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Ariana want to know why women are unhappy. Here’s why.

What in the world is going on? Arianna Huffington asks.   Women have made tremendous gains over the last 40 years but, according to a new study, they’re more unhappy than ever.

Why? Things haven’t really changed.

This last July I ran a writer’s retreat for women and this question came up. The collective answer was that ‘things had changed [since the '80s], but not so much.’  ‘Individually,’ the women in attendance agreed,  ‘things have changed for women; but institutionally the barriers to happiness are still intractable.’

The women at the retreat in St. Andrews, NB, were powerhouses–the owner of a high end winery in California; the president of one of the country’s largest chambers of commerce; the head of a tech company, and an M&A specialist.  They had all broken significant barriers and individually proved that ‘things are different.’  But they each talked about the role of luck and the importance of resilience and tenacity–not the help of  an institution. They spoke of the loneliness of being anomalies.

As a group, we concluded that to achieve change, and possibly happiness in the context of work, we need to arm the next generation of women with skills to be their own advocates: financial skills, social skills, organizational skills. If institutions are still stuck in some retro vision of gender, women need to be their own change agents, for their own individual lives. Perhaps this is no different from the tactics women employed a century ago. What is different is that there are ever more of us who are  purposeful and powerful; ever more who can reach out to the next generation of girls. The power of one woman to make a difference for many girls may be what we have.

Learning From the the Mico and Macro Tugs on the Fashion Industry

Getting ready for our Fashion and Finance Retreat, I’m  paying attention to who’s saying what about fashion. So Vera Wang got my attention this week when she said:

“In my 40 years in fashion, I’ve never seen women scared to shop — at all price levels.” [Vera sells dresses at $2000 a pop, as well as a line for Kohls that offers dresses closer to $100 and under.]  “I don’t know what’s going to happen,” she said, referring to the future of prestigious labels.

The tension between the micro-economics of fashion (smart consumers rethinking their spending priorities) and the macro-economics of the industry (jobs, creativity, leadership, profits, etc.) is causing tremors in the world of fashion.  The size of the earthquake–and what it means to both consumers and investors will be one of the topics covered at the Retreat Oct. 9-11. I hope you’re as excited about it as we are.

Fashion and Financial Fitness: A Breakthrough!

I’ve made the the design of FUN financial education an obsession over the years and though my friends think I’ve gone over the top more than a few times, I’m especially excited about the Fashion and Finance III: Voice and Values coming up on Oct. 9-11 in New York. It’s designed to be a pleasurable way to get started on a journey of financial discovery and independence. Putting it together has been fun in a way that has, frankly, surprised me. I am not a fashion maven. I like black for almost everything. But the first time I saw The Devil Wears Prada I finally gained respect for the business of fashion.

The scene that made the difference was the one in which Andy Sachs (the new assistant) smirks at the hubbub surrounding the choice of a belt. The editor (Meryl Streep at her best) responds to Andy:

Oh … ok. I see, you think this has nothing to do with you. You go to your closet and you select out, oh, I don’t know, that lumpy blue sweater, for instance, because you’re trying to tell the world that you take yourself too seriously to care about what you put on your back. But what you don’t know is that that sweater is not just blue, it’s not turquoise, it’s not lapis, it’s actually cerulean. You’re also blithely unaware of the fact that in 2002, Oscar De La Renta did a collection of cerulean gowns. And then I think it was Yves St Laurent, wasn’t it, who showed cerulean military jackets? I think we need a jacket here. And then cerulean quickly showed up in the collections of eight different designers. Then it filtered down through the department stores and then trickled on down into some tragic casual corner where you, no doubt, fished it out of some clearance bin. However, that blue represents millions of dollars and countless jobs and so it’s sort of comical how you think that you’ve made a choice that exempts you from the fashion industry when, in fact, you’re wearing the sweater that was selected for you by the people in this room. From a pile of stuff.

That scene seriously made me a little less ‘holier than thou’ when it comes to fashion. So, we’re using the industry as a vehicle to teach something about investing, business, and yes, even careers and personal finance. The mother/daughter; aunt/niece; god mother/goddaughter pairs who come will leave with a new understanding of finance–and should have some fun in the process.

The Hotel Hudson Hosts Fashion and Finance III

The Hotel Hudson Hosts Fashion and Finance

We chose the hotel a while ago. The Hudson Hotel is near Central Park, it’s sleek, cool, fun, and designed for people who like design. We’ll use it as our base in between meetings with designers, buyers, journalists, investors, and fashion entrepreneurs. The program has shaped up to be a very special behind the scenes look at the business of fashion. This is in part because we have a couple of amazing women who have helped pull the program together–Tamara Nikuradse (a former Revlon exec) and Yumi Kawana (principal in her own investment firm) are both HBS grads who are well connected in business and fashion and will lead the program in NY.

