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Attempts to influence news reporting, however, are not always prompted by such laudatory aims. Professional publicity experts have made a multibillion- dollar industry out of copping column inches and airtime for everything / from smokers' rights and rap records to haute couture and the Trump bust-up. And the White House has raised press manipulation to a virtual art form, often for the narrowest political motives. The Reagan Administration, led by the Great Persuader himself, was notorious for its spin control. Last week the Reporters Committee for Freedom of the Press, a Washington-based watchdog group, issued a report detailing nearly...

Author: /time Magazine | Title: Press: Shopping in The News Bazaar | 3/26/1990 | See Source »

...bust business has attracted some unlikely saviors. Shortly before it declared bankruptcy last month, Drexel Burnham Lambert beefed up a unit that advised distressed companies. The move was viewed with cynicism by some on Wall Street since Drexel, through its junk-bond financing of buyouts, was a prime contributor to today's bankruptcy boom. Other improbable rescuers include First Boston, which advised Campeau to borrow more than $10 billion to buy Bloomingdale's, Jordan Marsh and seven other U.S. store chains. Some critics attack Wall Street firms for profiting from both the debt buildup of the '80s and the subsequent...

Author: /time Magazine | Title: The Profits Of Doom | 3/19/1990 | See Source »

...Soviet Union was in the midst of disempowering the Communist Party. Germany was hurtling toward unification. Nelson Mandela was transforming the future of South Africa, and Drexel Burnham Lambert was pronouncing obsequies over the go-go greed of the '80s. But the connubial bust-up of the billionaire New Yorkers was the talk of the town. For that matter, of practically every town. Their story made the network newscasts and countless columns across the U.S., and once the split became a fait accompli, gossipists gleefully predicted that ramifications -- from a rowdy settlement battle to the wooing of new partners -- might...

Author: /time Magazine | Title: Gossip: Pssst...Did You Hear About? | 3/5/1990 | See Source »

...Wall Street's investment bankers are lining up for their share of the money to be made from the wreckage of the '80s. Observes Robert Reich, professor of political economy and management at Harvard's Kennedy School of Government: "Much of the impetus behind the leveraged buyouts was to bust up companies that were frantically put together in the '70s. Many times it was the same investment bankers and lawyers who then proceeded to take them apart in the '80s. In the '90s these same teams will work on reducing debt loads to strengthen core businesses...

Author: /time Magazine | Title: Predator's Fall: Drexel Burnham Lambert | 2/26/1990 | See Source »

Harvard raised some eyebrows this fall when it brashly decided to sue Merrill Lynch for $135 million after an investment went bust...

Author: By Gregory B. Kasowski, | Title: Harvard Wins the First Round in Court | 2/24/1990 | See Source »

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