Kathleen Fuld: Shopping in Secret

December 15, 2008 RSS Feed Print
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How does Kathleen Fuld, wife of former Lehman Brother's CEO Richard Fuld—who has been widely criticized for pushing Lehman Brothers into bankruptcy and creating a global financial panic—go about her holiday shopping? With discretion, says The Daily Beast.

"Last week, Kathleen Fuld stopped by the Hermès boutique on Manhattan's Madison Avenue to buy some holiday gifts. As she paid for her purchases, she vetoed the store's signature orange bag and asked for a plain white one instead.

It's become a common request, a Hermès employee told The Daily Beast. Sales associates at this temple of good taste have gotten used to passing out plain white shopping bags to clients eager to hide their $10,000 Birkin habits in the current economic environment."

The Daily Beast reports that Mrs. Fuld has been a regular client since the Lehman Brothers bankruptcy. She visited the boutique once a week and spent $5,000 or $10,000 each time.

Tags:
Lehman Brothers,
holidays,
executives,
shopping

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In the late 1990s I worked a post funeral buffet for a teacher of Dick Fuld. Fuld personally asked the wait staff if there was anything they needed, if all was ok with the job, and was unfailingly courteous, something conspicuously absent from many of the new York elite.

His wife was similarly courteous and kind, chatting with the waitstaff and getting her boys to help us out by collecting empty glasses and plates. After the gig they thanked us all individually and asked if we needed transport back to the city.

In 7 years on the cater waiter circuit in NY, they are the couple that stand out head and shoulders above almost any other people whose functions I worked at, primarily for their ordinariness and humility. This is my experience of Dick and Kathleen Fuld.

Rich 4:32PM May 28, 2011

I know for first hand that this story is a lie. It is created by some small person who wanted to feel larger by making up something about famous person to get attention and feel important. I am amazed how much publicity such untrue story created.

First hand of NY 1:42AM February 02, 2009

Dick and his staff also proved to be arrogant and... wrong when they thought it was the right time to double the firm's exposure to subprime assets whilst the whole Street was running away from it. Too bad nobody helped LB to survive, I guess one of these banks had to pay. At the end of the day the boss is responsible for his mistakes. He knew the risk, he ignored it, he did not take the decisions he should have taken, i.e. selling all or part of the business right on time. No regrets, no compassion for him. However, his wife can spend what she wants where she wants, it's their business, not mine, and I just don't care. I however do care about the tough times we've been through since 9/15 thanks to this guy and the old crew beside him who all thought they were smarter than the market.

J'ai dit.

David of NV 6:07PM January 07, 2009

Luxe Life

Luxury is no longer the sole province of the elite. Upscale goods and services now target a much broader market. We take a look at the luxe life, from fine wines and cars to high-end real estate and wealth management.

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