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"I hope some historical society takes it over," said Wegner Porter was born in Peru in 1891 and wrote more than 1,500 songs for stage, movies and television, including such standards as "I Get a Kick Out of You" and "Anything Goes "I'd like to see it fixed back up and become something the county can be proud of Keith Wegner, the other bidder, said he also hoped the house could be restored Two men bought the house at a Miami County tax auction last week The house where Porter was born rests on two neighboring lots which were divided for the auction last Thursday, said Michele Mullins of the county treasurer's office " Both bidders must wait a year before making any such move " But the bidders weren't partners â€â€? they split the property, which was sold in two separate parcels The original owner can regain the property if he pays the overdue taxes and penalties within that time People in the News Oct 30, 8:11 AM EST The sale of jazz composer Cole Porter's birthplace was a duet of sorts, but it wasn't harmonious Local resident Brian Boyce won one parcel with an $800 proxy bid, but a Michigan man outbid him on the second, which sold for $9,000 Boyce said he was considering having the historic house restored and converted into a bed and breakfast The board also agreed to reduce its size from 16 to between 12 and 15 members Board member Robert Stern was also stripped of his independent status because he provides architectural services to Eisner The board also appointed former Seagram vice chairman and chief financial officer Robert Matschullat to the board, making him chairman of the important audit committee Gold and Disney are believed to have been critical of the performance of Disney chairman and chief executive Michael Eisner in recent months Disney said it reduced the value of the film by $74 million before taxes, or $47 million after taxes The composition of the smaller board will be announced in the company's proxy statement in late January The film earned only $12 million at the box office in its opening weekend and cost $140 million to make Even though the film was not released until last week, the company is required to revise its latest earnings report because it has not yet filed its annual report with the SEC The board of directors also adopted new guidelines to strengthen its independence 7 percent, to $17 It named board member George Mitchell to preside over the meetings " Disney also disclosed after the stock market closed Tuesday that federal regulators are investigating employment relationships between the company and relatives of several independent board members On Tuesday, the company said it is cooperating with the Securities and Exchange Commission investigation into an August amendment to its 2001 year-end report The amendment revealed that three of Disney's independent board members had grown children employed by the company in recent years A fourth independent board member's wife is employed at Lifetime Entertainment Television, a cable network half-owned by Disney, which is based in Burbank, Calif " It said full-year 2003 results would still rise by double digits, despite the film flop Disney's board also voted to require at least two annual executive sessions of the board outside the presence of the company's management 30 and its full-year results, recognizing a decline in the book value of "Treasure Planet George Mitchell as a presiding director Sen The guidelines strip longtime board member Stanley Gold of his status as an independent director because his company manages the private investments of board member Roy Disney The adjustment changes its per-share earnings for the full year from 63 cents to 60 cents S Disney also warned that its first quarter results would be reduced by 1 cent per share because of "Treasure Planet shares dropped nearly 5 percent by midday Wednesday in the wake of its announcement that it had lowered its fourth-quarter earnings because of the woeful box-office performance of its latest animated film "Treasure Planet In the restatement, Disney shaved 2 cents off its already-reported earnings per share of 11 cents for the fourth quarter ended Sept Disney said it has begun a series of long-expected corporate governance moves, including the appointment of a new independent director and naming former U 67 a share In midday trading Wednesday on the New York Stock Exchange, Disney shares were down 87 cents, or 4 Disney Reveals Probe, Shares Drop Dec 4, 12:22 PM EST LOS ANGELES (AP) â€â€? The Walt Disney Co " With the restated results, Disney had quarterly net income of $175 million instead of the $222 million it reported last month |
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