Word: silverman
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...double by junior right fielder Tom Stack-Babich. Senior Andrew Casey, sophomore Jeff Stoeckel, and Wilson all singled, but the Harvard offense received a good deal of help from two crucial throwing errors by the Brown defense and a wild pitch from Bears hurler Alex Silverman. The Crimson added two more runs in the fourth, one on a solo home run from junior second baseman Griff Jenkins—filling in for injured captain Brendan Byrne—and a single run in the fifth to complete its scoring for the day.It was an impressive offensive performance in a game...
...About Hair, a salon and antique store near Harvard Square—as he prepares to stand trial for allegations of rape. Purdy’s trial was scheduled to commence yesterday in Middlesex County Superior Court, but was instead delayed until May 17, said his lawyer J. Daniel Silverman. Currently, the Cambridge business owner remains accused of indecent assault and battery of a person over 14 years old, and allegedly raping a female customer, then 19, in 2004. “There is a lot of court congestion,” Silverman said. “Often they schedule...
While private equity plodded along, Silverman built HFS into one of the stars of the 1990s stock-market boom. The company expanded into real estate, then rental cars (Avis). Its share price rose almost 2,000% in four years, and Silverman's net worth rocketed toward $1 billion. He was hailed as a genius. Then, in 1997, he merged HFS with direct-marketer CUC to form Cendant. CUC was an e-commerce pioneer, giving Silverman a tangential link to the Internet bubble. Under CEO Walter Forbes, now awaiting jail, CUC was also a pioneer at fabricating earnings, Silverman later discovered...
...paychecks remained large enough to attract criticism though, and even as Silverman steered Cendant to a profit peak of $2 billion in 2004, investors were unimpressed. So he heeded their grumbling and broke up the company. The hotels became Wyndham Worldwide, rental cars the Avis Budget Group, travel distribution (Orbitz, Galileo) Travelport, and real estate Realogy. Blackstone bought Travelport last year, and now Realogy belongs to Apollo...
...plus a $2.8 billion shareholder lawsuit payout in the wake of the CUC mess--a dollar invested in HFS when it went public in 1992 would be worth more than $14 now--a 22% annual return, or more than double the performance of the S&P 500. Which means Silverman is probably worth listening to on one of the great questions of our day: Is it better for a company to be traded on a stock exchange or privately held? "I was asked by the CEO of one of the private-equity firms what my advice would...