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Dynasty in Distress

机译:陷入困境的王朝

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Leonard N. Stern, a legendary tough guy in business, grips his third cup of coffee in less than an hour. He percolates with intensity. One of the 100 richest men in America, who built a $3 billion-plus fortune on doggie chews, birdseed, and real estate, he is edged slightly forward on a linen-covered couch. His antique-filled, oak-paneled offices on the 26th floor of 667 Madison Ave. have pricey views of Central Park and the Manhattan skyline. Rents in the exclusive building, which he owns, are as lofty as $120 a square foot, second only to the General Motors building. It is the domain of someone who has long since arrived. Still, Stern, 65, can't seem to skirt controversy. Long gone is the sign that used to hang in his office: "Once you've got them by the balls, their hearts and minds will follow." These days, it's Stern who's feeling the pain. Stern―"call me Leonard"―former chairman of pet-supply giant Hartz Mountain Inc., is eager to talk. His family just can't keep out of the headlines. In September, his younger son, Edward J., 38, who still oversees the family money, became embroiled in the spreading mutual-funds scandal. Eddie, who ran the Canary Capital Partners LLC hedge fund, was the first manager to be charged by New York Attorney General Eliot Spitzer for "fraudulent" late trading and market timing of mutual funds. He continues to meet with Spitzer, says a source close to the investigation, and is dishing the dirt about mutual-fund companies he dealt with. Last year, Leonard's 40-year-old elder son, Emanuel T., known as Manny, who runs the family's real estate business, lost a $1.3 billion deal to redevelop a sports and entertainment complex in New Jersey's Meadowlands. Because the Sterns are the largest real estate developers there, the loss was a major blow to the family's pride and pocketbook. And Leonard has had his own share of headaches in recent years. A director of drugstore chain Rite Aid Corp. during its devastating accounting scandal, he was the target of several lawsuits, including a class action that claimed, among other accusations, that the board breached its fiduciary duty to shareholders.
机译:传奇的硬汉伦纳德·斯特恩(Leonard N. Stern)在不到一个小时的时间内抓起了第三杯咖啡。他渗出力气。他是美国100位最富有的人之一,靠狗狗的咀嚼,雀鸟和房地产赚了30亿美元以上的财富,在布满亚麻布的沙发上略微靠前。他位于麦迪逊大街667号26楼的橡木地板上充满古董的办公室享有中央公园和曼哈顿天际线的美景。他拥有的专属大楼的租金高达每平方英尺120美元,仅次于通用汽车大楼。这是一个早已到达的人的领域。不过,现年65岁的斯特恩似乎并没有引起争议。曾经挂在他办公室里的标语早已荡然无存:“一旦您将他们抓住,他们的心灵就会随之而来。”这些天来,正是斯特恩感到痛苦。宠物用品巨头哈兹山公司(Hartz Mountain Inc.)的前董​​事长斯特恩(Stern)-“叫我伦纳德”(Leonard)-渴望谈论。他的家人简直不能成为头条新闻。 9月,他的38岁的小儿子爱德华·J。(Edward J.)仍然监督着家庭的钱,却卷入了不断蔓延的共同基金丑闻中。经营Canary Capital Partners LLC对冲基金的埃迪(Eddie)是纽约总检察长埃利奥特·斯皮策(Eliot Spitzer)指控的第一位经理人,理由是共同基金“欺诈性”的后期交易和市场时机。一位接近调查的消息人士说,他继续与斯皮策见面,并且对与他打交道的共同基金公司不满。去年,伦纳德(Leonard)40岁的大儿子伊曼纽尔·T(Emanuel T.),即曼尼(Manny),他经营着该家族的房地产业务,但该公司失去了一笔13亿美元的交易,要在新泽西州的梅多兰兹(Meadowlands)重建一个体育和娱乐综合设施。因为斯特恩斯是那里最大的房地产开发商,所以损失对这个家庭的自豪感和钱包造成了重大打击。伦纳德(Leonard)近年来也有自己的头痛问题。在一家大型药店连锁店Rite Aid Corp.遭受严重会计丑闻期间,他是几宗诉讼的目标,包括一项集体诉讼,该诉讼声称,除其他指控外,董事会违反了其对股东的信托义务。

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