Posts Tagged ‘London’

Balthazar LondonBalthazar restaurant in New York carries a lot of meaning at Prosek Partners. About half of our firm had their first interview there, with me, over breakfast. Keith McNally’s well-known spot is around the corner from my former apartment and always provided a great atmosphere for morning conversation. So when Balthazar opened in London, I was excited to check it out.

This week, while visiting my colleagues across the pond, I had an opportunity to pop in and see Balthazar London firsthand. And when I walked through the door I was utterly shocked. The place is an exact replica - to the point where I kept thinking I'd be walking out on Spring Street upon leaving.

As I stepped back and thought about the experience, I was struck by the fact that Balthazar truly is a masterful example of how to maintain consistent brand standards. McNally has matched every light bulb, napkin and booth and the menu is the same. I should be impressed (our profession is obsessed with consistent brand standards, right?), but I couldn't help thinking that some small nod to the differences between New York and London and the cultures of the British and American people would be appropriate. For example should the shrimp on the menu in London not be called prawns? And despite London vernacular, the frites weren't called chips.

I walked away feeling both awestruck and unsettled. For a marketer like me, that is an oxymoron-like emotion, one that has left me still thinking about the Balthazar double take. End of Story

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The Week Unpeeled

An amazingly busy and heavy news week filled with tragic headlines, with global focus on the Boston Marathon bombings and a closely watched manhunt (one of the biggest in US history) that ended in the arrest of a 19-year college student, who with his brother killed in a police firefight, allegedly were responsible for the two homemade bombs at the finish line of the famous race. The live proceedings of the dragnet become reality TV or online viewing with the most recent coverage on why this happened and how it could have been prevented. (UK coverage over the weekend focused on the “what” of Chechnyan ties and the “why” of photos of Bostonians celebrating the capture for such a tragic story.)  The vast amount of civilian coverage of the bombing from smartphones made spectators at the race news “capturerers,” not really witnessed at this intensity. London marathoners on Sunday observed a 30-second moment of silence before the start of their race.

Elsewhere:

  • A fertilizer plant in Texas exploded (at the strength of a 2.1-magnitude earthquake), killing as many as 15 people, leveling many homes and injuring up to 180;
  • An Elvis impersonator was charged in sending ricin-tainted letter to the president and others;
  • The Senate rejected new restrictions on firearms;
  • Al Neuharth, the media mogul who ran Gannett Company and created USA Today, died;
  • Blackstone ended its bid for Dell with ownership still in pursuit;
  • The Dow also suffered, ending down 317 points for the week, or 2.1 percent, to close at 14547;
  • A small Brooklyn news outlet, InsideClimate News, which was founded just six years ago and funded by charitable foundations and readers, won a Pulitzer for national reporting, along with four from The New York Times, one from The Wall Street Journal and two from The Star Tribune in Minneapolis, among others; and
  • The Sunday Times published the Richest in Britain list with the top seven coming from outside the UK, many from Russia, highlighting the “lure of Britain to a footloose global elite”; top spot goes to Alisher Usmanov, part owner of Arsenal football club. End of Story
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The Week Unpeeled

Hot water all around: First and definitely foremost last week, the Senate slammed JP Morgan for its London “whale” trades amid accusations that the bank “brushed off internal warnings and misled regulators and investigators.” (Some estimates put firm’s loss as much as $6.2 billion on the trades.)  In addition, the Fed cited weaknesses in stress tests capital planning for JP Morgan and Goldman Sachs, which could limit plans for dividends or buybacks. And then, SAC Capital was hit with a more than $600 million penalty to settle two insider-trading cases.  What gives, especially post Dodd-Frank and bailouts and cliffs (oh, my!).  More to be seen but certainly questions on ethics, control and hubris will surface.

