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What's next for Hollywood's hottest leading man? After the Matsushita deal, Ovitz may be in line to succeed Lew Wasserman as head of MCA. Yet such a move could limit his power, which now encompasses the entire movie business. And he is not yet finished changing the face of Hollywood...
...that was missing was a small boy to tug at Lew Wasserman's sleeve and plead, "Say it ain't so, Lew...
...disturbing signs. Meanwhile, managers at NASA who had responsibility for the Hubble project paid little attention to the details of the telescope's construction. "There were at least three cases where there was clear evidence that a problem had developed, and it was missed all three times," said Lew Allen, the director of NASA's Jet Propulsion Laboratory and the head of the six-member investigating committee that wrote the Hubble report...
...upscale venture that charges as much as $7.50 for a ticket, lost $12 million in the first quarter of this year after expanding rapidly. And the $640 million Universal Studios amusement park in Florida, which opened in June, has been plagued by technical failures. But MCA chairman and patriarch Lew Wasserman, 77, apparently believes MCA's biggest strategic shortcoming is its failure to find a merger partner that would enable it to compete with such giants as Fox Inc. and Time Warner...
These days faith is in short supply. So is money. Megadeveloper Lew Rudin, who heads a corporate cheerleading organization, Association for a Better New York, estimates it would take $5 trillion to bring his city back up to par. Although its annual budget is larger than that of all but two states, New York City is in a financial straitjacket, and the nation's economic downturn, more harshly reflected in the Northeast than elsewhere, offers little hope for future relief. Says financier Felix Rohatyn, who devised the plan that saved New York from bankruptcy 15 years ago: "I just...