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Keith Barish

From Wikipedia, the free encyclopedia

Keith Barish (born November 11, 1944) is an American businessman and film producer.[1][2] He is known for the creation of Gramco, an ill-fated offshore fund,[3][4][5] and for being the former restaurateur of Planet Hollywood,[6][7][8][9] which he co-founded with Robert Earl in 1991.[10][11][12] He also served as the producer of such films as Sophie's Choice (1982), The Running Man (1987) and The Fugitive (1993).[11][12][13] Barish also produced the film Ironweed (1987).[14][15][16]

Life and career

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Barish was born in Los Angeles.[17] He moved to Miami at the age of three, when his parents divorced.[17]

In the early 1960's, Barish interned for one year in the White House under the administration of John F. Kennedy.[5] In 1962, he was instrumental in starting the Manufacturers National Bank in the Miami suburb of Hialeah, Florida. At the time he was only 18, so that he requested his mother to sit for him in shareholders meetings.[18] In 1967, Barish was already wealthy and had gained fame as a "financial whiz kid around Miami" when he started a mutual fund offshore company with investments in American real estate known as Gramco.[5][19] It was structured as a holding company with GRAMCO International S.A. at the top, which was registered in Panama.[18][19] A trust company was set up in the Bahamas to sell shares of Gramco's stock, but only to customers outside the United States so that it avoided oversight from the U.S. Securities and Exchange Commission (SEC).[18][19] It was chaired by Rafael G. Navarro, a Cuban exile who was sought out by Barish for his expertise as mutual funds sales manager.[19] With Barish as chairman of the top holding company, Gramco went public in May 1969, issuing one million shares for $10 each.[18] Gramco basked in the aura of the former Kennedy administration having hired a number of its alumni, including Pierre Salinger as a director.[19][20] Otherwise, Gramco's advertising literature quoted Barish as saying that "we are engaged in a system that uses money for social good… to prevent economic injustice, and make the world a better place" and it also assured that Barish had "larger goals than merely making a lot of money."[18] On the other hand, Gramco invited scrutiny for unusual financial practices that enabled Barish and its associates to keep between 17% and 18% of their customers' investments for their own profit.[5][18][21] Gramco was also criticized for conducting operations that would have been illegal in the United States and Great Britain.[22] For a while, Gramco was very successful, as it accumulated net assets amounting to $278 millions and its shares climbed to $38.[3][19] In August 1970, Barish declared to the editorial staff of der Spiegel: "It would be more likely for a giant to lift the Empire State Building from the ground and place it back on its head than for Gramco to run into serious difficulties."[23] Yet, only shortly thereafter did Gramco's shares fall precipitously to $1.50 as the result of a cash drain that was attributed to its unorthodox financial practices, the impact of a sales ban in West Germany, and a loss of investors' confidence in offshore funds.[3][21][24] On October 8, Gramco halted the redemption and sales of its stock, essentially freezing the assets of 23,000 shareholders whose investments amounted on average to $12,000.[23][25] Even then, Gramco's management made further profits as it kept charging fees for managing the funds' assets.[26] In 1971, profits from the Gramco venture allegedly enabled Barish to move to 740 Park Avenue and pursue an affluent lifestyle.[22][27] In contrast, Barish has stated that his fortune was made in Florida land deals.[22] He has also claimed to be unconcerned about public criticism leveled at his role with Gramco, saying "I never read the good or the bad. It comes with the territory."[22] In May 1972, the management of Gramco's portfolio was transferred to Arlen Realty and Development Corporation.[28] In 1973, a $40 million class action lawsuit was filed against Barish and company by two Gramco shareholders.[22] Among other claims, the plaintiffs asserted that "Gramco International, a Panamanian corporation [...] was allegedly formed to allow Barish and his associates to establish themselves in a jurisdiction where their interests and receipt of fees and commissions could be concealed".[29] However, the action was dismissed in 1975 due to the court's lack of subject matter jurisdiction.[29] Also in 1975, Gramco's shareholders regained access to their stock as the fund was absorbed by Arlen, but it was then traded at a small fraction of its original value.[30]

Barish officially became a film producer in 1979 and first produced the film Endless Love (1981), followed by Sophie's Choice (1982).[17][31] He then subsequently set up a nine-picture production deal at 20th Century-Fox through a three-year alliance via the Keith Barish Productions banner.[32]

Barish then served as chairman of Taft Entertainment/Keith Barish Productions, which he co-founded in 1984 with a subsidiary of Taft Broadcasting, with 20th Century-Fox intended as film distributor, then Tri-Star Pictures took over Fox's duties.[16][33]

On December 31, 1985, Taft-Barish Productions inked an agreement with Producers Sales Organization (later the duties were assumed by J&M Entertainment after PSO went bankrupt) to handle worldwide sales of its own films, with Tri-Star Pictures handling film distribution.[34] On August 13, 1986, film director Taylor Hackford, filed a lawsuit against Keith Barish's production company for breaching an agreement to co-develop the film At Play in the Fields of the Lord, with Barrish getting a development option from MGM/UA.[35] At one point, Barish was attached to produce The Flintstones (1994).[36][37]

