Word: stockings
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...Floriane de Saint Pierre was 6 years old, she would go with her mother at the start of every season to Yves Saint Laurent's boutique on the Avenue Victor Hugo, near their Paris apartment. "She was not buying anywhere else," says Saint Pierre, remembering how her mother would stock up on the designer's striped sweaters, wedge-heeled espadrilles and khaki trousers...
Whether the cash register is ringing up candles or evening gowns, Karan's business overall seems healthier than it has been in many years. After stumbling with a public offering in 1996 (the stock price plummeted as extra inventory built up in discount stores and staff layoffs broke in regular waves), the company was bought by French conglomerate LVMH in 2001. More recently, CEO Fred Wilson was replaced by Jeffry Aronsson, former CEO of Marc Jacobs. Aronsson says he plans to build on the improvements made by Wilson, who is credited with moving the business back into profitability by controlling...
...saved at least $45,000 by selling her shares when she did, for $58.43. A few days after the sale, Merrill Lynch compliance officials quizzed Faneuil about the transaction. He then conferred privately with Bacanovic, who insisted the sale had been made to help Stewart offset taxes on other stock gains. But when Stewart's financial adviser angrily complained to Faneuil that the ImClone shares had been sold at a profit and "screwed up" previous tax calculations, Faneuil went back to Bacanovic. At that point, he claimed, Bacanovic changed his story, saying that Stewart had a standing order to sell...
...Faneuil is the former assistant to Peter Bacanovic, Stewart's broker at Merrill Lynch and her co-defendant in the trial. For three days Faneuil electrified the jury with his tales of Stewart's abrasive telephone manner and his boss's frantic efforts to cover up a potentially illegal stock transaction. His performance was so riveting that at one stage the defense asked if he had taken acting lessons...
...figure. It's the ultimate gamble, and if she loses it, she could join her friend Waksal, who is imprisoned for securities fraud. In an ironic twist, Waksal's company, ImClone, the source of their troubles, has rebounded. Encouraging research on its colon-cancer drug Erbitux has sent the stock price back up to about $41, after it plunged to as little as $6 in the fall of 2002. This week, as federal prosecutors try to bottle up Stewart, another federal agency, the FDA, could release Erbitux for the public benefit...