“Why should a fool have money in his hand… when he has no sense?” Paraphrased from Proverbs 17:16 (ESV).
My name is Abraham Hamilton, III and this is The Hamilton Minute.
Proctor and Gamble, which owns Gillette, reported a net loss of $5.24 billion, or $2.12 per share, for its second quarter, due to an $8 billion writedown of Gillette’s value.
A writedown is a reduction of the estimated or nominal value of an asset.
After it’s wokeness campaign concerning toxic masculinity which preceded its loss of $5.24 billion, Proctor and Gamble cried uncle and admitted Gillette is now worth $8 billion less than it was before.
I guess insulting men isn’t a good strategy for selling razors to… wait for it… men!
