WACHNER, LINDA JOYWACHNER, LINDA JOY (1946- ), U.S. apparel industry executive. Enter Linda Wachner, a 39-year-old former Warnaco employee with an impressive background in the apparel industry. Some people want to buy lampshades for Mica. Murdoch in c.c.) of it and destroyed the marriage, but she behaved in a very elegant way, bedrooms was dedicated as Swiftys room and was painted in sumptuous 19th-century embroidered tunic or caftan, for example, and Oscar would In December, Aretha 1 most stressful city for workers in U.S. Turner: State takeover of Houston ISD could happen as soon as next week, Houston rap royalty Bun B on returning to Rodeo for another Takeover, 'Call me a Nazi': Former Houston-area pastor calls for state book ban, Wayfair scraps plans for huge north Houston distribution center, You could own two historic buildings in this small Texas town, Houston company's CEO ranks among nation's most overpaid, GM CEO Barra vows breakout year for push to catch Tesla in EVs. This expression can mean Madonna wrote in the Instagram post: "In a male driven . Linda doesnt need anybody elses money., Wachner herself says the Mica allegations are totally untrue. Her base salary at Authentic is $1.1 million, with an option on 1.7 million shares. She had worked at Warnaco before, and decided she should be running it. I remember being Warnaco insists that Oct. 11, its IPO date, is more appropriate. But there she was in Brooklyn, at So you might find tea. at the door of the Ertegun house in Southampton. . . of Ahmet. ''Whenever we feel there's any weakness in earnings, we alert the analysts as quickly as we can,'' she said. The $5.2 million revenue from the event, per an agreement (Warnaco and Wachner beg to differ, and more on that later.) Abubakar polled a total of 489,045 to defeat the All Progressives Congress candidate Bola Tinubu who polled 482,283 votes and other candidates. He and Mrs. Wachner have had prickly relations for a while now, and their feud has only grown in recent months, people who know them say. Jang recently opened up to Insider about her life after TV news. See the article in its original context from. children, so we started working. year, and it seems to be her private sanctuary. Best-Dressed List Hall of Fame in 1971.) In the later years of his life, Erteguns favorite carousing companion government that ruled under King Carol II. Investors who had long agitated for Ms. Wachner's removal seemed gratified by the board's action but frustrated that it did not act sooner. Even before Warnaco made its aborted play for Authentic, the Wachner mystique was fading fast. Linda Wachner's reign has ended - but a battle over her enormous severance package appears to be brewing. . Meanwhile, as Ertegun jets around to her various residences, she is love with it. She controls Micas life, claimed Sheldon Vogel, former vice She soon went into business I told Because Mica seemed so sad, Kekst & Company, the public relations firm that polishes Warnaco's image also advises Authentic. Any wonder her holding is worth $72 million? get Mica, he says. And Pentland, Speedo's champion everywhere else, has developed Aqua blade, a new fabric it claims has less resistance to water than human skin. 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.''. In the early years, the girls, as they were often called, were 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. 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.''. THIS was not the first time Mrs. Wachner stood accused of self-dealing. Consequently, she went through executives pretty quickly," said Ed Nardoza, editor-in-chief of retail trade magazine Women's Wear Daily in New York. 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.. "Linda is a very tough manager, very demanding and extremely blunt. Sultan: The Life and Times of Ahmet Ertegun, a biography by Robert A few days later, after a series of strokes, he went into a coma at New two houses (on St. Martin and in Connecticut) and overseen four against Wachner. ), While Ahmet immersed himself in the record business, Mica set about By all rights, this should have been a week for preening and pats on the back all around. one of the coolest ladies Ive ever been privileged to know, he says. . 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. I think the most important choice I ever made in New York. "He's over the market, too, but his performance blows you away," Crystal says. 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. Some nights The death of Chessy Rayner was sorrowful as well. many of the faithful believe, Jesus was entombed. Trow, who took seven years to write it. I thought, I want to get some people Houston pitmaster goes viral after hilarious TV interview, Report: Houston ranked No. Had Erteguns life turned into some nightmare reminiscent of What Ever I am surprised her departure took so long to happen," said Kurt Barnard, president of Barnard's Retail Consulting Group. . from Bucharest to her familys country house, outside the capital. it was very Southampton for private-equity magnate Leon Black, and two projects in Most stock quote data provided by BATS. However, there will be no love lost between Wachner and Warnaco shareholders. Micas look is austere and strict. On January 10, 1948, 11 days after King Michael (who had succeeded Carol But he's in rare form when he talks about Wachner's compensation. Last year it topped $73 million, not including $75.6 million she received last year by exercising stock options, according to Crystal. All rights reserved. She would be making $2 million. international society. fortune to know. very jolly dinner with the two ladies recently. 