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Article: Bermuda Triangle: where did the contract go? (authorities threaten McDonald Investments' venture in Bermuda)
- Article from:
- Multichannel News
- Article date:
- October 14, 1996
- Author:
CopyrightCOPYRIGHT 1996 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Washington -- Ships and airplanes aren't all that vanish in the Bermuda Triangle: You can now and business contracts to the mix, too.
That's what one American investor found out when the terms of a contract to start a cable TV system in Bermuda mysteriously disappeared after his Bermudian partners got hungry for higher profits.
William McDonald's Birmingham, Ala.-based investment firm agreed in 1987 to build and operate a cable system on the island-state in 1987, so long as his company could take home 60 percent of the profits and retain managerial control of the system.
McDonald Investment's partners in the channel-starved country were ...