Hollywood talent agent Jeff Berg flew to Shanghai last summer to celebrate one of his biggest deals — a partnership with Chinese investors in Resolution, his new agency in Century City.
Two hundred business executives, government officials, actors and journalists gathered at the swank Hotel Shangri-La to mark the occasion. Celebrities posed for photographs. Guests dined on roast duck, fish and other dishes as a giant digital screen displayed the companies' logos.
Four months later, the deal collapsed. The millions of dollars promised by Bison Capital never materialized, and Berg was forced to shut the agency down.