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Bush gave Saddam the Saturday deadline after a frustrating week of Soviet efforts to broker a deal that would be acceptable to both Iraq and the allies. Moscow had secured Baghdad's commitment to a supposedly "unconditional" pullout from Kuwait, but the agreement was accompanied by a string of conditions. Washington and its major partners advanced a number of reasons for rejecting the Soviet-mediated offer, ranging from simple distrust of Saddam to news of the scorched-earth policy in Kuwait. But the predominant reason was a feeling that delay was beginning to work against the allies. They were being...

Author: /time Magazine | Title: The Battleground: Marching to A Conclusion | 3/4/1991 | See Source »

...this for the country's real estate promoters: even in the worst of times they are unsinkably optimistic. Yodels Jerry Lumsden, a property broker in Austin whose 27% office vacancy rate is among the highest in Texas: "The trend line is good." The Lone Star State, like the rest of America, is reeling from what many experts consider the most glutted commercial real estate market since the 1930s. The culprit: the 1980s, of course, during which U.S. office space doubled, to 5.38 billion sq. ft. In city after city the industry is overleveraged, overbuilt and underleased. At 540 million...

Author: /time Magazine | Title: The Great Office Giveaway | 3/4/1991 | See Source »

...office buildings and luxurious high-rises built by starry-eyed developers whose failures wiped out their S&L lenders. Just when the feds don't need it, a new small-is-good trend may make unloading those glass- sheathed monsters even harder. "Plush offices are out," insists Dallas broker Wayne Swearingen. "It's not in vogue to show how rich you are." Or were...

Author: /time Magazine | Title: The Great Office Giveaway | 3/4/1991 | See Source »

...most important advantage Iran hopes to gain is the opportunity to emerge as an influence broker in the postwar gulf. Until now, Tehran has been on the sidelines, frustrated at the prospect of being excluded from the horse trading that will take place after the war. Rafsanjani's immediate goal is to head off any possible moves by coalition members, particularly Turkey and Syria, to carve up Iraq after it is defeated. Iran fears that Turkey may claim Iraqi Kurdistan and its oil-rich areas of Mosul and Kirkuk, once part of the Ottoman empire, and that Syria may attempt...

Author: /time Magazine | Title: Iran: The Not So Innocent Bystander | 2/11/1991 | See Source »

...real estate agents have taken to burying statues of St. Joseph, the patron saint of family and home, in the yards of clients in hopes of changing their luck with prospective buyers. "One of my agents heard about it, and his client wanted to try it," says real estate broker Charles Lamb. "She got three offers in 10 days...

Author: /time Magazine | Title: Ho Ho Humbug | 12/31/1990 | See Source »

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