General Growth Properties Inc. sold half its interest in the Grand Canal Shoppes, including the Shoppes at the Palazzo, in Las Vegas for net proceeds of $410 million as part of a new joint venture with TIAA-CREF.
Jennifer Prentice, a medical- equipment saleswoman in Minneapolis, once had no qualms about dropping $600 or more for Gucci purses. Now she spends $300 for Coach Inc. bags and is filling in her Burberry wardrobe with pieces from J. Crew.
Tycoon Cheng Wai Keung’s plan to sell Singapore’s most expensive private property faces the dual challenge of additional government taxes designed to cool the market and restrictions limiting the sale to locals.
Patricia: One day in November 1982, Don Fisher came to our San Francisco store on Polk Street. Tall, balding, in his late 50s, he shook Mel’s hand and mine. With him was Maury Gregg, his chief financial officer at The Gap, and Sam Gerson, his president.
Mohamed Talaat Khalifa says if trucks carrying his company’s garment exports manage to avoid unrest at Egyptian ports and secure scarce diesel, he can’t escape banks charging more money to do business.
Mel: If you took 1,500 one-dollar bills and laid them end to end, they would stretch all of 750 feet, only three-quarters of the way down a crosstown block in Manhattan. We had to stretch those dollars into a lifetime free of ever having to work for anyone other than ourselves again.