Jack Murray from brand storytelling agency All Good Tales talks about how a speech cost Gerald Ratner millions of dollars and his company.
All Good Tales' breakthrough media moments centre around the idea that one moment can change everything. Last week we looked at the creation of YouTube, this week we look at how one speech cost jewellery giant Gerald Ratner, millions and his company.
On 23rd of April 1991, Gerald Ratner was a speaker at Institute of Directors Annual Convention taking place at the Royal Albert Hall. Gerald Ratner, owned a family built jewellery chain with over 2,000 shops between the United Kingdom and America.
Ratner was here to share his success & tips so that others could replicate his fortune. This was a man who’d accomplished millions despite leaving school without a single qualification.
But what Ratner said in his speech ended up costing him millions and loosing his family business. Ratner wiped his £650,000 salary and £500 million from the value of his company in 24 minutes.
Listen to the full piece by clicking below.
Have a look at the full column by visiting - http://allgoodtales.com/breakthrough-media-moments-that-changed-the-world-gerald-ratner/