As we’ve indicated earlier, Legends was able to obtain the court papers relating to BD NY Hotels vs. Chelsea 23rd Street Corp. Interestingly enough, these papers include an itemized list of the hotel’s expenditures over the last few months of 2007. Rest assured, we are studying these closely to see where our rent money is going.
Anyway, one of the highlights of the list are the payments to hotel layabout David Elder: $365.25 in July, $131.37 in August, $706.65 in November, and three payments of $706.65, $478.90, and 455.06 for a whopping $1640.41 in December. (Unlike all the other expenses listed—including items such as carpet, carpentry supplies, furniture ordered by Stanley, accounting, legal—these payments to Elder are 
unexplained, though one time it does say, simply, “expenses”.) Scarcely what we would call a valued employee—though he did get quite a raise in December. And let’s not forget about the spacious apartment he has been allowed to use for 9 months free of charge!
Also, between July and December, Marlene and BD spent $146,143.59 of the hotel’s money in legal fees, presumably at least in part to battle Stanley Bard, and another $26,285 on payments to accounting firms, presumably to dig up dirt on the old man (those accountants could learn a thing or two from the lawyers). In addition “security requested by Marlene Krauss” runs the hotel $13,655.25. What the hell?! you ask. Well, remember the goons that looked like rejects from the Sopranos that sat in the lobby for awhile? These fine fellows were no doubt necessary to prevent Stanley from overpowering David Elder and stealing the Larry Rivers painting from the wall.
Perhaps most interesting, at least from our point of view, is the money paid to Rubenstein for “public relations/crisis management”: two payments of $45,000 each! (Well, one for $45, 212.58—probably charged Marlene for copies or something. Lawyers ain’t got nothin’ on them.) And what did Rubenstein do, exactly? Issue a couple of half-assed press releases and refuse to take calls from the media? The whole Stanley Bard ouster turned into one hell of a big, fat, hairy public relations disaster for both BD and the minority shareholders. Marlene, why didn’t you just offer us $90,000 not to write about you? We wouldn’t have taken it, but we certainly would have appreciated the gesture. — Ed Hamilton (Photo: David Elder proudly displaying his sign making skills. Maybe that’s why he gets the big bucks. By the way, that sign recently returned to bite him in the butt.)
Living with Legends 
Leave a comment