The Annals of Luxury: It's Official! The Rich Are Just Like You And Me.

Or are they?

Last week The New York Times reported that the wealthy are "tightening their belts."

Until recently, affluent consumers had continued to spend, offering one of the few rays of hope for retailers suffering through these recessionary times.

Next stop, Rodeo Drive!

Now their confidence appears to have ebbed. At least that is the interpretation given the latest retail sales reports by some economic analysts, said The Times.

By affluent consumers, we mean top 5 percent in income earners — those households earning $210,000 or more. They account for about one-third of consumer outlays, including spending on goods and services, interest payments on consumer debt and cash gifts, according to an analysis of Federal Reserve data by Moody’s Analytics.

Any cutback in purchasing by this elite group produces a disproportionate reduction in overall retail sales. Ouch!

The Times cites the usual reasons for the downturn in spending – swings in dividend payments, investment losses, low interest rates on bank savings accounts, uncertainty about the future, and (here's a new one) fear of looking prosperous.

It turns out that some executives and business owners who have laid off employees don't want to buy new luxury cars because they're afraid of how that will look to their remaining workers.

If things get worse, will they leave their Porsches and Lexuses at home and take the bus to the office?

Click here to read the full New York Times article.

The Enlightened Traveler: London's Charlotte St.

Even if you're a frequent visitor to London, you might not know Charlotte St.

Tucked away a few blocks north of Oxford St. and west of bustling Tottenham Court Rd., it's a quiet byway noteworthy for its many restaurants. These aren't London's finest eateries, though many of them are very good.

That makes Charlotte St. your preferred destination when you don't know where you want have dinner. You can work up an appetite as you stroll the area, inspecting your many options.

No phony Sicilian decor at Mennula, just simple, up-to-the-minute elegance

One that currently is attracting attention is the recently opened Mennula at No. 10. Sicilian-born chef-owner Santino Busciglio has worked at some of the city's better Italian restaurants, Rosmarino, Zafferano and Alloro.

We haven't been there yet, but we have been impressed by the reviews.

Time Out notes that Busciglio's "style of cooking is much more contemporary and refined than Sicilian home cooking, a fact underlined by this Fitzrovia site also being self-consciously smarter than London's other Sicilian restaurants."

The Independent writes: "There's nothing particularly flashy about Mennula; the lion's share of the work has gone into getting the food right, rather than "the concept"... If you're after simple Sicilian food, lovingly prepared by a talented chef, this is the place to come."

We cannot wait to try it.

The British Museum, Bloomsbury, Oxford St. shopping, Wigmore Hall, and West End theaters are 5-15 mins. on foot from Charlotte St. Goodge St. is the nearest tube stop.

The arty, chic Charlotte Street Hotel is a show business favorite and a luxe place to stay if your budget allows. Even if you are not in residence, you can enjoy a drink in the hotel's stylish Oscar Bar before dinner at Mennula or another Fitzrovia restaurant.

And Another Thing: Everybody's a Legend Nowadays

The advertising campaign for Blackglama mink, with it's often imitated headline "What becomes a legend most?," is one of the most famous of all time.

It had a simple premise: iconic, legendary celebrities (Judy Garland, Bette Davis, and yes, Ray Charles) were shown wearing nothing more than an elegant, expensive black mink coat in striking photographs by the great Richard Avedon.

So successful was the campaign that it has continued off and on from its inception in 1968 to the present century. If it's not broken, don't try to fix it.

For the most part, the subjects of the Blackglama ads were, indeed, legendary, as in meaning someone or something that is extremely famous.

Nowadays, PR people commonly invoke the L Word to describe anyone and anything even the slightest bit acclaimed. Take PR Newswire, the main channel for distributing news releases – we said news releases, not news – to the world's media.

If you look at their website, you quickly come to the cheerless conclusion that pretty much anyone with a publicist is considered to be a legend of some sort. This includes everyone from athletes who are in the twilight of mediocre careers to software developers about whom surely no legends ever have been or will be written.

Legendary should be used only to refer to (1) someone or something that has been celebrated or described in a legend (Paul Bunyan or King Arthur's Court, for example) or (2) someone who is extremely famous.

