The business on...Larry Hagman, Actor, aka JR Ewing
Saturday 09 October 2010
What's JR Ewing doing in the business section?
Come, come. JR was just about the greatest independent oil man in Texas (at least when Dallas was a top-rated soap). But it's not the character we're interested in. It's the actor who played him: Larry Hagman has just won a cool $11.5m (£7.2m) from Citigroup.
That's a trick worthy of JR himself
Steady on now. Hagman was sinned against rather than sinner. He accused Citi in May 2009 of a "breach of fiduciary duty" and "breach of contract, fraud by misrepresentation and omission, failure to supervise and violation of federal and state law", according to a ruling by an arbitration panel of Finra, a self-regulatory body of the US financial industry.
Tell us more...
Well, the dispute was linked to securities in his investment portfolio and the sale of a life insurance policy. Finra ruled that Citi must pay $10m in punitive damages to charities selected by Hagman, together with $1.1m in compensation to him and legal fees of $440,000.
Presumably there was JR-like behaviour by the bankers?
What, and you're surprised by that after what's been going on for the past couple of years? By comparison to banks, Ewing Oil almost looks like the John Lewis Partnership. But yes, the award was unusually large after Finra said Citigroup Global Markets "engaged in serious misconduct".
What does Citi have to say?
The bank is less than pleased. It disagrees with the ruling, and has said it is disappointed and is "considering its options". JR's battle royale with the banks may have some way to run. Anyone interested in a movie script?
What's Larry been doing since JR rode off into the Texan sunset?
You'll love this. Together with a steady stream of acting jobs, he also has a role in business. He has become a spokesman for a solar energy company. And according to SolarWorld, Hagman's California pad was the largest residential producer of solar power in the United States. It's true: JR has gone green!
- 1 Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 4 The day I starred in Only Fools and Horses
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings plane crash: Andreas Lubitz 'had eyesight problems' and woke from nightmares 'screaming we’re going down'
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...