Word: mirrored
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Without him, however, there can be no doubt that his far-flung corporate kingdom will never be the same. Maxwell's properties, which include Macmillan Publishers and the London-based Daily Mirror as well as printing plants, the Israeli newspaper Ma'ariv and several professional soccer teams, are joined by a complex web of interlocking connections, all masterminded by Maxwell and Maxwell alone. "You've lost the force majeure, the single persona that held it all together," says John Reidy, a New York City media analyst at Smith Barney...
...Maxwell's sons, Kevin, 32, and Ian, 35, were quickly named their father's successors. Kevin will take over the American arm of the Maxwell domain, Maxwell Communication Corp., and his brother will run the Mirror Group Newspapers in Britain. The young Maxwells face the same challenge that confronts most media barons these days: massive debt. No one outside the company, and not many inside it, knows precisely what Maxwell's debts are. That is because a number of his interests were privately held. The details of their loan arrangements thus remain safe from the scrutiny of public shareholders...
Moreover, many of the debts of the private firms were assumed by pledging, as collateral, shares in Maxwell's two publicly traded companies, Mirror Group Newspapers and Maxwell Communication. Mirror Group shares had been declining even before Maxwell died, and were off more than 30% between May and the suspension in trading that followed Maxwell's death. But because the Mirror Group remains solidly profitable, they bounced back 45% after trading resumed last week. All told, the Maxwell companies probably carry debts of $3.9 billion, according to London's Financial Times. That figure was about 50% higher than many investors...
...enough to make you miss lines like "Come here often?" The newest cool come-on in the Southland is "I'm gonna treat you so well, I'm gonna wish you were me." Save money: buy a mirror...
Such is the image. The American reality is the mirror image: Our Mao hat is the Gap pocket...