The Men's Dress Furnishing Association, the trade association for American tie manufacturers, is shutting down. Despite quote after quote from industry executives about the decline of the industry, one executive can see sunshine and lollipops through the gloom:
"... Lee Terrill, president of [Phillips - Van Heusen]'s neckwear group and an executive member of the trade association, is optimistic about the tie's future and believes the current economic downturn is actually good for his company's tie business. His reasoning: Laid-off workers will need new ties for job interviews.
"Sometimes the economy forces people to look at themselves and say, 'If I show up to a job interview in a T-shirt and jeans and the other guy is in a sport coat with a tie, who are they going to hire?' " Mr. Terrill says." (Wall Street Journal)
h/t to Frank Shaw