And, though it took some doing (she’s in the middle of preparing for Fashion Week now), we talked Ranjana Khan into hosting a tea at her fashion studio. Ranjana was an invisible (well not really, she’s always been a light on the fashion scene) but essential part of the industry for years. She supplied Oscar de la Renta, Gaultier, Prada, Lauren, etc. etc. with the most exotic and beautiful fabrics and accessories for their couture designs. Much of her work has shown up in Vogue, Elle, and on fashion runways all over the world. And about a year ago, she decided to go visible and start her own exquisite accessories line. Ranjana is going to share the story of her entrepreneurial journey–as well as some juicy tales about her adventures along the way.

Ranjana’s studio is simply AWESOME (and I mean that in the real sense of the word). She’ll talk about how a new line comes together, what it takes to create, manufacture, market and build a brand–and how one stays fresh in the fickle world of fashion. If you’re in NYC you can get a sneak peak of Ranjana and her designs on Wednesday at Bergdorf Goodman’s. She’s making a personal appearance from 6:30 to 9:00 PM as part of Fashion’s Night Out. If you plan to come to the Fashion and Finance Weekend, introduce yourself and let her know!

Well, stay tuned, I’ll share more details over the next few weeks!. If you’re interested in joining us for the Fashion and Finance Weekend, call the office (805-965-0475) or email Jen at IMI. It will be a small group–the people and places we are visiting won’t take large numbers.

“We’ll Work Harder … and Be Better Prepared”

Working harder together.

At Senator Kennedy’s funeral, Ted Kennedy Jr. told of gifts he gained from his father. Tears fell in the Basilica and in living rooms around the country as the young man told how shortly after losing a leg to bone cancer, his father got the Flexible Flyer from their garage and invited his son to slide down their long, steep driveway.  “I was just 12, And as I struggled to walk with my artificial leg on the ice, I slipped and fell,” young Ted told the mourners.  “I started to cry, and looking at the steep hill I said, ‘I can’t do this, I will never be able to climb this hill.’ And he said to me, ‘I know you can do it. There is nothing  that you can’t do. We’re going to climb that hill together, even if it takes us all day.’ And  sure enough, he held me around my waist and we slowly made it to the top. My father taught me that we can survive the most profound loss and that what matters is what we do with that loss , our ability to transform it into a positive event is what matters. He taught me that nothing is impossible.”

Teddy Junior continued, “During the summer months he would arrive home on the Cape late Friday afternoons and want to go out and practice sailing maneuvers, in anticipation of the weekend races. We’d still be practicing long after other boaters had gone ashore for dinner. One night I asked my father, ‘Why are we always the last ones on the water?’ To which he replied, ‘Teddy, most of the other sailors out here are smarter and more talented than we are. But the reason we’ll win is that we’ll  work harder than them and be better prepared.‘  My father admired perseverance and he believed that to do a job effectively required a tremendous amount of time and effort.”

These words resonated with me as I thought of how often I hear parents express a desire for their kids to develop a strong work ethic, but how infrequently they issue a call to hard work and effort.  Even now, with the economy turned inside out and uncertainty palpable, there is a strange tentativeness about urging children to work and sacrifice, a reluctance to demand extraordinary effort. But as Teddy Kennedy illustrated with his stories, the most important thing a parent can offer a child is not a life of ease, but the values and vision to live well a life filled with challenges.

If the Children in the White House…

When I was a child, dinners were accompanied by my mother’s mantra. Chanted so often it runs through my mind even now it went something like, “Clean your plate, there are chilren starving in (name the region: China, Africa, India).” My mother was not, I’m sure, as concerned about the fate of starving children as she was the eating habits of her daughter. “Eat your broccoli, or brussel sprouts, or lima beans, they’re good for you,” she might otherwise have pressured. But wise to me, she knew guilt was a better instrument of influence.


She understood I would feel uneasy at the image of a child with nothing on her plate. And it worked, in a way. I did, often enough, ‘clean my plate’ to the point that in later years I came to understand another consequence of such diligence is a greater caloric intake than most of us need. I now work at ignoring my mother’s mantra, putting half aside to ‘clean up’ later.

So I was captivated as I wanted Barbara Walters interview the Obamas back in December. Michele Obama, relating a conversation with the White House staff said, “I’ve already told them that the children will have chores and will be making their own beds.”

