FTC to Skechers: You'd Better Shape Up
Kim Kardashian was a prominent spokeswoman for Shape-Ups, but she's had more than a few sketchy deals of her own, including the Kardashian Kard debit-card debacle and QuickTrim weight-loss products, among numerous others. Not that I think a business should have to run its ad copy past some bureaucrat first, but the market meted out a harsher sentence more swiftly: Skechers lost about three-quarters of its market value as it tripped over its Shape-Ups laces. Of course, if you find yourself considering making a purchase that a Kardashian is endorsing, you may want to rethink the decision. While undoubtedly there are those who will view this as a victory for consumer protection, I see it as the essence of exactly what's wrong with such regulation.
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