Word: leos
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Divorced. Leo Durocher, 54, loud but expert ex-manager of the Brooklyn Dodgers and New York Giants, who resigned last fall from a high-paying NBC job but has since kept his famed lip from flapping about a rumored return to baseball; by Laraine Day, 39, sweet-smiling film and TV star; after 13 years of marriage, two adopted children; in Juarez, Mexico...
...middle of the city's bustling financial district. Suspense mounted until the noth bid was made. Then, while little groups huddled together to see if they should raise their bids, the gavel banged down decisively. The winners, with a top bid of $2,480,000: two Texas millionaires, Leo Francis Corrigan, a real estate wheeler-dealer, and Toddie Lee Wynne, whose pile comes from oil and real estate. Said Corrigan triumphantly: "The others had to spend so much time in conference that they lost out. We had complete authorization right with...
Complete authorization means that Leo Corrigan, who flew to Hong Kong to oversee the bidding, is his own boss. He has built up a real estate empire worth more than $500 million by buying up choice pieces of real estate and holding on to them. Corrigan still owns all but four of the 180 major real estate purchases he has made. He rarely takes on partners (Wynne is an old friend), will take complete charge of the Hong Kong property, give Wynne half the profits...
...Leo Corrigan has built his fortune by getting back his investments from property, then putting them to work again. The son of an Irish immigrant family of eight, he quit school in St. Louis after the fifth grade to help with the family finances, got into real estate when he was 28 by buying a drug store, soon began building neighborhood stores, paying off his mortgages with the rent. He shocked conservative operators by building apartment houses behind his store buildings; they said that people would not live in "back alleys." But Corrigan found that his tenants liked the shopping...
Some Texans feel that Leo Corrigan moves too fast; a prominent banker confided to him a few years back that every year for 15 years he had been predicting that Corrigan would go broke within the next twelve months. But Corrigan believes: "If you don't have a hell of a lot of nerve, the boys in the know will always scare you to death." He claims that he could stand 60% vacancy in his properties and still survive (the vacancy rate is now a low 2%). He points out that he has so many blue-chip tenants-banks...