Word: du
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...like grazing beasts--not good, not evil, just hungry. They form green-sounding lobbying groups and contribute millions to lawmakers. Something called the "National Wetlands Coalition" raised $7.8 million from British Petroleum, Georgia Pacific, Kerr-McGee and Occidental. The "Clean Water Industry Coalition" raised $15.8 million from Caterpillar, Dow, Du Pont and Union Carbide. Al Meyerhoff, of the Natural Resources Defense Council, says, "Industry lobbyists are writing laws and legislative history. They're doing everything but voting, but maybe that's next...
...style majesty and grandeur are now elements of many Vegas shows. Some, especially Cirque du Soleil's $33 million Mystere at Treasure Island, have the otherworldly vision to transcend this outsize format. And some, like EFX--a $67 million investment, including $27 million to equip its theater with 3-D movie projection, a "fog wall" of steam and liquid nitrogen and hot-wired rumble seats--are content to give visitors a hell of a high-tech ride...
...niche," Kutash says, "which is the key to making it in Vegas. How many magic shows can you have, how many French shows, how many circus shows, before you become redundant?" Steve Wynn will test that premise next year. His Beau Rivage will feature a new production by Cirque du Soleil: a water show. It may be great. But to be a true Vegas show, it will have to be like nothing--and everything-you've seen before. With music...
Entertainment executives saw MCA as a smart buy for the 21st century: surely there are rosier prospects for software than for spirits. But Bronfman wasn't selling his whiskey interests; he was giving up on a company with a strong present (Du Pont stock accounted for nearly 70% of Seagram's pretax profits last year) and a robust future. Unsurprisingly, Wall Street greeted both the Du Pont sale and the MCA negotiations with derision. On Friday Moody's Investors Service announced that it was considering "the possible downgrade" of Seagram's debt. Seagram stock dropped nearly 17% during the week...
Close watchers of Seagram thought Bronfman got too little for his Du Pont stake. Says Ken Shea, an analyst at Standard & Poor's: "It doesn't make sense to dump a solid business like Du Pont, which throws off good dividends, and take on a much riskier investment in MCA. But then the press accounts of Edgar Jr. don't give him a lot of credit. They paint him as a Dan Quayle who is ready to wreck Seagram...