Adidas might just literally burn $500 million Yeezy stock

Mar 9 2023

Adidas is seriously considering the possibility of burning – literally setting fire to – its $500 million stock of Yeezy sneakers.

The footwear giant, which dropped its partnership with rapper Kanye West following anti-semitic remarks, could face a significant loss if it cannot sell the stock of once highly sought after sneakers.

CEO Bjorn Gulden reported to The Washington Post that the company might not be able to sell its Yeezy inventory this month. The entire Yeezy sneaker collection is estimated to be around $300 million to $500 million.

Whether or not the footwear company rebrands the shoe, it will still be massively impacted by the current inability to sell them. Publishing its financial guidance for 2023, the company revealed that not selling the shoes might lower revenues by around $1.2 billion and operating profit by around $500 million.

“Against this background, Adidas expects currency-neutral sales to decline at a high-single-digit rate in 2023. The company’s underlying operating profit is projected to be around the break-even level.”

The Washington Post went on to report that one of the options of getting rid of the remaining Yeezys was to literally burn them. However, the CEO still remained hopeful that the company could successfully rebrand them whilst becoming profitable once more.

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Women’s Day March in Valletta calls out inaction by Malta’s court

Mar 9 2023

During yesterday’s demonstration in Valletta on International Women’s Day, various protestors lay down on the steps of Malta’s court building holding placards resembling tombstones to protest the lack of action against violence by authorities.

Behind them sat three masked figures, representing Justice Minister Jonathan Attard, Police Commissioner Angelo Gafa and Home Affairs Minister Byron Camilleri.

The placards read ‘Delays in court killed me’, ‘pointless police station reports’, and ‘orders uselessly released’.

The rest of the protest saw people carrying placards and banners commemorating victims of femicide, domestic violence and failed systemic assistance. Bernice Cassar, Rita Ellul, Sion Grech and Paulina Dembska were prominently commemorated during the protest as the most recent victims of male on female and/or gender based violence.

The demonstration was backed by various NGOs and activist groups, including Moviment Graffiti, MGRM, Doctors for Choice Malta, Young Progressive Beings, Men Against Violence, Dance Beyond Borders and many more.

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Metsola commemorates 20 years from Malta’s EU referendum

Mar 8 2023

Roberta Metsola took to social media to commemorate 20 years since Malta and Gozo applied to join the European Union, with the referendum on EU membership having been held on March 8th 2003.

Metsola, the first Maltese woman to ever hold the position of European Parliament President and, by extension, the highest political position a Maltese has ever held, commemorated the decision and how it changed the island’s future.

‘EU membership meant hope, enthusiasm, ambition, a united future. It meant opportunities, where the size of ideas, the strength of character and the depth of integrity overcome the limitations of geography’ wrote the EP President.

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A post shared by Roberta Metsola (@roberta.metsola)

This of course the Maltese freedom of movement through member states as well as to reside freely within the bloc.

On 1 May 2004 Malta officially became a Member State of the European Union, along with Cyprus and eight other Central and Eastern European countries. This so-called ‘Big Bang’ enlargement of the Union was a significant milestone in the history of the continent.

Malta joined the EU when Nationalist Party Leader Eddie Fenech Adami was president. Today, Malta of course has its own MEPs participating in a larger world of politics, seeing Malta contribute to bigger projects and aims which impact not just the tiny Mediterranean island, but the entire world.

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Malta-based company amongst the first to introduce menstrual leave for women

Mar 8 2023

WFDM, a group of companies based in Malta, has announced that it will be one of the first companies in Malta to introduce menstrual leave to all of its female employees.

In honour of International Women’s Day, the company went public with its decision, with an aim to support the overall well-being of female employees whilst acknowledging the challenges that come with menstruation.

“The new policy will provide paid leave for up to twelve days per year for female employees who experience painful and difficult periods that significantly impact their ability to perform their job duties. This leave will not count against their sick or vacation time, allowing female employees to take the time they need to manage their menstrual health without compromising their work obligations”, a WFDM statement said.

WFDM CEO Matthew Mantvydas Narusevicius explained how the companies recognises menstruation as a normal and natural part of life, and a challenging and painful experience for some.

Back in February, Spain become the first European country to adopt menstrual leave across the country, making it the first European country to advance in such a legislation, following countries like Indonesia, Japan and South Korea.

That same month, Labour MP Rosianne Cutajar called for national discussion on menstrual leave in Malta, highlighting the global scarcity on such a legislation, leading to many women facing difficulties in the workplace and beyond.

Following WFDM’s decision, the MP took to social media to congratulate the company whilst stating that she will continue striving to put menstrual leave on the national agenda.

Should more workplaces in Malta introduce menstrual leave?

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