Word: gucci
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Dates: during 1990-1999
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...lobbyists can raise cash to promote the Contract. What do the lobbyists get in return? Awe-inspiring access to the legislative process, including the right to write the bills themselves, like the one passed last February that imposed a 13-month moratorium on federal regulations. During floor debate, the Gucci set stood close by, typing out on their laptop computers the talking points that Republican leaders would use on the floor. Gingrich's money operation is now purring: during the first six months of this year House Republicans received nearly 60% of the campaign contributions given...
...GUCCI Tough new restrictions on D.C. lobbyists may put a serious dent in loafer sales
...match. Investcorp's success in the Middle East may also be due to its marketing documents, which are not overseen by Western regulatory agencies. The contrast is striking between an Investcorp private-placement memorandum and a prospectus approved by the Securities and Exchange Commission. The SEC-approved prospectus for Gucci is filled with warnings and disclaimers, including a section on "risk factors" that runs 3 1/2 pages. A Saks private-placement memorandum circulated to mostly Arab investors discusses risk factors in less than a page and the language is much less blunt...
...Kirdar was their bridge to the West. He spoke their language, sprang from their culture, yet was Western educated (he has an M.B.A. from New York's Fordham University) and had trained in a big U.S. bank. Kirdar understood his clients' taste in brand names. One reason Investcorp bought Gucci, says an Arab banker, is that "the Arabs wear the shoes." Many were happy to hand millions of dollars to Kirdar with few strings attached...
...Gurwin, a new member of TIME's investigative unit. That dedication is amply displayed in this week's report by Gurwin and Washington correspondent Adam Zagorin on Investcorp, the high-flying and secretive Arab investment boutique that bought Tiffany and Saks Fifth Avenue and engineered the stunning turnaround of Gucci. "Although Gucci is a triumph, many deals have been duds--something few people realize," says Gurwin, who is based in Brussels. "We wanted to take a close look at how Investcorp does business...