In The Robin Report, Robin Lewis wonders about the lack of experience in the apparel industry at the top of Gap's organizational chart. He writes: I was reluctant to write this article, only because I was getting kind of bored being TRR’s Chief Critic Officer railing against Gap Inc’s serial selection of five CEOs over roughly the past two decades. None of those executives had experience in apparel retailing, despite the fact that such experience was a key qualifier for the top job. Gap Gone So, while Gap Inc.’s overall business (across its four major brands) following the exit of Mickey … [Read more...]
Archives for October 2023
“Wow, That Was an Obvious Buying Opportunity”
Bond investors pay attention. The loud sucking noise you hear is impatient investors selling for pennies on the dollar. We may look back on today in a few years and say, “Wow, that was an obvious buying opportunity.” It’s funny (not that funny) that when investors see lower prices in their portfolio, their instinct is to sell. When they see lower prices at Cosco, they buy more. Why not bring that consumer eye to your money? I do. Because I see unique opportunities for your lazy cash. Get it into the office. No more working from home. It’s time to increase its production. Look, I … [Read more...]
Americans Watch as Household Incomes Drop
In recent weeks, higher numbers of Americans have been watching their incomes decline. Alexandre Tanzi reports in Bloomberg: The share of US adults with decreasing incomes has ticked higher in recent weeks, another sign that the labor market is slowly cooling. The increase — to 11.8% last month from 10.7% in August — was driven primarily by high- and middle-income households and the West region, according to a survey of the US labor market from data intelligence company Morning Consult. Among adults with an annual income of $100,000 or more, close to 20% say they expect their incomes to … [Read more...]
“Doctor, What Are You Doing?” “Nothing,” He Said
“The weather’s been crazy up here,” he said. “The crosswinds on the landing strip are the worst I’ve ever seen.” This was part of a conversation I had with a client yesterday. He spends weeks at a time fishing the big country of Alaska. He said the winds were so bad, guys he knows crashed their bush plane and, luckily, thanks to pilot awareness, walked away from it. He said that on the last trip, the fishing was excellent. It was the first time he could recall where they were the only ones on the river. They caught enough silvers (salmon) to feed them for the rest of the trip. “But,” he … [Read more...]
Has Tupperware Survived Its Brush with Death?
Tupperware was nearly out of business, but, reports The Robin Report, it may have been saved, for now. Arick Wierson writes: Way back in May of this year – I know that’s only a few months ago but with the entirety of summer sandwiched in between now and then it now seems like an eternity has passed – business scribes were getting ready to write their eulogies for the iconic American household brand Tupperware (TUP). Why? It had just announced that there was “substantial doubt about the company’s ability to continue as a going concern.” (In case you’re wondering, that’s business-speak for … [Read more...]
Biden’s “War” On Fossil Fuels Keeps Shale Drillers Idle as Oil Prices Rise
Despite high oil prices, America's shale drillers are holding back on new drilling in the face of what they fear will be a war on their businesses from the Biden White House. Jamie Smyth and Amanda Chu report for the Financial Times: America’s shale pioneers have vowed to keep a lid on drilling even if oil hits $100 a barrel, citing a need to maintain capital discipline and what they claim is a “war” on fossil fuels waged by the Joe Biden administration. The price of Brent crude has surged more than 25 per cent to $95 a barrel since June following co-ordinated cuts in production by Saudi … [Read more...]
“Oh, This Is Prime Real Estate,” They Say
Are you hearing about the real estate debt you can buy and get ten percent on your money? I am. No, thank you. I hear it all. I’m Your Survival Guy. I get the offers, too. I don’t like risk. I’m fine collecting the interest on the full faith credits in treasuries. It’s funny (not that funny) how, not too long ago, in a zero percent world, two percent was a decent deal. Now, everyone wants more. Not me. I want my money-back guarantee. I don’t want “great deals” in my portfolio. I remember the brutal markets where it all fell down. “Oh, this is prime real estate,” they say. “It’s … [Read more...]
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