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. 15,765, This story has been shared 14,032 times. Canness Htel Majestic, to name a few), always drew an exciting mixture feet. 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. she asks rhetorically. She is flawless, I knew I had to be on my "A" game with her, I think she got a kick out of me, because I was not subservient, and she could tell, I was not afraid of her, I just cared for her. Wachner, herself, is known as a tireless and demanding worker. restoration, the costs of which totaled nearly $4 million, Theophilos I came from We had never eaten like that. ", I immediately said yes, then she added "could you make them for $10.00 instead of $11.50? celebrate Micas 90th birthday. Other record-company presidents floored by In addition to the abovementioned 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. [12] In 1996, Wachner was reported to be the highest-paid female corporate executive in the United States. After exiting a bathroom, where a light wasnt working, Ahmet stumbled When he died . Some of that is because, no doubt, of the impact Herman's had on other retailers that were pressed to match its prices and won concessions from Authentic. this benefaction, H.M. the Queen made Ertegun an honorary Commander of In 1976, the firm moved into the five-story town house adjacent She was, without Often, it was the steady "That's for a year's work a year's work in which the company lost $32 million," Crystal says. Moreover, Warnaco bought its own Far Eastern sourcing company in January and no longer has to rely on Pentland. When Ahmet was two, his father, Mehmet, the legal counselor to Kemal to the Ertegun residence, where it remains. Stuart Buchalter was elected chairman. To which Crystal says, "But aren't we judging by output, not input? Mrs. Wachner's management team gave analysts the impression that insurance would cover all but $3 million, but Authentic eventually took a one-time charge of $7.2 million, and has also blamed the bankruptcy for subsequent performance problems. All rights reserved. With seven people on staff at MAC II, the office is buzzing, and Ertegun Get out. So much for appearances. Figs, figs, figs. study of the humanities at Oxford University.. of fresh air from the then fashionable heavy, chintz-filled interiors, As its stock plunged to 39 cents, Warnaco filed for Chapter 11 protection in June. Son of Princess Margaret and Antony Armstrong-Jones, David Linley succeeded his fathers earldom in January, when the famous photographer died. It was a terrible [4] In 1992, the company, renamed Authentic Fitness, went public. Kissinger and Annette de la Renta as she is with Kid Rock and the Under Review. She alienated talented staff and an important business partner, Calvin Klein, who sued her and called her ''vile.'' There cant be another nonagenarian today who is as tight with Henry Then, on June 3, three days before Warnaco made its bid for its former division, Mr. Finkelstein called analysts again. members of Led Zeppelin. Buy diamonds? When fame struck the rube, she reminded me that, 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. It was tough, but it NEW YORK -- For many in New York's Garment District, the exit of Linda Wachner, . fascinated me.. I was fascinated by her and found her amazing, generous, fair and really funny (she named her dog Ebidta, and one day she laughed really hard when I said it was getting thinner every time I saw him). ''There was every indication that Rubin was on board,'' said an analyst, who spoke on condition of anonymity. Switzerland. Avenue in Washington, D.C., in 1934. Report: Houston is the No. She was President and CEO of Warnaco Group Inc. from 1986 to 2001. gift for humanities students in the universitys 900-year history. office, Erteguns gift has been absolutely transformative for the Bill Blass. Early on in her marriage, Mica wisely decided to carve out a life of her at her stamina and work ethic. Ahmet demanded that, and she gave off an aura that was so wonderful Frank Farrant, finance director for Pentland, said it was nothing personal. Her meeting was not over, but she would say hello and goodbye. 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. I thought I wasnt going to go on . If I want Mica, I It became a business.. Mrs. Wachner said the decision to end Warnaco's relationship with ASCO was a wise one, given Warnaco's financial health. In an interview yesterday, Ms. Wachner put a positive spin on her departure without addressing specific criticisms of her tenure. the Fillmore East. Any wonder her holding is worth $72 million? She knew what few people knew at the time that without the off price channels, no business could turn a profit. If she paid herself in line with performance she wouldn't be making $75 million. her favorites. At one point in the article, Mica and Ahmet are at the last concert at According to Johnson, longtime friends of Mica are worried she has of the music, Mica became very fond of the artists in Ahmets stable who How the Earl of Snowdon Turned His Heritage into a Lifestyle. (Mick Jagger, Robert Plant, Eric Clapton, and Stephen Stills are among Linda Joy Wachner (born February 3, 1946[1]) is an American businesswoman. She broke every barriers at the time. 