Word: marvinism
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...prime merger candidate. A host of state and federal investigators are looking into Home State's ties with E.S.M. Government Securities, a Fort Lauderdale dealer in Treasury bills and bonds whose March 4 closing forced Home State out of business. A central figure in these probes is Financier Marvin Warner, the owner of Home State and formerly a heavy investor in E.S.M. Last week a group of Home State depositors filed a $432 million lawsuit claiming that the bank invested in E.S.M. "not because it was prudent or even safe to do so, but rather because of the illicit financial...
Here's the story. A famous Hollywood studio--let's call it 20th Century- Fox --is in trouble. The 300-lb., bear-hugging Denver oilman who bought it in 1981--Marvin Davis might be a good name for him--has presided over a festival of flops with titles like Rhinestone, The Buddy System, A Night in Heaven, Blame It on Rio and Turk 182! Last September he brought in the super-star mogul of Paramount Pictures--let's give him the name Barry Diller--to turn things around. But meanwhile the losses keep on mounting: $85 million in the last...
...itself on a straightforward approach to events. But to Mortimer Zuckerman, the wealthy real estate investor who bought the magazine last June for $182 million, Coffey is "an ace and a treasure-house of ideas." Last week Zuckerman named Coffey, 38, as the new editor of U.S. News, replacing Marvin Stone, 61, who is retiring after 25 years...
Much of Ohio's investigation will focus on Financier Marvin Warner, Home State's owner and until recently a major investor in E.S.M. The probe will put additional heat on Celeste, since Warner was one of his biggest campaign contri butors. Warner, who stayed away from Ohio last week in his Miami apartment, blames Home State's collapse primarily on E.S.M.'s accountant. Says he: "It's not only a matter of terrible personal loss, it's a feeling of humiliation...
Questions were also raised about the involvement in the E.S.M. failure of Marvin Warner, Home State's owner and a U.S. Ambassador to Switzerland during Jimmy Carter's presidency. Warner, a major investor in the Florida firm and an owner of the Birmingham Stallions of the U.S. Football League, liquidated his own holdings in E.S.M. in January. Yet he insists, "I am one of the biggest victims." Last week Warner resigned from his powerful position as chairman of the Ohio Building Authority in the wake of the Home State closing...