Word: motown
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...been much hype about entertainers eager to cash in their estate before it actually exists, but few deals have been cut. That's about to change. David Pullman, the banker behind the Bowie deal, closed three more celebrity-bond deals in July. Altogether he raised $30 million for the Motown writing trio of Edward and Brian Holland and Lamont Dozier, whose hits include Stop! in the Name of Love and Baby I Need Your Loving. To date, Pullman's deals are the only ones of their kind, though Nomura Capital Entertainment recently arranged a $15 million loan for Rod Stewart...
...Berry, Little Richard and Jerry Lee Lewis were all otherwise sidelined, there was no gaping lack of good music around. In 1963--the year before the Beatles broke Stateside--the charts were filled with great records by the Drifters, the Beach Boys, Roy Orbison, Sam Cooke, Motown's Miracles and Martha and the Vandellas, and celebrated Phil Spector girl groups such as the Crystals and the Ronettes...
...Memphis, Tenn., she started recording when she was just 14. Since then, she has had 20 No. 1 R. and B. hits and won 17 Grammys. Her breakthrough album, I Never Loved a Man the Way I Love You (1967), was a Top 40 smash. Three decades later, after Motown, after disco, after the Macarena, after innumerable musical trendlets and one-hit wonders, Franklin's newest album, her critically acclaimed A Rose Is Still a Rose (1998), is another Top 40 smash. Although her output has sometimes been tagged (unfairly, for the most part) as erratic...
...time when banks liked to present themselves as staid old conservative places. Not anymore. First, Citibank sponsored an Elton John tour. (So it's not the Foo Fighters--it's a start.) Now three show-biz types have bought a bank. MAGIC JOHNSON, JANET JACKSON and former head of Motown Records Jheryl Busby have spent about $3 million on a controlling share in the California-based Founders National Bank. They hope to use their contacts and drawing power to get the African-American elite to plunk their savings there. They also hope to be able to attract more African-American...
...derided for his interest in the once-struggling Michigan firm's stock. Now, if shareholders and governments on both sides of the Atlantic agree to the merger, he will reap a satisfying $5 billion payoff -- more than triple his original investment. Who says you shouldn't throw money at Motown...