Word: epees
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Dates: during 1990-1999
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...whose potential to generate revenue may have only just begun to be tapped. The market's elasticity will be tested by the new 330-seat Elvis Presley's Memphis, a theme restaurant and nightclub that opened last week in Memphis (opening act: folksinger Jewel, "the kind of entertainer," an EPE spokesman maintained, "Elvis would have selected were he alive today"). The company hopes that similar clubs, all serving the deep-fried peanut butter and banana sandwiches Elvis adored (as well as more healthful fare), will follow in Orlando, Fla., and New York City--not to mention an entire Elvis mini...
...weeks, the story of what happened after his death is both more unfamiliar and nearly as compelling, at least from a fiduciary point of view. Its unlikely heroine turns out to be none other than Elvis' "child bride," Priscilla Beaulieu Presley, who divorced him in 1973 but took over EPE six years later as trustee for their young daughter Lisa Marie. (EPE was and is the operating arm of the trust that owns the Presley estate.) At the time, the company's principal asset was dead, his shockingly modest estate of $4.5 million was rapidly dwindling, and his popularity...
...million and virtually no income and built an enterprise with yearly revenues of an estimated $75 million and a likely value in excess of $250 million, with a public offering of stock expected soon for its new restaurant properties. The accomplishment is all the more remarkable given that EPE does not have title to most of the recordings that made Elvis Elvis in the first place...
...records, more than any other musician in U.S. history. Just how good an investment this was for RCA is strikingly evident today: Elvis remains, in 1997, its most successful act (though this is perhaps as much a comment on the moribund label as on the singer). The sale left EPE with only the royalties from recordings after 1973, which included few hits. The company in recent years has purchased the publishing rights to the music of two-thirds of Elvis' recorded songs, but it never got back the recordings themselves...