Tag Archive | "financial crisis"

Credit Card Executives Have High Hopes for the Future

For the first time in a very long time- or at least since the recession started- credit card executives are seeing bright sunny days and are looking far beyond the losses brought by the financial crisis. This is a really good thing considering the fact that the government is planning to tighten their grip on credit card companies.

Over the past few months, credit card company losses are falling. The overwhelming consumer acceptance of the smartphone payment systems and all other technologies has given credit card companies the opportunity to garner long-term revenue growth.

Now, executives strongly believe that they can easily do something to work around the effects of the recent regulatory changes of the card industry.

Credit card executive Stephen Eulie said that he is still very optimistic. There are no negative effects of our current economy that they cannot do something about, he said. Eulie spoke to Reuters in the credit card industry conference conducted every year.

In the recent years, most of the topics discussed in the conference are about the new regulations in place. Talks about the credit card law passed in 2009 and its lingering effects dominated the previous conferences. The Dodd-Frank financial reform law was also constantly a hot topic in the previous years.

However, banks are more positive and credit card companies are tapping new technologies this year to invest in developing countries wherein people use credit card as a luxury and not a necessity.

One of the conference attendee said that that the credit card industry has stopped finding ways to cease the regulations, and started looking for ways on how to get around it.

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Vogue’s Editor-in-Chief Anna Wintour and Her Rare Interview

Vouge Anna WintourIn case you don’t know Anna Wintour—chief editor of Vogue magazine since 1988, she is the most influential person in the fashion world. Her world exceeds beyond fashion and also to business, entertainment and politics —she’s actually a peer among the likes of Oprah and Martha.

Her name may not be as widely known as Oprah Winfrey and Martha Stewart but as editor-in-chief of vogue magazine, she might still be influencing unsuspected costumers, designers, shops, celebrities and people. Her words, thoughts and ideals as presented in Vogue are read and acquired by consumers and trendsetters alike.

Hence WSJ magazine, a glossy lifestyle magazine, features Wintour in its cover article for April talking about her prestige and powerful influence in the fashion industry. It’s a very rare interview since only few know her behind the pages of her fashion magazine.

She’s really a powerful person in America. This statement is also said by the editor of WSJ Deborah Needleman. As quoted by Jacobs in the article, “If I get a request for something, there aren’t two possible answers. First I get an email, then a phone call from someone at Vogue, and now I don’t even bother to say no—I know the next call is from her.”

Jacob is one of the people who benefited from Wintour’s influence. When Louis Vuiton was looking for a designer in 1997, she suggested Jacob’s name to the brand’s CEO.

But aside from that, there have been many fashion events launched by Wintour including the big event Fashion Night Out in 2009 and 2010 in New York. Despite the financial crisis, she persuaded stores to spend for parties. She managed to mix stores, celebrities and shoppers in an ultimate shopping night out and dig into their wallet despite the recession. With that, she basically created a holiday. According to Needleman “Who else has the power to take New York and create a holiday?”

Do you remember the movie “The Devil Wears Prada”? She is the inspiration behind the character Miranda Presley. She may be the Ice Queen but among her close friends including Karl Lagerfeld, Marc Jacobs, Oscar dela Renta, Nicole Kidman and many others, she can be warm and loyal. And a lot of people want to get into Wintour’s inner circle of friends.

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