Word: robin
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...Alam, Robert B. Stevens (Assistant Editors) Bureaus: Martha Bardach, Sahm Doherty, Leny Heinen, Stanley Kayne, Barbara Nagelsmith, Anni Rubinger, Melanie Stephens, Simonetta Toraldo Photographers: Terry Ashe, P.F. Bentley, William Campbell, Greg Davis, Rudi Frey, Dirck Halstead, Kenneth Jarecke, Cynthia Johnson, Shelly Katz, David Hume Kennerly, Steve Liss, Christopher Morris, Robin Moyer, Carl Mydans, James Nachtwey, Matthew Naythons, Robert Nickelsberg, Chris Niedenthal, David Rubinger, Ted Thai, Diana Walker
...Since Robin Hood will start to break even when its booty reaches $80 million, the movie is likely to provide ample profits to finance Morgan Creek's eight other movies in various stages of production. Robinson, 56, attributes his success to swift decision making and the fact that his own money is on the line. He has invested about $80 million in Morgan Creek and has attracted $200 million from outside investors. "If studio executives lost 25% of their own money on a film," he says, "they'd make better movies." Robinson spent only 20 hours considering whether...
...years his independent film company, Morgan Creek Productions, has produced a sizzling track record of 10 profitable films out of 11 releases. That is a notable feat at a time when several independent filmmakers and two major studios, Orion and MGM, are verging on bankruptcy. Despite mostly negative reviews, Robin Hood took in nearly $26 million during its first weekend, the eighth best film opening of all time. Industry experts predict that Robin Hood, which is distributed and partly financed by Warner Bros., could approach $150 million in box-office revenues...
Morgan Creek has its lenses focused on more than just movies. The company has already produced MTV videos, toys, Nintendo games and hard- and soft-cover books. A Robin Hood sound-track album is the first offering from Morgan Creek Records, and a planned animated series will initiate a TV division...
...levy has been labeled the Robin Hood tax by one economist because it helps transfer money from the rich to the poor. Not everyone sees it that way, however. A rare chorus of blue-chip retailers and blue-collar workers denounces it as a disaster tax. At issue is the six-month-old "luxury tax" that Congress adopted last year as part of a comprehensive deficit-reduction plan. The new 10% excise tax was tacked onto such goods as pleasure boats, private airplanes, jewelry and fur. While the tax bite is not particularly severe -- a minuscule $25 million is expected...