Word: morgado
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...southern Portugal, close to the Spanish border, no irrigation system yet exists to get water to their own parched fields and livestock. "They are going to give the Spaniards water to irrigate their crops and then the Spaniards will sell their crops back to us," says Diogo Morgado, president of an agricultural association on the south bank of the river. In the long term, consumption will have to be scaled back if water is not to become a flashpoint in Europe, where governments "still try to manage the supply rather than solving the demand problem," says Michael Scoullos, chairman...
There's one other thing to keep in mind as record-company suits moan about the rising costs of keeping talent happy--those groaning record-industry executives are pulling in huge salaries too. Robert Morgado, former chairman of Warner Music Group, made $7 million to $8 million annually, and when he was fired last May he was given a platinum parachute that by some estimates was worth $60 million. A fair number of other record executives--who still have their jobs--are earning $10 million a year and more. Says music-industry analyst Robert Broadwater: "This is the entertainment business...
...presidential candidate Bob Dole and others againstthe firm's distribution of rap and alternative music with violent lyrics. Michael Fuchs, recently named as chairman of Warner's worldwide music division, dismissed Morris and took over the domestic role himself. Morris' departure follows that of Fuchs' predecessor, Robert Morgado. The U.S. music division includes the Warner Bros. Records, Atlantic and Elektra labels...
...staying put. No, of course not. Money has mainly a symbolic value in the entertainment business. It tells the top players how much they are wanted or not wanted. You want Sylvester Stallone for a picture, so you pay him $20 million. You want to get rid of Robert Morgado, the recently deposed head of Warner Music, so you contemplate a buyout package that's been estimated at upwards of $30 million...
...position of Time Warner president last October. Parsons, an African-American and a Republican, is reportedly trying to persuade Levin to make some accommodation that would defuse the issue. But company insiders say a more important move may have been the replacement in May of Warner Music chief Robert Morgado with Michael Fuchs, Levin's longtime colleague at HBO. Company sources say Fuchs' appointment was at least partly motivated by Levin's perception that Warner's fiercely independent music labels needed a stronger boss who could lead the way to developing tougher standards. The speculation from one well-informed source...