Affordable Footwear Act stumbles in Congress

Affordable Footwear Act stumbles in Congress
By Kirsti Ellis
WWD.com

The Affordable Footwear Coalition has tried to push for inclusion of the Affordable Footwear Act in the President’s economic stimulus plan. The amendment would eliminate $800 million in regressive tariffs across several footwear categories, including children’s footwear and certain types of lower priced shoes. The Senate’s version of the bill has already failed and was not included in the House bill. The bill would eliminate 43% of the $1.8 million in annual duties collected by the U.S. government. I think that this amendment is a good Idea. It will stop the higher cost of tariffs paid by the manufactures from spreading to the end consumers.
In this economy I think any amendment that will help Americans spend less money is much needed.

VF completes acquistion of Mo Industries

VF completes acquisition of Mo Industries, Owner of Splendid and Ella Moss contemporary Sportswear Brands 3/18/09





VF Corporation acquired Mo Industries, to be exact, the remaining two-thirds of their capital stock. It was acquired in a effort to grow VF's Contemporary Brands Coalition, which currently includes 7 for All Man Kind, Lucy Brands, and now John Varvatos. I think that it is a step in the right direction for VF. Now that they realize that there is a substantial amount of money to be made in contemporary markets. Especially since American apparel is becoming more relaxed and casual and the younger population is a stronger buying force in apparel than ever before. It's only right to cater to their needs. The outcome is very profitable for VF. It cost Vanity Fair $161 million to attain the rest of Mo Industries, but in the end I think it was well worth it.