Documentary Production and Distribution News
Perilune Pictures Completes Documentary on Life of Louis Wolfson, the First Corporate Raider on Wall Street
By Staff
posted Mar 1, 2010, 12:29
Perilune Pictures, a startup film company based in Savannah, Georgia, is scheduled to release the film "L.E.W.," a documentary based on the life of America's first corporate raider, Jacksonville, Florida native Louis Wolfson. Wolfson is credited with creating the leveraged buyout and creating a new era on Wall Street.
(Savannah, GA) Perilune Pictures, a startup film company based in Savannah,
Georgia, is scheduled to release the film "L.E.W.," a documentary
based on the life of America's first corporate raider, Jacksonville, Florida
native Louis Wolfson. Wolfson is credited with creating the leveraged buyout
and creating a new era on Wall Street.
"We felt a film about Lou Wolfson would be well-received in this era of
high finance on Wall Street," said Perilune Pictures founder Sidney Doran,
who started the company with his brother in law, Sy Wolf. "We have shown
early versions of the film to some of today's legendary hedge fund managers
and they are all intrigued and inspired by his life," said Wolf, who also
directed the film.
The film covers the launch of Wolfson's business career in the 1940s, when
he borrowed $10,000 to expand his father's Jacksonville, Florida-based scrap
metal business into controlling stakes in commercial and industrial companies
throughout the United States. His reach was so vast and diverse that he even
launched the film career of comedian Mel Brooks after Wolfson financed his first
film, "The Producers." Wolfson went on to invest in bridge and dam
construction, major shipyards, American Motors Corp. and Capital Transit Company,
the precursor to the Washington, D.C. Metro. By the mid-50s, Wolfson's net worth
was estimated at over $250 million, making him one of the wealthiest and most
feared men in corporate America.
The filmmakers discovered new archival material about Wolfson, including his
role as the major financier behind John F. Kennedy's bid for the presidency,
as well as his involvement with US Supreme Court Justice Abe Fortas, who was
forced to resign from the court after receiving payments from Wolfson. After
a controversial investigation by the S.E.C., Wolfson was convicted of insider
trading in 1967. In 1971, talk show host Larry King was arrested for embezzling
money from Wolfson in Miami. "We discovered some evidence that he may have
been using King in an attempt to bribe President Nixon to secure a presidential
pardon," said Doran.
After serving nine months in a federal minimum security prison in Florida,
Wolfson left Wall Street to devote the rest of his life to horse racing. In
1977, his horse, Affirmed, won the Triple Crown. Many considered the victory
a redemption for a man who was once considered one of the greatest businessmen
in the country. Wolfson passed away at the age of 95 in 2008. To date, no horse
has won the Triple Crown since Affirmed.
The film was written by Max Bachus, a screenwriter based in New York City who
actually knew one of Wolfson's first accountants. "Anyone who met Wolfson
was aware they were in the presence of greatness," said Bachus. "The
film explores the life of the first true corporate raider on Wall Street, someone
largely forgotten by modern-day Wall Street financiers. They all owe Wolfson
a debt of gratitude for the legacy he created."
The documentary is being released in mid-March. Perilune Pictures has set up
a website for the film "L.E.W." including a trailer and background
information of Wolfson's life at http://lewthemovie.blogspot.com.
Resources:
Perilune Pictures: http://lewthemovie.blogspot.com
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