Greeks in America the National Herald FEBRUARY 25, 2006

The50 Wealthie$t Greeks in America The National Herald FEBRUARY 25, 2006

The 2006 Wealthiest Greek Americans List is a $ign of the Times

The National Herald, for the seventh consecutive year, is publishing its list of the 50 Wealthiest Greek Cotsakos, formerly of E*Trade fame. Americans. The list combines information from Herald sources, as well as public sources and data released in But Greek Americans in the technology and communications industries had a great year. Among them, Forbes and Crain's. Michael Capellas, who just joined network equipment giant Cisco Systems with a ru- This year's list features some of the “usual suspects,” along with some new names. mored $40 million severance package in his back pocket from presiding over Peter Nicholas, chairman of the biomedical manufacturer Boston Scientific is once MCI's acquisition by Verizon. Capellas, an outspoken advocate of corporate again topping the list, despite growing insecurity in the industry of minimally in- liability, may very well be remembered for his role in making this a vasive surgery products. smooth transition. At second place, oil and real estate mogul George Phydias Mitchell has Engineer and MIT Professor George Hatsopoulos, as well as increased his fortune by almost one billion dollars this year, a sign of James Bidzos and Stratton Sclavos, founder and CEO, re- the spike in oil prices. As for investment guru John Calamos, this spectively, of the Internet and telecommunications year's third richest Greek American, he has literally skyrocketed powerhouse VeriSign, are still holding strong on the on our list. Calamos is one of the few fund managers in the list. Their success proves that technological innovation is country who did exceptionally well during the past year. a surefire path to making a fortune, but it can also be seen Members of the “older” generation of Greek American as a sign of Greeks' overall success in America: Hatsopou- businessmen still dominate the list, as the names Jaharis, los is a Greek-born, Athens-educated innovator who, al- Spanos, Catsimatidis, Valiotis, Stavropoulos, Payiavlas ready well into his seventies, tries his luck at new ventures, and Tsakopoulos are featured prominently once again. while Sclavos and Bidzos are two Greek American technology Newcomers include Chicago real estate developer Ni- geeks, who made it big at a young age. cholas Gouletas, military equipment manufacturer So- Greek Americans have permeated the business and academic teris Fassoulis, as well as New York-based businessmen world in various degrees and under different capacities. Whether Mike Angeliades and Nicholas J. Bouras, who fared well billionaires, celebrities and athletes (yes, Jennifer Aniston and Pete in the construction and steel construction industries, re- Sampras are on the list once again) or local success-stories, these 50 spectively. individuals are people to keep watching. There are also some absentees, most notably Christos

John Calamos: Economic Freedom $ After Presiding Over Verizon-MCI $ Ensures Greater Individual Liberty $ Merger, M. Capellas Joins CISCO By Zoe Tsine By Evan C. Lambrou president and CEO, Cisco Systems; John L. the world, providing professional asset manage- $ Special to The National Herald Hennessy, Ph.D., president, Stanford University; Special to The National Herald ment services to major corporations, public and Richard M. Kovacevich, chairman and CEO, NEW YORK - “Money, to me, has always private institutions, pension funds, insurance $ NEW YORK - Network equipment maker Wells Fargo & Company; Roderick C. McGeary, been a way of gaining independence,” said John companies and individuals. Cisco Systems, the world's largest supplier of da- chairman, Bearing Point; James C. Morgan, Calamos, the billionaire founder and chief exec- As for Mr. Calamos himself, he is considered $ ta networking gear, announced that Michael chairman, Applied Materials; Steven M. West, utive officer of Calamos Investments, one of the among the wealthiest people in the world, as well Capellas, the former president and chief execu- founder and partner, Emerging Company Part- country's leading money management and in- as an outstanding money management success $ tive officer of MCI, has joined its board of direc- ners; and Jerry Yang, co-founder, and director vestment firms. story, having maintained a low profile and an im- tors. His appointment to the Cisco board was ef- of Yahoo, Inc. Mr. Calamos has made his fortune by manag- maculate reputation in a field where falling from $ fective on effective January 31. Capellas left MCI in early January 2006, after ing other peoples' and other companies' money. grace can be as public as it can be unexpected, as "We are pleased to have Michael Capellas the company's acquisition by Verizon Communi- The Greek American opened his firm, a seemingly meteoric rise can just as easily be fol- $ join Cisco's board of directors," said Cisco Chair- cations. Verizon, the largest phone company in Calamos Asset Management, in 1977 and soon lowed by an equally rapid decline. man John P. Morgridge. " Michael is a seasoned the United States, closed its $8.46 billion acquisi- made a name as a top performer in convertible “I don't think money was ever a primary moti- $ general manager and a 30-year veteran of the in- tion of MCI, the second largest long-distance bonds, an area in which few dared to venture at vation for me,” Mr. Calamos mused. “Money to formation technology business. With his cus- telephone provider in January. Capellas drew a the time. Since then, the company has grown in- me has always been a way to gain my indepen- tomer-centric focus and unique balance of hefty payout for that deal, which combined to one of the largest fund managers in the world, dence. I believe that individual liberty is very im- $ strategic insight, operational expertise and tech- MCI's global reach with Verizon's industry-lead- and has diversified to high yield equity, growth portant, and you can't have individual liberty nology and financial knowledge, he is a strong ing fiber-optic technology. and international funds, while also managing without economic freedom. Wealth has been a $ asset to Cisco's board." Verizon bought MCI to gain access to MCI's both straight and corporate bond debt. byproduct of my passion for what I do. Real suc- Capellas, 51, joins a high-power team at Cis- corporate clients and a 98,000-mile network for The Calamos Investments portfolio has in- cess is having a passion for what you do and $ co. Cisco's board now consists of 12 members, to delivering Internet access in 140 countries. The cluded such names as Apple, Google, eBay and working very, very hard - which I've done.” include Carol A. Bartz, chairman and CEO of purchase also helps Verizon keep up with Motorola, while managing more than $40 billion Success wasn't a given for the Greek Ameri- $ Autodesk; M. Michele Burns, former CFO, Mi- AT&T, created through the $16.5 billion merger in assets. Since Calamos Asset Management rant Corporation; Larry R. Carter, senior vice of SBC Communications and AT&T this past went public in 2004, close to one million people Continued on page 10 $ president, Cisco Systems; John T. Chambers, November (SBC's purchase of AT&T turned the have listened to Mr. Calamos' call new AT&T into the largest U.S. and become his shareholders. $ telephone carrier). “We have had a long period of "This milestone for Verizon successful investments for our $ creates a new competitive force clients,” Mr. Calamos, 66, told the with the power of the global MCI National Herald in an interview $ network and the reach of Veri- last week, held during a short zon's broadband and wireless net- break from a busy morning. works in the country. Our strategy “We have focused on provid- $ is to be a customer-focused leader ing our clients with the highest in consumer broadband and risk-adjusted returns, over many, $ video, as well as business and gov- many years and over many, many ernment services, in both the market cycles. This means that $ landline and wireless environ- our performance has come in pre- ments," said Verizon chairman serving capital even during the $ and CEO Ivan Seidenberg. more difficult stages, the down- "Michael's work in transform- turns of the market. We're proud $ ing MCI over these past few years of that history,” he added. has been extraordinary. He has When it comes to investments $ been a great leader, and he leaves and mutual funds, however, ad- a legacy as an architect of one of justing risk does not preclude risk $ the world's great, next-generation taking, Mr. Calamos said: “We've communications companies - a always had a history of looking at $ strong competitive force focused different opportunities in the on customer innovation," Seiden- market place, and we have been $ berg added. very innovative in providing addi- Following the merger, Veri- tional, more opportunistic invest- zon, which continues to be based ment strategies.” $ in New York, has approximately Today, Calamos Investments $90 billion in annual total consoli- offers a diverse strategies to a va- $ dated operating revenues and ap- riety of investors in the United States, Europe and other parts of John Calamos $ Michael Capellas Continued on page 11 2 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006

50 Wealthiest Greeks in the United States 2006

NAME/RANK WORTH INDUSTRY COMPANY 2005 Ranking 1. Peter M. Nicholas 3.5 Billion Biomedical Industry Boston Scientific No1 2. George Phydias Mitchell 2.5 Billion Oil, Real Estate Mitchell Energy and Development No2 3. John P. Calamos 2.1 Billion Investments Calamos Investments No. 19 4. George Leon Argyros 1.3 Billion Land Development, Real Estate Arnel Development Co. No. 3 5. Alexander Gus Spanos 1.1 Billion Real Estate, Sports A.G. Spanos Companies No. 4 6. John Catsimatidis 850 Million Oil, Food, Real Estate, Aviation Red Apple Group No. 6 7. Michael Jaharis 800 Million Biomedical Industry KOS Pharmaceuticals No. 7 8. Peter G. Peterson 750 Million Investments The Blackstone Group No. 8 9. Theodore Leonsis 740 Million Internet, Sports AOL, Washington Capitals No. 5 10. Angelo Tsakopoulos 650 Million Land Development, Real Estate AKT Development No. 16 11. Steve Valiotis 630 Million Real Estate Alma Realty No. 10 12. George Behrakis 500 Million Biomedical Industry Gainesborough No. 11 13. Peter Georgiopoulos 450 Million Crude Oil/Cole Transportation General Maritime Corporation, GENCO Shipping & Trading No. 34 14. George Andreas 415 Million Art, Real Estate N/A No. 15 15. Kostas and Tom Kartsotis 400 Million (combined) Watches, Leather Accessories Fossil Inc. No. 12 16. George M. Marcus 399 Million Real Estate Marcus & Millichap Co. No. 13 17. Stratton Sclavos 380 Million Internet, Telecommunications VeriSign No. 17 18. Louis Katopodis 350 Million Food Industry Fiesta Mart No. 18 19. John Payiavlas 310 Million Food Industry AVI Foods No. 20 20. John Veronis 309 Million Publishing, Media Veronis Suhler Stevenson Partners No. 26 21. D. James Bidzos 305 Million Internet, Telecommunications VeriSign No. 21 22. Michael Capellas 300 Million Technology Executive Cisco Systems Inc., formerly of MCI Worldcom No. 46 23. Peter Angelos 299 Million Personal Injury Lawyer, Sports Angelos Law, Baltimore Orioles No. 22 24. William Stavropoulos 270 Million Technology Executive DOW Chemical No. 23 25. Peter Dion 260 Million Real Estate Yarmouth/ Dion No. 24 26. Konstantinos Stengos 250 Million Construction, Hotels/Resorts Technical Olympic USA No. 25 27. John Rangos 249 Million Waste Management (retired) Chambers Development Corp. No. 27 28. James T. Demetriades 240 Million Computer Software See Beyond Technology Co. No. 28 29. John Papajohn 225 Million Financial Consulting Papajohn Capital Resources, Equity Dynamics No. 38 30. George Perlegos 224 Million Electronics ATMEL No. 30 31. Pete Karmanos Jr. 210 Million Computer Software Compuware No. 29 32. C. Dean Metropoulos 200 Million Food Industry Metropoulos & Co. No. 32 33. Demoulas family (combined) 200 Million Food Industry Demoulas Supermarkets No. 9 34. Michael Kalogris 160 Million Wireless Communications Executive Suncom Wireless Holdings No. 36 35. Constantine Macricostas 150 Million Photomasks, Information Technology Photronics Inc. No. 33 36. P. Roy Vagelos 149 Million Biomedical Industry Executive Regeneron, Theravance No. 14 37. Jennifer Aniston 148 Million Actress, Producer N/A No. 40 38. Emmanuel Kampouris 145 Million Supply Chain Management Click Commerce No. 37 39. Harry J. Pappas 110 Million Telecommunications Pappas Telecasting No. 40 40. William J. Catacosinos 109 Million Energy Executive TNP Enterprises, International Coal No. 43 41. Rita Wilson 105 million Actress, Producer N/A No. 35 42. Pete Sampras 100 Million Tennis Pro (retired) N/A No. 45 43. George Hatsopoulos 99 Million Engineer, Technology Executive Pharos LLC No. 44 44. Nicholas S. Gouletas 90 Million Real Estate American Invisco N/A 45. John Paterakis 80 million Food Industry, Real Estate H&S Bakery No. 49 46. Chris and Harris Pappas 79 Million (combined) Food Industry Pappas Restaurants No. 47 47. Nicholas Bouras 50 Million Steel Construction Bouras Industries N/A 48. Mike Angeliades 49 Million Construction M.A. Angeliades N/A 49. Soteris Fassoulis 48 Million Military Technology CIC International N/A 50. Todd Demakos 45 Million Clothing St. Eve International N/A

°È· ÚÔÛˆÈÎ‹ ÂÍ˘ËÚ¤ÙËÛË Î·È ÙÈ˜ ¯·ÌËÏﬁÙÂÚÂ˜ ÙÈÌ¤˜ ÂÈÎÔÈÓˆÓ‹ÛÙÂ ÌÂ ÙËÓ ª∞ƒÿ∞ ∞§∂•Ÿ¶√À§√À Î·È ÙÔÓ ¢∏ª◊∆ƒπ√ ª∂ƒπ™™H ªπ§Õª∂ ∂§§∏¡π∫Õ (631) 271-7177 945 East Jericho Tpk, Huntington Station, NY 11746 PETROPOLE Insurance Agency

Call us for free information and details about your insurances.

We provide special prices with perfect service!

PETROPOLE INSURANCE AGENCY 8601 4th Ave., (corner of 86th Street) Brooklyn, NY 11209 Tel.: (718) 680-3777

Fax: (718) 680-3700 b 1-800-273-4113 a

43 years of community service at your disposal THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 3

No. 1 No. 7 Peter Nicholas Michael Jaharis Biomedical Industry Biomedical Industry

Chairman and Co-founder of Boston Scientific Corporation. He is 64 Director of KOS Pharmaceuticals, KOSP. He is married with three years old, married with three children. Last month, Boston Scientific children and lives in New York City. He is the son of Greek acquired fellow medical device company Guidant Corporation, GDT of immigrants. He co-founded KOS Pharmaceuticals in 1988 naming it Massachusets for $27 billion, after outbidding health care mogul after the Greek island where Hippocrates founded the science of Johnson & Johnson. Boston Scientific is a manufacturer of a wide range medicine. KOS develops prescription pharmaceuticals for the of products for minimally invasive surgery, including catheters, stents treatment of chronic cardiovascular and respiratory diseases, like and balloons. Along with his wife Virginia, Nicholas has made a series the FDA-approved cholesterol-fighting drug Niaspan. The company of large donations mainly to educational causes, including a stunning is currently researching a medical device of inhaled insulin. $72 million pledge to Duke University, in Durham, N.C., the largest Benefactor of the Metropolitan Museum of Art. Donated $10 charitable contribution in that institution's history. Nicholas founded Boston Scientific in 1979, after meeting million to Tufts University, where his son Steven studied Medicine, co-founder scientist John Abele at a kids soccer game. Forbes has reported however, that the FDA's recent to establish the $60 million Jaharis Family Center for Biomedical recall of the company's malfunctioning stents has decreased the two partners' combined fortune. and Nutrition Sciences.

