<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/581dc358691e8820038b4f83-2400/rtr3jnpn.jpg" alt="frank addante" data-mce-source="Lucas Jackson/Reuters Pictures" data-mce-caption="Rubicon Project CEO Frank Addante."><p class="source"><span>Lucas Jackson/Reuters Pictures</span></p><p class="caption">Rubicon Project former CEO Frank Addante was named chairman of the company.</p></img></div><p></p></div></div>Good morning. Here's everything you need to know in the world of <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> today.</p><p><strong>1. <a href="http://www.businessinsider.com/how-russian-hackers-got-into-yahoo-accounts-2017-3">Russian hackers broke into millions of Yahoo accounts</a>. </strong>The US Department of Justice indicted four individuals, two of them from the Russian intelligence service FSB.</p><p><strong>2. <a href="http://www.businessinsider.com/interview-rubicon-project-ceo-michael-barrett-and-frank-addante-2017-3">How Rubicon Project wants to return to growth under its new CEO</a>. </strong>In an interview with Business Insider, the ad tech company's new boss Michael Barrett touted the renewed core focus on becoming the largest independent ad exchange, while founder and chairman Frank Addante addressed his company's sale rumors.</p><p><strong>3. <a href="http://www.businessinsider.com/adblock-plus-acceptable-ads-committee-2017-3">Adblock Plus named the first members of its Acceptable Ads Committee</a>. </strong>The committee will decide on the Acceptable Ads program that allows "non-intrusive" ads that meet certain standards to be served to users of Adblock Plus, AdBlock, Adblock Browser, and Crystal.</p><p><strong>4. <a href="http://www.businessinsider.com/analyst-snapchats-valuation-numbers-dont-add-up-2017-3">Snap's valuation doesn't add up according to analysts</a>.</strong> A note from Cantor Fitzgerald measured the company's value using the enterprise-value-to-revenue multiple, which was much higher for Snap than for Facebook, Twitter, and Google.</p><p><strong>5. <a href="http://www.businessinsider.com/tastemade-growing-faster-on-instagram-than-snapchat-2017-3">Tastemade said it's growing faster on Instagram than Snapchat</a>. </strong>The online video network 1 million to 1.5 million views for its stories.</p><p><strong>6. <a href="http://adage.com/article/media/fox-turner-viacom-partner-tv-ad-targeting-push/308289/">Fox, Turner, and Viacom are teaming up for a TV ad targeting platform</a>. </strong>As reported by AdAge, the three broadcasters are launching OpenAP, which will allow standardized audience targeting across the networks.</p><p><strong>7. <a href="http://www.businessinsider.com/apples-new-iphone-stickers-ad-is-filled-with-pop-culture-references-2017-3">Apple's new ad is all about iMessage stickers</a>. </strong>The Cupertino company hid a number of pop culture references throughout the ad.</p><p><strong>8. <a href="https://www.wsj.com/articles/ad-tech-veterans-bring-wall-street-trading-to-ad-inventory-1489524778">Ad tech veterans launched a blockchain-powered ad exchange</a>. </strong>According to the Wall Street Journal, the platform will allow more transparency while lowering risks and providing better data security.</p><p><strong>9. <a href="http://digiday.com/media/it-hasnt-killed-us-snapchat-discover-publishers-face-tough-challenge-as-platform-chases-tv/">Snapchat will prioritize its original shows for Discover</a>. </strong>According to Digiday, the company wants to run itself more like a TV and entertainment business.</p><p><strong>10. <a href="http://adage.com/article/cmo-strategy/j-j-make-le-petit-marseillais-big-tv/308286/">Johnson &amp; Johnson wants to take French brand Le Petit Marseillais to the US</a>. </strong>According to AdAge, the brand will be distributed through Walmart and is the first J&amp;J brand to launch without a TV campaign.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/body-language-expert-analyzes-trumps-handshakes-2017-2">A body-language expert analyzes Trump's unique handshakes</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hvZGR4OTE6fDiZahuZ1zpqjivFu3kkIX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'hvZGR4OTE6fDiZahuZ1zpqjivFu3kkIX',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

The 10 things in advertising you need to know today

The head of a $55 billion fund at First Eagle points out the risks everyone else on Wall Street is missing

