There are three things that every Englishman seems to have: a pet, an umbrella and a Lew Grade story. As Britain's most prominent show-business entrepreneur, jowly, Goldwynesque Lew Grade enjoys a following that is not so much doting as anecdoting. His custom-made, 7¾-in. Cuban cigars are an indispensable prop of cartoonists. His multimillion-dollar deals get him lampooned as "Low Greed" in the satirical magazine Private Eye. He even has his own favorite story about himself. It concerns a little girl who asked him if he knew what two and two make. "Buying or selling?" he replied. It is no truer...

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