Bizarre Business News of the Week
Weird things happen all the time, and some of the odd things that go on in the business world are just as bizarre as anything you find in the pages of your daily newspaper’s entertainment pages or police blotter.
Some of these oddball things that go on in the business world can serve as lessons of what not to do, or how to capitalize on different situations. So we thought it would be worth sharing some of those weird things.
• How can you capitalize on something as bizarre as the saga of now-convicted felon and former Illinois Gov. Rod Blagojevich? Spirit Airlines has found a way to attract customers and get some free publicity.
After “Blago” was sentenced to 14 years in prison, the airline offered a “seat-selling” sale of $14 one-way tickets from Chicago, according to the Huffington Post.
• The entertainment industry can be a cut-throat business, but the Discovery Channel TV series “Mythbusters” took the pirate-theme a bit too far this week. The show was doing a stunt with a cannon ball when it misfired and went through a nearby housing development.
The wayward cannon ball went through two houses and a van before stopping, according to MSNBC.com. Luckily nobody was hurt in the incident, but that’s not the type of publicity the network wanted.
• Some say investing in the stock market these days is no different than going to Las Vegas and gambling with your life savings. But a column on Yahoo Inc. ‘s finance Web site this week reveals that so-called “sin stocks” are paying a much higher return than the markets overall.
Companies such as adult entertainment firm Rick’s Cabaret International is up 30 percent since early October, with beer giant Anheuser-Busch Inbev and Jack Daniels maker Brown Forman Inc. both up big as well.
But the oddest thing is that a “vice” mutual fund has been organized so you can buy the full slate of tobacco, alcohol and gambling-related stocks, such as Las Vegas Sands . But it even includes defense companies that make weapons, including Lockheed Martin Corp. and Raytheon Co.