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5c52156e2bdd7f0aef4d1a73-1828/jason smith higher res.jpg" border="0" alt="Jason Smith, Mindshare" data-mce-source="Mindshare" data-mce-caption="Jason Smith, digital investment lead of Chicago, Mindshare" /><p class="source"><span>Mindshare</span></p><p class="caption">Jason Smith, digital investment lead of Chicago, Mindshare</p></div><p></p></div></div></p><ul class="summary-list"><li>In this op-ed, Jason Smith of Mindshare argues that marketers' preoccupation with brand safety and other traditional guideposts may come at the expense of reaching consumers.</li></ul><ul class="summary-list"><li>He says <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> as we know it is on the wane as people spend more time with media such as HBO and Netflix that lack traditional ads.</li><li>Marketers should consider gaming, messaging and unconventional content sites that people are passionate about, even if they defy brand safety or traditional measurement rules, Smith says.</li></ul><p>Imagine this. Sex, violence, disease, corruption, and offensive language is rampant across American screens and viewers love it. A relatively unknown company is responsible, and advertisers aren't welcome. This company grows from 365 subscribers in Wilkes-Barre, Pennsylvania, in 1972 to over $4 billion in annual revenue by 2007.</p><p>It's 2019 and HBO's story is now rapidly playing out across new entertainment companies and platforms. A swath of unconventional media experiences are driving insane amounts of customer loyalty while lacking a standard advertiser presence. </p><p>I worry that in some advertising circles, there's a denial of a scary truth: That HBO model that bucked the support of advertising is spreading. There's plenty of conversation about ad blocking and Netflix, but this is bigger than that. Advertising, at least as we know it today, won't be around for the customers we need to build our brand. While brands chase the white rabbits of traditional measurement, standard ad formats, and conventional brand safety, they're avoiding their audiences' passion points. And in doing so, they're risking the long-term health of their brands. Consider three of the most prolific and loyal experiences for Gen X, Millennials, and Gen Z: Gaming, messaging, and content platforms.</p><h2><strong>Gaming</strong></h2><p>Gaming has always thrived on the promise of loyal fan bases, long hours of uninterrupted play, and insider communities. It's why game titles outsell movie releases and attendance at gaming competitions can outpace that of major sporting leagues. It's why companies like Fortnite and Twitch are growing with little or no help from traditional advertising.</p><p>Twitch gamer product integrations and custom in-game merch for Fortnite are just some of the ways that these companies are delivering what their audiences want without traditionally measured ad formats. These formats don't appear in a comScore run or allow for Nielsen measurement, though. And they may not be able to feed into a media mix model, so your marketing leads likely aren't bringing these important opportunities to you at scale. </p><h2><strong>Messaging</strong></h2><p>Text messaging apps are kings of mobile time spent. Emojis and gifs represent the more common language of messaging today, so much so that emojis have their own governing board to ensure the integrity of the "language." Sure, a chatbot makes sense for the right experience, but companies like Emogi, Giphy, and Tenor have built organizations that capture the native experience of messaging while pairing with unconventional data that may not allow for an integration with LiveRamp or attachments of a Moat tag. Do marketers' viewable impression goals prevent entry into this space?</p><h2><strong>Unconventional content</strong></h2><p>Shrinking margins, data privacy, and brand safety restrictions have driven content creators to shift into less advertiser-friendly financial constructs like HBO, Amazon, and Netflix (BuzzFeed's "Follow This" and Vox's "Explained" are two recent examples); events and subscriptions (think Barstool Sports and Bleacher Report); and even a Brave browser, which eliminates traditional ads in the entire browser in exchange for shared creator and browser currency exchanges that enable anonymity. There likely aren't CPMs on these buys. Chernin Group, Amazon, Google, Turner, NBC, Netflix, and Disney are investing hard cash in these unconventional content offerings, which makes it a lot easier for a content creator to limit their reliance on traditional advertising. </p><p>Some brands have embraced this evolution. Tyson Foods and General Mills (both Mindshare clients) have done integrations with Twitch and Giphy, respectively, and GE has its "LifeAfter/The Message" podcast. This can backfire, as it did when Fortnite gamers used the NFL's in-game skins to put their characters in Michael Vick and Aaron Hernandez uniforms. But counting on humanity and social media to get it right every time may leave you behind. </p><p>As we move into a world that challenges our conventional justifications, I encourage marketers everywhere to consider four things:</p><p><strong>Sex, controversy and violence sell.