January 23, 2009
Letter to Shareholders
It should come as no surprise that 2008 was, by far, the toughest year our company has seen. Like most businesses we suffered as a result of the unprecedented economic downturn. When we began to see the dark clouds forming on the horizon in early first quarter we hoped we might somehow be impervious to the storm. Unfortunately the reality is that in times of economic hardship people cut back on the purchase of man-panties.
While we remain hopeful for 2009, we do have to consider that it may take some time to regain the momentum that we lost in 2008. In the first quarter we watched our sales double, only to have both pairs returned two us within the 14-day period. Shortly afterwards the investment banks began to topple and people's concerns focused on their families, jobs and money. That, plus the fact that we were in the midst of a presidential race meant that the idea of silky, feminizing man-panties was the 2008 furthest from peoples' minds than it has ever been…
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No kidding. The Fall was really spectacular, and reminded me of El Topo quite a bit. Thanks for the post.
Posted by: frank discussion at Jan 24, 2009 12:16:37 PM
Did this catch you by surprise? I remember talking to a real estate guy during a wedding, in Canada, during 2007, and he said to watch 2008 as the beginning of one of the most tumultuous times we would see, because of the credit issue.
Posted by: Jack Ruttan at Jan 24, 2009 1:18:34 PM
So, for this reason, shareholders ours, we ask for your patience and hope to expect to earn your continued commitment to our cause - better, longer, nicer, more interesting and decidedly international - uh, vacations - for our senior executive staff.
But take heart, worthy shareholders, that next year will be stellar, in our eyes and in the world's. We vow to restore that twinkle in your eyes, oh, yes, oh yes, we will....
Posted by: Mr Mogul at Jan 27, 2009 11:36:27 AM
this year has to be better than last year!
Posted by: myrtle beach rentals at Jan 29, 2009 7:38:21 PM
there are things that are beyond our control.. let's just hope that this year will be a great year for all of us!
Posted by: kim-free ads at Feb 26, 2009 9:49:02 PM