And Ovitz Lived Happily Ever After
Your commentary had me slightly perplexed--reading that Michael Ovitz had fallen from the pinnacle of the entertainment mountain. I just don't see it that way ("A reporter confesses: How I got spun by Mike Ovitz," American News, Dec. 30).
There is an implication that Michael Ovitz walked away the loser from Walt Disney Co. But Disney is the loser. Disney lost a man with entertainment insight, who not only can make a great deal but can also close one. Ovitz left Disney with $90 million in cash and stock--for 14 months of work. Compare that with IBM's Chairman Louis V. Gerstner Jr., who made $80 million in stock after three years of work.
Ovitz proved again his great deal-making abilities.