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Tagged: Richard Fuld

Plastic Surgery

Extreme Makeover: Wall Street Edition!

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Wall Street CEOs make a fortune, as you're undoubtedly aware. Even the chief executives of banks that have been bailed-out by Washington or have gone bust usually end up doing nicely. But despite the riches and perks these men have accumulated and massive egos they've developed along the way, few of them would do all that well in a beauty contest. Because it's high time that Wall Street take advantage of the miracle of modern science—and because we care, dammit—we took the liberty of contacting Dr. Anthony Youn, a board-certified plastic surgeon who has made appearances on Dr. 90210 and the Rachael Ray Show, to ask him what procedures he'd suggest these titans of finance consider if they want to look their very best. Dr. Youn's answers and cost estimates—and our commentary—is below.More

The Disgraced

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Dick Fuld Surrenders the Ridge | Big news for golf aficionados who also happen to be closely following the one-year anniversary of the collapse of Lehman Brothers. As Reuters reported last week, ex-Lehman CEO Dick Fuld gave up his membership at the Blind Brook Country Club in Purchase following his fall from grace last year. Our trusted source for all mogul-related golf news now tells us that Blind Brook isn't the only club that no longer has the pleasure of Fuld's company. He's also abandoned his membership at the Quaker Ridge Golf Club in Scarsdale. Clearly, the situation has gone from bad to much, much worse.

The Disgraced

Dick Fuld Will Not Be Defeated

144975It's been nearly a year since Lehman Brothers went bust, making it the perfect occasion to send a reporter to hunt down Lehman's former CEO, Dick Fuld. A Reuters correspondent managed to find him last Friday, looking tan and dressed in and well-rested at his "country house in a bucolic setting beside a river and amid tree-covered slopes in Ketchum, Idaho." So how's he doing?More

Buyers & Sellers

Fuld Seals the Deal at 640 Park

144437• A rare bit of good news for former Lehman chief Dick Fuld and his wife Kathy! The couple have closed on the sale of their 6,200-square-foot co-op at 640 Park Avenue, albeit for quite a bit less than they were hoping to make on the sale. After originally putting the apartment on the market for $32 million in May, the couple ended up selling it for $25.87 million. The lucky buyer? Glenn Fuhrman, the co-founder of MSD Capital, Michael Dell's investment fund. [Real Deal]
• Celebrity hairstylist Orlando Pita bought a condo at 101 Warren Street last September. Now he's unloaded his former co-op at 2 Fifth Avenue. The two-bedroom pad, which Pita first put up for sale in '07, sold for $2.95 million to Razorfish co-founder Craig Kanarick and his wife, Rebecca Odes. [Cityfile] More

Wall Street Wives

Goldman Haters Have Their Claws Out

143865Goldman Sachs has been accused in recent weeks of plotting to make a fortune from the collapse of the American economy and then plotting with Washington insiders to hand the banking industry a massive bailout. Are Goldman haters now plotting against the firm's CEO, Lloyd Blankfein, and his wife Laura? A day after it was reported the banking chief had instructed Goldman employees to play it cool comes this doozy about Laura Blankfein's alleged antics in the Hamptons last weekend:More

Buyers & Sellers

Fuld Gets an Offer, Mnuchin Lists in East Hampton

141457• It looks like former Lehman chief Dick Fuld and his wife Kathy might  unload their co-op at 640 Park Avenue, after all. The Fulds have reportedly received an offer "in the $27 million range" for the 6,200-square-foot spread—which they listed for $32 million last month before taking it off the market a week later—although they've yet to decide whether to accept the bid. [NYP]
• Robert J. Katz, Goldman Sachs's former general counsel, has paid $7.525 million for a three-bedroom, 16th-floor apartment at 860 Fifth Avenue. The seller was jewelry designer Jean Vitau and his wife Irene. [Cityfile]
• Alan Mnuchin—the former Bear and Lehman banker, founder of AGM Partners, son of Bob Mnuchin, and brother of IndyMac CEO Steve Mnuchin—has put the six-bedroom home he shares with wife Kimberly on East Hampton's Hither Lane up for sale for $17.5 million. [Newsday, Sotheby's]More

Buyers & Sellers

Dick Fuld Flip-Flops, Bella Sapir Flips

141074• That was quick. On Tuesday, it was reported that former Lehman chief Dick Fuld and his wife Kathy had unofficially put their 6,200-square-foot pied-à-terre at 640 Park on the market for $32 million. But now it seems the Fulds have changed their minds and decided against selling it. Better luck in 2010? [WSJ]
• Bella Sapir, the ex-wife of billionaire (and endangered animal skin fan) Tamir Sapir has sold the penthouse at 250 East 53rd Street that she bought for $8.895 million in November 2008 and re-listed for $13.5 million a few days later. Sapir sold the 4,511-square-foot apartment for $10.5 million. [Cityfile]
• Columbia Law professor Hans Smit has lowered the price of his 12,000-square-foot townhouse at 351 Riverside Drive, which first went on the market for $31 million back in 2006. The mansion, which Smit bought for just $325,000 back in 1979, is now listed for $25 million. [Cityfile, BHS]More

Resignations

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Fuld Steps Down From Non-Job | Former Lehman CEO Dick Fuld has officially stepped down as the bankrupt firm's "chairman," per a letter delivered last week to Bryan Marsal, the restructuring pro who assumed control of Lehman last fall. Finding someone to vastly overpay for a Park Avenue apartment isn't exactly part-time work, you know. [NYT/Dealbook]

The Hamptons

Economic Downturn or Killer Tornado?

