Bob Guccione, Jr. on Navigating the Recession
Question: Why launch a luxury lifestyle magazine in a downturn?
Guccione: You know, that’s a great question. Of course, it wasn’t the intention to launch Prestige in a recession. The intention to launch it this year before the recession was predicted or came about to the extent that this came about. Having said that, I still don’t think it’s a bad idea. I think the very rich will always be at least rich, and the lifestyles of these people, which is very cosmopolitan, very international, very curious, very active, very alpha in some ways, that doesn’t change, only the numbers change. So this magazine is about that lifestyle, [carry] the advertising for products and services and lifestyles that the rich can still afford. Yes, for sure, everybody is being a bit more sober about excessive spending, including us at the magazine. But, you know, in general, the lifestyle is still valid and is still of interest to this demographic, so [IB], maybe one of the few good launches in a time like this.
Bob Guccione, Jr. says despite the recession, the very rich are still rich.
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Even some teachers suffer from anxiety about math.
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She met mere mortals with and without the Vatican's approval.
- For centuries, the Virgin Mary has appeared to the faithful, requesting devotion and promising comfort.
- These maps show the geography of Marian apparitions – the handful approved by the Vatican, and many others.
- Historically, Europe is where most apparitions have been reported, but the U.S. is pretty fertile ground too.
The legacy of Felix Dzerzhinsky, who led Soviet secret police in the "Red Terror," still confounds Russia.
- Felix Dzerzhinsky led the Cheka, Soviet Union's first secret police.
- The Cheka was infamous for executing thousands during the Red Terror of 1918.
- The Cheka later became the KGB, the spy organization where Russia's President Putin served for years.
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