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...hard-pressed defense firms. The General Accounting Office estimates that as much as $150 billion will have to be hacked out of defense plans over the next five years. One reason: giant, multi-year spending commitments in the early 1980s are still rolling through the budgets like a giant bow wave, pushing aside other priorities. One of the biggest is the Northrop B-2, which is now expected to cost $530 million per plane, making it the most expensive weapons system in history. Eliminating the plane would create huge savings, but the effect would be felt across...

Author: /time Magazine | Title: An Era of Limits | 8/7/1989 | See Source »

...striking coal miners, whose walkout at one point threatened to spread to rail workers and paralyze the vast Soviet Union, returned to their pits, mollified by a package of raises, consumer goods and political reform carrying no official price tag but estimated at $8 billion. In a dramatic bow to the intense nationalism of the Baltic republics, which were annexed by the Soviet Union in 1940, the Supreme Soviet, led by Gorbachev, approved a resolution endorsing plans to allow Lithuania and Estonia to manage their own economies freely, outside the control of central planners in Moscow. Baltic economists say they...

Author: /time Magazine | Title: Soviet Union Riding a Dangerous Wave | 8/7/1989 | See Source »

...Chinese government has in the past shown itself extremely unwilling to bow to pressures from outside influences. But many students say that the limited steps that the U.S. has taken have already shown some positive effect. Although the wave of arrests and executions still continues, it is proceeding in a much more low-key style, says...

Author: By Matthew M. Hoffman, | Title: Pushing for Change Across the Ocean | 7/14/1989 | See Source »

...ship's bow dipped ever deeper into the ice-packed sea, members of the 377-man crew passed out blankets and vodka and helped people into lifeboats. When launched, they were soon surrounded by giant ice floes. "While we were sitting in the boats, we thought this was going to be another Titanic," said Harry Delor, 72, of Dusseldorf. "Some panicked, some prayed. We thought the end was near...

Author: /time Magazine | Title: High Seas SOS Under the Midnight Sun | 7/3/1989 | See Source »

...Radcliffe novice eight was the first-ever official national title for a Black and White boat. Racing at Lake Wingra in Madison were bow Kara Berdik, Wendy Svatek, Rosie Hyson, Jolly Stamat, Anne Hardy, Laurisa Shappell, Kristi Stoddard, stroke Amy Constable and cox Maye Chen...

Author: By Michael Stankiewicz, | Title: Oarsmen Capture National Title | 6/26/1989 | See Source »

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