Word: disneying
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...accompanying article were incorrect. TIME implies that I left Thielen with debts of $3.5 billion. At the end of my tenure as Bertelsmann's CEO, its debt was €334 million, the lowest debt of all big media corporations that I know of. Companies like Time Warner, Disney or Vivendi Universal are paying this as annual interest. TIME implies that I left "a slew of dubious new assets." The truth is that all the acquisitions under my leadership delivered the originally budgeted returns and Bertelsmann faced no write-off. You also write that Bertelsmann owner Reinhard Mohn "was so upset...
...Harrigan and CalPERS didn't open the door to criticism. During most of the post-Enron era, CalPERS was above reproach, suing to hold WorldCom executives accountable for investor losses and helping lead popular, triumphant crusades for boardroom and executive-suite overhauls at the New York Stock Exchange and Disney. But earlier this year, CalPERS moved from the spotlight to the hot seat when it withheld support from Coca-Cola director and shareholder hero Warren Buffett because Coke's independent-auditor policy was allegedly too lax. At the time, John Castellani, head of the prestigious Business Roundtable, said the CalPERS...
Michael Lynton doesn't fear challenges--he embraces them. That's a good thing, because he is leading Sony Pictures Entertainment through a period of tectonic shifts in the movie industry. At Sony, the former Disney executive who then headed Penguin Group and later AOL Europe will have to slash costs, find new opportunities in video-on-demand and combat file-sharing piracy. But Lynton believes there's a future for DVDs; he helped bring in a major financing partner for Sony's purchase of MGM and its valuable library of movies. "With new technologies," Lynton says, "the DVD becomes...
...theater, which is being refurbished. Richard Eyre, former head of Britain's National Theatre, mutters into a headset, while co-director and choreographer Matthew Bourne adjusts an elbow here, a twirl there. Technicians are honing the effects. "It looks very high tech," says co-producer Thomas Schumacher, president of Disney Theatrical Productions, "but this show doesn't employ any techniques that haven't been in use for decades." Perhaps, but with flying stunts and a house that appears and disappears, the show is dressed to impress. And no wonder, given this team's track record. Mackintosh landed a helicopter...
...woes. Despite the College’s keg ban, the Boston police were shocked to find out that students were imbibing extreme amounts of hard alcohol. While those of us who attended The Game last year at the Yale Bowl feel that our celebration, while enjoyable, was the Euro Disney of tailgates, the police feel differently. And perhaps for good reason...