140933The Hamptons real estate market really sucks at the moment, as you may have heard. According to stats guru Jonathan Miller, the number of unsold homes on the East End rose 15 percent during the first quarter while the median price of a house dropped 23.5 percent compared to a year earlier. One brokerage firm reports that sales of Hamptons homes have plunged by 67 percent during the first three months of 2009. But Michael Daly, the founder of North Haven's True North Realty, is keeping it all in perspective:More

Buyers & Sellers

Dick & Kathy Fuld: 'What Recession?'

140920Former Lehman chief Dick Fuld may have been willing to hand over his luxe Florida home to his wife for $100, but he's looking for a little bit more from the sale of his Park Avenue apartment. Fuld purchased the 6,200-square-foot co-op at 640 Park in 2006 for $21 million. Now rumor has it he's looking to exit the building and has tapped Kathryn Steinberg of Edward Lee Cave to handle the sale. And he'd like to make a eight-figure profit on the deal, too.More

One Year Older

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Happy Birthday | Gossip Cindy Adams celebrates her 79th birthday today. Barbra Streisand is 67. Designer Jean-Paul Gaultier turns 57. Mets star Carlos Beltran is turning 32. Playwright Eric Bogosian is 56. Djimon Hounsou (and Kimora Lee's significant other) is 45. Political reporter Andrew Kirtzman turns 48. Mystery writer Sue Grafton is turning 69. Veteran diplomat Richard Holbrook is 67. Kelly Clarkson is 27. Cedric the Entertainer is turning 45. And Shirley MacLaine is 75. Weekend birthdays—including that of the newly-named worst CEO ever, Dick Fuld, this Sunday—after the jump! More

Roundup

Wall Street: Tuesday Morning

• Stocks dropped at the opening bell this morning following the Commerce Department's report that retail sales fell 1.1 percent last month. [WSJ]
• The SEC is looking into whether Bank of America broke the law by not telling shareholders about Merrill Lynch's plan to pay out billions in bonuses. [FT]
• President Obama is expected to tap Fannie Mae chief Herb Allison to head up the government's $700 billion financial rescue program. [WSJ]
• From Dick Fuld to Tim Geithner, Steve Rattner to former AIG chief Bob Willumstad, the big guns of finance have a friend in Michael Bloomberg. [NYT]
• Lehman Brothers "is sitting on enough uranium cake to make a nuclear bomb as it waits for prices of the commodity to rebound." No, this is not a joke. [BN

More

Wall Street

Stocks Slip, Summers in the Spotlight

• Wall Street retreated this morning after a four-week rally amid concern about the banking sector and after IBM's attempt to buy Sun unraveled. [WSJ, CNN]
• The latest Washington official facing questions about potential conflicts of interest: Larry Summers, who collected $5.2 million in 2008 working one day a week for D.E. Shaw before joining the administration. [NYT]
• Tim Geithner says that the Obama administration is prepared to oust top financial executives if their firms require more public aid. [FT, DB]
More

Fire Sales

Madoff Victims Forced to Sell the Family Silver

135374You missed your chance to swoop in like a vulture and take advantage of some of the poor souls who lost everything to Bernie Madoff's Ponzi scheme. Over the weekend, Palm Beach's Kofski Antiques held a two-day "Madoff Estate" sale and offered up the possessions of two Madoff investors who lost their fortunes as part of the alleged fraud. Included in the mix was a $3,000 mink coat and $3,850 crystal horse head. Then there there was this set of Eureka Grand Baroque Sterling flatware, which went for a mere $350. Don't be too disappointed if you missed out, though. Kofski's owner says he has another Madoff sale in the works, as well as a sale by a "top executive of Lehman Brothers." Excellent! We're totally buying one of Dick Fuld's old squash racquets.

Threats

O'Reilly Plans to Kick Dick Fuld's Ass | He might be the worst person in the world, but we don't actually recommend physically assaulting disgraced Lehman CEO Dick Fuld. But Bill O'Reilly is ready to pummel him—and it appears to be personal, too. The Fox News blowhard says he lost a bundle as a Lehman shareholder, and he'd now like to "know where [Fuld] lives so I can go beat him up." (The clip is above.) We'll help you out just this once, Bill. It's 37.4 miles from your house in Manhasset to Dick's home in Greenwich and it'll take you about 54 minutes. Here are the driving directions