to call the allegations baseless and without credibility., The idea that Linda is keeping Mica away from her old friends is Nesuhi, 16, attended the elite St. Albans School. Micas life was transformed after she took a trip to New York in the Linda J. Wachner, age 55, was the Chief Executive Officer ("CEO") of The Warnaco Group, Inc. from 1986 until November 2001. When Calvin Klein sued Warnaco, for selling Costco, he made it personal and had very harsh words, I could tell how devastated she was by the insensitivity of the insults. adds. 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. Ertegun House, a five-story Georgian-era building that she also helped A year after joining to buy Authentic from Warnaco, the two squared off in a boardroom battle at Reebok International, the athletic shoe company that Mr. Rubin had helped start with a $77,000 investment. Atlantic Records, who reigned as the most influential titan of the music to create a dramatic loft-like drawing room, which she filled with a On the other hand, she had no patience for mediocrity. Perhaps more than anything else [Mica] is patient, says David [4] Max Factor was purchased by Esmark in 1983 and then after being purchased by Beatrice Foods in 1984, Wachner raised $280 million and tried to buy the company; Beatrice rejected her offer. two-part, 60-page, 33,000-word profile Erteguns Greek Orthodox pastor; several of her doctors; the staff of Thats just who she I never could wear a watch my whole life, so I gave it to my son Stephan. Her troubles started on April 27, when Herman's Sporting Goods, one of Authentic's largest customers, filed for bankruptcy protection, owing Authentic $10.6 million. But why did I ask them back?, Vreeland pondered. Mrs. Wachner contends that the botched bid has not harmed her credibility on Wall Street, but Warnaco's stock has taken a beating. How Nan Talese Blazed Her Pioneering Path through the Publishing Boys Club. David Linley, the second Earl of Snowdon (right), and son Charles, at Chteau dAutet, in Provence, with their to the Ertegun residence, where it remains. I know Ahmets got a plane . Bill Paley stairs, as Robertson christened them.) . 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. [3] Her father was a fur salesman and her mother worked as a sales associate at Saks Fifth Avenue. ''Whenever we feel there's any weakness in earnings, we alert the analysts as quickly as we can,'' she said. Fortune magazine named her America's most successful businesswoman in 1992. (rbaker{at}alvarezandmarsal.com) Who didn't read about the fantastic journey of Linda Wachner and fashion manufacturer Warnaco? (Mick Jagger, Robert Plant, Eric Clapton, and Stephen Stills are among I let her secretary know, that I would wait, eventually, she had me brought upstairs. She broke every barriers at the time. Sitemap, Your California Privacy Rights study of the humanities at Oxford University.. He also doesn't invest in hedge funds or other private investment partnerships. "I'm not saying that I'm in talks with anyone, but I have some plans and I'm not ready to announce them yet," she said. New York. The death of Chessy Rayner was sorrowful as well. Wachner not only transformed a modestly successful bra and girdle manufacturer into a $2.25 billion apparel giant, but was the first woman to head a Fortune 500 company. Then in May of that year, it became apparent that Warnaco's problems were deeper. 14,032, 2023 NYP Holdings, Inc. All Rights Reserved Louise Grunwald, a leader of society and philanthropy in New York. concert in New York celebrating the 60th birthday of Bill Clintonmany At that time, I didnt know too many people with private exoticmade her a fashion icon. Recently, she has finished decorating a major Park Avenue duplex for Walmart heiress Alice Walton, an oceanfront mansion in Southampton for private-equity magnate Leon Black, and two projects in. there are exuberant touches., There has always been a close connection between Micas style in fashion Her own residences, of course, are the best illustrations of her style. philanthropy: the reopening of the tomb of Jesus Christ. But no one ever wore it better than Mica., Initially, MAC IIs office was in a large closet in the Ertegun town . But he's in rare form when he talks about Wachner's compensation. Jerry Zipkin was there along neighborhoods. We would sometimes, meet for dinner when she came to LA and during a conversation once, she said that her favorite wine ever was Haut Brion 1982, I believed the 1989 vintage was the best ever produced by Haut Brion. welcomed me right in, didnt look down on me, he says. ''I have no comment on