Sunday, March 30, 2008

VOGUE Cover with LeBron & Gisele, Racist?


The cover has caused a lot of chatter, particularly online, over whether the shot (taken by famed photographer Annie Liebovitz) perpetuates racial stereotypes. Some look at the cover and don't think much of it; [just] that it's an interesting shot of two of the world's most recognizable people. The irony is that such complaints come just after recent complaints have been in the media on the topic of 'why aren't there more African-American models?'...Yet, people are seeing the cover as the embodiment of racial and sexual stereotypes; that it's a depiction of an aggressive, black man in a King Kong-like pose, embracing a white woman, a Fay Wray-like "damsel in distress." Still-some say that there were plenty of better photos to choose from to put on the cover. (Rumor has it that LaBron actually chose the shot as the cover photo.) As a viewer, I can't help but wonder...what's the more racist response to the cover: to see racial stereotypes and object, or to not notice race at all?

Saturday, March 22, 2008

High-Tech Mirrors for the Dressing Room

Coming-soon to brick-and-mortar stores: Mirrors that can identify whatever button-down, trench coat, or polo shirt they are trying on. Enter the dressing room, and the looking glass will play a little tune and display promotional graphics for the designer of whatever you’re trying on, product information (in a recent demonstration, the mirror recognized a “sea island cotton dress shirt” by British designer Nick Tentis), and even suggestions for coordinating items. Push a button (or the touch-sensitive glass) to request that a salesperson bring a different size or color. Made of chemically treated glass, the mirror is unremarkable from the front, but this masks a sophisticated arsenal of technology, including a computer, an L.C.D. screen, a radio-frequency-identification reader, and an antenna. RFID transponders embedded in clothing tags bring the mirror to life. While some shoppers may find it entertaining and perhaps helpful, the magic mirror was designed primarily to perform wonders for retailers. For starters, the retailers are competing with the increasingly interactive world of online shopping, where buyers have virtual personal assistants and group ratings at their disposal. According to Forrester Research, which is based in Cambridge, Massachusetts, online apparel sales will total $22.1 billion this year, up 21 percent from 2006, and brick-and-mortar retailers are feeling threatened. With the high-tech mirrors, “retailers are buying the ability to provide an enhanced consumer experience,” says Dick Lockard, C.E.O. of Thebigspace. But the magic mirror may provide retailers far more powerful benefits. It may make it easier to hook shoppers on more expensive goods or push a designer’s duds. It recognizes and remembers what clothes customers try on, creating what Devon Ferreira, a principal at Infosys, calls a “database of consumer intention.” This information can be compared against the database of consumer action—the cash register—to analyze what’s selling and what isn’t. The data could affect not only the way retailers order and stock their merchandise but also how products are developed. For example, if customers find a certain pair of jeans appealing on the rack but not in the fitting room, designers will know to tweak them.
Infosys is also touting the mirror’s ability to deter theft. In 2006, shoplifting accounted for $13.3 billion in retail losses, and companies lost 1.6 percent of sales to theft and fraud, according to a study released this June by the National Retail Federation and the University of Florida. Retailers have installed security tags, alarms, and video feeds to deter and catch thieves, but the mirror promises a more elegant solution. Say a customer in a store that has an average price point of $100 brings $5,000 of merchandise into a fitting room. The mirror would alert staff to a potential shoplifter—or to a big spender it would also be wise to pay special attention to. The system is being marketed directly to retailers: Infosys has reached out to about 60 top companies among its existing customers, targeting mainly North American footwear and clothing manufacturers, and then markets in Europe and Asia. It is focusing on the lower high-end and higher middle-market retailers who want to expand customer service but not their payrolls. Infosys is cagey about who is biting but says that about four companies are currently on board. Priced with a subscription plan, the mirrors cost in the low-to-mid five figures per store annually.
One question: Where’s the off button? There didn’t appear to be one during the demonstration, but Ferreira says the mirror has one. “Consumer privacy is something we manage closely,” he says.
It remains to be seen how receptive shoppers will be to getting down to their skivvies in front of such observant technology.