</strong> Always has, always will. Instead of writing off these areas as unsafe, figure out where your audience is spending its time and what risk you're willing to take to reach them there. Determine what the customer expects and how to maintain your brand's core values in these passionate environments.  </p><p><strong>Instead of rate card, efficiency, and low cost, think "cost per outcome."</strong> Getting caught up with comparing costs to non-appropriate outcomes for these environments can stifle you. Know where you have gaps in a customer's affinity with your brand and isolate cost variables that justify longer-term and full-funnel multipliers.</p><p><strong>TV is leading the way.</strong> The TV networks recognize these shifts and are investing heavily in the emerging technology that supports models that don't rely on ads. Brands must pay attention to these models and be creative to meet this shift. Those upfront conversations should focus on how your brand is aligning with the network's long-term strategy.</p><p><strong>Your competitors are already there.</strong> Lastly, with longer working hours, Fortnite, Netflix, Quibi, Instagram stories, texting gifs and emojis, we're losing opportunities to impact our customers now more than ever. You can't always wait for a media mix model to tell you which way is up all the time. I'm not advocating dismissing MMM or any of the protocols that protect our investments. But I challenge you to remember there are no crystal balls and let your organizations move beyond these models when the opportunities make sense. In many cases, your competitors are already taking these risks.</p><p><em>Jason Smith is digital investment lead, Chicago, Mindshare.</em></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/roger-stone-donald-trump-richard-nixon-2017-2">Roger Stone explains what Trump has in common with Richard Nixon</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/dmeOdLyE-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

Marketers are obsessing over brand safety, but in doing so, they may actually be risking their brands' long-term health

The head of the biggest exchange group in the world on Trump, China and handling $1 quadrillion in trading

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5d921a322e22af22527264c2-2000/img8774.jpg" border="0" alt="Forever 21" data-mce-source="Bethany Biron/Business Insider" /><p class="source"><span>Bethany Biron/Business Insider</span></p><p class="caption">A Forever 21 in New York City, which is on the list of those expected to close by the end of the year.</p></div><p></p></div></div></p><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/forever-21">Forever 21</a> is expected to close 350 stores globally, including up to 178 locations in the US, after <a href="https://www.businessinsider.com/forever-21-bankruptcy-rise-fall-retail-apocalypse-fast-fashion-2019-9">filing for Chapter 11 bankruptcy protection</a>. </li><li>The fast-fashion retailer shared its list of possible store closures in a court hearing on Tuesday, and said it will begin the process of store-wide sales and rent negotiations through the end of the year in an attempt to prevent permanent closures. </li><li>"The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords," a Forever 21 spokesperson said in a statement to Business Insider. "We do, however, expect a significant number of these stores will remain open and operate as usual, and we do not expect to exit any major markets in the U.S." </li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></strong></li></ul><p><a href="https://www.businessinsider.com/category/forever-21">Forever 21</a> is expected to <a href="https://www.businessinsider.com/forever-21-store-messy-racks-bankruptcy-2019-9">shutter up to 178 stores</a> in the US after the fast-fashion retailer filed for Chapter 11 bankruptcy protection on Sunday. </p><p>The company released a full list of possible closures in court on Tuesday, adding the caveat that Forever 21 does "not anticipate" closing all 178 "underperforming brick-and-mortar store locations," though it will begin sales and rent negotiations that will continue through December 31, 2019. At that point, the company will reconsider the closures and announce any supplemental closings in early 2020. </p><p>"The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords," a Forever 21 spokesperson said in a statement to Business Insider. "We do, however, expect a significant number of these stores will remain open and operate as usual, and we do not expect to exit any major markets in the U.S." </p><p><em><strong>Read more</strong>: <a href="https://www.businessinsider.com/forever-21-will-file-for-bankruptcy-close-hundreds-of-stores-2019-9">Forever 21, once among America's fastest-growing fast-fashion retailers, files for bankruptcy</a></em></p><p>Following the bankruptcy announcement, Forever 21 said it planned to close 350 stores