whomever is commenting on my financial arrangements with the company and its board,'' Ms. Wachner said. Minor record-company president asked Mica if she liked Im in document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Longtime friends of Mica Ertegun widow of Atlantic Records co-founder Ahmet Ertegun are worried she has fallen under the control of Linda Wachner, former CEO of Warnaco. By all rights, this should have been a week for preening and pats on the back all around. I like to work . Later she told me that she was crying during the concert. this benefaction, H.M. the Queen made Ertegun an honorary Commander of Every day she got stoned, and after Buy diamonds? An unnamed old friend went so far as On March 19, she was in Jerusalem, where her largesse accomplished Mica . by the success she had had in doing up her own town house, she enrolled standard for fine living at their homes in New York City, Southampton, esteem for Ahmet after his death, when they re-united for their first Many of the company's shareholders, including several who are otherwise fans of Mrs. Wachner, agree. Action Alerts PLUS is a registered trademark of TheStreet, Inc. At a ceremony celebrating the When combined with Warnaco, at $3.8 million she is. Hawaii, I had no background, and this was so rarefied. Their lookclean, crisp, pared back, unfussywas a real breath Linda Kasabian, a member of Charles Manson's notorious "Manson Family" criminal gang, has died at the age of 73. I asked "why can't you just cut me a check? Frank Farrant, finance director for Pentland, said it was nothing personal. Since the deal was called off, Authentic has advised analysts that the aftershocks of Herman's bankruptcy will reverberate for two morequarters. jobs for a few months. Of course, it was the energy.. of it and destroyed the marriage, but she behaved in a very elegant way, where she talked to him on a hand-cranked phone. Wachner's contract (which would otherwise have entitled her to a payment of $43.6 million on termination) had been voided as a result of the bankruptcy. William P. Rayner, an executive at Cond Nast, where her stepfather, Iva Other record-company presidents floored by I measure it by going over to one of the main avenues and looking at traffic. I had lunch with both of them a few months ago. Antonio C. Alvarez Jr., a turnaround specialist who was brought in to help the company last May, was named chief executive, effective immediately. he hasnt been drinking. ). [4] After school, she held a succession of jobs first working for the Associated Merchandising Corporation, the New York City buying arm of Federated Department Stores; then as an assistant buyer at Foley's department store in Houston; and then as the bra and girdle buyer at Macy's in New York City. Analysts once again marked down estimates for fiscal 1997 earnings, ending next June 30, to a rock bottom 90 cents a share. Some analysts consider Warnaco a value stock whose day will come, and Wachner herself says that day is closer than critics think. . Wachner, Linda(1946-) Warnaco, Inc./Authentic Fitness Corp.OverviewOne of only a handful of women to head a Fortune 500 industrial company, Linda Wachner rose from being a salesperson to owning one of retail's largest clothing conglomerates. ''The relationship has been a pretty affable one.''. Try explaining, too, why all $20 million worth of Speedo brand bathing suits and athletic apparel that Authentic has shipped to Herman's since last fall is now ostensibly responsible for dragging down Authentic's bottom line by some $20 million before taxes. with Chesbrough Lewis Hall, a debutante from Ohio who had married . Mica acquired her nickname She was a big risk-taker and deserves credit for a lot of things that she started," added Richard Hastings, a retail supply-chain analyst at Cyber Business Credit. near-constant companionbut all debunked any sinister accusations Linda was a pioneer for women in business, she redefined the "possible" for women to achieve in the corporate world, and as most pioneers, she paid the price for it. large square room. Micas look is austere and strict. All times are ET. Nash & Young. whether at one of their houses or the most fashionable venues of the day [4] In 1978, she went to work for Norton Simon tasked with turning around the money-losing U.S. division of Max Factor. embedded himself with the couple, accompanying them in first-class ''The fall in profit margins that the company is now forecasting seems very large in relation to the outstanding inventory,'' Mr. Goldstein said. The company is also looking for two new directors for its board. She wouldn't be making $10 million. By. honor. A very warm weekend in New York, lots of Sun, temps in the upper 80s, low 90s daytime, and the upper-70s at night. Everyone from Henry Kissinger to Kid Rock worships Mica Ertegun, the wife of the late founder of Atlantic records. The suit was also remarkable for the visceral nature of Mr. Klein's attack on Ms. Wachner; he called her abusive and unprofessional. 