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Capitalism

magazines

Execs Jam While Time Inc. Burns

Media companies are all facing a fundamental quandary: They have to throw lavish, expensive events to impress advertisers, even as they slash editorial budgets in ways that upset longtime employees. Well, it's only a problem if the corporate suits are worried about perception issues, which they may not be. But you have to admit that it does look bad when People editor Peter Castro (pictured, at left) and other execs are partying it up in the Bahamas "getting a massage, being given a wii fit, jamming with some old dudes, being on vacation" at a fancy sales meeting while the company faces a hiring freeze. Hey, that's capitalism! Angry email from an insider, after the jump. More »

trends

"Our customers wanted more flip-flop luxury"

See these flip-flops? They're not just any flip-flops. They're high fashion, "Married to the Mob" flip-flops, and they cost $42. Can you spot the reason why this is stupid? That's right: you pay ten times what you would pay for a plain pair of flip-flops, in order to have a brand name which is covered by your foot when you are wearing them. I imagine fashion snobs must just hang these flip-flops jauntily over their shoulder instead of slipping them on their feet, so that the logo can shine freely. In fact, the entire idea of paying extra for name-brand flip-flops is a bit ridiculous. But the price tag can get much, much worse than $42. Allow us introduce you to PechePlatinum—the "World's Most Expensive Flip-Flops." More »

classic ads

Back When America Was Goofier

Pop culture is always a step behind the real cutting-edge culture that defines what's cool in the current zeitgeist. And mass media advertising, with its drive for universal appeal, is generally made from an even weaker brew than pop culture. What that means for us is that these ads from the 1950s and 60s—which lack not only today's sense of political correctness, but also their own era's sense of cool—are an entertaining lens through which to view the age of beatniks and free love. Groove your way to the hippie party with a 1969 stereo in your new General Motors automobile! Six classic examples [via Flickr/ Coudal], after the jump. More »

jennifer lopez

British People Doesn't Understand How American People Work

The English are so smart. Not only do they have those great accents, but they ask the pressing questions, like, "Does J-Lo REALLY need to sell pictures of her twins for $6 million?" Why, Goddamn, I was just going to make a joke about the cannibalistic nature of celebrity culture. But now that I think that about it, maybe J. Lo doesn't actually REALLY need those six million dollars. More »

capitalism and its discontents

Sam Zell Burns Boats On Shore Of New Tribune World!

Tim Rutten's last media column for the LA Times is about the purchase of the paper's parent company by Sam Zell:

[W]hen Cortés landed on the shores of the New World, he burned his ships so that his men would know that death was the only alternative to success. For the foot soldiers of American commerce — like the 20,000 Tribune employees who have been drafted into serving as Zell's co-investors — that remains true, at least in a financial sense. But American capitalism being what it is, there's always a comfortable way out for the guys at the top.
It is exactly this sort of metaphor that will make me miss Rutten, before he shuffles off to the Op-Ed page. WHO WILL BE ZELL'S DOÑA MARINA? WHOOOOO? Disclosure: Does anyone care that I'm taking some of Sam Zell's money?

A change of hands for Tribune [LAT]


neediest cases need cases

Craven Fashion Mag Eds' Crazed Beggings For Flashy Crap!

The blogfest that is T magazine's website has taken a turn for the greedy, as the staff has begun posting "holiday wish lists" that might as well be coded solicitations for publicists! "Fashion magazine editors may have it worse than the general population. Every day we find ourselves surrounded by beautiful objects," say the supposedly tongue-in-cheek bloggers, before going on to solicit Brunello Cucinelli wool flannel travel jackets and the harlequin dress from Miu Miu's Spring/Summer collection. ATTENTION PUBLICISTS: I WOULD LIKE A NEW PAIR OF SHOES, BECAUSE THESE HAVE HOLES, FOR SERIOUS. SEND THEM TO 76 CROSBY STREET, NY NY 10012 BEFORE MY LAST DAY, 12/31. KTHXBAI!

The Federal Communications Commission has voted to allow broadcasters in the 20 largest media markets to also own their very own newspaper. The decision overturns a 1975 ban that noted "it is unrealistic to expect true diversity from a commonly owned station-newspaper combination." Ah, so goes the final obstacle barring the way of the inevitable alliance of Clear Channel and News Corp. Dark and difficult times lie ahead; a new age has begun. But there are worlds beyond our own. Power can be held in the smallest of things. Or something. [CBS]

capitalism

Goldman Sachs Bonuses To Average $600K

Dear all dudes who work at Goldman Sachs: We're in. Let's roll. Seriously, if you're taking home $600K (on average) for Christmas, we are all willing to stay home and tend the plants on the terrace and make you dinner and we don't really care if you're a schlub who thinks therapy is for wusses and you have five asthmatic dachshunds and self-loathing. Fine! Yes you, Steven Schukei, 30, VP of technology—you win New York!

Goldman success brings unwanted attention [Reuters] [Photo: AP/Bebeto Matthews]


fire in the hole

Drive-Thru Pranks Flooding YouTube


NBC News blows the lid off the depravity on YouTube. No, not swinger housewives gone wild: There's a rash of videos being uploaded of kids tossing drinks back at the faces of drive-thru workers. Aren't you glad you live in New York, instead of America? Still kind of wish we had drive-thru fast food though, for late night gypsy cab snacks and stuff.

gawker book club

"Global Capitalism Has, At Present, No Better Ambassador Than David Beckham"

How very, very wrong we were to dismiss insanely prolific celebrity biographer Andrew Morton's "Posh and Becks" out of hand! It turns out that the book contains a trenchant critique, not only of the current celeb-industrial complex, but of the bedrock of the global economy! And also it contains some of the most hideous cliche-stacks ever printed on paper. More »