globally, effectively ceasing operations in 40 countries. Though the company does not publicly disclose sales, it had shown <a href="https://www.businessinsider.com/forever-21-history-success-to-bankruptcy-reports-2019-9">signs of strife in recent years</a>, including closing locations in London and China - markets where it had aggressively expanded in years prior. </p><p>"This was an important and necessary step to secure the future of our company, which will enable us to reorganize our business and reposition Forever 21," Linda Chang, the company's executive vice president, said in a statement earlier this week. </p><h2>Here's a full list of possible store closures organized by state, according to court filings:</h2><ol><li>Dimond Center; 800 E. Dimond Blvd. #199, Anchorage, AK 99515</li><li>Tanger Outlets Foley; 2601 S McKenzie St, Foley, AL 36535</li><li>Outlet Shops Of Grand River; 6200 Grand River Blvd., Suite 646, Leeds, AL 35094</li><li>Mariposa Mall (F21 RED); 250 West Maripose Road, Nogales, AZ 85621</li><li>Arrowhead Towne Center; 7650 West Arrowhead Towne Center, Glendale, AZ 85308</li><li>Scottsdale Fashion Square; 7014 E. Camelback Rd., #2433, Scottsdale, AZ 85251</li><li>Solano; 1451 Gateway Blvd, Fairfield, CA 94533</li><li>Fresno Fashion Fair; 755 East Shaw Ave., Fresno, CA 93710</li><li>Tustin Marketplace (F21 RED); 2856 El Camino Real, Tustin, CA 92782</li><li>Del Monte Shopping Ctr; 1500 Del Monte, Monterey, CA 93940</li><li>Palladio; 410 Palladio Pkwy., Space 1941, Folsom, CA 95630</li><li>Glendale Galleria; 100 W. Broadway Ste E005, Glendale, CA 91210</li><li>The Americana at Brand; 899 Americana Way, Glendale, CA 91210</li><li>The River at Rancho Mirage; 71800 Highway 111 Suite #B19, Rancho Mirage, CA 92270</li><li>Chico Mall; 1960 East 20th St., Chico, CA 95928</li><li>Hollywood &amp; Highland; 6801 Hollywood Blvd. #1C-134, Los Angeles, CA 90028</li><li>The Plant (F21 RED); 7888-2 Van Nuys Blvd., Van Nuys, CA 91402</li><li>The Shops @ Tanforan; 1150 El Camino Real Ste 348, San Bruno, CA 94066</li><li>2 Stockton Street (SF, CA); 2 Stockton Street, San Francisco, CA 94102</li><li>Anaheim Plaza; 500 N. Euclid Street, Anaheim, CA 92801</li><li>Vintage Faire; 3401 Dale Rd., #200, Modesto, CA 95356</li><li>Lakewood Center Mall; 326 Lakewood Center Mall, Lakewood, CA 90712</li><li>Inland Center; 200 Inland Dr., San Bernardino, CA 92408</li><li>The Oaks; 350 W. Hillcrest Drive, Thousand Oaks, CA 91360</li><li>Pacific View Ventura Mall; 3301 - 1 E Main St. #1260, Ventura, CA 93003</li><li>Northgate Mall; 5800 Northgate Mall #043, San Rafael, CA 94903</li><li>901 State St.; 901 State Street, Santa Barbara, CA 93101</li><li>Galleria at Tyler; 3700 Galleria at Tyler Mall, Riverside, CA 92503</li><li>Pasadena; 35 N. De Lacey Ave., Pasadena, CA 91103</li><li>The Galleria @ South Bay; 1815 Hawthorne Blvd, Ste 188, Redondo Beach, CA 90278</li><li>Hillsdale Shopping Center; 396 Hillsdale Shopping Center, San Mateo, CA 94403</li><li>Parkway Plz; 415 Parkway Plaza #357, El Cajon, CA 92020</li><li>Northridge Mall; 400 Northridge Drive, Suite #D01, Salinas, CA 93906</li><li>Beverly Center; 8500 Beverly Blvd., Ste 835, Los Angeles, CA 90048</li><li>Sun Valley; 329 Sun Valley Mall, Suite #121, Concord, CA 94520</li><li>Fashion Island; 1101 Newport Center Drive, Newport Beach, CA 92660</li><li>Valencia Town Center; 24201 W. Valencia Blvd. #139, Valencia, CA 91355</li><li>Santa Anita; 400 South Baldwin Ave, Arcadia, CA 91007</li><li>Galleria @ Roseville; 1173 Galleria Blvd,. #P107, Roseville, CA 95678</li><li>Oakridge Mall; 925 Blossom Hill Road, #X-15, San Jose, CA 95123</li><li>Mission Valley; 1640 Camino Del Rio, San Diego, CA 92108</li><li>Sherman Oaks Fashion Square; 14006 Riverside Drive, Space #244, Sherman Oaks, CA 91423</li><li>University Town Center; 4545 La Jolla Village Drive Suite #H10, San Diego, CA 92122</li><li>Westfield Culver City; 6000 Sepulveda Blvd., Space #1450, Culver City, CA 90230</li><li>Westfield Topanga Plaza; 6600 Topanga Canyon Blvd, Space #60, Canoga Park, CA 91303</li><li>Garden State Plaza; 1 Garden State Plaza, Space #1006, Los Angeles, CA 07652</li><li>Tulare Outlet Center; 1695 Rutherford Street, Space A010, Tulare, CA 93274</li><li>Denver Pavillions; 500 16th St Ste 178, Denver, CO 80202</li><li>Flatiron Crossing; 51 West Flat Iron Crossing Dr., #ANC04, Broomfield, CO 80021</li><li>Orchard Town Center; 14694 Orchard Pkwy, #300, Westminster, CO 80023</li><li>Danbury Fair Mall; 7 Backus Ave. #M100, Danbury, CT 06810</li><li>Foxwoods Outlets; 455 Trolley Line Blvd. Suite 170, Mashantucket, CT 06338</li><li>Stamford Town Center; 100 Greyrock Place, Space #D-101 and #D-203, Stamford, CT 06901</li><li>Meriden Square Mall; 470 Lewis Avenue, Space 50, Meriden, CT 06450</li><li>Shops at Georgetown Park; 3222 M Street, NW, Washington DC, DC 20007</li><li>Woodies Building; 