IWatch watch: Apple hires former Nike engineers

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Apple has hired two former Nike employees who worked on the FuelBand, hinting at plans for the iWatch.

MacRumors reported that Apple has snagged Ryan Bailey and Jon Gale, who worked on Nike's wearable tech device as a senior test and validation engineer and a senior firmware engineer, respectively. Nike announced earlier this year that it would stop developing its FuelBand, and this has increased speculation on an impending Apple product.

Read MoreApple poaches Swiss watch exec for iWatch launch

The website reported that Bailey is now a mechanical design engineer at Apple, and Gale is listed as a sensing systems engineer at the company. Many disparate positions at Apple use these titles, according to MacRumors, so it is not clear if the two are working on the much-rumored iWatch.

Several publications reported last month that the iOS8-operated iWatch would be released in October. Last week reports surfaced that Apple had hired the sales director of luxury watchmaker TAG Heuer to help with its iWatch launch.

Read More Apple snags Nike Fuel Band designer

More Apple iWatch signals

Apple has hired the sales director of luxury Swiss watchmaker "Tag Heuer." Slava Rubin, Indiegogo co-founder & CEO, and Jon Steinberg, Daily Mail North America CEO, discusses the upcoming smartwatch as Samsung's new "Android Wear" goes on sale today.

—By CNBC staff

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RPT-Soros Fund sued by former portfolio manager

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(Repeats story that first ran on Monday with no changes to text)

By Karen Freifeld

NEW YORK, July 7 (Reuters) - A former portfolio manager at Soros Fund Management sued the hedge fund firm founded by billionaire George Soros for nearly $20 million, accusing it of reneging on promises to pay him performance and other fees.

Aaron Cowen was employed by Soros Fund Management, which manages Soros' money, from November 2010 through July 2011, according to the lawsuit, filed July 3 in New York state court in Manhattan.

Cowen claims he was fired without cause, that he never received performance and management fees due him, and that the firm's refusal to pay and provide his track record has hampered his ability to raise capital to start a new fund.

"I don't know why you were let go," the lawsuit quotes Soros as telling Cowen days after his termination. "You were doing very well."

Soros Fund Management did not immediately respond to a request for comment, nor did George Soros.

Cowen worked as chief investment officer and portfolio manager at SAC Capital Advisors before joining Soros's firm.

He initially managed a securities portfolio with $500 million of assets for Soros, and was promised a base salary of $500,000, plus performance and other fees, according to the lawsuit.

Cowen generated $34 million between January and July 29, 2011, when he was terminated, earning him a fee of $3.9 million, the lawsuit said. His ideas also generated $30 million in revenues in Soros' chief investment officer's book, earning him another $1.5 million, it said.

In total, Cowen claims he is owed some $20 million, including more than $11 million in pipeline performance fees he would have earned up to April 2012, some $4 million more in 2011 performance fees, $2 million in management fees and at least $3 million in compensatory damages from the liquidation of his portfolio after his departure.

After he left, the firm cherry picked his portfolio for its most profitable positions, which were moved ito its funds, and sold off the remaining positions to his detriment, according to the lawsuit.

Cowen sued for breach of contract, fraud, interference with his contract following termination, and labor law violations.

The case is Aaron Cowen v Soros Fund Management, New York State Supreme Court (Manhattan), No. 652055/2014. (Reporting By Karen Freifeld, editing by Andrew Hay)

Go Inside Former Citi CEO Sandy Weill's Breathtaking Home In California Wine Country

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Sandy Weill Sonoma Home - Business Insider Featured Trending Recent Login Remember me I forgot username or password Login with Twitter Login with Facebook Login with LinkedIn Login with Google Register Events BI Intelligence Tech Finance Politics Strategy Life Entertainment All From To You have successfully emailed the post. Finance More: Real Estate Architectural Digest Sandy Weill California Sonoma House Go Inside Former Citi CEO Sandy Weill's Breathtaking Home In California Wine Country Patricia Leigh Brown, Architectural Digest Jun. 20, 2014, 4:53 PM 3,179 4 facebook linkedin twitter google+ print email print email share share tweet share print email Share on Facebook Share on Twitter Share on Linkedin share print email

Architectural Digest

Sanford I. Weill and his wife, Joan, are über New Yorkers. Known as Sandy, he is the former head of Citigroup and the longtime chairman of Carnegie Hall. She chairs Manhattan’s Alvin Ailey American Dance Theater. Then there is the city’s Weill Cornell Medical College, to which they have donated many millions of dollars. That being said, the Brooklyn-born philanthropists have succumbed to Northern California’s allure and put down roots in Sonoma Valley.

Situated on some 360 rolling acres that include a vineyard—the 2012 Weill a Way red received a 94 on Robert Parker’s 100-point index of excellence—the Weills’ compound is at the end of a vertiginous drive that meanders through fields of sprightly California poppies and live oaks. "We visited in August, four years ago, and the gardeners handed me a plum and a white peach," Joan recalls of their first encounter with the property. "Then the brokers brought us back one night and lit an outdoor fire. That clinched the deal." A year later the couple put their Central Park West penthouse on the market and started packing.

Architectural Digest

Conceived in the 1990s by Walker & Moody Architects, the firm that masterminded the Auberge du Soleil resort in nearby Rutherford, the Sonoma estate suggests an ancestral enclave in Tuscany. Italian terra-cotta tiles sheathe the higgledy-piggledy roofline of the two-bedroom main residence. A covered breezeway connects that building to a four-bedroom guesthouse—equipped with an indoor pool and a wine library—added by the Weills. There’s also a walled garden overflowing with old-fashioned roses, courtesy of the landscape architect Mai K. Arbegast, who devised the verdant grounds for the property’s previous owners.

Architectural Digest

To update the interiors, the Weills relied on designer Mica Ertegun, who began working with them on various homes eight years ago. "We were a little intimated by her back then," Sandy says. "Her reputation is so big." Today she is the Weills’ aesthetic alter ego, her portfolio including the couple’s former New York apartment and their villa in the Bahamas. Not only does the decorator share "very similar tastes," with her clients, she describes them admiringly as people who "appreciate that every corner of a home needs to be looked at."

Architectural Digest

Taking pride of place in the Sonoma main house’s sun-splashed entrance gallery is a 1940s Fernand Léger mosaic whose brilliant blues, yellows, oranges, greens, and reds dance against a light-ocher wall. To accommodate two of the couple’s Thomas Hart Benton paintings, the living room’s carved overmantel was removed, one of several architectural adjustments that Ertegun and John Schaberg, a senior project director at her firm, MAC II, made to the dwelling and its outbuildings. "I’m not a collector," Sandy says modestly. "But I know what I like." And what he likes encompasses everything from the languorous fashion illustration that hangs in the soothingly neutral master bedroom to the giant outdoor sculptures of pink and red roses by Will Ryman. (The overscale blooms were part of a public-art commission installed along ten blocks of Park Avenue in 2011.) When the Weills shop for art, Joan says they both have "the right of refusal"—though, her husband laughingly admits, in the case of the Léger, she lost.

See more of the stunning home >

More From Architectural Digest:

Tom Brady & Gisele Bündchen's Custom Château 

Ralph Lauren Shows off His Many Homes 

Sandy Weill's Wine Country Estate 

The World's Most Radical Houses

This article originally appeared at Architectural Digest. Copyright 2014. Follow Architectural Digest on Twitter.

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