"I set out to build up a big business in the mutual-fund field, and I think I succeeded," said Bernard Cornfeld last week. "But I like to live well, I like the good life andlet's face itI'm a lousy administrator."
Because of Cornfeld's weakness at administration, his Investors Overseas Services, Ltd. was top-heavy with costly employees, expenses outraced income, and the whole structure almost collapsed. Last week Denver Millionaire John King (see following story) signed a deal to give I.O.S. a $40 million transfusion in return for effective control of the company. But the terms revealed were so vague and incomplete...
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