1025 F Street NW, Suite #200, Washington, DC 20004</li><li>Rehoboth III Outlet Center; 36504 Seaside Outlet Drive, Suite 1200, Rehoboth Beach, DE 19971</li><li>The Shops @ Wiregrass; 28210 Paseo Drive, Unit #190, Building No. Two, Wesley Chapel, FL 33544</li><li>Altamonte Springs Mall; 451 E Altamonte Drive #2329, Altamonte Springs, FL 32701</li><li>Pembroke Pines; 11401 Pines Blvd, Pembroke, FL 33026</li><li>701 Lincoln Road; 701 Lincoln Road, Miami Beach, FL 33139</li><li>The Mall at Millenia; 4200 Conroy Rd Ste #206, Orlando, FL 32839</li><li>The Gardens; 3101 PGA Blvd., Suite C107, Palm Beach Gardens, FL 33410</li><li>International; 2223 North Westshore Blvd Suite 2000, Tampa, FL 33607</li><li>Destin Commons; 4224 Legendary Dr., Suite #F- 94, Destin, FL 32541</li><li>Stonecrest; 2929 Turner Hill Road N.E #2460, Lithonia, GA 30038</li><li>Savannah Outlets; 200 Tanger Outlets Blvd. Ste. 191, Pooler, GA 31322</li><li>Guam Premier Outlets; 199 Chalan San Antonio Suite 200, Guam, Guam 96913</li><li>Ka Makana Alii (F21 RED); 91-5431 Kapolei Parkway, Ste. 712, Kapolei, HI 96707</li><li>Kaahumanu Center; 275 W. Kaahumanu Ave., #1034, Kahului, HI 96732</li><li>Royal Hawaiian; 2301 Kalakaua Ave., Ste #209, Honolulu, HI 96815</li><li>Pearlridge Shopping Center; 98-1005 Moanalua Road, Ste #231, Aiea, HI 96701</li><li>Outlets of Des Moines; 801 Bass Pro Drive NW, Space #120, Altoona, IA 50009</li><li>Lincoln Park; 865 W. North Ave., Chicago, IL 60642</li><li>Kildeer Village Square (F21 RED); 20393 N. Rand Road, Ste 126, Kildeer, IL 60074</li><li>Water Tower Place; 835 N Michigan Avenue, Chicago, IL 60611</li><li>10 South State Street; 10 South State Street, Chicago, IL 60603</li><li>Geneva Commons; 122 Commons Dr, Geneva, IL 60134</li><li>Yorktown Center; 300 Yorktown Center, Lombard, IL 60148</li><li>Forest Plaza (F21 RED); 6363 E State St. Space XF, Rockford, IL 61108</li><li>Old Orchard; 4999 Old Orchard Center #J6, Skokie, IL 60077</li><li>Eastland Mall; 800 N. Green River Road, Space #318A, Evansville, IN 47715</li><li>Shops At Perry Crossing (F21 RED); 2539 Perry Crossing Way, Ste. 100, Plainfield, IN 46168</li><li>Clay Terrace (F21 RED); 14550 Clay Terrace Blvd., Carmel, IN 46032</li><li>The Legend at Village West; 1817 Village West Parkway, Suite #F101, Kansas City, KS 66111</li><li>Lake Charles (F21 RED); 3401 Derek Dr., Lake Charles, LA 70607</li><li>Juban Crossing (F21 RED); 27853 Juban Rd., Denham Springs, LA 70726</li><li>Mall of Acadiana; 5725 Johnston St, Space #D-164, Lafayette, LA 70503</li><li>449 Washington Street; 459 Washington Street, Boston, MA 02108</li><li>South Bay Center (F21 RED); 21-39 District Avenue # 39, Boston, MA 02125</li><li>343 Newbury Street; 343 Newbury St., Boston, MA 02115</li><li>Towson Town Center; 825 Dulaney Valley rd., Space #3025, Towson, MD 21204</li><li>Ellsworth Place (F21 RED); 8661 Colesville Rd., Silver Spring, MD 20910</li><li>Tanger Ocean City; 12741 Ocean Gateway, Ocean City, Ocean City, MD 21842</li><li>Montgomery Mall; 7101 Democracy Blvd, Space 1252, Bethesda, MD 20817</li><li>Wheaton Mall; 11160 Veirs Mills Road, Silver Spring, MD 20902</li><li>Macomb Mall; 32233 Gratiot Ave, Roseville, MI 48066</li><li>Woodland Mall; 3195 28th St. SE, Grand Rapids, MI 49512</li><li>Tanger Grand Rapids; 350 84th St SW, #480, Byron Center, MI 49315</li><li>Twelve Oaks Mall; 27434 Novi Road, Novi, MI 48377</li><li>Great Lakes Crossing; 4160 Baldwin Road Space #426, Auburn Hills, MI 48326</li><li>Mall of America; 238 South Avenue #S230, Bloomington, MN 55245</li><li>West County Center; 9 West County Center, Des Peres, MO 63131</li><li>Summit Fair; 840 NW BLUE PARKWAY, K-101, LEE'S SUMMIT, MO 64086</li><li>Country Club Plaza; 111 Nichols Road, Kansas City, MO 64112</li><li>Crossroads Center (F21 RED); 15140 Crossroads Parkway, Gulfport, MS 39503</li><li>Cross Creek Mall; 425 Cross Creek Mall #TA-04, Fayetteville, NC 28303</li><li>Asheville Outlets; 800 Brevard Road, Ste. 824, Asheville, NC 28806</li><li>Northlake Mall; 9801 Northlake Mall Drive Space #201, Charlotte, NC 28216</li><li>Deptford Mall; 1750 Deptford Center Rd, Space #2111, Deptford, NJ 08096</li><li>Hamilton Mall; 4403 Black Horse Pike, Mays Landing, NJ 08330</li><li>Hanover Commons (F21 RED); 200-240 Route 10 West Space 6-9, East Hanover, NJ 07936</li><li>Cherry Hill Mall; 2000 Route 38 #1175, Cherry Hill, NJ 08002</li><li>Short Hills; 1200 Morris Turnpike, Space D123, Short Hills, NJ 07078</li><li>Brunswick Square; 755 State Route 18 #190C, East Brunswick, NJ 08816</li><li>Santa Fe Place (F21 RED); 4250 Cerrillos Rd. #1030, Santa Fe, NM 87507</li><li>The Summit; 13925 S. Virginia Street, Reno, NV 89511</li><li>490 Fulton St (F21 RED); 490 Fulton Street, Brooklyn, NY 11201</li><li>Soho; 568 Broadway, New York, NY 10012</li><li>Woodbury Centre (F21 RED); 37 Centre Drive, Unit 010, Central Valley, NY 