy.

Chipping away the glass ceiling

 I noticed a recent issue of CNBC’s European Business Magazine featured top women who are shattering the glass ceiling. Making strides and taking names….excellent!  But what gets me is this:  if it’s still a front page story, if there are still a handful of CEO’s who are women at the top (not to diminish their accomplishments but still…) if it’s still buzzworthy then are we truly shattering the glass ceiling or are we making strides in diligently chipping away at it since it’s omnipresent?

As my generation’s mothers had the opportunity to basically become a nurse, teacher or flight attendant and my generation grew up believing we could be corporate consultants, neurosurgeons, and exuberant thought-provoking writers, thanks to Hillary Clinton tomorrow’s generation here in America can at least realize being a president is a possibility. Today’s a big primary day as several states such as Texas, Pennsylvania and Ohio need to vote for Obama or Clinton for the Democratic Party’s bid to the White House. Some are going so far to say if Hillary fails to win this ends her journey to the Oval Office.As she has faced extreme scrutiny such as her cackling laugh or her pantsuits (no other candidates have faced in the major media outlets, by the way), some Americans could take her, others could leave her but there’s no denying the strong impact she’s making to crack the door open for future presidential fearless females.

Footnote: While U.S.-based campaigns typically equate to dollars, major fundraising efforts, media portrayals and appearances on pop culture shows and even YouTube (political issues? What issues, they’re getting ready for their close-ups!) I always found the last line stated by candidates during campaign commercials intriguing and wonder if other cultures do the same.

Essentially, “I’m Vicki Salemi and I approve this message!”

Business ethics of journalism

I’m sure by now you’ve heard that Prince Harry served his country in Aghanistan for ten weeks but what’s surprising is that journalists had a “media blackout” and they all agreed to not run the story.  While journalists may be viewed in some markets (ahem, London) as tough, unscrupulous, and sometimes salacious (depending on the publication, of course) but, still…it’s commendable they put ethics first.  Essentially, they adhered to the blackout and instead of scooping the story they remained silent.

While it was disappointing to hear the Druge Report broke the story which immediately sent Prince Harry home due to security reasons, kudos to the journalists in the U.K. for realizing the significance of his presence in Afghanistan and putting him and the country before their own individual agendas.

Starbucks takes a coffee break

See Starbucks. See Starbucks sell coffee.  See Starbucks sell coffee, sandwiches, muffins, newspapers, mugs, CD’s, and games. See Starbucks sales dip, see Starbucks regroup! Yesterday for the first time ever there was a nationwide coffee break. Check that: baristas nationwide closed shop at Starbucks on Tuesday for three and a half hours to relearn the basics of their business.

You can guess what happened next: competitors like Dunkin’ Donuts took advantage of their competitor’s employee training. They did the inevitable and offered specials of 99 cent lattes during that time frame so coffee drinkers could get their jolt of java. 

While Starbucks says they’ll close 1% of their current coffee shops in the US by the end of September and they’ll no longer sell their ham, eggs, cheese, and bacon sandwiches, it’ll be interesting to see if the powerhouse continues to flourish, if this is merely a blip in their business model to get back on track, or if Dunkin’ Donuts will take a hold on the market. Personally I prefer Dunkin’ Donuts but quite honestly, there is nothing quite like discovering a little mom and pop coffee shop with charm, character, and yes — coffee.

Blog is the new black!

Welcome back to my blog! Ok, maybe this is a note more for myself but I’ll be dishing on a daily basis as it relates to the latest business buzz. Whether it’s about the economy, jobs, new businesses that soared, start-ups that failed and lessons learned or an overall trend, this blog will cover a variety of angles.  Game on!

Super Fat Tuesday

The Superbowl.  The Primary Elections.  Fat Tuesday a la Mardi Gras in New Orleans. Here in Gotham there’s quite a buzz in the air. As the nation’s future lies in the hands of voters today for primaries across several states, there’s a certain excitement.

A sense of change. A rebirth, if you will.  As the underdog, the NY Giants proved to be victorious over an undefeated Boston team, one thing’s for certain: never rule out the little guy.  So as it comes to the economy and business how can we still have faith in a lagging recession?  Belief, conviction, and above all hard wor. That’s all I have to say. Good day!