Word: bilzerian
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Sentencing consultants are poised to be the quintessential post-'80s growth industry. Paul Bilzerian, nabbed for securities fraud and tax evasion, hired one to help him reduce a four-year prison sentence by performing community service at a boys' club. A consultant was instrumental in advising Miami moneyman and convicted tax cheat Victor Posner on his offer to establish shelters for the homeless in lieu of prison time. Onetime Wall Street legal eagle and insider trader Martin Siegel asked for and received the chore of running a children's computer camp. Securities fraudster Michael Milken is awaiting court approval...
...branch of the large Italian textile company that manufactures and distributes such lines as Armani and Joseph Abboud throughout the U.S., estimates that it has cornered 20% of the higher-priced men's market (anywhere from $800 up), about double its share of only five years ago. Says Alan Bilzerian, who sells his own line of stylishly quirky and comfortable men's wear from his Boston store: "The guy who's going to buy a traditional supersonic suit is not looking for something cheap. He's going to buy a very hand-tailored-looking garment. It can be a straight...
...shot, a Bilzerian suit can have a subtle sense of playfulness. There is nothing funny at New York City's Henry Stewart, where neither the prices ($3,500 to $4,500) nor the styling ("the Savile Row look") are good for laughs. Stewart, who made some of the smart costumes for Brian De Palma's upcoming film version of The Bonfire of the Vanities, says the demand for his suits with "a very smart, small waist, nice and snug off the hips with a full chest," is "increasing, but we just haven't got the men to meet it. There...
...high end of men's fashion prospers and the middle ground looks for new style and stability, the only fashion constant is flux. Bilzerian talks about suits in shades of aubergine and pine green; even Hart Schaffner & Marx's Hoffman waxes evangelical about pleated pants as "a major fashion direction." To hear him tell it, it's only a matter of time until the Hartmarx man looks like a second cousin to the Duke of Windsor: "British is hot right now. You're going to see more 11-in. side vents, ticket pockets . . ." Could it be the beginning of another...
Since then one reversal after another has hit Bilzerian and the company. Sentenced in August to four years in prison for violating tax and securities laws in previous raids, Bilzerian is appealing that conviction. Singer, renamed Bicoastal after Bilzerian sold eight of twelve divisions to meet $120 million in annual interest payments, sought refuge from creditors last month by entering bankruptcy court. But management is no longer his concern: he resigned as Bicoastal chairman last summer after his criminal conviction...