Word: firm
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Dates: during 1990-1999
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Going smaller is the strategy devised by IMAX's co-CEOs, Bradley Wechsler, 46, and Richard Gelfond, 42, two former investment bankers who were part of a group that acquired IMAX for $90 million in 1994. They saw in the Canadian firm a sleepy moneymaker. IMAX, founded in 1967, was "run like a candy store by its five original founders," says Wechsler. "There was really no business discipline." Since then, revenues have doubled, to $158.5 million in 1997, while profits have increased, to $20.7 million from a loss of $11.6 million in 1994. In the first quarter, revenues were...
Bankrolled by a Seattle multimedia firm, Smoke Signals was shot on a $1.7 million budget after being developed at Robert Redford's Sundance Institute, which sponsors a program for fledgling Native American filmmakers. Though he had been approached by producers eager to adapt his works to the screen, Alexie bided his time until he found an Indian director with respect for the material. Enter Chris Eyre, a 28-year-old Cheyenne-Arapaho director of shorts and documentaries, who read Alexie's book and cold-called him for a meeting. Their film, later acquired by Miramax for close to $3 million...
Curiously though, as "Mr. Conservative" stuck to his libertarian principles and advocated now-un-conservative positions, he was increasingly ostracized by the conservative monster he had helped create. When he argued for gay rights, abortion rights and a firm separation of church and state, Goldwater's small-minded ideological progeny would shake their hands, allude to Barry's failing health and his younger, more liberal wife. As he related to a National Review editor, "I haven't been invited to speak at the CPAC (Conservative Political Action Committee) for maybe 15 years? You'd think I was on the other...
Gucci's sexy but sleek designs still press all the fashionistas' buttons, but the firm has been buffeted by other ill winds, from the ongoing trial in Italy of Patrizia Gucci (charged with murdering her ex-spouse Maurizio Gucci, grandson of the company's founder) to worries about the fallout from the Asian financial crisis. Last September, when De Sole announced that profits growth for 1997 would be lower than expected, Gucci stock plummeted almost 20% in one day. Sure enough, the company announced last week that this year's first-quarter net profit had dropped 10% from last year...
...been out of business school for two years, joining precocious stock pickers like his rising Fidelity colleague Erin Sullivan, also 28. While few shops actually give newbies a chance to run a fund as early as Fidelity, it's not too hard to find a fund at any firm that's watched over by some very innocent eyes--a trend that raises some skeptical industry eyebrows. "It's an interesting concept," cracks Jeffrey Molitor, principal at fund giant Vanguard, a Fidelity competitor, "giving somebody someone else's money to train with...