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...annually on the $5 million he borrowed from five banks to finance his many operations. In addition, Lance must meet payments on his real estate mortgage, which he listed in January at $340,000. Lance has vastly enjoyed a lavish lifestyle; he has three Georgia homes: a 40-room mansion in Atlanta, a $100,000 house in Calhoun and a $200,000 retreat at Sea Island...

Author: /time Magazine | Title: The Nation: Lance's Sagging Finances | 10/3/1977 | See Source »

...Lance's income this year will not cover his expenses, he will have to scrape up more money. In January he said he had $325,000 in cash, but presumably he has had to dip into that. The Lances have already put up for sale their Atlanta mansion, named Butterfly Manna, at an unrealistic price of $2 million (purchase price...

Author: /time Magazine | Title: The Nation: Lance's Sagging Finances | 10/3/1977 | See Source »

...Hefner's lavish living costs as promotional expenses. The Internal Revenue Service has filed a claim against the company for $7.7 million in additional taxes for the years 1970 through 1972; Hefner's expenses, among many other things, are involved. He has put the 54-room Playboy mansion in Chicago up for sale (asking price: $2.5 million) and moved to a 29-room Xanadu in Beverly Hills; Daniels flies out every other week to brief him, but otherwise they rarely confer on day-to-day operations. There is talk of an eventual successor to Hef as chief...

Author: /time Magazine | Title: Business: Another Playboy Hutch Cleaning | 9/26/1977 | See Source »

While Elvis Presley lived, there was not a single store hawking Presleyana in Memphis. But since his death last month, the reclusive rock pioneer has been merchandised in a manner that would arouse the envy of the smoothest huckster. Outside his Graceland mansion, peddlers vend memorabilia, including dollar bills with Presley's portrait in place of George Washington's (price: $8). A package of 19 original Presley records is being offered for $9,500. A Columbus, Ga., used-car dealer is restoring the singer's first Cadiliac to take on a national tour. A Delaware outfit called...

Author: /time Magazine | Title: Americana: Ripping Off Elvis | 9/19/1977 | See Source »

...Elvis and his mother, who died in 1958. One night police arrested three men for trespassing on cemetery grounds. Alarmed, Presley's lawyers and his father Vernon are seeking city permission to move the remains of Elvis and his mother for reburial behind the secure walls of the mansion in which Presley secluded himself-and finally died alone...

Author: /time Magazine | Title: Americana: Ripping Off Elvis | 9/19/1977 | See Source »

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