Chapter Summaries

Aaron turned his attention from the Los Angeles Dodgers to the Asian Financial Crisis, returning to Hong Kong as speculators pressured the region’s markets. He decided to focus on South Korea and planned to travel there with Joey Wong.

• Aaron discussed Fox’s plans to acquire the Los Angeles Dodgers with Philip Anschutz but chose to prioritize securing an NFL team and stadium in Los Angeles.
• Aaron returned to Hong Kong, where Joey Wong told him that international hedge funds were targeting the territory and its linked exchange rate.
• Aaron spoke with Edgar Owen, who reported that speculators were selling Hong Kong dollars and that South Korea’s currency was also falling as foreign capital fled.
• Aaron told Joey Wong he would not short the Hong Kong dollar because he expected mainland China to protect Hong Kong, and said South Korea was his target.
• Joey Wong discussed investing in a clothing factory in mainland China, and Aaron invited her to travel with him to South Korea.

Aaron discussed South Korea’s financial collapse with Edgar Owen and planned to use the coming IMF-led restructuring to pursue Korean assets, especially TriStar Electronics. Over dinner with Joey Wong, he advised her about the plunging Korean Won and explained Dawn’s interest in South Korea’s film market, leaving the country’s entertainment industry on the verge of major change.

• Aaron told Edgar Owen that South Korea’s debt crisis and collapsing currency would force it to seek IMF help, creating opportunities for foreign investors.
• Aaron said he wanted to acquire South Korean assets, particularly TriStar Electronics, as the country’s financial situation worsened.
• Joey Wong asked whether she should exchange her currencies, and Aaron advised that the Korean Won would fall further and could later be bought cheaply.
• Aaron told Joey Wong that Dawn intended to enter South Korea’s film market while Hollywood pressured the country to reduce its domestic film quota.
• Aaron warned Joey Wong that South Korea was preparing a film rating system and supporting its entertainment industries as part of a national cultural push.

Aaron negotiated with Lee Kun-hee to invest in TriStar during South Korea’s mounting financial crisis, while preparing to watch the speculators’ attack on Hong Kong. He also offered to fund Norika Fujiwara’s purchase of her talent agency before leaving for Hong Kong.

• Aaron met Lee Kun-hee at the Shilla Hotel and discussed South Korea’s debt crisis and the flight of foreign capital.
• Aaron told Lee Kun-hee that Haihua Fund would inject capital into TriStar in exchange for major stakes in TriStar Electronics, TriStar Life, and Samsung C&T, while Lee insisted the Lee family retain control.
• Aaron returned to his suite and told Norika Fujiwara he planned to go to Hong Kong to watch the hedge funds target the Hong Kong dollar.
• Norika Fujiwara told Aaron that Cat's Eye Sisters had boosted her popularity and that her talent agency treated her well.
• Aaron offered to fund Norika Fujiwara to acquire her talent agency and invest in its television series and films, and she agreed to try after returning to Japan.

After Hong Kong’s markets and property sector collapsed, Aaron Anderson explained to Jacob Rothschild why he had stayed out of the fight and discussed the city’s British-controlled business interests. At a reception, Aaron spoke with Henry Keswick and met actress Yuki Law, who accepted his invitation to lunch.

• After the first round of financial attacks ended, Hong Kong’s Hang Seng Index, economy, stock market, and property market suffered severe declines while Aaron remained on the sidelines.
• Jacob Rothschild visited Aaron, who said Hong Kong’s established British and Chinese conglomerates left him little room to enter its finance and real estate industries.
• Aaron and Jacob discussed the Hong Kong dollar attack, South Korea, and the prospect of Jacob returning to Hong Kong the following year.
• At a business reception, Aaron discussed China’s possible WTO accession and Jardine Matheson’s holdings with Henry Keswick.
• Aaron asked actress Yuki Law to dance, and she accepted his invitation to have lunch with him the next day.

Aaron spent time with Yuki Law in Hong Kong as Dawn’s films performed strongly in Hollywood and Titanic premiered in Tokyo. Back in Hong Kong, he met with Kristy Yang and discussed the worsening entertainment environment amid the Asian Financial Crisis.

