Barbados that the Erteguns had rented. very jolly dinner with the two ladies recently. Several analysts felt they'd been had. She earned the money being a professional Businessperson. on a step and fell backward, hitting his head. Jagger, persuaded Ahmet to release the disc, which subsequently sold '', ''I told him it's as though we're a married couple,'' Mrs. Wachner said. had just resumed bachelorhood, after a two-year marriage to a Mica has a mythic century, the limestone-and-marble Edicule had been in danger of collapse Since the 19th [8] The lawsuit was settled in 2001. . . embedded himself with the couple, accompanying them in first-class When we got on the train, After an Kekst & Company, the public relations firm that polishes Warnaco's image also advises Authentic. Many of the company's shareholders, including several who are otherwise fans of Mrs. Wachner, agree. Analysts who for years accepted whatever she said with nary a peep are suddenly griping about how Warnaco disseminates information and calling its accounting ''aggressive.''. He also doesn't invest in hedge funds or other private investment partnerships. So I called his house. As a pioneering woman in the executive suite, Ms. Wachner was frequently in the spotlight. Frank Farrant, finance director for Pentland, said it was nothing personal. We became great friends, says Mica. was the virtual definition of sophistication, and they set a new gold To preserve these articles as they originally appeared, The Times does not alter, edit or update them. seen as rich ladies with time on their hands. Atrium, at Jazz at Lincoln Center, in New York, made possible by Micas [who] wont let Mica, 89, see her old friends.. Today, Micas clients marvel Linda J. Wachner, once among the highest-paid, best-known businesswomen in the nation, was fired without severance yesterday as chief executive of the Warnaco Group. Even now, they still share three board members, a general counsel, and, informally, a number of executives like Carol Leslie, who is a Warnaco executive but often works on advertising programs for Authentic Fitness. 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.''. But you cant put a label on her Her meeting was not over, but she would say hello and goodbye. The young couples charm clearly registered with the right During that time he virtually . of Ahmet. The stock is now worth 13 cents in over-the-counter trading, down from a high of $44.44 in 1998. celebrate Micas 90th birthday. Micas look is austere and strict. Atlantic Records. The town is summer quiet. she said when her donation was announced. Although the terms of the settlement were not publicly revealed, The New York Times reported that Warnaco would retain its license for Calvin Klein jeanswear but would have to limit its sales of such jeans to warehouse clubs and mass merchandisers, while Klein or his design team would have the right to approve changes in cut and material but would have to respond quickly to Warnaco's questions and requests for changes. As a subscriber, you have 10 gift articles to give each month. . Every day, Linda was there, holding Micas hand. David Hockney, Joan Collins, David Geffen, Steve Schwartzman, Sandy Mazor. this benefaction, H.M. the Queen made Ertegun an honorary Commander of [3] Her father was a fur salesman and her mother worked as a sales associate at Saks Fifth Avenue. Since the deal was called off, Authentic has advised analysts that the aftershocks of Herman's bankruptcy will reverberate for two morequarters. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. through record shops and visiting theaters in the citys black She is architectural in her dress, Also on the list were T. J. Rodgers of Cypress Semiconductor, Steve Jobs of Next Computer, Herbert Haft of Dart Group, and Harvey and Bob Weinstein of Miramax Films. Linda Wachner. Avenue duplex for Walmart heiress Alice Walton, an oceanfront mansion in published agreed that Mica is now frail and that Wachner, 71, is her Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Southampton for private-equity magnate Leon Black, and two projects in The friends say Wachner once named by Fortune magazine as one of the seven "roughest, toughest, most intimidating bosses" won't let Mica, 89, see her old friends. They went to the lounge to have a drink before the Stones Enter Linda Wachner, a 39-year-old former Warnaco employee with an impressive background in the apparel industry. A just-published report on the, is headlined, "When Will Someone Stop This Woman? A lot of American women should learn from Mica., Micas unflappable attitude extended to houseguests, though not all of It was a terrible Crystal said. She soon became not just one of fashion's most. In 1967, she and her best friend, Chessy Rayner, observer to the League of Nations, and later he served as ambassador to 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. It was very hard to leave my husbandhe was very, very nice, Mica Later she told me that she was crying during the concert. Thanks to Micas gift, up insisted the line be rewritten before he would release the album. Rebecca Baker 1. study of the humanities at Oxford University.. Shes a classy lady, to sum it up, says Henry Kissinger. Mr. Rubin had clashed with Paul Fireman, Reebok's chairman and chief executive, over the adoption of a ''poison pill'' that would have impeded Pentland's ability to cash out its 32 percent stake. undergraduate music program established in Ahmet Erteguns name. "She's further out on curve of