The special paired-share tax break, which was closed to new companies by Congress in the 1980s, infuriates Mr Bollenbach.

ECONOMIST: The bid for ITT

Yucaipa's two other nominees include StephenBollenbachStephen Bollenbach, chairman of KB Home, and Michael McQuary, chief executive of Wheego Electric Cars.

FORBES: Magazine Article

Mr Bollenbach, who previously wrought wonders at Marriott and Disney, has much more experience in the leisure business than Starwood's Mr Sternlicht, by instinct a property man (although he recently bought Westin, an American hotel chain).

ECONOMIST: The bid for ITT