Word: lyonnaise
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More importantly, Airbus is not unique. Just ask any of the harassed managers at Credit Lyonnais or Air France. Pundits, eager to promote government intervention, would do well to remember that one of the most important economic lessons from the post-War era is that, except in textbooks, government failure...
What's left of McNall's empire is a shambles. According to bankruptcy-court filings, McNall owes Credit Lyonnais $121 million, the Bank of America $40 million and Merrill Lynch $37 million. What remains of his traceable fortune is in hock. Gone are a couple of his houses, gone his...
Hollywood mogul Michael Ovitz is revitalizing beleaguered MGM/UA. He's persuaded Credit Lyonnais to pump $400 million into the studio and a new TV division. Overseeing the new MGM/UA: ex-Paramount chief Frank Mancuso.
The eminent New York investment banker Felix Rohatyn, who is Credit Lyonnais's official banker and represented MCA in the Matsushita deal, thinks his friend Ovitz may be getting perilously close to unavoidable conflicts of interest. "If Michael is involved both in the restructuring of the entertainment companies that Credit...
CAA's rivals, particularly the folks at ICM, are doing their best to stoke these fears. Says Bill Block, a cocksure young agent at ICM: "This deal? It's like the Oliver North thing -- the full implications weren't brought out." Certainly, sour grapes and not simply righteous indignation plays...