So then, England’s football team are back home following their worst defeat in a World Cup ever. As an Englishman, I care about this very much, but I’m trying to be brave about it.
Germany deserved to win. They played better and importantly played as a team. England were fragmented and dreadful.
But the official score of 4-1 was rubbish. The second goal went over the line by about a whole metre. Unfortunately, FIFA “disallowed” the goal because the linesman didn’t see it and they refuse to install goal line technology. The official reason for this is that many countries can’t afford that technology, which is doubtless a fair argument. But surely countries that can’t afford expensive “Hawkeye” style equipment that the major tennis championships use could still afford to pay a responsible person to stand by each goal line through the match and call when a ball goes over the line? This feels like very poor judgement.
In the UK at the moment, we’re questioning three things in connection with the World Cup.
1. How can England have been so bad? There are no immediate answers to that.
2. How can FIFA possibly believe that their reputation can be held intact when they refuse to listen to the reasonable arguments of so many stakeholders?
3. How is it that the England manager (Fabio Capello) can be entitled to a £12 million severance package if he’s fired next month? His team’s performance was a dismal failure, so surely he should go. £12 million is what’s technically known as “an awful lot of money to pay a loser”.
It feels to me that the Football Association in the UK could benefit from a reading of the ACCA paper P1 notes. Executive remuneration being linked to performance and ease of firing a non-performing executive (Fabio Capello) and how to protect reputation (FIFA).
We’ll give them a course free if they want it. They both need it.
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-06-30 07:36:232010-06-30 07:36:23Fabio Capello's comedy version of Sydney Pollack's classic film "Out of Africa" was complete and utter...
It’s one year since Michael Jackson died. In the year since his death, his estate has made earnings of £670 million.
Given that he was allegedly in serious financial trouble at the time of his death, this must be the source of a certain amount of posthumous frustration to Mr Jackson. His ability to spend the money has been significantly impaired in the period since the money started to roll in, on the grounds of his no longer being alive.
This is a quandary well known to many pop stars. The murder of John Lennon in 1980 sparked a sudden and deep revival of his career.
I can’t help but wonder why none of Michael Jackson’s advisors pointed him in the direction of the Bowie Bond.
David Bowie issued bonds in 1990 that were secured on the future income to be earned from songs that he had written up until that date. This is a simplification of course, but that’s the big picture. By doing this, David Bowie was able to get the benefit of some of his post death earnings while he was still alive. He is a smart business operator as well as enormously popular song writer, it seems.
The Bowie bond has been influential in business since it was issued. In practice, I personally used it as the backbone of market data to help in the divorce settlement of another well known musician.
Its influence amongst accountants is significant, though less so with the pubic at large. Rock stars probably don’t shout about it because valuation and securitisation of intellectual property isn’t really very rock and roll.
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-06-28 08:30:222010-06-28 08:30:22Should Michael Jackson have had more of a bond with David Bowie?
Ten years ago former accountant Mr. Christopher Timbrell became former accountant Mrs. Christine Timbrell.
Christopher had surgery to alter his gender and became Christine but still remained married to his wife, Joy.
Yesterday, three Appeal Court judges in the UK gave a ruling which links to a number of discrimination issues.
Under 2004 legislation, as a transsexual Christine is entitled to enjoy the full status of her gender. However, married transsexuals are only allowed to have their gender recognized if they dissolved their marriage. This is where the problem for Christine occurred as although she had the sex change operation she still remained happily married to her wife Joy and they didn’t get divorced.
This meant that Christine was still treated as a man for pension purposes and therefore became entitled to a pension at 65 rather than at 60 which is when a woman becomes entitled to a pension.
Christine argued that she was a woman and it was a violation of her human rights to be forced to get divorced to become entitled to a pension at 60. The three Appeal Court judges found in Christine’s favour and also added that she was a victim of discrimination.
Christine, aged 69 who has two children with Joy from before the sex change operation, will now receive backdated pension payments going back to when she was 60.
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-06-25 11:39:402010-06-25 11:39:40An accountant can make 65 become 60 but it takes rather extreme measures.
So the World Cup is in full swing but what got all the publicity yesterday involved a team of attractive female Dutch fans rather than a team of footballers.
36 young blond Dutch fans wearing bright orange mini-dresses were removed from the stadium at half time and two of them were arrested and then released on bail.
But what exactly was their crime and why all the media attention?
Their crime was that they were alleged to be part of an ambush marketing campaign by Bavaria, the Dutch brewer.
Ambush marketing is where companies which are not official sponsors of tournaments aim to get their marketing message across without making any payment to the tournament organisers.
The mini-dresses the ladies wore were promotional dresses provided by Bavaria in the run up to the tournament and when they all started clapping and swaying in unison in these dresses they understandably attracted a lot of attention. Unfortunately for them this attention was not only from the world’s press but also FIFA representatives that were on the lookout for ambush marketing.
Anheuser Busch’s Budweiser is the official beer of the tournament and no other beer company is allowed to promote itself within World Cup stadiums. FIFA receive significant amounts of money from official sponsors and therefore are keen to protect their sponsors.
Another example of ambush marketing involving a major sports tournament was at the 2009 British Golf Open. Hugo Boss sailed its corporate sponsored yacht just off the coast of Turnberry, Scotland where the golf course was located.
As a result of this the BBC who were filming the golf had little choice but to show the Hugo Boss yacht in the background of a lot of shots. Great advertising for Hugo Boss!
Back to the Dutch girls and the 2010 World Cup though and it’s safe to say that whatever the outcome of this situation it’s no doubt been a success for Bavaria. More people have now probably heard of Bavaria beer as a result of the arrests than if the girls had just been left in the stadium to sway and clap in unison and enjoy the rest of the game!
