The Insider says the Edwards family will lose control of its theater chain

The Insider has pried enough snippets out of the tightly guarded Edwards Theatres Circuit bankruptcy proceedings to surmise how the deal with Denver-LA mogul Philip Anschutz will work. The informed speculation is that Anschutz Corp. and partner Oaktree Capital Management will wind up with majority ownership and management control, replacing the existing Edwards executive team. The Edwards family will keep an undetermined minority stake (maybe 40%), with an imputed value of around $15 million. The Anschutz team will arrange roughly $300 million in financing, using some $260 million in debt to take out Bank of America and other creditors Hot off Jim Riordan’s Seven Locks Press in Costa Mesa: “The Book of Deacon: The Wit and Wisdom of Deacon Jones” It will take more than a stock market dive to shake up Chapman U’s bullish economists. “We’re sticking with our forecast. We don’t think there will be a recession,” Esmael Adibi told the Insider at the B-school’s Economic Forum, which drew more than 700 to the Hyatt Regency Irvine. Adibi said there’s a “dichotomy” between a correcting Wall Street and a fundamentally sound economy. But Adibi saw a hopeful sign for the markets, too: “I just did the analysis. With the recent drop, the Nasdaq has risen at an annual rate of 13% since 1990. The historical return for equities is 12%.” So should investors jump back in? Maybe not yet,Adibi said the market could over-correct. CU prez Jim Doti was even more upbeat, if in jest: The market has skidded since hitting its peak on the day of last year’s Economic Forum, “so that means this should be the start of a new bull market.” But the quip of the day was from honoree (and trustees chairman, B-school namesake and rumored Spanish ambassador nominee) George Argyros. He explained to the crowd why, in addition to offices and apartments, he owns doghouses. (His Westar Capital portfolio includes the company that makes Dogloos.) “They don’t complain and they don’t sue” Bret Colson, Anaheim’s PR chief for 11 years, told Sandi Cain he’s leaving to start his own firm; he expects to stick around city hall another 60 days, to help find and groom a successor Fresh off its Fortune ranking as the worst company in America, CKE Enterprises, along with CEO Bill Foley and investment banker Cruttenden Roth (now Roth Capital) gets slammed in the March 12 New Yorker (” they succumbed to what’s known as ‘CEO hubris'”) At the other extreme, the March 26 New Yorker has a glowing, seven-page profile of Newport Beach luxury homebuilder Hadi Makarechian (Capital Pacific Holdings).