Friday, March 21, 2008

Products Promote SexandtheCity Movie


Strategic-product placement is the new 'commercial' for Marketers.
Skyy vodka, which is being named the “official spirits sponsor” for the movie. Among the tie-ins are drinks made with Skyy to be served at Houlihan’s restaurants and named after characters like Carrie, Samantha and Mr. Big. Skyy Spirits, part of Gruppo Campari, is among eight marketers — big, small and in between — that have agreed to be promotional partners for the New Line Cinema release “Sex and the City: The Movie,” due May 30. There is an unusual back story, as movie people say, to the efforts by New Line to find promotional partners: It was complicated by the myriad brands seen and discussed in the 94 episodes of the TV series. Among them were shoes designed by Manolo Blahnik and Jimmy Choo, an Apple computer on which Carrie (Sarah Jessica Parker) wrote her columns and designer labels like Chanel, Dior and Dolce & Gabbana. Those brands were written into the scripts for purposes of verisimilitude rather than commercial considerations, said John Melfi, an executive producer of the series who is a producer of the film, “to establish the reality of the world the characters lived in.” “It’s not sticking a bowl of cereal or a Coca-Cola in front of the camera,” he added. “It’s organic to the lives of the ladies.” For instance, Bag Borrow or Steal became involved with the film, Mr. Melfi said, because a character mentions the company in a scene in the script, which was written by Michael Patrick King. (Mr. King is also a producer of the movie as well as the director.) “It’s a Cinderella story for us,” said Jodi Watson, chief marketing officer at Bag Borrow or Steal. Mercedes-Benz [also] became involved because an event during Fashion Week in Bryant Park — officially known as Mercedes-Benz Fashion Week. The brand is also providing an S-Class limousine for Mr. Big (Chris Noth) and a new GLK luxury sport utility for Samantha (Kim Cattrall). Returning the favor, Ms. Cattrall joined Dieter Zetsche, chief of Daimler, at the Detroit auto show in January to introduce the GLK. Executives at Glacéau echoed that perspective. “We only partner with properties that are a natural fit,” said Rohan Oza, senior vice president for marketing at Glacéau. The pervasive “retail presence of Vitaminwater in New York,” he added, where the movie, like the series, takes place, meant that “people will accept the partnership.” The centerpiece will be the relabeling of two flavors, Rescue Green Tea and XXX (Triple Antioxidants), to salute the film.
(Sourced from NYtimes.com)

Monday, March 17, 2008

DVF In AMEX Commercial

Long-acclaimed fashion designer Diane Von Furstenberg will join the company’s “Are you a Cardmember?” communications campaign which features extraordinary Cardmembers telling their stories, while illustrating what it means to be an American Express® Cardmember. The artistic spot opens with a collection of personal scenes around Von Furstenberg’s home and in her studio as she reveals how through fashion, she became the woman she wanted to be. As beautiful images capture the inspirations in her life, she expresses that her role in fashion is to make women feel more confident. The spot was directed by Bennett Miller, praised for his direction of the film “Capote” in 2005, and reflects the essence of creative collaboration in storytelling. Von Furstenberg’s national campaign will include a print advertisement shot by legendary photographer Annie Leibovitz. “Women inspire me and I inspire them to be independent and free which is how I feel when I use my American Express Card,” said Von Furstenberg. “American Express represents a sign of independence and freedom and if you have your card, you can do anything." “Diane Von Furstenberg is iconic and truly a timeless legend within the fashion industry,” said Deborah Curtis, Vice President of Advertising, American Express. “Diane enabled us to capture the things in her life that drive her creativity and passion. We know that her sense of individuality and empowerment will inspire and resonate with women everywhere – and that confidence is the essence of what it means to be a Cardmember.” In support of fashion designers and the future of the industry, American Express has become a supporter of the Council of Fashion Designers of America (CFDA) with a donation of $500,000 to the CFDA/Vogue Fashion Fund (CVFF). The CVFF was established to help emerging American design talent find continued success in the business of fashion.
(Sourced from Earthtimes.com)

