Why a Brazilian Super Model Wants Her $30 million in Euros, Not Greenbacks
We interrupt this series on how to survive and thrive in the increasingly predicted period of economic adversity that lies ahead to bring to your attention an article by Dow Jones Marketwatch’s Paul Farrell. About a month ago he penned (well, keystroked) a bitterly insightful piece that everyone in a position of business leadership should read.
Farrell talks about how a “happy conspiracy of greed” has eaten away at the U.S.’s economic health to the point that it is perilously close to the early stages of a terminal state.
Extreme view? Perhaps. But Farrell tells us that to grasp the troubling state of American’s economic health, one might reflect on the Brazilian supermodel Giselle Bundchen’s demand that Pantene pay her the $30 million due her this year in Euros. Observes Farrell: “What irony, a model delivers an economic policy warning with more punch than all the currency threats from Iran, Venezuela and China.”
Farrell sees capitalism today as quite different from Adam
Smith’s view of capitalism. Today’s version is rotten with corruption:
"Over the past century, a gradual move from owners' capitalism – providing
the lion's share of the rewards of investment to those who put up the money and
risk their own capital – has culminated in an extreme version of managers'
capitalism – providing vastly disproportionate rewards to those whom we have
trusted to manage our enterprises in the interest of their owners."
I will continue sharing my thoughts about economical
survival in the dark days that a growing number of economists see in the
offing, but in the meantime, I urge you to read this provocative article by
Farrell – and reflect on the historic volatility of the stock market over the
past several months while reading his words.
_______
As regular readers know, I am co-author of a book released
in February under the Wharton School imprint entitled Firms of Endearment (FoE). For
interested parties, here is a progress report:
- FoE is in its third printing
- It is scheduled for publication (or already out) in six foreign languages
- Was named by Amazon as one of the top 10 business books released in 2007
- A nominee and semi-finalist in the best 2007business book rankings by 800-CEO READ, a major distributor of business books
So, as this year drifts off into history, let me say that with FoE's success and for many other blessings, this has been a great year in these quarters. I pray the same has been true for you.
Best wishes for a joy-full Holiday Season and for a truly great 2008!
I believe that the economic difficulties facing us is a result of several hardly opened between USA and other countries. In my opinion, why not make peace instead of war
Posted by: joel | December 20, 2007 at 01:03 PM
David --
Your insights are on the money. Congratulations on FoE's march to greater publishing success. The best is yet to come for FoE.
-- Atare
Posted by: Atare E. Agbamu | December 26, 2007 at 08:33 PM
Congratulations on the success of F.O.E. David! My best wishes for you in 2008!
Posted by: Tom Asacker | January 01, 2008 at 12:38 PM
Hi
Great site.
Would you be interested in exchanging links?
My site is on account planning, advertising in general, media, and creative thinking.
Eamon
www.spotlightideas.co.uk
[email protected]
Posted by: Eamon | January 02, 2008 at 06:58 PM
Hi
Great site.
Would you be interested in exchanging links?
My site is on account planning, advertising in general, media, and creative thinking.
Eamon
www.spotlightideas.co.uk
[email protected]
Posted by: Eamon | January 02, 2008 at 06:58 PM
Hi
Great site.
Would you be interested in exchanging links?
My site is on account planning, advertising in general, media, and creative thinking.
Eamon
www.spotlightideas.co.uk
[email protected]
Posted by: Eamon | January 02, 2008 at 06:58 PM
Hi
Great site.
Would you be interested in exchanging links?
My site is on account planning, advertising in general, media, and creative thinking.
Eamon
www.spotlightideas.co.uk
[email protected]
Posted by: Eamon | January 02, 2008 at 06:59 PM
The first week of 2008 the stock market has gone down every day. And oil hit 100.00 and gold is climbing at record rate. And the US dollar is falling. Brazilian supermodel Giselle Bundchen’s looks extremely intelligent to me.
Posted by: John Calkins | January 04, 2008 at 10:44 AM
Yes, it's unfortunate that is the case but at this point I'd want Euros too.
Congrats with FoE!
Posted by: Travel Guy | January 06, 2008 at 06:12 PM
you got there a good point!
Nice post
Posted by: Bruno - Inovação & Marketing | January 14, 2008 at 06:19 AM