Emmy Awards 2008

OK, honestly I wasn't interested in the Emmy's this year (because there is simply so many more interesting news right now, like the financial news and the China milk scandal.) But the one thing that I did want to know about the Emmy's was that Tina Fey, Alec Baldman and 30 Rock won four 'big' awards -so yay for them!

Image Credit: http://www.style.com/

Ctrl BG: A Shortcut to Financial News 9/22

It’s not about fashion, but the state of the economy is still something that concerns everyone and I just thought it would be interesting to have something a little bit different on this blog once in a while. I’m sure I’m not qualified to comment since I probably don’t have nor understand all the facts of the situation, but it never hurts to share some thoughts right? So here are some thoughts on the last tumultuous week.

Personally I was shocked by the events of last Sunday. I knew that Lehman Brothers was in troubled waters, but I thought it was only going to be bought out like Bear Stearns was, by Bank of America or Barclays. Never in a million years did I think that it would go bankrupt (perhaps a strategy by Barclays so then they can buy the Lehman assets they want on the cheap, as they are doing now?). Instead of bailing Lehman out, BofA bought Merrill Lynch instead that night. At that point, I was vaguely aware that ML was not doing so well, but I didn’t know it had reached this stage yet. Apparently a sudden “evaporation of liquidity” (whatever that means), does that to banks. Who knew BofA was so strong? As I recall, they were the first to be hit by the Credit Crunch last year, with their takeover of Countrywide (another Fannie/Freddie-esque home loan bank) and huge write downs and lay-offs. As it turns out, Countrywide might be a good buy after all now that the competition has been weeded out somewhat and BofA is as strong as ever with the financial backing of their commercial banking side. With ML joining their team, their investment banking side is also going to strengthen up- by a lot. All in all, it was quite a traumatizing Sunday. It was like saying that Gucci went bankrupt and Prada got bought out and merged with Coach- all in one day.

Everything went down like dominos after that. The stock markets worldwide went down. AIG and Washington Mutual struggled to stay afloat. It was a good thing that the government stepped in with an 85 billion dollar loan in exchange for 79.9% of AIG, when they did (after Goldman Sachs and JP Morgan balked at the idea). With their wide range of businesses (mutual funds, insurances etc) worldwide, it would’ve been devastating. It would be as if LVMH declared they were in trouble! I’m not sure how I feel about the government using tax payer’s money to save a private institution, but I guess somehow had to do it. Can’t let LVMH fall! As for Washington Mutual (a.k.a. WaMu), I don’t feel too much for them, since they’re not exactly a household name (for me anyway, a bit like not everyone knows who Bottega Veneta is), but they’re currently trying to auction off some parts of itself.

The two remaining independent investment banks, Morgan Stanley and Goldman Sachs, were also under attack against their business model this week, even though both posted higher than expected earnings (yes, I mean profits!). It appears that many people now believe that an investment bank cannot survive without a steady cash flow from a commercial banking arm. Throughout the week, both banks said that they were committed to remaining independent, repeating that it is not the business model but the execution that counts. However, Morgan Stanley has been under pressure the most. It is as if because people believe it will fall, they are making it fall by shorting their stock, pushing down their stock prices (and thus the SEC ban on the short selling of selected stocks for two weeks). They are currently in talks with the Chinese government for a large capital infusion (they are going to need a BIG one) and with Wachovia to merge. I think a merger between these two would more aptly epitomize, “Target acquiring Neiman Marcus,” as Leveraged Sellout had used for the BofA and ML merger.

On the other hand, I am a sucker for brand image and I cannot begin to fathom the possibility of GS giving into market pressure and merging with a commercial bank. It’s not as if they are doing very badly. They’ve consistently reported profits throughout the economic turmoil so far- even if it IS less so then years before. At least it’s not a loss! I’m sure that there may be write downs cleverly hidden in their balance sheet (for both banks!), but it cannot be nearly as bad as Lehman and ML right? Yes, I do realize I am beginning to sound a bit naive, but it would be like Hermes giving into market pressure and start mass producing Birkin bags with machines! Besides, shouldn’t it be innocent until proven guilty?

Towards the end of the week, the SEC finally stepped in to temporarily ban the short selling of selected stocks for two weeks (to stop the prices from tumbling down) and the government came up with a plan to deal with this whole toxic debt problem. I’m not sure exactly how this plan is supposed to work but it sounds like they’re going to use $700 billion to buy back all the toxic debts and give financial institutions a fresh start. Sounds like a good idea, they can't bail companies out one at a time as they fall after all, better to target the root of the problem. Not that I know where the government is getting that kind of money from (aren’t they already in debt from the war?) and what they’re going to DO with those bad debt once they buy it. Surely they cannot just dissolve it and let everyone who did not meet their mortgage payments off the hook? Why were people lending money to people who clearly cannot repay the loan to begin with?

Ok, now I’m heading into territory where I really do not have a good grasp on. So I’m going to shut up now and go back to admiring the runways of Milan fashion week. Just thought I’d give financial journalism/blogging a hand.

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Scratch that. It seems that Target is not acquiring Neiman Marcus anymore but Hermes is going to start mass producing Birkin bags- in their own way. MS and GS both just got approval from the Fed to switch from being an investment bank to a bank-holding firm i.e. they are now allowed to open up their own commercial banks and take in deposits. MS will probably not need the Chinese capital infusion anymore either. There are now officially no more major independent investment banks in the US. What is it with Sundays and groundbreaking news?

