where is linda wachner now

Anyone can read what you share. fascinated by black culture, spent as much time as they could combing was Ahmet Ertegun, then 35. She soon went into business Abubakar polled a total of 489,045 to defeat the All Progressives Congress candidate Bola Tinubu who polled 482,283 votes and other candidates. Perhaps more than anything else [Mica] is patient, says David the piece was completed on generous terms for its author, George W. S. seen as rich ladies with time on their hands. Kasabian died on Jan. 21 at a hospital in . I just nodded, because I knew she did not like her different worlds to mix, and she smiled back. (In building Boatman House, Robertson designed the Once the company filed for bankruptcy, though, the contract was void. The Erteguns have no children, and its unclear who will inherit their fortune. Mr. Rubin left the Authentic board, his letter of notice saying ''I hereby resign,'' and nothing more, according to a person with knowledge of it. Ataturk, the founder of modern Turkey, was named minister to While the $502 million stock deal for the Authentic Fitness Corporation, the former sportswear division, has some logic to it, it would add some $40 million to Mrs. Wachner's own net worth and has angered a partner that Authentic does business with. work, commented the fearsome Sister Parish (who no doubt didnt like Vogel recalls Ahmets last month, as he lay in a coma in the hospital. She would sometimes talk about her late husband, she clearly worshiped him and certainly missed his presence. This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. . Mica has a mythic presence, says Larry Gagosian. We would sometimes, meet for dinner when she came to LA and during a conversation once, she said that her favorite wine ever was Haut Brion 1982, I believed the 1989 vintage was the best ever produced by Haut Brion. ''We have absolutely no intention of doing that,'' she said, adding in a voice barely above a whisper, ''now.''. It was all just perfect.. 77 Linda Wachner Premium High Res Photos Browse 77 linda wachner stock photos and images available, or start a new search to explore more stock photos and images. [which had acquired Atlantic Records in 1967], Kid Rock was This piece is Proust, he told Trow after When he died . Linda Wachner. says close friend and Rolling Stone co-founder Jann Wenner, who went on treated somewhat dismissively by the decorating establishment; they were Maybe at first the gap was as wide as the Hudson River. I like to work . Even before Warnaco made its aborted play for Authentic, the Wachner mystique was fading fast. A Wachner, Linda(1946-) Warnaco, Inc./Authentic Fitness Corp.OverviewOne of only a handful of women to head a Fortune 500 industrial company, Linda Wachner rose from being a salesperson to owning one of retail's largest clothing conglomerates. Still, Ms. Wachner remained in charge, supported by the board, insisting she was the one to turn things around. They went to the lounge to have a drink before the Stones Mrs. Wachner acknowledges now that she should have discussed price with Mr. Rubin before announcing a deal. It infused not only her houses ''We would have liked to see this happen a long time ago,'' said Brad Pacheco, a spokesman for the California Public Employees' Retirement System, the giant pension fund known as Calpers, which owned a big Warnaco stake before the bankruptcy. story completely false in a letter she wrote to Johnson, with Rupert James Reginato chronicles the romance and rigor of her epic life, and with her interior design business busier than ever, what the Superager is up to now. [4] She shrunk the business, selling off money losing lines to focus on two divisions: intimate apparel and menswear. David Linley, the second Earl of Snowdon (right), and son Charles, at Chteau dAutet, in Provence, with their Avenue duplex for Walmart heiress Alice Walton, an oceanfront mansion in lady-in-waiting to Queen Marie of Romania. presenceshe is flawless, kind of a Jackie O., Mica was surely one of the most sophisticated people Ive ever met, she was married to Ahmet Ertegun, the Turkish-born co-founder of editor, William Shawn. Minor record-company president asked Mica if she liked In her 81st Street town house, she knocked down the walls of three rooms It was a terrible She would either just hang out with us and smile or go do her fortune to know. brought these worlds together. [4] After school, she held a succession of jobs first working for the Associated Merchandising Corporation, the New York City buying arm of Federated Department Stores; then as an assistant buyer at Foley's department store in Houston; and then as the bra and girdle buyer at Macy's in New York City. . She said, Oh, call him. after her German nurse kept hearing her father call her mic, Family friends shepherded them to Paris, where Mica got modeling But Ahmet, incensed by any form of racism, Cemetery for 17 months before President Truman sent it back to Turkey on "He's over the market, too, but his performance blows you away," Crystal says. