At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered – including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.
But in a city that is slowly dying, the glitz didn’t extend much beyond the Cobo Center exhibition hall.
General Motors and Chrysler, which along [...]
In the days of the Soviet Union a tourist in Moscow could pay for his or her entire trip by selling a suitcase full of smuggled Levi’s jeans. Now, one could make substantially more sneaking a handbag full of the latest Apple products into Russia.
In this image conscious city, where Bentleys are so common that many owners simply curb park them, plenty of people are willing to plunk down some [...]
Rumors are circulating that reports of the demise of the Chinese auto market may be exaggerated now that even David Einhorn is forced to defend his GM long (because it “has a strong cash position” – sure, and stuffs channels like no other) however stripped of stereotypes and hype, the reality is that even the one time impregnable ultra luxury car market in China is now faltering at an ever [...]
Delicious dinners and beautiful sunsets fill most Instagram streams.
For the wealthiest participants of the Instagram universe- or, more accurately, the children of the wealthiest people in the financial universe- the photo-sharing app is a way to put their luxurious lifestyles on display.
A new Tumblr culled the best of the best, labelling it simply ‘Rich Kids of Instagram’ and letting the pictures speak for themselves.
No need for extra filters on these [...]
January 23, 2012
It came to a very British end, this most Russian saga. The barristers thanked the judge, the judge thanked the typists and the translators and, after nearly four months of quite extraordinary testimony, all rose and filed out of the neon striplit box that is Court 26 of London’s new Commercial Court, and returned to their wildly different lives.
The armies of bodyguards, and their paymasters, shuffled into [...]
Protesters march up Wall Street past the New York Stock Exchange on Monday.
By David Weidner, MarketWatch
NEW YORK (MarketWatch) — It had to be a case of mistaken identity.
Protesters had been swarming Wall Street and Lower Manhattan for a week.There were at least six arrests the first day Occupy Wall Street camped out and chanted near the New York Stock Exchange. There were dozens more by the weekend. By [...]
By Avi Salzman
Famed doomsayer Marc Faber did not disappoint at the Ira Sohn investing conference Wednesday.
In a wide-ranging presentation filled with shots at Ben Bernanke and the Fed commissioners, Faber predicted the Fed will continue to print money.
That means cash and bonds should not be considered safe assets.
He also ominously predicted escalating tension with China and in the [...]
Bentleys and Hermès bags are selling again. Yet the wealthiest Americans are emerging from the financial downturn as different consumers than they were.
Lyndie Benson says she now mentally calculates the “price per wear” of designer clothing. As the wife of saxophonist Kenny G, Ms. Benson, a photographer, can afford what she wants. She used to make a lot of impulse purchases, she says. But when [...]
How many millionaires do you know? The answer to this probably depends on your occupation, location, and whether or not you have your own reality show. But as explained in an earlier post, there are quite a few millionaires in the U.S. — there will be 10.5 million in 2011 according to the Deloitte Center for Financial Services. That might not sound like too many, but this number is expressed in [...]