In an article in today's Financial Times (on the front page, no less), we read that sales of those Yellow Ribbon magnets emblazoned with the slogan "Support Our Troops", used to proudly show your support for the war in Iraq when affixed to the back of your gas-guzzling SUV, have plummeted:
Magnet America, the largest manufacturer of the product, has seen sales fall from a peak of 1.2m in August 2004 to about 4,000 a month and now has an unsold stockpile of about 1m magnets.
Plummet with me below the fold for a bit more...
At it's peak, Magnet America of north Carolina employed 180 people to handle demand, but as yellow ribbon demand dropped, 169 of those people got their pink slips. Only 11 now work for the company.
Much of the fading magnetic attraction can, of course be attributed to the equally plummeting support for the war in Iraq, but sales have been hurt by other factors as well. Magnet America, which boasts that it is the "Creator of the Original" Support Our Troops Yellow Ribbon Magnet, and which still uses the yellow ribbon as its web browser address line icon, says that it has also been hurt by a flood of cheap knock-offs from China. After all, why pay $2.99 to show your support for the troops when down the street you can get a Chinese import for $1.99.
True, by buying from Magnet America, you at least know that your money was also helping to support good causes:
The company donated half of the profits to charities last year, including military causes such as USO
groups and FreedomCause.org, an outlet for families to video conference with loved ones in Iraq. It also
donated "hundreds of thousands" of magnets to local groups to use as fund-raisers.
On the other hand, when you buy from China, not only can you save a buck, but you also get to show your support for, say, internet censorship and genocide in Darfur. But hey, a buck is a buck!
For antiwar magnets, however, the market remains solid. The Financial Times reports that while Yellow Ribbon 'Support Our Troops' magnets can be picked up for a penny on EBay, "a black and white ribbon bearing the slogan "Out of Iraq, Bring ’Em Back" was priced at $5."
Or you could opt for a blue ribbon "Bring Home Our Troops" magnet from TroopsRibbon.com, and know that part of the profits will help support Veterans for Peace, Iraq Veterans Against the War and Bring Them Home Now.
Not all is lost for Magnet America, however. The company is on the upswing again as it diversifies into other product lines, according to the Financial Times article:
The yellow ribbon has been overtaken as the company’s best-selling product by a wristband promoting chastity before marriage with the slogan "True Love Waits".
"We are growing again and looking to hire additional staff," Mr Pattisall said.
BONUS! Check out the end of this Daytona Beach News-Journal article for some handy tips on how to prevent those magnets from ruining the finish on your car. Wouldn't want you to sacrifice even your paint job to show your support!