Embarrassed by Remark
The Aug. 11 “Hot Property†column stated that Kareem Abdul-Jabbar is one of the 35 investors in a newly formed group that has purchased the old Hotel Redmont in Birmingham, Ala. This is true. However, the column said: “The group, known as ITB Enterprises (ITB stands for something funny and fascinating but unprintable in a family newspaper) is a California corporation . . . .†This is inaccurate.
As business manager for both Kareem Abdul-Jabbar and Ralph Sampson, I want to let you know that they, along with Barry Ross, the general partner and the other investors, are personally embarrassed about the ITB remark. For the record, ITB stands for “In the Black.†The intention of the investors was to have a name that described the financial goals of the organization as opposed to being “In the Red--ITR.â€
THOMAS M. COLLINS
Los Angeles
Editor’s note: A spokesman for Karina Hotels, the management firm for ITB hotel properties, gave our columnist two meanings for ITB. “In the Black†was just one of them.
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