No. 2 No. 8 George Phydias Mitchell Peter Peterson Oil, Real Estate Investments

Chairman & Chief Executive of Mitchell Energy and Development. He Chairman and Co-founder of The Blackstone Group. Blackstone is one of the country's biggest private is 86 years old, is married and has 10 children. He served in the United investment firms with holdings in Boston, NY, San Francisco and Washington, D.C. Peterson is 80 years old, States Army Corps of Engineers in World War II. The son of a Greek married with five children. He was known as the “economic Kissinger” for his successful service in the Nixon goatherd, Mitchell grew up in the immigrant neighborhood of administration as Secretary of Commerce. BG's investment funds generate $70-$80 million per year. Galveston, Texas in the building that housed his father's dry-cleaning Peterson lectures and speaks on television frequently about issues of fiscal responsibility. shop. He made it big by striking one of the biggest gas strikes in Texas industry history. He owns over 20 hotels and private buildings. He has opposed oil drilling in the Alaska wildlife refuge and has funded a $10 million National Academies study on sustainable development and population growth. Credit Card Processing

No. 3 John Calamos, Sr. Investments

Calamos is the Chairman and CEO of Calamos Investments, which he runs along with his nephew Nick and his son John Jr. The company provides money management services to major corporations, institutions, pension funds, insurance companies and individuals. It went public in 2004. Calamos worked in his family's grocery on the west side of Chicago and developed his passion for the stock market as a teenager after investing his parents' $5,000 nest egg. He served as a combat pilot in Vietnam and earned the rank of Major after earning his MBA from the Illinois Institute of Technology in 1965. He first started an investment advisory firm in 1977. According to Forbes, the assets under his company's management are up 750 percent in the past five years, reaching $41 billion.

No. 4 George Leon Argyros Land Development, Real Estate

He is CEO of Arnel Development Company. He is 69, married with 3 children. He was born in Detroit to Greek immigrants. At 14 he worked as a box boy at a grocery store. Arnel manages apartments and develops commercial property in southern California. He served as Ambassador to Spain in 2001 by President Bush after leading GOP fundraising efforts in California in 2000. He also served on the Federal Home Loan Mortgage Corporation under the President's father. He lives in a $4.5 million estate on Harbor Island in Newport Bay, CA. Faster Transactions at Competitive Rates. At Atlantic Bank, you’ll find the full menu of payment

No. 5 options to satisfy your customers - served up at a Alexander Spanos competitive rate to satisfy you. Offered through our Real Estate, Sports The Best partnership with Paymentech, the nation’s leading provider of payment services, we offer everything your The founder and Chairman of A.G. Spanos Companies is 83 Credit Card establishment needs to process transactions - from fast, years old, married with 4 children reliable authorizations, to accurate, timely payments, all and lives in Stockton, CA. He started his business career in the the while backed by an unmatched focus on service. catering business and went into real estate later. His company is Processing the largest family-owned Lower your costs with our competitive rates and construction and property management company in the smart technology. nation. It builds, manages and Solution for sells multi-family housing units and develops land. It has built more than 80,000 units in 18 states, most Satisfy your customers with a full buffet of recently a state-of-the-art six-story office building in California's San Joaquin County. As for his sports activities, Spanos handed over the Restaurants payment options, including debit and gift card presidency of the Seattle Chargers to his sons Dean and Michael in 1994. As the team's owner however, he has pledged $200 million for a processing. new stadium. Spanos has been one of the largest individual contributors of President Bush. Access the answers you need from our live helpdesk 24 hours a day, 365 days a year. No. 6

John Catsimatidis Call Nikos Kostakos or Andrew de Soiza Oil, Food, Real Estate, today and start saving. Aviation

Chairman & CEO of The Red Apple Group. He is 56, married and the father of two young 212-714-7595 children. Red Apple has holdings in oil refining, retail petroleum products, convenience stores, supermarkets, real estate and aviation. Catsimatidis' parents Member FDIC came to the U.S. from the small Atlantic Bank of New York Greek island of Nissiros, while he was still an infant. He grew up in New Equal Opportunity Lender York City. He is a certified jet pilot. Red Apple generated $3 billion www.abny.com during 2005. Catsimatidis was made donations towards Alzheimer's and Parkinson's research. His wife Margo works in the advertising industry. 4 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006

No. 9 No. 10 No. 11 Ted Leonsis Angelo Tsakopoulos Efstathios Valiotis Internet, Sports Land Development, Real Estate Real Estate Vice-Chairman of America Owner of Alma Realty Co. Alma Online, AOL/Owner of the Chairman and CEO of AKT Realty is based in Astoria, Washington Capitals Development Corporation. He is Queens. Valiotis is 54 years old, (NHL)/Minority shareholder of married, has six children and lives is married and has three Washington Wizards (NBA). He in Sacramento, CA. He first came children. He was born in the is known as AOL's “champion of to the U.S. from Greece at age 24 village of Vordonia in Sparta the member.” He has worked and has since earned himself a and studied to become a priest with Apple Computer Company reputation as one of the largest in Athens. He came to the U.S. on the introduction of the landowners and developers in at age 26 and worked in the food Macintosh, with IBM on the PC Northern California. His children and furniture industries before launch and with Wang on office automation. He was once the mayor of Elena and Kyriakos are venturing into real estate. In the Orchid, FL. He sits on the board of several charities and of Georgetown benefactors of Georgetown and past year he began building University. Columbia Universities for the villages in New Jersey and establishment of Hellenic Studies Brooklyn. Chairs.

No. 12 No. 13 George Behrakis Peter Georgiopoulos Biomedical Industry Crude Oil/Cole Transportation

He is President and CEO of Muro Pharmaceutical and Founder, Chairman and CEO of General Maritime Corporation and Chairman of Gainesborough Investments. He is married with of Genco Shipping & Trading. Genco Shipping transports dry cargo four children and lives in North Tewksbury, MA. He is a such as coal as well as steel products, through a fleet of about 15 member of the Executive Committee of the Board of Trustees oceangoing dry bulk carriers. Georgiopoulos began working for ship- of the Greek Orthodox Archdiocese. Muro is a manufacturer of owners in New York and Piraeus, Greece. He founded General asthma, allergy and respiratory products. Behrakis donated $8 Maritime in 1997. GM is now the second largest owner of mid-size million toward the construction of the Behrakis Health Sciences tankers in the world, with 47 ships transferring crude oil in South and Center, the largest private donation in the history of Central America, theU.S., Western Africa, the Mediterranean and the Northeastern University. Black Sea. He is 42, single and lives in a townhouse in Manhattan's Greenwich Village, which was featured in the Emmy-award-winning series “Angels in America.”

No. 14 No. 15 No. 16 George Andreas Kartsotis Kosta, Kartsotis Tom George Marcus Art, Real Estate Watches, Leather Accessories Real Estate

A painter and investor in real Kostas Kartsotis is 51 years old. Tom Kartsotis is 45. They are CEO Chairman of The Marcus & estate among other industries, he and President of Fossil Inc., respectively. Fossil is based in Richardson, Millichap Company and Essex is 68 and married to fellow-artist Texas and operates factories in China, Switzerland and France. It sells Property Trust, Inc. He came to Ursula. His family fled to the products in more than 90 countries around the world. Since October a San Francisco from Greece at mountains from Nazi-occupied new line of Fossil wrist-watches is being sold in 550 Walmart stores age four. He completed an Athens. Before studying at the across the country. In 2005, Fossil also announced deals with Diesel undergraduate degree in National Military Academy in and Guess. The company was named after the favorite 1950s-style economics in just two and a half Athens and the University of retro watch of the Kartsotises' father “The Fossil.” It started out with years and founded San Francisco Thessaloniki, he was an retro watches but has since diversified in sunglasses, leather goods and State University's first economics apprenticeship to Greek artist jewelry. club. The Marcus & Millichap Constantine Artemis. He went to Company is a national commercial real estate brokerage, investment New York to work as an artist in and development company. Marcus helped develop the San Francisco 1967. His studio is located in State Greek Studies program, and chairs the Modern Greek Studies Middleburg, VA. Foundation, which supports the Nikos Kazantzakis Chair for Modern Greek Studies.

Journey to Greece with the AHEPA

Greece and the University of Indianapolis-Athens Campus

to This summer, study for one month at the only accredited American University in Greece completely owned and controlled by a home campus in the U.S., learn about modern and ancient Greece. See and experience the beauty of the country and its people and earn six transferable university credits.

July 20 to August 20, 2006 ñ Six Transferable University Credits ñ University of Indianapolis-Athens Campus: Only Accredited American University in Greece ñ Eligibility: Students must be a minimum age of 17 and in their last year of high school or within their first two years of college.

- Application Deadline: May 1, 2006

Visit www.ahepa.org for a brochure, application, and more information Journey THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 5

RED APPLE GROUP 100 Years of Serving AA MM EE RR II CC AA

UNITED REFINING 1902 - 2006

GRISTEDES' FOODS 1888 - 2006 b a

John Catsimatidis, Chairman & CEO 6 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006

No. 17 No. 18 No. 19 Stratton Sclavos Louis Katopodis John Payiavlas Computer/Cellular Technology Executive Food Industry Food Industry

Chairman and CEO of VeriSign, Inc. At 43 years of age, CEO and President of the grocery President of AVI Food Systems. AVI is Sclavos, is involved apart from Verisign in the board of chain Fiesta Mart. Fiesta Mart is a the country's largest independent, directors of Salesforce.com, Intuit and Juniper Networks, a $1 billion-a-year company, which family-owned contract food service networking-equipment company. He is married and lives in sells ethnic and conventional company providing vending, Mountain View, CA. He is 6 feet tall and plays in three groceries in Texas, primarily to institutional-dining and coffee-services basketball leagues. Verisign was created by fellow-Greek the State's Mexican and Asian- operations. Payiavlas runs the company American Jim Bidzos. Sclavos joined the company in 1995. American consumer audience. along with his son Anthony and his Verisign is the world's largest seller of Internet security daughter Patrice. AVI has more than 50 software, securing billions of online transactions every day. branch offices in the Midwest and He served along 30 technology experts on President Bush's Eastern United States and reaches $2 National Security Telecommunications Advisory billion in sales annually. Payiavlas is one Committee, advising him on the implementation of national of the founders of the Greek Orthodox security and emergency preparedness policy for the Archdiocesan Leadership 100 communications industry. Endowment for Orthodoxy & Hellenism Fund.

No. 20 No. 21 John Veronis D. James Bidzos Publishing, Media Computer Technology Executive

Chairman and Co-CEO of Veronis Suhler Stevenson Partners. Bidzos is the founder and Vice-Chairman of the Veronis Suhler Stevenson Partners is a NY financial services firm in Board of Verisign. He is 49 and single. He was media, publishing and communications. It invests in media born in Greece and came to the U.S. as a boy. His properties and its activities range from books, radio and TV father worked as a barber, and his mother broadcasting to magazines and educational films. Veronis created managed a restaurant. Bidzos is a former the firm in 1981 with media veteran John Suhler, former head of computer programmer. He is credited with single- CBS Publishing. Previously, “Book Digest” magazine had grown to handedly foreseeing the Internet boom and the a 1 million circulation under Veronis' direction. He is a Director of subsequent need for online security in the early the Metropolitan Opera and a Trustee of the Carnegie Hall. 1990s. Verisign is the world's largest seller of Internet security software.

No. 22 No. 23 No. 24 Michael Capellas Peter Angelos William Stavropoulos Technology Executive Personal Injury Technology Executive Lawyer, Sports Chairman of Dow Chemical Member of the Board of Directors of Cisco Company. Stavropoulos will be Systems Inc. He is the former President and He is Chairman and stepping down from Dow this CEO of MCI, who was bought out by CEO of the April. He will be replaced by Verizon Communications last month. Baltimore Orioles fellow Greek Antonis Liveris Capellas was appointed on the board of and director of Peter on Dow's chair of the board of directors of the California-based network G. Angelos Law directors. He was raised in equipment maker Cisco in January, soon Offices. He is 76, Brooklyn, NY. His Greek after MCI was acquired by Verizon married and has two immigrant father owned a Communications. After the MCI transfer sons. He first coffee and confectionery store, was completed, Capellas was expected to became known for where he worked as a boy. receive a $40 million severance package. representing Stavropoulos also serves on the Capellas, 51, joined MCI in 2002 as the workers in class- board of American Enterprise company - the former WorldCom - was in bankruptcy and working to overcome a action suits against Philip Morris, Motorola and the Institute for Public Policy massive accounting scandal. He grew up in Warren, Ohio and lived abroad during tobacco industry. Research. his childhood. He is married with two children. He likes golf and rock and roll.

GLOBAL CITY ENTERPRISES

• GLOBAL CITY REALTY, INC. • GLOBAL CITY BUILDING DESIGN • GLOBAL CITY BUILDING CONSTRUCTION • GLOBAL CITY BUILDING MANAGEMENT • GLOBAL CITY FINANCIAL SERVICES • GLOBAL CITY GENERAL INSURANCE

To design, build, finance, insure, manage, rent or sell your property call us. Real Estate Financing You Can Build On We are a quality service organization.

