Bad choice for Portfolio cover

John Koblin of the New York Observer writes Thursday that the latest cover of business magazine Conde Nast Portfolio, which features American Apparel CEO Dov Charney, is a bizarre choice given the current economic and Wall Street turmoil.

Koblin writes, “Joanne Lipman, the magazine’s editor, said that Dov Charney graces the cover because of the brisk business American Apparel did in the third quarter 2008, and because of his importance to the presidential election.

“‘American Apparel is a huge retail story,’ said Ms. Lipman in an e-mailed statement sent through a Portfolio spokeswoman. ‘Its sales are up 24% for the 3rd quarter at a time when the entire retail industry is in deep decline‹ plus Dov Charney (the owner) is out there on the eve of the biggest election in decades talking provocatively about the immigration issue.’

“The spokeswoman said that the cover decision belongs to Ms. Lipman.

“Ms. Lipman continues in the email: ‘The bulk of the inside of the magazine is about the financial crisis, including three major pieces by Jesse Eisinger and John Cassidy, including the definitive piece on the ‘patient zero’ of the crisis, the JP Morgan team that invented credit default swaps.'”

Read more here.