Luxe Life
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Dallas Mavericks Owner Mark Cuban Fined for Twitter Comments
Continue reading… 34 CommentsThe NBA's true maverick has been fined $25,000 for his recent comments on Twitter. Dallas Mavericks owner Mark Cuban recently used the social networking tool to voice his anger at league officiating after Friday's loss to the Denver Nuggets. Cuban's "tweets" referred to an altercation between Nuggets player J. R. Smith and Mavs player Antoine Wright.
First post (7:25 p . m . , March 27):
how do they not call a tech on JR Smith for coming off the bench to taunt our player on the ground ?
Second post (10 minutes later):
scary part of that play: Same crew chief from game in Denver where they missed call - last play of the game & 1st JRSmith/Wright issue.
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Aaron Spelling's $150 Million House for Sale
Continue reading… 11 CommentsIf you want to burn a measly nine figures on a new home, now's your chance. Candy Spelling, widow of Aaron Spelling, the legendary TV producer, is putting her Los Angeles estate on the market for $150 million—the most expensive home for sale in the United States.
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François-Henri Pinault on Sustainable Luxury
Continue reading… 2 Comments"Sustainability" and "luxury" are no longer mutually exclusive. Consumers not only seek enduring value; they want to know how the product is made. Were animals hurt in the process? Are the fabrics organic? Is this jewelry recycled? These are just some of the questions consumers are asking as they increasingly look for brands that embrace environmental and social issues.
François-Henri Pinault, chairman and CEO of PPR—home to luxury brands such as Gucci, Yves Saint Laurent, Bottega Veneta, and Alexander McQueen—recently spoke at the 2009 IHT Sustainable Luxury Conference held in New Delhi. Here's some of what he had to say about the sustainable luxury movement:
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Williams-Sonoma: Profits Plunge 90 Percent
Continue reading… 0 CommentsWith the housing slump and tight credit markets reducing demand for home furnishings, high-end retailer Williams-Sonoma Inc. said its fourth-quarter profit plunged 90 percent.
The San Francisco-based company, which operates retail chains Williams-Sonoma, Pottery Barn, and West Elm, reported fiscal fourth-quarter net income of $12.2 million, or 12 cents per share, down from $124.6 million, or $1.15 per share, a year earlier.
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JPMorgan Dismisses Jet Scandal Reports
Continue reading… 2 CommentsLast week's AIG bonus-gate fueled the populist fire, and today's jet scandal involving JPMorgan Chase & Co. is inarguably fanning the flames. ABC reported this morning that JPMorgan—beneficiary of $25 billion in TARP funds—plans to spend $138 million for two new luxury corporate jets and a new aircraft hangar. But the investment bank dismisses the report and denies any plans to purchase new jets or renovate the hangar. That is, until after it has paid off the bailout money.
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Justin Timberlake to Launch New Tequila Brand
Continue reading… 5 CommentsJustin Timberlake has another venture to add to his already lengthy résumé: launching his own brand of tequila. The award winning singer-songwriter, record producer, dancer, actor, restaurateur, owner of a clothing line, avid golfer, and philanthropist is calling the tequila 901, referring to the area code for his hometown, Memphis.
The new brand is not only an homage to where Timberlake grew up, but "901 is that time of night when your evening is ending, but your night is just beginning," Timberlake's spokesperson said in a statement. The liquor will be available in stores in early May in St. Louis, Las Vegas, New York, and Los Angeles.
Timberlake is following in the footsteps of other music artists who've added a clothing line or liquor line to their business portfolios. Hip-hop artist Jay-Z owns Rocawear clothing and endorses Heineken, and Sean Puffy Combs promotes Ciroc vodka and owns Sean John clothing.
Timberlake's clothing line, William Rast, launched in 2006. He also has his own record label, Tennman, a joint venture between Timberlake and Interscope Records.
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Jaguar, Buick: Rated Most Dependable by J.D. Power
Continue reading… 2 CommentsWith consumers increasingly tightening their purse strings and putting off big-ticket purchases, car owners are electing to keep their current vehicles instead of buying brand new. This means that a car's reliability and durability are more critical than ever.