10917</li><li>Fashion Outlets of Niagara Falls; 1965 Fashion Blvd. Suite 238, Niagara Falls, NY 14304</li><li>Atlas Park; 80-40 Cooper Ave., Suite #4-002, Glendale, NY 11385</li><li>Kings Plaza Mall; 5301 Kings Plaza #210, Brooklyn, NY 11234</li><li>White Plains Galleria; 100 Main St., Ste 221, White Plains, NY 10601</li><li>Crossgates Mall; One Crossgates Mall Road, #99x06, Albany, NY 12203</li><li>Sangertown Square; 8555 Seneca Turnpike, Space # D06, New Hartford, NY 13413</li><li>Gallera at Crystal Run; 1 Galleria Dr., Space #D207, Middletown, NY 10941</li><li>Destiny USA; 1 Destiny USA Drive Space #99X01, Syracuse, NY 13204</li><li>Roosevelt Field; 630 Old Country Road # 2041 A, Garden City, NY 11530</li><li>Tanger Deerpark; 152 The Arches Cir SUITE 924, Deer Park, NY 11729</li><li>Oakdale Mall (F21 RED); 601-635 Harry L Drive Ste. 41, Johnson City, NY 13790</li><li>Jefferson Valley; 650 Lee Blvd. #D118, Yorktown Heights, NY 10598</li><li>Sunrise Mall; 1107 Sunrise Mall, Massapequa, NY 11758</li><li>World Trade Center; 185 Greenwich St., Ste. LL4435, New York, NY 10007</li><li>The Mall At Greece Ridge (F21 RED); 208 Greece Ridge Center Drive, Rochester, NY 14626</li><li>Kenwood Center; 7875 Montgomery Rd, #2435, Cincinnati, OH 45236</li><li>Eastwood Mall; 5555 Youngstown Warren Road, Suite #412, Niles, OH 44446</li><li>Liberty Center; 7530 Bales St. Space A-130, Liberty Township, OH 45069</li><li>Tanger Jeffersonville; 8000 Factory Shops Blvd. #845, Jeffersonville, OH 43128</li><li>Dayton Mall; 2700 Miamisburg-Centerville, Space # 300, Dayton, OH 45459</li><li>Valley River Center; 222 Valley River Center, Eugene, OR 97401</li><li>Monroeville Mall; 266 Monroeville Mall, Suite 226, Monroeville, PA 15146</li><li>Millcreek Mall; 5800 Peach St. Unit #450, Erie, PA 16565</li><li>Willow Grove Park; 2500 Moreland Rd, Ste 2001, Willow Grove, PA 19090</li><li>1708 Chestnut Street; 1708 Chestnut Street, Philadelphia, PA 19103</li><li>Plymouth Meeting; 500 W. Germantown Pike, Space 1355, Plymouth 19462</li><li>Plaza Del Caribe; 2050 Ponce By Pass Suire #112, Ponce, PR 00717</li><li>Manolia; 2701 David H. McLeod Blvd., Space #1316, Florence, SC 29501</li><li>Tanger Outlets Charleston; 4840 Tanger Outlet Blvd, North Charleston, SC 29418</li><li>Cool Springs Galleria; 1800 Galleria Blvd, Ste #2520, Franklin, TN 37067</li><li>Hamilton Place; 2100 Hamilton Place Blvd., Chattanooga, TN 37421</li><li>Stonebriar Centre; 2601 Preston Road, Space #2148, Frisco, TX 75034</li><li>Glade Parks (F21 RED); 1210 Chisholm Trail, Ste. 100, Euless, TX 76039</li><li>Mall De Las Aguilas (F21 RED); 455 Farm-to-Market Rd. 375, Eagle Pass, TX 78852</li><li>Westgate Mall (F21 RED); 7701 West Interstate 40, Ste. 542, Amarillo, TX 79121</li><li>Village at Cumberland Park (F21 RED); 8934 S. Broadway Ave. Ste. 448, Tyler, TX 75703</li><li>Central Texas Marketplace (F21 RED); 2408 W Loop 340, Waco, TX 76711</li><li>Willow Bend; 6121 W. Park Blvd, Ste B121 &amp; B214, Plano, TX 75093</li><li>Tanger Forth Worth; 15829 North Freeway, #110, Forth Worth, TX 76177</li><li>La Palmera; 5488 S. Padre Island Dr., Corpus Christi, TX 78411</li><li>South Towne Center; 10450 South State St., Suite #2300, Sandy, UT 84070</li><li>Tanger Park City; 6699 N. Landmark Dr. Space #L150, Park City, UT 84098</li><li>City Creek Center; 51 S. Main St., Suite 162, Salt Lake City, UT 84101</li><li>Regency Square; 1404 N. Parham Rd. #1124A, Richmond, VA 23229</li><li>Manassas; 8300 Suoleu Road Space #031, Manassa, VA 20109</li><li>Macarthur; 300 Monticello Ave., Suite #255, Norfolk, VA 23510</li><li>Fair Oaks; 11750 Fair Oaks #H227, Fairfax, VA 22033</li><li>Trails At Silverdale (F21 RED); 11467 Pacific Crest Place NW, Suite C100, Silverdale, WA 98383</li><li>Valley Mall (F21 RED); 2529 Main Street, Ste. 128, Union Gap, WA 98903</li><li>601 Pine Street; 601 Pine St., Seattle, WA 98101</li><li>Bellevue Square; 248 Bellevue Square, Bellevue, WA 98004</li><li>Outlet Collection of Seattle; 1101 Outlet Collection Way, Space 319, Auburn, WA</li><li>Southcenter Mall; 836 Southcenter Mall, Tukwila, WA 98188</li><li>Southcenter Mall; 467 Southcenter Mall #1545, Tukwila, WA 91811</li><li>Mayfair Mall; 2500 Mayfair Road #0208, Wauwatosa, WI 53226</li><li>West Towne Mall; 229 West Towne Mall #E16, Madison, WI 53719</li><li>Morgantown Mall; 9311 Mall Rd, Morgantown, WV 26505</li><li>Huntington Mall (F21 RED); 500 Mall Rd. Suite 603, Barboursville, WV 25504</li></ol>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-oysters-are-so-expensive-scotland-loch-fyne-farming-2019-9">How oysters went from cheap snack to luxury dish and why they're so expensive now</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/I0zk2ImE-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

Forever 21 could close 178 underperforming stores in the US. Here's the full list of locations at risk.