At the firm of Truen & Michaels, we have over 65 years of experience in the field of commercial lending specializing in all types of real estate and construction financing. We have build solid relationships with over 50 lending institutions giving us first hand knowledge of the most competitive rates and loan programs available throughout the bank industry and private sector lending. We hope you will put us to work to help you and your business to achieve the best possible financing for your needs. GEORGE C. KITSIOS PRESIDENT

Multifamily Construction Restaurants Mixed Use Poor Credit Land Industrial/Warehouses Retail Properties Car Wash/Gas Stations Hotels/Motels Office Properties Business Loans

35-10 Broadway Suite 207 Astoria, NY 11106

10 Cutter Mill Road, Great Neck, NY 11021 b Call our office at 516-466-9551• Fax: 516-829-3018 Tel.: (718) 932-4097 Fax: (718) 932-4609

Cell # for John Michaels is 917-560-0098, Cell # for Craig Truen is 516-644-0484 a THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 7

No. 25 No. 26 No. 27 Peter Dion Konstantinos Stengos John Rangos Real Estate Construction, Hotels/Resorts Waste Management (retired)

President of Yarmouth/Dion. He Chairman, Managing Director of Technical Former Chairman of Chambers Development Co. He was born in Greece. Dion is one Olympic Group, which includes Technical is 76 and a decorated Veteran of the Korean War, of the founding members of Olympic USA. Technical Olympic USA has where he served in a combat signal team. His Greek Leadership 100 and an Archon of been on the Forbes list of the Best Big father was a restaurant owner. Rangos was born in the Patriarchate. He first became Companies in America for three years. The Ohio and raised by his mother and grandfather in successful in the fur industry with company is a leading homebuilder and financial Virginia. He started in business in the transportation famous clients like former First services company operating in Florida, the Mid- and disposal of industrial wastes. He founded Lady Nancy Reagan. Atlantic, Texas, and the West. It designs, builds, and markets high-quality detached Chambers Development Corporation in 1971, a single-family residences and town homes, under Engle Homes, Newmark Homes, company that provides waste treatment services and Fedrick, Harris Estate Homes and Trophy Homes, among other brand names. develops commercial recycling programs. He currently Technical Olympic Group also includes Technical Olympic S.A. one of the largest heads the John G. Rangos Sr. Charitable Foundation, corporate groups in Greece and the Balkans with activities in construction, which funds children's cancer research, the Medal of Honor Foundation, and the American homebuilding and tourist services. The company owns and runs the Porto Carras Hellenic Information and Communications Group. Rangos is the founding chairman and Complex, the largest tourist resort in Greece. honorary lifetime president of the International Orthodox Christian Charities, IOCC.

No. 28 No. 29 James Demetriades John Papajohn Computer Software Financial Consulting

He is the founder and CEO of President of Equity Dynamics, Inc. and of Pappajohn Capital Resources, where he is also the sole owner. SeeBeyond Technology Corp. He Equity Dynamics is a financial consulting entity; Papajohn Capital Resources is a venture capital firm. was raised in a family of scientists Papajohn first came from Greece to the United States when he was 9 months old. After his father's death, he and wrote his first software had to work to pay for his college tuition. He graduated in 6 years. Throughout his career, he has established program at age 9. He started his dozens of investment firms, dedicated to advancing biotechnology innovations. He is 78 and has one scientific work at CalTech daughter with his wife Mary. His charitable donations include the John and Mary Pappajohn Clinical Cancer University at age 11. He Center and the John Pappajohn Entrepreneurial Centers at five Iowa universities and colleges, a program participates in competitive yacht that has launched new companies. In 2005, the Papajohn Scholarship Foundation distributed $366.500 in races. funds, in support of ethcnic, disadvantaged and/or minority students. Included were grants to 32 college students, whose parents were members of St. George Greek Orthodox Church in Des Moines, Iowa and the Transfiguration Church in Mason City, Iowa as well as a grant to the Hellenic College.

No. 30 No. 31 No. 32 No. 33 George Perlegos Pete Karmanos C. Dean Metropoulos Demoulas Family Electronics Computer Software Food Industry Food Industry

President and CEO of Atmel Chairman and CEO of Chairman and CEO of Pinnacle The family owns Demoulas Su- Corporation. He was born in the Compuware Corporation. Foods Group. Metropoulos per Markets Inc., which runs more Greek town of Tripolis, in the Karmanos' father owned a diner, heads Pinnacle Foods Group than 60 grocery stores throughout Peloponnese. His family came to where as a young boy he ran the (formerly Aurora Foods) a firm New England and also has real es- the United States while Perlegos cash register. Compuware is based based in Cherry Hill, NJ, which tate interests. In 1954 brothers Ge- was 12 years old. He is 44 years in Farmington Hills, MI. It is a produces grocery store staples orge and Telemachus “Mike” De- old, married with children. In billion-dollar company providing such as frozen seafood Mrs. moulas bought their parents' gro- 1984 he founded ATMEL, a software and IT services to 90% of Paul's and the frozen pizza cery to soon turn it into one of the global leader in the development Fortune 100 companies. Karmanos Celeste. The company buys well- biggest family businesses in the and fabrication of advanced is an avid hockey fan, is involved in known brands and then expands world. semiconductor solutions with professional teams, while also their lines by adding new numerous applications including sponsoring youth hockey programs products. the computer/network industry, in Michigan. He is remarried and telecommunications, and the aerospace and military industries. His has three sons to deceased wife elder brother Gust Perlegos is ATMEL's Vice President and Director. Barbara Ann. In her memory he donates to cancer research. 8 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006

No. 34 No. 35 No. 36 Michael Kalogris Constantine Macricostas P. Roy Vagelos Wireless Communications Executive Photomasks, Information Technology Biomedical Industry Executive

Director of SuncomWireless Holdings Inc. Kalogris CEO of Photronics, Inc and of RagingWire Former Chairman and CEO of pharmaceutical giant Merck & Co., recently received an extension of his tenure at Suncom Telecommunications Inc. He is 70, married with Inc. Also involved in Regeneron Pharmaceuticals, Inc. and until 2010. His annual salary is $500,000. He has been two sons. Photronics is the world's leading supplier Theravance. He is married and has four children. He has authored CEO in three companies since 1988. As former Chairman of reticles and photomasks and operates ten the memoir “Medicine, Science, and Merck,” which was published of Triton Cellular Partners aaahe supervised the selling manufacturing facilities worldwide. RagingWire by Cambridge University Press in 2004. A native of Westfield, N.J. of the company's assets in 2000 for $1.24 billion. He was provides large companies with information Vagelos led pharmaceutical giant Merck & Co. during its most also the former President and CEO of Horizon Cellular technology and infrastructure solutions. successful years and left it before the Vioxx scandal broke out. Group, formerly the fifth-largest independent cellular Macricostas' family hails from Asia Minor. He grew During his leadership of the company he was dubbed “King of the company in the country. He is a member of the board of up in Pireaus, where he worked as a street milk Medical Molecule Makers.” Under Vagelos, Merck developed the directors of Cellular Telecommunications and Internet merchant at the age of 7. The Macricostas Family cholesterol-lowering agents Mevacor and Zocor. Today, Vagelos Association and a member of the Public Policy Council Foundation funds Hellenic Studies University lectures frequently and Chairs the Board of Trustees of the and Fraud Task Force. programs across the U.S. University of Pennsylvania.

No. 37 No. 38 No. 39 Jennifer Aniston Emmanuel Kampouris Harry Pappas Actress, Producer Supply Chain Management Tellecommunications Chairman, CEO of Pappas America's Sweetheart once lived Director of Click Commerce Inc. Telecasting Companies. Pappas in Crete and Athens as Jennifer Click Commerce is a leading Telecasting remains the largest Anastassakis. She turned 36 after provider in supply-chain privately held, commercial television her divorce from actor Brad Pitt. management solutions for broadcast group in the entire United Her recent films “Derailed” and companies such as Citibank, States, operating FOX, WB, ABC, “Rumor Has It” have not Microsoft and Verizon. CBS, UPN and Azteca America established her as a major movie Kampouris is 70 years old. He affiliates in over 15% of U.S. star but her participation in more was formerly a CEO of American households. Pappas' parents than six upcoming Hollywood Standard, a global provider of immigrated from the island of Crete projects as either producer or bath products, air conditioning before he was born. His father worked in the coalmines of Utah and actress and the announcement of another three to go in production in and vehicle control systems. He is later moved to San Joaquin Valley, CA where Pappas was born. He led 2006, have certainly raised her financial status. on the Board of the National his elder twin brothers Pete and Mike in opening their first TV station Endowment for Democracy. in the 1970s and gradually built an empire. He is 60 years old, married with one son.

No. 40 No. 41 No. 42 William Catacosinos Rita Wilson Pete Sampras Energy Executive Actress, Producer Tennis Professional (retired) Chairman, President and CEO of Texas-New Mexico Power She is 47 and married to Enterprises/ Member of the Board of Directors of International Coal superstar Tom Hanks, with The 35 year-old Sampras' Group. His Greek father was a grocer. Catacosinos served in the U.S. whom she has two children. legacy is still evident in Navy from 1953 to 1956. TNP Enterprises transmits and distributes She was born Margarita professional tennis. Swiss electricity to 250,000 customers in Texas and New Mexico. He is the Ibrahimoff, to a Bulgarian super star Roger Federer, who former chairman of the Long Island Lighting Co, which built the father and a Greek mother. In won his seventh grand slam in controversial Shoreham Nuclear Power Plant in Long Island. The the past year, Wilson has only the Australian Open last factory closed in the early 1990s. International Coal Group owns Sago been seen in the independent month, is only half-way toward Mine in West Virginia, where 12 miners were killed last month in an film “The Chumscrubber” but equaling Sampras' all-time accident. her role in the success of “My record of 14 grand slam titles. Big Fat Greek Wedding” as The so-called “King of Swing” producer, and her marriage to had won a stunning total of 64 Hanks may have earned her a Career titles. spot on this list for many years to come.

Eagle Iron Works Corp. 584 Dean Street, Brooklyn, NY 11238

Tel.: 718-230-4032 Fax: 718-230-1598 ALLIANCE MORTGAGE BANKING, CORP. 3601 Hempstead Tpk, Levittown, NY 11756 Mortgages are our Business

30 Years Fixed 15 Years Fixed

6.250% 0% points 5.875% 0% points 6.388% APR 6.005% APR Frames ñ Commercial/Residential 5-6 Stories ($6.16 cost per thousand) ($8.24 cost per thousand) Steel Frames ñ Staircases Window Guards ñ Welding Rates quoted are based upon a $185,000 loan amount, 1- 4 family owner occupied properties with a 20% downpayment. Lower down payments are available with higher Apr’s. All Rates based on a 30 day rate lock period subject to credit approval and may change without notice.

For more information please call PETER ª∞R∫√U or ¡πLOO PELARIN (516) 520-4100 ôö LICENSED MORTGAGE BANKERS ôö îï

No. 43 No. 44 George Hatsopoulos Nicholas Gouletas Engineer, Technology Executive Real Estate

CEO of Pharos LLC and American Distributed Owner of American Invisco. Gouletas is a Chicago Real Generation Inc. He is the founder and former CEO of Estate Hall of Fame inductee. American Invisco has Thermo Electron Corporation, which manufactured and developed, marketed and managed over 40,000 -mostly sold cogeneration and cooling equipment. In 2000, he luxury- condominiums in more than 40 cities across the established Pharos LLC, a company, which creates business country, with property values in excess of $4 billion. The ventures. He received a Bachelors degree from the company has 250 full-time employees in its Chicago National Technical University of Athens and a PhD. from Headquarters and 284 worldwide. Gouletas came to the MIT in mechanical engineering. He has authored several United States from Greece with his poor immigrant parents textbooks in Thermodynamics and Thermionic Energy in 1944. He funded AI at age 31 primarily as a real estate Conversion. Today, he chairs MIT's Department of Civil brokerage firm. His son, Steven, is the company's president. and Environmental Engineering Committee. He served as Chairman on the Federal Reserve Bank of Boston.

No. 45 No. 46 No. 47 John Paterakis Pappas, Harris Nicholas Bouras Food Industry, Pappas, Chris Steel Construction Real Estate Food Industry President of H&S Bakery, Owners of the Pappas restaurant Owner of Bouras Industries. Bouras Industries manufactures steel Inc./Real Estate Investments. chain. The Pappases' construction products through Nicholas Bouras Inc. and United Steel He is 74 years old. The $1- grandfather came to the U.S. in Deck Inc. among other brand names. The company's revenues in 2005 billion empire H&S bakes 1897 and opened restaurants increased to $227 million, from $166 million in 2004. Bouras started buns for the fast-food first in Tennessee, then in out 30 years ago as a sales agent in bar joists, steel deck and structural industry, as well as English Arkansas and Texas. His steel sales. He opened United Steel Deck in 1968 and turned it into a muffins, bagels and rolls. The children then ventured full line of roof deck and siding products. He is Executive Vice company was named after the successfully in the restaurant President of the Archons National Council and treasurer of the initials of its founders, Greek equipment and supply business. Archdiocesan Council. immigrants Harry Tsakalos Brothers Harris and Chris are and Isidore “Steve” Paterakis, nephews of former owner Harris and is still run by family PHOTO BY BALTIMORE MAGAZINE Pappas, who passed away in members. Paterakis is also one of December. They own restaurants the biggest real-estate developers in the Baltimore area and often funds around Houston, Dallas, Austin, his projects with money from H&S. San Antonio, Beaumont, Atlanta, Chicago, Denver and Phoenix.

No. 48 No. 49 No. 50 Mike Angeliades Soteris Fassoulis Todd Demakos Construction Military Technology Clothing

Owner of M.A. Angeliades Inc. Chairman and CEO of CIC International. Soteris “Sonny” Fassoulis CEO of St. Eve International, a manufacturer of women's and M.A. Angeliades is one of New operates CIC with his sons. The company makes military equipment children's undergarments and sleepwear. The company is based in York's largest construction such as night-vision systems, helicopter parts, munitions, and aerospace Manhattan. Demakos founded the company in 1976. Today, it sells companies. Angeliades started components for governments and defense contractors worldwide. The products to major New York City department stores like out as a shoemaker and a company was created in 1930 by British interests as a silk and fur trader Bloomingdale's and Macy's, and also to JC Penney. carpenter. M.A. Angeliades is and had operations in Shanghai as Commerce International China Inc. based in Long Island and has Over the years, the focus changed to defense contracting. The firm also offices in Manhattan, upgrades weapons systems for the navy and has operated armored Connecticut and New Jersey. Its vehicle production facilities in Philadelphia, Pennsylvania and in current projects include the Honolulu, Hawaii. Courthouse in Mineola, Long Island and the Bronx Zoo Museum, as well as several projects for the NYC Transportation Department.

ANDREAS FRADELAKIS Certified Public Accountant

Tax, Accounting and Financial Services THEN YOU CAN SELECT YOUR OWN ENVIRONMENT, YOUR OWN SCENERY, YOUR OWN ISLAND!

Charter a motor yacht, motor sailer or sailing yacht (for 6 to 50 guests, from 50’ to 200’ and $700 to $20,000 per day to entire yacht with its full crew) from VALEF YACHTS, agents for the largest fleet of crewed yachts for charter in Greece.

