Word: hollywoodism
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...Planet partner Arnold Schwarzenegger about the company's financial troubles. Sure, Earl would love to win one for the Terminator, Bruce and Sly, but mostly Earl wants to get even and get rave reviews once more. "I've never had a failure in my career," he says. Welcome to Hollywood...
...easy. As a business, Planet Hollywood turned into the Death Star shortly after going public. But British co-founder Earl won't let go. "I have one desire in my business life," he says, "and that's to put Planet Hollywood back on top." A veteran restaurateur, Earl flits into Manhattan from his Florida home, and between brunch with Puffy, dinner with the Donald and beseeching Lehman Bros. to create a $50 million mezzanine fund, he pauses to reflect on his role as comeback kid. Last June, six months after Planet Hollywood International emerged from Chapter 11: Part 2, Earl...
...when he was still running Hard Rock Cafe, Earl launched Planet Hollywood with the help of celebrity partners, including Bruce Willis and Sly Stallone, who got paid in stock to go to openings and attract free publicity. Star power helped propel the firm to a dotcom-style IPO in 1996 with what even Earl describes as "insane multiples." On paper, Planet was worth some $3.4 billion at its apex--and Earl more than $1 billion. But its stock, which peaked at $32, was delisted just before Planet's first bankruptcy in 1999. The chain, based in Orlando, Fla., had barreled...
Sitting at a booth in the Planet Hollywood on Times Square, Earl, 52, alternates between resting his hand Napoleon-like between the buttons of his characteristically loud shirt and smoothing back his disco-king hair. A trio of unhip tourists walk in. "This is my market," he says, nodding at them as they gaze up at the massive movie props--cars, snowmobiles, not-so-miniature planes--dangling from the ceiling. "They'll buy a T shirt when they leave and probably go to a matinee. And they'll probably go to Vegas...
...Betting on a Rebound Robert Earl of Planet Hollywood banks his rep on a Las Vegas resort...