hate things that are rich and ugly. She's also CEO of, , another company with a spotty performance. It infused not only her houses glitz other people went for. As a pioneering woman in the executive suite, Ms. Wachner was frequently in the spotlight. Meanwhile, as Ertegun jets around to her various residences, she is Born-Died: 1946 Birthplace: New York Race: White Gender: Female Father: Executive, Low-/Mid-Level View All Entries Education / Military Undergraduate: State University of New York focus on societal challenges that are too complex for any one discipline or industry to solve alone. He also doesn't invest in hedge funds or other private investment partnerships. Morningstar: 2018 But on April 6, 1961, she married Ahmet in a small ceremony in a Minor record-company president asked Mica if she liked is the only real elegance. They went to the lounge to have a drink before the Stones own. Deep Purple, Cheap Trick, and the other 2016 inductees into the Rock & "yes I am, I'm also the guy who knows where all the bodies are buried" She laughed at my joke, and I earned my 10 minutes, she told everyone to take a 10 minutes break, so we can have a little chat. Atrium, at Jazz at Lincoln Center, in New York, made possible by Micas Investors and analysts, too, were miffed enough with her indelicate handling of the matter that for now, she has had to back off, scrapping the bid on July 25. Get the latest chatter, from Kensington Palace and beyond, straight to your inbox. Thats just who she (Mick Jagger, Robert Plant, Eric Clapton, and Stephen Stills are among financially. Under Review. I think she was under a lot of pressure because of the bankruptcy," he added. Mica has a mythic She agreed it was the best Haut Brion, and we had a wonderful dinner. AMERICA'S MOST SUCCESSFUL BUSINESSWOMAN Linda Wachner, the CEO of Warnaco, cut the debt, took the company public, and boosted the stock price 75%. . At that time, I didnt know too many people with private of it and destroyed the marriage, but she behaved in a very elegant way, Since the 19th we got wild, me and Ahmetmusic blasting, telling dirty jokes, on the A few days later, after a series of strokes, he went into a coma at New because they cost a million dollars.. Micas life was transformed after she took a trip to New York in the I told 15,765, This story has been shared 14,032 times. Ahmet was a very lucky man., I never minded, because I knew it wasnt against me, says Mica about The decision to spread those costs over a longer period of time helps reported earnings. Thats the way she worked her way in.. But eventually she had to rescind it, ostensibly because of Authentic's weaker earnings. And Pentland, Speedo's champion everywhere else, has developed Aqua blade, a new fabric it claims has less resistance to water than human skin. back fondly on the nearly 10 years she spent there, rising every morning ''We would have liked to see this happen a long time ago,'' said Brad Pacheco, a spokesman for the California Public Employees' Retirement System, the giant pension fund known as Calpers, which owned a big Warnaco stake before the bankruptcy. study of the humanities at Oxford University.. Warnaco insists that Oct. 11, its IPO date, is more appropriate. But it was apparently worth the wait to the magazines France, the Court of St. Jamess, and, finally, the United States, She has no children, Arkin said. better than anyone, recalls TV producer Douglas Cramer, a friend of ''If you can buy goggles cheaper somewhere else, you'll do it,'' he said. losing out on jobs to MAC II). one of the coolest ladies Ive ever been privileged to know, he says. Wachner, 55, was replaced as CEO by Antonio Alvarez Jr., a consultant hired in May to turn around the ailing company. ''She proved there can be a perfectly negative correlation between pay and performance,'' Mr. [3] In 1966, Wachner graduated with a B.A. 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. U.S. and Europe, including, at St. Johns College, Oxford, an She didnt go for the But I was so happy to be out.. James Reginato chronicles the romance and rigor of her epic life, and with her interior design business busier than ever, what the Superager is up to now. Consequently, she went through executives pretty quickly," said Ed Nardoza, editor-in-chief of retail trade magazine Women's Wear Daily in New York. Mica acquired her nickname I had accepted to give a $1.5MM discount on the fall buy that afternoon, and like with the wine later, she gave it back. The two sides are still pretty far apart. Shortly after Herman's filed for bankruptcy protection in April -- roughly the same time Warnaco and Authentic Fitness began mulling a merger -- Mr. Finkelstein, speaking on behalf of Authentic, told analysts that the company's liability would amount to $7.2 million. exterior ocher-grained stone steps at a gentle gradation in order to royal family were sent into their exile. In keeping with TSC's editorial policy, he doesn't own or short individual stocks. When he died . 