Bill Rancic Defends His Wife Giuliana After Fashion Police Controversy: 'I Tried to Get Them to Release the Footage' 41 years, 2,185 covers and 55,435 stories from PEOPLE magazine's history for you to enjoy
- Oops!... She Did It Again: Britney Spears Adorably Recreates Album Cover with Sons in Disneyland
- Read the Cover Story: Growing Up Kennedy!
Exclusive Family Photos from White House Nanny
- Beyoncé Had a Better Fourth of July Than You, Partied With Solange, Kelly Rowland and Missy Elliott
- Which Mistresses Star Wants to Meet Halle Berry in the (Ahem) Bedroom?
- Maine Man Killed Instantly After Setting Off Firework on His Head
On Newsstands Now
- Matthew McConaughey: In His Own Words
- Jessa Duggar's Wedding Album
- Brittany Maynard's Final Days
Pick up your copy on newsstands
Click here for instant access to the Digital Magazine
People Top 5
LAST UPDATE: Tuesday February 10, 2015 01:10PM EST
PEOPLE Top 5 are the most-viewed stories on the site over the past three days, updated every 60 minutes
- February 17, 1992
- Vol. 37
- No. 6
Hello Again, Mr. Chips
Battered Once, Wally "Famous" Amos Tries for a Second Cookie Fortune
His troubles began, Amos admits, mostly because of his own mismanagement. Despite robust sales, by 1985 his business was losing money. To stop the hemorrhaging, Amos brought in outside investors. Soon the company had changed hands four times. Each time, the new partners gobbled up more of share until, he says, "I lost all equity in the company."
Frustrated—but still being paid $175,000 a year as a pitchman—Amos, a high school dropout who grew up in Harlem, quit in 1989 and signed a two-year "noncompete" agreement. "I thought it was more important for me to be free and start again," he says, "than to be tied up with people that didn't want me." He began giving motivational speeches at $5,000 a pop and drew on his pension funds and IRAs As when engagements were slack. Then last year, when his noncompetition agreement ended, Amos began his comeback.
His new venture, called Wally Amos Presents...Chip & Cookie, includes new munchies with the old pecan-packed chocolate-chip recipe (which Amos feels his old company's new owners have tampered with) as well as Chip and Cookie dolls, children's hooks, T-shirts and cookie jars. Launched last fall, the new cookies and their companion merchandise are already being sold at five J.C. Penney stoics in Hawaii. where Amos lives with his third wife. Christine, 44, and their daughter Sarah, 8. Next, he predicts, will be a mail-order division, possibly by year's end.
This time, says Amos, he has assembled a money-wise management team and vows not to get burned again. "If Famous Amos was the movie," he says, "this is the sequel."
Treat Yourself! 4 Preview Issues
The most buzzed about stars this minute!