Word: businessman
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Dates: during 1970-1979
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Born. To Sweden's Queen Silvia, 33, commoner daughter of a West German businessman, and King Carl XVI Gustaf, 31: their first child, a daughter; in Stockholm. Name: Victoria. The first child born to a reigning Swedish king and queen in 178 years, Victoria can inherit the crown only if Sweden's constitution is revised to allow a female to become monarch...
...course, the Soviet people knew which way the wind was blowing. American High Jumper Teresa Smith, competing in a Soviet-American track meet, felt the chill in the Black Sea town of Sochi: "In Germany, we got applause even on our warmup jumps. Here, nothing." Said an American businessman in Moscow: "I called a good Russian friend the other day and asked to see him. He replied: 'I just can't fit it in this week, my friend. How about November...
...muses one Saudi Arabian businessman about his country's frenetic pace of development. His comments point to a paradox of swiftly growing importance for the world economy. By many of the standard measures of power, Saudi Arabia should be a weak state. Its population is sparse: only 7.5 million people in a country twice the size of Western Europe. Its army is tiny: a mere 35,000 men. Economically, the country is only in the beginning stages of industrialism. It suffers from what elsewhere would be debilitating inflation (prices are rising about 40% a year), and so many...
...greatest status symbols is heavy drinking. Booze is strictly prohibited in Saudi Arabia, but vast numbers spend their new riches on getting smashed every day. This is a sign of great wealth, since bootleg Scotch sells for $120 a bottle. One Saudi businessman risked penalties by importing his whisky disguised as crated furniture. One day a worried customs official called him from the airport. "You'd better come and pick up your crate of furniture quickly," he warned. "It's leaking...
Chic Oasis. To compound the problem, the fund's old trustees placed a lot of trust-and money-in a few individuals. At one point, Allen Click, a boyish businessman who controls the Stardust and Fremont casino-hotels in Nevada through Argent Corp., owed $146 million. He has since turned back some California and Texas properties and reduced his obligations to about $90 million. His casinos are being investigated by the Clark County (Las Vegas) district attorney and the Nevada Gaming Control Board following charges that substantial sums were skimmed from the slot machines. La Costa Land Co., which...