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...first to come to grief over his Anglo-Saxon ambitions was Jean-Marie Messier, a Frenchman equally at home in New York as in Paris. Messier was forced out as chief executive of entertainment giant Vivendi Universal last month because he ran up huge debts in a spree of expensive media acquisitions, among other sins...
...Russ was also getting some serious critical attention. Yale University hosted a retrospective of his films. Richard Schickel attended the event and wrote a long Meyer appreciation for Life, then a weekly picture magazine. In France, critic Jean-Pierre Jackson reviewed "Common Law Cabin" and reverently called it "the most implausible film ever made." The Village Voice put its sassiest junior movie critic (me) on the Meyer beat, opening the sluice gate to torrents of mannered enthusiasm. I'd followed Meyer since around 1960, when I saw "Teas" at an "art" theater in Philadelphia, but I didn't strap...
...held in Beijing. The company recently hired ad agency Leo Burnett Beijing and set aside $11 million for marketing this year, one of the biggest corporate-marketing budgets in China. Higher-end product lines, created with the help of top sports-shoe designers Massimiliano Zago of Italy and Paviot Jean-Philippe of France, are being added to counteract the brand's bargain-bin tinge...
...turn out 1 million engines annually. Spanking The Banks U.S. Senate investigators testified that Citicorp, the top U.S. bank, and J.P. Morgan Chase helped Enron hide more than $8.5 billion in debt. Canal Plus (Or Minus) In his first move to reduce Vivendi's ?19 billion debt, new CEO Jean-René Fourtou will separate Canal Plus into a new company and sell the rest of its pay-TV unit. INDICATORS A Family Affair Think your family reunions are stressful? John Rigas, founder of Adelphia Communications, was arrested in New York City with his two sons and two other former...
...remove a company from the influence of the government? "The interference of politics was completely wrong," said Michael Rogowski, president of the Federal Association of German Industry. At least Sommer has the consolation that he is not alone among embattled European CEOs. Only three weeks ago, Jean-Marie Messier was removed as chief executive of French media giant Vivendi, where a string of acquisitions had left the company with a pile of debt and a slumping share price. France Télécom chairman Michel Bon is also under pressure because of high debts. In the past, Europe...