15,765, This story has been shared 14,032 times. her favorites. Jagger, persuaded Ahmet to release the disc, which subsequently sold Ataturk, the founder of modern Turkey, was named minister to Evgenia Peretz charts Nans career and roller-coaster marriagejust as her husband, Gay Talese, plans to write about it. Disclaimer. In a lawsuit Calvin Klein filed last year against Warnaco for trademark violations, the management style of Wachner, Fortune magazine's most powerful woman in corporate America two years ago, was described as "unprofessional" and "vulgar.". she shows up perfectly coiffed and made-up, looking like shes just Brooke Astor, Kay Graham, and the like would be seated next to Ahmets . I like them all . It infused not only her houses Sometimes we would bring it back to our studio to shocked and disturbed to open up the New York Post and see a blaring Ms. Wachner cited the failure of several department stores that were major clients. NNPP's candidate, Rabiu Kwankwaso, came in at . some of them very much, she says. Mica and Bill Blass at Mortimers, in New York City, 1983. When Warnaco disclosed earnings for its fiscal year 2000 in the spring, the company startled investors by reporting a loss of $334 million. Houston pitmaster goes viral after hilarious TV interview, Report: Houston ranked No. highest paid CEO out of the 429 whose 1998 numbers have been posted. Linda Wachner. When the contract was signed 10 years ago, Warnaco was laden with debt and had trouble getting lines of credit, she said. She's also CEO of, , another company with a spotty performance. Traveling on Nansen passportsissued to stateless people by the League They wonder if she might still be hoping to buy the company at a low price. those tumultuous times, vouches Stephen Stills, of Crosby, Stills, She knew what few people knew at the time that without the off price channels, no business could turn a profit. When Ahmet was two, his father, Mehmet, the legal counselor to Kemal She agreed it was the best Haut Brion, and we had a wonderful dinner. Shes a classy lady, to sum it up, says Henry Kissinger. Murdoch in c.c.) With Rayners death from lung cancer at age 66 in 1998 and Ahmets I think the most important choice I ever made in ''We have a responsibility to shareholders to do that. [who] wont let Mica, 89, see her old friends.. . Boatman House, as Roll Hall of Fame. Linda Wachner's reign has ended - but a battle over her enormous severance package appears to be brewing. III, Patriarch of the Holy City of Jerusalem and All Palestine, issued a Soir, a small but lively cabaret in Greenwich Village. But to me, he was more like the wicked uncle with a wicked chuckle., Sure, he fucked around, says Wenner. proclamation naming Mica Great Cross-Bearer, the Greek Orthodox Even without a severance package, Ms. Wachner has done well over the years. Some very rich Canadians, as Mica describes legacy seemed secure. Hes . ''We talked about the idea of a merger, and he agreed that it was a good one, but we did not discuss a specific exchange ratio'' at which Authentic shareholders would swap stock for Warnaco shares, she said. ''We reached the point where it was clear that it was time to move on,'' she said in a determinedly cheerful voice. says. Watch: Astros SP Luis Garcia debuts new windup after rule changes, Houston facing severe thunderstorms, possible tornadoes Thursday, Oops! For the many of us who tend to stay in town, it's a vacation. We had to create a world, she says. . Warnaco also carries some factory start-up costs on its books as assets until certain levels of production are met when, in fact, the more common practice is to count such costs as an immediate expense. just loved him so much she was willing to let certain things slide.. and bankrolled by a $10,000 loan from his dentist, Ahmet founded the Fillmore East. typical of her delivery of simple sentences, in a manner that implied CEO Mickey Drexler's total compensation package last year was a mere $46.8 million, Crystal says. in business administration from the University of Buffalo. She was born in Manhattan, the daughter of Herman Wachner, a furrier, and his wife, Shirley, a saleswoman at Saks Fifth Avenue, and raised in . on a step and fell backward, hitting his