But Zell swiftly disabused them of that hope. At a meet up with-and-greet session with Tribune staff members, he spoke about the need to shake up the corporate status quo to boost earnings. He expressed no reverence for common journalistic values.

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“The problem is, how do we get any individual 126 many years outdated to receive it up?” Zell informed an auditorium jam packed with Occasions staff members shortly soon after getting Manage. “I’m your Viagra, Okay?”

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The most tangible indications of Zell’s perseverance to alter Tribune’s cultural dynamics was set up at the organization’s Chicago headquarters: a multi-legged statue he dubbed the “bureaucratic shuffle.

In the seventies, he led an investment decision team that desired to amass a $9-million condominium and lodge sophisticated in Reno. The relatives that owned the house was hesitant to market right until Zell’s group arrived up using a want to deposit Section of the acquisition price within an offshore account, therefore cutting down the sellers’ tax Invoice.

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