Conspicuous Consumption

In a WWD article by Jacob Bernstein,readers are shown the previous patterns of spending, and how they measure up today, no doubt in light of the current economic situation that plagues our country. It has become, "a binge and purge", and a "boom and bust" moment.

An example:

Boom: Paris Hilton
Paris is a perfect example of how the rich get richer, and people who are actually talented receive no time in the limelight, however well-deserved. Celebrities of her calibre are often famous for doing nothing truly relevant, if not just to entertain the masses with their antics.

Bust: Suze Orman
The financial expert is everywhere these days: on books, on Oprah, on CNN. Money-saving and tightening the belt-loops has become de rigueur.

Other "booms" include the CNBC network with John Stewart, and socialites without money. The busts? Things like restructuring as a business strategy and distressed real estate.

What once was, no longer is. Although a light-hearted take on the world's current economic meltdown, it does open our eyes and perhaps make us put our money where our mouth is.

The Domino Effect

Domino Magazine, of Condé Nast, is set to fold, WWD is reporting. The lifestyle/ home decor/ fashion magazine, which had seen a nice robust growth in sales, is having trouble keeping their ad pages up. The closing of the magazine comes as a shock, as just two weeks ago, Condé Nast "trumpeted the decision to give Bill Wackermann, senior vice president and publishing director of Glamour and Condé Nast Bridal Media, oversight of the troubled magazine to help boost its business."

There was no hint of the closing at the publsher's meeting, also held two weeks ago.

As stated earlier, the sales of the magazine were solid,"with its rate base swelling to 850,000 from 450,000 in just under four years — boosted by the inclusion of subscribers from the shuttered House & Garden. But, ad pages weren’t growing. Additionally,Home, Cottage Living, O at Home, Vogue Living and Country Home have all folded in recent months, all a sign of the tight economy.

But what of the employees of the magazine? "According to the company spokeswoman, several employees from the magazine’s edit and business sides will be placed in limited open positions at the company."