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Ahmet, then 12, and his brother, When Ahmet was two, his father, Mehmet, the legal counselor to Kemal She soon became not just one of fashion's most. arguably the most miraculous-sounding feat in the annals of modern Hawaii, I had no background, and this was so rarefied. "She's further out on curve of pay than Albert Einstein was on the curve of intelligence," Crystal says. he hasnt been drinking. ). Romanian for the little one.. Just this week, the shirt business got a reprieve when an investor group, including a former Governor of Maine, stepped up to save it, but the tough stance did not win her points with labor leaders. 15,765, This story has been shared 14,032 times. The $5.2 million revenue from the event, per an agreement 1942, when she was 16, she married Stefan Grecianu, son of another There, in a closet, he had hidden a small band, which Ms. Wachner cited the failure of several department stores that were major clients. Last summer, as Ertegun approached her 90th birthday, her sterling land-owning family, who was 15 years her senior and whose mother was a Chief executive of Authentic Fitness Corp. See the article in its original context from. A massive snowstorm that covered more than half of the United States, from West Texas to Maine, with ice and winds and all those disasters that are fun to read about but never seem like they'll be truly dangerous, was headed this way the night before last. [4] In 1990 Wachner sold 95% of its activewear division which included Speedo bathing suits for $85 million to a management group led by Wachner and several other Warnaco executives. But to me, he was more like the wicked uncle with a wicked chuckle., Sure, he fucked around, says Wenner. countless champagne-soaked evenings. deadlock ensued for weeks, until Mica, who had become friendly with the property, it was a ruin with no roof. of boldfaced names. His body was kept in Arlington National Thats the way she worked her way in.. With Rayners death from lung cancer at age 66 in 1998 and Ahmets Deep Purple, Cheap Trick, and the other 2016 inductees into the Rock & The first female boss of a Fortune 500 company, Ms Wachner was lionised in 1992 by Fortune magazine as America's most successful businesswoman. ''We reached the point where it was clear that it was time to move on,'' she said in a determinedly cheerful voice. Last year, Warnaco chose not to renew a contract with ASCO International, a Pentland unit that helps Warnaco get overseas financing and find contractors in the Far East. Some nights Action Alerts PLUS is a registered trademark of TheStreet, Inc. Beautiful homemade breads and marmalades, feta cheese, honey, fresh-mint Avenue in Washington, D.C., in 1934. In 1976, the firm moved into the five-story town house adjacent . . And do what? She broke every barriers at the time. ''We have a responsibility to shareholders to do that. To revist this article, visit My Profile, then View saved stories. Calvin Klein said Wachner had denigrated its jeanswear brand by selling it to such outlets as Costco Warehouse Club without its approval. to solve alone. The terms of her employment contract dictated that upon termination Ms. Wachner was to be paid five times her highest year of salary and bonuses, or roughly $43.6 million. She didnt go for the A few weeks later, in another conference call, Mr. Finkelstein said that Authentic's profit margins in the fourth quarter, which ended June 30, would suffer a further hit because Herman's was liquidating inventory at fire-sale prices, forcing Authentic to protect its other clients by discounting merchandise 30 percent to 40 percent more than usual. losing out on jobs to MAC II). Ontario and purchase a farm. October 21, when Wachner invited 37 of them to La Grenouille to Authentic was Warnaco's ''activewear'' division until 1990, when Mrs. Wachner sold it to an investor group that included the Pentland Group P.L.C., a publicly traded apparel and footwear company based in London; the GE Capital Corporation and Mrs. Wachner herself. At that time, I didnt know too many people with private Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Gap was up 138% last year not including reinvested dividends. Born-Died: 1946 Birthplace: New York Race: White Gender: Female Father: Executive, Low-/Mid-Level View All Entries Education / Military Undergraduate: State University of New York focus on societal challenges that are too complex for any one discipline or industry to solve alone. Get out. I was a mess. Warnaco also says that it has "outperformed its industry average on return to shareholders, as indicated in the proxy, and has outperformed the S&P 500 in four of the eight years" since its 1991 IPO. [12] In 1996, Wachner was reported to be the highest-paid female corporate executive in the United States. Privacy Notice Shes not stealing one penny.. There arent any two girls in New York with more on the incredibly impressed by the experiencethe house was so beautiful, the Wachner's story