#1
https://www.washingtontimes.com/news/201...as-shavin/

 8 billion dollar writedown!! finally the infamous toxic masculinity ad is backfiring[font=Helvetica, Arial, sans-serif]?[/font][font=Helvetica, Arial, sans-serif]?[/font][font=Helvetica, Arial, sans-serif]?[/font]
Tongue Happy2

Burtonburger, ketchuegrast, LOOT and 2 others like this post
#2

Living on the edge
(This post was last modified: 08-05-2019, 02:51 PM by Tester28.)
It's just a routine accounting procedure that's going to save them a lot of income tax....doesn't
mean they lost $8 billion because of a shit ad.

stuartganis74, Burtonburger, brit and 1 others like this post
#3
Just the latest company to get woke, go broke.

ketchuegrast, Batmanacci and Sunny50 like this post
#4

Member
Seattle
(This post was last modified: 08-05-2019, 11:34 PM by CCity.)
I liked the ad. And I agree that this news is not adverse to P&G (Gillette’s parent). SOP. And the result of a massive conversion to beards.

Freddy and Matsilainen like this post
--Scott
#5
really, this is the thing you're mad about today?

glad to know we are focused on what really matters; misinterpreting a sophisticated tax maneuver because we genuinely wish ill on a corporation for making an advert that hurts our brittle world view.

CCity, Watson, JustinHEMI and 3 others like this post
#6

Member
Seattle
I've been thinking about this. Anecdotally, my two adult boys (ahem, men) used to shave frequently, if not every day, when they were living at home and I was buying their Gillette cartridges (and mine). When I switched to single blades (DE, SE, injector), about when they left the home, I introduced them. They were grateful, and continued to maintain clean faces. Over the last few years, however, they've given in to the beard culture. Even though they maintain clean portions of their faces, the blade depreciation they experience per shave is a mere fraction of what it once was.

Given the Gillette disposable cartridge market, and the prevalence of the beard culture among all age demographics, it doesn't surprise me that cartridge sales are down. Beards may or not be trendy in the long run, but if guys aren't shaving as much, or as much of their faces as they used to, cartridge sales are going to drop. The media has been reporting on this.

Regardless, I applaud Gillette for its ad. Have a great night, all y'all, and let's focus on El Paso and Dayton.

Matsilainen likes this post
--Scott
#7
I would think Dollar Shave Club and Harry's would rank as major contributors to the decline in value (think market share and profits). Keeping in mind the decline started 3 years ago, to give 100% credit to the infamous advertisement is probably an overstatement.
#8
(08-06-2019, 05:09 AM)Standard Wrote: I would think Dollar Shave Club and Harry's would rank as major contributors to the decline in value (think market share and profits). Keeping in mind the decline started 3 years ago, to give 100% credit to the infamous advertisement is probably an overstatement.

And yet, the other divisions of PG also have lower priced competitors and are turning a profit.

Len likes this post
#9

Posting Freak
The beard thing is a passing trend, sure there will always be guys with beards but at the end of the day the women dig a clean shaven man.  Further, I'm not a tax accountant and I do understand that there may be advantages to writing down the value of assets from a tax planning perspective but last time I looked, a write down of asset value has to be related to a defensible position that the market value of the business's assets have fallen by the amount of the write down otherwise its tax evasion and possibly fraud and illegal.

Matsilainen, Burtonburger and BavariaBrewer like this post
#10
There seems to be 100% agreement on the validity of the write-off (goodwill impairment).

There seems to be 100% dis-agreement on the main reason or reasons for the write-off and loss of value.


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