Word: redmont
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Dates: during 2000-2009
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...Dennis Redmont, professor of international communication at the University of Perugia, says both moguls may be realizing they have misjudged the situation. "They underestimated each other," says Redmont, a former Associated Press bureau chief in Italy. "Murdoch thought he was getting a monopoly on [pay TV], and Berlusconi didn't expect that Sky would grow so quickly." Given that both men are known for their business pragmatism, perhaps it's time for another lunch...
...hopes to become a savvy financier. He is now a member of a partnership that includes eight current and former basketball players. Among Abdul-Jabbar's investor mates are Ralph Sampson of the Houston Rockets and Terry Cummings of the Milwaukee Bucks. Their first investment was the $1 million Redmont Hotel in Birmingham, which they are spending nearly $5 million to remodel. A $22 million Los Angeles health club is under construction. The group is also negotiating to buy the Inn of Laguna in Laguna Beach, Calif. Asking price: $4 million...