Can Baltimore's Birds Bail Out Their Owner?Larry Light and Harris Collingwood
Eli S. Jacobs is in the bottom of the ninth with two outs and a huge score against him. The financier, an eager Washington political networker with a disparate string of holdings, is trying to peddle his Baltimore Orioles in a bid to lessen the weight of his crushing debt. A bank is seizing his $2 million home in the Baltimore suburbs. Several lenders have judgments and pending suits against him, seeking $37 million in unpaid loans. And last year, he lost his controlling stakes in two troubled companies, Memorex Telex and Triangle Pacific Corp., after restructurings (table).
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