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...estate was heading toward the red when Priscilla took over. There were the taxes and maintenance on Graceland, salaries for hangers-on and family members, the looming depredations of the IRS. By the early '80s, Priscilla, now both trustee for the Presley estate and president of EPE, had recruited her own money manager, a Kansas City, Mo., businessman named Jack Soden, and the two of them set about figuring out what to do with the estate. The most obvious move, which they explored, would have been to sell off Graceland; one potential buyer, the city of Memphis, did a feasibility...
With money flowing in from Graceland, EPE could afford to turn its attention to a thornier problem: controlling Elvis' name and likeness. Earnest collectors of Elvisabilia remember the late '70s and early '80s as a woeful time when shoddy gewgaws--Elvis toenail clippers, vials of "Elvis Presley's Sweat"--were sold with impunity and by companies that paid no licensing fees to EPE. At issue was what is known as "rights of descendability of publicity"--legalese for the ability of a famous person to control the use of his or her name and likeness. Existing law, while not entirely clear...
Thirty years later, movies are samer than ever--more conservative, more in the thrall of spectacle and sensation. And Godard...is he still around? In fact, he made 15 films in the '80s, nine more in the '90s. A man in Mozart says, "There's no such thing as grownups." Godard, who'll be 67 this year, still has the intellectual energy--the need to know and show everything--of a precocious child...
Gold prices have steadily declined since the '80s because with roaring stock markets and low inflation worldwide, sitting on noninterest-bearing gold makes little sense for governments. "There's no point in holding it," says Dale Henderson, a gold specialist at the Federal Reserve. That's true for individuals too. It doesn't mean you should sell your jewelry at a discount. Inflation could someday return, and besides, T-bills make lousy necklaces...
DIED. SIR JAMES GOLDSMITH, 64, billionaire financier; of a heart attack after a long battle with cancer; at his villa near Malaga, Spain. Goldsmith made his nut with pharmaceuticals and groceries and parlayed it into a fortune as a corporate raider in the '80s, acquiring high-profile targets. A legendary gambler, his business motto was "If you can see a bandwagon, it's too late to get on it." Late in life he started one of his own, founding Britain's Referendum Party, which opposed the European common currency. His warm and very extended family included his third wife...