10.18.2004

LADIES, CLOSE YOUR PURSES

Did you all get this email? Check it out:
Subject: She Stops Shopping to Conquer - October 19, 2004

If women shut their purses and didn't shop for a day, would the economy suffer? The idea gets tested on Oct. 19 by 85 Broads, a networking group founded in 1999 by Janet Hanson, who worked for Goldman Sachs-headquartered at 85 Broad St.

Business Week has learned that 85 Broads is asking its 4,000-plus members in 450 companies, colleges, and B-schools not to spend that day.

Hanson says the "buycott" will show the gap between women's purchasing power and their underrepresentation in boardrooms and executive suites.

Members plan to spread the word to friends and to women on college campuses. Women control $3.3 trillion in yearly consumer spending, 44% of national spending- a sum that isn't just symbolic. According to Business Week, the U..S. economy has become increasingly female-driven...

Did you know that women in the U.S.:
1) Control $3.3 TRILLION in annual consumer spending?
2) Make 62% of all car purchases?
3) Take more than 50% of all business trips?
4) Control over 50% of the personal wealth in this country?

UNFORTUNATELY, WOMEN'S PURCHASING POWER STILL HASN'T TRANSLATED INTO ECONOMIC POWER.

According to Catalyst, only 6 CEO's in the Fortune 500 are women, 12.4% are board directors, and 5.2% are among the top earners in the country.

On TUESDAY, OCTOBER 19th, we invite you to leave your checkbook and credit cards at home as a symbolic gesture that we no longer "buy" the glacial pace of change for working women in America. Instead of shopping, go for a walk in the park, write a letter to a friend, enjoy a museum, or help someone in need.
Deep.

--Elizabeth
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