Air Schwarzenegger
Almost as elaborate as the special effects in Arnold Schwarzenegger’s hit film “Terminator 2: Judgment Day” is the deal involving the star’s recently acquired 1982 Gulfstream III jet.
Recent press reports are creating confusion over whether Arnold got the $12.75-million plane in lieu of payments from film producer Carolco Pictures, or whether he simply bought it himself.
The star’s lawyer, as well as Carolco, didn’t want to discuss it.
Arnold’s spokeswoman said Arnold indeed owns the plane but reports that he received it in lieu of payments from Carolco are untrue.
Public records, and interviews with people with knowledge of the deal, shed some light. The owner of record turns out to be an obscure Reno, Nev.-based company called G-3 Charter Corp. The plane, when not in use, is kept by Avjet, a Burbank aviation firm.
Federal Aviation Administration records show that last year Arnold bought Carolco’s stock in G-3 Charter. How much cash changed hands isn’t listed in the documents. But records show that part of the price is a promissory note from Arnold for $1.06 million.
The plane is described in non-FAA records as having blue and gray upholstery, gray carpet, a videocassette recorder, stereo and some sort of video screen system that shows on a map the plane’s location.
Everyone’s Not on Board
Sometime next month, a $17.2-million settlement could well be agreed upon between convicted Wall Street trader Ivan F. Boesky’s former investors and Boesky’s legal and accounting experts, whom the investors sued.
But there’s one big if.
A letter received by investors last week says 80% of those who invested the money with Boesky have approved the settlement--short of the 90% needed.
Turns out the hang-up is the federal Resolution Trust Corp., the government’s thrift mop-up agency. It has a stake in the matter through $17.5 million in investments made by two failed thrifts it controls, one of which is Columbia Savings & Loan in Beverly Hills.
One lawyer familiar with the negotiations said the hang-up probably isn’t serious, adding that the problem has been finding the people at the RTC with the proper authority to approve the deal.
Latest in Eco-Fun
In time for the holiday season comes an earth-saving board game called Earth Alert. The goal: make it to a recycling center before running out off oxygen.
One task includes role playing. Players act out what a polar bear would say to the Titanic about an iceberg. Another is writing a letter to President Bush (presumably on recycled paper).
Briefly . . .
America West Chairman Edward Beauvais, whose airline just filed for Chapter 11 protection, is described in the latest USC Business School alumni magazine as being “optimistic about the prospects facing the Phoenix-based carrier”. . . Clients of the Wall Street firm Donaldson, Lufkin & Jenrette, in a survey asking what they think will be the summer’s top movies, picked runaway bomb “Hudson Hawk” fourth and runaway hit “Terminator 2” as a mere second to “Robin Hood: Prince of Thieves.”
