The article in The New York Observer devotes several paragraphs to the claim that Stanley is a bad businessman. Mainly, it’s board member Marlene Krauss – Harvard MBA in case you missed that – who is taking Stanley to task: “Frankly, it’s time that somebody watched what Stanley is doing.”
Somebody should watch what Marlene (Harvard MBA, '67) is doing as well. Her Summer Infant company has recently been sued for poaching employees from a competitor and stealing trade secrets. In a separate case, Summer Infant was sued for patent infringement as well. Summer Infant had to recently recall 5,000 of their Garden Play Yard crib rail toys because they posed a hazard of cuts and puncture wounds. Most hilariously, Summer Infant Baby Monitors were recently found to be receiving NASA broadcasts from the Space Shuttle! What is this woman doing to our children?
Anyway, Marlene (Harvard MBA, ’67) never made a peep when the Chelsea was in the middle of a depressed neighborhood and Stanley was still managing to turn a profit. It’s only now that the property is so valuable that she gives a damn and is “embarrassed to pass it on…” to her children. At least it won’t be as bad as puncture wounds and Vulcan Mind Probes. Resistance is Futile!
I do at least like the headline on this piece, apparently an editor’s sly joke; “Nasty Checks into the Chelsea!” You can say that again.