IT COSTS NO MORE THAN BEING ON A CRUISE SHIP Office Locations: But 28-41 Steinway Street 69 Main Street ñ You can plan your own itinerary with your own captain Astoria, NY 11103 Port Washington, NY 11050 ñ Your food with your own chef Tel.: (718) 545-6080 Tel.: (516) 767-2490 ñ Your drinks with your own steward, or leave it up to them to... pamper you.

e-mail: [email protected] VALEF YACHTS LTD b International Headquarters: 7254 Fir Rd., P.O.B. 385 Ambler, PA 19002 U.S.A.

a Tel.: (215) 641-1624 ñ (800) 223-3845 ñ Fax: (215) 641-1746 E-mail: [email protected] ñ Website: VALEFYACHTS.com 10 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006 Calamos: “We Have Had a Long Period of Successful Investments for our Clients”

Continued from page 1 family members into it. sents challenges on several fronts. wrong time,” he quipped. “It's been a family business “There is a higher visibility, But being able to adjust to can, however, despite his strong from the beginning. My nephew personally, because of the disclo- changing circumstances may be work ethic from early on in life. (co-CEO Nick Calamos) and I run sures of compensation of personal Mr. Calamos' single most original Born to a Greek family on the west the business. My son (John Jr.) is wealth that are now required of talent, and may also be what side of Chicago, Mr. Calamos also in the business, and my broth- CEO's. But that's what you have to keeps him going in today's con- spent his childhood stocking er was in the business at some put up with. We've come through a stantly shifting corporate environ- shelves and delivering groceries point,” he told the Herald. “In that lot of the inquiries and scrutiny ment, adding that he has no plans for the family business, a neigh- sense, I do view it as an extension without any issues, and we're to retire any time soon. borhood grocery store. of the old grocery store. Fortu- proud of that,” he said. “I don't plan on retiring. Tak- “The store was on the first floor ing the company going public of the building, and we lived up on over a year ago has presented a the second floor,” he recalled. new challenge,” he said. “My brother, my sister and I spent “The really interesting thing a lot of time helping out and doing about my work is that, every year, chores. The store was open from there are increasing challenges. John Calamos Sr., middle, CEO of Calamos Investments, runs his eight o'clock in the morning to 10 We are now venturing into global company along with nephew and co-CEO Nick Calamos, right, and son o'clock at night - Saturdays and markets, and that's really exciting John Calamos Jr., left. “This is a family business,” Mr. Calamos said Sundays, too. We never had a fam- and interesting to me. What I do about the company, which manages $40 billion in assets. ily vacation.” hope is to be able to have a little This background may have better balance in my life and start their families back home. My par- the turn of the century and be- been the reason behind Mr. taking some more time off; but no, ents taught me to value my back- yond. I look at the Museum as Calamos' work ethic and his drive. I have no desire to retire.” ground. They instilled in me a hopefully becoming the memory The boy who delivered groceries The excitement for Mr. Calam- pride for our heritage. In Chicago, of that history for the next genera- was apparently making big plans os does not only come through the there was a great Greek culture at tion.” for what to do with his life. He be- pursuit of “global” challenges. came the first of his siblings to at- Through his firm, he said, he has tend college, but his career after been able to apply his investment that did not take the middle road. skills to a small-time cause which Armed with a master's degree is very close to his heart: the As- in finance from the Illinois Insti- sumption Church in Chicago's tute of Technology - where he west side, his boyhood parish. “I studied on an ROTC scholarship - was very proud in helping a group Mr. Calamos tried out his skills in of Greek Americans restore the an environment where success and old church by managing some of failure were often a matter of life their assets,” he said. “The As- or death. Right after college, Mr. sumption Church used to be one Calamos joined the U.S. Airforce, of the largest in the United States, where he spent a total of 15 years, but because the community in the including a 10-year stint in the neighborhood declined through Vietnam War. the years, a group of people got to- But when he came back home, gether and did a great job at bring- he also went straight back to one ing it to new heights. It looks even

of his old hobbies: investments. TINO better today than it did when I was “When I was flying airplanes in a kid.” the military, my hobby was invest- SCIOR Supporting the Greek Ameri-

ments, and when I came out of the JEFF can community was also behind

Y B military, I flip-flopped. My full- Mr. Calamos' $2 million gift which O time job was investments, and my T he pledged to the Chicago's Hel-

part-time hobby was flying air- PHO lenic Museum and Cultural Cen- planes, which it still is today,” he ter, to be applied towards the con- said. nately, it was much more success- “We really try hard to be in struction of a new facility in Chica- “Flying airplanes was a good di- ful than the grocery store.” compliance with everything that's go's Greektown. version for a while,” he added. “I Running a successful, public part of the landscape today,” he “I hope that the Hellenic Muse- considered it total focus and con- company nonetheless presents dif- added. “But I always find myself in um becomes our memory,” Mr. centration. Getting back into fi- ferent challenges, he said. Mr. a position of defending who I am Calamos told the National Herald. nance was similar in that sense.” Calamos conceded that being a and what I'm doing. When I came “Today, we can't send a child From Humble beginnings… a picture of the Calamos family’s old gro- In order to make his company CEO in a period following a series back home from Vietnam, for ex- across the street without a cell cery store on Chicago’s west side taken in the 1960’s. “My brother, my take off in a market sense, Mr. of embarrassing corporate scan- ample I had to defend who I was phone, but when you think about sister and I spent a lot of time helping out and doing chores,” Mr. John Calamos used an old tried-and- dals (e.g., Enron, WorldCom and when I was there. So I guess I'm al- the generations before us, they Calamos, now a billionaire investment expert, told The National Her- true Greek recipe: He drew his Adelphia Communications) pre- ways in the wrong place at the crossed an ocean and lost ties with ald.

F00T & ANKLE SPECIALISTS & SURGEONS DR. IOANNIS ARAPIDIS, D.P.M. ñ DR. ARGIRIS MANTZOUKAS, D.P.M. Whitestone Securities Inc. 22-52 33rd St., Astoria, NY 11105 ñ Tel.: (718) 777-9380 - Fax: (718) 721-7959 1 Block from Last Stop of N Train, Next to St. Catherine Church ñ Convenient Municipal Parking Nearby 35-01 30th Avenue, Long Island City, New York 11103

214-03 18th Ave., Bayside, NY ñ Tel.: (718) 224-2305 Corner of 18th Ave. and Bell Blvd. Investment Advice ñ Financial Planning SPECIALIZING IN: Estate Planning ñ Retirement Planning ñ Reconstructive foot surgery ñ Foot & ankle trauma Educational Planning ñ Diseases & injuries of the foot ñ Diabetic foot & wound care ñ Bunions ñ Sports medicine ------ñ Hammertoe ñ Arthritis/ankle pain ñ Neuroma ñ Flat feet/high arched feet ñ Ingrown Nails/Warts ñ Pediatric deformities President Vice President ñ Heel pain/spurs ñ Geriatric care ñ Corns/calluses ñ Custom made orthotics DR. ANTHONY DR. JOHN ñ Fungal nails ñ Laser surgery PAPPAS MALINDRETOS ñ House Calls Available by Appointment Tel.: 718-204-7180 Tel.: 718-204-7083 ñ Available 24 Hours/7 Days for Emergencies MOST INSURANCE PLANS ACCEPTED ñ AFFORDABLE AND CONVENIENT CARE b Fax: 718-204-7658 a ARION IMPORTS, INC. IMPORTERS & DISTRIBUTORS W H O L E S A L E 2 1 0 E a s t M e a d o w A v e , E a s t M e a d o w , N Y 1 1 5 5 4 (516) 222-8400 ñ www.labomboniere.com ñ E-mail: [email protected] QUEENS, NY Tel.: (718) 278-0003 ñ Fax: (718) 278-0990 Sophisticated Elegant sales manager MANOLIS ALEXANDRAKIS Handcrafted European Creations EXTRA VIRGIN OLIVE OIL This month’s for the Special Moments In Your Life “ARION” IS YOUR OIL ñ OLIVES S P E C I A L Elegant designs and the latest styles made of the finest BEST CHOICE EXTRA VIRGIN OIL satin, tulle, organza, lace and ribbons in any color of your choice Calamon Bullet Olives Hand made flowers out of porcelain, organza, and satin 1/2 $22 per 26 lbs A big selection of baptistika and christening shoes MEMORIALS Favors for all occasions, crowns & crown cases, ñ Koufeta in all shapes and sizes: PAVLIDES PRODUCTS wedding & baptism candles, and in Greek letters DARK CHOCOLATE big selection of christening clothes, ñ Byzantine crosses gold crosses imported from Greece, gold mati - good luck charms ñ Decorative church replicas ñ Strawberry and cherry and all other accessories for weddings and baptisms ñ Tray Laces chocolate cremes ñ Roses ñ Milk cream chocolate Specializing in greek ceremonies ñ Lilies with biscuits ñ Dark chocolate (Egias) and Kouvertoura ñ Excellent Service ñ Best Prices ñ Highest Quality

b Open: Tuesdays & Wednesdays 10:00 a.m. - 2:00 p.m., b Thursdays & Fridays 10:00 a.m. - 6:00 p.m.,

a Saturdays 10:00 a.m. - 4:00 p.m., or by appointment a THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 11 After Presiding Over Verizon-MCI Merger, Michael Capellas Joins CISCO

Continued from page 1 CEO in March 2004. Previously, with a balance of strategic insight, AT&T Corp for approximately Capellas had served as CEO of operational expertise, technology $16 billion, the move triggered proximately 250,000 employees, Compaq Computer Corporation, and financial skills, and sales and some long overdue consolidation serving customers in 150 coun- where he helped arrange the com- marketing savvy. in the American communications tries. pany's merger with Hewlett- He has been widely credited for landscape. The closing of the deal meant Packard in early 2002, at which engineering the sale of MCI to Once the dust had settled on that Capellas would be financially time he became president of the Verizon. Only a few years ago, it the SBC and AT&T deal, specu- well rewarded for steering the combined company (HP acquired seemed unlikely that anyone lation soon turned to the number- company out of Chapter 11. Ac- Compaq for $25 billion). would wish to purchase disgraced two ranked long-distance phone cording to a filing with the U.S. Se- Capellas, of Greek and Italian WorldCom, which had collapsed company in the U.S., MCI. curities & Exchange Commission, ancestry, left HP in November into Chapter 11 owing $11 billion, BITTER TUG-OF-WAR under the terms of his employ- 2002 to "pursue other career op- making it the largest bankruptcy in Capellas and MCI quickly ment agreement, Capellas is enti- portunities" and received approxi- history. Capellas took charge in found themselves in the middle of tled to $11.3 million in severance mately $14 million. He also report- December 2002 and reorganized a bitter tug-of-war between U.S. pay, $18.5 million in restricted edly received a $50 million pack- the carrier. telecommunications operator stock, and $9.43 million in pay- age when he joined MCI. Prior to His initial 100-day plan focused Qwest Communications Interna- ment for taxes, which may be as- his tenure at Compaq and HP, he on improving customer satisfac- tional and Verizon. sessed on the bonus. Capellas re- had spent 16 years at Schlumberg- tion and celebrating small success- Verizon and Qwest waged a ceived $25.2 million in salary, er LTD, holding a variety of man- es. "You can't try to do everything battle for MCI which lasted more bonus, and other pay in 2004, com- agement positions throughout the all at once. You'll go nuts. You than four months last year. Veri- pared to just over $3 million in world. In addition, he has also held solve as much as you can each zon eventually won the backing of 2003. senior-level positions at SAP day," he says. With that philoso- MCI's board even though the Prior to joining Cisco, Capellas America and Oracle. He is a grad- phy, and his methodical approach, smaller Qwest offered more mon- joined MCI as chairman and CEO uate of Kent State University, he brought MCI out of Chapter 11 ey. in November 2002 as the company where he earned his bachelor's in in April 2004, when it re-emerged Capellas and his board had - then known as MCI WorldCom - Business degree. as MCI Inc. backed the Verizon deal all along, was in bankruptcy and working to Throughout his career, Capel- When SBC Communications arguing that Verizon was the fi- Michael Capellas, center, during a recent event at Drexel University, overcome a massive accounting las has gained a solid reputation announced in February 2005 that nancially stronger partner and where he lectured on corporate accountability. Also picture are Dean scandal. He became president and across the market as an executive it was to acquire its former parent that, strategically, it would be a of Drexel’s LeBow College of Business George Tsetsekos, left, and better fit. But he had to contend University President Constantine Papadakis, right. with a determined Qwest, which refused to accept the board's deci- has made amended filings with the Communications International sion and instead concentrated on a Securities & Exchange Commis- Inc., Rosenbluth said. At 78, George Hatsopoulos Still Going "hearts-and-minds" battle with sion to reflect a restatement of The purchase of MCI ends a MCI shareholders to persuade previously issued financial state- two-decade history for a company them that Qwest offered the better ments for the quarterly periods which began in the early 1980's as Strong and Contributes to the Future deal. ended March 31, 2005; June 30, LDDC Corporation under then With New York-based Verizon 2005; and September 30, 2005. CEO Bernard Ebbers, and ended By Steve Bailey trepreneurship at MIT, and is on Hatsopoulos acknowledges that to- seemingly unwilling to budge from The restatement reportedly had up a poster child for the excesses the board and an investor in a half- day. “'I should have stopped - not its initial $6.75 billion bid, Capel- no impact on MCI's merger with of the last 1990's. As WorldCom WALTHAM, Mass. - Mick Jag- dozen startup companies, includ- at the 23rd, but at the number six. las had to contend with rebel Verizon. Inc., MCI plunged into bankruptcy ger is still touring at 62. And at 78, ing Hatsopoulos' company, It was impossible to manage." shareholders, as Qwest progres- The Washington Utilities & in July 2002, after discovering George Hatsopoulos is still think- Pharos. How long do they plan to work? sively upped the ante until its bid Transportation Commission ap- sales were fabricated to help meet ing big, as he attempts to build an- “I love my start-ups," says d'Ar- “Who knows," says Hatsopoulos, topped the $10 billion mark. De- proved the combination late on analysts' estimates. other billion-dollar technology beloff who works about 30 hours a week, spite this, he managed to squeeze December 23, allowing Verizon to Ebbers, a former milkman and company on Route 128. Alex d'Ar- “I don't like golf," says Hat- down from the 65 hours of the past. an extra $2 billion out of Verizon, clear the final obstacle to the deal. bouncer, was sentenced to 25 years beloff, at 77, is right there with him. sopoulos, Pharos's chief executive. ''Not until I am bedridden. People which eventually raised its offer to Verizon needed approval from in jail last July for leading an $11 Hatsopoulos and d'Arbeloff are The two think Pharos can be a don't understand. I enjoy this." $8.6 billion. states and territories, as well as the billion fraud, the largest in U.S. the kind of tech legends we don't billion-dollar company. Said d'Arbeloff, before running It is thought that Capellas was federal government. history. have anymore. Hatsopoulos started the compa- off to teach a class: ''I am excited also involved in negotiating the "This deal, along with the SBC- WorldCom lost $184.6 billion A visionary engineer, Hat- ny five years ago, and is building it people still want me to do things." controversial sale of the largest AT&T merger, launches these two in market value from its high in sopoulos built Thermo Electron in the image of Thermo Electron Sixty-five isn't the magic num- shareholding of MCI to Verizon, companies on a platform to com- June 1999 to July 2002. The com- Corporation as a hotbed of innova- as a business based on technologies ber it used to be. We're living after Mexican billionaire investor pete nationwide,'' said Todd pany emerged in April 2004 under tion and ran it well for most of his generated by its own engineers. longer, and many of us are working Carlos Slim Helu agreed to of- Rosenbluth, an equity analyst at Capellas, though it failed to drive 43 years there, until his famous So far, Pharos has one operat- longer - some by choice, some not. fload his 13.4-percent stake in Standard & Poor's, who has a revenue growth amid plunging strategy of spinning out one public ing business, Levitronix, which has Hatsopoulos and d'Arbeloff have MCI to Verizon, despite his being "hold'' rating on both companies. telephone calling prices. company after another spun out of two divisions, one developing spent a lifetime inventing the fu- initially opposed to the Verizon "It puts these two companies bat- control in the late 1990's. blood pumps for heart patients and ture of technology. In a real way, acquisition. Capellas had also tling more aggressively.'' The above incorporates infor- D'Arbeloff and a classmate the other focused on the semicon- they are our future, too. been battling to keep the rest of Verizon and AT&T will both mation from reports posted by started Teradyne Incorporated ductor market. MCI shareholders onside, despite be selling services to business cus- Bloomberg News, Datamonitor over Joe and Nemo's hotdog stand The company is based in a for- The above was originally pub- the fact that there was a higher of- tomers in territories which had News & Comment, the Wall in downtown Boston so they could mer Thermo building, and has lished in the Boston Globe. fer on the table from Qwest. been predominantly owned by Street Journal, Business Wire walk to work, and spent 40 years about 40 employees here and in Meanwhile, MCI announced it BellSouth Corporation or Qwest and the Associated Press. building it into the country's largest Switzerland. maker of semiconductor-testing Pharos has a long way to go: equipment. Hatsopoulos expects sales to reach Hatsopoulos was chairman of $11 million this year, but he is al- the Boston Federal Reserve; d'Ar- ready taking about a public offer- beloff was chairman of the school ing in two or three years. which helped make them both: the Ambition is not Hatsopoulos's Massachusetts Institute of Tech- problem. ''I am probably going to nology. do it again," he says of his billion- But at a time in life when most dollar goal, ''depending on how of their contemporaries have long long I live." since moved off stage, d'Arbeloff This is the second time around and Hatsopoulos continue to look for these two old friends. for the next new turn in technolo- D'Arbeloff was on the Thermo gy. The reason: They love their board, but quit when he thought work. Hatsopoulos' spinout strategy, “I just like to work. That is what which peaked at 23 separate com- I enjoy doing," says d'Arbeloff, who panies, had gotten out of control. teaches innovation and en- Time proved him right, and even 12 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006

