If the maxim "don't mix business with pleasure" rings hollow anywhere, it's Cannes.
With mobile phone in one hand and champagne glass in the other, every wheeler-dealer makes sure big bucks business and hard-core partying go hand-in-hand at the world's most famous film bonanza.
True deal spinners do business down at the yacht harbor, where super-slick boats compete for size.
"There's plenty of serious entertainment, but there's a lot of serious business going on, too," Guy Russell, a London-based executive with Matrix Film Finance, said as he stood on the deck of a luxury ocean-going cruiser.
"Every day, we'll have a lunch, some cocktails in the evening, and then a couple of parties at night, but all the while we're thinking business," he said in a hoarse voice, evidently still groggy from the night before.
All along the harbor side at Cannes are monster yachts chartered by producers, distributors, financiers and any others who want a tie-in to the movie industry.
Registered in the likes of Cape Town, the Cayman Islands and Bermuda, the yacht is the business accessory par excellence at Cannes, not to mention a great place to have a party.
"There's no more beautiful place to do business than Cannes, and if you're here you might as well do it on a yacht," Cindy Rakowitz, head of RaknRoll entertainment, said as she lay on a 150-foot gin palace called "Perfect Persuasion."
"We'll hold 11 parties in as many days on here and it will cost us a fair amount, but it's an investment, like in any business."
While the biggest yachts -- complete with jacuzzis, multi-gyms, speedboats and a deck with space for hundreds -- can cost upwards of $300,000 for two weeks, others go for a more modest $50,000 a week.
Of course, some don't even have to think about renting.
Microsoft billionaire Paul Allen is in town with his hulking white floating palace "Charade." That's the setting for Giorgio Armani's star-studded party for Martin Scorsese, Leonardo DiCaprio and Cameron Diaz..
And it's not just Hollywood millions or technology billions that buy a place on the coveted harbor -- adult entertainment is a growing business with a big presence at Cannes.
High-class pornographic film company Private has at least one super-yacht - "El Harem" - moored along the dock.
Written By Luke Baker
Copyright 2002 CBS. All rights reserved.