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/557b05286da811c86a818323-1200-2000/americanmojocoverfinal.jpg" border="0" alt="AmericanMojo"><p class="source"><span>_</span></p><p class="caption">This story comes from "American Mojo: Restoring Our Middle Class Before The World Blows By" by Peter D. Kiernan.</p></img></div><p></p></div></div></p><p dir="ltr">"<a href="http://www.amazon.com/gp/product/1630269239/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1630269239&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=Q3WR3BOIAO62IOGU">American Mojo: Lost and Found</a>" grew from a question posed by a young Chinese businessman as we strolled the riverbank in Shanghai beneath the snapping red flags.</p><p dir="ltr">"Why are you letting your middle class wither and die? We are trying mightily to create one and you seem so indifferent."</p><p dir="ltr">Like most Americans, I knew our middle class faced tribulations - and worried why we had tolerated such a retreat for decades.</p><p dir="ltr">That pointed query sparked my multi-year examination of the history of our middle class, its ascension after World War II and surges in the 50s and 60s.</p><p dir="ltr">It traced how cracks quickly appeared in the middle class foundation and how many Americans were uninvited to the dream.</p><p dir="ltr">That journey took me through economic conflagrations of the 80s and 90s, and enormous changes in the American population <span>-</span> all prelude to the lost mojo of the Great Recession.</p><p dir="ltr">Everything led to a single question.</p><p dir="ltr">Can our mojo be found? The keys to restoring our middle class are everywhere - especially in the aspirations of the massive middle class in the developing world.</p><p dir="ltr">Who better than America knows how to feed the needs of a growing middle class?</p><p dir="ltr">Finding our mojo requires two powerful forces to achieve harmony <span>- </span>one the ever changing, gifted and spirited people throughout our nation; and two the emerging countries creating their own unique middle classes.  </p><p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/558191fe6da811003b3c4f50-1200-924/shanghai-real-estate.jpg" border="0" alt="shanghai real estate"><p class="source"><span>Reuters/Stringer</span></p><p class="caption">A sales assistant speaks to a customer in front of a model of a residential complex, at a real estate exhibition in Shanghai, China.</p></img></div><p></p></div></div>In twenty years the global middle class will be unrecognizable. Why? Because outside our border lies 80 percent of the world's purchasing power, 92 percent of the world's economic growth, and 95 percent of the world's consumers. And they are hungry for change in a way that should be familiar.</p><p dir="ltr">Today, dozens of nations have explicit plans to create their own middle-class miracle. A billion more middle-class members should emerge in the next decade. What does that surge mean for the restoration and livelihood of the American middle class?</p><p dir="ltr">As we did in the fifties, these countries are short-cutting their way to a dynamic middle class by providing it with conditions to prosper.</p><p dir="ltr">Meanwhile, we drift along, vaguely concerned that our middle class is shrinking, that wages are sideways at best, and that our population is changing right before our eyes.</p><p dir="ltr">If we have no plan at all, what does that mean for our prospects?</p><p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55819c32ecad04ec3753bd28-1200-924/houses-14.jpg" border="0" alt="houses"><p class="source"><span>Reuters/Stringer</span></p><p class="caption">A general view of newly built houses at Dadun village of Hainan province, China, 2013.</p></img></div><p></p></div></div>We still look at middle-class problems myopically - as purely domestic affairs. The year 1955 is dead and gone.</p><p dir="ltr">My book "<a href="http://www.amazon.com/gp/product/1630269239/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1630269239&amp;linkCode=as2&amp;tag=http://www.amazon.com/gp/product/1630269239/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1630269239&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=Q3WR3BOIAO62IOGU-20&amp;linkId=Q3WR3BOIAO62IOGU">American Mojo: Lost And Found</a>" assumes the missing global perspective ignored by domestic policy ostriches who so often dominate discussion. When it comes to the middle class, all the world's a stage.</p><p dir="ltr">Today, we remain an economic behemoth, but the nations of the world are creating their own vision of modernity.</p><p dir="ltr">The United States has played a major role in building these countries, for both altruistic and economic reasons.</p><p dir="ltr">They want what we have. Now we face an entirely transformed chessboard, yet our moves haven't changed.</p><p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55802f536da811ba76ef5c4b-1200-924/men-play-chess-at-an-open-air-street-chess-club-at-gariahat-boulevard-in-kolkata-july-29-2013-1.jpg" border="0" alt="Men play chess at an open air street chess club at Gariahat Boulevard in Kolkata July 29, 2013." style="color: #000000;"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C04WN5U2EY24">Reuters</a></span></p><p class="caption">"Now we face an entirely transformed chessboard, yet our moves haven't changed."