On August 20, 1986, Taft/Barish Productions had inked a $200 million agreement with Tri-Star Pictures to handle four to six films per year, with production and distribution costs will be funded entirely by Taft/Barish, a joint venture of Taft Motion Pictures and Keith Barish Productions.[38] On October 8, 1986, Rob Cohen was appointed vice chairman of Keith Barish's production company, and served as executive producer on most of the Taft-Barish projects.[39] In August 1987, Taft-Barish Productions and Tri-Star Pictures decided to scale down projects from four-to-six to two-to-three projects yearly, with a new emphasis on higher budgeted, high quality films, rather than having a previous mixture of various product that the original agreement had to offer.[40] In October 1987, ahead of MIFED, the international film rights to the Taft-Barish projects in a group package were picked up by J&M Entertainment, a foreign sales distributor, after the collapse of defunct film distributor Producers Sales Organization, and certain sales of the Taft-Barish projects were assigned to another Taft Broadcasting subsidiary Worldvision Enterprises, which will retain film and television rights on the four Taft-Barish group pictures.[41]

In 1991, Barish and Robert Earl co-founded Planet Hollywood.[11][42][43][44] Barish left Planet Hollywood in 1999.[45][46][47]

Barish is married to socialite Ann Barish.[13] They have a son, Chris.[13][48][49]

Filmography

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He was a producer in all films unless otherwise noted.

Film

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Year Film Notes
1981 Endless Love Executive producer
1982 Sophie's Choice
Kiss Me Goodbye Executive producer
1984 Misunderstood Executive producer
1986 9½ Weeks Executive producer
Big Trouble in Little China Executive producer
1987 Light of Day
The Monster Squad Executive producer
The Running Man Executive producer
Ironweed
1988 The Serpent and the Rainbow Executive producer
1989 Her Alibi
1990 Fire Birds Executive producer
1993 The Fugitive Executive producer
1998 U.S. Marshals Executive producer
As an actor
Year Film Role
1993 Last Action Hero Himself
Thanks
Year Film Notes
1997 The Brave Special thanks
2015 Little Loopers The producers wish to thank
Ghost Squad Special thanks
Christmas Trade Direct-to-video
Special thanks to

Television

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Year Title Notes
1984 A Streetcar Named Desire Television film
Executive producer
As an actor
Year Title Role
1984 The Fall Guy Himself

