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...Time Warner Center in New York City wearing a sporty tan summer suit accented by a marigold tie with yellow socks to match. These days the real estate developer, art collector and former chef is having fun with fashion. As CEO of NRDC Equity Partners?the private-equity firm that bought Lord & Taylor?Baker is the proud new owner since October of America's oldest department store. And he's overseeing a makeover as bold as his brightly colored tie. To prove his dedication to the turnaround, he and his wife have made a pact to buy almost all their...
Despite the progress, not everyone has as much faith in the department store's future as Elfers and Baker do. "Lord & Taylor is a problem child, a tarnished brand, and has a long way to go," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting firm. "I am not sure, in the current competitive climate, that Lord & Taylor can stand on its own two feet and be a survivor." Davidowitz points to the fact that Baker paid top dollar for a minnow in a sea of powerful retail companies. The store is loaded with debt while seeking...
What she wants now are clothes to go with her heels. When she realized that all her favorite dresses were vintage Halston, she phoned her friend the movie mogul Harvey Weinstein, and they became investors in the Halston company, along with private-equity firm Hilco Consumer Capital, the majority shareholder. Although Mellon has promoted TV and movie product placement for Jimmy Choo with considerable enthusiasm, there's a chance to go further with Halston: she hopes Weinstein will supply the biopic. "A movie turns a brand into a household name. Fashion magazines reach a million, but this...
...He’s] keeping the team rolling, because there’s lots behind the scenes working as a captain,” Mazza says. “And he’s a firm leader, a nasty player on the field. But between the whistles, he’s a fair...
...they will look attractive to business school admissions committees.This is a worthy concern, and the 2+2 program is an innovative and exciting solution. The program, according to Kimmel, would specifically not seek to admit students who were already well on their way to an investment bank or consulting firm. With a place at HBS secured, such students will hopefully feel liberated to pursue more diverse interests, enriching both HBS’ incoming class the lives of its students.To help admitted students find jobs, the 2+2 program plans to partner with around 100 major companies. While these companies already...