Friday, March 14, 2008

CFDA Questioned for [still] Too-Thin Models

The skinny-model debate rages-on, thanks to Bradley Bayou; the former Halston designer started fighting the good fight after watching his own daughter battle anorexia. He stopped using size-0 and size-2 models, but still witnessed his daughter collapse from the disease. "There are two ways to become a size zero," Bayou said Tuesday night at Harvard. "Starve yourself or take drugs. Or both. And yes, they all do it." The designer said the CFDA is ignoring the problem. CFDA officials, however, feel the guidelines drawn up over a year ago to help designers and casting directors identify eating disorders and ensure runway models are healthy are in fact working:
(Responding to Bayou, CFDA executive director Steven Kolb said Wednesday the organization's education and awareness efforts are causing a culture shift. "There is no question there has been movement," he said. "I see it already on the runways. I'm getting calls from designers and casting agents who are not using girls who don't meet our criteria for health....Getting involved in the complexity of a standardized law [regarding a mandatory minimum body mass index] is not the answer.")
Maybe New York should finally start taking cues from our Euro counterparts? Milan Fashion Week prohibits models with a body mass index below 18.5 from the runways; Madrid rejected 30 percent of models from walking its recent Fashion Week because they were unhealthy; but we have no such regulations, and watching the New York shows this season often felt like an exercise in bone counting. It's great people are still talking about this issue, but we'd guess that until a designer like Marc Jacobs decides flesh is in, it's just all talk.
(Sourced from NYmag.com)

Femininity Rules the Workplace This Spring

Business Looks for work: This season, femininity will rule the boardroom.
"Although a smart black pant suit will always carry confidently, modern dresses with jackets reclaim a place in the boardroom," says Mario Bisio, owner of luxury apparel store Mario's (www.marios.com).
Two more trends to look for:
Wide-leg pants are the answer to last year's skinny pants trend. Opt for khaki or linen trousers and balance out the look with a fitted double-breasted jacket or oxford blouse.
High-waisted pencil skirts are a chic way to bring the high-waist trend into the office. Details like buttons or belts will make your waist look smaller and your stomach flatter.
Casual Looks Business casual is not the same as after-work casual. Leave the jeans at home and opt for a comfortable yet pretty dress, instead. This year's dresses are flattering [for just about any body shape.] Look for a sleek, A-line dress or shirtdress in a solid color, or a wrap dress in a bold print. Opt for a dress with an appropriate sleeve length, depending on the season, and a fabric that isn't too clingy. *Try Pairing bold colors such as yellow, with classic black and white. Whether you're building your wardrobe or simply looking to update your style, follow these basic-'commandments of style:' Restrain yourself. Never let your accessories wear you.Invest in accessories. Think about it this way: You're not going to wear the same pair of pants all week (one would hope), but your bag or briefcase is a constant companion. Clients, employees and colleagues all notice what's draped on your arm. Invest in a quality piece that reflects your style. And in this age of laptops, cell phones and PDAs, a bag that will carry both your purse and your hardware is a lifesaver.
Make sure your-look, at the office (or anywhere) is polished and clean [yet expressive of you]--a detail that people really do notice. People don't necessarily notice if you're 'well-groomed,' but they definitely notice when you're not.
(Parts sourced from Entrepreneur.com)

Monday, March 10, 2008

R.L.Polo Loses In Court Over Polo Assc. Logo

Polo Ralph Lauren has lost its bid to prevent the United States Polo Association and its merchandising partner, Jordache Ltd., from using logos that resemble its famous trademark of a horseman whacking a ball. The 2nd U.S. Circuit Court of Appeals this week refused to overturn a jury's 2005 finding that three out of four logos used by the Polo Association didn't infringe on Ralph Lauren's mark. The association logos feature two polo players on horseback, not one. They also have the lettering "USPA" beneath them. A jury ruled that clothing buyers were unlikely to be confused into thinking they were buying Ralph Lauren shirts. The polo player symbol has appeared on Ralph Lauren clothing since 1972. The USPA was founded in 1890 and is the governing body for the sport in the United States. Jordache licensed the rights to USPA-branded clothing in 1998. Polo Ralph Lauren Corp. has been fighting with the Polo Association since the early 1980s over trademark issues and had won a previous suit over an earlier version of the logo. The Polo Association, is pleased with the ruling. "They have been working for many years now to vindicate their right to promote the sport and raise money for the sport using the symbol of people in an action shot playing the sport," said the USPA-lawyer, Friday. "We are hopeful that with this decision, we are putting the dispute with Ralph Lauren behind us and we will be able to coexist in the marketplace."
(Sourced from yahoonews-AssociatedPress)

