Word: gordons
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...Vegas, whose towering, grandiose signs Writer Tom Wolfe once characterized as "Boomerang Modern" and "Flash Gordon Ming-Alert Spiral," neon has not faded. The skyline remains an electric testimony to a raw and rambunctious American spirit. With its arrival elsewhere in so many shops and galleries and trendy facades, neon, which after all is the Greek word for new, seems to have found a means of staying that way. The medium has learned to bend with changing tastes...
...million would be reason to celebrate. But heirs of Billionaire Oilman J. Paul Getty, who died in 1976, chose to litigate instead. In a bizarre and bitter feud, family members sued to break up the $4 billion trust that has been the source of their fortune and to remove Gordon Getty, 51, a son of J. Paul's, as sole trustee...
Last week, after 18 months of acrimonious court battles, family members agreed to settle the case. Under terms reached in Los Angeles, the Sarah C. Getty Trust -- named for the oilman's mother -- will be split into six parts. The agreement ends Gordon Getty's control of one of the largest U.S. family fortunes and divides the authority among the four branches of the Getty line, which includes 26 heirs. Said Seth Hufstedler, one of some 20 lawyers in the landmark case: "Great efforts have been made toward family peace. The alternative is clearly years and years of bitter litigation...
...Getty's five sons, who died at 49 of an overdose of barbiturates and alcohol in 1973. The daughters (Anne, 32, Claire, 30, and Caroline, 27, known collectively to the lawyers as the Georgettes) had received $35 million annually, in contrast to the more than $100 million that Gordon got, and resented his power over the trust...
...major issue was Gordon's decision to sell the trust's 40% ownership of Getty Oil stock to Texaco last year as part of Texaco's $10 billion acquisition of the Getty firm. While the sale of Getty stock greatly enhanced the trust's value, the Georgettes argued that the deal violated provisions of the trust and that Gordon, who sings and composes opera, had abused his authority as sole trustee...