Bloomberg News reports that Brazilian supermodel Gisele Bundchen refuses to be paid in dollars. In addition to landing undefeated (9-0) New England Patriots quarterback Tom Brady -- although that relationship could be on the rocks -- she is one savvy currency trader.
Gisele Bundchen is proving to be a shrewd analyst of the U.S. dollar's weakness. When Bundchen signed a contract in August to represent Pantene hair products for Procter & Gamble Co. (NYSE: PG), she demanded payment in euros. She'll also get euros for the deal she reached last October with Dolce & Gabbana SpA in Milan to promote the Italian designer's new fragrance.
"Contracts starting now are more attractive in euros because we don't know what will happen to the dollar," Patricia Bundchen, the model's twin sister and manager in Brazil, said in a telephone interview in September from Sao Paulo.
Those Bundchens are smart cookies! Too bad I can't say the same for Treasury Secretary Hank Paulson and his strong dollar policy.
On an mildly related note -- Boston is clearly the hub of the sports universe. With the Red Sox having won the World Series in 2004 and 2007 and the New England Patriots defeating Peyton Manning's Indianapolis Colts last night 24-20 in an amazing fourth quarter comeback, it is absolutely great to be a sports fan in Boston these days. Even the Boston Celtics are winning.
Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in P&G securities.
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Reader Comments (Page 4 of 26)
11-05-2007 @ 7:47PM
jdubs said...
umm..i think shes overpaid anyway. i mean how hard does she really work? everyone that frecking lives in the US gets paid in US dollars. if she gets euros then so can i or she can move and work in another country.
11-06-2007 @ 6:30AM
thomas gentile said...
ALL ARE SUPER MODELS GETTING MORE AND MORE UGLY/ MY WILE IS RUSSIAN AND IF THEY WERE SIDE BY SIDE YOU WOULD SAY TO TOM BRADY's FUTURE ( X ) HERE DOGGY HERE DOGGY!!!!
11-05-2007 @ 7:48PM
doc said...
ok, i'll keep this simple and use short words for the math/economically challenged majority on these boards, she has a contract to be paid x amount of dollars for looking like a cheap brazilian hooker, ok? so, she demands to be paid in euros, they calculate the amount based on the current exchange rate and write a cheque, she gains NOTHING, and you idiots think shes a rocket scientist? well, maybe for a brazilian hooker she is...
11-05-2007 @ 7:49PM
Michael Bierman said...
Tom Brady has bad taste in women, she is a bow-wow. We have good people getting killed for our great country, and for her to do this is disrespectful to their honor (this from a vet).
She can take her useless ass out of America,
I love my country and we don't need skanks
like her doing a stupid meaningless job such as being a model here anyway.
Michael of Art
11-05-2007 @ 7:49PM
Lisa said...
I promise to never buy any products that Gazelle promotes.
11-05-2007 @ 7:55PM
jpgoodrow said...
Giselle is getting old and haggard looking in the world of modeling. I would suggest she request to be paid in Botox.
Models are a dime a dozen and supermodels are becoming a thing of the past. If Giselle believes she is too good for USD, then I suggest agencies replace her with others who are not.
11-05-2007 @ 7:58PM
Pops said...
Pay her in inches. I HAVE 9 1/2 although she'll probably need more than that after all she's been through.
11-05-2007 @ 8:05PM
media wiz said...
Good for her. Apparently probably has a good lawyer and financial advisor. If more women learned some financial sense, after their ex-husbands embark on the second and third families they won't be middle-aged and living at the poverty level with nothing to retire on.
11-05-2007 @ 8:10PM
Mark said...
If she refuses to be paid in U.S. Dollars, Then don't pay the bitch.
11-05-2007 @ 8:16PM
the12thshield said...
So much jealosy, The woman should get paid in whatever currency she wants, hell she earned it.Shut the hell up and worry about making your own living. To the person who said to pay her in coconuts, I guess you would know what thats like,I bet you make PEANUTS on your job. Thats whats wrong with this country now,a bunch of over zealous ass holes who thumb their noses at people who chose a different path from the "American" norm, A bunch of mindless robots thumping their chest chanting,"ME American,YOU nothing" Get a life,Gotdamn Lab Rats.
11-05-2007 @ 8:18PM
steve said...
i agree with her. the waythe dollar is suffering in the exchange rates, it's like throwing a percentage of your money away each day.
11-05-2007 @ 8:35PM
azstategrad said...
I don't blame her. I went to England and Paris and the US dollar isn't worth crap.
Why get upset because she doesn't want US currency? You should have other matters to care about.
If anything blame Bush, you foul mouthed people.
11-05-2007 @ 8:21PM
j said...
I WONT BUY ANY PRODUCTS THIS ANTI AMERICAN PIG ENDORSES.
11-05-2007 @ 8:22PM
Common Cents said...
Ironic, isn't it, that the persons spewing hateful comments here probably self-identify as Republican, when the dollar's weakness is attributable to W's fiscal policies. We had a surplus at the end of the Clinton years, and sound fiscal policy - the dollar was stronger than all but the British pound - but W has screwed that up, too. Of course, in response, no doubt some one will say something hateful about my comments, rather than substantive - because Republicans don't seem to like debating about facts these days.
11-05-2007 @ 8:20PM
Marcia said...
I really see no problem. If she's working for a company in the USA she gets paid in American dollars. She doesn't want them, she can work elsewhere. It's not like there's a shortage of models out there.
11-05-2007 @ 8:24PM
Jeffs386 said...
Boston is still a shithole
11-05-2007 @ 8:22PM
D. L. GRAHAM said...
One smart lady! With the fiscal mis-management of the U.S. economy by the borrow-and -spend Republicans, the dollar can only be expected to continue sinking!
Posted at 6:36PM on Nov 5th 2007 by pjmducks6
I AGREE (100%), THE EURO IS THE WAY TO GO! AND MORE DAMAGE TO COME THANKS GEORGE.
11-05-2007 @ 8:24PM
Edclark1952 said...
Mabey your modeling career needs to be moved over seas so your so called "Gold digger ass" can really enjoy first hand of the Euro Economy.
We dont need you when we have a Mercury commercial gal that is so hot you couldnt put her fire out.
And besides you Gisele dont have enough ass in your britches to make a demand like this ....go some where else and get a life. We dont need you here in the USA.
11-05-2007 @ 8:26PM
luke said...
She's right!!! Even the Canadian Dollars is getting stronger aginst the U.S. Dollar since it almost 1 to 1 right now... And when the Euro opened around 2000 it was trading around 65 cent to the Euro... Now it totally oppsite... So from a capitalist standpoint she is right on... Because the dollar is on the decline no one know when it going to be as strong as before...when we had oil,no f#@$ ith war,those good replublicans wasnt breaking america ,blah blah blah and now they will leave the mess for the next ones (wake up america,before is to late ex america will lose 12000.000$ per day when they send all immigrantes back to home its logic,more bilions up to start new ethanol or however gas we can get for the big suv and trucks,another tri$ in a WAR ...keep going its time to change vote in 2008 please
11-05-2007 @ 9:11PM
Jesus Christ & His Orchestra said...
It's called Gresham's Law; bad money drives out good. The Euro is hot and the dollar is not. Get ready for the crash, Bozos, because its gonna be hard.