RECENTLY

Tips?

Got something to share? Email tips@cityfile.com


RSS
Rss_redDailyfile RSS feed

Email

Click here to have Dailyfile posts delivered to you once a day by email.

DAILYFILE
Tagged: Excess

The Burbs

145641

Greenwich Goes Green (and Gold) | Here's a question for you: How much do you think this brand new garbage bin is costing the town of Greenwich? If you guessed $675, you've probably been to Beverly Hills recently, since that's one of the only other places that has purchased the "hunter green and gold-lettered" receptacle. The total tab for the 34 new bins is going to come out to about $25,000; the good news is that an anonymous donor has stepped in to cover the costs. And Greenwich will be now cleaner than ever. Which is great to hear because as we all know—and as one local official points out—"it's important to have the proper receptacles so that the trash hits the bin and not the sidewalk." [GT]

Washington

144056

Do As We Say, Not As We Do | Not only have House lawmakers proposed blowing half a billion dollars of taxpayer money on eight new jets to ferry them around the world—the same taxpayer money that auto companies and banks were scolded for spending on their own corporate jets a few months ago, of course—now it turns out that the government is probably significantly overpaying for the planes, too. [WSJ]

Russians

142464

The Recession Bypasses Sardinia | A "luxury fair" designed to appeal to the world's richest people took place in Sardinia this past weekend. But if you were thinking the economic downturn would have put a damper on things, well, think again. Thirty bottles of "Exousia Gold Luxury Water," which is describede as a "gold petal designer label mineral water" and costs $2,800 a pop, were sold over the course of two evenings. And the water still isn't good enough to drink as is, apparently. "A spokeswoman for Exousia said sales were mainly to Russians, who 'like to use it to make tea.'" [DJ/Wealth Bulletin]

The Recession

Rich People Still Buying Expensive Things

141776Today, the New York Times reminds us that some members of the filthy rich continue to be filthy rich, recession notwithstanding. They're just hiding their spending places where regular people can't see it: in their homes. Designer Clive Christian's extremely high-end wares—think over-the-top chandeliers and the sort of Liberace-inspired designs that would appeal to someone like Celine Dion—are selling better than ever.More

Politics

Chuck Flies High

141718How much does it cost to take the sting out of commuting around New York? $144,014. That's how much Senator Chuck Schumer spent between October 2008 and March 2009 on travel, more than any Senator but one. (Republican John Cornyn of Texas spent more, after dragging 59 of his staffers to a retreat in St. Michaels, Maryland). According to Politico.com, Schumer took 25 chartered flights to various locations around New York State, most within 30 minutes of an international airport, at $1,000 to $7,000 a trip, running up a travel tab that's ten times more than some of his colleagues.More

Excess

One More Sign the Worst Is Behind Us

139959So you've probably been hearing that the recession has eased a bit, and there are signs the U.S. economy is finally turning the corner. Fewer people are losing their jobs! The stock market had its best April in years! People are spending money again! We have absolutely no idea if this is true or it's all part of some plot by Ben Bernanke to use the power of positive thinking to improve the economic outlook—and if that's the case, we're really screwed—but here's a sign that our darkest days are behind us: Someone actually spent $6 million buying the first-ever Hermès-designed helicopter (or "l'Hélicoptère par Hermès," as they like to refer to it). Okay, so the buyer is in Abu Dhabi and "signature Hermès orange accents" and "natural-grained Hermès calf leather upholstery" never really goes out of style there, but still! We're totally taking this as a positive sign regardless. [Luxist]

Shopping

The 10 Least Recession-Friendly New Products

136966We're in the middle of a recession, have you heard? If you're like most people and you're looking for ways to keep your budget in check, here are 10 items that hit the market recently that you should probably scratch off your shopping list. At least until the economy turns around or you win the lottery or something.

• Chanel Segway (est. $12,000). Yes, it does come with a Chanel handbag as a special bonus, but if you're interested in keeping your transportation costs under control, we suggest you stick to the bus.
Brioni "Vanquish II" Men's Suit ($43,000). It's made of vicuna, pashmina and Qiviuk, but even Brioni's CEO admits that introducing this suit in 2009 was probably not a good idea: "The timing was not fortunate for us."
"Golden Age" Macbook Air ($39,750). Because a laptop that is encased in 24k gold isn't enough for some people, the makers of the "Golden Age" Macbook Air added 12,000 Swarovski crystals on top of the gold. It doesn't function any better than a regular Macbook, though, and we're pretty sure you'll feel much worse when you end up leaving it in the backseat of a cab.More

Expansion Plans

Steve Cohen's Greenwich Mansion Gets Even Bigger

131395Like most hedge fund moguls, Steve Cohen hasn't been having a very good run recently. (His flagship fund is reportedly down 18 percent so far this year.) But that isn't stopping the billionaire from making some home improvements: The proud owner of one of the most over-the-top estates in America is now looking to make his mansion even bigger. Last night, an application by Cohen and his wife, Alexandra, was put before the Greenwich Planning and Zoning Commission. The couple is seeking permission to add another 1,145 square feet to their already-massive 35,000-square-foot Crown Lane home. There's no word just yet as to whether the request was approved. There's also no word on what exactly the Cohens plan to use the additional space for, especially since the estate already has a basketball court, indoor pool, 6,734-square-foot ice skating rink (along with a separate structure to house the Zamboni), and about half a billion dollars in art scattered in every direction. A few photos of Cohen's estate are located here.

