Word: diller
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...Barry Diller, QVC Network chairman and a failed contender for Paramount. Starting up Q2, a second, allegedly hipper shopping channel aimed at Generation X consumers who are presumably uninterested in cubic zirconium. Reported to be planning a takeover run at Time Warner, but denies these rumors as "silly nonsense...
...Wall Street and the quants are stuck with each other. Stanley Diller, 58, an early quant who is managing director of fixed-income research at Paine Webber, left a job as an economics professor at Columbia in the mid-'70s to join Goldman, Sachs & Co.'s equity-research department. In those days, he says, "research was largely an image builder. It was something that brought in the customers." Now quantitative research "is the whole deal." If you don't have it, says Diller, you can't produce the new financial instruments, " 'cause you get crushed trying to hedge them." Meaning...
...result is that techies in large numbers -- engineers who lost jobs at the superconducting supercollider, doctoral students bored with their computer-science dissertations -- are heading for Wall Street. Says Diller: "The people who study science but are not themselves weirdos -- a small subset, people who can adapt to the real world -- become aware that they can make a lot more money...
...ventures between them, and each firm is already eyeing prospective new partners. "There's plenty of adrenaline pumping here," Smith says. "We are a company on the prowl." So is TCI. No sooner had the merger collapsed than rumors began flying of a joint expedition by Malone and Barry Diller, who had only just lost his five-month fight for Paramount Communications, to find themselves a Hollywood studio...
BUSINESS: The Deal That Forced Diller to Fold...