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THE INSIDER
(FORTUNE Magazine) – Why not dress for success the way PaineWebber's chairman does? John Bult's outside venture capital firm, Arbela, is backing British women's wear designer John Galliano. Judging from the micro-minis shown for spring, Bult must hope high hemlines portend a rising stock market. . . Speaking of bulls or, ahem, bull, some 50 fund managers representing $3 billion will be at next month's Astrology & Stock Market Forecasting conference in New York City. To its followers, financial astrology is no more laughable than, say, technical analysis. Lose a bundle for your clients? Just claim they were born under a bad sign. . . Auto-da-fe: Insider got hold of GM's breezy new Board Guidelines on Corporate Governance. ''A size of 15 is about right,'' say the rules, discussing how many members the board needs. Since the guidelines aren't wedded to the idea of a nonexecutive chairman, one might wonder whether John Smale, who righted the firm while holding that job, might move on. GM insists not. . .The way the defense business is going, the Pentagon may soon have only four walls. Textron and Boeing, makers of the V-22 Osprey, a tilt-rotor helicopter, just lowered the price from $37 million to $32 million. Sounds good, but because of accounting more complex than Whitewater, the true cost to taxpayers is more like $64 million. . . Dentists, not normally the most criminal of beings, are asking their traveling patients to smuggle home Colgate's Total toothpaste. It isn't sold in the U.S. because the FDA hasn't approved secret ingredient DP30 for killing bacteria. . . Kykuit, the John D. Rockefeller mansion in Pocantico Hills, New York, opens to the public next month. The Brancusi sculptures make it a must stop on any robber baron tour. . . Rules proposed by the FTC would force smokeless tobacco firms to print advisories like WARNING: THIS PRODUCT MAY CAUSE MOUTH CANCER on race cars they sponsor. Why not just say: ''Enuff with snuff''? -- A.R. |
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