Word: bigs
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Dates: during 1980-1989
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Either way, Davis is likely to score big, which is his habit. He used his oil profits in 1981 to buy 20th Century Fox, then sold it to Rupert Murdoch four years later for an estimated profit of $325 million. Davis picked up another $50 million by buying the Beverly Hills Hotel from the family of insider trader Ivan Boesky in 1986, then turning around and selling it to the Sultan of Brunei. Even Davis' "dry hole" takeover attempts often pay off. While Los Angeles investor Alfred Checchi won Northwest with a $4 billion bid, for example, Davis pocketed...
Davis' sons John, 35, and Gregg, 26, are his business partners. John says his father taught him to do his homework, then "trust your gut." Sometimes the big man means it literally. When Davis spotted a good investment in the Carnegie Deli, the venerable Manhattan restaurant featured in Woody Allen's Broadway Danny Rose, the financier struck a deal to open a Hollywood branch. The glitzy grand-opening party last month featured a 3-ft. plastic matzo ball being lowered into a vat of simulated chicken soup. Best of all, Davis can now order his favorite pastrami sandwiches at poolside...
...well they give you this big friendly pitch about how you can use the checks for anything, like to pay the electrician or to pay tuition!" "So?" I ask. (I too think these checks are a minor scandal, but I like to hear Joey get worked...
...outstanding charges and quit using the card. ((He switched to his United Airlines Visa.)) Then I took one of the checks they sent me, made it out to myself for $10,000 and deposited it in my bank. So I was borrowing $10,000 from MasterCard. ((He has a big credit line.)) But at the same time, I sent MasterCard a real check for $10,000." A couple of days later, three things happened...
Recently, few have felt the sting of RICO as much as the denizens of Wall Street. Federal prosecutors have used the law to go after big names like former junk-bond maestro Michael Milken, who is expected to be tried early next year on charges involving securities fraud. Two weeks ago, several executives of Princeton/Newport Partners were convicted for their roles in illegal stock-trading schemes. Two days later, the Justice Department indicted 46 traders at the Chicago Board of Trade and the Mercantile Exchange, 18 of them on RICO charges. And just last week the law was used...