Word: 80s
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Dates: during 1990-1999
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...estate was heading toward the red when Priscilla took over. There were the taxes and maintenance on Graceland, salaries for hangers-on and family members, the looming depredations of the IRS. By the early '80s, Priscilla, now both trustee for the Presley estate and president of EPE, had recruited her own money manager, a Kansas City, Mo., businessman named Jack Soden, and the two of them set about figuring out what to do with the estate. The most obvious move, which they explored, would have been to sell off Graceland; one potential buyer, the city of Memphis, did a feasibility...
With money flowing in from Graceland, EPE could afford to turn its attention to a thornier problem: controlling Elvis' name and likeness. Earnest collectors of Elvisabilia remember the late '70s and early '80s as a woeful time when shoddy gewgaws--Elvis toenail clippers, vials of "Elvis Presley's Sweat"--were sold with impunity and by companies that paid no licensing fees to EPE. At issue was what is known as "rights of descendability of publicity"--legalese for the ability of a famous person to control the use of his or her name and likeness. Existing law, while not entirely clear...
...pushed Japan into an economic league of its own. No other country had such low unemployment and low inflation; the rest of the world struggled with stagflation (high unemployment and inflation). Japan racked up some $400 billion in trade surpluses in the decade. Indeed, by the end of the '80s, Japan had reached a standard of living that exceeded the U.S.'s (besting it by 17% as measured by gross national product per capita). Japan's ability to improve products and lower prices compensated for its lack of world-class technological innovation...
Gold prices have steadily declined since the '80s because with roaring stock markets and low inflation worldwide, sitting on noninterest-bearing gold makes little sense for governments. "There's no point in holding it," says Dale Henderson, a gold specialist at the Federal Reserve. That's true for individuals too. It doesn't mean you should sell your jewelry at a discount. Inflation could someday return, and besides, T-bills make lousy necklaces...
DIED. SIR JAMES GOLDSMITH, 64, billionaire financier; of a heart attack after a long battle with cancer; at his villa near Malaga, Spain. Goldsmith made his nut with pharmaceuticals and groceries and parlayed it into a fortune as a corporate raider in the '80s, acquiring high-profile targets. A legendary gambler, his business motto was "If you can see a bandwagon, it's too late to get on it." Late in life he started one of his own, founding Britain's Referendum Party, which opposed the European common currency. His warm and very extended family included his third wife...