J.D. Power and Associates' influential "2009 Vehicle Dependability Study Results," released today, focuses on problems experienced by owners of 2006 model-year vehicles. The study provides information gathered from over 46,000 original owners and covers a total of 202 problems, broken out into eight categories: exterior; the driving experience; features, controls, and displays; audio, entertainment, and navigation; seats; HVAC; interior; and engine and transmission.
Who topped the list? Luxury carmaker Jaguar tied Buick for the No. 1 spot, ousting Lexus, now in the No. 2 spot, followed by Toyota, Mercury, Infiniti, and Acura. Suzuki, Volkswagen, and Land Rover rounded out the bottom three brands on the list.
"Making improvements in long-term quality not only satisfies customers who are holding on to their vehicles longer, but it will also influence their decisions when they return to the new-vehicle market or are seeking to purchase a preowned vehicle," David Sargent, vice president of automotive research at J.D. Power, said to the Detroit News.
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AIG Bonus Recipients' Names Revealed
Continue reading… 19 CommentsPitchfork populism is all the rage these days. Take the Nationwide Chicago Tea Party protests that occurred late last month or next month's tedious planning for an even larger antistimulus movement, also known as the Nationwide Tax Day Tea Party. Discourse that claims to support "the people" over "the elites" has reached a high-pitched level as details about the $165 million payout for top executives at the ailing AIG have emerged over the past few days. And for many Americans—whose thoughts of their tax dollars falling into the hands of AIG's top executives have them downright furious—there's now something else to bite into: the names of some of the executives in the financial-products unit who accepted the bonuses. According to the New York Post , they all happen to live in Connecticut!
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Feds Seek to Seize Ruth Madoff's Assets
Continue reading… 3 CommentsFederal prosecutors want disgraced financier Bernard Madoff and his wife to forfeit more than $90 million worth of assets, including homes, boats, cars, and securities. A filing in a U.S. district court in New York on Sunday outlined several fixed and liquid assets ordered seized by prosecutors:
- $17 million in cash
- $45 million in municipal bonds at Cohmad Securities Corp.
- $2.6 million in jewelry
- $39,000 Steinway piano
- $65,000 in silverware
- $11 million home in Palm Beach, Fla.
- $7 million Upper East Side penthouse apartment
- $3 million home in Montauk, N.Y.
- $1 million villa in Cap d'Antibes in southeastern France
- $10 million for three boats
- $7 million Leopard yacht
- $2.2 million fishing boat in Florida
- Four cars, including a BMW and two Mercedes
With the exception of the Long Island home, all of the properties—as well as the cash and securities—are solely in Ruth Madoff's name.
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Dockers Unveils Shakable iPhone Ad
Continue reading… 1 CommentEveryone talks about the iPhone's ridiculously cool applications—iBlackjack, Merriam-Webster search, Tic-Tac-Toe Squirrels vs. Chipmunks!—but now there's a new marketing experience that's sure to be the latest iPhone craze. Using the phone's popular motion-detection feature, apparel maker Dockers San Francisco believes it has created the first "shakable," motion-sensitive ad.
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Neiman Marcus Posts Quarterly Loss
Continue reading… 0 CommentsLuxury retailer Neiman Marcus posted a net loss of $509.2 million for the 13 weeks that ended January 31—compared with a profit of $44.3 million in the same period last year—reflecting a holiday season when some of the wealthiest consumers reined in spending.
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Travel + Leisure Golf Folds
Continue reading… 1 CommentTravel + Leisure Golf has found itself in a sand trap. American Express Publishing has decided to shut down the print edition of the 11-year-old magazine, which features articles on golf destinations, celebrity profiles, and golf deals. The magazine's advertising pages were down 13.9 percent in 2008, according to the Publishers Information Bureau.
"While the award-winning editorial product has enjoyed a loyal and passionate following, the current advertising climate has severely impacted the magazine's bottom line to where the short-term and mid-term prospects for the magazine are not viable," President and CEO Ed Kelly said in a statement. Travel + Leisure Golf will close with the March/April issue.
