Word: jay
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Dates: during 1990-1999
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...more than a decade, the host of NBC's Late Night had been passed over for the job as Johnny Carson's successor on the Tonight Show. But he parlayed that slight into a lucrative new contract at CBS and his own 11:30 p.m. show to compete with Jay Leno. The crowds that jammed his studio audience gave him standing ovations every night; his Top 10 lists became a national obsession. The ratings soared, surpassing Leno's. Dave was a winner, and America loved...
...Nightline, and his surly, subversive comedy has gone back to being a minority taste. Leno, after a rocky start, has the hot hand, with newsmaking guests (Hugh Grant, Magic Johnson), big-event ambiance (traveling to the Super Bowl) and the most relentlessly flogged O.J. bits on TV. Now Jay is the one getting the nightly ovations...
...director Betty Thomas), and the movie gives a good picture, in broad strokes, of how the TV business runs: badly, most of the time. NBC's executives, surprised by Carson's retirement and egged on by Leno's aggressive manager, Helen Kushnick (Kathy Bates), promised the job to Jay without comprehending how it would upset Dave. Letterman, who felt he was entitled to the Tonight post but was unwilling to fight for it, hired a new agent, Michael Ovitz (Treat Williams), who orchestrated the bidding war that had NBC, at the last minute, desperately trying to win back Letterman with...
...seems ready to burst out of the TV set. He bounds into the audience each night to shake hands with the crowd and cackles enthusiastically through every interview. The program is packed with elaborately produced comedy bits, most of them obvious and witless. It's Lincoln's birthday? Jay is seen as Honest Abe doing a TV commercial for his law practice. Guest Ellen DeGeneres has a touch of the flu? The show hires an ambulance to drive her onto the set. What separates Leno from Letterman (and from Carson before him) is the lack of any ironic distance. Carson...
...tracked a total of 4,753 U.S. companies that went public between 1970 and 1990, comparing the performance of their stock with that of older firms. The new issues produced average annual returns of just 5.1% over five years, while better-established companies showed average gains of 11.5%. Observes Jay Ritter, a finance professor at the University of Illinois at Urbana-Champagne, who co-wrote the study: "The underperformance [of ipos] indicates how investors can become overly optimistic about a hot industry when a lot of companies are going public...