Word: puff
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...could always select a new candidate at the eleventh hour, and General Wiranto remarked cryptically on Monday that he would be prepared to enter politics if "the people" wanted him. For those outside the chamber, Wednesday may seem a little like waiting in St. Peter?s Square for that puff of smoke. Except that unlike the Catholic faithful, those outside Indonesia?s assembly may well reject the outcome...
Davis didn't invent the JV, but he was one of the first to show how lucrative it can be. Arista's 1989 investment in hip-hop-heavy Bad Boy Records, run by Puff Daddy, and its 1994 investment in R.-and-B. powerhouse LaFace Records, run by L.A. Reid and the producer Babyface, were mere chicken feed: about $3 million apiece. Last year LaFace chalked up sales of more than $75 million and Bad Boy of about $35 million. "Rather than buy companies and pay multiples," says Davis, "we started from scratch and made a relatively modest investment...
...Davis made a huge gamble: he invested millions in hip-hop, a genre many viewed as too troubled to be worth the risk. But the grunge bubble went bust, of course, as did a few of the labels betting on it. Today, hip-hop rolls along as comfortably as Puff Daddy does in his Bentley...
Music is a game of averages, and Davis certainly doesn't bat .1000; Puff Daddy's solo album Forever is off to a slow start. But Arista has created enough hits to help lift the market share of its corporate parent BMG from 14% to 18%, second only to the Universal Music Group...
...style that is distinctly Old World. He prefers handwritten notes to e-mail. And he usually dresses in the pin-striped, cuff-linked style of a diplomat. That can make him easy to spot at nightclubs checking out new acts or perhaps talking shop with his protege, Puff Daddy. "When I go to see Clive, I'm going to school," says Puffy...