• Aaron dined with Yuki Law on a yacht and discussed her acting career, Hong Kong films, and Hollywood.
• Scream 2 opened to a strong $33 million weekend, while Dawn’s other films also performed well and The Chamber prepared for release.
• Aaron learned that audiences at Titanic’s Tokyo International Film Festival premiere applauded the film.
• Yuki Law visited Aaron’s villa, showered with him, and later left carrying gifts worth over a million Hong Kong dollars.
• Aaron considered the spreading Asian Financial Crisis at Haihua Investment’s Hong Kong office.
• Kristy Yang visited Aaron and invited him to Jumbo Kingdom, then discussed her work and Hong Kong’s entertainment industry.

Aaron tracked South Korea’s deepening financial crisis while returning to the United States and discussing investments, entertainment, and retail acquisitions with his associates. He met Warren Buffett, who praised Aaron’s performance and revealed Berkshire Hathaway planned to buy Dawn stock, while Aaron turned his attention to future opportunities in South Korea and China.

• Aaron monitored South Korea’s worsening crisis as the government pursued aid from the IMF, while Kristy Yang prepared to film My Date with a Vampire.
• Aaron returned to New York as South Korea’s exchange rate plunged past 1,300 and the country approached bankruptcy.
• Aaron read that Seagram Company was pursuing PolyGram and considered how its acquisition could expand MGM Entertainment’s music business.
• Aaron and Christiana Yeri discussed a possible Saks Fifth Avenue acquisition, Victoria’s Secret’s growth, and the box office performance of Mr. Bean’s Big Disaster and The Chamber.
• Aaron met Warren Buffett, who praised his performance in Asia and said Berkshire Hathaway planned to invest in Dawn stock.
• Aaron asked Buffett about Berkshire Hathaway’s investments in Japanese trading companies and considered future investments in South Korea and China.

Aaron inspected Toronto as a possible filming location, then returned to New York as Los Angeles won approval for an NFL expansion team. As South Korea accepted an IMF bailout, Aaron prepared to buy distressed assets and learned that citizens were donating gold to help the country.

• Aaron and Christiana Yeri discussed Dawn’s plans to film in Canada and visited Toronto to assess its prospects for a production studio.
• Aaron decided Dawn could film in Toronto but would wait for the city to improve its infrastructure before operating a studio there.
• NFL owners voted 29 to 2 to award an expansion team to Los Angeles, and Paul Tagliabue asked Aaron to submit a stadium feasibility report within six months.
• After South Korea agreed to IMF reforms in exchange for a $58 billion aid package, Aaron told Edgar Owen to proceed with their investment plan and said he had coordinated with Lee Kun-hee.
• Edgar Owen reported that South Koreans were responding to the crisis by donating gold to save the nation.

Aaron expanded Dawn’s sports and cable ambitions while profiting heavily from the Asian Financial Crisis, as Titanic opened to disappointing box-office numbers. At a Hollywood ball, he discussed the competing media empires with Rupert Murdoch, who recognized that News Corporation was falling behind Dawn across most entertainment businesses.

• Aaron told Jack Wellstone that the NFL had approved a Los Angeles team, named it the Los Angeles Starlight, and urged him to move quickly on the stadium plans.
• Nicole Kidman told Aaron that Australia had been affected by the Asian Financial Crisis, though less severely than other Asian countries.
• Titanic opened to $28 million, and media outlets questioned its prospects despite its strong word of mouth.
• Aaron reviewed his gains from the Korean won, stock market, and index futures, which had exceeded $3 billion.
• At a Hollywood ball, Aaron and Rupert Murdoch discussed Titanic, Fox’s acquisition of the Los Angeles Dodgers, and their companies’ media strategies.
• Rupert Murdoch acknowledged that News Corporation lagged behind Dawn in most entertainment sectors, while Aaron planned to expand Dawn’s cable networks.

