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Michelle Obama Boosts J. Crew
Tweet Share on Facebook April 3, 2009 Comment (10)During a breakfast this week with Prime Minister Gordon and his wife, Sarah, the First Lady of Style endorsed J. Crew by wearing the retailer's sparkly cream cardigan and mint-green pencil skirt. Michelle Obama is known for jettisoning high-priced designer labels in favor of more affordable clothing and has been seen wearing the preppy J. Crew label before.
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Madoff: Feds Seize Palm Beach Mansion, Yacht
Tweet Share on Facebook April 2, 2009 Comment (2)With miles of palm-lined beaches, lush gardens, and breezy tropical climates, Palm Beach, Fla., is known for its small-town charm and high quality of life. But in recent months, this normally serene resort community—with a year-round population under 10,000 saturated with the affluent baby boomer set—has been rocked by the Bernie Madoff investment scandal. The disgraced financier, 70, sought many of his investors in this town; several local families reportedly lost more than $100 million each.
In an attempt to recoup losses to compensate cheated investors, U.S. marshals yesterday seized two of Madoff's boats—including a yacht worth $2.2 million—and an unoccupied 8,753-square-foot, five-bedroom mansion in Palm Beach. Authorities changed the locks and took inventory of the property, valued at $9.4 million. The seizure hardly puts a dent in any aid to swindled investors.
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Obama Gives Queen Elizabeth II an iPod
Tweet Share on Facebook April 1, 2009 Comment (765)Call him a digital man in an analog world.
During a private meeting today with Queen Elizabeth II and her husband Prince Philip at Buckingham Palace, President Obama and First Lady Michelle Obama exchanged gifts. According to the BBC, Obama gave the Queen an iPod, containing footage of her state visit to the United States in May 2007. In return, the Queen gave the president a silver-framed photograph of herself and her husband. It's the official picture she gives all visiting dignitaries.
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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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