For Sid Harman, one $tock drops as another rises

Published January 16, 2008 5:00am ET



HIGHS AND LOWS

This was supposed to be a great week for Sidney Harman. The head of Harman International Industries (and husband of Rep. Jane Harman, D-Calif.) was one of 11 individuals being honored by Washingtonian magazine Tuesday at its annual “Washingtonians of the Year” luncheon.

But, then Monday arrived, and it was a Black Monday  for  Harman  indeed:  The  stock of Harman  International Industries took a nose dive,  closing  at  $43  a share (down 38 percent). It was HII’s worst single-day performance since it went public in 1986.

So Harman had plenty on his mind when he took to the  microphone  at  the Willard Hotel. Harman — a patron of the arts whom  the Washingtonian described in its latest issue as “a modern Medici” —

said to laughter , “If theater is right — if life is irony and paradox — consider that yesterday my stock was hammered and today I’m deified by the Washingtonian.”

All the world’s a stage, right?

Harman was joined by his wife and the other 10 honorees (such as C-SPAN’s Brian Lamb, Matt Gerson and the family of the late David Rosenbaum, who were honored for their work reforming Washington’s Emergency Medical Services system). The event was emceed by WAMU’s Diane Rehm and notables  in  the  crowd  included WJLA’s Maureen Bunyan, Maryland Attorney General Doug Gansler, Rusty Powell of  the National Gallery, Shakespeare Theatre Creative Director Michael Kahn and members of the Merrill family, who own the Washingtonian.

 

Several  “Washingtonians  of  the Year” from years past also attended,  including former GWU President Steve Trachtenberg, author  Ron  Kessler  and  longtime  White House reporter Helen Thomas.