Alcohol makes the Market Rag again this week.
As we know, the Dow Jones Industrial Average has had a record-setting week, but not every company has been celebrating the happy days.
Apple CEO Steve Jobs apologized for the company’s financial practices. This comes as Chief Financial Officer Fred Anderson resigned from the board of directors.
Apple admitted Jobs was aware of the scandal, which included favorable stock option dates for certain people.
Shares of Apple stock were up in trading this afternoon but down after-hours.
Coffee giant, Starbucks, saw its shares rise today after news that sales in existing stores were up in September. Stores that had been open for at least 13 months experienced a rise of six percent. A CNNMoney report said colder weather lately combined with lower gas prices may have contributed to more coffee consumption.
Finally, as the holiday season arrives, the top toys start to emerge. Mattel’s new high-tech Elmo doll is leading the way and people are already starting to pillage store shelves and each other in the process. Hasbro’s new Monopoly product that I previously reported on will also be a big seller this holiday season. The fan-chosen “Here and Now” edition breathes new life into the classic board game. Wii and Playstation 3 are both going to cause excitement as well as we await word of the unfolding game explosion.
This Tickle Me Elmo/TMX Elmo situation is bound to get out of hand. The holiday movie, Jingle All the Way portrays the yearly situation perfectly, whether you agree with the lead actor’s politics or not. Now that is a buzz–creating a killer instinct-desire to have one certain toy for your children. The biggest difference between the Hollywood situation and real life: in reality, the parents want the toy more than the kid does.
That’s the rag for this week! Do read this article about moderate social alcohol consumption as it relates to the business world. As it turns out, drinking may be good for your career.