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<em>Real Housewives of New York City</em> Star Charged With Assault
Continue reading… 39 CommentsWhen the second season of Bravo's The Real Housewives of New York City debuted last month, the reality show welcomed a sixth housewife, Kelly Killoren Bensimon. A montage of the 40-year-old mother of two showed her juggling a plethora of careers: designer, columnist, editor, and equestrian, appearing more accomplished—even cavalier—than the rest of the cast. Now the former model and longtime fixture of the Hamptons social scene has been charged with assaulting her boyfriend, 30-year-old Nicholas Stefanov.
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Yelp Controversy: Online Rating System in Question
Continue reading… 9 CommentsYelp is one of my favorite user review websites. Because it attracts thousands of aficionados of food and drink, I find it especially useful when I'm thirsty for a new restaurant in my area. Contributing users often write thoughtful, prolific reviews about a wide range of local businesses, from hairstylists to mechanics. And it's growing at a brisk pace: Yelp, founded in 2004, had 6.8 million unique visits in January, up from 3 million uniques a year earlier, according to comScore. Its two main competitors, Yahoo Local and CitySearch, boasted twice as many uniques but grew at a much slower rate.
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ABC Finds Humor in Wall Street's Collapse
Continue reading… 1 CommentNew York City Mayor Michael Bloomberg sent a grim message earlier this year when he said that 46,000 financial workers might lose their jobs and that Wall Street's losses could total $60 billion to $70 billion by the second quarter of 2010. Adding insult to injury, brokers and bankers are increasingly fleeing the Big Apple and relocating their families and talent to areas such as Virginia, Chicago, and even Asia. This is no laughing matter, of course, but the ABC television network hopes that two new comedy pilots about Wall Street will get Americans to think otherwise.
One untitled pilot stars Kelsey Grammer, who plays a Wall Street millionaire toppled by the financial meltdown. He'll have to start caring for a family that he rarely spent time with during his high-powered career.
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Luxury Blog Roundup
Continue reading… 0 CommentsHere's what's happening in the world of luxury blogs:
Fiat Centro Stile and Mattel have joined forces to offer a new Fiat 500 model dedicated to Barbie, which celebrates the iconic fashion doll's 50th birthday. Beware of the shockingly bright pink color. [Luxuo]
Tennis great Lindsey Davenport is selling her Southern California estate for a mere$5.5 million. The Ventura home overlooks the ocean and has 2,000 square feet of living space—plus tennis courts, natch. [Blavish]
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M Resort Opens in Vegas
Continue reading… 6 CommentsThe chips have been down this year for Las Vegas casinos: fewer visitors, shorter trips, and less gambling. Hotels are struggling to fill rooms and restaurants. But despite the sinking economy, Las Vegas officially welcomed the M Resort, Spa, and Casino, which opened on schedule earlier this week.
The key to survival in a tough economic environment, says Anthony Marnell, CEO and chairman of the $1.8 billion resort, is offering outstanding customer service and lower room rates. A resort room with a mountain view will go for $54, while a 1,440-square-foot suite runs $354. Suites with views of the strip will begin at $74.
The M Resort, in Henderson about 10 miles south of the Las Vegas resort corridor, is expected to draw traffic from locals and people driving in from California. The resort has 390 guest rooms and 39 suites, nine restaurants, five destination bars, and more than 60,000 square feet of meeting and conference space. Gamblers get over 92,000 square feet of gaming, with 1,800 slots and video poker machines, 64 gaming tables, a 12-table poker room, and a race and sports book.
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Apple's iPhone: Bust in Japan
Continue reading… 13 CommentsConsidering they have pioneered the color television, VCRs, a car that runs 100 percent on water, and mini-me robots, it's no surprise that Apple's iPhone is just too prosaic for the Japanese. In fact, the iPhone is such a failure, it's practically being given away.
According to Wired , Japanese carrier SoftBank this week launched the "iPhone for Everybody" campaign: Consumers receive an 8-GB model of the iPhone 3G in exchange for agreeing to a two-year contract.
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Top 50 Most Admired Companies
Continue reading… 0 CommentsFortune magazine released their annual list of the world's most admired companies. To create the list, global management consulting firm Hay Group asked 4,047 executives, directors, and securities analysts who had responded to industry surveys to select the 10 companies they admired most. The list includes companies that finished in the top 20% of their industry, as well as those that ranked in the top 25% in last year's surveys.
