Coach CEO Says Proposed Stimulus Package Necessary So Consumers Will Buy His Purses

Whether the U.S. is technically in a recession or not, Coach’s CEO Lew Frankfort says consumers are already pretending that it’s here. That’s why he’s in favor of the President’s proposed stimulus package—it will “restore confidence in consumers that they will have some additional discretionary money that they would otherwise not expect.” That’s right: we need a nation-wide tax credit this year so that we can buy more Coach purses.

Frankfort also called consumers “rattled” and “scary,” although that second word sounds more like a commentary on how he’s doing, not us.

“Coach CEO says U.S. in “consumer recession”” [Reuters]
(Photo: qnr)