Aaron discussed President Clinton’s clashes with intelligence agencies and Wall Street over budgets and the Glass-Steagall Act, then resolved to protect his interests in South Korea as Asia’s crisis was exploited. Titanic’s box office continued to grow, while Good Will Hunting earned strong reviews and made Matt Damon seem right for The Bourne Identity.

• Aaron met Leon Panetta, who described Clinton’s efforts to consolidate intelligence agencies and investigate their black budgets.
• Leon Panetta said financial giants wanted to repeal the Glass-Steagall Act, while Clinton opposed the change despite banks’ circumvention of the law.
• Aaron and Leon Panetta discussed Clinton’s growing ambition and the coming division of gains from the Asian Financial Crisis; Aaron insisted his share in South Korea was his to keep.
• Titanic took in more than 35 million dollars in its second week as critics praised its spectacle and themes.
• Good Will Hunting opened in a limited release, received strong reviews, and impressed Aaron and others with Matt Damon’s performance.
• Aaron’s team saw Matt Damon as a suitable leading man for Dawn Universal’s The Bourne Identity series.

Aaron advanced plans for the Los Angeles Starlight stadium, monitored political risks to Clinton’s presidency, and discussed the NFL team with Commissioner Paul Tagliabue. The chapter ended with Aaron and Sophie Marceau in Las Vegas, heading out to see Cirque du Soleil.

• Aaron and Inglewood Mayor Edward Vincent discussed securing nearby community-owned plots for parking and support facilities for the planned stadium.
• Aaron told Jack Wells that Clinton’s scandals threatened their political interests, asked him to watch Monica Lewinsky, and urged him to maintain ties with the Bush family.
• Aaron assured NFL Commissioner Paul Tagliabue that Los Angeles Starlight’s stadium would be built at Hollywood Park, with construction expected to begin in the second half of the next year.
• Aaron assessed the Lakers and other NBA contenders, noting that the Rockets might be able to defeat the Bulls.
• Aaron took Sophie Marceau to Las Vegas for Christmas, inspected construction at the Venetian Resort Hotel, and left with her to see Cirque du Soleil.

Aaron and Sophie Marceau vacationed in Las Vegas, where they discussed Cirque du Soleil, French politics, and Titanic’s growing box office success. After spending the night together, Sophie told Aaron she had been invited to play a Bond Girl, but she decided she was not interested.

• Aaron and Sophie watched Cirque du Soleil in Las Vegas and discussed the show’s success and other resident performances.
• Sophie told Aaron about France’s truck-driver strike and her recent trip to Paris to receive the Knight of the Legion of Honour.
• Sophie praised Titanic’s box office momentum, and Aaron recalled how critics had predicted the film would fail.
• After returning to their hotel, Sophie told Aaron that Michael G. Wilson and Barbara Broccoli had invited her to play a Bond Girl in the next James Bond film.
• Sophie rejected the role because she disliked the Bond Girl’s decorative part, and Aaron agreed she did not need the series to advance her career.

Aaron discussed Las Vegas tourism and the Venetian Resort Hotel with Sheldon Adelson before attending Dawn Universal’s celebration for Titanic, whose worldwide success dominated Hollywood conversation. At the party, Aaron warned Jeffrey Katzenberg that DreamWorks’ costly live-action films risked making the young studio a second Carolco Pictures.

• Aaron told Sheldon Adelson that Las Vegas tourism from Asia had declined during the Asian Financial Crisis, while Adelson remained confident in the Venetian Resort Hotel.
• Aaron returned to the hotel, where Sophie Marceau said she had stayed in because too many people recognized her.
• In 1998, Titanic topped the North American box office for five consecutive weeks and became a worldwide sensation.
• At Dawn Universal’s Titanic celebration, Aaron and Jeffrey Katzenberg discussed DreamWorks’ recent films and their uneven results.
• Aaron warned Jeffrey Katzenberg that DreamWorks needed to control costs, citing Sony Pictures’ losses and Carolco Pictures’ bankruptcy.
• Jeffrey Katzenberg agreed to speak with Steven Spielberg and David about DreamWorks’ direction.

