http://observer.com Thu, 23 May 2013 21:23:43 +0000 hourly 1 http://wordpress.com/ http://1.gravatar.com/blavatar/dac0f3722a48a53be75eb06c0c4f5119?s=96&d=http%3A%2F%2Fs2.wp.com%2Fi%2Fbuttonw-com.png http://observer.com http://observer.com/2008/03/iplaza-watchi-former-emi-chief-buys-for-62-m/#comments Tue, 11 Mar 2008 21:39:38 -0400 http://observer.com/2008/03/iplaza-watchi-former-emi-chief-buys-for-62-m/ Lysandra Ohrstrom http://www.observer.com/2008/03/iplaza-watchi-former-emi-chief-buys-for-62-m/ The former chairman and chief executive of EMI Records, Alain Levy, has paid $6.2 million for an 18th-floor condo at the Plaza, according to city records. Mr. Levy left EMI a little over a year ago after the record label issued a profit warning to shareholders forecasting a 6 to 10 percent decline in revenue for the 2007 fiscal year. The Times of London reported that Mr. Levy was to recieve a severance package worth up to 7 million pounds upon his departure from EMI; so, with the pound worth twice the dollar, it's almost like he got the apartment for free.

]]> The former chairman and chief executive of EMI Records, Alain Levy, has paid $6.2 million for an 18th-floor condo at the Plaza, according to city records. Mr. Levy left EMI a little over a year ago after the record label issued a profit warning to shareholders forecasting a 6 to 10 percent decline in revenue for the 2007 fiscal year. The Times of London reported that Mr. Levy was to recieve a severance package worth up to 7 million pounds upon his departure from EMI; so, with the pound worth twice the dollar, it's almost like he got the apartment for free.

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