Elsewhere:

  • The Dow, after a 10-day streak of gains, which included several for the record books, ended Friday at 14,514, up 11 percent for the year;
  • Amid the record-setting advances, it’s interesting but no surprise that Lipper Funds (with Oppenheimer) ran a six-page ad in The Wall Street Journal on Friday built on theme that “stocks are back”;
  • Samsung unveiled the Galaxy S4, with kinda wild features like a SmartScroll that can follow your eyeballs or hand motions to scroll, in an aggressive bid to take a bigger share of the US market;
  • FLOTUS Michelle Obama will appear on the cover of Vogue in April;
  • Anna Wintour was named artistic director of Conde Nast, adding to her 25-year role as editor of Vogue; and
  • The conclave of Cardinals elected Jorge Mario Cardinal Bergoglio from Argentina, aka Pope Francis, as first Latin American pontiff. End of Story
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The Week Unpeeled

The US employment report propelled markets even higher last week after a robust January, with pretty impressive numbers for this economy, with non-farm rising by 157,000 jobs and November and December numbers revised upwards by a total of 127,000 jobs. The unemployment rate ticked up to 7.9 percent last month (a new normal level?), and US saw real growth decline in the fourth quarter (down 0.1 percent) but markets charged ahead nonetheless.  The Dow ended up 149 points on Friday to close at 14,009, the highest close since 2007 and up 6.9 percent since the start of the year.

Elsewhere:

  • Blackberry changed its name to Blackberry (remember it was really called RIM) and launched a new phone that got pretty good (not universal, though) reviews;
  • The iconic black cabs of London were bailed out by a Chinese automaker;
  • The Washington Post is moving out of its headquarter office of four decades to a newsroom unknown;
  • Time Inc. is cutting 500 from its staff, or 6 percent;
  • Television (?) series “House of Cards” debuted with Kevin Spacey this weekend on Netflix, receiving more media attention about its unusual distribution (all episodes available immediately on Netflix) than its content;
  • The New York Times (and other media outlets) reported that their records have been attached by Chinese hackers, coinciding with reporting on The Times investigation about wealth of China’s prime minister;
  • News and talk dribbled out about changes at CNN under new chief Jeff Zucker, with Chris Cuomo hired away from ABC;
  • The Super Beyonce Commercial Bowl amid reports that some of the TV ad actors were lip synching;
  • Former New York City mayor Ed Koch died with local media bestowing heaps of seemingly well-deserved tributes/praise; and
  • The TV comedy “30-Rock” bid farewell last week, with Tina Fey, the star and writer, honored with a Ben & Jerry’s named after her character Liz Lemon (probably better now than making the cover of Time). End of Story
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The Week Unpeeled

So 2012 comes to a close in a year that saw “Fifty Shades” and “Gangnam Style” break all kinds of records, suggesting the nation fell off the cultural cliff well before the fiscal cliff, which has not surprisingly dominated headlines the last few days. President Obama appeared on NBC’s “Meet the Press” on Sunday (taped Saturday), where he reportedly said he did not see an agreement yet, although he was “modestly optimistic.”  More certain is some stop-gap short-term measure merely to prolong the cliff hang.  No matter, markets did fall over edge over the unknown outcome with the Dow sliding for five straight days, ending down 1.2 percent on Friday alone to end at 12,938.

Elsewhere:

  • Private-equity firm Carlyle is buying Duff & Phelps for approximately $600 million;
  • William Rees-Mogg, editor of The Times of London from 1967 to 1981 died, who was attributed to bring the paper into the “modern era”;
  • The Queen bestowed knighthoods and other honors last week to a list that was dominated by many sports figures from the Olympics, including Bradley Wiggins, cyclist, and Ben Ainslie, sailor;
  • Gen. H. Norman Schwarzkopf, US Commander in the Gulf War, died at 78, with an interesting obit in The New York Times that described a man fluent in French and German and raised in five countries before becoming “Stormin’ Norman”; and
  • Death Valley was named the hottest place on earth, knocking a spot in Syria off its Hades perch and making the California desert officially hell on earth. End of Story
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