Word: paid
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Dates: during 1980-1989
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...Democrats were the first politicians to realize that local broadcast and cable stations have enormous appetites for fresh video programming, for both paid political broadcasts and free footage the stations can use to beef up their news reports. Several Democrats, by beaming political messages to the satellites and telling the stations when the programming will be available, have been able to dramatically expand their coverage in key primary states. Now candidates from both parties regularly arrange for speeches, interviews, press conferences and debates to be beamed to the birds. The strategic importance of these satellite feeds will increase sharply after...
...average rating in prime time and commercial time is virtually sold out (up to $300,000 for a 30-second spot), network executives admit that advertising income will not cover the costs. They are spending a reported $100 million on the production, in addition to the whopping $309 million paid for the broadcast rights, more than three times the cost in 1984. The problem developed because the rights were auctioned off before the '84 Winter Games had taken place and before the network business soured. "With our original projections, we were bidding with the expectation of making a profit," says...
...example to fight growing commercialism in skiing. It didn't work. Skiers today are the most heavily sponsored of all Winter Olympians. Zurbriggen, a sporting-goods store on skis, wears seven of his products in action, from goggles to boots. His estimated 1987 take, approaching $1 million, was paid through a perfectly legal Swiss team trust fund. If Brundage weren't dead, this would kill...
Like baseball teams and ballet troupes, Wall Street investment firms are built around stars. Well known and well paid, cosseted and coddled, the stars eventually become almost synonymous with the institutions that employ them. Nowhere was this more true than at the elite investment firm of First Boston, where the duo of Bruce Wasserstein and Joseph Perella created a mecca for merger-and-acquisit ion advice. Owing largely to their prestige, First Boston was the busiest takeover player on Wall Street last year, handling an estimated 174 deals. Serving as masterminds in some of the biggest corporate struggles...
...firm, Wachtell, Lipton, Rosen & Katz, where attorneys helped them draft a charter for their new company. The next morning the two went to First Boston and wrote their resignations. "This is a decision not reached easily," read Perella's handwritten note. Says Wasserstein: "I was flattered to be well paid, but I disagreed with the firm's management on fundamentals." The departing stars made an 11 a.m. appointment with Buchanan in his 43rd-floor Manhattan office, where they cordially delivered their bombshell. Afterward, they scurried across the street to their lawyers' office to begin working the telephone to recruit...