BOSTON, Oct 20- The $108 billion Fidelity Contrafund continues to have a big appetite for Facebook Inc's stock, adding to its position in the social media company during the third quarter and praising its mobile ad revenue growth and "visionary management." The fund, which is the largest mutual fund owner of Facebook, disclosed adding to its position in its...» Read More
When Kobe Bryant was charged with sexual assault, we saw a few nifty entrepreneurs come up with T-shirts to try to cash in on the news. There were the Kobe Bryant T-shirts were made to look like a jersey, with Kobe's number on it and "Colorado Prison League" on the front. One supporter made a "Free Kobe" shirt. But never in the history of sports have we seen the cottage industry that has become Michael Vick dogfighting T-shirts.
With the market as up and down as it is these days, my schedule has been just as much of a rollercoaster ride! I'm behind on responding to some of the interesting notes that have made their way into my retail detail inbox. So this Friday I decided to catch up! Retail detail reader Mark Coleman raised a good question about cause-related marketing and the type of Super Saturday fundraiser events that I wrote about a few days ago.
I can't help but comment on Viacom's earnings. On Thursday, the media giant beat Wall Street estimates, thanks largely to the filmed entertainment division's profit quadrupling. But the studio (Paramount and DreamWorks) is a much smaller part of the company than the 'Media Networks' division, which includes MTV, VH1, Nickelodeon, Spike TV, etc. I'd say Viacom's largest challenge moving forward is growing its ad revenue on these cable networks...
I think that things are going to get worse before they get better in the retail. I took a look at short interest in a few big retail names today and was surprised to see just how many investors were betting AGAINST the stores that cater to the mass market consumer right now.
One of the most surprising things about being here in Beijing is the absence of Yao Ming. I thought he'd be everywhere. Sure, he made his name in Shanghai, but I thought he was the pride of China. Well, apparently not. Aside from a Coca Cola ad on an occasional billboard and a wildlife poster, Yao isn't a force here.
So Star Jones finally admits she had gastric bypass surgery. Really? People, it's like denying you had a facelift, collagen, or breast augmentation. WE KNOW. 177,000 people had gastric bypass last year, nearly double from 2003, making it one of the fastest growing plastic surgery procedures. So is PhotoShop. Check out Kelly Osbourne--I'll have what she's having.
This past weekend, I attended the annual SuperSaturday event in Water Mill, New York. Well-known in the fashion world and to vacationers in the Hamptons, this is essentially a high-end tag sale/sample sale of designer goods to raise money for the Ovarian Cancer Research Fund.
This job really does beat working for a living. I've just had the opportunity to drive a car worth, gulp, $435,000. That's about twice the price of your average home in the U.S. these days. The car is a new Rolls Royce Phantom Drophead Coupe (pronounced coup-AY). Drophead is a fancy name for convertible. The car will start selling in September, and the first year is pretty much sold out. Yeah. Sold out.
I'm here thanks to a long plane ride, during which I watched "Blades of Glory" twice and read two books on the history of China. You thought the Boston Celtics were a dynasty? Imagine being dominant for 300 years! Anyway, I've come all this way so that I can bring you all the important business stories of the '08 games on the year-out anniversary on Wednesday, August 8 and actually throughout next week on CNBC.
As many of you know, yesterday I called for Nike to dump Michael Vick. They sort of did that minutes ago, when they suspended his contract. My prediction? They'll never reactivate it. It's a really good move. They were never going to use Vick again, so there was no reason to stand by him. I'm not ignorant enough to think that they my writing did anything.
I wandered on to NFLShop.com to do my daily check on everything Michael Vick and I noticed something strange. I couldn't find Michael Vick No. 7 jerseys anywhere. So I called the NFL and asked them why they had made this decision. "We have suspended sales of Vick-related merchandise on our official league e-commerce site, NFLShop.com," said NFL spokesman Brian McCarthy. "This includes Vick jerseys and collectible items such as autographed balls and other memorabilia."
At the end of June, I announced my worst athlete ad contest. I received many entries of athletes in all sorts of ads from my readers, but I really didn't have any trouble picking a winner. Congratulations to reader Joe Gudema who sent me Red Sox closer Jonathan Papelbon doing ads for 125 Auto. Thankfully, it's on YouTube for your viewing pleasure.
Microsoft's top brass are hosting the company's Financial Analysts Meeting at company headquarters in Redmond, Washington today. I was going to be there as well, but at the last minute, changed plans for several reasons. And it was probably a good idea, at least for Microsoft.
Most mind-numbing PR stunt of the summer (so far): Here's the headline: "100 cows face-off against world-class surfers during Honda U.S. Open of Surfing at the Huntington Beach Pier." Where's the beef? Against the backdrop of the world's largest professional surfing competition, 100 cows will be herded into the Honda U.S. Open of Surfing by 40 cowboys on Thursday, July 26. The first-ever beach cattle drive at the Huntington Beach Pier takes place at 7:00 a.m., even as professional surfing's "elite athletes take to the waves."
When activist organizations ask for a shoe and apparel company to drop athletes before the legal process has seen them through, I usually don't agree. The main reason I stand up for these companies is that it's good for business to ride it out. People forget and if you have an athlete who is acquitted of charges who is a big star, they will prove they can sell again.
Note to PR people: please actually WATCH our network and understand what CNBC does before sending pitches. Here's a shortened list of press releases sent my way in the last 24 hours: "Draumr Publishing, an independent U.S. press, has finally released 'Moon Child,' the tantalizing new novel by first time Canadian author Simone Maroney, to the North American public. The book is a rollicking good ride, complete with adventure, betrayal and harrowing escapes from dire circumstances." And then there's Lindsay Lohan.
As many of you know, I started boycotting my watching of the Tour de France this year because of all the drug scandals. Of course, the scandals have continued. German cyclist Patrik Sinkewitz tested positive for testosterone and was suspended, Alexandre Vinokourov and his team withdrew after he tested positive for blood doping and we're waiting for the suspension one more rider that tested positive.
With little or no fanfare Pfizer launched a new ad campaign for its erectile dysfunction drug Viagra on NBC Nightly News last night. Pfizer has gotten into a bit of trouble before for its relatively racy Viagra spots like the "Horny Devil" campaign featuring the guy with two horns growing out of his head. This time it's got a bunch of 40-something guys sitting around a dusty barn singing "Viva Viagra" to the tune of Elvis' "Viva Las Vegas".
Avid Retail Detail reader Davis Skinner weighed in on the viability of polo as a mass market sport and the appeal of Nacho Figueras as a model (a title that the athletically accomplished Figueras doesn't like.)
After years of using the polo player as its signature branding logo, Ralph Lauren (RL) is taking on a sponsorship role of an actual polo team. Ralph Lauren is now the official sponsor of the Black Watch polo team and its star player (and longtime Ralph Lauren model) Nacho Figueras. Taking the sponsorship a step further, the company is now selling match shirts for Black Watch fans that are embroidered with Nacho Figueras' number 2 on the shoulder.