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Rich Women Wearing Dresses More Than Once!

Oct. 27 2008, Published 7:07 a.m. ET

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MONEY IN THE BANK Holly Peterson Holly Peterson, who is the daughter of Pete Peterson, the former chairman of the Federal Reserve Bank of New York (and whose firm, Blackstone Group, has lost two-thirds of its value on the market since this time last year!), is "reporting" that things are not so bad for the rich. Notes Holly: "Belt-tightening in this set doesn't mean cooking your own dinner, it means flying commercial instead of chartering a jet to fly to Aspen for the Columbus Day weekend. (Not that they couldn't afford the $80,000 round trip, I heard several say, but it just didn't 'feel right.') Everyone is talking about the fabulous new JetBlue terminal at JFK airport with its gourmet food delivery." Yes, they're not chartering jets, but if you already own one, of course you're still going to use it—it's just wasteful to keep the pilot's retainer paid without using him. Also, women are wearing dresses twice now!

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