People, Jan. 2, 1978

Some Christmas cheer for Bert Lance. First, Saudi businessman Ghaith Pharaon said he would pay $20 a share (more than 33% above the going rate) for 120,000 shares of the former Budget Director's stock in the National Bank of Georgia. The $2.4 million deal should leave a fat profit (a third of a million or so) in Lance's stocking. Then there was a gift from Wife LaBelle: a family portrait by Atlanta Artist Comer Jennings. LaBelle especially liked how Jennings painted her diamond pendant—the "broken heart," as she calls it, that Bert gave her after he resigned.


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