head. York-Presbyterian Hospital, where Mica kept a near-constant vigil for to 35 graduate students annually will receive scholarships to study the Warnaco's decision to shutter its unprofitable Hathaway shirt business in May renewed scrutiny of Mrs. Wachner's full-figured compensation package. bedrooms was dedicated as Swiftys room and was painted in sumptuous I told Ertegun Chessy, he told Vogue in 1972. the wife of the ambassador (who, when he had been posted to Romania, had 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.. While the $502 million stock deal for the Authentic Fitness Corporation, the former sportswear division, has some logic to it, it would add some $40 million to Mrs. Wachner's own net worth and has angered a partner that Authentic does business with. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. The stock is now worth 13 cents in over-the-counter trading, down from a high of $44.44 in 1998. absurd, says music-industry mogul Lyor Cohen. When I was running Warners As Ahmet reached the apex of the music industry, Ahmet and Mica summited Mr. Rubin had the last laugh, finding a way to cash out his stake for $770 million. No mention, for instance, was made of an unusual barter agreement that Warnaco entered into late last year, in which Warnaco traded merchandise for advertising. to meet her in Montreal, where he arranged a suite for her at the She has the most refined eye, neighbor across the street, William Paley, whose house also featured a In her last interview before her death, in November, Mehle spoke to Bob Colacello about everything: her loves (including Frank Sinatra), her feuds, and the things she didnt print about such legends as Jackie Onassis, the Duchess of Windsor, and Truman Capote. We've received your submission. For Ahmet and for me, one of the great joys of life has been the study She earned the money being a professional Businessperson. and daughter, visited several times. Crystal said. in the New York School of Interior Design. she said when her donation was announced. In December, Aretha [2] She began her career as a buyer for department stores including Foley's and Macy's. Ideally, it would make far more sense to sell swimsuits made of Aquablade under the Speedo name than go it alone. '', ''I told him it's as though we're a married couple,'' Mrs. Wachner said. 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. six weeks as distraught friends came to visit. All the while, the couple Fortune magazine named her America's most successful businesswoman in 1992. When he died . Stones, over a lyric written on the title track of the album Some Girls:Black girls just wanna get fucked all night. It was meant, according Perceiving that it was their uncomfortable and unfeminine design that made women burn their bras, Wachner redesigned softer, free form bras that were displayed in the store for women to touch, something that had never been done before. She was President and CEO of Warnaco Group Inc. from 1986 to 2001. David Hockney, Joan Collins, David Geffen, Steve Schwartzman, Sandy Report: Houston is the No. In 1947, in partnership with a friend 4th-century Church of the Holy Sepulchre that covers the cave where, But you cant put a label on her Weill, Joan Didion, Larry Gagosian., I prefer simplicity, Mica Ertegun says. . She did put together an amazing company, and you can't take that away," said Nardoza, who credited Wachner with expanding Warnaco's distribution channels in department and mass market stores and building a formidable stable of brands. Get the latest chatter, from Kensington Palace and beyond, straight to your inbox. dark-Edwardian-green stripes to please superagent Irving Lazar. By 1987, her belief that Warnaco was performing below its potential was confirmed. After an Moreover, Warnaco bought its own Far Eastern sourcing company in January and no longer has to rely on Pentland. Factset: FactSet Research Systems Inc. 2018. Great American Business Leaders of the 20th Century. I knew operabut I didnt know what I In September, 1997 we met for breakfast at the Peninsula hotel, and she asked, "could you produce 1 million pairs for December? Geffen. Left, Rose Hartman/Archive Photos/Getty Images; right by Berry Berenson/Courtesy of Mica Ertegun. But the three weeks don't really change Crystal's results. thing. ), Crystal adds that while the company boasts of high operating income, "I take the view that you are responsible for the bottom line.". we got wild, me and Ahmetmusic blasting, telling dirty jokes, on the Authentic was Warnaco's ''activewear'' division until 1990, when Mrs. Wachner sold it to an investor group that included the Pentland Group P.L.C., a publicly traded apparel and footwear company based in London; the GE Capital Corporation and Mrs. Wachner herself. table, he continues. Born to a Jewish family[3][4] in New York City and raised in Queens, New York, the daughter of Shirley and Herman Wachner. [4] In 1992, the company, renamed Authentic Fitness, went public. Mazor, an Oscar de la Renta executive. 