Walters seemed genuinely taken aback. “Making their beds, In the White House?” she repeated back as in shock and awe. “Well they do it at home,” Mama Obama relied, “Why not in the White House?” And there it was, the first gift of the First Mama to parents everywhere.

I can hear the new mantra come January 21. Little Susie Smith blithely leaves her bedroom as she has done for some time, clothes scattered, bed undone, ready to catch the bus. When her mother asks, “Have you made the bed?” Susie rolls her eyes and answers, “Oh mom, I don’t have time.” This exchange as worked for years. Susie and Mom have their pattern n. Mom sighs, lets Susie sachet out the door and another teaching moment passes.

But today is different, Today, Susie’s mom is ready. “Well young lady, if the kids in the White House have to make their beds, I guess you can too. Hurry up now!” And Susie, shocked at this new world order, turns around and inexpertly pulls the covers up. She doesn’t understand squared corners yet. But that new refrain. “If the children in the White House have to…” is going to usher in a of of new skills and expectations for Susie and her friends.

Or at least that’s the possibility. Parents who missed the gift Michelle Obama offered up in that oh so light and lovely holiday interview, would do well to go back and view it on YouTube. She clearly signaled that one of her Chief Tasks as a First Parent would be to model a no-nonsense approach to nurturing responsibility in children. And anyone noticing the glimpses we’ve gotten of the First Girls, Malia and Sasha, has to think that Michele and Barrack walk their talk when it comes to expecting their children to be respectful, responsible, helpful.

No doubt there are and have been children’s meltdowns in ObamaWorld. Surely these are not perfect children. But families who want their children to be happy–and responsible; without anxiety and disciplined, could do worse than adopt some of the ‘brook no nonsense’ mindset the Obamas project. The guy who promises ‘adult supervision for Wall Street’ no doubt knows how to offer it up at home.

Here are a few things to add to your ‘if the children in the White House have to…’ list:
  • “If the children in the White House have to…manage an allowance, you can too.” Do I know that Sasha and Malia are managing an allowance? No. Will I be surprised to learn they are–or will be? No. But whether they do or not, this is an opportunity to reinforce values like ‘living within our means;’ stewardship; saving; and generosity. Consider creating a en economic mission statement for the family–one your kids can help shape and learn to live by. Leverage is an important business; one that kids can learn early on–but the pit-falls of being ‘over-leveraged’ is a concept kids need to understand well before they leave for college. Over the last few months, I’ve been intrigued (and worried) with how often, when asked, teens will tell me that the current economic melt-down has nothing to do with them.’ No doubt their parents are trying to protect them from anxiety. But these children may be missing one of the most important teaching moment of their young lives. Letting kids think that a decline in the family next egg, no matter how ‘relative’ has ‘nothing to do with them’ is dishonest. Allowing them to be part of family financial strategy and solutions: rebuilding assets, re-ordering financial priorities, saving, and philanthropy, is one way to teach stewardship and responsibility.
  • “If the children in the White House had to wait a whole year to get a puppy, you can wait to (fill in the blank)…” This is a chance to strengthen children’s capacity for delayed gratification–and the notion of earning something important (besides just money.) The Obama girls put up with a lot: their Dad’s non-stop travel; limits on behavior because ‘so many people are watching,’ safety issues; lectures about what is OK to say out loud and what not…Good behavior, in service of family goals is not just important to public officials. It can be a family ethic that has pay-off for children, family, and community.
  • “If the children in the White House have to do their homework….” Living in the nation’s most historic house, with access to the Library of Congress and the National Archives is arguably an educational advantage. But not much actually. Exposure is key. Exposure to ideas, places, people, and points of view. Homework is intended (one hopes) as mere busywork, but as an experience to help kids master skills and knowledge, And children who have the privilege of travel and access (to  people, places, experiences) can be encouraged to transcend tourism and entertainment for something more akin to the great odyssey the Obama girls have begun. Use every destination as a learning experience; seek out places and people who will reinforce and deepen lessons learned at school. Encourage children to see homework as a threshold to adventure, not just an odious exercise in power and control.
  • “If the children in the White House have to live with a curfew…” Every child who chafes under the constrictions of time and supervision might be asked to live a week under the hyper-cautious eye of the Secret Service. The next time the issue of curfew comes up, offer to provide a free-lancing agent as a companion for to late night entertainment!
Canny kids will of course develop a repertoire of retorts: 
  • Yeah, but THEY get invitations to Hannah Montana parties;
  • Yeah but, THEY get to hang out in the Lincoln bedroom:
  • Yeah but, THEY get to ride in a private jet ALL the time…
You can ignore these feints. Just think, “What would Mama Obama say?” And follow suit.