Doing a Ratner is a British business phrase referring to a chief executive or a senior person of a company who criticises the company's products or disparages the customers, frequently with disastrous results for both the person and the company. Generally, the only "gain" is massive amounts of bad publicity in the media. The phrase refers to a speech by Gerald Ratner which almost ruined his company.
The Speech
Although widely regarded as "tacky", the Ratner shops and their wares were nevertheless extremely popular with the public, until Gerald Ratner made a speech at the Institute of Directors in April 1991. During the speech, he said:
He compounded this by going on to remark that some of the earrings were "cheaper than an M&S prawn sandwich but probably wouldn't last as long"
The speech was instantly seized upon by the media, an estimated £500 million (US$881 million in 1991) was wiped from the value of the company, he was removed from his position 18 months later, and in 1994 the Ratner name was expunged from the company, renamed Signet Group.
Even today, Ratner's gaffe is still famous in the British Retail industry as an example on the value of branding and image over quality. Such gaffes are now sometimes called Doing a Ratner, and Ratner himself has acquired the soubriquet "The Sultan of Bling". Ratner has said in his defence that it was a private function which he did not expect to be reported, and his remarks were not made seriously.
Other executives who have "done a Ratner"
* In July 2001, David Shepherd, then brand director of the clothing chain Topman said in a trade journal "Menswear", that his customers were hooligans and "Very few of our customers have to wear suits to work. They'll be for his first interview or first court case."
* In March 2002, Woolworths' Gerald Corbett said, regarding Woolworths' progress at his stores, that "Some city centre stores are vast open deserts with nobody there."
* In March 2003, EMI's chief executive, Alain Levy said the company had cut the artist roster in Finland from 49 artists, as he did not think there were that many people in the country "who could sing". The joke went down like a lead balloon over in Helsinki, with the managing director of EMI's local subsidiary pointing out that the Finnish firm commanded a 20% share of the local market thanks to Finns who can sing
* In October 2003, Matt Barrett, the chief executive of Barclays (owner of Barclaycard, one of Britain's most popular credit cards) said on a parliamentary Treasury committee on credit cards, "I do not borrow on credit cards. I have four young children. I give them advice not to pile up debts on their credit cards.".
* Anders Dahlvig, the chief executive of furniture store IKEA, said his stores were "appalling" on weekends.
* Freddy Shepherd and Douglas Hall, bosses of football club Newcastle United, said Geordie women were "dogs" and mocked fans for purchasing £50 replica football shirts that cost the club £5.
* In the United States, a Forest City Enterprises executive, developer Bruce Ratner, characterized his own Atlantic Center mall as "not something that we’re terribly proud of". Additionally, in May, 2004, he memorably insulted customers who live near the same mall to a NY Times reporter: "here you're in an urban area, you're next to projects, you've got tough kids,'.
* On 3 June 2007 in an interview in the Financial Times, Nicholas Ferguson, chairman of private equity firm SVG Capital, said that capital gains tax rules mean that many private equity executives "pay less tax than a cleaning lady". Media and political uproar ensued, and the asset class is now the subject of an ongoing investigation by a Treasury Select Committee into tax rules that see wealthy private equity executives pay 10% tax on carried interest, as opposed to the 40% income tax rate.
*On 13 September 2007, chief executive of the low-cost carrier Ryanair, Michael O'Leary, when asked what attracted him to the air transport industry, replied "Nothing. It's a stupid business, which generally loses a lot of money." In the same interview he said that it was likely he would stay as CEO of three or four years, rather than the one to two previously indicated.
The Speech
Although widely regarded as "tacky", the Ratner shops and their wares were nevertheless extremely popular with the public, until Gerald Ratner made a speech at the Institute of Directors in April 1991. During the speech, he said:
He compounded this by going on to remark that some of the earrings were "cheaper than an M&S prawn sandwich but probably wouldn't last as long"
The speech was instantly seized upon by the media, an estimated £500 million (US$881 million in 1991) was wiped from the value of the company, he was removed from his position 18 months later, and in 1994 the Ratner name was expunged from the company, renamed Signet Group.
Even today, Ratner's gaffe is still famous in the British Retail industry as an example on the value of branding and image over quality. Such gaffes are now sometimes called Doing a Ratner, and Ratner himself has acquired the soubriquet "The Sultan of Bling". Ratner has said in his defence that it was a private function which he did not expect to be reported, and his remarks were not made seriously.
