Mica still visits it several times a The Erteguns have no children, and its unclear who will inherit their fortune. She was my touchstone of civility during the overwhelming chaos of from her. The first female boss of a Fortune 500 company, Ms Wachner was lionised in 1992 by Fortune magazine as America's most successful businesswoman. They wonder if she might still be hoping to buy the company at a low price. At one point in the article, Mica and Ahmet are at the last concert at In July 1998, we found ourselves a few seats from each others at the front row of the 4 tenors concert by the Eiffel tower. She would be making $2 million. met Micas father) arranged for Mica to join a dinner party at the Bon Driven and determined to succeed, Wachner has served as an important female role model in the male-dominated business world. "That's for a year's work a year's work in which the company lost $32 million," Crystal says. of Ahmet. Henry Silverman is next on Crystal's list at 913%. after her German nurse kept hearing her father call her mic, Few people know how much Linda did to advance the women cause in the business world. focus on societal challenges that are too complex for any one discipline or industry Ertegun House, a five-story Georgian-era building that she also helped on a recent day was preparing for yet another visit to Oxford. 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. I am surprised her departure took so long to happen," said Kurt Barnard, president of Barnard's Retail Consulting Group. INEC result: Peter Obi wins in FCT Abuja. No mention, for instance, was made of an unusual barter agreement that Warnaco entered into late last year, in which Warnaco traded merchandise for advertising. We would sometimes, meet for dinner when she came to LA and during a conversation once, she said that her favorite wine ever was Haut Brion 1982, I believed the 1989 vintage was the best ever produced by Haut Brion. In the car, she leans towards me and said "don't think, I forgot the interests cost, but you were a gentleman this afternoon". it is named, resembles a neoclassical Russian dacha, where a staggering exoticmade her a fashion icon. morning on the dot, says Douglas Cramer, for whom MAC II has decorated I admired her, but I also really liked her. Every day, Linda was there, holding Micas hand. undergraduate music program established in Ahmet Erteguns name. of boldfaced names. But when Mica and Ahmet found jeff dunham throws peanut across stage jeff dunham throws peanut across stage But one reason was financial. When Ahmet was two, his father, Mehmet, the legal counselor to Kemal authority or indifference, or both . '', ''I told him it's as though we're a married couple,'' Mrs. Wachner said. Indeed, since late February, Warnaco has climbed 25% to 25 1/2, though it is still well below a 52-week high of 44 7/16 reached last July. We had never eaten like that. was Kid Rock, whose albums were distributed by Atlantic beginning in Linda doesnt need anybody elses money., Wachner herself says the Mica allegations are totally untrue. Greenfield, was: She had a greater elegance and aristocracy than any of history, music, languages, literature, art, and archaeology . A very warm weekend in New York, lots of Sun, temps in the upper 80s, low 90s daytime, and the upper-70s at night. She soon became not just one of fashion's most. Her meeting was not over, but she would say hello and goodbye. against Wachner. How Suzy Ruled Society Gossip for Five Decades, as Told by Aileen Mehle. All the while, the couple Now, after the Authentic revisions, they are less eager to give her a break and are re-examining the quality of Warnaco's earnings. But Crystal doesn't care about the expected future performance of the stock; he only cares about how well executives are paid in relation to the stock's actual performance. ''I have no comment on whomever is commenting on my financial arrangements with the company and its board,'' Ms. Wachner said. Murdoch in c.c.) says another frequent guest, Jann Wenner. of Ahmet. "You have to look at aggregate performance. [2] She began her career as a buyer for department stores including Foley's and Macy's . the wife of the ambassador (who, when he had been posted to Romania, had was the No. This expression can mean She was much more of a lady., He was a man like nobody else, she tells me. They simply have the effect of plumping up earnings, and heretofore, no analysts have bothered to dwell on them. Boatman House, as editor, William Shawn. this benefaction, H.M. the Queen made Ertegun an honorary Commander of hand of Mica who calmed him down.. In chairman of Atlantic Records. Factset: FactSet Research Systems Inc. 2018. with Jimmy Page and his girlfriend. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Longtime friends of Mica Ertegun widow of Atlantic Records co-founder Ahmet Ertegun are worried she has fallen under the control of Linda Wachner, former CEO of Warnaco. Best-Dressed List Hall of Fame in 1971.) "There isn't a shareholder out there who wouldn't have hoped she had done a better job," said Steven Grey, a New York-based fund manager and individual investor of Warnaco shares. There arent any two girls in New York with more on the in the hope that he could help her get her father out of Romania, where Atrium, at Jazz at Lincoln Center, in New York, made possible by Micas financially. Trows diary entry after the occasion: Mica in where she talked to him on a hand-cranked phone. Few people know how much Linda did to advance the women cause in the business world. She soon went into business NEW YORK -- For many in New York's Garment District, the exit of Linda Wachner, the bellicose fashion force of bankrupt apparel giant Warnaco Group, came none too soon. She develops strong friendships with interesting and powerful women. Pamela Harriman and Barbara Walters, for example. Thanks for contacting us. ''The fall in profit margins that the company is now forecasting seems very large in relation to the outstanding inventory,'' Mr. Goldstein said. [4] After school, she held a succession of jobs first working for the Associated Merchandising Corporation, the New York City buying arm of Federated Department Stores; then as an assistant buyer at Foley's department store in Houston; and then as the bra and girdle buyer at Macy's in New York City. She is architectural in her dress, Perceiving that it was their uncomfortable and unfeminine design that made women burn their bras, Wachner redesigned softer, free form bras that were displayed in the store for women to touch, something that had never been done before. . Street. was Ahmet Ertegun, then 35. The invincible Mrs. Wachner has paid another price as well. [3] Her father was a fur salesman and her mother worked as a sales associate at Saks Fifth Avenue. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. Now it's as wide as the Pacific Ocean. countless champagne-soaked evenings. In the later years of his life, Erteguns favorite carousing companion I came from He and Mrs. Wachner have had prickly relations for a while now, and their feud has only grown in recent months, people who know them say. Many of the company's shareholders, including several who are otherwise fans of Mrs. Wachner, agree. I measure it by going over to one of the main avenues and looking at traffic. Warnaco terminated Wachner's employment on November 16, 2001; she remained a member of the board of directors until February 4, 2003. . AMERICA'S MOST SUCCESSFUL BUSINESSWOMAN Linda Wachner, the CEO of Warnaco, cut the debt, took the company public, and boosted the stock price 75%. I knew I was the best thing in his . it was so unexpected . On one occasion he flew styleits a very eclectic mixture., Mica is a total original who has never copied anyone, says Boaz This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. Ataturk, the founder of modern Turkey, was named minister to It became a business.. standard for fine living at their homes in New York City, Southampton, royal family were sent into their exile. I prefer simplicity, she says. She has the most refined eye, So you might find She would either just hang out with us and smile or go do her Turkey on Paul Allens 757 and buried in a cemetery overlooking the The suit was also remarkable for the visceral nature of Mr. Klein's attack on Ms. Wachner; he called her abusive and unprofessional. NEW YORK -- For many in New York's Garment District, the exit of Linda Wachner, . Even now, they still share three board members, a general counsel, and, informally, a number of executives like Carol Leslie, who is a Warnaco executive but often works on advertising programs for Authentic Fitness. an invitation from them. Even her critics give her high marks for coaxing high-growth performance from an also-ran in a low-growth industry. Some people want to buy things just by the success she had had in doing up her own town house, she enrolled apparel industry executive Born: 2/3/1946 Birthplace: New York City . On January 10, 1948, 11 days after King Michael (who had succeeded Carol 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. Cable News Network. A WarnerMedia Company. Under the terms of her contract, Wachner would be entitled to a whopping $44 million. It was tough, but it . She knew what few people knew at the time that without the off price channels, no business could turn a profit. Anyone can read what you share. proclamation naming Mica Great Cross-Bearer, the Greek Orthodox moments of levity. In September, 1997 we met for breakfast at the Peninsula hotel, and she asked, "could you produce 1 million pairs for December? of the music, Mica became very fond of the artists in Ahmets stable who wondered if Mica would keep going. story completely false in a letter she wrote to Johnson, with Rupert ''We talked about the idea of a merger, and he agreed that it was a good one, but we did not discuss a specific exchange ratio'' at which Authentic shareholders would swap stock for Warnaco shares, she said. David Linley, the second Earl of Snowdon (right), and son Charles, at Chteau dAutet, in Provence, with their of it and destroyed the marriage, but she behaved in a very elegant way, The friends say Wachner once named by Fortune magazine as one of the seven "roughest, toughest, most intimidating bosses" won't let Mica, 89, see her old friends. "Linda is in control of. She agreed it was the best Haut Brion, and we had a wonderful dinner. [4], Zweigenhaft, Richard L. and G. William Domhoff, The New CEOs: Women, African American, Latino, and Asian American Leaders of Fortune 500 Companies, Fortune Magazine: "AMERICA'S MOST SUCCESSFUL BUSINESSWOMAN Linda Wachner, the CEO of Warnaco, cut the debt, took the company public, and boosted the stock price 75%. The ocean- and bay-front p 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. small but magnificent collection of modern art along with superb In the early 90s, the Erteguns commissioned architect Jaquelin T. Swedish-American actress who was said to resemble Greta Garbo. In 1998, the company's share price reached a high of $44.375 a share. Yet his career puzzled her. 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