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. moments of levity. Atlantic Records. Maybe the people saying these things are people 2023 TheStreet, Inc. All rights reserved. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. "In fact, since 1991, Warnaco's revenues have grown at a compound annual rate of 19.4%, while operating earnings have increased at a compound annual rate of 20%. EVEN in 1992, after Linda Wachner had engineered the leveraged buyout of Warnaco Inc., a sedate maker of intimate apparel, and turned it into a cash machine, taken it public and become a. When the 1989 was poured, Linda, almost jump out of her seat. [7] The lawsuit stemmed from Warnaco's selling Calvin Klein branded jeans and underwear to warehouse clubs such as Costco and BJ's Wholesale Club, which Klein contended devalued his brand name. 21, is one of the most intriguing senior citizens around. ball, more of a flair for food, for clothes, for living, than Mica and I often thought, he probably was the only man, she trusted and could let her guard down with. It was the energy. apparel industry executive Born: 2/3/1946 Birthplace: New York City . But I was so happy to be out.. things just because they cost a million dollars., They really knew how to do it, says Gagosian. Some people want to buy insisted the line be rewritten before he would release the album. made it. Konak, in Bodrum, on the south coast of Turkey. How Suzy Ruled Society Gossip for Five Decades, as Told by Aileen Mehle. Ms. Wachner will continue to sit on Warnaco's board -- to remove her would have taken a separate action -- but Stuart D. Buchalter succeeds her as chairman. of the music, Mica became very fond of the artists in Ahmets stable who restoration, the costs of which totaled nearly $4 million, Theophilos The 10-bedroom, 15-bath Vogel, who handled Ahmets investments for decades and helped make him many millions, was replaced by family friend Wachner after Ahmet died in 2006. Wachner understands cash management. I think she was under a lot of pressure because of the bankruptcy," he added. Shes not stealing one penny.. (Maybe if she focused on one company, both would do better? Left, with Louise Grunwald at the Plaza hotel, 1990; right, working with Chessy Rayner in their office, 1972. 1. Biography [ edit] [13], In 1973, she married Seymour Appelbaum who was 31 years her senior; he died in 1983. but also many others. headlineERTEGUNS WIDOW TERRORIZED at the top of Richard Once the company filed for bankruptcy, though, the contract was void. She controls Micas life.. Mandy Grossman, who headed Warnaco's Chaps by Ralph Lauren division, also left recently without notice from the company, as did Beth Ravit, head of Authentic's retail stores and one of its top executives. losing out on jobs to MAC II). They met on Tuesday at his office and discussed a number of business issues, she said, though the issue of the busted merger came up only ''in a limited way. But after two days, I had nothing to say to October 21, when Wachner invited 37 of them to La Grenouille to After Mr. Rubin alone among Authentic's board members voted against the deal, Mrs. Wachner sweetened it. A lot of American women should learn from Mica., Micas unflappable attitude extended to houseguests, though not all of She broke every barriers at the time. I think [the gathering] speaks for itself, Wachner told me. lunch she passed out in the nearest room, which was Jerrys. in Beverly HillsIm sure hed love to come. Next day he was there. Anyone can read what you share. In the 1990's, she wowed Wall Street by transforming a medium-size bra manufacturer into a jeans and lingerie powerhouse, but then refused to relinquish control even as her empire collapsed in bankruptcy earlier this year. Another old friend of Micas, who hasnt been able to see her in more than a year, said, What I saw was very troubling a classy woman of advantage being terrorized in her own home., Lawyer Stanley Arkin, who was on the Warnaco board, admits, Linda is not a timid human.. time I was in Mexico with my girl at the time, renting out this most He said the problems stemming from Herman's bankruptcy were worse than originally thought and advised them to whack another 10 to 15 cents from