American News

Barclays: Japan 4Q GDP Will Shrink 12.1%; Holiday Sales Worst Since 1970; American Greetings Buys Recycled Paper Greetings; Consumer Confidence Hits Record Low; China Eastern Gets Additional Funds; Gazprom Gets Paid

An economist for Barclays Capital (ADR:BCS) estimates Japan’s economy will shrink at an annual pace of 12.1% this quarter, nearly a three-fold negative jump from the rate previously predicted. “Given the speed and the length of the contraction, this recession could be the most severe in the postwar era,” Barclays’ chief Japan economist Kyohei Morita said, Bloomberg reported. “We expect negative growth will continue for a fifth straight quarter to the April-June period of 2009.”
U.S. holiday season shopping was the worst since at least 1970, with bottom lines plagued by low demand, heavy discounting and unfriendly weather, the International Council of Shopping Centers (ICSC) said yesterday (Tuesday). ICSC’s tally runs up to December 27, and its chief economist, Michael Niemira isn’t holding out for a miracle turnaround in the remaining days, Reuters reported.
American Greetings Corp. (AM) said it will buy privately held rival Recycled Paper Greetings in a deal that includes restructuring Recycled Paper Greetings’ debt under a Chapter 11 reorganization process. American Greetings Chief Executive Officer Zev Weiss acknowledged his company was attracted to RPG’s witty, funny and fresh content, according to a news release.
Consumer confidence hit an all-time low in December, with the Conference Board’s Consumer Confidence Index dropping to 38 for the month from a revised 44.7 in November. Rising layoffs and the deteriorating housing market were the biggest reasons for the decline.
The Chinese government more than doubled the size of a bailout for China Eastern Airlines Corp. Ltd. (ADR: CEA), just weeks after announcing a plan to pump $440 million (3 billion yuan) into the carrier, the Financial Times reported. China Eastern said it would now receive more than 900 million (7 billion yuan) through a private placement of Hong Kong and Shanghai-listed shares to its state-owned parent company.
Ukraine yesterday (Tuesday) paid in full for natural-gas imports from Russia for November and has made an advance payment for supplies in December after OAO Gazprom, Russia’s state-owned oil monopoly, threatened to cut off supplies to the country. The Ukrainian government instructed two state-run banks to provide the country’s energy company NAK Naftogaz Ukrainy with the funds, a day before a deadline, Bloomberg reported.

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Originally published here.

Charlotte Johnson was the very first designer for the famous Barbie doll, the best selling doll in history. When Ruth Handler first conceived the idea for Barbie, she hired Johnson to assist in the creation and design of the doll and the fashions. Charlotte and Ruth had a shared passion for chic clothes and quickly agreed they wanted to give the Barbie dolla high fashion wardrobe.

Johnson created and led the entire fashion line for the Barbie doll. Her exclusive designs led to the now extensive Barbie wardrobe. She was responsible for creating the sophistication of Barbie’s style which was reminiscent of the current trends of the late 1950’s. She also created a vast selection of fashionable hats and heels that were made to coordinate with Barbie’s wardrobe. These designs are now collectors items.

Charlotte Buettenback Johnson was born in Omaha, NE in 1917, the only child of Frank and Charlotte Holub Buettenback to survive to adulthood. Charlotte began her career as a freelance designer for women’s clothes as well as a teacher at the well respected Chouinard Art School in California.

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 She attended Kansas City Art Institute, then married sculptor Edgar Johnson Jr. The couple lived in New York, where he made ceramic products and she painted them. The marriage eventually ended — there were no children.

Johnson was the first to be hired as exclusive designer for the full line of Barbie dolls. She worked very closely with Ruth Handler while designing the fashion collections for Barbie. She had a keen eye and fashion sense when it came to re-interpreting European trends, in the smallest detail.

 Charlotte was also inspired by the top designs that were shown on the fashion runways of New York and Paris. She realized that by keeping up with the current fashion trends, the popularity of the doll would continue to increase.

Charlotte’s designs for Barbie were exact in all of the detailing including dress linings, buttons, zippers and buttons. She even created cloth labels for the designs that read “Barbie(r) Mattel”.

 In 1957, Charlotte traveled to Japan to oversee the new designs of Barbie’s clothing line. She worked with Japanese seamstresses who sewed the Barbie clothing items by hand. She was known for her strict attention to detail, even to Barbie’s jewelry and other accessories.

Johnson modeled many of the designs after fashionistas of her time including Doris Day and Jacqueline Kennedy. She created many high fashion designs for this widely celebrated 11 1/2″ doll.

 Mattel was the first American company to produce a doll that could wear the designs that were seen worn on the modern day woman. The Barbie doll’s fashions were a large part of its success and popularity among young girls.

 Charlotte had many other talents. She was very active within the artistic community, including being an accomplished pianist.  

Charlotte Johnson was the director of the Barbie fashion line from 1957 to 1980. She died in Santa Monica in 1997 and as she had directed, her remains were cremated, and the ashes interred at Holy Sepulchre Cemetery in Omaha, NE.

Originally published here.