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...This article contains a table. Please see hardcopy of magazine or PDF.] OLD LUXURY NEW LUXURY Dubai Shanghai Thomas Keller's Per Se Bobby Flay's Bobby's Burger Palace Bugatti Veyron Fbg par Hermès Prada Hyundai Genesis Valentino's Gstaad chalet Karl Lagerfeld's Vermont hideaway Nancy Gonzalez crocodile tote Tod's neoprene Pashmy Art Basel scoutingforart.com Alexander McQueen ready-to-wear McQ Alexander McQueen for Target DayJet's Eclipse500 air taxi service JetBlue's new terminal at J.F.K. International Airport Invitation-only Yellowstone Club resort 5-star Wynn Las Vegas offering $109/night specials Cr?...
...positive take, if you can call it that, is that we're in a "rolling recession," as Kurt Karl, chief U.S. economist at insurer Swiss Re, said in a note to clients. "First the housing market tanked, then consumer spending plummeted, now business investment is nose-diving." Hey, at least it didn't all happen at once! Peter Morici, an economist at the University of Maryland's Smith School of Business, offered a gloomy scenario: "Lacking confidence that the demand for what Americans make and sell will recover significantly anytime soon, businesses are girding for a long siege - slashing employment...
...Afghanistan, however, is far away from the North Atlantic region where NATO pledged to keep the peace, and the Alliance is staking its credibility on a war in which Western forces are struggling. "The Taliban does not accept defeat, so how can you win?" says Karl-Heinz Kamp, director of the research division of the NATO Defense College in Rome, which trains all ranking NATO officials and diplomats. "NATO might not be able to lose or win in a classic military way," he adds...
Some designers don't mind the Krystle Carrington references, while others claim the new look isn't a throwback. "I hate to call it '80s," says Karl Lagerfeld, who showed sculpted shoulders for Chanel. "It's more about a flawless look. It's about cut, quality and the silhouette." Whatever it is, just don't make Tess McGill's mistake and pair the new power suit with sneakers...
...that his gift is "to design and to create dresses. I always did this. I am not capable to do anything else. I am a disaster in everything else." In his climactic show, which everyone seems to know is his last, his admirers shed tears as they congratulate him. Karl Lagerfeld, another king designer-dinosaur, tells Valentino, "Compared to this, the rest of us are making rags." Shortly after the show, Permira announces that the 35-year-old Alessandra Facchinetti will be the new couturier for the house of Valentino...