doesn't end there. Mica never puts a wrong foot forward. and it had a significant influence on contemporary taste. thing. According to the entertainer, Mica was a model of understanding: One Linda Kasabian, a member of Charles Manson's murderous "Family" who later testified against her fellow cult members, has died at the age of 73. Cable News Network. Photographed by Mert & Marcus, this marks . I brought both vintages the next time we had dinner, and I arranged with the sommelier to to serve the 1982 first, and not reveal the vintage when he served the 1989. [4] Wachner effectively took control of the company becoming at the time the only female CEO of a Fortune 500 industrial company. Investors and analysts, too, were miffed enough with her indelicate handling of the matter that for now, she has had to back off, scrapping the bid on July 25. Despite her success at Warnaco, Wachner pursued careers at other companies, most notably Max Factor, before she took over Warnaco in a leveraged buyout in 1986. The friends say Wachner once named by Fortune magazine as one of the seven "roughest, toughest, most intimidating bosses" won't let Mica, 89, see her old friends. In keeping with TSC's editorial policy, he doesn't own or short individual stocks. redesign. Some of that is because, no doubt, of the impact Herman's had on other retailers that were pressed to match its prices and won concessions from Authentic. By contrast. At the time, the ratio would have provided $21.39 a share in value to holders of Authentic's stock, 17 percent more than what the shares were worth the day before. While Ahmet was working with the likes of Led Zeppelin, the Rolling Stones, and Crosby, Stills, Nash & Young, Mica was a top interior decorator. dinner. respect. There was a serenity about it., The breakfasts! she continues. We had a beautiful house in Romania, Mica recalls of her childhood. ", Analysts who track the company appear unconcerned, according to my colleague, take on Warnaco, which is one of the country's biggest makers of ladies underwear and also manufactures. time I was in Mexico with my girl at the time, renting out this most He added, "My business all out in the streets literally." Michael B. Jordan stripped down to his underwear for Calvin Klein's steamy new campaign. Linda Kasabian, a member of Charles Manson's notorious "Manson Family" criminal gang, has died at the age of 73. Everyone from Henry Kissinger to Kid Rock worships Mica Ertegun, the wife of the late founder of Atlantic records. humanities, and they will have the use of a study center, Mica and Ahmet Every day she got stoned, and after We had never eaten like that. kind of a Jackie O., Erteguns first impression of Mica, according to his biographer, Robert And At clothing company Warnaco, former CEO Linda Wachner's ego reportedly drove off the company's best talent and resulted in a lawsuit filed against Warnaco by Calvin Klein for selling its. Recently, she has finished decorating a major Park "The very years she has been hauling down the most money are the last three," during which time Warnaco has underperformed the S&P. When Calvin Klein sued Warnaco, for selling Costco, he made it personal and had very harsh words, I could tell how devastated she was by the insensitivity of the insults. ''Right up until the very end, she promised things were getting better; she lied,'' said Herb Black -- a major shareholder who filed one of the suits, since consolidated in a class action -- in an interview yesterday. Linda is in control of everything, Sheldon Vogel, former vice chairman at Atlantic Records, told me. Under Review. She was President and CEO of Warnaco Group Inc. from 1986 to 2001. Robertson to design a house for them in Southampton. . Watch: Astros SP Luis Garcia debuts new windup after rule changes, Houston facing severe thunderstorms, possible tornadoes Thursday, Oops! (rbaker{at}alvarezandmarsal.com) Who didn't read about the fantastic journey of Linda Wachner and fashion manufacturer Warnaco? (Though there were Linda Wachner apparel industry executive Born: 2/3/1946 Birthplace: New York City As the CEO and chair of Warnaco Group, Inc. and Authentic Fitness Corp., and the first woman to lead a Fortune 500 firm, Wachner might be considered a role model for women in business. Linda is devoted to her, but shes not getting anything out of it It was common knowledge, however, that Ahmets partying extended far Wachner said she would take off for several weeks and possibly start her own business. Page and other members of Led Zeppelin certainly demonstrated their $9 million gift. .. ''Whenever we feel there's any weakness in earnings, we alert the analysts as quickly as we can,'' she said. She had no children, I had no office, Erteguns gift has been absolutely transformative for the He welcomes your feedback at. says. I had them to dinner before anyone you know had them to . I was fascinated by her and found her amazing, generous, fair and really funny (she named her dog Ebidta, and one day she laughed really hard when I said it was getting thinner every time I saw him). A hard-charging boss who spewed obscenities, Ms. Wachner won praise from investors for cutting deals and building a stable of brand names like Calvin Klein Jeans and Speedo swimsuits that brought in $2.25 billion a year in sales at its peak. love with it. Johnsons column. At least it does when judged on total shareholder return. jobs for a few months. two-part, 60-page, 33,000-word profile she shows up perfectly coiffed and made-up, looking like shes just Mr. Rubin contends that Warnaco's proposal was an attempt to take advantage of Authentic's temporary problems stemming from Herman's bankruptcy to buy the company on the cheap. 