Guess who's gonna get through the recession just fine? The New York Times soothes the fears of a very small number of people: "Despite Tough Times, Ultrarich Keep Spending."
Seth Semilof, the publisher of Haute Living, a luxury magazine, said that luxury car dealerships that advertise with him are pushing Bentleys and Rolls-Royces at the expense of less extravagant cars like the BMW 5 Series.
"If you look at the $20 million-plus market, it's still strong as ever," Mr. Semilof said.
And remember Jimmy Cayne? The chairman of Bear Stearns who paid $25 mil for a condo in the Plaza Hotel right before his company collapsed? He's invited to drown some sorrows at a May 10 party at the Plaza where entertainment will include a "dozen female string musicians made up to look like statues and clothed in dresses of fresh flowers, like roses and gardenias. There will be caviar and Cognac bars, as well as a buffet designed to visually replicate 17th-century Dutch paintings from the recent Metropolitan Museum of Art exhibit, 'The Age of Rembrandt.' "
Wonder if they'll depict one of the old master's beggar etchings?