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The article focuses on foolish or fraudulent investment schemes in the United States. The U.S. is in the grip of the most devastating epidemic of investment swindles and near-swindles in its history. In 1929 only a small part of the population was worth fleecing. Today the country harbors a million millionaires. There are millions more who have substantial net worth and large liquid assets. Consider the case of Carl Mostrom, a semi-retired hotelier from Minnesota who lost more than $100,000 in the J. David gold and silver swindle and then turned around and lost $44,000 more in another commodities scam.

Discusses various issues related to the tax shelter operator First Winthrop Corp.'s decision to sell a $200 million limited partnership that gives investors a 35% stake in future profits. Profits earn by First Winthrop in 1984 when it completed one of the biggest tax shelter syndications ever; Reasons behind First Winthrop's decision to give up a piece of its business; Need for a bigger equity base in order to syndicate larger real estate deals; Implications of the decision for First Winthrop.

This article presents information on the foreign investors who invested in Hollywood, Los Angeles in California and lost their money. During the eighties the movie game was one of the worst investment plays around. Wall Street raised hundreds of millions of dollars in limited partnerships and initial public offerings, only to see outfits like De Laurentiis Entertainment Group and the Weintraub Entertainment Group collapse. Over the last few years eager foreign investors have pumped some $17 billion into the U.S. movie business-and have probably lost a good $3 billion of their investment.

The article discusses the investments in film company Cannon Group by Italian financiers Giancarlo Parretti and Florio Fiorini, noting that their purchase of Cannon stock helped the firm recover from Chapter 11 bankruptcy as of July 1988. It is mentioned that Cannon was sued by the U.S. Securities & Exchange Commission (SEC) for overstating earnings in 1987 and has experienced operating losses and share price declines. Other topics include the investors' tax obligations and real estate holdings.

The article focuses on the efforts made by Richard Rainwater, an investor, in searching for companies to acquire in Hollywood, Los Angeles, California. He aims to put up investments with David Geffen, owner of the recording company Geffen Co. However, his proposal was denied by Geffen because the recording company has generated more than $300 million with a cash flow. Also, Geffen insists that whatever outside money that his company needs comes from Warner Communications Inc.

The article profiles Sumiko Ito, vice president of the Nomura Securities Co. Ltd. in New York. Ito wants to build a career on the stage. Her current script, "West brings seed money to East," has been produced but encountered several performance problems. Ito, now 34, set up 36.2 million-dollar Japan/America Venture Partners which aimed at American institutions with investment in Japanese startups.

The article focuses on the financial performance of Keystone Medical Corp. (Keystone). The stock price of Keystone has increased since January 1985, putting the market value of the company at 55 million dollars. That comes to 111 times Keystone's tangible net worth at the end of 1984. Earnings for the fiscal year that ended in June 1984 were minus 453,000 dollars. Investors have been excited by reports that Keystone is nearly ready to launch what is supposed to be a new product: specially treated paper for on-site urinalysis to test for amphetamine, narcotic and barbiturate use among employees.

The article presents information about Philip Pilevsky, real estate developer in New York City. So far this year he has acquired more than 60 properties--33 of them in Manhattan. By dint of sheer volume, Pilevsky is building a reputation. But when it comes to dollars, Pilevsky is still small potatoes. His deals average $10 million. Pilevsky's manic personality--and good results--have helped him raise capital from wealthy investors. Pilevsky's specialty is spotting office buildings or apartment houses that have commercial space going at below-market rates. In a typical transaction he gets 75% of the initial financing from National Westminster Bank, with investors kicking in the balance. Pilevsky improves cash flow by raising rents.

This article reports that a very smart Wall Streeter dubs Jimmy Lee, ex-chairman of Gulf Oil Corp., "Oilman of the Year." In selling his company to Chevron Corp. for $80 a share, Lee doubled his shareholders' money, which is more than any other major oil did. Some big investor thinks well of Exxon, too. Instead of paying way over market for acquisitions, it bought $1.2 billion of its own stock, thus, at a reasonable price, handsomely enhancing the reserves behind remaining shares.

The article focuses on the video game business in the United States. Total revenues from video games hit $6.5 billion last year. That's over a billion more than Americans paid in 1993 to go to the movies. And while box office growth is stagnant, video-game revenues have almost doubled in the last three years. No wonder investors lust to get into the game business. But starting a company is a lot easier than breaking into the market. Video games require different sorts of talents than moviemaking does.

The article focuses on completion bonding and states that it was once on of the safest ways in Hollywood to make a little profit. As recently as five years ago, completion bonding was a profitable business dominated by two companies Completion Bond Co., acquired in 1990 by Transamerica, and Los Angeles based Film Finances. Independent producers had to buy the bonds before they could land bank financing for their films. And they paid the underwriters a pretty penny for the guarantee typically 6% of budget, although half the premium would be rebated if no claim resulted. The concessions weren't just financial.

The article shares the author's insights regarding investor relations at Time Warner Inc. in the U.S. She recounts that it is not easy being in investor relation at Time Warner because the stock has dropped from $180 to $70. She further points out that Time Warner has invited portfolio managers to a special screening of its film "GoodFellas."

The article reports on the fight of investors John Kluge and Summer Redstone over the shares and control of Orion Corp. in the U.S. It is accounted that Kluge having accumulated 31 percent of Orion's share and Redstone with 26 percent share, both filed for permission to increase their shares in February 1988 that would push Orion's share price to 19 percent. Kluge and Redstone has its own reasons on controlling the company which is to venture into other industries of their own preference.

The article presents information about venture capitalist, W. Mitt Romney. Four years ago Romney decided to take the knowledge he had acquired after eight years as a consultant at Boston-based Bain & Co. and apply it to his own venture capital operation, Bain Capital Fund Limited Partners. The plan was to take equity positions in growing companies and cash in when they go public. Within a year Romney had raised $37 million, something under a third of it from Bain Capital Partners. Romney still works very closely with his old company, often hiring Bain partners to take over management of the outfits he invests in.

The article looks at the reason why investor Ron Brierley from New Zealand bought Class A shares from Resort International. As the A shares represent 90 percent of the equity but only seven percent of the votes, the author speculates that Brierley might have figured that control of the company is will change and will be paid at full asset value.