Editor's Choice

Death of crocs

Here's a shock. The Washington Post reports that ugly-shoe-maker Crocs is about to go out of business. Wow. That seemed like a business built on a sturdy foundation, one that was built to last. Much like Krispy Kreme, it wasn't tied to a trend at all, and stock touts were surely right to recommend buying in back in 2007. Sometimes the economy is so unpredictable. Who would have thought that demand for Crocs wouldn't continue to grow forever, like the value of our houses?

The company had expanded to meet demand, but financially pressed customers cut back. Last year the company lost $185.1 million, slashed roughly 2,000 jobs and scrambled to find money to pay down millions in debt. Now it's stuck with a surplus of shoes, and its auditors have wondered if it can stay afloat. It has until the end of September to pay off its debt.

"The company's toast," said Damon Vickers, who manages an investment fund at Nine Points Capital Partners in Seattle. "They're zombie-ish. They're dead and they don't know it."

I think that it is safe to assume that Crocs might have found itself in some trouble regardless of the recession. It always amazes me that companies like this get hyped in the financial press; it seems a bit irresponsible and cynical. The unspoken subtext seems to be this: Everyone knows that eventually the trends that such companies are built on will pass, but everyone also believes that the other investors are more naive than they are and have bought into the trend unthinkingly. Everyone then wants to exploit the other's presumed ignorance, assuming some other fool will be left holding the shares when the day of reckoning comes. And the press is there to cheer this game along, pointing to how much growth the company has seen during its peak trendiness, encouraging the extrapolation of such unsustainable figures into the future. I wonder if all the analysts who recommended Crocs a few years ago (or the ones, probably the same ones, who recommended Krispy Kreme in the late 1990s) feel any embarrassment at all.

Cover down, pray through: Bob Dylan's underrated, misunderstood "gospel years" are meticulously examined in this welcome new installment of his Bootleg series.

"How long can I listen to the lies of prejudice?
How long can I stay drunk on fear out in the wilderness?"
-- Bob Dylan, "When He Returns," 1979

Bob Dylan's career has been full of unpredictable left turns that have left fans confused, enthralled, enraged – sometimes all at once. At the 1965 Newport Folk Festival – accompanied by a pickup band featuring Mike Bloomfield and Al Kooper – he performed his first electric set, upsetting his folk base. His 1970 album Self Portrait is full of jazzy crooning and head-scratching covers. In 1978, his self-directed, four-hour film Renaldo and Clara was released, combining concert footage with surreal, often tedious dramatic scenes. Dylan seemed to thrive on testing the patience of his fans.

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TV

Inane Political Discourse, or, Alan Partridge's Parody Politics

Publicity photo of Steve Coogan courtesy of Sky Consumer Comms

That the political class now finds itself relegated to accidental Alan Partridge territory along the with rest of the twits and twats that comprise English popular culture is meaningful, to say the least.

"I evolve, I don't…revolve."
-- Alan Partridge

Alan Partridge began as a gleeful media parody in the early '90s but thanks to Brexit he has evolved into a political one. In print and online, the hopelessly awkward radio DJ from Norwich, England, is used as an emblem for incompetent leadership and code word for inane political discourse.

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The show is called Crazy Ex-Girlfriend largely because it spends time dismantling the structure that finds it easier to write women off as "crazy" than to offer them help or understanding.

In the latest episode of Crazy Ex-Girlfriend, the CW networks' highly acclaimed musical drama, the shows protagonist, Rebecca Bunch (Rachel Bloom), is at an all time low. Within the course of five episodes she has been left at the altar, cruelly lashed out at her friends, abandoned a promising new relationship, walked out of her job, had her murky mental health history exposed, slept with her ex boyfriend's ill father, and been forced to retreat to her notoriously prickly mother's (Tovah Feldshuh) uncaring guardianship. It's to the show's credit that none of this feels remotely ridiculous or emotionally manipulative.

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To be a migrant worker in America is to relearn the basic skills of living. Imagine doing that in your 60s and 70s, when you thought you'd be retired.


Nomadland: Surviving America in the Twenty-First Century

Publisher: W. W. Norton
Author: Jessica Bruder
Publication date: 2017-09
Amazon

There's been much hand-wringing over the state of the American economy in recent years. After the 2008 financial crisis upended middle-class families, we now live with regular media reports of recovery and growth -- as well as rising inequality and decreased social mobility. We ponder what kind of future we're creating for our children, while generally failing to consider who has already fallen between the gaps.

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Gallagher's work often suffers unfairly beside famous husband's Raymond Carver. The Man from Kinvara should permanently remedy this.

Many years ago—it had to be 1989—my sister and I attended a poetry reading given by Tess Gallagher at California State University, Northridge's Little Playhouse. We were students, new to California and poetry. My sister had a paperback copy of Raymond Carver's Cathedral, which we'd both read with youthful admiration. We knew vaguely that he'd died, but didn't really understand the full force of his fame or talent until we unwittingly went to see his widow read.

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