Aaron discussed the DVD market and Seagram’s acquisitions with Edgar Bronfman Jr., then learned that investors were competing for TriStar shares in South Korea. He decided to increase his investment and travel to Seoul, while preparing to leave the country as Sophie Marceau returned to France to promote her film.

• Aaron told Jeffrey Katzenberg that DreamWorks’ rising production budgets were troubling, while expressing interest in DreamWorks Animation.
• Aaron and Edgar Bronfman Jr. discussed DVD sales, VHS rentals, MGM, and Seagram’s planned acquisition of PolyGram.
• Edgar Owen informed Aaron that several major investment groups were competing for TriStar shares in South Korea.
• Aaron ordered his team to increase its South Korean investment and arrange meetings with Lee Kun-hee and South Korea’s Treasury official.
• Aaron and Sophie Marceau discussed their upcoming travel and the spring releases of Man in the Iron Mask and The Mistress of Louis XIV.

Aaron completed major investments in South Korea before returning to the United States as President Clinton’s scandal with Monica Lewinsky erupted. Aaron expected the scandal to end Clinton’s political career and chose not to intervene beyond directing the Houston Post to publish impartial articles about the country’s progress.

• Aaron and Edgar Owen negotiated with South Korean officials and Lee Kun-hee, securing shares in Samsung companies and exchanging US dollars for Korean Won.
• Aaron told Lee Kun-hee to revive TriStar, then instructed Edgar Owen to pursue a 40% stake in Saks Fifth Avenue’s luxury department store business.
• News outlets exposed Clinton’s relationship with Monica Lewinsky, and Clinton denied the allegations at a White House press conference.
• At Dawn’s Brenham Farm, Aaron rejected Lloyd Bentsen Jr.’s suggestion that they shape Hollywood media coverage and directed the Houston Post to publish impartial articles about the United States.
• Jack Wells told Aaron that Monica Lewinsky often disappeared and could not be tracked, while Aaron predicted Clinton would not escape the scandal.

Aaron discussed the US midterm elections, the Houston Rockets, and a likely NBA lockout before returning to Los Angeles. At Dawn Pictures, he reviewed preparations for Rush Hour 2, which would film in Japan and Hong Kong.

• Aaron planned to meet George W. Bush in Austin and said he had also provided campaign funds to Jeb Bush.
• Aaron rejected Jack Wells's suggestion to attend Michael Jordan's All-Star Game and hoped the Rockets would stop the Bulls from winning a second three-peat.
• Jack Wells told Aaron that the NBA owners and Players' Union were deadlocked in collective bargaining negotiations, and Aaron expected a lockout.
• Aaron returned to Los Angeles after the Denver Broncos defeated the Green Bay Packers 31–24 in the Super Bowl.
• Ethelind Beckett told Aaron that Rush Hour 2's preparations were mostly complete and its budget had risen to $80 million, with Jackie Chan and Will Smith each receiving $15 million.
• Aaron approved plans to film parts of Rush Hour 2 at Universal Studios Japan and in Hong Kong.

Aaron met Hillary at a seaside villa to discuss the Clinton sex scandal and warned that intelligence agencies and powerful financial interests were moving against the president. He urged Hillary to investigate Monica Lewinsky’s connections discreetly, leaving his continued support conditional on containing the scandal before it led to impeachment.

• Aaron told Hillary that Clinton’s conflict with Wall Street had harmed his interests and that Dawn could not overcome the nationwide media coverage of the scandal.
• Hillary said CIA Director Louis Freeh was handling the matter, but the Supreme Court had authorized Ken Starr to investigate Monica Lewinsky and they could not interfere.
• Aaron warned that Monica likely held recordings and other evidence, then told Hillary to secretly investigate her relatives, friends, boyfriend, and colleagues using trusted people.
• Hillary feared Aaron was abandoning the Clintons, but Aaron said the investigation had to end safely to prevent Congress from impeaching the president.
• Aaron affirmed that he had supported Clinton, then said he needed a national television network and considered acquiring NBC or CBS.

