Sprint-ing to a deal
CEO has a showbiz plan for Softbank’s $100B
AT&T isn’t the only telecom eyeing the entertainment arena. Sprint Chief Executive Marcelo Claure told On the Money Tuesday night to keep an eye on the space.
“We have a plan, we just can’t share it,” the Bolivianborn CEO told us at a Plaza Hotel party.
Sprint is owned by SoftBank, which just announced the formation of a $100 billion tech investment fund that may benefit Sprint. “We might be doing something in the music space. I just can’t go there,” teased Claure.
Sprint had an early partnership with Jay-Z’s Tidal streaming music service, but that didn’t grow into anything more.
When asked if Sprint might be in an M&A mode, Claure said, “We’re part of SoftBank, and they are always in an interesting mode.”
Claure, who was being honored by the Casita Maria Center for Arts & Education, said, “We’re going to give 1 million connected devices to kids in America.” Lack of internet access is a bigger problem in America than in Latin America, he noted.
Also in attendance were Kelly Coffey, CEO of JPMorgan Private Bank; contemporary artist Dustin Yellin and Four Seasons restaurant co-owner Julian Niccolini, who is watching his former dining clientele migrate to rival restaurants Michael’s, Marea and La Grenouille while he waits for the new Four Seasons to open next year.
Ivanka Trump (pictured) says she learned a valuable lesson about finances when she was 14 and her mother booked a trip, reserving coach seats for Ivanka, Donald and Eric while Ivana enjoyed the perks of first class.
Ivanka recalls the incident in the new book by Bobbi Rebbell, “How to Be a Financial Grownup,” released last week, writes our Lisa Fickenscher,
She said her mother toldd her if she wasn’t happy about her seateat that she could use her own money to pay for an upgrade. Ivanka’s takeaway after flying coach? “Be judicious when deciding where and how to spend yourour money. Investvest wisely andd splurge selec-lectively.” Ourr takeaway? Isn’t the point of a family trip too spend time together?
What a difference two years makes in fashion.
J.Crew’s legendary Chairman and CEO Mickey Drexler this month announced his first activewear line in partnership with New Balance.
The Post’s Josh Kosman reported exclusively that Drexler is losing some of his sway in the private equity-owned retailer, and recentlytly hired consultancy McKinseysey & Co. for advice on improv-oving the preppy brand.
Two years ago, Drexler waswas not about following trends.
The retail legend said in an October 2014 interview that he consideredsidered and dismissed making yoga clothing.othing.
“We thought about beingng in the ac-active, professional kind of business,business, but we’re not getting in because we don’t have the expertise to do that,” he said.
Now that J.Crew missed the ac-activewear tsunami, the companympany is only breaking about even on a cash-cashflow basis and has more thanhan $2 bil-billion in debt. Getty Images How do you gget $669 billion in one room? Ask Jes Staley.S The Barclays chief executive was seen wining andan dining some of the world’s biggest hedge funds — all in an effort to wrest business from an unlikely nemesis: Goldman Sachs CEO Lloyd Blankfein. BBarclays held a $1 million bash for 55 hedge funds — that have combined assets under management of about $669 billion, according to filings and reports — atat CCipriani at 25 Broadway on Oct.O 13, according to hedgieshedgie and documents obtainedtained bby On the Money. The partypar was a bid to chip away at Goldman’s fearsome prime brokerageb business, which handleshan orders for many of the bbiggest funds in the world, according to sources. AccordingAccord to an invitation list, attenattendees included reps from Man Group, Och-Ziff Capitalital ManManagement, Renaissance TechnologiesTechnolo and Elliott Management,agement, justj to name a few. It doesn’tdoesn appear that any manager with less thanth roughly $350 millionlion was invited to the bash. It’s unclear how much business Barclays was able to siphon away from Goldman.G The blowout at CCipriani was the capstonestone of Barclays’ aall-day Prime Services Hedge Fund SymposiumSymp at The Conrad in downtown Manhattan.Manh While Barclays employeesem at the party were heard bragging that the party cost the bank $1 million, anotheranot source at the bank said it was more likely to have cost $100,000. Marc Hazelton,, a bankb spokesman, declined to comment.