MCA Buyout by Japanese

Let’s not go into another round of Japan bashing, regarding Matsushita’s buyout of MCA. It all started with those “What can I do for me” Reagan years. U.S. corporate leadership has sold out Columbia Pictures, Rockefeller Center, Pebble Beach, Steamboat Springs, to mention a few, to the Japanese, and why? Lew Wasserman, chairman of the board at MCA, stands to earn about $330 million on the deal, while David Geffen has nearly doubled his MCA stock holdings to $710 million.

W.D. ARMSTRONG, Torrance