Word: checchi
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...takeover may help inflame growing U.S. anxiety about foreign investment in American companies. Last week the U.S. Department of Transportation persuaded Alfred Checchi, who led a $3.6 billion buyout of Northwest Airlines, to reduce the participation by KLM Royal Dutch Airlines in the deal from $400 million to $175 million. DOT officials said they would also scrutinize plans by British Airways to invest $750 million in the $6.8 billion employee purchase of United Airlines. Transportation officials said one concern is that foreign investors might share inside knowledge about U.S. airlines with their own governments, thus undercutting U.S. negotiations with other...
...managers would get 10% and investor British Airways would have 15%. Beverly Hills billionaire Marvin Davis, who had bid $6.19 billion for UAL, said he would match the management group's offer if that package were to fail. In Washington a takeover group headed by Los Angeles investor Alfred Checchi outlined its $3.65 billion purchase of NWA, the parent of Northwest Airlines, in a voluminous filing with the Department of Transportation, which is reviewing the deal...
...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 an estimated $30 million by selling his shares after the price...
...Shrew. "We intend to make Shakespeare as successful a screenwriter as Abby Mann." Thus spake Director Franco Zeffirelli last year when he began filming The Taming of the Shrew. The screen credits maintain the mock-the-bard tone: script billing goes to Zeffirelli, Paul Dehn and Suso Checchi D'Amico, with a coy acknowledgment "to William Shakespeare, without whom we would have been at a loss for words." The irreverence in this case is less a shame than a sham. Despite the disclaimer, Zeffirelli has succeeded in mounting the liveliest screen incarnation of Shakespeare since Olivier's Henry...
...little and waited for normalcy to return. Adhering to this tradition, Eugenio Lopez agreed to sell off for $9,000,000 the Philippine Planters Investment Co., the holding company that controlled the Lopez sugar, cement and jute interests. Buyers: a syndicate of Philippine and U.S. investors headed by Vincent Checchi, a Washington, D.C., management consultant. The Philippine government gave its approval. But President Macapagal was not finished with the Lopez brothers. Fortnight ago, the government brought charges of personal income tax evasion against both brothers and accused Fernando of illegal interests in government contracts. Last week Macapagal ordered a probe...