Word: dealing
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Dates: during 1990-1999
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That's not to say Sternlicht has built an empire on a tax loophole, or that his stock would completely deflate. He's a respected hotel owner-operator who has already cut a $1.6 billion deal for Westin Hotels and has franchise agreements with major chains, including Hilton. It's not even clear that Starwood's structure gives him an unfair edge. Bollenbach says it does; Sternlicht says it doesn't. Ken Kies, chief of staff for the congressional Joint Taxation Committee, is concerned enough to be looking, but he says chances of a change anytime soon "are about zero...
Judge John W. Ouderkirk pressed hard for a deal, but when the two principals finally met face to face for a court-ordered chat on Nov. 3, things didn't go well. Having blown off some steam, the boys may finally be ready to talk and thus deprive Hollywood of a deliciously vicious courtroom clash. Technically, a jury would determine only whether Disney violated the contract. If the jury found it did, an arbitrator would determine the damage award...
...over the $130 million or so that Disney dealt to Michael Ovitz after firing him as president last December. Conversely, the Ovitz settlement ensures that Katzenberg's sights are set high: Why should Katzenberg take less for 10 successful years than Ovitz got for 14 unimpressive months? If a deal is made, three things seem certain. One: the terms will be sealed. Two: the amount will be leaked to the press--by both sides. Three: the numbers won't come close to matching...
...cellar to admire his own private collection of hot masterpieces? Were they stolen by political factions to trade for their prisoners? Or was this just a score by local bad guys who thought they could unload the paintings to a fence, or use them as collateral in a drug deal, or trade them for reduced sentences on other crimes...
...from the beginning, the U.S. Attorney's Office has entertained no thoughts of letting two career criminals waltz away with $5 million in spending money in return for the art. The office is willing to deal--but on its own terms. For his part, Myles Connor last week told TIME he would forfeit any reward or reduction of the 2 1/2 years left on his sentence, provided Billy be freed and three other unnamed inmates have their cases reconsidered. The three mugs got bum raps, says the rogue crusader...