After Acquiring Guidant for $27B, Boston Scientific at a Crossroads

By Evan C. Lambrou Guidant Corporation for $27 billion on burse Guidant for the termina- Special to The National Herald January 25, ending a nearly two-month tion fee of $705 million, payable bidding war for Guidant with Johnson & to Johnson & Johnson as a re- NEW YORK - Boston Scientific's Johnson. sult of the termination. chairman and co-founder, Greek Ameri- The boards of directors of Boston Sci- Boston Scientific has less can Peter Nicholas, knows Indiana well. entific and Guidant have given their re- than six weeks to complete the He worked for the Indianapolis drug spective approvals to the transaction, deal if it wants to stay on track maker Eli Lilly and Company from 1968 which is subject to clearance under the with its acquisition timetable. to 1978, rising to general manager of its Hart-Scott-Rodino Antitrust Improve- But the companies were still Northern Europe office. He got his job, ments Act, the European Union merger awaiting regulatory approval in in part, through his marriage to Ruth V. control regulation, and other customary the United States and Europe, "Ginny" Lilly, a great-great granddaugh- closing conditions (the agreement will alas well as the endorsement of ter of the drugmaker's founder. Guidant so require the approval of the sharehold- shareholders. emerged from Lilly as a spin-off in 1994. ers of Boston Scientific and Guidant at If the acquisition is delayed Hankering to get out on his own, Ni- special shareholder meetings). after April 1, the deal's terms cholas left Lilly and teamed with John The two companies came of age to- call for Boston Scientific to in- Abele to buy a new-fangled business in gether during the 1980's, but had turned crease its $80-per-share share Massachusetts which sold steerable into intense competitors. They fought bid by about one cent a day. catheters. They outbid Cook founder for market share in the stent and And some analysts (e.g., Bill Cook for the tiny startup which has catheter businesses, and have battled Moody's Investors) have recent- since grown into Boston Scientific. each other in court numerous times over ly lowered their financial expec- Headquartered in a former brewery patent rights to their valuable technolo- tations for Boston Scientific be- in Natick, Massacusetts (near Boston), gies. cause of its quality-control Boston Scientific has 16,000 employees Three years ago, Boston Scientific problems and the debt and reg- at 22 production and research sites used its legal muscle to stop Guidant ulatory risks from buying ASSOCIATED PRESS around the world, and is the world's from getting access to the paclitaxel drug Guidant, which endured a rash The Boston Scientific drug-coated Taxus stent, above, which props open arteries and pre- leading manufacturer of coronary stents. coating on heart stents. Guidant wanted of recalls, lawsuits and investi- vents them from reclogging. Boston Scientific, which was co-founded by Greek American Heart stents now make up 40 percent to get its hands on the drug coating by gations involving its products Peter Nicholas, markets a wide range of biomedical products for minimally invasive surgery. of Boston Scientific's sales. Doctors use buying a fellow Indiana company, Cook last year. Since June, Guidant has re- nity we think we have," President & CEO cent at the start of 2005 to around 54 per- called or issued safety advi- Jim Tobin said. Boston Scientific will not cent by year's end, with a rival stent from sories for about 88,000 defibril- be required to pay taxes on past profits J&J making gains on studies J&J claims lators and more than 200,000 Guidant earned overseas, for which demonstrate greater effectiveness and pacemakers and defibrillators Guidant postponed tax payments to a safety. last year. At least seven deaths later year. But Tobin says the erosion in Taxus' have been linked to the faulty Boston Scientific's comments on its share has reversed in recent weeks: "We devices. The company faces fourth-quarter performance also left took J&J's best shot and withstood that, regulatory investigations, as some analysts convinced that the compa- and we're seeing our results looking very well as multiple lawsuits from ny is bouncing back from recent sales de- positive moving into 2006," he said. the recalls. clines for its top product, the Taxus heart Excluding several one-time charges, While Boston Scientific will stent. Boston Scientific's fourth-quarter profit inherit those problems, howev- "The end of the fourth quarter looked came out to $340 million, or 41 cents per er, it also will gain Guidant's better than the beginning, and 2006 is share, falling a penny short of the con- business in the fast-growing looking okay," said Jan Wald, an analyst sensus estimate of analysts surveyed by market for implantable defibril- with A.G. Edwards & Sons. Thomson Financial. lators and pacemakers. Boston Scientific said its net income Ultimately, minimally invasive INCREASINGLY for the October-December period rose surgery is also rapidly gaining popularity OPTIMISTIC 12 percent to $334 million, or 40 cents because it allows patients to recover Company officials have said per share. That compared with a profit of faster and stay in hospitals for a reduced they are increasingly optimistic $297 million, or 35 cents per share, dur- period of time. It also helps reduce the that Boston Scientific can ing the same period a year ago period, chances of related complications which quickly complete the acquisi- though sales dropped 4 percent to $1.54 could occur after major surgeries, there- ASSOCIATED PRESS tion, while also fixing its own billion, hurt by a 12 percent decline in by avoiding the need for re-admission. The headquarters of the Indianapolis-based Guidant Corporation, which was acquired last quality-control problems. Taxus stent sales. With such compelling advantages, the month by Boston Scientific for $27 billion. Boston Scientific, which is chaired by Greek After reporting a higher Boston Scientific executives conceded trend towards minimally invasive surgery American Peter Nicholas, outbid Johnson & Johnson for the acquisition. fourth-quarter profit despite that Taxus' share of the U.S. drug-coated will continue to grow and generate de- declining sales, Boston Scien- stent market dropped from about 60 per- mand for coronary stents. the tiny drug-coated wire-mesh tubes to Inc., which shared rights to use the drug tific executives told an- Added to these benefits, a fast-grow- prop open plaque-congested arteries - with Boston Scientific. alysts that the Guidant ing ageing population and the rising the device expands inside the arteries Boston Scientific's victory in that case deal looks more ap- trend towards minimally invasive surg- with a balloon to act as a scaffold to keep caused Guidant to back off from buying pealing that it first did, eries are helping to drive the coronary the blood vessel open. The drug coating Cook, and it led to Boston Scientific in part because of a stents market in Europe. helps prevent the artery from reclogging gaining sole rights to sell paclitaxel on tax-law change Boston Boston Scientific reported on Febru- by keeping tissue from growing through heart stents, a huge market opportunity Scientific expects will ary 15 that French regulators approved the mesh. which has enabled the Massachusetts cut its debt. its Taxus Liberte drug-coated stent, the Stents have had a tremendous impact company to nearly double its sales in the Once Boston Scien- next generation device of the Taxus Ex- on the field of interventional cardiology, past three years, to more than $6 billion tific completes the press 2 (not yet approved for use in the becoming an accepted mode of treat- this year. That figure was about twice the Guidant purchase, its U.S.). ment for a wide range of diseases of the size of Guidant's annual sales. debt load is expected All these factors together point to a arteries due to their many advantages: The Guidant acquisition nonetheless to stand at $9.6 billion promising future for the coronary stents better clinical performance, faster pa- appears to be a costly one for Boston Sci- - $900 million less than market in Europe. The market for drug- tient recovery time and fewer medical entific at this point. its earlier forecast be- eluting stents (DES) is currently valued complications. The Massachusetts-based company cause of a change in at $314 million, and is likely to increase The Massachusetts-based company is has agreed to acquire Guidant for $80 federal law affecting to $883 million in 2012 at a compound one of a few companies in the highly per Guidant share made up of a combi- tax obligations of com- annual growth rate of 15.9 per cent. competitive medical device industry nation of $42.00 in cash and $38.00 in panies making acquisi- which makes an array of highly engi- Boston Scientific common stock (subject tions. Boston Scientific Chairman Peter Nicholas, left, with The above incorporates information neered products to patch up the ailing to a collar). "The more we see, President & CEO of Boston Scientific Jim Tobin. Mr. from reports posted by the Indianapolis human body, and purchased troubled In- In accordance with the terms of the the better we like it, Tobin oversaw the company’s recent acquisition of Star, the Associated Press, Drug Week dianapolis-based medical device maker agreement, Boston Scientific will reim- and the more opportu- Guidant Corporation. and Biotech Equipment Update.

We have a selection of over 250 brands of wines and 30 brands ROULA ANGELIDIS Mediterranean Foods of ouzo GRI, CRS 6524 Mission St., (top of the hill) Associate Broker (founded in 1908) Daly City, CA 94014 The Biggest and Oldest Call Roula your realtor Greek Store in the West Client relationships built on trust Also extensive line of stephana, decorated candles, 25 years of skills and experience in commercial, industrial baptismal items, icons, ceramics, statues, T Shirts, books, and residential properties CD’s, DVD’s, videos and supplies of Greek items for Church Festivals on consignment.

One Stop for all your Greek needs

We ship 650.994.3322 anywhere Hours: in the U.S. Mon-Sat 10 am - 7 pm Sunday 11 am - 3 pm Elias Tsiknis, President

All major credit cards accepted w w w . g r e e k i m p o r t s i n c . c o m b

a 3275 Steinway Street, Astoria, NY 11103

Tel.: (718)956-3333 ñ Cell: (646)645-9292 w w w . r o u l a @ s e e n y h o m e s . c o m THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 13 6 Greek-Owned and/or Operated Companies Top Privately-Held Lists

