May 31, 1990 |
It was, perhaps, the only way that this lawsuit could have ended. After a 6 1/2-year legal free-for-all, the Marciano brothers, creators of Guess jeans, won back full control Wednesday of that garment industry gold mine from their archenemies, the Nakash brothers, founders of Jordache.
June 3, 1989 |
The bitter fight between two bands of brothers for control of Guess Inc., a fabulously profitable jeans manufacturer, has moved to Washington and prompted accusations of a rigged congressional hearing. A House subcommittee investigating corruption in the Internal Revenue Service plans hearings later this month at which it will explore the ties between the four Marciano brothers, who founded Guess, and high-ranking IRS officials in California. The Marcianos' lawyers say Congress is being manipulated by the Marcianos' archfoes, the Nakash brothers, who own rival jeans maker Jordache and half of Guess and are fighting to take control of the other half.
November 13, 1989
U.S. District Judge Matthew M. Byrne is more than a little fed up with the legal antics in the feud between jeans makers Guess? and Jordache. Byrne fired some zingers at lawyers on both sides during a hearing Thursday in the federal suit by the Marciano brothers, founders of Guess?, alleging a dirty tricks campaign by associates of the Nakash family, Jordache's owners: "We're through fussing around in this case." "You'd think you'd get tired of listening to yourselves."
January 13, 1990 |
The Treasury Department's inspector general will establish a special independent force of 21 investigators to probe allegations of corruption and misconduct by high-ranking officials at the Internal Revenue Service, officials said Friday. The top levels of the IRS will be policed for the first time by persons outside the agency's own ranks, an outgrowth of congressional hearings last year on scandals involving the Los Angeles criminal investigation division of the IRS.
May 20, 1990 |
More tenants vacated West Los Angeles office space than moved in during the first quarter of 1990, marking the first time in more than five years that the now-overbuilt area has posted a negative absorption rate. Most local developers and brokers thought that the pricey Westside was "immune to troubles like high vacancies, overbuilding and lack of tenants that have plagued other areas," said John Carpenter, a senior vice president at Grubb & Ellis Commercial Real Estate Services.