I teach MBA students how macro economic environmental factos (PESTEL- Political, Economical,Social,Technological, Environmental, Legal) affect a business. Now, it looks like I have to rename the Acronym as PESTELO, with 'O' standing for 'Octopus'.
Bookmakers in Kazakhstan are furious with Paul the Octopus, who may have achieved a legendary status in Spain, for their low World Cup profits. The Kazakhstan Association of Bookmakers has complained that its members made less than half of their expected profits after too many punters put their faith in the miracle octopus, rather than relying on their own predictive powers. According to Kazakh newspaper Liter, they made a wafer-thin margin of £6,70,000 on £44 million in bets placed.
