Word: dealing
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Dates: during 1990-1999
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...line. He and Sony are partners in the $8 million-plus theater investment, including the Magic Theatre at the Baldwin Hills Crenshaw Plaza in South Central Los Angeles, a top-grossing movie house. "Everybody in Hollywood said it wouldn't work," Johnson says of the L.A. deal. "They laughed at us, and they laughed at Sony. Now they want to know how they can help." The theater's success has given an assist to other businesses there. Like Greenbriar, the mall had been struggling, with occupancy languishing between 65% and 70%. Since the theater opened in 1995, occupancy has recovered...
...profit) he leads a traveling basketball show called the Magic Johnson All-Stars around the world like a rock tour, playing exhibition games against foreign basketball teams. And since he lives in L.A., it was only natural for him to get into entertainment. He has signed a production deal with Fox Family Films, and is wrapping up another to act as host on a syndicated talk show for Twentieth Television. Johnson will be co-executive producer of the talk show with his longtime agent, Lon Rosen. Once again it will be showtime for Magic--and once again...
...Nabisco (Winston, Camel), have jumped 39%. Sure, the industry just won a slew of important court cases. But that's hardly news. Big Tobacco has been snuffing out liability claims in the courts for decades. What's new is a persistent buzz that some kind of deal is in the works to end tobacco litigation. Such a deal would unshackle tobacco companies from the ball-and-chain view that they might one day be wiped out by a hostile judge or jury. It would free investors to value the prodigious earning power of Philip Morris and RJR like any other...
...long-in-denial tobacco industry had to notice. The burning question is this: If the market is ready to embrace such a costly settlement--and antitobacco forces, realizing they're getting nowhere fast in their legal battles, will go for it--how can tobacco executives refuse? Wouldn't a deal be best for everyone? I don't mean to be callous. Clearly there are moral issues here. But let's face it, litigation ultimately comes down to compensation. Nobody sues for a righteous apology...
...pays $600 million a year defending itself. The problem is that as long as the companies keep winning in court, the amount that strikes them as reasonable is not much more than their legal bills. And that's too bad, because now is when they could cut their best deal. The markets, President Clinton and plaintiffs' lawyers all seem eager. It's time to quit blowing smoke and bring this battle to a close...