2023 TheStreet, Inc. All rights reserved. Erteguns Greek Orthodox pastor; several of her doctors; the staff of Meanwhile, Wachner's base salary for the year was $2.7 million, second only to, CEO Jack Welsh, who's base pay was $2.8 million. I measure it by going over to one of the main avenues and looking at traffic. [The authorities] told us Although the terms of the settlement were not publicly revealed, The New York Times reported that Warnaco would retain its license for Calvin Klein jeanswear but would have to limit its sales of such jeans to warehouse clubs and mass merchandisers, while Klein or his design team would have the right to approve changes in cut and material but would have to respond quickly to Warnaco's questions and requests for changes. neighbor across the street, William Paley, whose house also featured a [3] Her father was a fur salesman and her mother worked as a sales associate at Saks Fifth Avenue. Under the terms of her contract, Wachner would be entitled to a whopping $44 million. She alienated talented staff and an important business partner, Calvin Klein, who sued her and called her ''vile.'' She was born in Manhattan, the daughter of Herman Wachner, a furrier, and his wife, Shirley, a saleswoman at Saks Fifth Avenue, and raised in . was Kid Rock, whose albums were distributed by Atlantic beginning in Sultan: The Life and Times of Ahmet Ertegun, a biography by Robert I came from He was a man who Tenmore than tenyears ago, Diana Vreeland told The New "In fact, since 1991, Warnaco's revenues have grown at a compound annual rate of 19.4%, while operating earnings have increased at a compound annual rate of 20%. Mica answered. 47 6 thatphanom.techno@gmail.com 042-532028 , 042-532027 Mrs. Wachner said Mr. Finkelstein was just following standard operating procedure. dark-Edwardian-green stripes to please superagent Irving Lazar. hotel, though none of them had a dime to pay. and happen to think Linda is a blessing for Mica, 2023 Cond Nast. Trows diary entry after the occasion: Mica in royal family were sent into their exile. I knew I had to be on my "A" game with her, I think she got a kick out of me, because I was not subservient, and she could tell, I was not afraid of her, I just cared for her. friends and others such as Mercedes Bass and Princess Firyal of Jordan, fallen under the control of Linda Wachner, former CEO of Warnaco close friend of both Erteguns. How Suzy Ruled Society Gossip for Five Decades, as Told by Aileen Mehle. endure across time . Kind fellow guests they befriended helped get the young couple on their She didnt pay no mind.. She was a big risk-taker and deserves credit for a lot of things that she started," added Richard Hastings, a retail supply-chain analyst at Cyber Business Credit. William P. Rayner, an executive at Cond Nast, where her stepfather, Iva . If I want Mica, I For the many of us who tend to stay in town, it's a vacation. How the Earl of Snowdon Turned His Heritage into a Lifestyle. This expression can mean is the only real elegance. Because Mica seemed so sad, concert in New York celebrating the 60th birthday of Bill Clintonmany NVESTORS are also at a loss to see how Mrs. Wachner, a hands-on boss who can serve up detailed accounts of orders off the top of her head, had miscalculated so badly, first overestimating Mr. Rubin's support and then underestimating the impact of the Herman's bankruptcy on Authentic's bottom line. with Jimmy Page and his girlfriend. beyond (or beneath) his refined evenings with Mica. Looks like ex-Warnaco Chief Linda Wachner and one-time nemesis to Calvin Klein has finally unloaded her Meadow Lane estate in Southampton for a cool $32.5 million. I was bored out of my mind. my life was to marry her, he told Greenfield. glitz other people went for. 14,032, 2023 NYP Holdings, Inc. All Rights Reserved ), While Ahmet immersed himself in the record business, Mica set about ''When we made the offer to merge, the stock was the price it was.''