The Louis Vuitton Sandwich Bag 🥪
This Week in Review☕️ : The World Economic Forum is happening in Switzerland | Luxury brands take inspiration from food | Morgan Stanley to pay fine to avoid prosecution | Microsoft overtakes Apple as
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Quick Bites:
Business💰: When you're smart or wealthy, or even better, both- then you break out of the midwinter blues by going to Davos.
The World Economic Forum is happening in Davos Klosters this week and billionaires and heads of state have descended on the "Super Bowl for the financial elite" in Switzerland.
For 51 weeks a year, the high-altitude Swiss town is a low-key ski resort. Then for one week in mid-January, Davos turns into the most exclusive hub to get into.
A hub where corrupt politicians, unelected technocrats and insecure complex billionaires discuss how to milk even more out of us plebs under the disguise of “protection, safety and concern” 🤬
The 54th World Economic Forum will occur against its most complicated geopolitical backdrop to date, its president Borgo Brende claimed.
Much of this year's focus would be high-level diplomatic talks on wars in the Middle East, Ukraine and Africa.
Long story short: The world's criminals will discuss how to make life worse for the general population. Oh and maybe start a few more wars 🤔
A complicated economic backdrop, including central bank policy and increasing debt, would also dominate the agenda, Reuters reports.
"We are expecting 2.9% growth this year and at least the global economy is growing, but it could be doing better"
Our Thoughts💡: The WEF's first event is titled "Rebuilding Trust".
They arrive every year at Davos.. These self-appointed, carbon-guzzling elites spewing their emissions from their big private jets as they land on -14 C temperatures. They stay in ultra luxurious hotels, use air conditioning, heating, fluffy towels washed daily, dine on overpriced food, drink the best of wines, secure big contracts, and finish off with a day of skiing 🎿
After finding all possible ways on how to minimize YOUR lifestyle, their big topic this year is how to re-establish trust 🙄🙄
Umm we think its safe to say that won't be happening anytime soon.. We'd rather trust a crack addict to look after our wellbeing and wallet🖕🏻
Fashion👛: Louis Vuitton launches "The Sandwich Bag", that costs more than $3000.
Made from supple cowhide leather in the same color as the brand's famous shopping bags, it is the latest accessory that looks like the paper lunch bag from your grade school years.
Umm whoever drops 3k on that deserves to have their lunch stolen 👋
Gonna order an extra fancy meal for my extra fancy bag today.. 🐷
We're thinking Hot Pot Buffalo Chicken Sliders.. Soft toasted potato rolls, juicy pulled chicken tossed in hot sauce, topped with fresh crunchy ranch coleslaw and creamy chunks of blue cheese 🧀
A sandwich fitting of the sandwich bag, right folks?!🥰🥰
This not the first time that Louis Vuitton has drawn inspiration from everyday and, traditionally, much more ordinary items.
In its Spring-Summer 2007 collection, the fashion house paid homage to the budget-friendly checkered plastic laundry bags.
In 2022, the brand also released a cross-body bag resembling a paint can, CNN reports.
Our Thoughts💡: RICH PEOPLE ARE INSANE.. The 1% when they have billions but don't use it for anything remotely normal whatsoever🤯
Our Mood right now💡:
There's a storm coming Mr. Wayne. You and your friends better batten down the hatches, because when it hits, you're all gonna wonder how you ever thought you could live so large, and leave so little for the rest of us
Finance 🏦 : Morgan Stanley to pay $249 million fine to avoid criminal prosecution.
The penalty will end multiple investigations into how they handled "block trades" (large stock trades that can move stock prices) for their institutional clients.
Morgan Stanley in the news today about a settlement with the SEC which has been ongoing since 2018:
💡The fine is $249 million
💡Relating to Block trading and the passing of confidential information
💡Deception, fraud and compliance failures
What would a bank have to do that would cause the "law" to file criminal charges? It’s a trick question guys.
They are ALWAYS PROTECTED from being charged no matter how routinely they steal 👋
According to The NY Times, The DOJ has pushed in recent years for prosecuting white-collar defendants when it settles with their employers and extracts big-money settlements that shareholders pay.
Here, the outcome (in a fraud case) was more lenient. Is this the outcome people expected?
Seems like a slap on the arse to us🙄
Big Tech 📱: Microsoft overtakes Apple to become the world's most valuable company.
FYI: Microsoft and Apple account for ~14% of the S&P 500
Shares closed on Friday night up 1% for a market value of $2.89 trillion, compared with Apple's $2.87 trillion, Bloomberg reports.
Meanwhile.. How we gonna get get rich in 2024:
If we sleep until noon, we’re only going to have to pay for 2 meals
Follow us for more money hacks 😜
Microsoft's stock is up 3.3% this year, in part by its multibillion-dollar investment in OpenAI, creator of ChatGPT.
Meanwhile, Apple has been facing struggling demand for its iPhone and other consumer products, especially in China, according to Bloomberg.
Travel ✈️: More data required before Boeing jets can fly again.
Boeing has been under intense scrutiny following last week's incident aboard an Alaska Airlines flight in which a door-sized panel blew out, forcing an emergency landing, Bloomberg reports.
Just boarded a Boeing 737. Wish us luck! Because when one door closes, another opens.. right?
💡The Federal Aviation Agency said it plans to audit the 737 Max 9 production line.
💡Also last Thursday, a class action lawsuit was filed against Boeing on behalf of the passengers of Alaska Airlines flight 1282, reports CNN.
💡Gross orders at European planemaker Airbus more than doubled last year compared with 2022, hitting an all-time high.
Quicker Bites:
Vivek Ramaswamy suspends Presidential campaign. He says he is supporting Donald Trump.
HBO Max wins big at the Emmys.
Hottest year on record puts Earth in touching distance of critical warning threshold.
JPMorgan says India is its No.1 market in Asia; investors unlikely to return to China this year.
Crypto bulls see Bitcoin flying above $100,000 after ETF approval.
AI to disrupt 40% of all jobs: IMF.
Uber is shutting down ‘Drizly’, the alcohol delivery service it acquired for $1.1 billion in 2021.