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Dallas Mavericks Owner Mark Cuban Fined for Twitter Comments
Tweet Share on Facebook March 30, 2009 Comment (76)The NBA's true maverick has been fined $25,000 for his recent comments on Twitter. Dallas Mavericks owner Mark Cuban recently used the social networking tool to voice his anger at league officiating after Friday's loss to the Denver Nuggets. Cuban's "tweets" referred to an altercation between Nuggets player J. R. Smith and Mavs player Antoine Wright.
First post (7:25 p . m . , March 27):
how do they not call a tech on JR Smith for coming off the bench to taunt our player on the ground ?
Second post (10 minutes later):
scary part of that play: Same crew chief from game in Denver where they missed call - last play of the game & 1st JRSmith/Wright issue.
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Aaron Spelling's $150 Million House for Sale
Tweet Share on Facebook March 27, 2009 Comment (13)If you want to burn a measly nine figures on a new home, now's your chance. Candy Spelling, widow of Aaron Spelling, the legendary TV producer, is putting her Los Angeles estate on the market for $150 million—the most expensive home for sale in the United States.
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François-Henri Pinault on Sustainable Luxury
Tweet Share on Facebook March 25, 2009 Comment (2)"Sustainability" and "luxury" are no longer mutually exclusive. Consumers not only seek enduring value; they want to know how the product is made. Were animals hurt in the process? Are the fabrics organic? Is this jewelry recycled? These are just some of the questions consumers are asking as they increasingly look for brands that embrace environmental and social issues.
François-Henri Pinault, chairman and CEO of PPR—home to luxury brands such as Gucci, Yves Saint Laurent, Bottega Veneta, and Alexander McQueen—recently spoke at the 2009 IHT Sustainable Luxury Conference held in New Delhi. Here's some of what he had to say about the sustainable luxury movement:
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Williams-Sonoma: Profits Plunge 90 Percent
Tweet Share on Facebook March 24, 2009 Comment (1)With the housing slump and tight credit markets reducing demand for home furnishings, high-end retailer Williams-Sonoma Inc. said its fourth-quarter profit plunged 90 percent.
The San Francisco-based company, which operates retail chains Williams-Sonoma, Pottery Barn, and West Elm, reported fiscal fourth-quarter net income of $12.2 million, or 12 cents per share, down from $124.6 million, or $1.15 per share, a year earlier.
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JPMorgan Dismisses Jet Scandal Reports
Tweet Share on Facebook March 23, 2009 Comment (2)Last week's AIG bonus-gate fueled the populist fire, and today's jet scandal involving JPMorgan Chase & Co. is inarguably fanning the flames. ABC reported this morning that JPMorgan—beneficiary of $25 billion in TARP funds—plans to spend $138 million for two new luxury corporate jets and a new aircraft hangar. But the investment bank dismisses the report and denies any plans to purchase new jets or renovate the hangar. That is, until after it has paid off the bailout money.
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Jaguar, Buick: Rated Most Dependable by J.D. Power
Tweet Share on Facebook March 19, 2009 Comment (2)With consumers increasingly tightening their purse strings and putting off big-ticket purchases, car owners are electing to keep their current vehicles instead of buying brand new. This means that a car's reliability and durability are more critical than ever.
J.D. Power and Associates' influential "2009 Vehicle Dependability Study Results," released today, focuses on problems experienced by owners of 2006 model-year vehicles. The study provides information gathered from over 46,000 original owners and covers a total of 202 problems, broken out into eight categories: exterior; the driving experience; features, controls, and displays; audio, entertainment, and navigation; seats; HVAC; interior; and engine and transmission.
Who topped the list? Luxury carmaker Jaguar tied Buick for the No. 1 spot, ousting Lexus, now in the No. 2 spot, followed by Toyota, Mercury, Infiniti, and Acura. Suzuki, Volkswagen, and Land Rover rounded out the bottom three brands on the list.
"Making improvements in long-term quality not only satisfies customers who are holding on to their vehicles longer, but it will also influence their decisions when they return to the new-vehicle market or are seeking to purchase a preowned vehicle," David Sargent, vice president of automotive research at J.D. Power, said to the Detroit News.
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AIG Bonus Recipients' Names Revealed
Tweet Share on Facebook March 18, 2009 Comment (21)Pitchfork populism is all the rage these days. Take the Nationwide Chicago Tea Party protests that occurred late last month or next month's tedious planning for an even larger antistimulus movement, also known as the Nationwide Tax Day Tea Party. Discourse that claims to support "the people" over "the elites" has reached a high-pitched level as details about the $165 million payout for top executives at the ailing AIG have emerged over the past few days. And for many Americans—whose thoughts of their tax dollars falling into the hands of AIG's top executives have them downright furious—there's now something else to bite into: the names of some of the executives in the financial-products unit who accepted the bonuses. According to the New York Post , they all happen to live in Connecticut!
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Feds Seek to Seize Ruth Madoff's Assets
Tweet Share on Facebook March 16, 2009 Comment (3)Federal prosecutors want disgraced financier Bernard Madoff and his wife to forfeit more than $90 million worth of assets, including homes, boats, cars, and securities. A filing in a U.S. district court in New York on Sunday outlined several fixed and liquid assets ordered seized by prosecutors:
- $17 million in cash
- $45 million in municipal bonds at Cohmad Securities Corp.
- $2.6 million in jewelry
- $39,000 Steinway piano
- $65,000 in silverware
- $11 million home in Palm Beach, Fla.
- $7 million Upper East Side penthouse apartment
- $3 million home in Montauk, N.Y.
- $1 million villa in Cap d'Antibes in southeastern France
- $10 million for three boats
- $7 million Leopard yacht
- $2.2 million fishing boat in Florida
- Four cars, including a BMW and two Mercedes
With the exception of the Long Island home, all of the properties—as well as the cash and securities—are solely in Ruth Madoff's name.
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Dockers Unveils Shakable iPhone Ad
Tweet Share on Facebook March 12, 2009 Comment (1)Everyone talks about the iPhone's ridiculously cool applications—iBlackjack, Merriam-Webster search, Tic-Tac-Toe Squirrels vs. Chipmunks!—but now there's a new marketing experience that's sure to be the latest iPhone craze. Using the phone's popular motion-detection feature, apparel maker Dockers San Francisco believes it has created the first "shakable," motion-sensitive ad.
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Neiman Marcus Posts Quarterly Loss
Tweet Share on Facebook March 11, 2009 CommentLuxury retailer Neiman Marcus posted a net loss of $509.2 million for the 13 weeks that ended January 31—compared with a profit of $44.3 million in the same period last year—reflecting a holiday season when some of the wealthiest consumers reined in spending.
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