LVMH is selling Donna Karan International, the parent of New York label DKNY, to U.S. clothing firm G-III Apparel Group. » Read More
Among the marks of Manhattan’s prosperity in recent years were the thousands of restaurants and shops that opened to meet an ever-growing demand. But as New Yorkers have drastically cut back, the shops that line the streets, from chain outlets to family-run shops, have started to disappear.
Tomorrow the bank holding the $40 million loan on Washington DC's Watergate Hotel, New York-based PB Capital, will put the foreclosed property up for auction. The 251-room, formerly grand, 12-story lodging has been empty since 2007. Just the memories of those few burglars who slept there the night before they did their historic deed still haunt the hallways.
First, let me give you a funny story about my experience blogging about Annemarie Dooling, the young lady who Tweeted during a bank robbery yesterday in Manhattan. After reading her account of what happened on Twitter, I wanted to confirm there had actually been a bank robbery. The web folks wanted to make sure we weren't being punked.
Thirteen people and an unspecified mortgage origination company are under indictment for a $100 million mortgage fraud scheme, Manhattan District Attorney Robert Morgenthau's office said Wednesday.
The developer of the World Trade Center site has threatened to go to arbitration to settle a monthslong impasse to rebuild ground zero.
A man walks into a bar. He’s carrying a carpet under his arm. He wraps himself in the carpet, lies on the floor, covers his face and waits for people to step on him. A sign taped to the bar reads: “Step on carpet.”
Ruth Madoff, 68, has not been charged with any crime or even questioned by prosecutors. But she has become perhaps the most vilified spouse of a financial rogue in history. When her husband, Bernard Madoff, divulged his Ponzi scheme, a $65-billion fraud for which he awaits sentencing later this month, Mrs. Madoff’s life was also ruined. Although no evidence has emerged to date that she conspired or even knew about her husband’s crimes, her plight has evoked no apparent public sympathy. She has been pilloried and turned into a pariah.
There has been plenty of talk about per game costs of some of the best seats in the new Yankee Stadium, but how much will an actual seat from the old stadium cost?
The threat of a global pandemic of swine flu has not only threatened the economic recovery, it’s put one of America’s greatest love affairs on the rocks: Our love of bacon. In the name of sizzling, smoky goodness, here are some common swine-flu myths—debunked.
This recession is getting wild. Faced with a $15 million budget shortfall, the Bronx Zoo is being forced to hand out pink slips to hundreds of animals, including deer, antelopes, lemur and porcupines.
As the global economic slowdown digs its heels in and consumers tighten their belts and fret about jobs, the Alternative Arts organization hosted its annual Alternative Fashion Week in Spitalfields market, London, a platform for young, new designers.
New York State Attorney General Andrew Cuomo, Rep. Barney Frank and other lawmakers are discussing a plan to link executive pay to the long-term performance of companies, the Wall Street Journal said.
Disgraced former Gov. Eliot Spitzer is working as a commercial real estate investor and has bought an office building just a block from the site of the infamous encounter with a high-class prostitute that led to his downfall.
Financier Bernard Madoff said his wife should be allowed to keep nearly $70 million worth of assets held in her name, including the Manhattan penthouse where he is currently under house arrest, because they are unrelated to his alleged fraud, the Wall Street Journal reported.
Lots to talk about given the Yankees offseason. Yankees president Randy Levine stopped by "Power Lunch" today.
Almost no segment of New York City’s real estate industry was spared in the Madoff scandal. Commercial brokers large and small, little-known developers and prominent families like the Wilpons and Rechlers all lost money to Bernard L. Madoff, the New York Times reports.
The economic downturn has not yet found a bottom, according to New York City Comptroller William C. Thompson Jr., who says huge job losses still lie ahead for the city.
Yesterday we learned that the windy city wants to lease its parking meters to a private company that would raise daytime hourly parking rates in downtown Chicago from $3 now to $6.50 by 2012. Sound exorbitant?
Given the chance to chat with several co-op owners, I asked the expected question: Will all the Wall Street layoffs really put a bullet in the island’s real estate market? The answers were mixed, some citing the still-high demand for housing in a city with relatively limited supply.
All week, the Fast Money crew has been looking in-depth at companies with less than stellar reputations, but whose stock may still be valuable in the long run. Today, the lens is turned on NY-area cable co Cablevision, run by the notorious Dolan family, much-hated by New Yorkers for -- among other things -- allowing Isiah Thomas to run the Knicks into the ground.