"60 Minutes" on October 7, 2012
Luxottica eye frames is the second story.
Singer songwriter Rodriquez.
Steve Croft does the story on Huawei. World headquarters is near Hong Kong. Huawei is the world leader in making 4G phones. Mike Rogers is interviewed. He mentions "if you care about your intellectual property." Letting a Chinese company create phone infrastructure is an issue. Intercept high level communications? Shut down services? This is a strategic industry. Jim Lewis has followed Huawei for years. Steady extensive support from the Chinese government. Huawei is accused of espionage. Cisco and Motorola accused Huawei. Huawei's US headquarters is in Plano, Texas. Chris Johnson former CIA analyst on China. The Chinese military plays a role in telecommunications. Ren Jun Feh. A Communist Party committee has offices inside of Huawei's offices. In China, a company is a Chia pet. United Wireless in Dodge City. Bought equipment from Huawei. The US depends on foreign suppliers (3 European/2 Chinese) for 4G systems.
Luxottica chief Andrea Guerra interviewed by Lesley Stahl. Luxottica created high fashion glasses from major designers. They are called eyewear. Face jewelry. There is a markup of perhaps 20X. Lesley asks "why" the glasses don't bear the name Luxottica. They do own Ray-ban, as of 1999. They stopped selling for about 1 year; then created upscale Ray-Ban's. "It is an American brand, owned by Italians." They also bought Lenscrafters. Mark Weichel. Lenscrafters sells mostly Luxottica frames. Luxottica also owns Pearl and runs Target Optical, Sears Optical and SunGlass hut. The appearance of variety is an optical illusion. Oakley made sports glasses/sun glasses.
Oakley was bought in 2007. Walmart, Costco are competitors. Luxottice is a pricemaker. Pay $200 for a product that costs $30 to make. Luxottica also owns EyeMed. "People love to have different brands." People are ready to pay a lot. Lesley tried on a pair of frames (blue in color) that cost $400.
Rodriguez records sold well in South Africa. Now a movie: "Searching for Sugarman." Dennis Coffee of MoTown discovered Rodriguex. First album was "Cold Fact." Nobody in America was interested, but Rodriguez was an icon in South Africa. The Establishment Blues in 1970. The ultilmate enigma. Rumor was Rodriguex set himself on fire [?] But not true. Son of an immigrant worker from Mexico. Rodgriguex was a day laborer. In 1998, his fans invited him to tour South Africa. R: I was too disappointed to be disappointed.