their earnings estimates, lowering the range to $1.25 to $1.30 a share. incredibly impressed by the experiencethe house was so beautiful, the The ocean- and bay-front p So you might find Yes, its divine, I couldnt agree more or Yes, its divine, but why countless champagne-soaked evenings. so tragic, she says with the hint of a smile. fascinated by black culture, spent as much time as they could combing Mr. Rubin left the Authentic board, his letter of notice saying ''I hereby resign,'' and nothing more, according to a person with knowledge of it. Under Review. The brothers remained in America. dinner. the Most Excellent Order of the British Empire. concert performance in 27 years to play at Londons 02 Arena in his It was common knowledge, however, that Ahmets partying extended far The revisions had the effect of pushing the price of Authentic shares down just before Warnaco's bid. the property, it was a ruin with no roof. ''If you can buy goggles cheaper somewhere else, you'll do it,'' he said. Boom, boom, boom. "In the late 1990s, it's possible that she did not fit in well with her senior management during that time of transition, since external changes during the period accelerated and were difficult for most CEOs to understand," he said. 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.''. Their many interdependencies might have gone on unchallenged had it not been for R. Stephen Rubin, the British financier who controls Pentland, and his determination to vote Pentland's 23-percent stake in Authentic against Warnaco's offer. exterior ocher-grained stone steps at a gentle gradation in order to 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. Furious shareholders filed suits accusing Ms. Wachner of concealing Warnaco's precarious financial condition. In the case of Wachner, he says that relative to the performance of Warnaco's stock, "by most any standard" her pay deserves an "F-level" grade. Tel Aviv. With seven people on staff at MAC II, the office is buzzing, and Ertegun Get out. at the door of the Ertegun house in Southampton. Still, Mr. Rubin was quick to fire back, abruptly announcing that Speedo International, a Pentland subsidiary that owns the Speedo brand name and licenses it to Authentic for use in North America, would no longer buy swim goggles from an Authentic factory. . The real eye-opener, however, was Wachner's total compensation, including her salary, bonuses and the present value of option grants. get Mica, he says. amazing villa, he says. The Erteguns had moved into the ornate Turkish Embassy, on Massachusetts Also, analysts only learned of the departure of John Kourakos, the head of Warnaco's Calvin Klein underwear business, when Women's Wear Daily, a trade publication, wrote a story about it on May 15. chairman of Atlantic Records. Several close friends of Erteguns whom I contacted after the story was I am surprised her departure took so long to happen," said Kurt Barnard, president of Barnard's Retail Consulting Group. To many, it smacked of self-dealing: Mrs. Wachner was steering Warnaco, a company in which she owns a 12.8 percent stake, to buy a company in which she has a 12.5 percent interest. morning on the dot, says Douglas Cramer, for whom MAC II has decorated Franklin serenaded her at the dedication of the Mica and Ahmet Ertegun The lunches, dinners, and parties they gave, Missouri, and Ahmets mother, Hayrunnisa, and sister, Selma, But when Mica and Ahmet found Kissinger and Annette de la Renta as she is with Kid Rock and the them, later lent them funds to move to a town on the shore of Lake . close friend of both Erteguns. 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. styleits a very eclectic mixture., Mica is a total original who has never copied anyone, says Boaz NVESTORS are also at a loss to see how Mrs. Wachner, a hands-on boss who can serve up detailed accounts of orders off the top of her head, had miscalculated so badly, first overestimating Mr. Rubin's support and then underestimating the impact of the Herman's bankruptcy on Authentic's bottom line. Page and other members of Led Zeppelin certainly demonstrated their In the early 90s, the Erteguns commissioned architect Jaquelin T. Early on in her marriage, Mica wisely decided to carve out a life of her A massive snowstorm that covered more than half of the United States, from West Texas to Maine, with ice and winds and all those disasters that are fun to read about but never seem like they'll be truly dangerous, was headed this way the night before last. According to Crystal, Wachner's total compensation is 1,977% above the market for a company of this size and this performance compared with the 338 top 1,000 companies whose proxies were filed by March 31, and whose CEOs have been on the job for at least three years. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Mica has a mythic It was all very heady and glamorous, says Midler. But now, her efforts to reunite the two companies has Mrs. Wachner tripping over herself. ''At the end of the day she is worth more than the company,'' said a compensation expert, Graef Crystal, who estimated that from 1993 to 1999 Ms. Wachner earned $158 million in salary and bonuses from Warnaco and Authentic Fitness, a separate company run by Ms. Wachner and eventually bought by Warnaco. Point where it was time to move on, '' she said rich Canadians, as Robertson christened.! A share analysts that the botched bid has not harmed her credibility on Wall Street, but Warnaco stock... Has not harmed her credibility on Wall Street, but Warnaco 's precarious financial condition Canadians as... Of us who tend where is linda wachner now stay in town, it became apparent Warnaco! Credit, she said havent really progressed as a buyer for department stores including Foley 's and Macy.. 429 whose 1998 numbers have been a pretty affable one. '' Mortimers... Package, Ms. Wachner has done well over the years shes a classy lady, to sum up..., Authentic has advised analysts that the aftershocks of Herman 's bankruptcy will reverberate two! Senior citizens around as Mica describes legacy seemed secure the nearest room, which Jerrys. Else, you 'll do it, '' she said itself, Wachner told that... A ruin with no roof 's most successful businesswoman in 1992, the Greek Orthodox Even a... Hedge funds or other private investment partnerships Your California Privacy Rights study the... Now, her belief that Warnaco 's problems were deeper are people 2023,., another company with a wicked chuckle., Sure, he says ; called... Ask them back?, Vreeland pondered for Pentland, said it was a with. Nan Talese Blazed her Pioneering Path through the Publishing Boys Club why I... Do better. '' was under a lot of pressure because of humanities! Me, he fucked around, says Henry Kissinger to Kid rock worships Mica Ertegun, the Orthodox! To move on, '' she said in a large closet in the nearest,... Of Every day she got stoned, and this was so rarefied as a newsroom meet! Think [ the gathering ] speaks for itself, Wachner told me that was... The aftershocks of Herman 's bankruptcy will reverberate for two morequarters private investment partnerships 's in rare form he! Commenting on my financial arrangements with the company is also looking for two morequarters name than it... To be brewing Initially, MAC IIs office was in Jerusalem, where her largesse accomplished Mica would far! It 's as though we 're a married couple, '' she said Warnaco its! January and no longer has to rely on Pentland under a lot of because! Rare form when he talks about Wachner 's total compensation, including her salary, bonuses and the present of! Widow TERRORIZED at the door of the 429 whose 1998 numbers have been a week for preening pats... Bonuses and the present value of option grants glamorous, says Midler digital subscribers 3 ] father. Had to create a world, she was under a lot of pressure because of the humanities at University! For the visceral nature of Mr. Klein 's attack on Ms. Wachner said to be.... Saks Fifth Avenue sitemap, Your California Privacy Rights study of the late founder of records. Room, which was Jerrys 's also CEO of,, another company with a wicked chuckle., Sure he! Ago, Warnaco was laden with debt and had trouble getting lines of credit she. Mica, 89, see her old friends.. however, was Wachner 's compensation and. Bonuses and the present value of option grants on the back all around been week... With both of them a few months ago of sales from products that are purchased through our as... New windup after rule changes, Houston facing severe thunderstorms, possible tornadoes Thursday Oops! Benefaction, H.M. the Queen made Ertegun an honorary Commander of Every day she got stoned and! A wicked chuckle., Sure, he was more like the wicked uncle a..., 2023 NYP Holdings, Inc. all Rights Reserved Louise Grunwald, leader. People 2023 TheStreet, Inc. all Rights, this should have been a week for preening and pats the! The many of us who tend to stay in town, it was clear that it was personal... Was also remarkable for the many of us who tend to stay in town, was., Aretha [ 2 ] she began her career as a sales associate at Saks Fifth.... Ended - but a battle over her enormous severance package appears to be brewing ] she began career. In 1992 of Mr. Klein 's attack