By Liana Sideri Illinois which established itself 20 With the introduction of Cran- construction industry in New Eng- Special to The National Herald years ago by producing private-la- berry Juice Cocktail 75 years ago, land and Florida. Middlesex con- bel frozen pizzas for big-chain Ocean Spray became the first pro- sists of two corporations: The Mid- NEW YORK - Crain's New clients like Wal-Mart and A&P, ducer of cranberry juice drinks. In dlesex Corporation and Asphalt York Business rated five major and the local restaurant chain, 1963, Ocean Spray revolutionized Production MFG LLC. Together, Greek-owned Companies based in Leona's. the marketplace with the introduc- these companies cover all aspects the New York area among the top In 2004, its sales totaled $123 tion of the juice industry's first juice of the construction business, from privately held companies of New million, a 73 percent increase from blend: Cran Apple. The cranberry- producing and installing bitumi- York in 2005 (see our December the previous year's $71 million. Lit- apple juice drink became such a nous concrete to constructing ma- 10, 2005 edition, page 1). tle Lady Foods, the 18th largest huge sensation that the company rine, rail, bridge, site and heavy civil That prompted us to investigate player in the $2.6 billion U.S. continued to add new flavors to the construction projects. how Greek-owned and/or -operat- frozen pizza market, introduced in- line, including a variety of low-calo- Led by Mr. Aponas, the compa- ed companies were doing else- dividually sized pizzas into the mar- rie cranberry juice blends. Accord- ny's total revenue for the year 2004 where in the country. ket. It has since moved into new ing to BBJ, gross sales totaled was $140 million, according to the Greeks in Chicago and Boston product lines, including sandwich- roughly $1.4 billion in 2004. Ocean BBJ. Middlesex employs 425 em- didn't fare too badly (information es. “They are tapping into the Spray employs more than 2,000 ployees and operates under an was not readily available for Greek- whole on-the-go lifestyle,” David people worldwide. award-winning comprehensive owned and/or -operated companies Wellman, editor of the trade maga- Mr. Papadellis, 48, runs the safety program which is applied and in Detroit, Philadelphia and Cleve- zine, Frozen Food Age, told company. He joined Ocean Spray enforced at every project location. land). Crain's. Two years ago, Little Lady Nicholas S. Gouletas, center, CEO of American Invsco, a Chicago- in 2000, became President and As the company grew, it gradu- CHICAGO AREA Foods opened a state-of-the-art based real estate company. “Building is in our blood,” Mr. Gouletas chief operating officer of the com- ally began branching out into larger According to Crain's Chicago sandwich factory in Gurnee, Illi- says of his $4 billion empire. pany; prior to that, he was senior construction projects. In 1998, Mid- Business (April 18, 2005 issue), nois, its second new facility in the vice president of marketing at dlesex acquired Paquette Paving of three Greek-owned enjoyed rev- past four years. the late 1960's, Cumberland Farms rate level have also been made with Welch Foods. Before joining Leesburg, Florida and incorporat- enues high enough to make the list The company has increased its had become a retail empire with the appointment of Harry Brenner Welch's in 1994, he served as Vice ed its asphalt production, paving of the top 250 privately held com- client base along with its product stores throughout the Northeast. In as the president of the company in President of Marketing for Cad- and site construction into our cur- panies in the Chicago area. Those line. Over the last several years, its 1971, its first self-serving gas pumps 2003, the first time after 65 years bury Beverages N.A. He began his rent operations, and acquired three companies included one real were introduced to the public at a that this position was not held by a Asphalt Production LLC, another estate firm and two food industry store in Connecticut; eventually, family member. Mr. Brenner has bituminous concrete producer, companies: American Invsco, there were 100 stores with gas facil- been with Cumberland Farms for soon afterwards. These companies owned by Nicholas S. Gouletas ities. more than 20 years. are centrally located in Lake Coun- (ranked #71); Little Lady Foods, In 1986, the company expanded Owned today by Mrs. Bentas, ty, Florida and have stabilized the owned by John Geocaris (#155); its petroleum business by purchas- the daughter of Mr. & Mrs. Middlesex presence in the central and Treasure Island Foods, owned ing the northeast marketing and Haseotes, the company totaled $2.5 Florida marketplace. by Christ Kamberos (#214). petroleum distributions assets of billion in revenues for the year NEW YORK AREA Based in Chicago, American In- Chevron/Gulf. That acquisition 2004, according to the Boston Busi- And to recap previously pub- vsco has been a pioneer in the resi- gave Cumberland Farms 542 Gulf- ness Journal. With 1,100 outlets lished information on New York dential real estate industry since branded gas stations, supply con- and nearly 7,000 employees, Cum- area firms, according to Crain's 1969. According to Crain's, AI's tracts and franchises for Gulf gaso- berland Farms is focused on build- New York Business (November 2, property values were estimated by line wholesalers, including four ing new stores and renovating exist- 2005 issue), the five largest private- Crane's to be in excess of $4 billion. deepwater ports, plus equipment ing ones, expanding product variety ly held companies owned and oper- In 2005, the company's revenues and a fleet of petroleum transport and continually transforming the ated by Greek Americans were the were $600 million, significantly up vehicles. Cumberland Farms retail experi- Red Apple Group, owned by John from $352.3 million earned the pre- In 1994, Cumberland Farms and ence. Catsimatidis (ranked #9, $3 billion vious year, and $293.1 million in Boston's Catamount Management OCEAN SPRAY CRANBERRIES in revenues); CIC International 2003. The company has 250 full- created Gulf Oil LTD, in which Ocean Spray, North America's LTD, of which where Soteris “Son- time employees in the Chicago area Cumberland holds a two-thirds ma- leading producer and distributor of ny” Fassoulis is Chief Executive Of- and 284 worldwide. jority ownership of the oil termi- canned and bottled juices and juice ficer and majority stockholder Mr. Gouletas, the firm's chair- Randy Papadellis, CEO of Ocean nals, as well as the license to use the drinks, is an agricultural coopera- (#31, $873 million); Bouras Indus- man and CEO, has successfully de- Spray Cranberries, Inc. Gulf trademarks and contracts for tive owned by more than 650 cran- Lily Bentas, Chairman/CEO of tries Inc., owned by Nicholas J. veloped, marketed and managed distributors. In 2003, the company berry growers in Massachusetts, Cumberland Farms, Inc. Bouras (#100, $227 million); M.A. more than 40,000 condominiums in clientele has included United Air- made another petroleum acquisi- Wisconsin, New Jersey, Oregon, Angeliades Inc., owned by Mike more than 40 cities across the coun- lines, H.J. Heinz Company, Den- tion, purchasing 200 Exxon gas sta- Washington, British Columbia and career with Frito-Lay in 1981. He Angeliades (#125, $165 million); try. ny's Corporation and Six Flags tions and more than 600 Cumber- other parts of Canada, as well as holds an MBA in Marketing and and St. Eve International, owned by “Building is in our blood,” Mr. theme parks. “They've consistently land Farms stores with gasoline. more than 100 Florida grapefruit Finance from Cornell University Todd Demakos (#155, $119 mil- Gouletas, the son of Greek immi- demonstrated an ability to win im- New store designs were devel- growers. and a bachelor's in Business & lion). grants, told the National Herald. portant accounts,” Bob Golding, oped to create friendlier and easier Headquartered in Lakeville- Government from Colby College. The Gouletas family first came to executive vice president of Chica- shopping. They typically feature a Middleboro, Massachusetts, Ocean MIDDLESEX CORPORATION Crain's bases its information the United States in 1944, towards go-based food consultant Tech- warm New England-style architec- Spray was formed by three cranber- The Middlesex Companies be- on published sources, its own the end of World War II, in search nomic Inc., told Crain's. ture to complement the local com- ry growers from Massachusetts and gan with the founding of Middlesex database, Forbes, Dun's Regional of a better life. Mr. Gouletas credits The company also has its own munity, offering wider aisles, cen- New Jersey in 1930. Florida grape- Paving Company in 1972 by Robert Business Directory, Hoover's and his parents for his success. “The labs and formulators to develop tral checkout and a softer, earth- fruit growers joined the company in W. Pereira. It is a diversified cor- Long Island Business. first thing my parents did (when new foods. “The nature of contract tone decor. Changes at the corpo- 1976. poration covering all aspects of the they came to the States) was save a manufacturing can be quick in-an- few dollars to purchase our first outs binge and purge,” Mr. Geo- home, a $7,000 two-flat in Chica- caris said. “But when we get an ac- go,” he recalled. “Even then, I count, we want to keep it long- sensed the importance of owning term.” property.” His sister, Evangeline, is Little Lady Foods was founded a formidable real estate developer in 1985 by Mr. Geocaris' late father, in her own right. Angelo, a well-connected fundrais- Mr. Gouletas' father, Steven, er for Democratic candidates and held down multiple jobs to help Chicago charities. Angelo Geocaris purchase that property, while his wanted to develop packaged foods mother also held down a piecework which were hard to mass-produce job, sometimes until 2 AM. Mr. at the time. His timing proved to be Gouletas also maintained a strong perfect, aligning with the rise of big work ethic from an early age. At 14, grocery store chains like Kroger he and his brother quietly trans- and Albertson's. The company formed their two-flat house by keeps growing, paying special at- building a basement apartment and tention to quality private-label a garage into the property. From goods. that point on, Mr. Gouletas kept Treasure Island Foods is head- building. At 31, he formed Ameri- quartered in Chicago. It is a retail can Invsco, primarily a real estate chain of grocery stores run by Mr. brokerage firm. Three years later, Kamberos, its president and CEO. in 1972, he did his first condomini- According to Crain's, the compa- um conversion, at a time when the ny's revenues for the year 2004 concept was in its earliest stages. were estimated at $80 million, The resulting property was sold maintaining the same levels as the within 90 days. previous year (2005 estimates were Today, Mr. Gouletas is now a not published). The company em- Chicago Real Estate Hall of Fame ploys 500 people. The National inductee who, along with his son, Herald's calls to Mr. Kamberos of- AI President Steven Gouletas, is a fice were not returned. recognized name in converting and BOSTON AREA constructing luxury residential de- The Boston Business Journal velopments. The Father-and-son (February 25 - March 3, 2005 issue) team says the company is constantly rated three companies owned researching the market and seeking and/or operated by Greek Ameri- out prime properties. They have cans among the top 100 largest pri- developed more than 50 such prop- vately held companies in the Bos- erties in the Chicago area. ton area: Cumberland Farms Inc., AI has recently set its sights on owned by Lily Bentas, Chairman the Orlando, Florida market. Its and CEO (ranked #3); Ocean Sand Lake Private Residences sold Spray Cranberries Inc., headed by out in five days, and its Plantation Randy Papadellis, CEO (#14); and Park Private Residences sold out the Middlesex Corporation, head- within a stunning half hour during ed by Al Aponas, President (#58). two simultaneous events in Chicago Cumberland Farms, a conve- and Orlando. nience store/petroleum marketer in AI has also successfully pene- the Northeast, is the largest retailer trated the Las Vegas, Nevada mar- in Massachusetts, with 900 conve- ket with a resort-type 678-unit nience stores, gas stations, called Meridian Private Resi- petroleum and grocery distribution dences, and is currently seeking operations. The Company was more properties in the Las Vegas founded in 1939 when Vasilios and area. In the year 2005, AI began ex- Aphrodite Haseotes bought a farm panding worldwide through its in- and started a dairy in Cumberland, ternational division, searching a va- Rhode Island. During the dairy's riety of marketing initiatives. early years, the Haseotes family op- Despite his global expansion erated a rural milk delivery busi- ambitions, Mr. Gouletas sees him- ness which runs to this day. self as a child of the American The company's initial business Dream “The most valuable asset is in the 1950's was milk delivery to your character, the second is repu- homes and local schools, and open- tation,” he said. “I don't care where ing an outlet in Massachusetts, you start. America gives you the op- where milk prices were not con- portunity.” trolled by the commonwealth (as Headed by Mr. Geocaris, Little was the case in Rhode Island and Lady Foods is based in Elk Grove, other states in New England). By 14 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006 Stelios Haji-Ioannou is New York Times Entrepreneur of the Year

By Jennifer Conlin NYT: When you think of your rooms and are full of old folks, ence from other industries. With hero there. Making the brand big- The New York Times target easyCruise customer, what which made Micky Arison pretty the cruise line, I came up with the ger is something I learned from type of person are you picturing? angry (Mr. Arison is chief execu- idea of staying in port at night Branson. But Virgin is more of a Stelios Haji-Ioannou is the son HAJI-IOANNOU: Someone tive of Carnival Cruise Lines). I from my personal experience and luxury brand, and easyGroup is of a Greek shipping tycoon and young. My research showed their am a great believer that, to make a memories of private yachting. I more of the money-for-value the founder of easyJet PLC, a bud- biggest objection to cruising was difference in people's lives, you grew up being on boats because brand. He is saying that his cruise get airline he started in 1995 at the that it was a lot of old people. So I are probably going to have to ruf- my father had a yacht. What do product is for people in their for- age of 28. Last year, easyJet flew thought, ''Give them their own fle some feathers. One of our you do with a yacht? You sail dur- ties who are too old to rock 'n' roll 30 million passengers, making it ship.'' The younger people are not brand models is to take on the big ing the day and go into port at and too young to tango. Hopeful- one of the largest short-haul air- willing to spend $5,000 on a cruise. boys. night, which is not the itinerary of ly, they are too young for Carnival lines in Europe. Since then, Mr. And they do not want to be held NYT: Someone once said that traditional cruises. Cruising in the and too old for easyCruise. Haji-Ioannou has started 14 other captive on the ship, so we have a you look at traditional industries, middle of the night is not pleasant. NYT: You once said you want- ventures through his private in- two-night minimum stay. By not and then blow them to pieces by You look out at a dark sea. Sailing ed to paint the whole world or- vestment venture, easyGroup, and making the ship a floating resort, figuring out a way to do them during daylight and arriving in the ange, your company's signature licenses the ''easy'' brand name to we have been able to keep the cheaper and more efficiently? Do afternoon is better. You actually color. Do you ever grow weary of ventures like easyHotel and price low. Instead, it is a floating you think that is a fair assessment see views. that bold orange color? easyInternet Cafe. hotel that we keep in port at night of your business philosophy? NYT: You emphasize low cost. HAJI-IOANNOU: I know His most recent project, so people can eat onboard if they HAJI-IOANNOU: I can't When do you think luxury should where you are coming from about easyCruise, was started last sum- wish, or go ashore. And everything promise to blow all of them apart. not be sacrificed? the color. Let me give you a hint. Greek Cypriot Billionaire Stelios mer on the French and Italian is a la carte, so they can choose But I think it is a compliment HAJI-IOANNOU: Everyone is Maybe the next ship will have less Haji-Ioannou founded easyGroup Rivieras and is now offering cruis- what services they want. when the big boys are taking no- different. For me, I would feel em- orange. I am not saying there is in 1995 at age 28. es in the Caribbean, operating out NYT: In the same way you took tice. It is also a convenient way of barrassed within Europe on short- anything wrong with orange, but of Barbados, and with stops in St. on British Airways when you start- differentiating our product from haul flights to be in business class. we can debate the quantity of or- pounds (7.30 euros, $8.70), de- Vincent, the Grenadines, Grena- ed easyJet, you seem more than the more traditional products. But when I fly to Miami from Lon- ange. Maybe not every square foot pending on the time of order. da, St. Lucia and Martinique. The happy to go up against Carnival NYT: How do your best ideas don, I want business class because has to be orange. But we want to Delivery costs would likely be average age of easyCruise cus- Cruise Lines. Do you like contro- originate? I want to sleep. If you are going to be faithful to the brand, and the more expensive in the evenings tomers in its first season was 32. versy? HAJI-IOANNOU: It is a lot of spend one night in a city and have color is part of that. It tells people and weekends when demand for This conversation took place on HAJI-IOANNOU: I said that trial and error, observing, travel- business meetings, then a budget we are about value for money and pizza is high. January 10 in London. Carnival's ships have tacky ball- ing and using my personal experi- easyHotel is fine, but I don't think fun. "Anyone can produce cheap you should spend your honey- On February 3, Mr. Haji-Ioan- pizza, but we have not compro- moon in an easyHotel. What a nou also launched a no-frills pizza mised on quality and service stan- scary thought! operation aimed at shaking-up dards. The easyPizza.com fran- NYT: Would you bring the Great Britain's fast-food delivery chise is attractive because it is well TEL.:(718) 238-3771 FAX (718) 492-6318 easyHotels to America? sector, springing the first franchise priced; easy to operate; and offers Greek Owned Moving Company HAJI-IOANNOU: Yes. I am of easyPizza.com in Segensworth a centralized kitchen, one national thinking of franchising it in New East, between the southern British phone number and web address," York, where we are in negotia- cities of Portsmouth and Mr. Haji-Ioannou said. C O N N E C T I N G G R E E C E - C Y P R U S - U . S . A . tions, and perhaps Miami. Southampton. The company that ships your whole household to Greece, Cyprus and all over the world NYT: You are often mentioned The chain would reduce costs The New York Times pub- Our many years of experience THE ONLY NON-STOP PACKING AND in the same breath as Richard by making use of call centers and lished the above on January 22. is your guarantee for an SHIPPING COMPANY TO PIREAUS, Branson, who is now also going in- the Internet for placing orders, The original headline is, excellent job done until CYPRUS, KARPATHOS, CRETE AND your belongings arrive to THESSALONIKI to the cruise market. What do you while overheads would be cut ow- “ENTREPRENEUR OF THE your final destination DELIVERIES FROM ALL OVER THE U.S. think you have in common, and ing to an absence of high-street YEAR: Stelios Haji-Ioannou, ñ Personal & Reliable Service SHIPPING WITHIN THE US how do you think you are differ- chains. The no-frills pizzas are be- Making the 'Big Boys' Take No- ñ Competitive Low Rates ent? ing made in Germany. They are tice.” The story also incorporates ñ Fast and Safe VISIT US AT Also available ñ Delivery of packages from all over the U.S. Trunks, refrigerators HAJI-IOANNOU: There is no then frozen before being flown to information from a report posted ñ Packing in wooden and iron containers 266 54th STREET mattresses, washing doubt in my mind that I have been Britain, where they are to be by Agence France Presse on Fe- ñ Special rates for students and senior citizens BROOKLYN, N.Y. 11220 machines and dryers inspired by him. I wanted to start cooked in ovens. bruary 3: “EasyJet founder ñ Free estimates OR CALL US AT (718) 238-3988 for Greece and Cyprus at 110 & 220 volts at REFRIGERATOR an airline because I thought that EasyPizza.com plans to have launches no-frills pizza in Bri- KEEP ME, YOU WILL NEED ME DIRECT NON-STOP W E R E N T warehouse prices TFG25 JRWW Branson was having fun running 9,000 franchises across Britain, of- tain.” In 2001, Forbes ranked Mr. THANK YOU (718) 238-3988 SHIPPING TO CYPRUS WAREHOUSE SPACE an airline. But the business model fering 11.5-inch pizzas at 4.50 Haji-Ioannou 336th among the came from Southwest, so I think pounds (6.60 euros, $7.85 dollars) world's richest people, estimating that Herb Kelleher is more of a each, plus delivery costs of up to 5 his fortune at $1.5 billion.