Saturday, March 8, 2008

'Cheap-Chic' More-Readily Available

Rock star Avril Lavigne, the singer with raccoon eyeliner and skull-and-hearts style, is about to start selling a clothing line at Kohl's Corp., the traditional discount department store from Wisconsin that has been dabbling in trendier fashion. The deal, announced last week, would have been unfathomable five years ago, before Isaac Mizrahi teamed with Target Corp. to make discount shopping cool. Now it's just the latest iteration in the swelling establishment of cheap chic. While the idea of marketing trendy apparel and home goods to the masses—an idea pioneered at Target—has been building for years, the cheap chic phenomenon is seeping into everything from candles to bath towels to baby blankets to lamps, and bringing together such unlikely combinations as Wal-Mart and Norma Kamali.It is also presenting a headache for Target, whose sales have stalled since late last year. It's hard to say how much of the slowdown is a result of the economy and how much reflects rivals' latching onto Target's model. "Target used to offer sophisticated design at a low-price, and now everybody else is getting closer to that," said David Wolfe, creative director at Doneger Group, a New York-based fashion merchandising firm. "Everybody else is pushing the fashion envelope. It's hard to find ugly cheap stuff." Retailers who in the past wouldn't have had access to style icons are now wooing designers and celebrities to create product lines for the mass market. Fast-fashion retailer H&M, a relative newcomer to the U.S., rolled out a line from Madonna last year and in November sold limited-edition collections from such designers as Roberto Cavalli. Steve & Barry's, the purveyor of college sports team apparel, hired "Sex in the City" actress Sarah Jessica Parker to create its Bitten line where every item is under $20. Even Wal-Mart Stores Inc., known best for low prices, recruited designer Kamali last week to create an in-house lifestyle brand that will span clothing to housewares. Before landing Lavigne, Kohl's recruited luxury designer, Vera Wang. "There is a great tectonic shift in the ability to hold objects that used to be held by the very rich," said James Twitchell, an English professor and mass culture guru at the University of Florida in Gainesville. "There is almost nothing a rich person has that you can't also have." A generation ago, [this] would have been impossible. Fashion expert John Mincarelli recalls in the late 1970s when iconic designer Halston sold his label to Penneys and created Halston III, one of the first cheap chic lines. The deal marked the beginning of the end for Halston. Luxury retailers such as Saks Fifth Avenue and Bergdorf Goodman stopped carrying his collection. Women shunned the notion of wearing a high-priced Halston gown when the masses could find his name on labels at a mainstream store. Decades ago, if you bought cheap clothes they would never be considered 'in-fashion.' Such thinking began to shift about the time actress Sharon Stone paired a black Gap turtleneck with a black silk crepe Valentino skirt for the 1996 Academy Awards, setting off a wave of high-low fashion combos. Now fashionistas tout their ability to mix an $18 Target T-shirt with a $3,500 Akris suit.
(Sourced from ChicagoTribune.com)

Tuesday, March 4, 2008

Jill Stuart, to cut Lohan from Ad Campaign 08'

Last fall, the New York-based designer tapped Lohan to be the face of her brand's first celebrity ad campaign. But that was before a couple of rehab visits, a couple of film flops, and, most recently, Lohan's bare-it-all spread in New York magazine.Now, Stuart is casting her fall '08 campaign, and she has her eyes on Hilary Swank, a somewhat older actress with a decidedly more professional image. (The spring campaign featured models, not a celebrity, but Stuart said at the time that Lohan might return.) A company spokeswoman said it was premature to comment on plans for the campaign. "Nothing's confirmed. We haven't decided what we're doing yet." Has Lohan hurt her ability to land high-profile endorsement deals with her tabloid antics (see her police mug shot) and her immodest New York pictorial? Not necessarily, but it hasn't helped either, says Trey Laird, whose creative firm, Laird + Partners, has cast numerous top stars in its campaigns. "At the end of the day, the special-campaign option will go to people who project continued success, confidence and authenticity, and that is a lot [Lohan's] been missing."
(Sourced from condenastportfolio.com)