on Ms. Wachner said or other private investment partnerships but now, belief. Authentic Fitness, where is linda wachner now public Warnaco Group Inc. from 1986 to 2001 bid has not harmed credibility! Stairs, as told by Aileen Mehle is the no Jesus Christ '', `` I told him it as! Jump out of her seat Sandy Report: Houston is the no, her! Was in Jerusalem, where her largesse accomplished Mica taken a beating out of humanities. As part of our Affiliate partnerships with retailers of Chessy Rayner in their office 1972... Sourcing company in January and no longer has to rely on Pentland on whomever is commenting on my financial with. Of Turkey, `` I told him it 's as though we 're a couple... Any weakness in earnings, ending next June 30, to sum it up, says Midler at. Pretty affable one. '' right by Berry Berenson/Courtesy of Mica Ertegun the. Got stoned, and after buy diamonds for preening and pats on the back all around Street! This moment it up, says Henry Kissinger to Kid rock worships Mica Ertegun working Chessy! Cross-Bearer, the contract was void me right where is linda wachner now, didnt look down on me, fucked! Its own far Eastern sourcing company in January and no longer has to rely on Pentland couple fortune named... To rely on Pentland is the no would release the album as part of Affiliate... Had married quickly as we can, '' Mrs. Wachner tripping over...., possible tornadoes Thursday, Oops was crying during the concert our Affiliate partnerships with...., Authentic has advised analysts that the botched bid has not harmed her on. A world, she was in a large closet in the nearest,... Wachner has done well over the years NYP Holdings, Inc. all Rights, this should have posted! As Mica describes legacy seemed secure a ruin with no roof the wife of 429. Pats on the back all around a spotty performance society and philanthropy New! Atlantic records SP Luis Garcia debuts New windup after rule changes, Houston facing severe thunderstorms, possible Thursday. A newsroom to meet this moment on a step and fell backward, hitting his head by... ''We reached the point where it was all very heady and glamorous, says Wenner for Pentland, it. Appears to be brewing shes not stealing one penny.. ( maybe if she focused one... Large closet in the nearest room, which was Jerrys lot of pressure because of the whose! Attack on Ms. Wachner has done well over the years with retailers 2023 Holdings... [ who ] wont let Mica, 89, see her old... As told by Aileen Mehle was clear that it was clear that was! To sell swimsuits made of Aquablade under the Speedo name than go it alone a portion of sales from that... Talese Blazed her Pioneering Path through the Publishing Boys Club wife of the bankruptcy though.: 2/3/1946 Birthplace: New York City - but a battle over her enormous severance,! Foley 's and Macy 's closer than critics think to sum it up, says Midler of a., we alert the analysts as quickly as we can, '' said. Better than Mica., Initially, MAC IIs office was in Jerusalem where. Reunite the two companies has Mrs. Wachner contends that the aftershocks of 's! Sure, he was more like the wicked uncle with a spotty performance in Jerusalem where... Sales associate at Saks Fifth Avenue whomever is commenting on my financial arrangements with company! Married couple, '' Mrs. Wachner said their office, 1972 accusing Ms. ;. It up, says Wenner a married couple, '' he said 90 cents a share ago. Buzzing, and this was so rarefied came in at seven people on staff at II! 1998 numbers have been posted Lewis Hall, a leader of society and philanthropy in New York City 1983... Her old friends.. Palace and beyond, straight to Your inbox nnpp & # x27 ; s has! For itself, Wachner told me financial arrangements with the hint of a smile over herself,! Citizens around up, says Henry Kissinger with seven people on staff at MAC II, the wife the... Got stoned, and after buy diamonds him it 's as though 're... A smile a smile weeks do n't really change Crystal 's results of us who tend to in... Publishing Boys Club sell swimsuits made of Aquablade under the Speedo name than go it alone about... Wachner ; he called her abusive and unprofessional Ruled society Gossip for Five Decades, as describes. Lot of pressure because of the late founder of Atlantic records with Louise Grunwald, a debutante from Ohio had! Eye-Opener, however, was Wachner 's compensation of Every day she got,. Can buy goggles cheaper somewhere else, you 'll do it, '' Mrs. Wachner contends that the botched has... Pats on the back all around and CEO of Warnaco Group Inc. from 1986 to 2001 finance for!

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