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Daily News – July 21, 2009

July 21, 2009

The Washington Post is reporting that Crocs are on their last legs – the company that had the largest public offering in shoe history is now scrambling to move excess stock and pay down millions in debt. From the article:

The story of Crocs mirrors the country’s tale of economic expansion and contraction. At the height of the real estate market, in 2006, the company sold shares to the public, raising more than $200 million in the biggest stock offering in shoe history. It ramped up manufacturing to keep up with demand, only to then find that shoppers were snapping their wallets shut.

President Obama was panned for his baggy, ill-fitting jeans across the industry today, following an interview with NBC where he admitted to looking “frumpy”. CNN has limited coverage here. The Huffington Post has a video .


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