References

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  1. ^ Hawker, Tom (18 July 2012). "25 Things You (Probably) Didn't Know About The Expendables". IGN. Retrieved 1 September 2019.
  2. ^ Archerd, Army (4 October 1993). "New Planet Hollywood inaugurated in D.C." Variety. Retrieved 1 September 2019.
  3. ^ a b c "Bonn makes it rough for Gramco". Business Week. 10 October 1970. Retrieved 11 August 2023.
  4. ^ "Mutual funds: Gramco: The second domino". Time. 19 October 1970. Retrieved 12 August 2023.
  5. ^ a b c d Brooks, John (1999). The Go-Go Years:The Drama and Crashing Finale of Wall Street's Bullish 60s. New York: John Wiley. ISBN 9780471357551.
  6. ^ Gardner, Eriq (30 April 2015). "Planet Hollywood Founder Becomes Latest Target in Hunt for Ken Starr Money". The Hollywood Reporter. Retrieved 6 November 2019.
  7. ^ Adler, Jerry (27 October 1991). "DINING WITH WOLVES". Newsweek. Retrieved 1 September 2019.
  8. ^ "FILMING TO BEGIN THIS SUMMER ON BIG-SCREEN 'THE FUGITIVE'". Sun-Sentinel. 10 February 1992. Retrieved 1 September 2019.
  9. ^ White, Adam (21 December 2016). "The billionaires, supermarket moguls and tycoons financing your favorite Hollywood movies". The Daily Telegraph. Retrieved 1 September 2019.
  10. ^ Ryan, Nancy (10 June 1992). "NEW EATERY BETTING CUSTOMERS WILL HAVE STARS IN THEIR EYES". Chicago Tribune. Retrieved 1 September 2019.
  11. ^ a b c Gross, Daniel (11 August 2003). "Arnold's Bad Business: Is his campaign the new Planet Hollywood?". Slate. Retrieved 1 September 2019.
  12. ^ a b Abramovitch, Seth (21 August 2014). "Throwback Thursday: When Stallone and Schwarzenegger Teamed Up for Planet Hollywood". The Hollywood Reporter. Retrieved 1 September 2019.
  13. ^ a b c Gaines, Steven; Landman, Beth (25 June 2001). "6 Most Gracious Hosts on the East End". New York. Retrieved 1 September 2019.
  14. ^ Grondahl, Paul (9 December 2016). "'Ironweed' effect lives on in Albany 30 years after film". Times Union (Albany). Retrieved 1 September 2019.
  15. ^ Conway, Ann (12 October 1992). "Stars to Orbit Planet Hollywood's O.C. Opening". Los Angeles Times. Retrieved 1 September 2019.
  16. ^ a b Van Gelder, Lawrence (30 May 1986). "AT THE MOVIES". The New York Times. Retrieved 1 September 2019.
  17. ^ a b c Suplee, Curt (7 June 1981). "The Passion of the producer". The Washington Post. Retrieved 1 September 2019.
  18. ^ a b c d e f Raw, Charles; Page, Bruce; Hodgson, Godfrey (1971). "Do You Sincerely Want to Be Rich?" The Full Story of Bernard Cornfeld and IOS. New York: The Viking Press. SBN 670-28063-1.
  19. ^ a b c d e f Lee, John M. (12 October 1970). "Offshore funds encountering a skeptical investor attitude". The New York Times. Retrieved 11 August 2023.
  20. ^ "Investment: Pierre as financier". Time. 13 September 1968. Retrieved 12 August 2023.
  21. ^ a b "Möglichst imposant". Der Spiegel. 13 September 1970. Retrieved 12 August 2023.
  22. ^ a b c d e Gross, Michael (2005). 740 Park, The Story of the World's Richest Apartment Building. New York: Broadway Books. ISBN 9780767917445.
  23. ^ a b "Es ist Schluß". Der Spiegel. 11 October 1970. Retrieved 12 August 2023.
  24. ^ Lee, John M. (6 October 1970). "Redemptions imperil Gramco's fund". The New York Times. Retrieved 11 August 2023.
  25. ^ Lee, John M. (9 October 1970). "Gramco suspends U.S.I.F. sales". The New York Times. Retrieved 11 August 2023.
  26. ^ "In den Sternen". Der Spiegel. 25 October 1970. Retrieved 12 August 2023.
  27. ^ Shnayerson, Michael (3 August 2010). "All The best victims". Vanity Fair. Retrieved 11 August 2023.
  28. ^ Sloane, Leonard M. (23 May 1972). "2 billion in real estate now controlled by Arlen". The New York Times. Retrieved 11 August 2023.
  29. ^ a b "Recaman v. Barish, 408 F. Supp. 1189 (E.D. Pa. 1975)". Retrieved 12 August 2023.
  30. ^ "Drei Musketiere". Der Spiegel. 20 July 1975. Retrieved 12 August 2023.
  31. ^ Harmetz, Aljean (17 February 1981). "BARISH BUYS FILM RIGHTS TO FEMINIST MUSICAL 'ACT'". The New York Times. Retrieved 1 September 2019.
  32. ^ Loynd, Ray (1983-04-13). "Indie Barish Follows Initial Click with Nine-Film Fox Deal". Variety. p. 7.
  33. ^ "Taft Entertainment, Barish Form Pact". Variety. 1984-05-02. p. 4.
  34. ^ Greenberg, James (1986-01-01). "PSO Acquires Worldwide Distrib For 10 Produced By Taft-Barish". Variety. p. 3.
  35. ^ "Sue Barrish Prods. Over 'Lord' Pact". Variety. 1986-08-13. p. 20.
  36. ^ Pirnia, Garin (30 September 2017). "15 Solid Facts About The Flintstones". Mental Floss. Retrieved 1 September 2019.
  37. ^ Ascher-Walsh, Rebecca; Gordinier, Jeff; Kennedy, Dana (3 June 1994). "Bringing The Flintstones to the big screen". Entertainment Weekly. Retrieved 1 September 2019.
  38. ^ Tusher, Will (1986-08-20). "Taft/Barish Pacts With Tri-Star For 10 Pics, With More Possible". Variety. p. 7.
  39. ^ "Cohen Barish Chair". Variety. 1986-10-08. p. 5.
  40. ^ "Taft-Barish Deal With Tri-Star Pared Down To 2-3 Pics Yearly". Variety. 1987-08-19. pp. 6, 36.
  41. ^ "J&M Entertainment's Milan Lineup Includes Four From Taft-Barish". Variety. 1987-10-21. p. 442.
  42. ^ "Planet Hollywood sets expansion". United Press International. 30 May 1996. Retrieved 1 September 2019.
  43. ^ "Cash for Planet Hollywood". CNN. 6 August 1999. Retrieved 1 September 2019.
  44. ^ Siklos, Richard (24 September 2007). "Savor Those Curly Fries: Planet Hollywood Is Back (Again)". The New York Times. Retrieved 1 September 2019.
  45. ^ Johnson, Beth (26 October 2001). "Planet of the Aches". Entertainment Weekly. Retrieved 1 September 2019.
  46. ^ Snyder, Jack (26 March 1999). "CO-FOUNDER DEPARTS PLANET HOLLYWOOD JOB". Orlando Sentinel. Retrieved 1 September 2019.
  47. ^ "Planet Hollywood co-founder resigns". Deseret News. 27 March 1999. Retrieved 1 September 2019.
  48. ^ Preston, Sarah (8 October 2007). "All Shook Up". Chicago. Retrieved 1 September 2019.
  49. ^ Sheckells, Melinda (29 December 2017). "What's New in Las Vegas for the New Year". The Hollywood Reporter. Retrieved 1 September 2019.
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