Word: tailor
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...Despos, 39, the son of a Greek immigrant tailor, is the embodiment of the American success story. He learned to cut and sew at his father's knee, and five years ago he opened his own tailoring shop on one of the busiest crosstown streets in Fort Wayne, Ind. He quickly discovered that there was a bonanza in alterations. Says he: "People had lapels on old suits altered for $35 each instead of paying thousands for a new wardrobe." The first year his shop was open, Despos did $95,000 worth of business. Today he employs his father...
...elder Despos had come to Fort Wayne after World War II to open a tailor's shop, and his son started in the trade sweeping the floor after school. "It was a while before my father handed me a knife and even allowed me to open seams," he recalls. Although he always wanted to run his own business, he and his father clashed. Thus after studying business administration at the University of Indiana, Despos became a stockbroker. But a few years later he was back helping his father in the afternoons after the market closed. Eventually he accumulated...
...customer for three years, would have given him a mortgage last October with an interest rate somewhere between 13% and 14%. But the bank insisted on a 30% cash down payment and Despos could not afford it. The $52,500 cash outlay would have eaten up all the tailor's working capital. Since then mortgage rates have climbed...
...Inauguration, Reagan will be the first President since J.F.K. to wear formal morning attire. The selection, made by Reagan himself: an Italian-style black jacket of barathea cloth and striped gray woolen trousers with a three-button dove-gray vest, an outfit for which Reagan's Beverly Hills tailor, Frank Mariani, will charge him $1,250. Average rental price of a similar suit for Washington dignitaries: $42. The new President has no head for toppers. Nancy has a new mink in the closet, but may forgo it in favor of a Republican cloth coat. The Reagans' attire will...
...barbarians." Otherwise, wearing scuffed boots and faded blue work clothes, he spent the early part of last week at his ranch in the Santa Ynez Mountains. Aides said that Reagan devoted most of his time to questions pertaining to the transition. Those matters ranged from a visit to Tailor Frank Mariani of Beverly Hills, where Reagan had a final fitting for the $1,150 formal suit that he will wear at his Inauguration, to phone conversations with aides about pending Cabinet appointments and future policies...