Other executives who have "done a Ratner"
* In July 2001, David Shepherd, then brand director of the clothing chain Topman said in a trade journal "Menswear", that his customers were hooligans and "Very few of our customers have to wear suits to work. They'll be for his first interview or first court case."
* In March 2002, Woolworths' Gerald Corbett said, regarding Woolworths' progress at his stores, that "Some city centre stores are vast open deserts with nobody there."
* In March 2003, EMI's chief executive, Alain Levy said the company had cut the artist roster in Finland from 49 artists, as he did not think there were that many people in the country "who could sing". The joke went down like a lead balloon over in Helsinki, with the managing director of EMI's local subsidiary pointing out that the Finnish firm commanded a 20% share of the local market thanks to Finns who can sing
* In October 2003, Matt Barrett, the chief executive of Barclays (owner of Barclaycard, one of Britain's most popular credit cards) said on a parliamentary Treasury committee on credit cards, "I do not borrow on credit cards. I have four young children. I give them advice not to pile up debts on their credit cards.".
* Anders Dahlvig, the chief executive of furniture store IKEA, said his stores were "appalling" on weekends.
* Freddy Shepherd and Douglas Hall, bosses of football club Newcastle United, said Geordie women were "dogs" and mocked fans for purchasing £50 replica football shirts that cost the club £5.
* In the United States, a Forest City Enterprises executive, developer Bruce Ratner, characterized his own Atlantic Center mall as "not something that we’re terribly proud of". Additionally, in May, 2004, he memorably insulted customers who live near the same mall to a NY Times reporter: "here you're in an urban area, you're next to projects, you've got tough kids,'.
* On 3 June 2007 in an interview in the Financial Times, Nicholas Ferguson, chairman of private equity firm SVG Capital, said that capital gains tax rules mean that many private equity executives "pay less tax than a cleaning lady". Media and political uproar ensued, and the asset class is now the subject of an ongoing investigation by a Treasury Select Committee into tax rules that see wealthy private equity executives pay 10% tax on carried interest, as opposed to the 40% income tax rate.
*On 13 September 2007, chief executive of the low-cost carrier Ryanair, Michael O'Leary, when asked what attracted him to the air transport industry, replied "Nothing. It's a stupid business, which generally loses a lot of money." In the same interview he said that it was likely he would stay as CEO of three or four years, rather than the one to two previously indicated.
Newropeans is a political party aiming to run for campaigns in the 2009 European Parliament election in all European Union member states simultaneously. It therefore claims to be the first truly pan-European political party. As opposed to other European parties such as the European People's Party or the Party of European Socialists, the Newropeans are not an alliance of pre-existing national political parties.
History
The party was founded by Franck Biancheri in June 2005 when the referendum on the Constitution referendum failed. Biancheri had previously founded the (AEGEE) in 1985 and a thinktank called Leap2020 in 1998.
Policies
Newropeans calls for increased democratisation of the EU. They want an elected Union government, the ratification of changes to EU treaties by referendum and a unified immigration policy.
Its programme is also in favour of decentralisation and restructuring of the institutions which are mainly concentrated in Brussels, but also spread among Strasbourg and Luxembourg.
The party wants to ground the European Union Budget on a direct tax instead of contributions by the treasuries of member states, and opposes the lifelong judicial immunity granted to EU officials.
According to the official website, the party focuses mainly on reform of the EU system, and has currently little agenda beyond that.
Pre-election activities
Like all newly established political parties, Newropeans works to gain attention, money and members. As stated in their manifesto, Newropeans has to establish itself in all EU members before the election in 2009. A "" has been launched in 2007, holding meetings in cities of all the 27 countries.
History
The party was founded by Franck Biancheri in June 2005 when the referendum on the Constitution referendum failed. Biancheri had previously founded the (AEGEE) in 1985 and a thinktank called Leap2020 in 1998.
Policies
Newropeans calls for increased democratisation of the EU. They want an elected Union government, the ratification of changes to EU treaties by referendum and a unified immigration policy.
Its programme is also in favour of decentralisation and restructuring of the institutions which are mainly concentrated in Brussels, but also spread among Strasbourg and Luxembourg.