Billionaires

Steve Schwarzman's $3 Mil. Birthday Bash: Any Regrets?

130802Steve Schwarzman's 60th birthday party last year may go down as the last, great party before the fall. Days after closing on what was then the biggest leveraged buyout in history, the $39 billion purchase of Equity Office Properties, the billionaire chairman of the Blackstone Group invited 500 people to the Armory on Park Avenue for a party that cost an estimated $3 million. A very long list of notables turned up—Donald TrumpBarbara Walters, Barry Diller, Lloyd Blankfein, Jamie Dimon—as did many of the people who have now become poster boys for the global financial crisis, like former Merrill Lynch CEO Stan O'Neal, ex-Bear Stearns chief Jimmy Cayne. Rod Stewart was paid $1 million to perform for the assembled guests; Patti LaBelle sang "Happy Birthday." And the room was designed to replicate Schwarzman's $40 million co-op at 740 Park Avenue. So does Schwarzman have any regrets now the economy has crumbled and he was depicted as a real-life Gordon Gekko in the relentless press coverage that followed? More

The Rich

Poor Little Hedge Funder | Just in case the reports of Wall Streeters not making millions this year has softened your resentment of ostentatious master-of-the-universe types and their role in the recession, a profile of London hedge fund manager "Mark" will ensure that any sympathy you might have had vanishes instantly. Meet the bespoke suit-wearing, modern art-buying, A-list-schmoozing thirty-something who's only worth £30 mil. and now has to figure out how to achieve his plan of earning £50 mil. more by 2010. [Independent]

Gaudy Displays

The End of the Hood Ornament? | Unfortunate news for Rolls-Royce owners who enjoy announcing to the world that they're driving a car that costs as much as a house in most parts of the country: "That ultimate symbol of brand and luxury, the automotive hood ornament, seems to be nearing the end of the road." [AdFreak]

Excess

Edwina Rogers Has a Gift For You

Here's a good sign the world is coming to an end: Edwina Rogers, the wife of lobbyist Ed Rogers, has a "wrapping room" in her 18,000-square-foot Washington manse (dubbed the "Republican Shangri-La) where she wraps her gifts in dollar bills. As in cash money that she picks up in huge sheets from the Bureau of Engraving. "The effect is fabulous, especially for foreigners. They love it," she tells the host of the show. (It's a pilot for NBC Universal, apparently.) Foreigners? As in poor people in third-world countries who are thrilled that the wrapping paper will permit them to eat for six months? Or Russian oligarchs and Saudi princes who'd paper their walls with U.S. currency if only it was colored gold, not green? Stupid question: Edwina is a big backer of John McCain. [WSJ/Wealth Report]

Excess

It's a Lonely Planet for Russian Billionaires

127584It isn't always easy being a billionaire. Especially if you happen to be Russian. Sure, you've got plenty of cash and you can afford spectacular estates in the South of France. But then some snooty maitre d' refuses to give you a table at a restaurant and your vacation is ruined! Yes, it seems the outrageous ostentatiousness of these mega-rich Russian invaders has rankled locals in Italy and France and they're showing their disdain the best way they know how: by denying them entrance to bars and restaurants.More

Advice

The Trophy Wife Recession Survival Guide

123384You may not have much sympathy for the Wall Street fat cats and CEOs who have lost their jobs in recent months and been forced to survive on the eight or nine figures they have saved up in the bank. But spare a thought for that voiceless group just as battered by the sudden change in circumstances: the trophy wives. After all, it wasn't they who made reckless investments in the subprime mortgage market and caused a global financial meltdown. They played no role in blowing up the markets. On the contrary, they've been doing their part to boost the economy for years now: They've been busy shopping. And yet many Manhattan women are now finding that the entire basis of their marriages (their lives?) has been pulled out from under them. We're here to help! After the jump, a few handy tips on how to modify your lifestyle during this trying period.More

Hypocrites

Gisele's Carbon Footprint? Muito Grande!

122626Remember when Gisele Bundchen was preaching about saving Brazilian rainforests, back when she was dating environmental poster boy Leo DiCaprio? Remember that line of sandals she designed to raise awareness about water conservation? And how she claimed she rode her bike to work every day to help the planet? Okay, fine, we didn't have any idea what this "job" was that she had to pedal to "daily," but how could we question her desire to make the world a better place? Gisele was saving the world, damn it. And she was sweet enough to instruct us on how to be just like her, posting tips on how to be more environmentally aware on her website. But it seems she's been missing those NRDC meetings!More