T A B L E__T A L K Who has how much money, and why? Discuss salaries, options, benefits and minimum wage in the Business and Personal Finance area of Table Talk R E C E N T L Y Finding the g(ive) spot By Kevin Kelleher In the increasingly competitive quest for dollars, charity organizations are looking for ways to find that magic motivational appeal (05/29/98) The reluctant capitalist By Heather Chaplin Salon's Reluctant Capitalist looks at the knotty problem of what to do when you've won $195 million on the lottery (05/22/98) The reluctant capitalist By Heather Chaplin From red to green (05/15/98) Baby bulls By Heather Chaplin Young turks ride high on the booming stock market (04/15/98) Greener pastures By Jenn Shreve Out of the growing glut of finance mags, one zine is poised to capture the expanding market of young investors (04/15/98) - - - - - - - - - - - - - - - - Browse the Money archives		MAD ABOUT STEVE MADDEN | PAGE 1, 2 - - - - - - - - - - To visit one of Madden's stores is to see his success in action. In January, I visited his Manhattan shop in SoHo, and I saw young women practically falling over each other and themselves in blind grabs for boots, platforms, thick sandals and high-heeled loafers. Granted, there was a sale that week, but still. Madden's line has succeeded in the cutthroat world of women's shoes through an ingenious adaptation of the knock-off. His shoes aren't simply copies of high-end DKNY and Guess? styles that women like me can't always afford. They are more like interpretations, or translations, of high-fashion shoes, which often turn out to be closer to what I'm looking for than the shoes I initially covet. Financial analysts and Wall Street seem to approve. At least three securities research firms initiated coverage of the company this year, and it's been rated a strong buy by Ferris Baker Watts and a buy by Wasserstein Perella Securities and Hambrecht & Quist. The stock debuted in 1993 at just less than 6, quickly tumbled to 2, and, despite a rocky half year in 1996, closed Thursday at 10 3/16. While the original Steve Madden shoe is aimed at girls 16 through 25 (OK, so I aim to be eternally young), the company, in a move applauded by Wall Street, is reaching out to other markets. Last year, it created a private label called Adesso/Madden, a knock-off of the Steve Madden line, for stores like J.C. Penney and Target. J.C. Penney is so enthusiastic about the line it might install 200 in-store shops for the label, according to one analyst. Covering his bases at the other end, Madden also acquired the pricier ($100-$150) David Aaron shoe line, targeting women age 27-44, who supposedly have more sophisticated taste and fatter pocketbooks. Not content with shoes, the company last year began licensing the Steve Madden name for sunglasses, handbags, hosiery and other accessories. This part of the Steve Madden empire alone is expected to grow by 40 percent annually, according to one equity research firm. The main concern analysts express about Madden's future centers on the man himself. Not on his talent or marketing savvy but rather on the fact that there is just one of him. As with other personality-driven fashion houses -- Tommy Hilfiger, Ralph Lauren and Kenneth Cole to name a few -- the success of the company rests on the founder's shoulders. What happens if, for any reason, Madden becomes unable to carry the weight? In all probability, the stock would plunge, analysts say. And I must confess, I share their concern. Not about the market valuation -- stock shmock, as far as I'm concerned -- but if something happens to Steve, what am I going to wear? SALON | June 5, 1998