Good News for Cleveland Golf; Bad News for Shuster
Hold the remote: The Insider hears stirrings that the Times and Register are separately looking into the possibility of rescuing or replacing cable channel OCN, which owner Adelphia Communications plans to shut down on Sept. 7 The El Toro airport effort got a lift last week when a key congressman took a helicopter and ground tour of the base and reportedly pronounced it a great place for a commercial airport. The visit by John Mica, R-Fla., chairman of the House Aviation Subcommittee Committee, was hosted by Supervisor Cynthia Coad and Los Alamitos Councilman Ron Bates and was quoted as saying, “El Toro makes the most sense of anything I’ve seen” David Toms wasn’t the only winner at the recent PGA Championship, of course. So was the company whose clubs he endorses, Cleveland Golf, with its logo plastered across Toms’ visor and golf bag for the world to see. It’s the latest in a string of good news for the ambitious Cypress-based manufacturer, which has been growing in a brutal retail segment. Sales, up more than 30% a year since 1997, are approaching $100 million; CEO Greg Hopkins wants to reach $250 million by 2006. Cleveland’s fledgling line of woods should get a boost from Toms, who used one to make his dramatic hole-in-one at the PGA. Cleveland already dominates in wedges and Toms hit two beauties to set up his winning putt (alas, the putter was one of only two non-Cleveland clubs in his bag). Toms’ title was the third “major” for Cleveland clubs, following Corey Pavin’s U.S. Open victory in 1995 and Vijay Singh’s Master’s win last year Well wishes for Broadcom spokeswoman Eileen Algaze, who undergoes surgery for colon cancer this week at Hoag Three years ago, former Lion Country Safari operator Harry Shuster walked away with a reported $4 million from the Irvine Co., offset by an order he pay $500,000 in legal fees, ending a stormy and protracted battle over his eviction from Irvine Meadows (now Verizon Wireless Amphitheater). Shuster has not fared as well in a fight with the feds. A New York jury recently found the Beverly Hills businessman guilty on seven counts of securities fraud and money laundering, part of the on-going case against defunct Long Island “boiler room” operator Stratton Oakmont that has resulted in several persons’ convictions. As of press time Shuster was in custody in Brooklyn awaiting a Nov. 16 sentencing after the court rejected his bail offer of $13 million. He faces up to 20 years in prison on one count, a fine of nearly $6 million, forfeiture of $5 million in gains, and restitution to investors who the government said lost “tens or hundreds of millions of dollars” Speaking of the Verizon Amphitheatre, was that Publisher RR in the snakeskin pants at last week’s Aerosmith concert?
OC license plates:
LV4SERF
IBY4ME
HATE TRFC
H8 TRFK
PIXL8ED
ASTUTE
NT STSFD
KRE8TF
PRGESV
I M LATE
JAMN IB
TACTFUL
SQIRLY
MGNFSNT
SASSEY1
RUBR NKN
