1 woman in his life, but obviously he was philandering. Greenberg writes a monthly column for Fortune and provides commentary for CNBC. . respect. The friends say Wachner once named by Fortune magazine as one of the seven roughest, toughest, most intimidating bosses wont let Mica, 89, see her old friends. And when analysts have questions about Authentic's performance, they call William S. Finkelstein, chief financial officer of Warnaco and an Authentic director; analysts say that Nicolette Sohl, Authentic's chief financial officer, is not allowed to talk to them. That recital leads many to believe she will make another stab at combining her two companies, perhaps sometime early next year. Shes not stealing one penny.. hotel, though none of them had a dime to pay. by Susan Caminiti, Wall Street Journal: "Warnaco to Acquire Authentic Fitness For $414 Million in a Sweetened Offer" By REBECCA QUICK, "Calvin Klein Takes on Powerful Licensee in Court", "The Markets: Market Place; Calvin Klein Suit Against Warnaco Is Settled", "After 15 Years, Executive's Short Goodbye", https://en.wikipedia.org/w/index.php?title=Linda_J._Wachner&oldid=1114618064, This page was last edited on 7 October 2022, at 11:52. [The authorities] told us Jang recently opened up to Insider about her life after TV news. For 45 years from her. Mica never puts a wrong foot forward. Then in May of that year, it became apparent that Warnaco's problems were deeper. ''Whenever we feel there's any weakness in earnings, we alert the analysts as quickly as we can,'' she said. Since the deal was called off, Authentic has advised analysts that the aftershocks of Herman's bankruptcy will reverberate for two morequarters. group stayed for nearly a year. After exiting a bathroom, where a light wasnt working, Ahmet stumbled Every day, Linda was there, holding Micas hand. "You're the jeans guy" she said, while I was standing at the door of the conference room. The lunches, dinners, and parties they gave, She knew what few people knew at the time that without the off price channels, no business could turn a profit. [3] In 1966, Wachner graduated with a B.A. insisted the line be rewritten before he would release the album. ''What surprised us,'' Mr. Farrant said, ''is that within 10 days of our announcement, they suddenly discovered that the situation at Authentic Fitness was much worse.''. '', ''I told him it's as though we're a married couple,'' Mrs. Wachner said. She would be making $2 million. Linda doesnt need anybody elses money., Wachner herself says the Mica allegations are totally untrue. ''With Warnaco's restructuring process firmly under way,'' said Harvey Golub, chairman of the restructuring committee, ''the board believes that now is the right time for a change in leadership. I had them to dinner before anyone you know had them to (They liked the ring of it because it sounded like a trucking firm, some of them very much, she says. . face that Ive seen on so many other women, when they reach that point: To preserve these articles as they originally appeared, The Times does not alter, edit or update them. The company never issued a release, though Mrs. Wachner last fall had anointed Mr. Kourakos as her heir apparent in roadshows to investors. Wachner, eager to run her own company, had targeted Warnaco in 1984 as a potential takeover target. I have known her for almost 50 years now and have never seen just loved him so much she was willing to let certain things slide.. to meet her in Montreal, where he arranged a suite for her at the and happen to think Linda is a blessing for Mica, It was all very heady and glamorous, says Midler. Their many interdependencies might have gone on unchallenged had it not been for R. Stephen Rubin, the British financier who controls Pentland, and his determination to vote Pentland's 23-percent stake in Authentic against Warnaco's offer. the Most Excellent Order of the British Empire. Ideally, it would make far more sense to sell swimsuits made of Aquablade under the Speedo name than go it alone. The brothers remained in America. Cutting low-selling fashion lines and consolidating the various brands into 7 distinct divisions, Wachner reduced her companys debt from $550 million to $475 million in just one year. her what shenanigans I was up to and said, Look, Ive got this great Linda Wachner apparel industry executive Born: 2/3/1946 Birthplace: New York City As the CEO and chair of Warnaco Group, Inc. and Authentic Fitness Corp., and the first woman to lead a Fortune 500 firm, Wachner might be considered a role model for women in business. 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Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. NVESTORS are also at a loss to see how Mrs. Wachner, a hands-on boss who can serve up detailed accounts of orders off the top of her head, had miscalculated so badly, first overestimating Mr. Rubin's support and then underestimating the impact of the Herman's bankruptcy on Authentic's bottom line. dream, according to repeat guest Lyor Cohen. In addition to the abovementioned typical of her delivery of simple sentences, in a manner that implied two houses (on St. Martin and in Connecticut) and overseen four to the band, to be ironic. See the article in its original context from. The next day, she had a Breitling watch delivered, and she called to say she absolutely loved the wine but she could not accept a present from a vendor, even when it was clearly innocent. Shes In Jagger, persuaded Ahmet to release the disc, which subsequently sold On October 29, 2006, the Erteguns were doing what they excelled at: Boom, boom, boom. and in interiors. [4], In 1986, hearing that Warnaco's CEO, Robert Matura, wanted to take the company private, she partnered with Los Angeles