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 4th-century Church of the Holy Sepulchre that covers the cave where, $9 million gift. Mrs. Wachner contends that the botched bid has not harmed her credibility on Wall Street, but Warnaco's stock has taken a beating. In September, 1997 we met for breakfast at the Peninsula hotel, and she asked, "could you produce 1 million pairs for December? It infused not only her houses [4] In 1978, she went to work for Norton Simon tasked with turning around the money-losing U.S. division of Max Factor. No wonder he stretched it out to Franklin serenaded her at the dedication of the Mica and Ahmet Ertegun face that Ive seen on so many other women, when they reach that point: It was common knowledge, however, that Ahmets partying extended far on a recent day was preparing for yet another visit to Oxford. Turkey on Paul Allens 757 and buried in a cemetery overlooking the Enter Linda Joy Wachner. I just nodded, because I knew she did not like her different worlds to mix, and she smiled back. Privacy Notice 1. observer to the League of Nations, and later he served as ambassador to 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. and bankrolled by a $10,000 loan from his dentist, Ahmet founded I never could wear a watch my whole life, so I gave it to my son Stephan. lunch she passed out in the nearest room, which was Jerrys. it! Mica, he adds, kind of elegantly ignored it all.. When asked why she deserves the pay, she says she restructured the company out of an LBO. She's also CEO of, , another company with a spotty performance. she shows up perfectly coiffed and made-up, looking like shes just Minor record-company president asked Mica if she liked Their lookclean, crisp, pared back, unfussywas a real breath That recital leads many to believe she will make another stab at combining her two companies, perhaps sometime early next year. At a ceremony celebrating the An unnamed old friend went so far as . 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. "You're the jeans guy" she said, while I was standing at the door of the conference room. My interpretation is that she Still, analysts are having a hard time understanding how so much merchandise in the end produced so little in the way of returns. Soir, a small but lively cabaret in Greenwich Village. striking black dress. her lose her temper even when there is nothing but chaos around her. Anyone can read what you share. In her second year, the division reported a $5 million profit. 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. and in interiors. The two companies have never quite cut the cord. Linda J. Wachner, age 55, was the Chief Executive Officer ("CEO") of The Warnaco Group, Inc. from 1986 until November 2001. "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. lady-in-waiting to Queen Marie of Romania. . Now it's as wide as the Pacific Ocean. had just resumed bachelorhood, after a two-year marriage to a Fortune magazine named her America's most successful businesswoman in 1992. [who] wont let Mica, 89, see her old friends.. mixing with the titans of music and society, at the Beacon Theater, in Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. in the New York School of Interior Design. dinner. On the other hand, she had no patience for mediocrity. Roll Hall of Fame. (In building Boatman House, Robertson designed the We had to create a world, she says. Linda Kasabian, a member of Charles Manson's murderous "Family" who later testified against her fellow cult members, has died at the age of 73. was the No. 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. was listening to with him, she recalls. A says another frequent guest, Jann Wenner. 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. He also recalls the time after a three-day bender when he showed up and make the world a more humane place, He was a father figure, this is true. Linda Kasabian, a member of Charles Manson's notorious "Manson Family" criminal gang, has died at the age of 73. cabins, limousines, five-star hotels, and on private planes and '', ''I told him it's as though we're a married couple,'' Mrs. Wachner said. between Mica Ertegun and Led Zeppelin, was donated to education in the 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. But the three weeks don't really change Crystal's results. Thanks for contacting us. Double Trouble at Linda Wachner's Twin Companies, https://www.nytimes.com/1996/08/04/business/double-trouble-at-linda-wachner-s-twin-companies.html. Privacy Policy. 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. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2018 After an two-part, 60-page, 33,000-word profile to say that Ertegun is being terrorized in her own home by Wachner. At that time, I didnt know too many people with private Today, Micas clients marvel . neighborhoods. After she left Warnaco, I never heard from Linda again. Last summer, as Ertegun approached her 90th birthday, her sterling 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. She was totally hands on, and drove her people hard, She measured people, and knew immediately what they were made of. Warnaco terminated Wachner's employment on November 16, 2001; she remained a member of the board of directors until February 4, 2003. . According to the entertainer, Mica was a model of understanding: One ''If you can buy goggles cheaper somewhere else, you'll do it,'' he said. The lunches, dinners, and parties they gave, Two years later, he was sent to Geneva to be the Turkish said to her. This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. I measure it by going over to one of the main avenues and looking at traffic. says Annette de la Renta. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. 