Top Shop A/W08 Lookbook

Top Shop's A/W08 Lookbook is out! While you may not be able to actually shop at Top Shop, you should definitely check the looks out. They're really great streetwear inspiration (albeit a bit too well-styled). The Wonderland collection is a bit too Miu Miu SS08-esque and the Punk Couture collection looks like they just piled all the plaid clothes into a group, but the Bandstand and Boudoir collections are definitely worth looking.

My favourite is the Boudoir collection -Casual, luxurious looks in a cute way.

These two looks are equally cute in a darker, edgier way.

Image Credit: www.topshop.com

London S/S 09: Luella

I'm the first to admit, London fashion week is too fashion forward most of the time for me to understand. Luella is the exception. Mostly because she is quirky in a preppy way, which I can appreciate. Her runway gives me ideas on how I can twist and tweak the preppy pieces I already own to become more quirky and "new". This season, she doesn't disappoint.
I absolutely detest orange. But somehow Luella makes it work by clashing it with hot pink and a vibrant blue on the runway. The outfits actually look cute and girly, instead of pumpkin-esque! Hmm...maybe I'll get something orange next season. I already have a pair of black plastic rimmed glasses!

The other innovation on the runway was the asymmetrical tiered skirt. I'm not quite sure how I feel about that yet, I've always been a fan of symmetry. But it is definitely quirky and different, it could even be cute and fun (there is an even more asymmetrical skirt than the one shown here on the runway- this is the less adventurous version). And of course, there was the usual Luella floral prints all over the runway- I love how she somehow makes it appear edgy instead of old fashioned.
Another thing I love about the Luella show is how she mix and matches prints. That soft pink floral top totally works with the bold pink stripe pants! And that lavender floral dress is just adorable. In fact, the poofy skirt and the tulles even gives it a prom-like quality (not that you would not look completely darling and perfect wearing this to a more sophisticated occasion!). Anyone need an updated prom dress?

Image Source: Style.com

New York S/S09: Project Runway

Is it just me, or did Project Runway pick up a bit this season? It was kind of interesting to see what kind of crazy, wild creations this set of designers put onto the runway (consistent perfection is so *yawn*). But anyway, this post is not a review of the designs on the runway (well maybe a tiny bit), but more of a rant on the way the show is ran.

One of the main goals of this show (besides the Saturn, the money and the publicity) is getting to show at Bryant Park. How many times have we heard the designers on the show say that they WILL make it to Bryant Park? Only the top three is supposed to make it there. But because the show started late this season (for whatever reasons), SIX designers made it to Bryant Park as a decoy so the viewers won't know who made it to the final three in the show. Personally I feel like this kind of undermines the show. What is the point of elimination and survival of the fittest when 6 instead of 3 designers get to share one of the most coveted prizes? What is the point of a "limited edition" bag if everyone on the streets own one too?
Back to the show, I think it's obvious who is in the top two. Korto and Leanne have been consistently good. And they have good taste (which is a big plus, given the "taste" level of the show thus far). Personally I am vouching for Leanne. Her designs are always very simple but interesting and flattering.
My second favourite is actually Kenley. I just love the whole pin-up girl look she has going. But I must say, she's made quite a few wrong turns and it is unsure whether she'd make it to top three.
But then again, I certainly hope none of these looks make it to top three..........

Image Source: Kansas City Star

London S/S09: Top Shop Unique

I have to admit that I've never been hip enough to like or understand Top Shop Unique's collections. But this is the first time I've seen stuff on its runway that I've wanted.

I'm a fan of mini-dresses in general. These both look colourful and young -the one on the left great for a night out and the one on the right good for a fun daytime look.


I really like these two looks too. The dress on the left is classy yet still cute. And the look on the right is a bit too 80's for me, but still looks cool.


Image Credit: www.vogue.co.uk

New York S/S09: Marchesa

Marchesa has always produced pretty dresses on the runway, but this collection blew me away. It is every girl's dream wardrobe! There were sweet and cute cocktail dresses that are youthful and glamorous. I love how even though the shapes are so simple, the designs are so unique- in a good way. The silhouette is familiar, but I've definitely not seen these dresses before! There were elegant evening gowns, complimented by heavy oriental embroideries. I've never liked the whole fringe thing, because I think it looks creepy- like Cousin "It." But this black dress is definitely an exception to the rule. It looks more like a black waterfall flowing down her legs.
Then there were exquisitely beautiful pieces that just makes you want to stop and stare. And admire. They are more like pieces of art than ready-to-wear, further perpetuated by their method of presentation- with the models standing atop white cubes like sculptures (must be tiring for the models!). Indeed, I believe that most of these pieces are one of a kind. I wonder what they'd sell in their store then...
This dress is my absolute favourite. I love the barely there lilac shade. I love the orchids strewn artistically down the dress (it is apparently made of feathers!). I love the artistic folds of the top, contrasted with the frothing lilac waterfall that is the bottom. Everything. I can just stare at it all day!
And this comes in a close second. The sharp contrasting black and white color with the soft layers of the skirt creates the perfect balance that is absolutely striking!

The SS09 collection was definitely a feast for the eye!

Image Source: Style.com