Word: giacchetto
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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 put DiCaprio up in his SoHo loft and vacationed with Courtney Cox's family. He had a knack for wrapping himself in buzz. In a New York Times profile of Ovitz last May, Giacchetto dropped names the way most brokers drop bad stocks. "Get me Michael!" he reportedly shouted...
...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 ugly. In Hollywood, a town built on tales of golden boys brought down, the wags are debating the reasons for his steep descent...