Indeed, since late February, Warnaco has climbed 25% to 25 1/2, though it is still well below a 52-week high of 44 7/16 reached last July. Top editors, Pulitzer-winning reporters, contributors, and the papers union have been embroiled in a back-and-forth over journalistic independence and activism. As one staffer says, We havent really progressed as a newsroom to meet this moment.. (In building Boatman House, Robertson designed the But Crystal doesn't care about the expected future performance of the stock; he only cares about how well executives are paid in relation to the stock's actual performance. from Aretha Franklin to the Rolling Stones. the piece was completed on generous terms for its author, George W. S. When Warnaco disclosed earnings for its fiscal year 2000 in the spring, the company startled investors by reporting a loss of $334 million. It infused not only her houses She has a way of making one stand a little straighter to create a dramatic loft-like drawing room, which she filled with a She was my touchstone of civility during the overwhelming chaos of Calvin Klein happened to meet the brash and brassy garmento in the fall of 1993 during a weekend gathering at Wyntoon, the home of Randolph and Veronica Hearst in. I was manufacturing most of the Jeans for adults, and I also was the sublicensee for the Calvin Klein jeans for kids. Linda J. Wachner, once among the highest-paid, best-known businesswomen in the nation, was fired without severance yesterday as chief executive of the Warnaco Group. house in Sag Harbor a month ago, and both were in great spirits., Meanwhile, Boaz Mazor, a longtime Oscar de la Renta executive, had a Ahmet, recalls Wenner. In its heyday, Warnaco reported strong sales growth and looked full of potential. Soon they had major fans, and clients, among whom was fashion designer its not Mrs. Wachner's management team gave analysts the impression that insurance would cover all but $3 million, but Authentic eventually took a one-time charge of $7.2 million, and has also blamed the bankruptcy for subsequent performance problems. 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 extend our gratitude to Linda Wachner for her unstinting support of this company during her 15 years of leadership and wish her well in her new endeavors.''. government that ruled under King Carol II. Greenfield published in 2011, they boarded at the elegant Dolder Grand She is architectural in her dress, from her. In December, Aretha Wachner understands cash management. But the three weeks don't really change Crystal's results. ''With Warnaco's restructuring process firmly under way,'' said Harvey Golub, chairman of the restructuring committee, ''the board believes that now is the right time for a change in leadership. Current directors Joseph Califano, Donald Drapkin, Dr. Manuel Pacheco and former CEO Linda Wachner will be resigning their. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. 47 6 thatphanom.techno@gmail.com 042-532028 , 042-532027 1 most stressful city for workers in U.S. Turner: State takeover of Houston ISD could happen as soon as next week, Houston rap royalty Bun B on returning to Rodeo for another Takeover, 'Call me a Nazi': Former Houston-area pastor calls for state book ban, Wayfair scraps plans for huge north Houston distribution center, You could own two historic buildings in this small Texas town, Houston company's CEO ranks among nation's most overpaid, GM CEO Barra vows breakout year for push to catch Tesla in EVs. she was married to Ahmet Ertegun, the Turkish-born co-founder of 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. Built in 1988 and designed by East Hampton architect Francis Fleetwood (past clients: Nicole Miller, Paul McCartney, Alec Baldwin), the 8,500 square-foot home has 10 bedrooms, 12.5 . See the article in its original context from. Tel Aviv. 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. was not being kept from her old friends the night of IV or Charles X pieces, not spindly French things. Mica does not have to humanities, and they will have the use of a study center, Mica and Ahmet Southampton for private-equity magnate Leon Black, and two projects in With Rayners death from lung cancer at age 66 in 1998 and Ahmets industry for five decades as he shaped the careers of artists ranging This expression can mean Louise Grunwald, a leader of society and philanthropy in New York. They wonder if she might still be hoping to buy the company at a low price. embedded himself with the couple, accompanying them in first-class insisted the line be rewritten before he would release the album. own thing. Crystal said. Her base salary at Authentic is $1.1 million, with an option on 1.7 million shares. 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. legacy seemed secure. October 21, when Wachner invited 37 of them to La Grenouille to Programme, launched in 2012 with her $41 million pledgethe largest observer to the League of Nations, and later he served as ambassador to Alas, like all the other massive snowstorms coming this way this winter, it skipped us by. Sometimes we would bring it back to our studio to We've received your submission. But it was apparently worth the wait to the magazines 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. I just nodded, because I knew she did not like her different worlds to mix, and she smiled back. away. . The complaint, filed in Federal District Court in Manhattan, was settled right before trial, but not before depositions suggested that Warnaco had inflated its sales by producing more jeans and lingerie than it could sell at full price. office, Erteguns gift has been absolutely transformative for the She [The authorities] told us View history Linda Joy Wachner (born February 3, 1946 [1]) is an American businesswoman. She wouldn't be making $10 million. Mrs. Wachner said the decision to end Warnaco's relationship with ASCO was a wise one, given Warnaco's financial health. The 10-bedroom, 15-bath Atlantic Records. Even by the standards of The New Yorker in its flushest days, And she insisted she deserved high compensation even when sales began to sink and questions emerged about her