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ARMS began to attract attention when interest rates started rising in the late 1970s. A year ago, an increasing number of home buyers viewed the ARM as the niftiest invention since aluminum siding. In November 1982, Houstonites Sheila and Bert Christensen would have been unable to afford their four-bedroom house at the daunting 15% going rate for a conventional mortgage. But with an ARM, the computer repairman and his wife paid an initial rate of just 11⅞% on their $85,000 home. Now they wish they had never heard of ARMS. Last January their lender boosted the rate...

Author: /time Magazine | Title: Up in ARMs | 6/4/1984 | See Source »

...last batch of primaries. At week's end state party leaders met in San Francisco. They hammered out convention logistics but mended no fences. "If Mondale had won all four primaries, this meeting would have been the start of the call for unity," said Georgia Party Chairman Bert Lance. "I guess unity has been delayed for a while." The Mondale camp had hoped the convention would be a four-day media event extolling the party and excoriating the President. But it could easily disintegrate into a bitter struggle over rules and delegate credentials, with Hart and Jackson hitting Mondale...

Author: /time Magazine | Title: Snakebit on the Long Trail | 5/21/1984 | See Source »

...Democratic National Committee. The experts say that dual primaries do not necessarily discriminate against blacks. A study of nearly 200 state elections in Texas, for example, did not disclose a single instance of a candidate's losing because of his race or ethnicity. Georgia Democratic Party Chairman Bert Lance says he is prepared to "go to the wall" to defend the system. Party leaders have a more immediate concern: that Jackson will angrily stalk out of the convention if his demands are not met, taking with him the Democrats' chance to win back the White House...

Author: /time Magazine | Title: Pride and Prejudice | 5/7/1984 | See Source »

...state rewrite of election laws. Jackson replies that the party and its nominee could pledge to attack runoff primaries in court as violations of the federal Voting Rights Act of 1965. In any case, white Southern Democrats would fiercely resist an attack on runoffs. Says Georgia Democratic Chairman Bert Lance: "We are a majority-vote nation." Lance professes to be a friend of Jackson's but asserts that if Jackson presses an attack on runoffs at the convention, "he will run into a fellow who will go to the wall with...

Author: /time Magazine | Title: What Does Jesse Really Want? | 4/16/1984 | See Source »

...team was not immediately renamed, but the Indianapolis Colts sounds as hollow and sad as the city of Baltimore must feel. Johnny Unitas. Gino Marchetti. Lenny Moore. Jim Parker. Raymond Berry. Art Donovan. Alan Ameche. Bill Pellington. Jim Mutscheller. "Big Daddy" Lipscomb. Bert Rechichar. Buddy Young. The "sudden death" game of 1958. "Let's go, you Baltimore Colts . . ." No room for all of that in a moving...

Author: /time Magazine | Title: Sport: Sneak Play | 4/9/1984 | See Source »

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