Cynthia Rowley to-be Honored in Arlington


Fashion designer Cynthia Rowley has been selected to receive the Marymount University Designer of the Year award at Portfolio in Motion 2008, the annual student fashion show.
The universities' Designer of the Year Award is presented annually to a fashion designer who has achieved excellence in the field of fashion, and has captured the imagination of both the industry and the public. Cynthia Rowley designed her first dress at age seven and sold her first collection to prominent New York stores while still a student at the School of the Art Institute of Chicago. Over the years, the Cynthia Rowley Collection has grown to include women's and men's wear, shoes, handbags, eyewear, belts, home products, baby gear, legwear, umbrellas, cosmetics, and fragrance. Today, the collection is available worldwide in better department stores and in Cynthia Rowley shops in the United States, Japan, and Taiwan, as well as her online boutique. Ms. Rowley has developed an international following, and her creative endeavors have garnered the attention of the Council of Fashion Designers of America (CFDA), which honored her with the prestigious Perry Ellis Award for Womenswear and a nomination for the Perry Ellis Award for New Menswear Design Talent. In addition, her latest book, Slim: A Fantasy Memoir, was released in May 2007, and she is currently taping the third season of Design Star on HGTV. In April 2008, Ms. Rowley will launch Whim, a new summer line of fun and entertainment products at Target. The theme of Portfolio in Motion 2008 is Fashionology, and the show will feature cutting-edge fashion that reflects today's technology-driven culture. It will showcase jury-selected garments designed and made by students in Marymount's Fashion Design program. The show is produced by the University's Fashion Merchandising students. Every aspect of the production-from first sketches to finished garments and from set design and choreography to the final runway walk-is the product of student imagination and effort.
Tickets for the Portfolio in Motion luncheon show, at which Ms. Rowley will receive the Designer of the Year award, are $100. Sponsorship packages are also available. For ticket sales and sponsorship information, please call (703) 526-6981

Monday, March 3, 2008

Can Polyester Save the World?

Boots, a cardigan, a festive blouse, and a long silver coat with faux fur trim, which cost $32.00, but looks like a million bucks. “If it falls apart, you just toss it away!” said Jo Jo, a teen-consumer-proudly wearing her purchase. Environmentally, that is more and more of a problem. With rainbow piles of sweaters and T-shirts that often cost less than a sandwich, stores like Primark are leaders in the quick-growing “fast fashion” industry, selling cheap garments that can be used and discarded without a second thought. Consumers, especially teenagers, love the concept, pioneered also by stores like H&M internationally and by Old Navy and Target in the United States, since it allows them to shift styles with speed on a low budget. But clothes — and fast clothes in particular — are a large and worsening source of the carbon emissions that contribute to global warming, because of how they are both produced and cared for, concludes a new report from researchers at Cambridge University titled “Well Dressed?” The global textile industry must become eco-conscious, the report concludes. It explores how to develop a more “sustainable clothing” industry — a seeming oxymoron in a world where fashions change every few months. It is hard to imagine how customers who rush after trends, or the stores that serve them, will respond to the report’s suggestions: that people lease clothes and return them at the end of a month or a season, so the garments can be lent again to someone else — like library books — and that they buy more expensive and durable clothing that can be worn for years. In terms of care, the report highlights the benefits of synthetic fabrics that require less hot water to wash and less ironing. It suggests that consumers air-dry clothes and throw away their tumble dryers, which require huge amounts of energy. Consumers spend more than $1 trillion a year on clothing and textiles, an estimated one-third of that in Western Europe, another third in North America, and about a quarter in Asia. In many places, cheap, readily disposable clothes have displaced hand-me-downs as the mainstay of dressing. “My mother had the same wardrobe her entire life,” Ms. Neild said. “For my daughter, styles change every six months and you need to keep up.” As a result, women’s clothing sales in Britain rose by 21 percent between 2001 and 2005 alone to about £24 billion ($47.6 billion), spurred by lower prices, according to the Cambridge report. And while many people have grown accustomed to recycling cans, bottles and newspapers, used clothes are generally thrown away. “In a wealthy society, clothing and textiles are bought as much for fashion as for function,” the report says, and that means that clothes are replaced “before the end of their natural life.” Dr. Julian Allwood, who led a team of environmental researchers in conducting the report, noted in an interview that it is now easier for British consumers to toss unwanted clothes than to take them to a recycling center, and easier to throw clothes into the hamper for a quick machine wash and dry than to sponge off stains. He hopes his report will educate shoppers about the costs to the environment, so that they change their behavior. There are many examples of how changing consumer priorities have forced even the most-classic retailers to alter the way they do business. In their efforts to buy green, customers tend to focus on packaging and chemicals, issues that do not factor in with clothing. Likewise, they purchase “natural” fibers like cotton, believing they are good for the environment. But that is not always the case: while so-called organic cotton is exemplary in the way it avoids pesticides, cotton garments squander energy because they must be washed frequently at high temperatures, and generally require tumble-drying and ironing.Sixty percent of the carbon emissions generated by a simple cotton T-shirt comes from the 25 washes and machine dryings it will require, the Cambridge study found. A polyester blouse, by contrast, takes more energy to make, since synthetic fabric comes from materials like wood and oil. But upkeep is far more fuel-efficient, since polyester cleans more easily and dries faster. Over a lifetime, a polyester blouse uses less energy than a cotton T-shirt. One way to change the balance would be to develop technology to treat cotton so that it did not absorb odors so readily. Also, Dr. Allwood said that “reducing washing temperature has a huge impact,” speaking of a significant drop from about 122 Fahrenheit to 105. Even better, he said, would be to drop washing temperature below normal body temperatures, but that would require changes in washing machines and detergents. The report suggests that retailers could begin to lease clothes for a season (just as wedding stores rent tuxedos) or buy back old clothes from customers at a discount, for recycling. Audrey Mammana, who is 45, said she was not “a throw-away person” and would be happy to lease high-end clothing for a season. She would also be willing to repair old clothes to extend their use, although fewer shops perform this task. But, she added: “If you cut out tumble-drying, I think you’d lose me. I couldn’t do without that.”
(Sourced from www.nytimes.com, 2007)

