9:48 am, April 29th | by Amy Tennery
Just yesterday we were waxing poetic on the many woes of David Thomson — now, it seems, he has one fewer thing on his plate.
The Newspaper Guild of New York — the a local trade union — has reached a “tentative agreement” with Thomson Reuters, according to a statement the organization released this morning, after a protracted standoff between the two groups.
The ongoing negotiations between Thomson and the Guild had been a sore spot for the Canadian billionaire — particularly after a the release of a scathing letter from the New York City Council, that the Observer published. The letter pointed out that while Thomson is the wealthiest person in Canada, according to Forbes, Thomson Reuters still receives government subsidies.
Luckily for Thomson, however, this issue might be resolved — and just in the nick of time. According to a written statement from the Guild, “the tentative pact was signed just hours before the expected issuance of a federal complaint against Thomson Reuters by the National Labor Relations Board.” Yikes.
8:07 am, April 29th | by Peter Lauria
Media moguls used to hold a special place among the power elite. Other captains of industry were forced to cozy up to them of their control of information — or because they wanted to befriend them for their access to celebrity. They were, as Time Warner’s current CEO Jeff Bewkes once said, “powerful personalities who created stars that fueled their power.”
But those days are long gone. As evidenced by Mogulite’s power grid rankings, the digital information and entertainment economy has essentially castrated the old media’s big swinging… well, you know.
Only one leader of an old line media company — News Corp.’s Rupert Murdoch — cracks the top 50 on the power grid’s most influential moguls list. Murdoch’s position at No. 9 is a testament to his uncanny — or unsavory depending on your point of view — ability to influence politics here and abroad through his media properties.
7:27 pm, April 28th | by Amy Tennery
So says “South Park,” at least. The iPhone’s Tracking Gate scandal was lampooned on the Comedy Central show, in which one character’s weight and bloodtype were fair game for the Apple honcho’s henchmen. As The Wall Street Journal rightly points out, however, the show neglected to mention Google, which is known to keep, um, close tabs on its users, as well.
Ronald Perelman Makes Nice with Calvin Klein, Martha Stewart Buddies up with Gene Simmons … and more
6:13 pm, April 28th | by Amy Tennery
Welcome to Mogulite’s regular column tracking the moguls who play as hard as they work. From charities to parties and from St. Barths to Davos, we leave no stone unturned. Eat your heart out, Robin Leach.
– Fashion titan and car enthusiast Ralph Lauren likely felt right at home at the opening of L’Art de l’Automobile at the Louvre. The iconic American designer reportedly rubbed shoulders with French actresses and party circuit regulars. [Style]
– Vanity Fair’s Tribeca Film Festival bash brought out the some of the mogul world’s biggest stars, including fashion titans Calvin Klein and Diane von Furstenberg, as well as Google Chairman Eric Schmidt and investor Ronald Perelman.
4:53 pm, April 28th | by Hillary Reinsberg
When it comes to royal families, wealth seems to be a non-issue. But the British royal family, which is shelling out many millions on tomorrow’s wedding, doesn’t own quite all the assets as you might think they do.
Don’t worry, they’re still rich!
According to USA Today, the royal family handed over more or less all royal property to the government 250 years ago — how generous! Though this means they don’t own all the monarchical goods, it makes the British taxpayers responsible for paying for the upkeep of a $16 billion art collection, Buckingham Palace, a bunch of castles, the royal jewels and lots of other shiny things. The royals obviously still get to wear and use the stuff, though. Not a bad deal.
4:10 pm, April 28th | by Amy Tennery
… On Twitter, that is. While often a minefield of self-promotion, petty virtual fights and strangely personal information relayed to the public, Twitter is also a good place to keep up with your favorite moguls (or least favorite moguls, as the case may be). We’ve come up with our own (highly subjective) leaderboard of the most interesting, follow-worthy moguls on Twitter. And we even contained ourselves long enough to leave the Steve Ballmer parody Twitter account off the list. Self-restraint is important.
3:49 pm, April 28th | by Hillary Reinsberg
Though Lehman Brothers execs lost big time when things fell apart in 2008, the lawyers currently on Lehman’s payroll are making serious bank.
Alvarez & Marsal LLC, the firm currently running ship at Lehman, made $422.9 million over the last 30 months, according to Bloomberg BusinessWeek. Last month alone, it raked in $10.2 million. Co-founder Bryan Marsal is currently running the dried up bank and in charge of restructuring the company. Dick Fuld is crying in a penthouse somewhere!
Before it went down the tubes, Lehman CEO Fuld was making a fraction of that, receiving a $40 million salary in the bank’s final year.
1:26 pm, April 28th | by Amy Tennery
No doubt it’s already occurred to you that fuel prices seem a tad high — and, unlike our “friends” over at Exxon, most companies aren’t allegedly profiting from the phenomenon.
Take the morose-sounding Gerard Arpey, CEO of American Airlines, for example. His company was among the several main U.S. air carriers that’s had to tack on a record $420 in additional fuel fees for round-trip tickets to Europe, according to Businessweek.
12:21 pm, April 28th | by Amy Tennery
No, it’s not made of platinum or covered with rubies, but this $6,390 toilet from Kohler does feature a built-in bidet and MP3 speakers, according to the Consumerist. Don’t be fooled by its minimalist design; the toilet, known as “numi,” also includes a motion activated lid and seat, illuminated panels (so that you can find it in the dark, naturally) and an “integrated air dryer” (we’re not going to touch that one).
Of course, the numi isn’t the world’s most expensive toilet. That prize goes to a $75,000, Swarovski-crystal bejeweled commode, according to Expensive Point. Thankfully, a partial-encrusted model is also available, for those who don’t want crystals digging into their… well, you know.
Call us déclassé, but we’d take an MP3-playing toilet over a blingy one any day.
10:50 am, April 28th | by Amy Tennery
Mario Buatta may have worked with Barbara Walters and Mariah Carey, but as far as he’s concerned, the real moguls in his client roster have kicked the bucket.
Buatta told Mogulite that his favorite titan client in a 50-year career was Henry Ford II — whom he described as “a great guy.” So casual a descriptor is rarely applied to one of America’s original moguls — we love it.
We caught up with the legendary interior designer at last night’s debut of the Arts and Antique Dealers League of America Spring Show in Manhattan, which featured art from the likes of Andy Warhol and Marc Chagall.
Buatta told us that he “had to sleep [his] way in here” to become a co-chair of the exclusive event, but we got the sense his tongue was firmly in cheek (at least we hope).