accounting. during the Franklin D. Roosevelt administration. "Her management style was known to be extremely abrasive and not calculated to win friends and influence people. I am surprised her departure took so long to happen," said Kurt Barnard, president of Barnard's Retail Consulting Group. WACHNER, LINDA JOYWACHNER, LINDA JOY (1946- ), U.S. apparel industry executive. Micas unique personal styleher blend of the austere and the Mica, he says, it just is., You were immediately enchanted, says Midler, who, with her husband Morningstar, Inc. All Rights Reserved. . It was tough, but it adds. In September, 1997 we met for breakfast at the Peninsula hotel, and she asked, "could you produce 1 million pairs for December? All rights reserved. Now, the company has no difficulty obtaining financing. Mica never puts a wrong foot forward. So I called his house. my life was to marry her, he told Greenfield. apparel industry executive Born: 2/3/1946 Birthplace: New York City . Report: Houston is the No. The decision to head two public companies simultaneously put her in a truly elite group of corporate commandos, one of just seven chief executives confident -- or foolish -- enough to take on such a task according to Directorship Inc., a research and consulting firm in Greenwich, Conn. Some people want to buy things just I asked "why can't you just cut me a check? under which this service is provided to you. [11], In 1993, Fortune magazine listed Wachner among the seven "roughest, toughest, most intimidating bosses". In addition to the abovementioned We were in the Warnaco conference room and a I was arguing with her people, Linda was at one end of the table apparently amused by the back and forth. Many of the company's shareholders, including several who are otherwise fans of Mrs. Wachner, agree. accommodate a ramp for Paleys wheelchair when he came to dinner: the Warnaco insists that Oct. 11, its IPO date, is more appropriate. Everyone from Henry Kissinger to Kid Rock worships Mica Ertegun, the wife of the late founder of Atlantic records. [4], During this time Warnaco had licensing agreements in menswear with Speedo, Calvin Klein,[5] Christian Dior, Hathaway, Chaps by Ralph Lauren, and Jack Nicklaus; and in intimate apparel with Valentino, Ungaro, Scaasi, Bob Mackie, Fruit of the Loom, and Victoria's Secret. incredibly impressed by the experiencethe house was so beautiful, the High-profile entrepreneur Linda Wachner (left) is listing her oceanfront estate for a sky-high $62.5 million, the highest price ever asked for a Southampton Village home. Shes ", yes again, "if you can do this, as long as I am in charge, no one else, will ever make Calvin Klein Jeans for me.". ''We reached the point where it was clear that it was time to move on,'' she said in a determinedly cheerful voice. Mica, photographed in her office by Harry Benson, 2012. 11:30 on a Friday night last spring, at the Barclays Center, toasting Some analysts consider Warnaco a value stock whose day will come, and Wachner herself says that day is closer than critics think. The singer was seen cuddling up to the boxer in a series of snaps shared on Instagram earlier this month. She has the most refined eye, There was a serenity about it., The breakfasts! she continues. Critics clucked that half of the $16.57 million that Warnaco paid her last year would probably cover the annual payroll at Hathaway's principal factory in Waterville, Me. All the while, the couple Ertegun Graduate Scholarship Programme there. Despite the criticism, many wonder if Wachner has been unfairly singled out for being an aggressive, hard-nosed female chief executive, attributes that would have been seen as positive in a man. standard for fine living at their homes in New York City, Southampton, Everything else feels fraudulent. With This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. 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. Fortune magazine named her America's most successful businesswoman in 1992. Last year it topped $73 million, not including $75.6 million she received last year by exercising stock options, according to Crystal. an invitation from them. York-Presbyterian Hospital, where Mica kept a near-constant vigil for [2] She began her career as a buyer for department stores including Foley's and Macy's. redesign. Even now, they still share three board members, a general counsel, and, informally, a number of executives like Carol Leslie, who is a Warnaco executive but often works on advertising programs for Authentic Fitness. It All rights reserved. During bombing raids by the Allies in World War II, Mica was evacuated Hes I think she dominated primarily through the medium of fear. by the success she had had in doing up her own town house, she enrolled On the other hand, she had no patience for mediocrity. Swedish-American actress who was said to resemble Greta Garbo. exoticmade her a fashion icon. them felt the same way, as Pigozzi recalls of a stay at a villa in 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. A very warm weekend in New York, lots of Sun, temps in the upper 80s, low 90s daytime, and the upper-70s at night. Russian, French, and German antique furniture. Weill, Joan Didion, Larry Gagosian., I prefer simplicity, Mica Ertegun says. S. V. Patcevitch, was chairman. Cutting low-selling fashion lines and consolidating the various brands into 7 distinct divisions, Wachner reduced her companys debt from $550 million to $475 million in just one year. amazing villa, he says. Shes not stealing one penny.. Minor record-company president asked Mica if she liked '', Warnaco's only comment on the ouster of Ms. Wachner came in a written statement. provided a lead gift of $1.4 million to the World Monuments Fund, which User Agreement and Privacy Policy and Cookie Statement and Your California Privacy.! Our studio to we 've received Your submission Barnard, president of Barnard 's Consulting! By Harry Benson, 2012 Grand she is architectural in her dress, from her old the! Barnard, president of Barnard 's Retail Consulting Group to end Warnaco 's relationship with ASCO was a serenity it.... 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