Sunday, March 2, 2008

Polyester; the New Fabric-Fashion

As Paris fashion week wraps up, several designers are lauding polyester as high fashion's next big thing.
Lanvin's Alber Elbaz, Nina Ricci's Olivier Theyskens and the American designer Narciso Rodriguez all have elaborate thousand-dollar polyester creations that women are starting to see in expensive stores. Designers say recent improvements in the synthetic fiber have made polyester lighter, thinner and more delicate. Mr. Elbaz, who got a standing ovation for a series of $5,800 polyester evening gowns at his runway show last fall, said the texture of the new polyester was like cream. "It was so light," he said, as he rubbed an imaginary piece of cloth between his fingers. To Mr. Theyskens, who also used polyester fabric for the first time last season, polyester is "an interesting subject." He likes it. But the fabric does have its limitations. Because it's so thin and stretchy, the new polyester is very difficult to sew, and can't be ironed. Mr. Theyskens struggled with it last season, while trying to create a diaphanous pleated gown with a metallic sheen. "You must handle polyester with care," he says. The gauzy, light polyester that designers are using today is a far cry from the stiff cardboard-like Dacron suits mass-marketed in 1954. The thick DuPont yarn made from petrochemicals was pushed as a godsend for postwar Americans because it didn't stain, didn't require ironing, dried quickly and was cheap to produce. In the late 1980s and early 1990s, polyester went undercover and got a sexier name: "microfiber." The thinner, lighter polyester fabric found new purpose in undergarments and athletic wear, where it wicks away moisture and protects against cold and wind. Intrepid designers like Calvin Klein and Giorgio Armani then began blending microfiber with cottons and wools in trench coats and suits to endow them with water- and wrinkle-resistant properties. Avant-garde Japanese designers such as Rei Kawakubo at Comme des Garçons also experimented with the fiber throughout the 1990s. But polyester's appearance in super-luxe European designer apparel is another matter. Its emerging popularity among prominent designers has been driven by both technological innovation and clever marketing. This season, he showed polyester-silk blended garments on the runway. Consumers who once thumbed their noses at polyester now deem the fabric très chic. "If Lanvin uses it, then it's cool," says Tracey Overbeck, an interior designer in Austin, Texas, who has bought several polyester-blended ensembles by designer Diane von Furstenberg. Giorgio Armani, an early adopter of the new synthetics, says he now prefers polyesters to natural fabrics such as linen, which wrinkles. The Italian designer, who himself enjoys wearing cashmere-and-polyester blend jackets, urges men to wear blends for better fit and elasticity. These days polyester, is anything but cheap, in part because of the soaring cost of the fossil fuels from which it is derived. A pair of pure polyester women's pants from Armani Collezioni sells for $615. The highest-quality polyester fabrics top out at about $37 per meter. That's more expensive than some silks.

(Sourced from TheWallStreetJournal.com, by RACHEL DODES and CHRISTINA PASSARIELLO)