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...very act of operating simultaneously as a bank and as a broker gives B.C.C.I. an enormous advantage: it is instantly able to fund virtually any deal it wants and empower any middleman it chooses to pull such a deal off. The B.C.C.I.-brokered sale of F-4 Phantom jet parts to Iran from the U.S. offers a good illustration of the process. The deal starts when B.C.C.I. learns from its sources in Iran that it wants to buy spare parts. B.C.C.I. and its agents then research the supplier market to obtain the price of the materiel. Because U.S. restrictions...

Author: /time Magazine | Title: Scandals: Not Just a Bank | 9/2/1991 | See Source »

...Empire State Building. For them, as for more than a third of the tourists who visit the city, the lure was the Broadway stage. They had already seen Cats twice and Les Miserables three times, mostly in London and San Francisco, so they headed straight for The Phantom of the Opera and Miss Saigon. They emerged elated -- and ready, despite the $60 ticket prices, to go back and see the shows again...

Author: /time Magazine | Title: They Just Keep Rolling Along | 9/2/1991 | See Source »

...fellow out-of-towners, from Omaha or Oslo or Osaka, account for nearly half of Broadway's ticket sales. They go in search of brand names. Although the season that ended June 2 offered 28 new shows and 21 holdovers (some admittedly short-lived), the perennial Big Three -- Cats, Phantom and Les Miz -- accounted for a quarter of the audience and almost a third of the revenues. On the road, where commercial theater reaps much more income than on Broadway, the Big Three were even more dominant: of $449 million in ticket sales, they commanded about 54%. (For investors, these...

Author: /time Magazine | Title: They Just Keep Rolling Along | 9/2/1991 | See Source »

...feature anyone with a significant recognition factor. Yet Cats, which advertises itself as "now and forever," will celebrate its ninth anniversary on Broadway in October, having run longer than Oklahoma! and The Sound of Music put together. Les Miz, at 4 1/2 years, will soon pass South Pacific, while Phantom, at 3 1/2 years, is way ahead of Guys and Dolls and Annie Get Your...

Author: /time Magazine | Title: They Just Keep Rolling Along | 9/2/1991 | See Source »

This popularity seems unwavering. Cameron Mackintosh, who produced all three and also Miss Saigon, projects that Cats "will run another two years or so in New York." He predicts "four to five years" of additional life for Les Miserables and "certainly at least five years" more for Phantom. About Saigon, he says it is too soon to tell, especially because the show is so elaborate. "With weekly operating costs close to $500,000," says Mackintosh, "Miss Saigon only breaks even when it makes what Les Miz does selling every seat...

Author: /time Magazine | Title: They Just Keep Rolling Along | 9/2/1991 | See Source »

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