Word: zell
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Former Atlanta Mayor Andrew Young wanted to accomplish in Georgia what L. Douglas Wilder had in Virginia last year: become his state's first black Governor. But Young's dream went a-glimmering last week as lieutenant governor Zell Miller drubbed him in a runoff for the Democratic nomination, winning 62% of the vote...
Other investors seek to profit from failing companies by buying them and turning them around. Sam Zell, chairman of Chicago-based Itel Corp. (1989 revenues: $2 billion), is raising up to $1 billion for a fund that would acquire firms at fire-sale prices. Says he: "Anytime you have a period of excess, you're going to have a period of distress that follows. Our sole purpose is to buy good companies with bad balance sheets. Our goal is to restructure their finances and come out the other end with a viable company." Zell is hardly alone in his ambition...
...personal life. The paper reported on a deposition from his former wife, who swore that before their 1982 separation he hurled a television set across a room, bashed through doors and shoved her around. The Herald also said Lehtinen sprained the arm of his girlfriend, former legislative aide Dolores Zell, by pushing her to the floor. Lehtinen denies both stories...
...Miami television station went further, reporting that Zell and Lehtinen owned a house together but kept it in her name to shelter it from the divorce settlement. Zell signed the house over to him after the divorce was final. Lehtinen later married a fellow state legislator (now a Republican Congresswoman), Ileana Ros. However, the Justice Department has declared that there are "no problems" in the way of Lehtinen's confirmation...
...skier will place in the downhill without supernatural intervention, but any one of several Austrians could reverse that team's unaccountable recent blahs and win out of sheer embarrassment. And then, of course, there is Pirmin Zurbriggen, 25, the people's choice from Zurich to Zug, from Zell to Saas-Almagell, his tiny hometown in the Swiss canton of Valais...