Posted by Alicia Ciccone on November 28, 2013 08:50 AM
Happy Thanksgiving to our American readers!
American Airlines clears final hurdle in merger with US Airways.
Bitcoin breaks the $1,000 mark.
Gap moves quickly after ad featuring Sikh model is vandalized.
CBC downplays loss of NHL broadcasts.
Facebook testing a 'save for later' feature.
GoldieBlox deletes Beastie Boys commercial as battle with band heats up.
Goldman Sachs bets entrepreneurship project can save Detroit.
HoneyBaked Ham's radio-mobile play aim's to take a bite out of Turkey Day.
HP will replace Verizon in hosting Healthcare.gov website.Continue reading...
see you in court
Posted by Eric Starkman on November 25, 2013 02:57 PM
The following is a guest post from Eric Starkman, the president of STARKMAN, a public relations and brand management firm with offices in New York and San Francisco. He previously was an editor and reporter at major newspapers in the US and Canada.
Effective brand management is no easy feat, and it certainly is not the sole responsibility of those who carry the terms "brand management" somewhere on their company's business card. As we all know, marketers, employees, customers, the media, and the general public all have an impact on how a brand is perceived. Individual experience, coupled with those of trusted influencers, can have far greater impact on brand perception than the most ambitious PR, marketing, and branding campaigns. So why is it that corporations fail again and again to protect what brand "control" they do have when it comes to their attorneys?
As Wells Fargo, Google, and Goldman Sachs have demonstrated, attorneys can often define—and by doing so sully—the brands they are there to protect. In Wells Fargo’s case, Judge William G. Young of Federal District Court was so outraged by the conduct of the bank's attorneys in a predatory lending lawsuit that he demanded a corporate resolution signed by the president—and a majority of its board—affirming they supported the seemingly audacious behavior of the bank’s legal eagles. While Judge Young grudgingly accepted the legal argument of Wells’ attorneys, he was clearly bothered that the bank’s victory was won on a “technicality”:
“The disconnect between Wells Fargo’s publicly advertised face and its actual litigation conduct here could not be more extreme,” Judge Young ruled. “A quick visit to Wells Fargo’s website confirms that it vigorously promotes itself as consumer-friendly… a far cry from the hard-nosed win-at-any-cost stance it has adopted here.”Continue reading...
Posted by Dale Buss on October 21, 2013 09:27 AM
Netflix poised to pass HBO in paid US subscribers.
Chipotle raises menu prices for '14 due to higher costs, GMO shift as it moves East with tofu burrito.
Under Armour opens store in Shanghai and seeks the next big thing with inventor competition.
AT&T receives $4.9 billion in cell-tower deal.
Amazon bets on "betas" to turn web viewers into shoppers.
Apple adjusts tablet strategy to protect lead.
Art Van Furniture extends Michigan based into Chicago market.
Associated Press plans to enable sponsored content.
BlackBerry raises Canadian security concerns with potential deal abroad.
Bon Appetit is magazine of the year for Advertising Age.Continue reading...
Posted by Adeline Chong on July 29, 2013 02:42 PM
In many Asian cities, a wait for a taxi during peak hours can seem interminable. Uber, an app-based private car service, which aims to become "Everyone's Private Driver", has begun its rollout in Asia to hopefully end that.
The luxury car service, which was launched in 2010 and counts Amazon's Jeff Bezos and Goldman Sachs as investors, enters into a market awash with private cab companies and luxury mobile services that cater to Asia's business elite. Uber is no different, as it has entered Singapore, as well as Seoul and Taipei with premium priced services like UberBLACK, which shuttles passengers around in luxury sedans and SUVs.
In Singapore, for example, the S$7 base fare is double the S$3.00 to S$3.50 flag-down rate of taxis, with a minimum fare of S$12. The eventual fare can be three times that of a taxi fare, compared to a premium of 20- to 50 percent for Uber car rides in the US. However, the ride is typically in a Mercedes-Benz S-Class sedan, a far step above the economy vehicles that are available for typical taxi rides. However, Uber is not the only one offering luxury jaunts, as it faces competition from Comfort and Premier cab companies. The competition is only greater in other Asian cities, especially those in China and Japan.Continue reading...
Posted by Abe Sauer on July 19, 2013 12:17 PM
China is the second largest economy in the world and every significant brand's future is impacted by its growth (or collapse)—but who's got the time?! Here's the week's reads that will make you look like a keen China observer in case you find yourself immersed in a cultural conversation.
This week: KFC, KFC and more KFC… Big pharma in big trouble for bribery… Goldman Sachs IPOs China… Lionel Messi for WeChat… Beyond existing auto sales... Beyonce... Luxury franchise buybacks… Union Pay app… Coca-Cola goes green… Kvass!… and more.Continue reading...
Posted by Dale Buss on July 18, 2013 04:22 PM
The stock of his beloved Tesla was battered earlier this week after a leading auto analyst said it already was far overvalued at its current price. But whether he's comparing himself to Henry Ford or promising a way to travel from New York to Los Angeles in 45 minutes, Tesla founder Elon Musk remains focused on visionary new ideas for the future.
At mid-afternoon Thursday, Tesla shares had recovered much of the 14 percent drop they experienced on Tuesday after Goldman Sachs veteran analyst Patrick Archambault, in a broader research note on the automotive sector, set a six-month price target of $84 a share for the only successful EV brand. That was up from the analyst's previous price target of $61—but far below the Nasdaq stock's peak value of $132.41 on Monday. Archambault left unchanged his "neutral" rating on the stock.
Other Tesla watchers were seemingly more bullish, such as Adam Betancourt, who opined on SeekingAlpha.com that when the company reports second-quarter earnings next week, it "will still be a monumental step in the company's rapid growth cycle."Continue reading...
Posted by Sheila Shayon on May 13, 2013 10:55 AM
Reports broke late last week alleging that Bloomberg reporters were using the Bloomberg terminal to track (some might say stalk) employees at its financial services clients such as Goldman Sachs and JPMorgan, all the way up to high-profile individuals such as Ben Bernanke and Tim Geithner — even, apparently, the new company's namesake founder, Michael Bloomberg.
Following a company-wide email on Friday and a Buzzfeed report that this ability was disclosed by a Bloomberg TV reporter two years ago, Bloomberg L.P. CEO Dan Doctoroff acknowledged in a story published by the Wall Street Journal on Sunday that the a firewall should have prevented its journalists from accessing such user data long "earlier":Continue reading...
Posted by Dale Buss on April 29, 2013 01:45 PM
Is JCPenney doing a dead-cat bounce, or is there real life remaining in the venerable retail brand in the post-Ron Johnson era?
George Soros is betting the latter. The famous (or infamous) investor has taken a 7.9 percent stake in JCPenney, a development that immediately sent the stock up by nearly 7 percent late last week. Soros's stake is still less than half that of hedge-fund manager Bill Ackman, who recruited Johnson as JCPenney CEO, and then helped sack him earlier this month. But at least, arguably, Soros is buying low.
Goldman Sachs has placed a bet as well on the possibility that new JCPenney CEO Myron Ullman (who also was CEO before Johnson's tenure of little more than a year) will be able to restore JCPenney if not to greatness, at least to long-term viability. The financier gave the company a five-year, $1.75 billion loan secured by JCPenney's real estate across middle America.Continue reading...