An ADA update on Victoria’s Secret

By: Chris Johnson

Personal note:

With the Christmas shopping season fast approaching, we at ADA are prayerfully seeking God’s leading regarding our response to the manner in which Victoria’s Secret displays its wares at the local public mall throughout America.

Most of you reading this will be familiar with the name General Growth Properties (GGP). General Growth Properties (227 properties) is the second largest owner of mall space in America second only to Simon Properties (387 properties) based out of Indianapolis, IL.

As you know, we have had regular skirmishes with GGP over these recent number of years. I personally have had direct communications with the Chairman of General Growth Properties, John Bucksbaum throughout the 2000s.

Over the last number of years we have regularly tracked the manner in which Victoria’s Secret has displayed lingerie in their display windows featuring erotic poses, displays of cleavage and nudity, etc..

Each year as the largest shopping season of the year approached, we have been timely and upfront with General Growth Properties letting them know we would call for a boycott of particular malls if their displays had been and/or were featuring pornography during the course of the year.

As you may recall, in December of last year (December 4), I was contacted by a CNN commentator and asked to interview on his news show. He himself publicly expressed outrage over the indecency of their displays – bothered that as he took his youngster to the mall to go see Santa Claus he was confronted with Victoria’s Secret filthy displays located near the Santa headquarters.

Here we are approaching yet another Christmas season. I have pictures in hand prepared to present my concern (though it is true that VS has somewhat softened their displays).

Editor’s note: You may also recall that “The chief executive of the Victoria’s Secret lingerie chain — known for its provocative, televised fashion shows and eye-popping stores — admitted something shocking [Feb. 28]: The brand has become ‘too sexy.’

‘We have so much gotten off our heritage,’ said Sharen Turney, chief executive of Victoria’s Secret, during an analyst call with investors.

‘We use the word ‘sexy’ a lot and have gotten off ‘ultra-feminine’,’ said Ms. Turney, explaining that she wants to bring more-sophisticated, higher-quality products back to Victoria’s Secret stores. …”
[Wall Street Journal and CNN]

You also may recall that Victoria’s Secret reported a 12% decline in net income for its fiscal fourth quarter. Sales at stores open at least a year dropped 8% at Victoria’s Secret, as the weak economy and stale product offerings kept customers from spending. …”

Keep in mind that all of this faltering with Victoria’s Secret came before the last several months when the financial firestorm has significantly elevated.

Now comes this news regarding General Growth Properties.

Quoting:

General Growth Properties Inc. says it may seek bankruptcy protection from its creditors as it struggles to refinance debt. Chicago-based General Growth (NYSE:GGP) has $958 million in debt due Dec. 1 and another $3 billion that matures in 2009.

Citing weakness in the credit and the retail markets, the company isn’t sure it will be able to refinance or extend terms on the debt.

“Our potential inability to address our 2008 and 2009 debt maturities in a satisfactory fashion raises substantial doubts as to our ability to continue as an ongoing concern,” the company says in a Securities and Exchange Commission filing. “We may be required to take further steps to acquire the funds necessary to satisfy our short-term cash needs, including seeking legal protection from our creditors.”

Last week, the company reported a quarterly loss of $15.4 million, suspended its dividend and said it would halt plans for any new construction or development.
http://www.bizjournals.com/charlotte/stories/2008/11/10/daily44.html?ana=e_du

In addition, here’s also this piece of concerning news regarding General Growth Properties:

General Growth Properties out of S&P 500

“Standard and Poor’s is dropping General Growth Properties Inc. from its benchmark S&P 500 Index.

Standard and Poor’s announced [last] Tuesday that General Growth, owner of shopping centers that include Oxmoor Center, Mall St. Matthews in Louisville and River Falls in Clarksville, would be removed from the S&P 500 after the close of trading and replaced by Cephalon Inc. (NASDAQ: CEPH) after the close of trading on Friday.

After Tuesday’s trading, when shares of General Growth (NYSE: GGP) fell 95 cents to 42 cents apiece, the company had lost 99 percent of its value this year. Standard and Poor’s said it was the least valuable company in the S&P 500 as of yesterday with a market value of approximately $128 million. …”
http://louisville.bizjournals.com/louisville/stories/2008/11/10/daily25.html?ana=yfcpc

Here, then, are pics (Taken November 3, 2008) from a General Growth Properties Mall –
Rivertown Crossings Mall

Disclaimer:
https://americandecency.org/main.php?f=updates_new/2008/November/11.17a.08

Lastly, then, I will be forwarding on my concerns to General Growth and will be furnishing them with pics as well as I normally do.

Your PRAYERFUL counsel beyond that is welcome. Should the economic repression/depression and the likelihood of a boycott hurting them further be a factor in our decision making?

You can contact me at:
bjohnson@americandecency.org

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Ultimately, my decision will be made on the basis of what I believe God would have me do but it is wise to seek the counsel of other believers.
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Is ADA a losing proposition? Perhaps to some if not many. But what about in the eyes of Christ?

I believe He sees us as “more than conquerors through Him who loves us.”

I remind you of a small year end match challenge that was extended by a friend of this ministry. It seems we are having a rather rough time meeting it. If only a 100 of you or so who look to this email regularly would get behind our efforts with a sacrifice of $25 or $50 or a $100, we could yet make this match challenge.

It’s an extension of a match challenge that we were not able to meet earlier in the year.

Quoting: “I will match all new (from anyone who has not given to ADA in 2007 or 2008) gifts received from June 1- August 31 up to a total of $15,000. Let me know if you have any questions. Thanks for all you do to uphold purity and holiness.”

This match challenge had already run for three months. Here are the results through that time frame. There were 88 gifts totaling $5,911.00.

So our anonymous donor graciously sent us a check for $6,000 and proceeded to yet challenge us again. Stating: “We will give you $6,000 now and we would like to extend the offer for an additional $10,000 for new money collected by 12/31/08. Keep up the fight…”

Those of you that follow closely know that these year end match challenges – as they are met – have been used significantly to strengthen us to start the new year on solid financial ground!!

If you benefit from our email alerts, I encourage you to show your tangible support. Your gift of any amount will be doubled. We will continue by the grace of God and the help of His people.

Bill

American Decency Association
Bill Johnson, President
P.O. Box 202
Fremont, MI 49412
ph: 231-924-4050
https://americandecency.org

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