Sumner & Sam Share A Year To Forget..

Thursday, July, 30, 2009 by Mel Phillips.

They have nothing in common except a very bad year.  Both Sumner Redstone and Sam Zell will be happy to see 2010.  Don’t look for big New Year’s Eve celebrations for either media mogul.  Redstone is being dragged over the coals by his family.  Nephew Michael Redstone is suing both his father, Edward and uncle Sumner claiming he’s owed at least several million dollars based on a trust with shares in the Redstone family-owned-theater chain National Amusements, left to him by Sumner’s father Mickey.  The Los Angeles Times reports that if the presiding judge in the case rules in Michael Redstone’s favor, there will be a subsequent trial to determine what he’s owed.  National Amusement is currently $1.46 billion in debt.  That number will swell should Michael win his lawsuit…

Sam Zell believes in the tooth fairy.  He also believes that his Tribune Company could exit Chapter 11 as early as the end of the year.  This, a day after Tribune Co. asked a bankruptcy court for more time to complete its reorganization plan.  Zell tells CNBC that he believes the Cubs and landmark Wrigley Field venue will ultimately be sold to the Ricketts family, which already reached a deal earlier this month that is valued at slightly less than their original $900 million bid.  The sale has to be approved by the bankruptcy court in addition to Major League Baseball team owners.  Zell made his billions in real estate but hasn’t been a successful media mogul as evidenced by his bankruptcy of the Tribune Company…

Both Redstone and Zell should eventually do quite well financially post lawsuit and bankruptcy business.  No need to take up a collection for either one… 

10 Timeline Memories: 

1. 1956] Our motto is born: By order of Congress and approved by President Dwight D. Eisenhower, “In God We Trust” becomes our national motto after being on coins since 1864…
2. 1960] Pats win…Pats win…Pats win: In the 1st American Football League pre-season game, the Boston Patriots beat the Buffalo Bills 28-7…
3. 1965] Medicaring: President Lyndon B. Johnson signs into law, the Social Security Act, establishing Medicare and Medicaid…
4. 1970] De-Kleining: The Rolling Stones fire Allen Klein as their business manager…
5. 1975] Poof: Former Teamster Union president Jimmy Hoffa disappears in suburban Detroit. Although presumed dead, his remains have never been found…
6. 1990] The Boss is banished: Yankees principal owner George Steinbrenner is ordered by the Baseball Commissioner to resign for hiring a private detective (Howie Spira) to spy on outfielder Dave Winfield. Although banned for life, he is reinstated in 1993…
7. 1998] “Happy Trails“: Buffalo Bob Smith, Howdy Doody’s daddy, dies of lung cancer at 80. I had a picture taken with Smith and Howdy when they visited CBS-FM shortly before his death and he looked like the picture of health…2003] Sun Records founder Sam Phillips who discovered Elvis Presley, dies of respiratory failure in Memphis at 80…2007] Legendary football coach Bill Walsh is a victim of leukemia at 75…
8. 2000] Wedding Bells: Jennifer Aniston and Brad Pitt walk down the aisle. They will divorce in 2005…
9. 2003] The last Beetle: In Mexico the last ‘old style’ Volkswagen Beetle rolls off the assembly line…
10. 2006] The “Top” stops spinning: The world’s oldest and longest running music show “Top of the Pops” is broadcast for the last time on BBC Two. The show had run for 42 years…









    







Music Memories:

• 1966] Number One on this date: “Yesterday…and Today” LP - Beatles…
• 1971] Released on this date: “Bangladesh” - George Harrison…

“Happy Birthday…happy birthday“: Jaime Pressley (32), Hilary Swank (35), Lisa Kudrow (46), Laurence Fishburne (48), Anita Hill (53), Delta Burke (53), California Governor Arnold Schwarzenegger (62), Paul Anka (68), Peter Bogdanovich (70), Buddy Guy (73), Bud Selig (75) and Edd(”Kookie”)Byrnes (76)…












Timeline Countdown: 9 days until NFL HOF induction, 39 days until Labor Day and 42 days until the NFL opener…

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