From tonight’s CBS Evening News:
Small businesses have created nearly two thirds of all the new jobs over the past decade and a half. In other words, we can’t have a recovery without them.
This means you, local, independent brick and mortars. Whether a design firm in a converted warehouse or an upscale boutique downtown, you’re the ones who employee the masses, funneling payroll tax money back into the system. You contribute to the local economy by way of commercial property tax-—something home based businesses don’t do. Every dime spent on utilities at work is in addition to what you also pay for the house. You’re the little engine that could…and does.
I’m thrilled to hear someone in the national media take note of the fact. Finally.
From an interview with AmEx CEO, Kenneth Chenault, in the current issue of Fortune Magazine:
We’re doing a “back to the future” on the charge card. That’s our pay-in-full product at the end of 30 days. Consumers want discipline, and if we can bring that discipline of paying in full at the end of the month along with the service levels that we provide, plus the rewards and other programs we have, we think that’s a tremendous opportunity for us to grow.
Yes, it would be a tremendous opportunity for AmEx to grow, but what about small business? What about all those “Shine a Light” brick and mortars that have been so highly touted in the recent AmEx/Universal advertising campaign? What about you and your business? [click here to continue…]
To everyone’s relief, the venerable Mrs. John L. Strong has been purchased out of bankruptcy. Long seen as the creme de la creme of social stationers, the Manhattan institution has provided bespoke papers to everyone from royals to rascals over the decades. When filing chapter 11 in August, a collective gasp could be heard from coast to coast in the paper industry; after all, if Mrs. Strong could stumble, well…no one was safe. [click here to continue…]
Admittedly, this one breaks my heart.
Tavern on the Green isn’t just a beloved gem in New York; to me, it’s the home of many happy memories: attending the National Stationery Show party with Mom the first time we went to market…dinner with dear, wonderful Vicki Hoffstetter who helped me begin my path into industry leadership…co-presenting the inaugural Rep of the Year Award at the REA dinner with Carol Schroeder…flirting with a certain tall, dark, and handsome gentleman in the gift industry who, to this day, has no clue what a crush I had on him…and the night a handful of us danced beneath thousands of twinkling lights on the back terrace, music wafting over from a wedding reception on the neighboring patio. To some, Tavern may be a cliché, but to me, it’s a treasure box. [click here to continue…]
The trend continues as we watch behemoth vendors file bankruptcy in the gift industry. While in Chicago, I heard about Lang filing; I see now the press has the story, which you can read here.
Like others, I feel we’re at the start of the curve here-—not the end-—but my take is that most of the filings yet to come will be from vendors who also operate corporate stores (think: Department 56, Smith and Hawken, Crabtree & Evelyn). In most cases, bankruptcy is the only “out” on their often bloated leases, which allows then to step away from their mall commitments to reorganize internally. The company survives, but the landlords lose out. Big. [click here to continue…]
Well, here we go…off to the Big Show, the summer gift show at AmericasMart in Atlanta. Admittedly, I’m a bit curious about the next few days and how they’ll play out. In January, we were all looking each other in the eye for the first time since the market nose dived into oblivion. It only took 24 hours for the collective :::sigh::: to be heard across the three block campus as everyone recognized they were in this thing together.
Now, six months later-—to the day-—everyone’s had time to adjust to doing business differently. [click here to continue…]
The venerable Smith and Hawken garden retailer has decided to stick a spade in the soil and call it “done.” Translated, they’ve already ceased online operations and plan to close all retail storefronts by year’s end.
The reason? Three guesses. The economy.
Read up on the details here.
Yet another one that stunned me. Read about it here.
