Word: bulls
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Even on the field of love, Romano lacks solemnity. In the sequence in which he begins to woo Anna, he tells a hilarious cock-and-bull story about his life. Anna asks him how he injured his leg. "Have you heard of Vesuvius?" he asks her. She has indeed heard of the volcano and knows it erupted several centuries before, so Romano changes his story to "My ancestors were from Pompeii...
...Charles Alexander's lunch of salad and Pepsi Free sat untouched on his paper-strewn desk. Alexander, the editor of TIME's Economy & Business section, had spent the past nine hours blocking out this week's 24-page cover on the cataclysmic demise of the five- year-old bull market. Just after the market closed on Black Monday, editorial queries went out to an army of more than 25 TIME correspondents in 20 financial capitals around the world. Before long, their reports would begin hitting the In baskets of 30 editors, writers and reporter-researchers in New York City...
Donald Trump could not resist crowing. The flamboyant Manhattan real estate developer confided to journalists last week that he had foreseen the end of the long bull market in August, when the Dow Jones industrial average neared its peak of 2722. Trump, 41, had accordingly cashed in the bulk of his stock holdings, some $500 million worth of shares in Allegis, Holiday Inns, Bally Recreation and other companies. As Black Monday loomed for less fortunate investors, the tycoon claimed he had made a net profit of some $200 million. Now, Trump declared, he intended to "stay in cash...
...bearish rout on the stock exchange turned facile assumptions about the 1988 race into so much bull. It silenced complaints that the campaign was devoid of cutting issues and dashed Republican hopes of an election predicated on the Reaganite themes of stability and prosperity. The political futures index tilted toward the Democrats, as mayhem in the markets revived fears of recession. Four times in this century the Democrats have regained the White House following a Republican incumbency, each time against the backdrop of a sharp economic downturn...
There is plenty of shrinking to do, since during the long bull market U.S. securities firms simply grew and grew. Employment in the nationwide industry rose from 273,900 in 1982 to 450,600 last August. Wall Street jobs, which account for one out of every three U.S. securities positions, grew 57% in that time...