Fred Saxon was the first to
leave the band and ended up working at Rainbow for Ernie
while on a break at Club Cliche where The Sunliners were
playing, Fred mentioned to me that there were problems over
at Rainbow between Ernie and his partner, John Merlino.
Apparently Ernie needed $100,000 to buy him
I had some money saved but
not enough to do a deal of this magnitude. However, I did
know that my
wife's aunt was married to a guy called Al Sherman, who was famed for taking
risks, and I contacted him at my earliest convenience.
I explained the deal to Al, his response was
'do they need cash?' Al
was a professional gambler and entrepreneur. He was also
immediately contacted a brilliant young Jewish lawyer
by the name of Ira Jaffe. Ira had a Harvard law degree, and
an engineering degree, just to back up the fact he had
He also brought in
Kurt Swiger, who was a very good Certified Public
Accountant, and they started
digging into things.
Merlino was bought out for $22,000.
Notes thanks to