Word: diamond
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...contract on a case of 1985 or 1986 Cabernet Sauvignon Reserve is betting that the wines will increase in value by 1989. Because the contracts will bring in cash two years before the wines are usually sold, about 30 California vintners, including such names as Iron Horse and Diamond Creek, are following Mondavi's lead...
What do Frank Sinatra, Diana Ross, Neil Diamond, Miami Vice, Little Shop of Horrors and Nair hair-removal cream have in common? They have all generated earnings for an obscure Los Angeles company, the Four Seasons Partnership. Like many businesses in the entertainment field, the firm employs technicians, musicians and other professionals, but the heart of the company is a 25-year- old creative and financial partnership between two men -- Bob Gaudio and Frankie Valli -- that is highly unusual, if not unique, in the world of business. Gaudio, 46, is a composer, pianist, arranger and producer who has worked...
...money than the other. But over time things even out. In 1978 Valli was the big breadwinner because he sang the title song from the movie Grease, which brought in an estimated $2 million for the partnership. In 1981 Gaudio starred, when the music he produced for the Neil Diamond movie The Jazz Singer earned him perhaps $1 million or more after divvying up with Valli...
Then in 1867 somebody discovered a diamond near the Orange River. "Gentlemen," said the British Colonial Secretary as he inspected one of the earliest of these discoveries, "this is the rock on which the future success of South Africa will be built." Indeed, a quarter of a billion carats were to be dug out in the next century. Since the diamonds lay in Afrikaner lands, the British simply declared that they were annexing those lands, and British miners came pouring in. Two decades later rich deposits of gold were discovered in the Transvaal. Still more Britons and other foreigners came...
...takeover. Dubbed "tin parachutes," the payments sometimes reach 250% of an employee's annual salary. Webb Bassick, a partner at Hewitt Associates, a consulting firm, estimates that as many as 15% of all large public companies have such packages. Among them are Mobil, America West Airlines and Diamond Shamrock, an oil conglomerate. Says Bassick: "It's refreshing to see companies looking at their moral obligation to employees" -- and countering corporate raiders at the same time...