</p></img></div><p></p></div></div>Which raises a central question for policy makers speeding to save the day with their eyes glued to the rearview mirror: Is a vibrant global middle class an endless shining sea of opportunity, or is it an infinity pool where water flows over the edge to be distributed to other parts of the pool?</p><p dir="ltr">To answer, we have to examine how the middle class was created, who was swept along by its momentum, and who was left behind. Otherwise imperfect recollections will prejudice our ability to embrace the enormous change that is coming.</p><p dir="ltr">We have to peer into the crystal ball of international growth and make tough choices. There simply isn't enough growth at home to sustain our middle class. There is no case for a strong American middle class that does not involve powerful interaction with international trading partners. Yet the exploding markets in the developing world are uncharted and changing very quickly.  </p><p dir="ltr">Look at a most basic metric - population growth - where the playing field is changing profoundly. Today, the United States ranks third at 320 million people, far behind China and India, who each handily exceed a billion. (China boasts a billion more people than the United States).</p><p dir="ltr">That much is common knowledge. But in the last few years, change on the leader board has been dramatic and less well known. The next five nations in size are Indonesia, Brazil, Pakistan, Nigeria, and Bangladesh, which range from 250 to 165 million souls with population growth rates exceeding our own - and all with economies growing quickly (most of their GDPs are growing faster than 5 percent, or roughly double ours).</p><p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55803afb6bb3f7262b3304ef-1200-924/india-41.jpg" border="0" alt="india" style="color: #000000;"><p class="source"><span>Abhishek N. Chinnappa/Reuters</span></p><p class="caption">Employees chat inside the office of online fashion retailer Myntra in Bengaluru, India, May 6, 2015.</p></img></div><p></p></div></div>By comparison, France, the United Kingdom, and Italy are all around 60 million and aging. Germany is at 80 million and Russia is at 140 million and shrinking, unless you count annexed countries. Japan's government predicts its population of 127 million will shrink by a third over the next fifty years. These countries face a very different future.</p><p dir="ltr">But there is one thing that all these nations have in common-a serious interest in maintaining or growing a strong middle class. What does that mean for us?</p><p dir="ltr">The "next five's" metamorphosis gets less spotlight than the massive growth in the top two. India expects to grow by nearly half a billion people by 2050 and their average age is already well below China's and our own.</p><p dir="ltr">Even more surprising, Pakistan and Nigeria combined are expected to add more people over the same period than currently live in the United States. Bangladesh is tricky; it has the GDP of Utah and a population in extreme poverty that has been only too happy to lead the manufacturing race to the bottom.</p><p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/558192e9eab8ea751153bd28-1200-924/pakistan-25.jpg" border="0" alt="pakistan"><p class="source"><span>Akhtar Soomro/Reuters</span></p><p class="caption">Pakistan's population is growing quickly. Here, a man hangs wet clothes on a rope to dry along a street in Karachi.</p></img></div><p></p></div></div>Even if the country survives the rising oceans, where will it be in twenty years? Brazil and Nigeria are blessed with exceptional mineral wealth and also cursed by extreme poverty. Yet, combined, they approach $3 trillion in GDP.</p><p dir="ltr">Brazil is already the seventh-largest economy in the world, not long ago surging past the United Kingdom. Are they a competing interest, a collaborator, or both? There is no major American middle class possible without a powerful relationship with these rising tigers.</p><p>The psychology of each developing country is in many ways more important than whether they can succeed in creating a vibrant middle class.</p><p>They are fighting for an articulated national goal - while we blithely drift along. We should expect billions of new members of the world's middle class, with trillions in spending capacity in a generation, perhaps two.</p><p>What is our response to so many passionate strategies from so many different countries? Do we even have a plan? Because rest assured, they do.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55803d0369bedd1b393304ed-1200-924/rio-8.jpg" border="0" alt="rio" style="color: #000000;"><p class="source"><span>Michael Dalder/Reuters</span></p><p class="caption">The skyline of Rio de Janeiro. Brazil is already the seventh-largest economy in the world.</p></img></div><p></p></div></div><em>Excerpt from "<a href="http://www.amazon.com/gp/product/1630269239/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1630269239&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=JZMTN5M7V4KYWYLR">American Mojo: Lost and Found Restoring Our Middle Class Before The World Blows By</a>" by Peter Kiernan. © 2015 Peter Kiernan, III. Reprinted by permission from Turner Publishing Company. ALL RIGHTS RESERVED.</em></p>

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