Rolex CEO Steps Down

[West9]

Just happened to be reading about Rolex and noticed there CEO has resigned unexpectedly. Its seems,,,well rumors are that they have lost a lot of money to Bernard Madoff who happened to run a huge fraud scheme.

[Papoo]

Well they need something to justify the relentless price-hikes!

[Stuart]

Isn't that (the price hikes, not the resignation) just a consequence of Sterling's continued fall?

[Papoo]

Not if I've understood correctly. I think that compounds matters. That said, my interest and knowledge of Rolex is fairly poor, so I stand to be corrected..

[andrewh]

1 billion euros i think

[Papoo]

andrewh said:

1 billion euros i think

For a new Submariner?

Sign of the times, I'm tellin' ye..

[dazren]

Stuart said:

Isn't that (the price hikes, not the resignation) just a consequence of Sterling's continued fall?

Spot on.

Looks like a 30% drop in the last 12 months:

http://uk.finance.yahoo.com/currency/convert?amt=1...