A fundamental of game theory [check out "Game Theory: A Very Short Introduction" by Ken Binmore] is a contrarian move. Of course, that can and does carry considerable risk. Recall the contrarian tactic of the lead paint defense lawyers not putting on a case in the Rhode Island public nuisance trial. That risk didn't seem to work out all that well. But the contrarian player can also cop great gains. In addition, it's fun approaching the game this way. At the very least, enormous publicity will come.
That's exactly what Graydon Carter, head honcho at VANITY FAIR, seems to be up to. Despite the dire global economic crisis, Graydon [he's one of those who goes by one name and it's his first] announced today VANITY FAIR will still have its iconic Oscar Night bash. Sure enough, that news hit the media, digital and mainstream, pronto. Incidentally, those invited should report to Sunset Tower Hotel on February 22, 2009. Those not invited will probably be earnestly protesting outside or Tweeting about the decadence of the event. All the more publicity for Graydon and his publication.
In the world of law, a contrarian and risky move would be to go high-profile on the intention to award year-end bonuses as usual or, a superior tactic might be, to double the traditional amount. The rationale, explained to THE WALL STREET JOURNAL Law Blog et al. in tedious detail, would be to recognize, retain and recruit talent. Would I try that? Not on my bottom line. My clients aren't into that kind of uber premium-branding ethos.
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