Keep Those Scandals Away
Is it possible to stain the reputation of the National Enquirer?
Apparently so.
Recent documents filed with the Securities and Exchange Commission by parent company Enquirer/Star Group show that Ian Calder, editor in chief of the supermarket tabloid that regularly skewers celebrities ranging from Roseanne Arnold to Michael Jackson, has entered into an employment agreement with a $600,000 base annual salary.
According to the documents, Calder’s employment agreement says he can be terminated with “cause” that includes such things as doing something company directors find is “injurious to the business or reputation” of National Enquirer Inc.
Case of the Missing Coins II
It was mentioned here last week that Merrill Lynch has an embarrassing problem: 399 coins bought for $3.3 million are mysteriously missing from a rare coin partnership it formed in 1990 with Los Angeles sports mogul Bruce McNall.
Now the company has a new problem.
A class action lawsuit was filed Friday in San Diego Superior Court, accusing Merrill Lynch and some McNall companies of “rampant fraud.” (McNall, who recently sold a majority share of the Los Angeles Kings hockey team, isn’t named because he filed for protection from creditors under U.S. bankruptcy laws).
The lawsuit, filed by the firm Aguirre & Meyer in San Diego, says investors have been told that the coins were stolen. But a Merrill Lynch spokeswoman points out that the firm has never used that term, only disappeared and missing. The firm has, however, confirmed that it reported the incident to Los Angeles police.
The lawsuit, which seeks unspecified damages, also alleges that the fund has been a bum investment from the start, losing $2.5 million from 1990 through last year while paying out $2.4 million to McNall-related companies in fees and commissions over that period.
Merrill Lynch said it has not seen the lawsuit and declined comment. So did a McNall lawyer.
Operators Are at Hand
Is Henry the K headed for QVC next?
As part of a rare Henry Kissinger book signing and fund-raiser Wednesday at the Richard Nixon Library and Birthplace in Yorba Linda, people who call in ((714) 993-5075) can order a personalized, signed copy of the former secretary of state’s new book, “Diplomacy.”
Briefly. . .
The Santa Monica-based Future News Network astrological forecasting newsletter says that in the days after the collision of the comet Shoemaker-Levy with Jupiter “the financial press and the markets are likely to be searching for Jupiter-related astronomic interpretations for current business, financial and political events.” . . . Canada’s favorite pastime: Team Marketing Report newsletter reports that Kraft is selling in Canada marshmallows shaped like baseballs and “Blue Jays Jell-O mold.” . . . Where is he now? A Newport Beach company is issuing sports cards featuring stunt driver Evel Knievel.