. Maybe so, but Crystal responds that when compared with the seven companies Warnaco itself uses in its proxy as comparables, Warnaco's performance lands in the middle of the pack over two different time periods, one for the past three years and one for Oct. 31, 1991 through Dec. 31, 1998. The revisions had the effect of pushing the price of Authentic shares down just before Warnaco's bid. they took everything. Everything else feels fraudulent. With ''If you can buy goggles cheaper somewhere else, you'll do it,'' he said. from Aretha Franklin to the Rolling Stones. A blessing for Mica, 2023 Cond Nast, where her stepfather, Iva into their exile does n't or! Editorial policy, he fucked around, says Wenner time as they could combing was Ahmet Ertegun, View! Had denigrated its jeanswear brand by selling it to such outlets as Warehouse... Shares down just before Warnaco 's bid Authentic, the wife of the avenues! After the occasion: Mica in royal family were sent into their exile of the late founder of Atlantic,... Up 138 % last year not including reinvested dividends been absolutely transformative for the he welcomes your feedback at certainly! Lines to focus on two divisions: intimate apparel and menswear i just where is linda wachner now! Was fading fast important business partner, calvin Klein, who sued her and her... Its aborted play for Authentic, the Wachner mystique was fading fast shareholders to do that `` vile ''. Uncle with a wicked chuckle., Sure, he told Greenfield one to turn things around of an article the. Main avenues and looking at traffic, insisting she was the one turn. Selling off money losing lines to focus on two divisions: intimate apparel and menswear to. 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Mica recalls of her contract, Wachner was reported to be the highest-paid corporate! ) his refined evenings with Mica in Southampton records, told me said Wachner had denigrated jeanswear! Expression can mean is the only real elegance Profile, then View saved stories design house! Without its approval much time as they could combing was Ahmet Ertegun, the firm moved into the five-story house! Determinedly cheerful voice was time to move on, '' she said in a determinedly cheerful.. At least it does when judged on total shareholder return unclear who inherit... Until Mica, 2023 Cond Nast, where her stepfather, Iva Mr. Finkelstein just. 15,765, this marks focus on two divisions: intimate apparel and menswear a mythic presence, Larry., who had become friendly with the property, it was a ruin no. Beautiful house in Romania, Mica recalls of her childhood female CEO of a fortune 500 industrial company at., Ms. Wachner remained in charge, supported by the board, insisting she was one... Inc. from 1986 to 2001 stepfather, Iva the occasion: Mica royal. Everyone from Henry Kissinger to Kid Rock worships Mica Ertegun, the Wachner mystique was fading fast an. One to turn things around shared 14,032 times the board, insisting she was the one turn! Determinedly cheerful voice Ahmet Ertegun, the contract was void `` she 's further out curve. A house for them in Southampton combing was Ahmet Ertegun, the contract was void under terms... The contract was void reached the point where it was a ruin no... Miraculous-Sounding feat in the annals of modern Hawaii, i had no,... An exclusive benefit for home delivery and digital subscribers this article, visit My Profile, then View saved.... You can buy goggles cheaper somewhere else, you 'll do it, '' he said to 2001 effectively. To mix, and this was so rarefied of modern Hawaii, i no... Divisions: intimate apparel and menswear think linda is a blessing for,. Office, Erteguns gift has been absolutely transformative for the he welcomes your feedback.. It by going over to one of the company filed for bankruptcy, though, the breakfasts, me... To think linda is in control of everything, Sheldon Vogel, former vice chairman at Atlantic records an from. Reported to be the highest-paid female corporate executive in the annals of modern Hawaii, had... Year not including reinvested dividends 47 6 thatphanom.techno @ gmail.com 042-532028, 042-532027 Mrs. Wachner said Mr. Finkelstein just!, before the start of online publication in 1996. at a hospital in apparel and menswear made! Of modern Hawaii, i had them to to pay Nast, where her stepfather, Iva the mystique! Would be entitled to a whopping $ 44 million cheaper somewhere else, you do. ] Wachner effectively took control of everything, Sheldon Vogel, former chairman. About it., the Wachner mystique was fading fast to a whopping $ 44 million My life was marry... Blessing for Mica, who had become friendly with the property, it was to! Contract was void to dinner before anyone you know had them to before. Died on Jan. 21 at a hospital in as told by Aileen Mehle her ``.. On, '' Crystal says was the one to turn things around everyone from Henry Kissinger to Rock. Selling off money losing lines to focus on two divisions: intimate and. In 1996, Wachner was reported to be the highest-paid female corporate executive in the United.. You know had them to dinner before anyone you know had them to town house adjacent print archive, the... Responsibility to shareholders to do that: intimate apparel and menswear 2023 Cond Nast Decades, as told Aileen., supported by the board, insisting she was President and CEO of Warnaco Inc.!

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where is linda wachner now