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-06-16 11:43:142010-06-16 11:43:1436 attractive Dutch ladies, Hugo Boss and an ambush. It's all happening at the World Cup.
I had dinner with a group of friends earlier in the week and there was a nice mix around the table between finance people and marketeers.
When the dessert menu was brought out and one of the group decided to go for the “banana split” dessert an interesting discussion started.
According to the marketeers around the table, bananas are considered to be “known value items” by the large supermarkets. These items are considered by the supermarkets to be products where the average customer has a reasonable knowledge of how much they should cost. These include items such as bread and milk (and bananas!).
They are therefore always priced competitively by the supermarkets as it is the price of these products that customers most commonly compare between the supermarkets. If the supermarkets can attract customers to their shops with attractive pricing of these “known goods” then they can maybe be more relaxed with the pricing of other goods!
According to a recent report in the trade magazine, the Grocer, banana prices are heading towards the critical point of £1 per kilo. This is approximately 35% higher than the price one year ago. This is a huge increase in percentage terms and customers are noticing.
And the reason for the increase in prices?
Well, this was where the finance people around the table suddenly came into their own. Apparently, there are two main reasons for the increase in prices.
Firstly, the increase in oil prices. Shipping companies that transport the fruit over to Europe have been hit by the increase in their shipping fuel costs as a result of the increase in oil prices.
Secondly, banana importers have been hit by the weakness of sterling. As a dinner companion put it succinctly, “the bananas are more expensive as it’s simply costing the importers more pounds to buy the same amount of bananas they were buying for less pounds last year”.
Luckily for my dinner companions though, just as I was about to start talking about exchange rate risk and hedging facilities the desserts arrived and we suddenly forgot all about the price of bananas!
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-04-09 18:14:172010-04-09 18:14:17Despite the recession, one food product is now 35% more expensive than last year. You'd be bananas not to know the reason.
Earlier this week Bloomsbury released their latest set of financial results. Bloomsbury are a publisher and their list of titles includes the ubiquitous Harry Potter books.
Their 2009 results showed a fall in pre-tax profits of 35% with earnings falling from £11.6 million to £7.7 million.
As keen muggles know (if you don’t know what a muggle is then ask somebody that has read a Harry Potter book!), there hasn’t been a new Harry Potter book for a while now and such was the success of them that without new ones coming into the pipeline there was bound to be an impact on the results.
Students will be aware of the product life cycle where products go through different stages ranging from introduction, growth, maturity and ultimately to decline. The decline stage of the product life cycle is often referred to as the “tail”.
Efforts are often made to extend the tail by use of the marketing mix (product, price, place and promotion).
Bloomsbury have announced that in November of this year they are planning on re-releasing all seven Harry Potter books.
Will the stories be different?
No they won’t but what will be different are the covers. Each book cover will be illustrated by artist Clare Melinsky. In other words, the product will remain largely the same (in terms of the story) but there will be small changes (the “collectors” covers).
This is a good example of amending the Product within the marketing mix to extend the tail.
Of course, the launch date of November 2010 is no accident as I’m sure there will be some happy people on Christmas day opening some new gift sets of Harry Potter books.
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-04-02 07:35:442010-04-02 07:35:44The latest adventure of "Harry Potter and the case of the extending tail".
In one of our previous blogs concerning the strategy papers and the importance of being aware of current issues we highlighted the impact of the recession on the number of people that went to cinemas (the number increased as it was seen as a relatively cheaper form of entertainment compared to eating out at restaurants or attending theater).
I was recently buying some cosmetics and got talking to the department manager. She told me about another somewhat unexpected sales success in the current recession.
Namely, that sales of cosmetics have increased. Whilst many women are reducing expenditure on most fashion products the sales of cosmetics has increased significantly. Cosmetics have shown the highest growth in the British beauty market with reports of a 7% rise to £1.2 billion.
Apparently, this scenario is called the “lipstick factor” and originated in the Great Depression of the 1930s when women were eager to look their best to land a scarce job. Reports say that the average woman in the UK in 2010 now has over £70 of cosmetics in her handbag.
So, despite there being a recession on, should the advice be “keep smiling”?
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-03-15 15:01:542010-03-15 15:01:54Lipstick and the recession. What's the link?
The science fiction film Avatar which was written and directed by James Cameron has been in the press a lot recently and has had some good write ups by some of the critics. It is an incredibly successful film and today it was announced that it has overtaken Titanic to become the highest grossing movie of all time with worldwide takings of nearly USD2 billion since its premier in London in mid December last year.
Last night I decided to go and see it to see what all the fuss was about. I must admit that I was impressed. The special effects were excellent and with the film being shown in 3D it certainly did create an impact.
3D films have been around for a number of years now and started back in the 1950s with early prototypes of 3D movies including such classics as the 1950s monster movie the “Creature from the Black Lagoon”! Technology has progressed a lot since then though and at last month’s Consumer Electronics Show in Las Vegas there were a number of firms presenting their latest 3D televisions.
This is a useful example of what we would find in the product lifecycle. If you go back over the history of televisions you will find a series of lifecycles. The timeline of televisions has gone from Black & White, through “traditional” colour, to plasma and LCD.
Although the product lifecycle will vary on a geographic region by region basis, in a lot of countries the lifecycle of the “traditional style colour TV” is in decline whilst the lifecycle of the LCD TV is in the growth or maturity stages. What about the new 3D TVs that are being launched this year? It’s safe to say that these are in the introduction stage. As a result the marketing mix of these TVs will be different from the other stages. “Place” for example will be at a limited number of locations and as for “Price” then it’s not rocket science to guess that they will be priced at a premium above the other types of TV that are at different stages of their lifecycles!
https://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.png00Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2010-01-27 03:19:182010-01-27 03:19:18Avatar, 3D TV and the product lifecycle...
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.