Word: brand-new
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...THEIR STYLE THAT TODAY'S millionaires differ most strikingly from the new rich of the past. Rather than build huge houses of questionable taste in Newport or Palm Beach or Aspen, the brand-new millionaires may live in two-bedroom apartments and wear T shirts and jeans. Rather than jet to Tahoe for the weekend in their Gulfstream, they are liable to be with the kids at the neighborhood soccer league. Running-shoe chic is often a pose in Hollywood and Silicon Valley, but this modesty appears genuine. Today's newly superrich are models of free enterprise, except...
...motivation for Bill Schrader either. He's another brand-new IPO multimillionaire--his company, PSINet, went public last May. It claims to operate the largest service devoted to providing Internet access to businesses and individuals. Schrader's life has remained the same--he still works seven days a week, still drinks 20 Diet Cokes a day, still unwinds by throwing a softball around with a colleague, talking about business. He and his wife, he says, "go out to dinner a bit more...
...practiced all his life. As rivals and reporters dig through his biography and professional record, a pattern that emerges is a gift for conflict avoidance. Being rich, to start with, provides a lot of cushion. Forbes' Princeton friend Chris Leach recalls the day in 1970 when he borrowed Forbes' brand-new, bright orange Mercury Cougar XR-7 to make a pizza run--and totaled it. When Steve found out, Leach recalls, "he just looked at me and said, 'Uh-huh.' And he called his father, and his father came down from Far Hills, and they were really nice about...
BUDDY NIX, 53, ATLANTA: Gun Watcher Georgia's brand-new Instant Gun Check is a success--with one loophole. If Georgia Bureau of Investigation phones are down for one business day, any applicant can get a gun--no questions asked. When a two-day blizzard shut down Atlanta last month, GBI director Nix arranged for stranded phone operators to be driven in by four-wheel drives. During that period, 24 would-be purchasers turned out to be convicted felons...
...others are stealing my ideas." Just when President Clinton and Republicans in Congress admit they are unable to cut the budget through negotiations, Forbes arrives and proposes to do it by fiat. Now, says Jack Kemp, who was only one of the many voices last week calling for a brand-new tax system, "the whole debate is how low to have the tax-rate system, how fair it should be." The issue reached critical mass on Wednesday, when Gramm unveiled his own version of a flat tax and Kemp's commission, which Dole had charged with reviewing the tax code...