KICKING KMARTWHILE IT’S DOWN
Protestors in white shirts stroll through Kmart and other retailers’ aisles pushing empty shopping carts to make a point about overconsumption.
As if Kmart doesn’t have enough on its plate – now it has to be on the lookout for the men (and women) in white jackets.
Flocks of white-jacketed protesters hit the aisles of major retailers on the first Sunday of every month for a demonstration known as Whirl-Mart, Bull’s Eye spy Lisa Marsh discovered.
But instead of loudly chanting slogans or their ideals, this group quietly strolls through the stores’ aisles pushing empty shopping carts, adorned with signs touting statements like “Ritual Resistance” or “Consumption Awareness.”
“We’re using the venue as a symbol . . . an ideology,” said Andrew Lynn, the organizer of these protests. “It’s more about consumption,” not big business. He added that the protesters have different reasons for demonstrating – like voicing their dismay with the large retailer closing smaller, local merchants. Others are trying to change what the giant shopping spaces mean to them.
So while Kmart, which filed for Chapter 11 bankruptcy protection last week, is wading through the beginnings of its reorganization and all that comes with that and soothing jittery vendors and partners (like home diva Martha Stewart), many of which are owed millions and millions of dollars, it should consider itself lucky.
At least the “Returners” from Europe, who buy and return merchandise as a form of protest, haven’t started looking for blue light specials.
MUSICAL CLERK HEARTFELT SONG
While millions of people have made tons of money working on Wall Street, it is rare to find someone who actually wants to give some of it back.
But that’s exactly what Jo-Ann Barton, a cash management clerk at Spear, Leeds & Kellogg, has set out to do. Barton, who has worked on Wall Street for 11 years, has made a second career out of writing ditties – including “Money” and “Slow Day”-inspired by her experiences in the business. And now she is about to produce another to help raise money for the families of victims of the World Trade Center disaster.
The song, called “Ordinary Day,” is about all the people who rushed to work with their briefcases in the morning and never knew “they wouldn’t be coming home,” Barton told Bull’s Eye.
“Writing the song was therapy for me,” said Barton, who claims that she herself could’ve easily been a victim since she commuted through the World Trade Center. “I gave blood, food, money, but I felt I needed to do more. So I wrote this song to give proceeds to the families of the office workers.”
Barton’s CD will be available next month in record stores and on Amazon.com, as well as through her Web site, joannbarton.com
AT LEAST THE BAD ENRON ADVICE CAME FREE . . .
It’s yet another case of Cramer vs. Cramer.
Jim Cramer, the outspoken founder of TheStreet.com, has been running an ad for RealMoney.com, the paid portion of his news site.
“Did you sell Enron at $43?” screams the ad. “RealMoney readers did!”
In the ad, Cramer points out that he was negative on Enron as early as August, when he wrote: “I know I won’t touch it. Too scary . . . Enron’s a goner.”
However, readers of the free content on TheStreet.com were still getting bullish comments on Enron as late as Oct. 26.
“It’s time for Enron to grow up,” wrote TheStreet.com’s columnist Christopher Edmonds on that late date. “Despite a lot of uncertainties and risk, I think it will.”
Edmonds also quotes a bullish Wall Street analyst.
“Long-term investors should hold firm,” said Jeff Dietert, an analyst with Simmons & Co., as quoted in TheStreet.com’s October story.
Enron subsequently fell to pennies per share and filed for bankruptcy.
You get what you pay for.
Flattering Jobs for jobs
When Bull’s Eye thinks of Apple founder Steve Jobs, “evangelist” is not one of the words that comes to mind.
So it was a bit surprising to hear that Wabash & Lake, a marketing research firm, just named Jobs “Evangelist of the Month.”
Webster’s defines “evangelist” as “a traveling preacher” or “any of the four writers of the Gospel.”
As far as we can remember, those four writers would be Matthew, Mark, Luke and John – we don’t recall a Steve.
But Wabash & Lake insisted Jobs deserves the honor because of “his innovative approach to generating customer enthusiasm and devotion for a product.”
Isn’t that Jobs’ job?
No, said Ben McConnell, co-founder of the market research firm. He says Jobs has gone above and beyond the call of duty.
“Jobs’ introduction of the iMac is another masterful example in a long history of using buzz and evangelism marketing techniques at Apple,” he said.
Bull’s Eye asked if Wabash & Lake has Apple as a client.
“No,” McConnell responded.
Does Wabash & Lake want Apple as a client?
McConnell laughed, but did not respond.