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Jordan’s Furniture screwed by Red Sox win
—Posted by David Gianatasio |
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October 29, 2007 | Permalink |
Comments
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They took out an insurance policy before they made this promise. I don't know what the terms were on the policy. I've never even heard of anything like that, but supposedly they shouldn't have to pay much or any of it back.
Posted by: Chris Wilson | Oct 29, 2007 1:33:53 PM
good blog
Posted by: Mike | Oct 29, 2007 1:50:23 PM
Ever play a golf tournament where they give away a car for a hole-in-one? Same deal. Insurance.
Posted by: L3 | Oct 29, 2007 3:12:25 PM
Insurance, as has been reported in many forums, and on TV as late as last night, old news.
Posted by: Blair | Oct 29, 2007 4:07:26 PM
To me, the whole insurance policy business makes the great PR totally worthless. After all, aren't they giving so much less away in reality?
I wrote a quick post on this topic as well at http://jvincent.wordpress.com/2007/10/29/jordans-announce-they-are-cheap/ and I think this will screw not only the marketing people, as David wrote here, but also the people who "won" the contest, since they will be getting checks from an uncaring insurance company and not their semi-local furniture salesmen.
The checks could be delayed for months and Jordans would still be enjoying all this free publicity without paying much for it.
Posted by: Jeff Vincent | Oct 29, 2007 11:43:48 PM
This place had a burger chain in their store that raped my colon.
They wrote & aired some of the punniest crap I watched when I lived in Boston.
The pony tail on that guy alone deserves whatever he gets.
Posted by: I I I | Oct 29, 2007 11:58:04 PM
No, the insurance was great for their marketing. Red Sox fans don't want to think that their furniture store is rooting against the team, that would be terrible for them to associate with the brand.
Letting people know that they have an insurance policy on it let their customers know that it would be a win-win for everyone. Jordan's has lots of great PR, they didn't have to pay very much relatively speaking.
Also, think if they didn't have that insurance on it, how would the investors react and how would that look PR-wise? Jordan's is a subsidiary of Berkshire Hathaway, a public company. I don't think the stock would have been effected but if I was an investor, I would be pissed.
Posted by: James Gerber | Oct 30, 2007 11:22:00 AM
You may not know it, but most of the big giveaways are backed by an isurance policy all that big money that radio stations give away are done just the same way. I don't hear anyone complaining about that.
Posted by: | Nov 5, 2007 2:07:10 PM
I am not sure about the specifics but las vegas odds makers had the sox at about 4 to 1 to win the series last year. that would mean the 14M policy cost around 5Million. Not chump change. I am in the furniture biz and can tell you that Jordans is possibly the best furn store in the country.
Posted by: popeye | Apr 17, 2008 1:44:22 PM
