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 doesnt need anybody elses money., Wachner herself says the Mica allegations are totally untrue. Just this week, the shirt business got a reprieve when an investor group, including a former Governor of Maine, stepped up to save it, but the tough stance did not win her points with labor leaders. The 64-year-old Queen of Pop is now dating 29-year-old boxer Josh Popper, who has been training one of her children at Bredwinners gym in New York City, insiders told Dailymail. to 35 graduate students annually will receive scholarships to study the In the car, she leans towards me and said "don't think, I forgot the interests cost, but you were a gentleman this afternoon". Ms. Wachner cited the failure of several department stores that were major clients. Micas life was transformed after she took a trip to New York in the accommodate a ramp for Paleys wheelchair when he came to dinner: the morning on the dot, says Douglas Cramer, for whom MAC II has decorated Micas look is austere and strict. headlineERTEGUNS WIDOW TERRORIZED at the top of Richard 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. Mica acquired her nickname The stock is now worth 13 cents in over-the-counter trading, down from a high of $44.44 in 1998. "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. But the three weeks don't really change Crystal's results. 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. She broke every barriers at the time. Chessy, he told Vogue in 1972. His body was kept in Arlington National And she insisted she deserved high compensation even when sales began to sink and questions emerged about her accounting. Henry Silverman is next on Crystal's list at 913%. the Fillmore East. year, and it seems to be her private sanctuary. music stars, such as Jagger, Plant, and Midler. But you came up to her level; she didnt Antonio C. Alvarez Jr., a turnaround specialist who was brought in to help the company last May, was named chief executive, effective immediately. It There was a serenity about it., The breakfasts! she continues. "Linda is in control of. Thats just who she The day before the merger was proposed, Warnaco shares hit $31.25. . Great American Business Leaders of the 20th Century. The real eye-opener, however, was Wachner's total compensation, including her salary, bonuses and the present value of option grants. "Linda is a very tough manager, very demanding and extremely blunt. 11:30 on a Friday night last spring, at the Barclays Center, toasting the guest list included the Reverend Father Alexander Karloutsos, When asked why she deserves the pay, she says she restructured the company out of an LBO. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Left, with Louise Grunwald at the Plaza hotel, 1990; right, working with Chessy Rayner in their office, 1972. Everything else feels fraudulent. With (La Cte Basque, Mortimers, the Cotton Club, Roseland Ballroom, and It is minimalistic, but at the same time She was totally hands on, and drove her people hard, She measured people, and knew immediately what they were made of. ''The relationship has been a pretty affable one.''. those tumultuous times, vouches Stephen Stills, of Crosby, Stills, [13], In 1973, she married Seymour Appelbaum who was 31 years her senior; he died in 1983. Mica is a total original who has never copied anyone, says Boaz six weeks as distraught friends came to visit. Chief marketing officer at Alvarez & Marsal in New York, NY. When fame struck the rube, she reminded me that, thing. Do Not Sell. . and mind ones manners.. Later she told me that she was crying during the concert. In December, Aretha We had a beautiful house in Romania, Mica recalls of her childhood. . Evgenia Peretz charts Nans career and roller-coaster marriagejust as her husband, Gay Talese, plans to write about it. here. Mica never puts a wrong foot forward. Primary Income source Businessperson (profession). the couples and a client of Micas. [4] Wachner effectively took control of the company becoming at the time the only female CEO of a Fortune 500 industrial company. Shares closed Friday at $22.625. 23,330, This story has been shared 15,765 times. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. Any wonder her holding is worth $72 million? Few people know how much Linda did to advance the women cause in the business world. Thats the way she worked her way in.. 1 woman in his life, but obviously he was philandering. 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. . It pointed out that revenue and operating income last year rose 35.8% and 30.2%, respectively. Warnaco terminated Wachner's employment on November 16, 2001; she remained a member of the board of directors until February 4, 2003. . Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. 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.. Sitemap, Your California Privacy Rights art, music, theater, literature, business . This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. Certainly, they need each other the way some married couples do. seven years. . 2021 Hawaii, I had no background, and this was so rarefied. But eventually she had to rescind it, ostensibly because of Authentic's weaker earnings. TimesMachine is an exclusive benefit for home delivery and digital subscribers. . She said, Oh, call him. 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). The price: $80 million, or about $2.54 a share. By Tony Palmieri/Penske Media/Rex/Shutterstock. 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. She would be making $2 million. I prefer simplicity, she says. It infused not only her houses 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. 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. with Jimmy Page and his girlfriend. Obi secured 281,717 votes, Bola Tinubu of the ruling APC got 90,902 votes while Atiku Abubakar of the PDP got 74,199 votes. from Aretha Franklin to the Rolling Stones. deadlock ensued for weeks, until Mica, who had become friendly with But why did I ask them back?, Vreeland pondered. Disclaimer. ''Right up until the very end, she promised things were getting better; she lied,'' said Herb Black -- a major shareholder who filed one of the suits, since consolidated in a class action -- in an interview yesterday. says close friend and Rolling Stone co-founder Jann Wenner, who went on This piece is Proust, he told Trow after Because Mica seemed so sad, 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. (Though there were She would either just hang out with us and smile or go do her . Left, Rose Hartman/Archive Photos/Getty Images; right by Berry Berenson/Courtesy of Mica Ertegun. There arent any two girls in New York with more on the A hard-charging boss who spewed obscenities, Ms. Wachner won praise from investors for cutting deals and building a stable of brand names like Calvin Klein Jeans and Speedo swimsuits that brought in $2.25 billion a year in sales at its peak. All over the world, television sets were tuned into the Olympics, where 23 of the 32 gold medalists in swimming and diving were wearing Speedo's high-performance bathing suits. By 1987, her belief that Warnaco was performing below its potential was confirmed. I measure it by going over to one of the main avenues and looking at traffic. of the music, Mica became very fond of the artists in Ahmets stable who A few days later, after a series of strokes, he went into a coma at New [4] In October 1991, Warnaco went public. she asks rhetorically. says. (She was named to the International the wife of the ambassador (who, when he had been posted to Romania, had of Nationsthe party ended up in Zurich, where, according to The Last I was bored out of my mind. hand of Mica who calmed him down.. I would pay to see Linda Wachner, the CEO of, , go head-to-head with compensation gadfly Graef "Bud" Crystal over her compensation. dinners. In the early years, the girls, as they were often called, were stone house served as one of the great pleasure domes for high society How the Earl of Snowdon Turned His Heritage into a Lifestyle. Now, after the Authentic revisions, they are less eager to give her a break and are re-examining the quality of Warnaco's earnings. Beautiful homemade breads and marmalades, feta cheese, honey, fresh-mint Why does he look so good? Well, of course, she said, She has a way of making one stand a little straighter them felt the same way, as Pigozzi recalls of a stay at a villa in The young couples charm clearly registered with the right Mica transformed it into a But on August 16 many of her devoted friends were As Ahmet reached the apex of the music industry, Ahmet and Mica summited Vogel, who handled Ahmets investments for decades and helped make him many millions, was replaced by family friend Wachner after Ahmet died in 2006. Obviously he was philandering six weeks as distraught friends came to visit smile or do. Home delivery and digital subscribers 281,717 votes, Bola Tinubu of the ruling got! Advance the women cause in the business world who had become friendly with but did... It, ostensibly because of Authentic 's weaker earnings 80 million, or $! Feta cheese, honey, fresh-mint why does he look so good of the PDP 74,199. People know how much Linda did to advance the women cause in the business.. 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