Two interesting business stories out of
France late last week. One you can believe and the other is best served up as
tripe. Or as French gourmands call one of their favorite stews, tripes a
la mode de Caen.
I actually believe the rapacious, voracious Bernard Arnault and his luxury giant LVMH are telling the truth in announcing they're no longer trying to acquire Hermes. Actually, it was simply no longer possible for them to do so, given the well-orchestrated fight by Hermes. Chalk up one up for the independence of longstanding family-owned-and-operated businesses. The world is safe again for Kelly and Birkin bags. It is likely the LVMH won't make another run at Hermes in some time.
The announcement that the French government has decided to halt shipment of two Mistral-class warships to Russia is another matter entirely. The French are clearly buying time here, given the profound embarrassment of being seen as selling arms to Moscow amid Putin's malignant mischief - especially during the NATO summit in Wales.
It would be difficult to imagine the French failing to deliver on this order, given the inevitably expensive breach-of-contract lawsuits and the loss of revenue and jobs on future orders that would follow. The French economy is in terrible shape and President Hollande's (pictured below) political fortunes have been sinking like so many old Soviet Oscar class submarines. Ultimately, with Russian crews already starting the turnover process aboard these ships, Paris will find it very difficult to say nyet on this one. You showed some backbone in Mali, Francoise. It's time for some more.
Photo courtesy of The Guardian.
I actually believe the rapacious, voracious Bernard Arnault and his luxury giant LVMH are telling the truth in announcing they're no longer trying to acquire Hermes. Actually, it was simply no longer possible for them to do so, given the well-orchestrated fight by Hermes. Chalk up one up for the independence of longstanding family-owned-and-operated businesses. The world is safe again for Kelly and Birkin bags. It is likely the LVMH won't make another run at Hermes in some time.
The announcement that the French government has decided to halt shipment of two Mistral-class warships to Russia is another matter entirely. The French are clearly buying time here, given the profound embarrassment of being seen as selling arms to Moscow amid Putin's malignant mischief - especially during the NATO summit in Wales.
It would be difficult to imagine the French failing to deliver on this order, given the inevitably expensive breach-of-contract lawsuits and the loss of revenue and jobs on future orders that would follow. The French economy is in terrible shape and President Hollande's (pictured below) political fortunes have been sinking like so many old Soviet Oscar class submarines. Ultimately, with Russian crews already starting the turnover process aboard these ships, Paris will find it very difficult to say nyet on this one. You showed some backbone in Mali, Francoise. It's time for some more.
Photo courtesy of The Guardian.