Word: rohatyn
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Dates: during 1990-1999
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...eminent New York investment banker Felix Rohatyn, who is Credit Lyonnais's official banker and represented MCA in the Matsushita deal, thinks his friend Ovitz may be getting perilously close to unavoidable conflicts of interest. "If Michael is involved both in the restructuring of the entertainment companies that Credit Lyonnais has an investment in -- by - bringing in talent, by directing their entertainment strategy, by helping them get television product or motion picture product -- and at the same time provides financial advice as to what to do with these companies, then he's probably going to be walking a very fine...
...conditioned Nevada desert, the opening of two gargantuan amusement centers dedicated to gambling and show business -- the Mirage and Excalibur hotels -- is leading Las Vegas toward its biggest year ever. In Nashville the country-music business is keeping the local economy afloat amid a tide of regional recession. Felix Rohatyn, the fiscal doctor, says the only hope for New York City, laid low by the collapse of the boom-boom Wall Street economy of the '80s, is to turn it into a tourist attraction keyed to entertainment. But the industry is also undergoing profound change in its essential financial...
...city back up to par. Although its annual budget is larger than that of all but two states, New York City is in a financial straitjacket, and the nation's economic downturn, more harshly reflected in the Northeast than elsewhere, offers little hope for future relief. Says financier Felix Rohatyn, who devised the plan that saved New York from bankruptcy 15 years ago: "I just don't see the light at the end of the tunnel. However, we cannot turn our back on the city now." Facing a $1.8 billion shortfall, the Dinkins administration has been forced to raise taxes...
...Government needs a sideshow to shift focus from the cost of dealing with the problem," says Paul Horvitz, a finance professor at the University of Houston. At this point, the biggest new scandal would be to push the increased bailout cost into the future by borrowing more money. Felix Rohatyn, the Manhattan investment banker and fiscal gadfly, proposed last week that the Government pay for the bailout with a 5% surcharge on federal income taxes, which could raise $25 billion to $35 billion a year. Borrowing the money instead, he said, would amount to "leaving it to our children...
...devil should you be quoting Felix Rohatyn, who has an absolutely failed record of doomsday predictions?" asks Milton Friedman, Nobel- prizewinning economist at the Hoover Institution at Stanford. "The U.S. economy is fundamentally very healthy, and there's no reason why the '90s shouldn't be just as good as the '80s, or better. There's no reason why we shouldn't have a decade of rapid growth and relatively low inflation...