Word: buyer
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Dates: during 1980-1989
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When Chicago's Tribune Co. put the New York Daily News up for sale last December, many journalists and businessmen doubted that a buyer would come forward. Even though it ranks as the nation's largest general-interest paper, the News (circ. 1.5 million) lost at least $ 12.6 million last year and expects to lose anywhere from $25 million to $50 million this year. Indeed, several potential purchasers* seemed more interested in its 1930 Art Deco office tower in midtown Manhattan than in the paper...
...cobalt eyes, he is all compacted energy, like a jack just popping from his box, as he shows up for work around 9. He may begin his twelve-hour day by doing sketches, while his staff sorts out a regimen that, typically, has no rigid schedules or fixed appointments. Buyers who come to the showroom to order a new line are treated, as one of them puts it, "like a guest in Armani's home. Someone offers you a simple cup of coffee. You're not blitzed with champagne, like the other fashion houses. There...
...rejoicing this spring. From Rome's Via Veneto to Beverly Hills' Rodeo Drive, the skirt has moved above the knee. In fact, the miniskirt is back. At Filene's department store in Boston, where one-fourth of all higher-priced junior sales are now minis, Buyer Ann Freedberg exults, "They look right. The timing is right." At the young women's department of Galeries Lafayette, the big Parisian department store, minis are this season's bestsellers. At Chicago's fashionable boutique Ultimo, customers snap up Norma Kamali's short skirts almost as fast...
...bestseller they all ignored: The Coming Currency Collapse and What to Do About It. Cheery statistics of last year can no longer hide the sober economic facts of 1982: higher costs, escalating book prices and dwindling profits. "I haven't seen times like this before," confesses William McCarthy, buyer for the 20-shop chain of Kroch's & Brentano's bookstores in the Chicago area. "The book business is being hit by everything at once: a soft economy, cost increases and an uncertain audience...
Well, yes, The bank or real estate firm pays part of the bill. Does the buyer or depositor pay the other part? No the federal government "pays" for it by uncollected income taxes. The hefty depositor and prospective buyer get a free lunch, without reporting it to the Internal Revenue service...