Mastro pieces net about $341,000 at auction
The former real-estate magnate and his wife are on the lam, but a recent auction of the doodads they left behind netted his many creditors a smidgen of what they're owed.
Michael R. Mastro's 2007 Bentley convertible went for $92,500.
Seven different bargain-hunters paid a total of $2,525 for 15 pairs of women's designer sunglasses — Christian Dior, Versace, Gucci, Chanel.
Four bottles of Château Lafite Rothschild — wine fetched $2,200.
Altogether, an auction last month of Mastro's household goods netted about $341,000 for his numerous creditors, according to a report filed in bankruptcy court in Seattle this past week.
That probably sounds like a lot — until you remember the fugitive former Seattle real-estate magnate's debts to unsecured creditors have been estimated at more than $270 million.
A drop in the bucket? Not even.
The auction was conducted Jan. 25 in Palm Desert, Calif., where Mastro and his wife, Linda, moved in 2010 after leaving their Medina waterfront mansion, which bankruptcy trustee James Rigby later sold.
Now, of course, they're on the lam. But they left their china, crystal, art, furniture and wine collection behind for Rigby to do with as he wished.
The doodads included a Chihuly chandelier that sold for $35,000 at the auction, conducted by James G. Murphy Co. of Kenmore. A Steinway baby grand piano fetched another $17,000.
Also sold: 56 designer handbags. Twenty fur or fur-trimmed coats. Twenty-one sets of wineglasses, seven to 14 glasses per set.
And — bringing in a total of $7,900 — 65 pairs of high heels.
Notably absent from the auction: Two large diamond rings, appraised at $1.4 million, that the court ordered the Mastros to surrender.
— Eric Pryne, email@example.com
Ex-Starbucks CEO Donald has new gig
Former Starbucks President and CEO Jim Donald will now be running a company where they serve coffee — but it's not clear what brand.
Donald, who led Starbucks North American beginning in 2002 and left the company in 2008 when Howard Schultz reclaimed the top job, was named this past week as CEO of Extended Stay Hotels.
The North Carolina-based chain has 685 locations in the U.S. and Canada under several brands — Extended Stay America, ExtendedStay Deluxe Hotels and Homestead Studio Suites. News reports indicated one of Donald's tasks will be to consolidate those into a more unified brand.
Donald, who ran Pathmark and other grocery operations earlier in his career, followed his Starbucks role with a stint as president and CEO of Haggen before its acquisition a year ago.
Extended Stay's top brand advertises a Deluxe Mornings Coffee Bar, but they don't identify the "premium gourmet coffees" offered.
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