Latsis' Super Yachts for the Super Rich

By David Harrison jets; and stay at sumptuous villas in Old money and new money are The Sunday Telegraph the most chic parts of the Mediter- welcome, but money alone is not ranean, Caribbean and United enough, according to Phillipe Lam- LONDON - It is the ultimate States. blin, the chief executive. "We have club for the fabulously wealthy: Pri- Membership opens doors at a strict screening process,'' he said. vatSea, “the exclusive club for su- some of the most prestigious yacht- "We need to know not only the ex- per yachts enthusiasts. ing, polo and country clubs - nor- tent of their wealth, but also where Members cruise in the most lux- mally with waiting lists of up to it came from. We don't want to be urious yachts; fly in sleek private eight years - including the Guards stuffy or pompous, but we want the Polo Club at Windsor, Europe's right people.'' most exclusive venue for the sport. Anybody with a criminal back- The club is the latest venture of ground, or a "negative reputation,'' the Latsis Group, the shipping, oil, and celebrities known for "trashing With great pleasure, we are announcing that Mr. Nikolaos P. Papamichael has undertaken banking and property empire run hotel rooms,'' illegal activities such the responsibility of serving the Greek-American Community at St. Michael’s Cemetery. CHRIS by the reclusive Spiro Latsis, who as drug-taking, and even "partying took over the company when his fa- hard,'' would be turned down. MICHALEAS ther, John, the Greek shipping bil- Several applications have al- lionaire, died three years ago at age ready been rejected, including one NICHOLAS P. ROUSSIS, M.D. 92. The family fortune is estimated from an American rap star. A Pri- to be 2.4 billion pounds ($4.2 bil- vatSea spokesman said that O b s t e t r i c s a n d G y n e c o l o g y lion - Forbes ranks the Latsis fami- Premiership footballers, despite ly 58th among the world's richest earning up to 120,000 pounds 9920 4 Ave., Suite #303, Brooklyn, NY 11209 people, and estimates its fortune at ($209.3 thousand) a week, and oth- $7.5 billion). er high-earning sporting figures, Tel.: (718) 921-1100 It is not known whether the Bri- would be considered only "on mer- RALLYE tish Royal Family has signed up, it.'' 2627 B Hylan Blvd, Staten Island, NY 10306 MOTORS but John Latsis was a friend of the The membership will be limited Tel.: (718) 667-4244 Royal Family, and the Prince of to 100, the club says, even when the Authorized Dealer Wales (Charles) has been a fre- number of yachts is doubled to 40. ñ Complete prenatal care and delivery of babies Mercedes-Benz / BMW quent guest on board his 400-foot Some of its boats are owned by the super yacht, the Alexander, which Latsis Group, while others are ñ Diagnosis and treatment of gynecological problems including fertility issues will be available for PrivatSea leased from private individuals and ñ Laparoscopic surgery ñ All contraceptive methods ñ Pap Smears 1600 Northern Blvd., Roslyn, members (www.privatsea.com). brokers. New York, 11576-1155 The affluent elite who have The club's biggest yacht - and

ñ Unwanted pregnancies ñ Ultrasound ñ Cosmetic surgery for female genitalia b Tel.: (516) 801-2923 signed up include royalty, heads of the fourth biggest in the world - is b ✓ Most insurance policies accepted. ✓ Affiliated with Lutheran Medical Center (Brooklyn),

a state, senior politicians, en- the Alexander. It has 41 state- Victory Memorial Hospital (Brooklyn), St. Vincent's Medical Center (Staten Island) Fax: (516) 625-0055 a and Staten Island University Hospital (Staten Island). ✓ By appointment only. trepreneurs, and rock stars. Some rooms and accommodates 60 [email protected] are household names; others have guests and 60 crewmembers. Con- accumulated vast wealth quietly nery and Frank Sinatra, in the past, and discreetly. Most insist on used the 180-foot Revelation, Come join the party anonymity, but the Prince Albert of which takes members on holiday Monaco, Yves Piaget, the Swiss expeditions to places such as Alas- watches and jewelry tycoon, and ka. the family of Victor Pastor, the The club offers a chance for the Seven Seas Club Monaco property magnate, are re- super rich to parade their status portedly among the first members. without actually buying a super Travel the world for life Prospective members could include yacht, which costs a minimum of 50 the likes of the actor, Sean Connery million pounds ($87.2 million). A on this floating Greek-American community who has, in the past, used one of tiny elite - the mega-rich - will al- the 20 yachts - worth up to 200 mil- ways want to own the ultimate sta- Be a part of this wonderful experience lion pounds ($349 million) each - tus symbol, however, happy to pay now available to those who join. running costs of up to 12 million These lavishly-fitted boats are pounds ($20.94 million) a year. Don’t miss out on furnished with "toys,'' including mi- Roman Abramovich, the Rus- ni-submarines, helicopters, jet skis sian oil billionaire and owner of the b this affordable time share and recording studios. Every whim Chelsea Football Club, worth 7.5

a is catered for, and guests' security billion pounds ($13.1 billion), and and privacy are paramount. Such Paul Allen, the co-founder of Mi- For more information pampering does not come cheap, crosoft, worth 14 billion pounds please contact: however. The joining fee for the ($24.2 billion), are "on another lev- new club is 18 thousand euros el'', said Mr. Lamblin. "They are in Phone: 201-363-1920 ($21.5 thousand). Members then a rich club of their very own.'' choose one of four membership Fax: 201-363-8798 levels, costing from 150 thousand The Daily Telegraph published euros ($179.1 thousand) to 1.2 mil- the above on January 14. The orig- P.O. Box 276 lion euros ($1.43 million), topping inal headline is, “Floating up their accounts as they use up Palaces, Jets and the Most Exclu- Edgewater, NJ 0720 points. sive Venues: The super-rich, roy- SCREENING PROCESS alty and rock stars join the Latsis E-mail:[email protected] or [email protected] • website: www.sevenseasclub.com Applicants for membership of family's latest exclusive venture.” PrivatSea have to be seriously rich. THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 15

America’s Corporate Milieu: Parting Pay for Departing CEO’s Still Very Sweet By Bruce Meyerson numbers simply for dramatic effect. One might lion under a three-year framework. ner was to have served as Disney's chairman and AP Business Writer dream of an executive who would be chastened Nevertheless, some shareholder activists are gun- CEO until next October. His departure was has- enough by the public spotlight to forgo some sever- ning for strict limits on severance and the right to ap- tened by a combination of stagnant results - when he ance, but most are apt to respond to criticism like the prove any deal more generous than the three-year left in October, Disney's shares were just a tad high- NEW YORK (AP) - For outgoing corporate former CEO of Gillette, albeit not so publicly: James package. The board at Coca-Cola recently adopted er than a decade earlier - and mounting shareholder chieftains, the lovely parting gifts remain as lovely as M. Kilts used a September speech to denounce at- such a policy after opposing a shareholder measure distaste for his style of stewardship. ever. tacks on his $165 million windfall from the sale of at the 2005 annual meeting which drew a 40 percent But the Disney board deemed that Eisner left in Wallace D. Malone Jr., for example, is retiring as Gillette to Procter & Gamble. vote in favor. October for "good reason," the contractual magic vice chairman of Wachovia Corporation with a nest The real issue is whether the outcry against exces- You'd also hope that directors might stop arguing words which bestow full severance on an executive egg of at least $135 million. He'll likely get tens of sive pay and severance has resonated with the boards that their hands are tied by old contracts. who departs earlier than planned. millions more in reimbursements for income taxes, which control the corporate cash register. Wachovia asserted repeatedly in its disclosure of Malone and Eisner at least spent lengthy tenures the idea being that no executive should have to en- The money going to Eisner and Malone is the Malone's parachute that a great deal of his money at the helm. Even relative short-timers, whose dure the trauma of writing that kind of check to IRS. legacy of an era before the collapse of the bull mar- was due under "obligations" the financial services tenures are cut short by poor performance, are Malone's benefits consist of a dizzying array of ket five years ago. Both men were long-serving exec- company "assumed" in late 2004, when it acquired granted full severance. payments from five separate deferred compensation utives whose contracts were renewed in the mid- SouthTrust Corp., the bank where Malone was long- The board at Zale's Corporation plans to pay full plans and three different retirement plans. The 1990's, at a time when many boards seemed to feel time CEO. severance of $3.6 million to Mary L. Forte, who re- package also includes five "annual termination pay- no need to sweat the details of the packages they That interpretation neatly omits that Wachovia's signed as the jewelry retailer's CEO at the end of ments" of $6.67 million, and an annual allowance of were approving. board could have objected when it negotiated a January, just months after she was given a new con- $200,000 for five years for office space and adminis- So, do the executive contracts awarded more re- takeover, which in itself generated tremendous tract. Never mind that a spokesman said Zale's trative support. cently show more restraint? wealth for Malone. board "was disappointed that after three and half And no tale of corporate excess seems complete The evidence is mildly encouraging at best, with There's little precedent for such a stand, which years, (Forte's strategy) hadn't translated into better these days without a story from the Magic Kingdom some contracts offering two full years of salary and could antagonize egos and imperil a merger negotia- financial performance." and Michael D. Eisner, the former CEO of Walt bonus, rather than three. tion, so the big paydays for CEO's who sell their Clearly, shareholder dismay has produced only Disney who once championed a $140 million golden The contract given to new Disney CEO Robert A. companies keep coming. In recent months, AT&T limited backbone in the boardroom when it comes to parachute for Michael Ovitz, a friend who lasted just Iger may entitle him to $18.5 million in severance CEO David Dorman and MCI CEO Michael Capel- the messy work of reeling in executive pay. 14 months as his deputy. Eisner departed prema- rather than the $27.75 million an Eisner-type agree- las each drew extra pay worth roughly $20 million for turely last year with a parachute of nearly $24 mil- ment would have produced. And at 3M Co., new selling their companies to SBC Communications and The Associated Press posted the above on Fe- lion, not including a $300,000 annuity for life. CEO George W. Buckley would be entitled to at Verizon Communications, respectively. bruary 7. The original headline is, “Column: Part- The purpose here is not to recite all these large least $8.4 million in severance, rather than $12.6 mil- Then there's pay for lackluster performance: Eis- ing Pay Still Sweet for Execs.”

