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The Brexit mess

Anyone interested in the stability of the world economy can’t be happy with the Brexit mess. David Cameron took a political risk and it blew up in his face, while also offering a modern lesson of why Alexander Hamilton and James Madison were skeptical of letting the passions of the majority rule in any given moment.

Meanwhile, Donald Trump offered up a typical, idiotic and self-centered response.

  

GM switches from Super Bowl to Manchester United

GM is going with a more global strategy for its marketing and advertising, hoping to save money but also improve reach and effectiveness.

After ditching costly Super Bowl ads, General Motors is betting a five-year sponsorship of the Manchester United soccer club will bolster its Chevrolet line in the first test of the brand’s new global marketing strategy.

Manchester United, the 19-time English champion football team, has a worldwide reach that fits with the automaker’s desire to make Chevrolet a global icon, Paul Edwards, GM executive director of global marketing strategy, said in an interview prior to the announcement.

“It’s clear that global football presented us with a significant opportunity to spread Chevrolet around the world,” he said. “We recognized that it’s not only the world’s biggest sport but also the world’s most engaged fans.”

The agreement follows GM’s decision this month to halt paid advertising on Facebook and forgo next year’s Super Bowl championship game of the National Football League in the U.S. The decision to sponsor Manchester United isn’t related to GM’s move to stop Super Bowl advertising, Mr. Edwards said. Still, the numbers are compelling.

When Manchester United played against Manchester City, “that audience around the world scaled to 600 million people,” Mr. Edwards said. “Compare that to the Super Bowl here in the States, which is roughly 110, 115 million, and you’re talking five times that audience watching one regular-season game. It’s significant.”

It’s an interesting approach, and it probably makes sense for such a global brand, especially for world vehicles like the Chevy Cruze. If it works for Chevy they’ll roll this out to Cadillac as well. Read the whole article for more insight into the strategy.

  

Will Mubarak be able to keep his fortune?

Now that Hosni Mubarak has stepped down as dictator President of Egypt, it will be fascinating from a business a criminal point of view to see what happens to the fortune he has amassed on the backs of his people.

But over the last 20 years, Mubarak, his family and his close circle of advisers have enriched themselves through partnerships in powerful Egyptian companies, profiting from their political power, according to numerous reports. The 82-year-old leader and his two sons also wield the levers of the government, including the military and the country’s preeminent political party, to reward friends and punish enemies.

Mubarak — who stepped down on Friday in the wake of massive protests that have gripped Cairo and Alexandria for weeks — and his family have a net worth of at least $5 billion, analysts tell The Huffington Post. Recent media reports pegging the family fortune at between $40 and $70 billion are considered to be exaggerated.

Much of their fortune has reportedly been invested in offshore bank accounts in Europe and in upscale real estate. On Friday, Switzerland froze accounts possibly belonging to Mubarak and his family, a spokesman told Reuters, under new laws governing ill-gotten gains. Last month, the Swiss froze the accounts of Mubarak’s ally, ousted Tunisian president Zine El Abidine Ben Ali, whose overthrow inspired the first protests in Cairo.

The family owns tons of real estate throughout Europe and the rest of the world, along with stakes in numerous companies.

If Switzerland starts getting tough with them, there will be pressure for the rest of the world to do so as well. This will likely get ugly . . .

  

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