The Predators’ Ball (62 page)

control as obsession of,
55

political contributions of,
259

Milken, Michael:

anti-Semitism and,
29

appearance of,
11
,
23
,
24
,
329
,
355

arrogance of,
25

auto accident of,
313

autonomy of,
32
–33,
50
–53,
69
,
297
–98,
304
–5

background of,
23
,
24
,
354
–55

Boesky Day and,
317
–30

bonuses of,
247

client relationships of,
287
–92

collectivism and antihierarchical form as preoccupations of,
84
–86,
297
,
356

college-years portfolio management of,
24
,
27
–28

commitment to helping people of,
57
,
358
–59

competition as viewed by,
249
,
358
–59

compulsion of,
314

connection's importance to,
68

as contra-thinker,
70

conversational style of,
315

corporate establishment as viewed by,
12

corporate finance's merger with,
66
–68,
299

critics of,
266
–68,
270
,
301
–3,
344
–46

disciples of,
52
,
83
–84,
94
,
262

diverse functions of,
307

dominant position of,
94
–95

at Drexel Burnham,
31
–40,
42
–48

at Drexel Firestone,
23
–24,
27
–31,
271

at Drexel Harriman Ripley,
24
–27

education of,
24

ego and appetite of,
14
,
18
,
245
,
252
,
301
–2

familiarity sought by,
26

on financing as art form,
249

as fortune-maker,
12
,
51
–52,
57
–58,
68
–69,
88
–93

franchise arrangement of,
10
–11

Gobhai meetings and,
62
–66,
100
–101

as great equalizer,
203

greed of,
250
,
252
,
255
,
312
–13,
314
,
357

hearing of,
87

honor of,
79

hubris of,
315
–16

as inspired salesman,
55
–57,
95
,
358

investment partnerships of,
80
–83,
279
,
282
,
299
–300,
308
,
310
,
357

in Japan,
243
–44,
315

kinetic quality of,
12
,
24
,
255
,
301
,
314

as the King,
10
,
16
,
80
,
84
,
319
,
359

legacy of,
347

lifestyle of,
313
–14,
357

limited-partner status of,
279
,
310

loyalty concerns of,
52
,
68
,
86
,
88
,
277
,
286

as magician,
14
,
109
,
141
,
192
,
193

memory of,
95
,
309

meritocracy of,
301

messianic qualities of,
11
,
25
,
29
,
56
,
68
,
84
,
233
,
243
–44,
262
,
271
,
334
,
357

money machine of,
275
–84,
290
,
302
,
312

“monsters” created by,
142
,
185
,
295
–96

motivations of,
312
–14

as “national treasure,”
353

new paper invented by,
71
–72

“perception vs. reality” theme of,
271
–72,
297
,
355

personality of,
12
,
16
,
18
,
25
,
55

philanthropy of,
313
–14

placement service of,
277
–78

political role and contributions of,
259
,
264

power of,
55
,
66
,
73
,
285
–87,
297
,
302
,
327
,
347
,
356
,
359

Predators' Ball (1985) and,
10
–17,
294

Predators' Ball (1987) and,
329

press debut of,
353
–54

principal mentality of,
28
,
64
,
289
–90

pros and cons of work of,
19
–20,
347

refusal to cut back deals of,
79
–80,
166

reinvestment policy of,
33
,
58
,
357

reverse snobbism of,
84
–85

SEC depositions of,
35
,
79
,
81
,
83
,
85
–88,
279
,
308
–12,
315
,
326

secrecy and control desired by,
32
,
53
,
55
,
68
,
69
,
86
,
87
,
112
,
149
,
279
,
285
–89,
324
,
326
,
327
,
352
,
354
,
356
,
357
,
359

