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.
Four of the five highest-paid employees at Standard & Poor’s 500 companies aren’t chief executive officers. They’re Apple Inc. senior lieutenants receiving compensation packages designed to keep management intact in an increasingly competitive industry.
In 1997, Josh Weston persuaded the founder of J. Crew Group Inc. to sell the company to TPG Capital. Now, he’s heading the special board committee that approved TPG’s offer to again buy the apparel retailer.
Sears Holdings Corp. and Urban Outfitters Inc . are weighing rival bids for clothing retailer J. Crew Group Inc. in a potential challenge to TPG Capital and Leonard Green & Partners LP’s $3 billion buyout, said three people with knowledge of the matter.
Mickey Drexler put $10 million of his own money into J. Crew Group Inc. when he took over its top job in 2003. As he overhauled the New York retailer, he personally reviewed every item of clothing sold, every model in the catalog and every new employee.
J. Crew Group Inc. ’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP fell apart, a lawyer for the shareholders said.
J. Crew Group Inc. is concerned that shareholders may reject its $3 billion buyout and is holding last-minute meetings to convince large, institutional investors to vote in favor of the deal tomorrow, said three people familiar with the matter.