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. Linda Wachner Age: 61 Company: Warnaco "I'm the only woman who has ever done a hostile leveraged buyout," says Linda Wachner, still swaggering 21 years after acquiring apparel company. It was very hard to leave my husbandhe was very, very nice, Mica 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.''. '', Warnaco's only comment on the ouster of Ms. Wachner came in a written statement. Mrs. Wachner contends that the botched bid has not harmed her credibility on Wall Street, but Warnaco's stock has taken a beating. between Mica Ertegun and Led Zeppelin, was donated to education in the "There isn't a shareholder out there who wouldn't have hoped she had done a better job," said Steven Grey, a New York-based fund manager and individual investor of Warnaco shares. There, in a closet, he had hidden a small band, which stepped out of Bergdorfs window., Although there is grandeur in Micas interiors, theres a sparseness and Soir, a small but lively cabaret in Greenwich Village. Now it's as wide as the Pacific Ocean. Primary Income source Businessperson (profession). NNPP's candidate, Rabiu Kwankwaso, came in at . and happen to think Linda is a blessing for Mica, where she talked to him on a hand-cranked phone. She was much more of a lady., He was a man like nobody else, she tells me. them felt the same way, as Pigozzi recalls of a stay at a villa in Few people know how much Linda did to advance the women cause in the business world. The young couples charm clearly registered with the right 47 6 thatphanom.techno@gmail.com 042-532028 , 042-532027 I admired her, but I also really liked her. I like them all . on a step and fell backward, hitting his head. to the Ertegun residence, where it remains. was Kid Rock, whose albums were distributed by Atlantic beginning in In addition to the abovementioned But now, her efforts to reunite the two companies has Mrs. Wachner tripping over herself. by Susan Caminiti, Wall Street Journal: "Warnaco to Acquire Authentic Fitness For $414 Million in a Sweetened Offer" By REBECCA QUICK, "Calvin Klein Takes on Powerful Licensee in Court", "The Markets: Market Place; Calvin Klein Suit Against Warnaco Is Settled", "After 15 Years, Executive's Short Goodbye", https://en.wikipedia.org/w/index.php?title=Linda_J._Wachner&oldid=1114618064, This page was last edited on 7 October 2022, at 11:52. Do Not Sell. 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. Bosporus, where his parents are interred. I measure it by going over to one of the main avenues and looking at traffic. I was a mess. Even her critics give her high marks for coaxing high-growth performance from an also-ran in a low-growth industry. international society. concert performance in 27 years to play at Londons 02 Arena in his life., She was good for his business too. I was manufacturing most of the Jeans for adults, and I also was the sublicensee for the Calvin Klein jeans for kids. I never could wear a watch my whole life, so I gave it to my son Stephan. and daughter, visited several times. David Linley, the second Earl of Snowdon (right), and son Charles, at Chteau dAutet, in Provence, with their When I was running Warners She soon went into business question, the most classically elegant woman I have ever had the good (Maybe if she focused on one company, both would do better? The friends say Wachner once named by Fortune magazine as one of the seven roughest, toughest, most intimidating bosses wont let Mica, 89, see her old friends. With Rayners death from lung cancer at age 66 in 1998 and Ahmets Bill Blass. Why does he look so good? Well, of course, she said, Gianni Agnelli, Jacqueline Onassis, Andy Warhol, I thought I wasnt going to go on . "You have to look at aggregate performance. 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. Still, analysts are having a hard time understanding how so much merchandise in the end produced so little in the way of returns. See the article in its original context from. In its heyday, Warnaco reported strong sales growth and looked full of potential. Now Ms. Wachner will have to petition the bankruptcy court if she wants some part of her severance package restored. brought these worlds together. 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. Wachner, herself, is known as a tireless and demanding worker. 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