Billionaire Bernardo Caprotti, the octogenarian founder of Milan-based Esselunga SpA, Italy’s fourth-largest food retailer, held his first press conference in September 2007. A few days earlier, he had told a local newspaper that, more than 50 years after starting the operation with Nelson A. Rockefeller, he was selling out.
Many people assume there is something sleazy about the business of finance, or the people who practice it. This impression is probably behind the commonly voiced opinion that it is a shame so many young people today are going into finance-related occupations, when they could be doing something more high- minded in other fields.
J. Christopher Flowers, founder of private-equity firm JC Flowers & Co., on Dec. 27 bought a $20 million co-op apartment in New York in a cash deal. The same day, Dwayne Andreas, former head of Archer-Daniels-Midland Co., sold his Manhattan home for $23.9 million, also in cash.
When Nelson Rockefeller dropped out of the Republican presidential race in June 1964, Barry Goldwater was left with an apparently insurmountable delegate lead and, almost certainly, the task of defeating incumbent President Lyndon Johnson.
When New York Democrat Charles Rangel first ran for U.S. Congress in 1970, he was so friendly with Nelson Rockefeller that the Republican governor wished him happy birthday, handed him a map and a pencil, and told him to draw his own district.
Former Citigroup Inc. Chairman Richard Parsons, whose career in banking and media saw him at the helm of the industries’ biggest companies, is betting he can make money in retirement in the wine-rich Tuscan hills.
Charles Rangel, who has represented New York City’s Harlem neighborhood in Congress for more than 41 years and once served as chairman of the tax-writing House Ways and Means Committee, survived a Democratic primary challenge in his redrawn district.