Susie Tompkins Buell

Susie Tompkins Buell is a United States former entrepreneur and a liberal political donor associated with the Democracy Alliance.

Democratic Party activism

Buell is often described as Hillary Clinton's best friend. [ [http://sweetness-light.com/archive/more-names-of-the-donors-behind-media-matters "More about the donors behind Media Matters"] ] , [ [http://www.amazon.com/dp/0316017426 "Her Way"] ] Buell is leading Clinton's fundraising efforts for 2008 in the San Francisco Bay area. [ [http://www.washingtonpost.com/wp-dyn/content/article/2007/03/23/AR2007032301627.html "Democrat Hopefuls Getting More Green in Bay Area"] ]

Democracy Alliance

In 2006, the Washington Post broke a story about the Democracy Alliance, calling it an "exclusive donor club" for progressive donors and identifying Buell and her husband Mark Buell as members. [ [http://www.washingtonpost.com/wp-dyn/content/article/2006/07/16/AR2006071600882_pf.html "A New Alliance of Democrats Spreads Funding"] ]

Buell held a fundraiser for David Brock's Media Matters at her San Francisco home. A foundation that bears her name gave money to Media Matters through the Tides Foundation. [ [http://www.humanevents.com/article.php?id=23079 "Soros-Funded Media Matters Attacks Conservatives"] ]

Investor and businesswoman

Buell has been described in a podcast as "one of the most successful women entrepreneurs of all time." [ [http://www.startupstudio.com/Esprit-founder-susie-tompkins-buell/podcasts/2007/01/12/ "Esprit Founder Susie Tompkins Buell"] ]

From "Plain Jane" to Esprit

In 1967, Tompkins Buell and Jane Tise co-founded the Plain Jane clothing label. Plain Jane was making $2 million/year by 1970. Tompkin Buell's new husband Douglas Tompkins recommended changing the name to Esprit. Clashes with the existing partners of Esprit led to a buyout in 1975. By 1986, the global clothing brand had reached $800 million in sales. The Tompkinses divorced in 1988. [ [http://atn2002.tripod.com/intersections/id11.html "Another Roadside Attraction: Doug Tompkins and Susie Tompkins Buell"] ] , [ [http://www.sfweekly.com/1997-10-08/news/esprit-de-court/3 "Esprit de Court"] ]

The early sensibility of Esprit was seen as flowing from the personalities and interests of its founders. They were once described as "a pair of San Francisco hippie merchants who sold clothing over a North Beach massage parlor"

Leveraged buyout benefits Buell

After the 1989 divorce, Tompkins Buell led a 1990 leveraged buyout that allowed her to gain control of Esprit, and also earned her a profit of about $150 million. The buyout left Esprit deeply in debt. In two years it went into technical default on its outstanding loans and in 1997, Tompkins Buell relinquished all ownership of and involvement in the company to a consortium of investors.

In March 1997, Tompkins Buell sued the new owners of Esprit for $3 million she said they owed her in reimbursement for tax payments. Her ex-husband declined to file a similar lawsuit, saying he thought the legal basis for such a suit was thin. In response to the lawsuit, Jay Margolis, the new CEO of Esprit, barred Buell and all members of her family from entering Esprit headquarters. [ [http://www.sfweekly.com/1997-10-08/news/esprit-de-court/ "Esprit de Court"] ]

External links

* [http://www.susietompkinsbuell.org/ Susie Tompkins Buell Foundation]

Notes