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Non-Tech : Donna Karan
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To: Sam who wrote (59)6/18/1997 4:55:00 PM
From: EK   of 114
 
Good Move! I too have faith in Ms. Karan. She built a business selling sizzle, not steak. She knows the image market and how to manipulate it very well. I suspect the pull back on her stock has much to do with the recent stockholders meeting -- many are just throwing in the towel. She has taken severe punishment for her performance to the shareholders and the comparisons in WWD between her performance and Ralph Lauren's were painful and cutting -- something Ms. Karan is unaccustomed to. When her stock's performance takes over center stage and eclipses her clothing line, she has no choice but to act. She must refocus media attention back to her clothes and not her stock . By the way, the CEO search is just nonsense -- something to appease the stockholders. Actually the position is a Co- CEO, who will actually report to Ms. Karan-- a highly paid assistant to take care of the operational stuff. For a scenario as to how the Co- CEO operation might play out, look to Barneys New York, currently in bankruptcy -- and those two boys are brothers! I still have reservations about Ms. Karan's need to control every aspect of her business but that's what built it-- and I for one am willing to take a leap of faith and put my money in her care. I hope her cost cutting begins with scuttling the Co -CEO search and hiring a lower paid assistant instead.
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