The party wants to ground the European Union Budget on a direct tax instead of contributions by the treasuries of member states, and opposes the lifelong judicial immunity granted to EU officials.
According to the official website, the party focuses mainly on reform of the EU system, and has currently little agenda beyond that.
Pre-election activities
Like all newly established political parties, Newropeans works to gain attention, money and members. As stated in their manifesto, Newropeans has to establish itself in all EU members before the election in 2009. A "" has been launched in 2007, holding meetings in cities of all the 27 countries.
The St Peters Symphonic Winds, one of the three major musical groups (the others being St Peters Orchestra and St Peters Chorale) of St Peters Lutheran College, Australia was established in its current form and in name by Grant Mason in 2005 and was previously known as the St Peters Wind Symphony. It is composed of students between 13 and 18 years of age. The concert band has performed with some of Australia's leading musicians, such as Sean O'Boyle (AUS), and Dave Brubeck (AUS) as well as overseas conductors.
The Symphonic Winds has established a reputation for its commitment to some styles of music; it focusses primarily on arranged late Romantic works, 20th Century show and film music, and, in terms of original arrangements, on Australia's own composers, from whom scores are sometimes commissioned.
Like most Australian school ensembles, the band functions outside the curriculum, rehearsing one morning and one afternoon each week, for a weekly total of three and a half hours. The band's repertoire includes contemporary Australian music by Brian Hogg and Sean O'Boyle, as well as other works by Samuel R.Hazo, John Higgins, Robert Sheldon, Ralph Hultgren and Claude T Smith, though these are often arranged works.
Tours and awards
St Peters Symphonic Winds, like the other major ensembles of the St Peters music program, undertakes performance tours during school holidays. The band has toured through most Australian states and toured overseas in USA and Canada in 2005.
The St Peters Symphonic Winds band has won the Queensland Youth Music Award for three years in a row.
Composition
The St Peters Symphonic Winds band is comprised of the standard concert band instrument listing, including typical brass (Wagnerian), woodwind, and percussion sections.
See Also
St Peters Lutheran College
The Symphonic Winds has established a reputation for its commitment to some styles of music; it focusses primarily on arranged late Romantic works, 20th Century show and film music, and, in terms of original arrangements, on Australia's own composers, from whom scores are sometimes commissioned.
Like most Australian school ensembles, the band functions outside the curriculum, rehearsing one morning and one afternoon each week, for a weekly total of three and a half hours. The band's repertoire includes contemporary Australian music by Brian Hogg and Sean O'Boyle, as well as other works by Samuel R.Hazo, John Higgins, Robert Sheldon, Ralph Hultgren and Claude T Smith, though these are often arranged works.
Tours and awards
St Peters Symphonic Winds, like the other major ensembles of the St Peters music program, undertakes performance tours during school holidays. The band has toured through most Australian states and toured overseas in USA and Canada in 2005.
The St Peters Symphonic Winds band has won the Queensland Youth Music Award for three years in a row.
Composition
The St Peters Symphonic Winds band is comprised of the standard concert band instrument listing, including typical brass (Wagnerian), woodwind, and percussion sections.
See Also
St Peters Lutheran College
SLATES is an acronym that stands for "Search, Links, Authorship, Tags, Extensions, Signals".
Dion Hinchcliffe defines SLATES as follows in http://blogs.zdnet.com/Hinchcliffe/?p=71
"SLATES describes the combined use of effective enterprise search and discovery, using links to connect information together into a meaningful information ecosystem using the model of the Web, providing low-barrier social tools for public authorship of enterprise content, tags to let users created emergent organizational structure, extensions to spontaneously provide intelligent content suggestions similar to recommendation system, and signals to let users know when enterprise information they care about has been published or updated, such as when a corporate RSS feed of interest changes."
Dion Hinchcliffe defines SLATES as follows in http://blogs.zdnet.com/Hinchcliffe/?p=71
"SLATES describes the combined use of effective enterprise search and discovery, using links to connect information together into a meaningful information ecosystem using the model of the Web, providing low-barrier social tools for public authorship of enterprise content, tags to let users created emergent organizational structure, extensions to spontaneously provide intelligent content suggestions similar to recommendation system, and signals to let users know when enterprise information they care about has been published or updated, such as when a corporate RSS feed of interest changes."