Word: ceos
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...have a difficult time finding a room here this week," says Hilton Hotels CEO Stephen Bollenbach, sitting in the company's flagship Waldorf-Astoria in New York City. Of course, he's managed to snag a rather nice...
Last year, as chief financial officer of Walt Disney Co., Bollenbach helped CEO Michael Eisner engineer the Mouse's $19 billion buyout of Capital Cities/ABC. In so doing, he tackled Disney's urgent problem: where to spend Mickey's megamillions. Disney was making movies, expanding its theme parks and adding to its cruise business. But it needed something bigger than boats to make best use of the company's money. Says he: "Honestly, it doesn't make sense to spend $1 billion to build two cruise ships that can be capitalized [paid for] in 120 days." Making shrewd...
After barely six months at Hilton, Bollenbach has added a layer to the empire bequeathed by former CEO Barron Hilton, the son of founder Conrad. Last month the company agreed to buy Bally Entertainment's hotels and casinos, adding 4,826 rooms to Hilton's collection of 99,105 and, more important, giving Hilton two gambling tents in Atlantic City, New Jersey, a place now fairly bursting at the seams with wage burners. "He's brilliant and a terrific guy," says Trump, the once and future king of Atlantic City, whose own company can't build rooms fast enough...
...world full of overpaid CEOs, Bollenbach is demonstrably worth the money. The day that Hilton announced his appointment as CEO, the company's stock shot up 21%, or more than $750 million. For the Bally Entertainment deal, Hilton anted up $2 billion and assumed $1 billion in debt but paid with Hilton stock, then trading at $113.75--or worth about $1.9 billion more under Bollenbach...
...being Marcus Welby via Delhi. Like all great teachers, he was telling Americans something they already knew, in this case about health. At the same time, he was hinting at something they didn't know, a simplified Hinduism that was fascinating to a nation of seekers. Says Richard Perl, CEO of Chopra's new corporation, Infinite Possibilities, somewhat grandly: "The world is using Deepak as a catalyst for a step it's ready to take...