Here's a sampling of L Word references in more than 500 press releases on PR Newswire over the last 60 days. Which ones fit our description?

• legendary journalist Dan Rather
• legendary Pittsburgh Steeler Franco Harris
• legendary music photographer Rob Shanahan
• legendary songwriter Carole King
• legendary West Virginia Senator Robert Byrd
• legendary music mogul Kevin Liles
• legendary concert promoter Leonard Rowe
• legendary software developer Kent Beck
• the world's most legendary queen, Cleopatra
• legendary violinist Itzhak Perlman
• the legendary Waikiki Beach

Cleopatra: legend; Kevin Liles: just a record producer

By our count, the only bona fide legend here is Cleopatra. While Dan Rather, Robert Byrd, and Carole King are well known in certain circles (and even may be nice guys, to boot), it would be a stretch to call them extremely famous. Waikiki Beach is a nice place to sip a pina colada, but please show us the legends that have been written about it.

As for Kent Beck, Leonard Rowe, and Kevin Liles, all we can say is, "Huh?"

PR professionals take note: the L Word should be used sparingly, if at all.

Not the Same Old, Same Old: Just in Time for Summer, Fun, Fashionable Sterling Silver Ballpark Cuff Links

Summer is heating up with major sporting events on every continent.

We've spent a good part of the week watching the World Cup and Wimbledon. (We're still marveling over that unbelievable Isner-Mahut marathon fifth set!)

Brooklyn's Ebbets Field, home of the Dodgers, then – and now!

With another week of top-notch tennis and two of soccer ahead, we'll be up most nights into the wee hours cheering on our favorite players and teams.

But long after the dust has settled at the All England Tennis Club and the last of South Africa's vuvuzelas are silenced, we'll still have four months of baseball to look forward to.

This bring us to our newest gift suggestion for clients and friends who (1) are mad about sports and (2) get properly dressed for work at least a few days a week.

What we're talking about here are handsome sterling silver cuff links inset with wood salvaged from the stadium seats of such historic ballparks as Yankee Stadium, Ebbets Field, The Polo Grounds, Wrigley Field, Fenway Park, Dodger Stadium, and seven others.

Ballpark Cuff Links, from top, Wrigley Field, Chicago;
Yankee Stadium, New York; Busch Stadium, St. Louis

Do not laugh! Apart from serving a utilitarian purpose for the dapper man or chic woman who knows that French cuffs are once again in vogue*, our ballpark cuff links are also collectible.

At the very least, wearing them is going to lead to some interesting conversations and maybe even new business or romantic relationships.

Each pair is unique: the painted surfaces of these unusual cuff links may be uneven or multicolored due to multiple layers of paint.

The cuff links are hallmarked with the name of the ballpark on the back and come with a certificate of authenticity. They are nicely gift boxed, too.

The price ranges from $150 - $270 per pair, depending on the scarcity of wood. To borrow from Will Rogers, they're not making wooden seats anymore. And some of these stadiums were torn down a long time ago. The ones still standing have had low-maintenance-but-still-tacky plastic seats for a decade or more.

Our ballpark cuff make memorable gifts for the man or woman has everything, but most assuredly not these! We think you should give them to all of your important clients, every cast member of your TV show or movie, and all of the groomsmen in your summer wedding.

Don't forget your friends who are coming over to watch the All-Star Game on July 13. Imagine how surprised and delighted they'll be.

We sell these in multiples of five or more, any assortment of teams you would like. Please phone us at (310) 581-6710 to place your order.

If you want just one pair, or would like to see the complete list of teams, click here.

*Not that they really ever went out of style. They're timeless, like Fred Astaire or a hot fudge sundae.

The Annals of Luxury: The Gold Rush of 2009-10

Unlike most products we purchase, the price of a hot new bag or piece of jewelry has very little to do with the cost of production, the cost of raw materials, or even supply and demand.

The price of a luxury item is determined by its perceived value or, in simple terms, what the buyer is willing to pay for it. That is why a Vuitton or Hermes bag can fetch 13 times more than manufacturing costs.

Not always worth its weight!

If the folks who produce and distribute your groceries could achieve those margins, you'd need to mortgage your house just to eat.

