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...1970s. Loews had bought a $40 million stake in the Franklin National Bank, which was sold to Michele Sindona, an Italian financier. When the bank later failed, Sindona was convicted of looting its assets, and Loews was sued by the Federal Deposit Insurance Corporation and a bankruptcy trustee for breach of fiduciary duty and misuse of inside information. Without admitting any wrongdoing, Loews agreed to pay $1.2 million to settle the suits...

Author: /time Magazine | Title: All in the Family Fortune | 9/22/1986 | See Source »

Inside the steamboat's Aft Cabin Lounge, an American peace cruiser spoke to Grechko in a loud voice, enunciating with that exaggerated care that is used to breach the language gap. "I couldn't go on the Volga Peace Cruises because I'm afraid to fly," she said slowly, referring to the seven such voyages down the U.S.S.R.'s Volga River, which first began in 1982. "So I took a train to get to this one." Smiling, Grechko paused for a moment to look away from the woman, as though he did not understand her. "I know," he said finally...

Author: /time Magazine | Title: On the Mississippi: Cruising Peaceful Waters | 8/18/1986 | See Source »

...week's activities did little to clear up confusion among news editors over just what constitutes a breach of the law in Casey's book. NBC News President Lawrence Grossman said the CIA's move "caught us by surprise," since the network had aired virtually the same report last November, when Pelton was arrested. Indeed, details on similar submarine eavesdropping operations were revealed in articles in the New York Times and Washington Post as early as the mid-1970s, and the code name Ivy Bells was used by Pelton's attorney in a pretrial hearing...

Author: /time Magazine | Title: Press: Questions of National Security | 6/2/1986 | See Source »

...week. Abandoning SALT II would be a blow to the sputtering arms-control talks that resumed in Geneva last week. The timing could also be awkward: the Soviets are now hinting that they may agree to a Washington summit between Reagan and Mikhail Gorbachev in December, just when the breach would occur...

Author: /time Magazine | Title: Salt Shaker | 5/19/1986 | See Source »

Last year, after months of feuding, the Pasteur team, headed by Dr. Luc Montagnier, filed two legal actions in the U.S. The first challenged a patent on the blood test awarded to Dr. Robert Gallo and his colleagues. The second charged Gallo with breach of contract for allegedly using for commercial purposes samples of virus sent to him by the French. Gallo had agreed to use the samples for research purposes only...

Author: /time Magazine | Title: Medicine: A Different Kind of AIDS Fight | 5/12/1986 | See Source »

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