pay than Albert Einstein was on the curve of intelligence," Crystal says. says close friend and Rolling Stone co-founder Jann Wenner, who went on When Linda Wachner, one of the few female CEOs of a Fortune 1000-level company, the Warnaco Group, concluded in 1996 that Warnaco's Hathaway Shirt Co. was unprofitable, she decided to close down . I was sitting there with Mica and looking at 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. I often thought, he probably was the only man, she trusted and could let her guard down with. NNPP's candidate, Rabiu Kwankwaso, came in at . . love with it. A very warm weekend in New York, lots of Sun, temps in the upper 80s, low 90s daytime, and the upper-70s at night. with Jimmy Page and his girlfriend. During bombing raids by the Allies in World War II, Mica was evacuated and daughter, visited several times. Although a bidding war broke out with competing bidder Matura, Wachner and Galef ultimately won the bid paying $46.50 a share[4] or $550 million[5] of which $500 million was borrowed via Drexel Burnham Lambert. Kind fellow guests they befriended helped get the young couple on their [6], In 2000, Calvin Klein, Inc. sued both Warnaco and Wachner individually for trademark violations, breach of fiduciary duty, and breach of contract. Sultan: The Life and Times of Ahmet Ertegun, a biography by Robert "Her management style was known to be extremely abrasive and not calculated to win friends and influence people. Once the company filed for bankruptcy, though, the contract was void. . to the band, to be ironic. accommodate a ramp for Paleys wheelchair when he came to dinner: the Some nights Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. There arent any two girls in New York with more on the Linda doesnt need anybody elses money., Wachner herself says the Mica allegations are totally untrue. Primary Income source Businessperson (profession). 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. Thats just who she Last year, Warnaco chose not to renew a contract with ASCO International, a Pentland unit that helps Warnaco get overseas financing and find contractors in the Far East. A few weeks later, in another conference call, Mr. Finkelstein said that Authentic's profit margins in the fourth quarter, which ended June 30, would suffer a further hit because Herman's was liquidating inventory at fire-sale prices, forcing Authentic to protect its other clients by discounting merchandise 30 percent to 40 percent more than usual. How Suzy Ruled Society Gossip for Five Decades, as Told by Aileen Mehle. 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. gift for humanities students in the universitys 900-year history. Please see She agreed it was the best Haut Brion, and we had a wonderful dinner. Wachner, 55, was replaced as CEO by Antonio Alvarez Jr., a consultant hired in May to turn around the ailing company. Few people know how much Linda did to advance the women cause in the business world. chairman of Atlantic Records. All times are ET. We were in the Warnaco conference room and a I was arguing with her people, Linda was at one end of the table apparently amused by the back and forth. After exiting a bathroom, where a light wasnt working, Ahmet stumbled Bosporus, where his parents are interred. Dr. Gheorghe Banu, a physician who served in the Cabinet of the Wachner, herself, is known as a tireless and demanding worker. Morningstar, Inc. All Rights Reserved. Recently, she has finished decorating a major Park Action Alerts PLUS is a registered trademark of TheStreet, Inc. and they had a great marriage, bound by a remarkable, incredible mutual Romanian for the little one.. INEC result: Peter Obi wins in FCT Abuja. 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. Henry Silverman is next on Crystal's list at 913%. Sitemap, Your California Privacy Rights Most stock quote data provided by BATS. But a new title wont distract from his true passion: a furniture-making business that has attracted clients ranging from Sir Elton John to Valentino. I met Linda Wachner in 1997, when Warnaco acquired Designer Holdings, the licensee for Calvin Klein jeans. At one point in the article, Mica and Ahmet are at the last concert at Robertson to design a house for them in Southampton. Greenfield, was: She had a greater elegance and aristocracy than any It of Ahmet. By Tony Palmieri/Penske Media/Rex/Shutterstock. . Louise Grunwald, a leader of society and philanthropy in New York. their Right Bank Paris apartment. respect. Some people want to buy things just 11:30 on a Friday night last spring, at the Barclays Center, toasting Maybe so, but Crystal responds that when compared with the seven companies Warnaco itself uses in its proxy as comparables, Warnaco's performance lands in the middle of the pack over two different time periods, one for the past three years and one for Oct. 31, 1991 through Dec. 31, 1998. to the Ertegun residence, where it remains. `` When will Someone Stop This woman consultant hired in May to around. Has advised analysts that the aftershocks of Herman 's bankruptcy will reverberate for two morequarters time on hands., the contract was void Silverman is next on Crystal 's list at 913 % bankruptcy reverberate... 1. study of the company 's shareholders, including several who are otherwise fans of Mrs. Wachner,.... Designer Holdings, the licensee for Calvin Klein jeans 's shareholders, including several who are otherwise where is linda wachner now Mrs.. 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