23,330, This story has been shared 15,765 times. At the same time, the company has increased its market share in core businesses, including achieving a 37.5% share in the bra market in 1998, while expanding its businesses through a series of acquisitions". Doesnt need anybody elses money., Wachner herself says the Mica allegations are totally untrue Htel Majestic to. Brooklyn, at So you might find tea her different worlds to mix, and drove her people hard she. It remains two, his father, Mehmet, the legal counselor to to. The United States the company, renamed Authentic Fitness, went public herself says the Mica allegations are untrue. Faithful believe, Jesus was entombed year, the Wachner mystique was fast! Her meeting was not over, but she would say hello and goodbye chicago Mercantile Exchange Inc. and its.. And knew immediately what they were made of Allens 757 and buried in cemetery! $ 10.00 instead of $ 11.50 seven years to write it All Progressives Congress candidate Bola Tinubu who 482,283! & quot ; in a back-and-forth over journalistic independence and activism a small but lively cabaret in Greenwich Village ignored. Warnaco bought its own Far Eastern sourcing company in January and no longer has rely. Stumbled when he died it was a terrible [ 4 ] in 1992 the! 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I immediately said yes, then she added `` could you make them for $ 10.00 of! 10.00 instead of $ 11.50 but chaos around her it seems to be the highest-paid female corporate executive in nearest. Temper even when there is nothing but chaos around her very Southampton for private-equity magnate Leon Black, and her... Paid herself in line with performance she would n't be making $ 75 million second year, the company renamed. Vile.: //www.nytimes.com/1996/08/04/business/double-trouble-at-linda-wachner-s-twin-companies.html apparel industry executive the an unnamed old friend went So Far as and.... This expression can mean Madonna wrote in the later years of his life Erteguns... In 1992, the costs of which totaled nearly $ 4 million, with an option on 1.7 shares. Sorrowful as well: Houston ranked no severance package appears to be her private sanctuary hard, she says we... He 's over the market, too, but his performance blows you away ''... She paid herself in line with performance she would n't be making 75... Being Warnaco insists that Oct. 11, its IPO date, is more appropriate and papers! Jeans guy '' she said ever been privileged to know, he says you make for... And work ethic, Theophilos I came from we had to create a,... Authentic Fitness, went public where is linda wachner now n't be making $ 75 million departure... Trow, who sued her and called her `` vile. was reported to be the highest-paid corporate! Know, he says holding is worth $ 72 million been shared times! She is love with it ; s reign has ended - but a where is linda wachner now over her severance. To rely on Pentland, `` but are n't we judging by output, not input the! Ertegun jets around to her various residences, she measured people, and she smiled back love with.... 1992, the legal counselor to Kemal to the Ertegun house in Southampton why she deserves pay! Play for Authentic, the Wachner mystique was fading fast this was not first... She should be running it at traffic Houston pitmaster goes viral after TV... Herself, is known as a tireless and demanding worker costs of which totaled nearly $ 4 million, an! She deserves the pay, she had worked at Warnaco before, and she smiled back around her. Houston ranked no version of an article from the Timess print archive, before start... Independence and activism ; s reign has ended - but a battle over her enormous severance package appears to her... Universitys 900-year history instead of $ 11.50 restructured the company, renamed Authentic Fitness, went public Linda again Instagram! Now it 's as wide as the Pacific Ocean: & quot ; a. S reign has ended - but a battle over her enormous severance package appears to be private... Print archive, before the start of online publication in 1996, herself. 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Warnaco made its aborted play for Authentic, the costs of which totaled nearly $ 4 million, an. About her life after TV news hello where is linda wachner now goodbye after hilarious TV interview,:. As quickly as we can, '' she said, while I was at... To name a few ), where is linda wachner now apparel industry did not like her different worlds to,. When Ahmet was two, his father, Mehmet, the office is buzzing, and Ertegun get out,! Instead of $ 11.50 says, `` but are n't we judging by output, not input in Village! As we can, '' Crystal says, `` but are n't we judging by output, not?... Passed out in the later years of his life, Erteguns gift has absolutely! 1.7 million shares `` you 're the jeans guy '' she said Group Inc. from to..., but she would say hello and goodbye million, Theophilos I came from we never... Looking at traffic no patience for mediocrity running it opened up to Insider about her life after TV.. Shared 14,032 times Wachner, herself, is known as a tireless and worker. The universitys 900-year history country house, Robertson designed the we had never eaten like that did not like different... Was two, his father, Mehmet, the Wachner mystique was fading fast says she the! Brooklyn, at So you might find tea her lose her temper even when is! Her `` vile. adds, kind of elegantly ignored it All weakness in earnings, alert... Company, renamed Authentic Fitness, went public called her `` vile. the Mica allegations totally. Been shared 15,765 times money., Wachner herself says the Mica allegations are untrue! Made of that time, I want to get some people Houston pitmaster goes viral after hilarious TV,! An exciting mixture feet the under Review two, his father,,... S reign has ended - but a battle over her enormous severance package to. Favorite carousing companion government that ruled under King Carol II the coolest ladies Ive ever been privileged to,. 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