Word: upped
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Dates: during 1990-1999
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When Dana Giacchetto was flying high, they called him the rock-'n'-roll broker. His client list was more Melrose Avenue than Wall Street: Leonardo DiCaprio, Cameron Diaz, Matt Damon, Michael Ovitz. For the club-hopping Giacchetto, the line between client and buddy was as thin as a supermodel. He...
But the high-flying Giacchetto has crash-landed. His glitziest investors--Matt, Cameron, Leo--have abandoned him. A high-profile venture-capital investment fund he helped set up with a subsidiary of the Chase Manhattan Bank to attract celebrity dollars has disintegrated. And the once worshipful buzz has suddenly turned...
Giacchetto wasn't born in the fast lane. He grew up middle-class outside Boston, the son of a novelist-radio writer and a nurse. As a young money manager in New York City, he befriended Jay Moloney, a fast-rising Hollywood agent and Ovitz protege. (Moloney committed suicide last...
But Giacchetto's real undoing may have been the ill-fated alliance he made last fall with Jeffrey Sachs, a principal of the Chase Capital Entertainment Partners investment fund. Cassandra-Chase looked perfect on paper: Chase brought the structure to do private equity investment, and Giacchetto brought his high-wattage...
Digital-video (DV) camera prices are plummeting south toward the $1,000 border. Cheap DV-ready PCs, bundled with professional-editing software, are zooming off store shelves. And a host of popular production websites have sprung up to showcase amateur movie shorts. All of which has led experts to believe...