The price of commodities like sugar and oil is usually directly related to issues of supply, demand, and production. The costs of gas does down when there is too much oil being produced or when consumers buy less of it.

Not so with gold. In recent months, the supply of gold has remained constant and demand for the precious stuff has fallen by 25%, according to a recent story in the Wall St. Journal.

Still, the price of gold continues to rise to record highs, gaining an average of 16% for each of the past ten years.

Sounds like a good investment, doesn't it – particularly in these uncertain economic times?

Wait! The price of gold is determined not by market forces but by large investors who have no use for it. They buy more if they think the price will go higher, thus pushing the prices up.

This isn't a sure thing: there is a history of gold's price falling.

According to Sherali Anand, the author of the Journal's report, "During times of prosperity and growth in the world, gold prices fell. Between January 1980 and January 1990, gold lost 28% of its value. Over the subsequent 10 years through January 2000, gold fell an additional 27%

"Now, after its sharp increase over the past decade, even gold bulls are skeptical about its potential as a high-return investment."

In other words, nothing goes up forever. That certainly includes gold, the price of which, as we have learned, is subject to the whims of fickle investors, global political events, and who knows what else.

Not comforting if you are looking for a safe place to put your money nowadays.

Mr. Anand concludes, "Don't keep more than 5% of your portfolio in gold."

Summertime, Summertime, Sum-, Sum-, Summertime!

We're already in fun-in-the-sun mode, even though summer doesn't start officially for another month.

Take a look at these gifts, selected to make a day at the beach or in the backyard that much more sensational.



These are great choices for your cast or crew for start or end of production or for valued clients and important business associates for any occasion.

When you see what you like, call us at (310) 581-6710 and we'll get it for you. Don't see what you're looking for? Call us, we'll show you more gift suggestions.

At the1955 Cannes Film Festival "Marty" Won The Palme d'Or and Grace Kelly Met Her Prince

The Cannes Film Festival opens tonight amid a circus of directors, producers, studio executives, talent agents, sales reps, paparazzi, mimes and street performers, film critics (who isn't?), provincial tourists by the tens of thousands – and, of course, genuine movie stars and would-be stars from every country and every strata of the film business.

At the 1955 festival the mood was less frenzied, though still festive. Then, as now, film royalty from Sophia Loren to Grace Kelly to Brigitte Bardot descended on the Riviera to show off their wares.



It was a great year to be in Cannes:

Jeanne Moreau attended for the first time.

The first Palmes d'Or were handed out. Before that the top prize was called the Grand Prix.

The inaugural Palme d'Or went to Delbert Mann's Marty.

American films were strongly represented at the festival. Direct from Hollywood: Elia Kazan's East of Eden, John Sturges's Bad Day at Black Rock, Otto Preminger's Carmen Jones, Edward Dmytryk's The End of the Affair, George Seaton's The Country Girl, and Marty.

The U.K.'s Daily Mail reported that Sophia Loren was the most photographed star at Cannes in 1955. If so, she faced stiff competition from the likes of Bardot, Kelly, and Gina Lollabrigida.

Dino Risi, Vittorio de Sica, and Carol Reed also brought films to Cannes in 1955.

Grace Kelly, whose The Country Girl screened in competition, was introduced to Prince Rainier at the Carlton Hotel. A year later they were married.

Melina Mercouri traveled to Cannes for the Michael Cacoyannis film Stella and met her future husband, the director Jules Dassin. Dassin was named best director for his in-competition Rififi.

Other notables at Cannes in 1955: Gene Kelly with Betsy Blair, Silvana Mangano, Esther Williams, Olivia de Haviland, the French actors Eddie Constantine, Jean-Pierre Aumont, Nadia Gray, and directors Otto Preminger, Jean Renoir, Nicholas Ray.

The beloved novelist Marcel Pagnol served as president of the jury. Also on the jury: director Anatole Litvak, short filmmaker Juan Antonio Bardem (the uncle of actor Javier Bardem), and French playwright Marcel Achard, who would write the 1962 comedy l'Idiot on which the second Pink Panther film A Shot in the Dark was based.

Fifty-five years and another lifetime ago!