Word: chicago
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Dates: during 1980-1989
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...numbers say so. Both sales and rentals of tuxedoes have split the seams since 1981. The American Formalwear Association reports that sales, which were at $65 million in 1981, hit $100 million in 1985. The Chicago-based Gingiss International, the nation's largest formal-wear rental chain, did $500 million in tuxedo rentals last year, up 50% from 1981. At New York City's Waldorf- Astoria, 60% of last year's banqueters showed up in formal gear, up from 45% in 1981. That means, according to the hotel, that 195,000 folks showed up at the Waldorf...
...tradition holds sway in tuxedo design. "You want to know what I think about those colored things? They stink," says Sy Max, owner of Baldwin Formals in Manhattan. "Our tuxes are for people not buying for fads," comments Jack R. McDonald of the highly regarded Oxxford Clothes in Chicago, whose basic silk model runs about $1,300. "Our primary market is the power structure of this country...
...necessary to be a board chairman to spiff up in a tux, however. "The tuxedo is a great equalizer," suggests Chicago Fund Raiser Sugar Rautbord. "It's hard to distinguish between the head waiter and a CEO." Bill Blass, whose traditional tux designs for After Six are among the industry's best sellers, brings the whole matter down to earth and into perspective: "Ultimately, it all stems back to women. It's the gal who wants to dress up, and the fellow has to go along." That's one reason Blass has been a success for so long; he knows...
That performance may not hold up in the long run, but the bottom line is clearly secondary for social-fund investors. "These funds serve excellent purposes for religious organizations, foundations and universities," says Jamie Goodrich-Ziegler, an associate editor of the Mutual Fund Letter in Chicago. "I wouldn't say go into them for a good investment, but go into them if you believe." More and more investors who worry about the social implications of their financial involvements seem to agree...
Several days before Mondale's defeat, Landow and two colleagues on the Democratic candidate's 24-member finance board, Lawyer William Crotty of Daytona Beach, Fla., and Real Estate Developer Thomas Rosenberg of Chicago, discussed keeping the group together. More than fellowship was involved. Michael Berman, the Mondale campaign treasurer, recalls that they wanted more influence on political strategy. For instance, they questioned Mondale's wisdom in promising a tax increase. "This was not a group of flaming liberals," Berman observes...