Word: checchi
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...Checchi is good looking, in the John F. Kennedy mold. He's smart, Harvard M.B.A. smart. And he's rich, very rich, centimillionaire rich. He has a gated mansion in Beverly Hills, a beautiful lawyer wife, a California tan--and enough of a '60s sensibility to feel guilty about it all. After nearly three decades of making money with the Marriott Corp., the Walt Disney Co., the Bass brothers and Northwest Airlines, Checchi says it's time to give something back. At age 49, he's running for office for the first time in his life. He wants...
...California's most popular politician, Senator Dianne Feinstein, decides to go for the same job, then Checchi (pronounced check-ee) will probably be remembered as just another unsuccessful millionaire-politician with an expensive taste for public service. But if she doesn't run, the Democractic nomination may be Checchi's to buy. That's because for the first time in its history, California's gubernatorial race will have two rules that favor a tycoon with no voter following. The first is an open primary, which means voters can cross party lines; the second is a $1,000-per-person limit...
...Checchi has already started spending. Last week he bought $3.5 million worth of television time for ads that will run before the end of the year, the earliest ever for a gubernatorial race in California. After that, according to media buyers, Checchi will have to drop $1 million a week on TV ads to reach the state's 5 million primary voters. That could total $40 million, which would make the state's 1998 gubernatorial race the most expensive ever. Lieutenant Governor Gray Davis challenged Checchi this month to agree to the $6 million spending limit imposed by California...
...suitor for Eastern's planes and gates is Northwest Airlines, whose chairman, Alfred Checchi, is a friend of Shugrue's. Will the indictment frighten him off? Not likely. "The die is cast. Eastern has a limited life," says analyst Robert McAdoo. "The indictment may even scare creditors enough to enable a company like Northwest to cut a sweeter deal." Though Eastern's absorption by a rival would increase airline concentration and reduce competition further, some travelers seem untroubled. Says Christopher Witkowski, director of the Aviation Consumer Action Project, a group formed by Ralph Nader: "If the allegations are borne...
...grip of takeover fever. After fending off bids from Los Angeles oilman Marvin Davis, the management and employees of No. 2-ranked United in Chicago are attempting to take their company private for an estimated $6.7 billion. And last June an investor group led by Los Angeles financier Alfred Checchi paid $3.6 billion for No. 4-ranked Northwest Airlines. Of the four largest U.S. carriers, only No. 3, Delta, has yet to take a direct hit in the takeover wars. And its turn may come...