We've already heard about rich people trying to hang on to their private jets in the face of global economic collapse. And we've heard how the chairman and CEO of Lehman Brothers, Richard Fuld Jr., is selling off his private art collection. Even the $50,000 tables at New York's fanciest benefits may be left empty come spring. And so the Wall Street Journal has posed a reasonable question: Is Bling Over? Francois Henri Pinault, the CEO of the PPR luxury group that owns Gucci, reportedly said a few weeks ago that the rich will always be rich. Still, Francesco Trapani, chief executive of the Bulgari Group, recently had to sell his 137-foot yacht. And Barry Sternlicht, the chairman and chief executive of Starwood Capital, told the Journal that he's "just waiting out the tsunami. That's what this is, a financial tsunami." And...
[read full story]
Your Web Site
