Word: weinberger
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...much WorldCom stock that they lost $250 million in its collapse.) In any event, the settlement could influence penalties in other high-profile cases, such as the shareholder suit against Walt Disney Co. directors over the $140 million paid to former president Michael Ovitz. Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware, says the WorldCom deal could have a "chilling effect" by making it tougher to recruit directors. Elson himself is on three boards and says the settlement "creates some introspection" as to whether he should continue. Still, many applaud. "The only chill...
Is Serge Weinberg a genius or a madman? That question is riveting the gossipy fashion industry and investors in Pinault-Printemps-Redoute (PPR), the $20 billion French company that Weinberg has been transforming over the past decade into a European retail and luxury-goods powerhouse. Three years ago, the CEO won a fierce battle to acquire iconic fashion group Gucci for $9 billion. Then, earlier this year, he allowed Gucci's creative director, Tom Ford, and its chief executive, Domenico De Sole, to walk out the door after the collapse of talks to renew their contracts. Weinberg tapped Robert Polet...
...fashionistas are shocked, shocked. But Weinberg adamantly defends his strategy. "A brand is much more important than the designer," he insists. It's a controversial thesis, and whether he's right won't be clear for months. But Weinberg is used to taking gambles. A graduate of France's élite Ecole Nationale d'Administration, he gave up a safe career in government to become an investment banker before moving to PPR in 1992. At the time, the firm was a messy grab bag of French-focused industrial and retail companies. Weinberg masterminded the shift to luxury. "The demonstration needs...
Besides, it's easy to see the anthropic principle as an explanation of last resort. When he first began looking at it back in the late 1980s, particle theorist Steven Weinberg of the University of Texas hoped the anthropic principle might go away. But the opposite happened. "It's not something that we're particularly happy about," he says. Every physicist dreams of being able to calculate everything from a set of fundamental laws. But at the same time, Weinberg says, "it's important to be realistic. We may just have to get used to the fact that some...
...zebra-striped dresses. But the loudest buzz of the week was in the foyer of the Hotel Diana, waiting for the Gucci show to get started. As waiters served martinis under a huge orchid-covered chandelier and the honchos from Gucci owner Pinault-Printemps-Redoute, including CEO Serge Weinberg and new Gucci Group CEO Robert Polet, mingled in the crowd, the chatter was all about how Tom Ford's replacement, onetime Gucci design director Alessandra Facchinetti, would fill her former boss's big shoes. As it happens, Facchinetti had also been bitten by the travel bug, offering Indian-inspired sari...