NOVEMBER 2008
How you can avoid getting crunched
Turmoil in the financial markets over the last few months has led to plunging share prices and boardroom unrest. With IP budgets under intense pressure, Stephen Mulrenan examines what practical steps brand owners can take to negotiate the credit crunch
When Warren Buffet speaks, the financial world listens – an estimated net worth of $62.3 billion and the title of "richest man on earth" secures you that kind of privilege. The US investor, businessman and philanthropist was speaking to a group of investors in Germany recently, when he suddenly said something that took them all by surprise. Outlining what he considered to be the most important criteria when deciding whether or not to buy a company, Buffett said a strong balance sheet was no longer the primary consideration. A good management team was more important, he argued, but above both of these comes "brand".
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