Dov Charney, Bruised Ex-CEO of American Apparel, Down to Las
Dov Charney, the ousted chief executive of American Apparel, is down to his last $100,000. He is also apparently sleeping on a friendrsquos couch in Manhattanrsquos Lower East Side. And he is ldquosuing everyone, by the way,rdquo as a Bloomberg reporter puts it.
Charney tells Bloomberg that he took a loan from hedge fund Standard General to boost his shares in American Apparel on the understanding that the investment firm would help him get back into the company, from which he had been suspended for six months.
But the investment firm hoodwinked him, he claims: Standard General controls Charneyrsquos shares in American Apparel as collateral and added new members to the retailerrsquos board. That board last week fired Charney, whose blustery reign over American Apparel was marred by piles of lawsuits alleging sexual harassment and discrimination.
Standard General said in an emailed statement that it had #8220supported the independent, third-party and very thorough investigation into the allegations#8221 against Charney that led to his firing by American Apparel#8217s board. The firm said its #8220objective is to help American Apparel grow and succeed.#8221
Now, this ex-CEO is penniless, in relative terms: American Apparel paid Charney, its founder, an annual salary of $800,000. The clothing purveyor is also worth about $226 million to $243 million.
Still, itrsquos not all bad news for Charney mdash hersquos been linked with a possible takeover bid.
[Bloomberg]See the 10 Most Controversial American Apparel Ads The dog does not look like he's comfortable with this photo shoot aimed to sell leg warmers—the only article of clothing that the model is actually wearing. American Apparel Apart from the obvious eyebrow raising content in the ad, there was some internet chatter that the male subject of the photo was Dov Charney, himself. American Apparel While this photo lacks explicit nudity or allusions to sexual acts, this ad was banned in the UK because the Advertising Standards Authority thought the model's pose was "gratuitous… overtly sexual and that they demeaned women." American Apparel The ASA also banned this ad in the UK because it was deemed "exploitative" for sexualizing young women. American Apparel American Apparel was regularly criticized for sexualizing students and young models. American Apparel When Faye Reagan isn't starring in American Apparel ads, she's starring in porn. American Apparel Don't these models get cold? American Apparel The panel on the left side of the ad is overtly sexual and only tangentially sock related. American Apparel Sex and the male torso play prominent roles in American apparel ads. American Apparel And here's the founder and CEO himself. Flavorwire labeled this ad as a representation of "The Dov Charney-Williamsburg axis of evil." American Apparel 1 of 10 Advertisement