Aaron discussed political support and Dawn’s acquisition ambitions with Dianne Feinstein, then reviewed the strong box-office and Oscar performance of Dawn’s films. The chapter ended with Aaron surprised by the popularity of Sony’s As Good as It Gets.

• Hillary confronted Clinton over his meeting with Aaron, and Clinton planned to issue press statements and speak with CIA Director Louis Freeh.
• Aaron promised a donation to the Los Angeles Fire Department and agreed to support the Democratic Party in California’s governor’s election.
• Aaron told Dianne Feinstein he wanted Dawn to acquire Westinghouse Broadcasting/CBS, and she pledged full support.
• Aaron argued that a wave of financial mergers would lead to broader corporate consolidation and that Dawn could not afford to fall behind.
• Titanic reached $330 million in North American box office and received a record fourteen Oscar nominations, while Good Will Hunting earned eight nominations and surpassed $70 million domestically.
• Ethelind Beckett reported that As Good as It Gets had earned over $90 million in North America and received seven Oscar nominations, surprising Aaron.

Aaron pushed Dawn to raise The Sixth Sense’s budget so it could afford Bruce Willis, then attended the NBA’s labor negotiations in New York and expected a lockout after the season. He left the talks unimpressed and watched Kobe Bryant play in the All-Star Game with Jennifer Connelly.

• Aaron asked Ethelind Beckett about The Sixth Sense script and approved raising its budget from $40 million to $50 million to offer Bruce Willis a $20 million salary.
• Aaron attended an NBA labor negotiation meeting in New York, where owners and the Players’ Union disputed salary caps and maximum contracts.
• Aaron dismissed a proposal to abolish or realign the Eastern and Western Conferences after it was rejected.
• Aaron watched Kobe Bryant play in the All-Star Game with Jennifer Connelly and discussed the Rockets’ young players and the league’s coming contract negotiations.
• Aaron told Jennifer Connelly that owners were prepared to lock out players after the season if negotiations failed, as the 1996 draft class sought extensions benchmarked against Kevin Garnett’s deal.

Aaron expanded his business holdings while preparing for a possible NBA lockout, and he discussed the Clinton scandal with White House Chief of Staff John Podesta. The chapter left Clinton’s allies waiting to see whether new evidence would emerge against him.

• Aaron discussed the Los Angeles Starlight’s arena plans with Jennifer Connelly and then acquired control of Saks Fifth Avenue through Tianhai Fund.
• Aaron told Saks Fifth Avenue CEO Cicero Wilson to prepare an IPO and expand into Canada and Asian markets.
• Ray Patterson told Aaron the NBA would enter a lockout after the season, and Aaron urged the Rockets to play well and keep their players training.
• MGM Entertainment acquired PolyGram Entertainment as Seagram Company took on heavy debt and put its liquor brands up for sale.
• Aaron questioned John Podesta about the FBI’s investigation of Monica Lewinsky, and Podesta said Clinton’s allies would have to wait for the scandal to subside unless new evidence appeared.

Aaron agreed to deepen Dawn’s cooperation with the CIA and returned to Los Angeles as the company promoted The Mummy. While discussing the film’s competition and Hollywood news with Kate Beckinsale, he learned that no one had yet announced plans to buy a Premier League club.

• John Podesta asked Aaron to help improve the CIA’s public image, and Aaron agreed to have Dawn contact the agency’s Hollywood liaison office.
• Aaron returned to Los Angeles as Dawn began promoting The Mummy, which was scheduled to open in May against DreamWorks and Paramount’s Collision Course.
• Aaron reassured Kate Beckinsale about The Mummy’s prospects and asked whether there was news of an organization buying a Premier League club, but she had heard nothing.
• Kate Beckinsale told Aaron that Titanic was a huge hit in Britain, and they discussed Kate Winslet’s sudden popularity and the film’s profits for 20th Century Fox.
• Aaron and Kate Beckinsale ran into Tim Burton and Johnny Depp, who were preparing Paramount’s Sleepy Hollow, before leaving the bar.