Word: bluhdorns
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What is better than a good businessman? Answer: a good lucky businessman. Charles Bluhdorn, the highly creative and sometimes abrasive chairman of Gulf & Western Industries, is just that. In the 1960s he built G. & W. into a prosperous conglomerate, piling one acquisition atop another, from auto parts to zinc mining. But along with many other conglomerates, G. & W. foundered when tight money and recession struck a couple of years ago. Now Bluhdorn is making a comeback, lifted by a business where luck is a necessity: motion pictures. In his palmier days, Bluhdorn bought Paramount Pictures, lately the producer...
...Bluhdorn is fortunate, because five years ago his Paramount executives bankrolled an obscure author, Mario Puzo, while he wrote The Godfather. Paramount got the rights to the screen version for a mere $80,000 plus 21% of the net profit for Puzo. Thanks to fine scripting, directing and acting, the picture stunned both critics and commoners (TIME, March 13). Only eight weeks after release, it has grossed nearly $50 million.* By the end of G. & W.'s fiscal year in July, The Godfather is expected to show a pretax profit of $10 million. According to industry experts, the movie...
...transfusions of capital." The church has also been reducing its holdings in real estate, and transferring them into securities. Added the cardinal: "We want to improve investment performance-balanced, of course, against what must be a fundamentally conservative investment philosophy." For instance, the Vatican sold off-to Charles G. Bluhdorn's Gulf & Western-two-thirds of its 15% interest in Immobiliare, the international construction company that built Washington's chic Watergate apartments...
...Evans, after the infighting and jealousies of Seventh Avenue, the business side of Hollywood was like a week in the country. He sold his shares in the pants company (Evan-Picone), grossed a few million bucks and began a new life as an independent producer. Conglomerateur Charles Bluhdorn figured that Evans was just the man to run Gulf & Western's new bauble, Paramount, and put him in charge. Evans started well, with successful films, including The Odd Couple, Barefoot in the Park, Rosemary's Baby and Goodbye, Columbus. But he also shepherded some monumental losers, notably Paint Your Wagon...
Then came the black knights. First, Charles Bluhdorn, ruler of the aggressive empire of Gulf & Western, cast covetous eyes at Prince's Armour. Secretly manipulating his pawns on Wall Street, Bluhdorn acquired almost 10% of Armour before Billy could blink. In the nick of time, an ally, the Trustbusters, came to Billy's rescue and went after Bluhdorn with mace and chain. Bluhdorn wisely sold his interest in Armour to another power, General Host, whose ruler, iron-willed Richard Pistell, also coveted Prince's realm. Pistell offered Billy's shareholders a chance to trade Armour stock...