Shopping on 9/11 or Since the house is on fire, let us warm ourselves

Well, Bu$h did say the best thing you could do for NYC is to go shopping…

A Texas mattress retailer will close “indefinitely” following a controversy with an advertisement promoting its “Twin Tower” sale in honour of the 15th anniversary of the 9/11 attacks.

Outrage over the two adverts marks another chapter highlighting the seemingly annual struggles of brands and companies to capitalise on the deadliest terrorist attack on US soil, that claimed the lives of nearly 3,000 people.




Silly me, this is the shopping he was really referring to:

Within two weeks of 9/11 the business press was telling of corporate directors rushing to give bargain-priced stock options to their top executives. The Wall Street Journal would later piece the whole story together: stocks had fallen sharply after the attacks, reaching a low on September 21; families of 9/11 victims were still waiting for some piece of flesh or bone to confirm the loss of a loved one; soldiers were loading their gear for deployment to Afghanistan; and corporate executives were too busy counting their profits to notice. As stock options grant executives the right to buy shares at that low price for years to come, the lower the price when options are awarded, the more lucrative they are. “Since the house is on fire, let us warm ourselves,” goes an Italian proverb. Translated to English, it reads: “Grab the loot and run.” Some CEOs didn’t need reminding.



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