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Golden Miles
LVMH creates property price surge in playground of the rich, East Hampton

Bernard Arnault, the CEO of LVMH, is putting East Hampton in a bind by driving up property prices.
Bernard Arnault, the CEO of LVMH, is putting East Hampton in a bind by driving up property prices.© Photomontage by Glitz - Sources: Julien de Rosa (via AFP), Louis Vuitton

By opening a Louis Vuitton shop in the coastal village that is home to New York's wealthiest residents, LVMH and its CEO have driven up the real estate values so much that luxury boutiques and restaurants are struggling to find sales staff due to a lack of affordable housing.

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Ritz
Beleaguered Al-Fayed family struggled to restructure debt of top Paris hotel

Mohamed Al-Fayed’s heirs have put in place a series of legal safeguards to protect the Ritz from ongoing claims.
Mohamed Al-Fayed’s heirs have put in place a series of legal safeguards to protect the Ritz from ongoing claims.© Photomontage by Glitz - Sources: Jed Leicester (via Reuters Connect), Arthur Weidmann (via Wikipedia)

Faced with a myriad of compensation claims from alleged victims of Mohamed Al-Fayed, his heirs nevertheless managed to restructure the debts of the prestigious hotel on Place Vendôme over the summer. But the banks insisted on far more extensive guarantees than they had in the past.

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