self-image of,
88

showmanship of,
95

social discomfort of,
23
–24

speeches of,
271
–74,
297
,
347
,
359

summary of process used by,
244

time off of,
88
,
106

in time warp,
347
–48

toughness of,
79

trading profits of,
32
,
51
,
64
,
69
,
311

trusts for children of,
81
,
93

tyrannical behavior of,
301
–2

Underwriting Assistance Committee vs.,
304
–8,
351

as upside player,
33
–34,
58

wealth dilemma of,
356
–57

work habits of,
10
,
16
,
50
,
51
,
53
,
56
,
63
,
86
–87,
106
,
298
,
315
,
357

see also
Drexel Burnham Lambert

Milken, Sandra,
55
,
81

Milken family, assets of,
54

Milken Family Foundation,
314

Milow Corporation,
82

Milton Bradley,
198

mini-Predators' Ball (1986),
243
–44,
316
,
340

Mitchell, Michael,
211

Mizel, Larry,
259

money managers,
11
,
14
,
277

Milken's speeches to,
271
–74,
297
,
359

money-market mutual funds,
91

Montagu, Samuel,
191

Germaine Monteil,
234

Moody's,
27

Moredon Partners Ltd.,
81

Morgan, J. P.
26
,
66
,
270

J. P. Morgan and Company,
26

Morgan Guaranty Trust Company,
26
,
227
,
254
,
255

Morgan Stanley and Company,
30
,
65
,
95
,
248
–49,
250
,
287

political contributions of,
260

Revlon battle and,
209
–10,
217
,
220
,
231

mortgages,
91
,
281
,
298

leveraged buyouts compared with,
99

Mount Vemon Associates, Inc.,
146

Movie Labs,
198

movies,
73
–74

as tax shelters,
54

Mulheren, John,
35

Multimedia,
17

municipal finance,
251
,
281

Murdoch, Rupert,
245
,
267

mutual funds,
91

closed-end,
154

discount-bond,
33

high-yield,
73
,
79
–80,
94

REITs compared with,
34

National Association of Securities Dealers (NASD),
81

National Bond Fund,
33

National Can, National Can deal,
13
–14,
17
–18,
105
–9,
119
,
122
–142,
144
,
146
–48,
170
,
203
,
273
,
323
–24

American Can acquired by,
141
,
142

bonds trading hands and,
131
–35

bonus pool and,
136

business improved at,
137
–38

commitments raised for,
129
–32,
136
,
137
,
168

first vs. second tier and,
134
–35

as hard sell,
126

as hostile takeover,
130
–31

management of,
122
–26,
136
,
147
–48,
261

stock of,
122
,
123
,
125
,
126
,
137
,
148

National Health Laboratories,
225
,
234

National Westminster Bank USA,
161

Neto, Delfin,
197

Newberg, Bruce,
328

New Jersey Bureau of Securities,
160

New
York
,
257

New York Air,
173

New York Central Railroad,
155

New York State Insurance Commissioner,
280

New York Stock Exchange,
72
,
108
,
151
,
160

New York Times
,
177
,
217
,
228
,
342
,
351

Norcliff Thayer health products,
232

Nortek,
213
–14

Northview Corporation,
319

Northwest Airlines,
184

Northwest Industries,
17
,
135
,
143
,
163

Nortman, Stanley,
190

NPM (consulting company),
112
,
118
,
145

NVF Company,
120
,
122
–23

Oakley-Sutton Management Corporation,
81
,
328

O'Brien, Jack,
47

Occidental Petroleum Corporation,
243

Ocean, Billy,
348

oil companies, disastrous investments of,
272

Onassis, Jacqueline,
236

One First National Plaza,
312

O'Neill, Jennifer,
189

“One-Man Revolution, A” (Sloan and Rudnitsky),
270

Oppenheim, Appel, Dixon and Company,
320

Oppenheimer,
65
,
287

options,
151
,
152
,
162
–63

Orens, Morris,
155

Otter Creek (Milken investment partnership),
81
,
279

overfunding,
68
,
290
,
302

Owens Illinois,
161

owner-managers,
67
,
69
,
88

Considine's views on,
263

return of,
19
,
186
,
273
,
332

Weinroth's views on,
332
–33

Oxoco,
209
,
249

Ozark Airlines,
184

Pacific Asset Holdings,
278
–79

Pacific Lumber,
143

Paine Webber,
178
–80,
335

Pan American World Airways,
44
,
258

Pangia, Robert,
253

Panner, Owen,
284

Pantry Pride,
18
,
193
,
197
,
198
,
201
–240,
272
–73,
352

disclosure violations allegations and,
212
–14,
226

Drapkin's purchase of convertible debentures of,
208

net operating loss (NOL) of,
201

Revlon battle team of,
208
–9,
211

Revlon lawsuit against,
211
–13,
215

Revlon's merger with,
234

stock of,
202
,
213
,
231

Papitto, Ralph,
213
,
215

PARS (TWA's computerized reservation system),
179
–80,
181
,
184