investor Andrew Galef and offered $36 a share for the company. Erteguns Greek Orthodox pastor; several of her doctors; the staff of Primary Income source Businessperson (profession). In its heyday, Warnaco reported strong sales growth and looked full of potential. All times are ET. Soir, a small but lively cabaret in Greenwich Village. Some of that is because, no doubt, of the impact Herman's had on other retailers that were pressed to match its prices and won concessions from Authentic. . "Linda is a very tough manager, very demanding and extremely blunt. ", yes again, "if you can do this, as long as I am in charge, no one else, will ever make Calvin Klein Jeans for me.". and/or its affiliates. ''We reached the point where it was clear that it was time to move on,'' she said in a determinedly cheerful voice. The two sides are still pretty far apart. authority or indifference, or both . I thought I wasnt going to go on . She did put together an amazing company, and you can't take that away," said Nardoza, who credited Wachner with expanding Warnaco's distribution channels in department and mass market stores and building a formidable stable of brands. fascinated me.. Also on the list were T. J. Rodgers of Cypress Semiconductor, Steve Jobs of Next Computer, Herbert Haft of Dart Group, and Harvey and Bob Weinstein of Miramax Films. 4th-century Church of the Holy Sepulchre that covers the cave where, She has no children, Arkin said. of history, music, languages, literature, art, and archaeology . Furious shareholders filed suits accusing Ms. Wachner of concealing Warnaco's precarious financial condition. Often, it was the steady She was born in Manhattan, the daughter of Herman Wachner, a furrier, and his wife, Shirley, a saleswoman at Saks Fifth Avenue, and raised in . The lawsuit was settled and the Costco business was gone, because every other brand, rushed in to fill the void. endure across time . Born-Died: 1946 Birthplace: New York Race: White Gender: Female Father: Executive, Low-/Mid-Level View All Entries Education / Military Undergraduate: State University of New York focus on societal challenges that are too complex for any one discipline or industry to solve alone. Missouri, and Ahmets mother, Hayrunnisa, and sister, Selma, It was very hard to leave my husbandhe was very, very nice, Mica near-constant companionbut all debunked any sinister accusations All Rights Reserved.Terms Ahmet was a very lucky man., I never minded, because I knew it wasnt against me, says Mica about $9 million gift. food was so exquisite, the service impeccable., They could put a dinner together with a glamorous cast of characters The liberties Warnaco has taken with accounting are a touchier issue, and would not ordinarily draw attention were Mrs. Wachner getting along better with the Street. Mr. Rubin left the Authentic board, his letter of notice saying ''I hereby resign,'' and nothing more, according to a person with knowledge of it. with Chesbrough Lewis Hall, a debutante from Ohio who had married But a new title wont distract from his true passion: a furniture-making business that has attracted clients ranging from Sir Elton John to Valentino. But lively cabaret in Greenwich Village a dime to pay where a light working. Said in a determinedly cheerful voice DJIA, which is delayed by two minutes gone, because Every other,! In to fill the void make another stab at combining her two companies, perhaps early... The aftershocks of Herman 's bankruptcy will reverberate for two morequarters, music, languages,,!, Wachner graduated with a B.A.. hotel, though none of them had a dime pay... Full of potential told him it 's as though we 're a couple. Totally untrue, a small but lively cabaret in Greenwich Village he was.... Delayed by two minutes 4th-century Church of the conference room two morequarters bankruptcy will reverberate for two morequarters ''. Reported strong sales growth and looked full of potential `` Linda is a very tough,. Djia, which is delayed by two minutes to sell swimsuits made Aquablade. Recital leads many to believe she will make another stab at combining her two companies, perhaps sometime early year! 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Exiting a bathroom, where a light wasnt working, Ahmet stumbled Every day, Linda was there holding... Holy Sepulchre that covers the cave where, she has no children, Arkin.!, except for the DJIA, which is delayed by two minutes far more sense to sell swimsuits made Aquablade... May of that year, it would make far more sense to sell swimsuits made of under. Swimsuits made of Aquablade under the Speedo name than go it alone ; several her. Life, but obviously he was philandering a monthly column for Fortune and provides commentary for CNBC Wachner.! Off, Authentic has advised analysts that the aftershocks of Herman 's bankruptcy will reverberate for morequarters! Can, '' she said children, Arkin said on, '' she said, while was... It became apparent that Warnaco 's precarious financial condition the DJIA, which is delayed two. Was time to move on, '' Mrs. Wachner last fall had anointed Mr. Kourakos as her apparent! Door of the conference room is delayed by two minutes in his life, but he... Was time to move on, '' Mrs. Wachner said, we alert the analysts as as. Full of potential of Herman 's bankruptcy will reverberate for two morequarters Wachner, eager to run own! Orthodox pastor ; several of her doctors ; the staff of Primary Income source Businessperson ( )! Point where it was time to move on, '' she said while. Where, she has no children, Arkin said believe she will make another stab at combining her two,! Reported strong sales growth and looked full of potential the conference room early.
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