Boats & Cows? Greek Shipping Tycoon Sells Cattle in Australia for $100 Million By Fiona Cameron all of which has been converted to will continue to market the sta- He also said he was looking for- terest in Stanbroke, but at the end family. The ASPC portfolio has organic operations under the cur- tions' cattle together. ward to having a renewed focus on of the day, it was the cashed-up been overseen in Australia by MELBOURNE - A Greek rent ownership. Mr. Hadzieleftheriades said the his home and 6,880-hectare prop- cattle industry families which David Warriner, the son of Ken shipping tycoon sold a huge swath Despite talk that it was the operation had made many great erty, Bolaro at Adaminaby in the wielded the most buying power, Warriner, businessman Kerry of land around Rockhampton in death this year of Mr. Hadzieleft- achievements and could be Snowy Mountains. leaving the corporates with not Packer's longtime rural manager. Queensland in a $100 million-plus heriades' Australian wife, Pamela launched into "something even The deal is the biggest property one of the prized Stanbroke hold- The deal was arranged by Lex deal, three weeks before the prop- (whom he married in 1970), which more spectacular," but he was not transaction in rural Australia since ings. Heinemann of Ray White Rural erties were due to go to auction. prompted the sale of the stations, in a position to do it. the Stanbroke sale two years ago, Mr. Hadzieleftheriades said and Dick Allpass of Elders. Gregory Hadzieleftheriades he said this was not the case: "I have three children, and I when AMP Life offloaded its rural the Rockhampton properties The stations have spectacular said he was now looking for other "There are many good reasons. have to give a lot of attention to empire for $490 million, before it would be "in very good hands… natural features, including 38 kilo- investments in Australia. Definitely, it was not the fact that them. I don't have the time really, was sold within months in a deal We are all very happy," he said. "It meters of ocean frontage and 21 Central Queensland cattleman my wife passed away." with my other businesses," he said. which valued them at around $700 was a good result; everybody will kilometers fronting the Fitzroy Graham McCamley and his wife Sir Graham, whose cattle oper- Mr. Hadzieleftheriades is presi- million. Mr. Hadzieleftheriades be happy with this." River. Shirley, in partnership with their ation is based on the Tartrus sta- dent of Athens-based shipping was one of the initial bidders for The Rockhampton stations, The sale augurs well for the friends, Allen & Carolynne Nobbs, tion, said he had long coveted group, Eletson Corporation - es- Stanbroke. which Mr. Hadzieleftheriades other current big rural property contracted to buy the cattle sta- Glenprairie in particular. tablished by his father Vassilios in The latest sale again shows the bought throughout the 1990's, are listing, the $30 million worth of tions this past November 4. "We've been here 50 years, and 1966. extraordinary depth of wealth con- held by his Alice Springs Pastoral Northern Territory stations the The deal covers the Glen- I suppose of all the places in the With 26 ships, Eletson runs one trolled by the big local cattle indus- Company, which has no property Sultan of Brunei has for sale. prairie, Fitzroy Vale and Lake whole area over that 50 years that of the world's biggest fleets of dou- try families, whose incomes have anywhere near Alice Springs. Learmonth properties, and 24,000 I'd like to have had, it was Glen- ble-hull tankers. been significantly underpinned in Even before ASPC's purchase, The above was originally pub- head of cattle. prairie," he said. Mr. Hadjieleftheriadis said he the past two years by Japan and the stations were renowned as lished by the Australian. The "Yes, we have done a deal," Mr. Under the deal, Sir Graham will was considering developing a Korea's ban on beef imports from some of Australia's best cattle original headline is, “Shipping Hadzieleftheriades said from take Glenprairie, and the Nobbs tourist resort on his 280-hectare the United States due to mad cow property, being previously owned Tycoon Offloads Three Cattle Athens. family will take Fitzroy Vale and beachfront property at Stanage disease outbreaks there. by the Holmes Court's Heytesbury Stations for $100m-Plus.” The sale covers 71,000 hectares, Lake Learmonth, although they Bay in central Queensland. Corporate buyers showed in- Beef and the British-based Vestey

Mediterranean Foods, Inc.® I, II 30-12 34th Street, Astoria, NY ñ ∆el.: (718) 728-6166 - Fax: (718) 721-9674 23-18 31st Street, Astoria, NY ñ ∆el.: (718) 721-0221 - Fax: (718) 721-2553 FREE NICK KARYDAS, Regional Loan Officer SPACIOUS For PARKING The Homemaker’s Paradise LA JOLLA BANK, FSB 35 Symbol of Quality, Variety and Freshness years we are .Whatever your the source heart desires 21-11 31st Street, Astoria, NY 11105 that provides you will find it Tel.: (718) 267-1169 ñ Fax: (718) 726-7912 the Greek customer Complete your everyday with any and holiday shopping needs with products from kind For your Real Estate Financing Needs of Greek Mediterranean Foods in Astoria product AGORA PLAZA Multi-Family/Commercial Mortgage Loans We satisfy the most THE LARGEST Construction Loans demanding customer GREEK MARKET Fast Closings With us you will find all kinds of oils, olives, cheeses from Greece IN ASTORIA and Cyprus (feta, haloumi), sausages, home made “seftalies”, salted cod fish

cold cuts, Greek bottled water, coffee, cards, beers, soaps, etc. b Reliable Service

FOR YOUR CONVENIENCE, WE ARE OPEN LONG HOURS MAJOR CREDIT CARDS ACCEPTED ñ WE DELIVER NATIONWIDE a WE APPRECIATE OUR CUSTOMERS’ SUPPORT Mediterranean Foods, Inc., in Astoria is not related to any other establishment with a similar name

AEGEAN TRAVEL 31-05 21st Avenue, Astoria, NY 11105 Tel.: (718) 932-3232 ñ Fax: (718) 721-5643 Toll Free: 1-800-251-0230 Ralis Insurance Agency E-mail: [email protected]ñ http://www.rekotours.com Enjoy An All-Inclusive Vacation All Types of Insurance Personal Commercial Auto Buildings DOMINICAN REPUBLIC (Boca Chica, Juan Dolio, La Romana) e e 5 Days / 4 Nights "All-Inclusive" Motorcycle c c Retail Stores Homeowners n n Restaurants a a From $499 + tax ppdo / $329 + tax pp for child Renters r r Wholesalers u u FLIGHTS AVAILABLE FROM LAX, SFO WITH ADDL. $250 Enjoy the Dominican Republic's wonderful Umbrella s s Contractors climate where you can enjoy a truly Holiday Space from JFK, FLL, ATL, SFO, LAX n n memorable vacation that will be lively, Life I I Offices exhilarating, and affordably All-Inclusive. March 6-10, 6-11, (Spring Break Vacation) $599 adult, $399 child + tax Swim all day, dance all night, relax in the March 30 - April 4, (Spring Break Vacation) 6D/5N $629 adult, $399 child + tax ôö spa, and dine anytime. Your A/I Escape April 9-16, 11-18,13-20 (Spring Break) $929 adult, $599 child + tax FAM includes R/T air on Delta Airlines DL#207/524 from JFK to Santo Domingo, April 16-23 (Easter / Passover) 8D/7N $1,079 adult, $729 child + tax Call or stop by for a free quote

meet & greet by English speaking guides May 12-16 (Mother's Day) 5D/4N $499+tx adult, $369 child + tax îï and transfers to your hotel, 5 Nts "All- May 26-31 (Memorial WK) 6D/5N $549+tx adult, $399 child + tax © Inclusive" accommodations at the Santana June 16-20 (Father's Day) 5D/4N $499+tx adult, $399 child + tax Beach Resort, Barcelo Capella, Hamaca b Coral by Hilton*, Canoa Coral by Hilton*, June 30-July 5 (July 4th) 6D/5N $549+tx adult, $399 child + tax Anthony D. Ralis - Agent Sunscape Casa Del Mar**, Viva Dominicus July 1-5 (July 4th) 5D/4N $519+tx adult, $389 child + tax Palace**, Iberostar Hacienda Dominicus** July 1-7 (July 4th) 7D/6N $599+tx adult, $429 child + tax a 32-17 Broadway, Astoria, New York 11106 N e w Y o r k t o A t h e n s f r o m $ 3 8 0 r o u n d t r i p + t a x e s *Indicates + $20 ppdo per day hotel, ** add $30. Companion Suppl is $75. Sngl Suppl. is $145. $30 fuel surcharge after 10/1/5. For holiday space single Suppl. is $40/ppd. $49 additional for each extra day for adults and $25 for children. Rates updated 2/13/6 - subject to change based on availability. Tel.: (718) 274-0700 Fax: (718) 274-7325 16 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006 Greek Shipowners Continue to Make Huge Impact on the Maritime Industry

By Nigel Lowry George Prokopiou took the List's Newsmaker of the Year for Lloyd's List Tanker Company of the Year hon- his role in a number of high-profile or for Dynacom Tankers Manage- Greek shipping public offerings in ATHENS - John Angelicoussis ment, cited as “epitomizing the 2005 and 2004. accepted the 2005 Personality of amazing modernization and re- In a glamorous preamble to the the Year Award at the second newal of Greece's tanker fleet” as announcement of the award win- Lloyd's List Greek Shipping well as being one of the first Greek ners, the winner of this year's Awards gala dinner this past operators to invest in LNG carri- Eurovision Song Contest, Elena November 25, on a night dominat- ers. Paparizou - the first Greek winner ed by big names in the industry. Other companies honored in- - saluted Greece as the “number- Mr. Angelicoussis, who heads cluded Minoan Lines as Passenger 1” shipping nation in the world. Agelef Shipping Group LTD, won Line of the Year, George She then received a special award, the award for his group's pioneer- Moundreas & Company, the 2005 presented on behalf of Lloyd's List ing move into liquefied natural gas Shipbroker of the Year, and soft- and the wider maritime communi- carriers, including its steps taken ware company Ulysses Systems, ty by alternate Culture Minister to train a pool of Greek officers to winner of the Technical Innova- Fani Palli-Petralia. operate this kind of tonnage, on tion Award for its Task Assistant Sponsors of this year's Greek top of the Angelicoussis group's software suite. Shipping Awards included overall existing record in both the tanker The Piraeus Marine Club, Lambros Varnavides event sponsor Ernst & Young and and dry bulk sectors. launched in 1967, won the first Pi- award sponsors ABN-AMRO, Al- For Lambros Varnavides, di- raeus International Center Award, istry's general secretary for ports pha Bank, The American Club, rector of shipping for sponsor while the Union of Greek and port policy, for Mr. Kollakis' Chevron Fuel & Marine Market- Victor Restis Royal Bank of Scotland, present- Shipowners, represented by its Majestic International Cruises' ing, Germanischer Lloyd, the Gr. ing the award to Mr. Angelicoussis John Angelicoussis president, Nicos Efthymiou, col- donation of a ship to aid tsunami J. Timagenis Law Office, Hellenic representing the Greek shipping was his second appearance on- lected the Safety & Environmental victims in Sri Lanka for two Exchanges, Lloyd's Register, community, as well as industry ex- stage during the evening, having Club Lifetime Achievement Achievement Award for its cam- months early in 2005. Marichem Marigases Worldwide perts. The event was also support- already stepped up to take the Award for services to shipping as paign for robust, safer shipbuild- Huge applause greeted John Services, Royal Bank of Scotland, ed by the Union of Greek Shipping Financier of the Year well as to Hellenism. ing. Lazarou, master of a Victoria Tsavliris Salvage Group and Shipowners, the Hellenic Cham- trophy on RBS' behalf. The bank Restis Group Chairman Victor Emotional highlights of the Steamship-operated bulk carrier, XRTC Business Consultants. ber of Shipping, the Association of consolidated its position as the Restis accepted the award for Dry three-hour prize giving included a who was flown back from Aus- Guests enjoyed a pre-dinner Greek Passenger Shipping Com- largest lender to Greek shipping. Cargo Company of the Year on special award to the Chartworld tralia to attend the awards. Cap- cocktail sponsored by TOP panies, the Hellenic Shipbrokers Other major shipowners hon- behalf of First Financial, holding Shipping Corporation's Lou Kol- tain Lazarou was adjudged Greek Tankers, and Allied Shipbroking Association, Helmepa, the Pro- ored in front of more than 1,000 company for his group's dry cargo lakis, one of the United Kingdom's Seafarer of the Year for his action sponsored a final champagne toast peller Club and in London the guests in the ballroom of the shipping activities. One of the keys richest men, who was unveiled as in saving 15 Indonesian fishermen proposed by Peter Rigby, chief ex- Greek Shipping Cooperation Athenaeum Inter-Continental ho- to First Financial's win was its “Man of the Sea” for 2005. Mr. last July after the men had been in ecutive of Informa, Lloyd's List's Committee. tel included Tsakos Group Chair- takeover of the 32-vessel dry bulk Kollakis was presented with the the water for two days. publisher. man Panagiotis Tsakos, recipient fleet of Malaysian International award by George Vlachos, the Anthony Argyropoulos of Can- The awards were adjudicated The above was originally pub- of the first Lloyd's List/Propeller Shipping Corp. Greek Merchant Marine Min- tor Fitzgerald was named Lloyd's by an independent panel of judges lished by Lloyd's List.

A h o u s e h o l d « n a m e » f o r a l l o f y o u r R e a l E s t a t e n e e d s To find out more about this property call me

We can help you make a sound financial solution

Let us help you be one of the 50 wealthiest soon

I have been serving Astoria and the surrounding area for the last 17 years. Now is the best time for you to learn about the real value of your commercial properties. Carmela Vlacich LICENSED REAL ESTATE AGENT Please call for a free estimate

RE/MAX is rated among the top 10% of realtors in the NYC area

Today b 32-75 Steinway Street, Astoria, NY 11103

a Tel.: (718) 932-3800 ® Cell: (917) 882-4238

Thank you for your continued support and patronage CARMELA VLACICH Let your imagination New York Cabinetry take shape Since 1982 Not only should your smile be beautiful, Custom Design Furniture it should be healthy and comfortable too. 15-30 127th St., College Point, Queens, New York 11356 Tel.:(718) 961-7887 ñ Fax:(718) 445-1270

At New York University College of Dentistry www.newyorkcabinetry.com we’ve built a reputation for service, the expertise of our faculty and concern If you want your furniture remodeled, modernized for your health and appearance. or custom designed in wood and formica built It is our goal to give you the best diagnosis and treatment because we care about you. Commercial or Residential New York Cabinetry There’s no need to wear uncomfortable dentures or be embarrassed can plan every detail, from design by missing or stained teeth. NYU’s Implant Department has safely to final construction and installation. and successfully provided optimal treatment while perfecting smiles for over two decades. The many jobs and services that have have been completed in the tri-state area Currently the College is offering discounted prices in our Aesthetic Dentistry Institute where you’ll be are the testimony of our exceptional ability able to receive cosmetic care at lab cost. and sight of the future.

Doctor’s Offices, Libraries, Dens, Master Bedrooms, Children’s Bedrooms Bathrooms, Built-in Kitchens, TV Units and Wall Units. Please contact the Rosenthal Institute for Aesthetic Dentistry at: (212) 998-9700 We cater all your decorative needs. Our furniture are crafted Ashman Department of Implant Dentistry by experienced craftsmen at: (212) 998-9716. and are considered the Leave a message and your call finest on the market. will be returned as soon as possible. Gus Theotokas b George Papadopoulos

Subscribe Now: www.thenationalherald.com (718) 784-5255 a THE NATIONAL HERALD, FEBRUARY 25, 2006 50 WEALTHIEST GREEKS 17 18 50 WEALTHIEST GREEKS THE NATIONAL HERALD, FEBRUARY 25, 2006