Two sportsmen in the spotlight at symposium
part of the extra-curricular activity of the inaugural Bermuda Insurance Symposium.
Golfer Chi Chi Rodriguez and Joe Theisman, the former Washington Redskins quarterback and current television sports personality, are being enlisted to provide some light relief for the event.
The Symposium is being staged at Marriott's Castle Harbour between May 25-28 and is expected to attract 700 insurance people from all around the world.
* * * TV Television game show addicts will next year be able to take part in programmes such as `Jeopardy' and `Wheel of Fortune' from home thanks to Compact Disc Interactive, a new form of home entertainment.
CD-I versions of these shows are being brought out by Philips Electronics, in conjunction with the Sony Corporation.
CD-I incorporates a mixture of text, sound, moving film, high-resolution graphics and data on a compact disc, which can be viewed on a television set.
Bermuda-based company Five Rings, which manufactures CD-I software programmes, has been helping Philips get the new technology off the ground and into as many homes as possible.
After seven years of research, lots of capital expenditure and virtually no income, Five Rings boss Rick Morbey hopes to be well positioned to take advantage of the new industry when it takes off.
Some analysts expect the multi-media CD-I industry to be worth as much as $14 billion worldwide by 1995.
* * * CTS A son of the late billionaire J. Paul Getty, who was disinherited at an early age by his father, has filed for personal bankruptcy in Puerto Rico, citing debts of $43 million.
Not only is he broke, J. Ronald Getty has been accused by Merrill Lynch of lying about his assets to get $15 million in loans, a US Bankruptcy Court was told.
After the senior Getty's death in 1976, much of his estate went to the J. Paul Getty Museum and the Sarah Getty Trust and Ronald ended up with nothing.
Getty, who is in his 60s, claimed during a court appearance that he is penniless and relies on handouts from his brothers and children.
Five members of the family made Forbes magazine's list of the 400 richest Americans last year, and the family's trust was ranked No. 11 among Fortune magazine's wealthiest American families.
Merrill Lynch, the biggest creditor in the case, says Getty must repay $15 million plus $7 million in interest. The company is asking the court to exclude the debt from the bankruptcy proceedings.
* * * PTL Supporters of Britain's ruling Conservative Party are being asked to put their money where their vote is by getting a Conservative credit card.
The new card, which will cost customers 10 British pounds ($14.55) a year, is intended to help improve party finances. Last month, the Conservative headquarters, heavily in debt, reduced its staff and vowed to cut costs.
The Conservatives will receive 5 pounds ($7.28) for every card account opened and an unspecified sum every time the card is used.
* * * TOU The Marriott Corporation has signed a deal to acquire the Duna Intercontinental hotel, one of the Hungarian capital's prime landmarks.
The Washington-based hotel chain, which owns Marriott's Castle Harbour Resort in Bermuda, and an Austro-German banking consortium led by Austria's GiroCredit Bank AG der Sparkassen have just secured the acquisition.
Although no official figure is being given, purchase price is believed to be in the region of $53 million.
Most of this was paid by Marriott from its own assets with the hotel serving as collateral for a loan to cover the rest of the sum, the official said.
The hotel was put on the market in November, 1991, to raise money to pay off the debts of the state-owned Hungarhotels chain, which is earmarked for privatisation.
