Unusual Endorsement

Armand Hammer was arguably larger than life while alive. Now his words live on, helping to sell a book.

Last week, Warner Books published “Supermarketer to the World,” E. J. Kahn Jr.’s biography of Dwayne Andreas, chief executive of Archer Daniels Midland.

Splashed across Warner ads for the book is a quote from Hammer calling the book a “terrific read.” The late industrialist’s words are also highlighted on the back of the book jacket.

The quotes seem curious given that Hammer died last December, more than nine months before the book hit stores.

But a Warner Books spokeswoman said Hammer did indeed read an early copy of the book shortly before he died, adding that the quotes come from a letter Hammer sent to the publisher in September, 1990.

She said Hammer admired Andreas----who sometimes is called “the new Armand Hammer” for his business dealings with the Soviet Union--and that Hammer “believed very strongly in what Andreas stands for.”

Champagne Wishes

Giancarlo Parretti may not like French bankers anymore, but he still likes the country’s Champagne.

The embattled former movie mogul testified last week in Delaware Chancery Court, where he is seeking to regain control of MGM-Pathe following his ouster by the French-owned bank Credit Lyonnais, the studio’s main lender.

Testifying in Italian, Parretti described through an interpreter how he and several bankers celebrated one day last spring with Champagne at a Los Angeles restaurant after MGM-Pathe narrowly escaped being forced into bankruptcy by its creditors.

“French Champagne, I might add,” Parretti told the judge. “Because I didn’t want any California champagne.”

Bargain Basement Price

To get an idea of the problems faced by the Resolution Trust Corp., consider the S&L; mop-up agency’s prospects for getting a decent price for the Doubletree Resort Hotel near Palm Springs.

Two months ago, real estate experts said the agency would be lucky to get $20 million for the 289-room hotel and golf course, which taxpayers inherited when Gibraltar Savings & Loan was seized. Now it appears that the RTC may not even come close to getting that amount for the resort, scheduled to be auctioned Nov. 21.

Last week, the agency published the “reserve price” for the $35-million resort--$9.1 million. That equates to the minimum price the government will take with no strings attached. It works out to 26 cents on the dollar.

Briefly . . .

Help wanted: The Peace Corps is seeking “an adventurous banker” to work as an information systems specialist in Mongolia . . . The Leningrad Yacht Club and Stolichnaya-brand vodka say they will underwrite a yacht called the Red Star to challenge for the America’s Cup . . . Times are so tough in glitzy Century City that the Chamber of Commerce is offering three months of membership free to those who buy an annual membership in October and a free wristwatch to the first 20 who take advantage of the discount offer.