The story examines Silverman's attempts to re-establish Cendant's profitability, reputation, and market evaluation following its April 1998 disclosure of «financial irregularities» in
the CUC International unit of the company, which was merged with HFS only a few months earlier to form Cendant.
An $ 11 billion merger is pending with Stamford, Conn. — based
CUC International Inc., which would add that company's discount shopping clubs to HFS
units.