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Because of its huge losses, Home State will be allowed to reopen only if it is merged with a much larger bank. Manhattan's Citicorp and Chemical New York are showing interest but have made no commitments. Home State's customers desperately hope for a buyer to come along because the new Ohio legislation does not require the failed bank to give them even the $750 a month. The depositors are not likely to suffer quietly. More than 50 marched last week into the Ohio statehouse, chanting "We want our money back...

Author: /time Magazine | Title: Putting a Stop to a Stampede | 4/1/1985 | See Source »

...airwaves, and shows strong indications of being the smash of the decade. At Tower Records' Sunset Boulevard store in West Hollywood, 1,000 copies were sold in two days. "A No. 1 single sells about 100 to 125 copies a week," explains Richard Petitpas, the store's singles buyer. "This is absolutely unheard of." Ken Barnes, editor of the trade magazine Radio & Records, says We Are the World was put on the air in its first week by 91% of the 256 radio stations that are regularly polled for the magazine's survey. "That is probably as close...

Author: /time Magazine | Title: Show Business: Forty-Five Voices | 3/25/1985 | See Source »

...money loser, the Times was shut down for a year in 1978 and 1979 by striking craft workers, who opposed the installation of modern technology. In October 1980, faced with mounting deficits, then Owner Lord Thomson said he would fold the Times unless he found a buyer within five months. When he found one, his choice seemed to much of the staff, and to many of the Times's top-drawer readers, a fate worse than death: Australian Press Lord Rupert Murdoch, proprietor of the tabloid daily Sun, which features screaming headlines and photographs of naked women, and the equally...

Author: /time Magazine | Title: Press: Happy Birthday, London | 3/11/1985 | See Source »

Delbert considered selling the farm twelve years ago, when a buyer from Iowa offered a good price. But he asked his son, "Do you want this farm? If you say yes, I'll tell these men to go." Philip did not want his father to sell, and five years ago the value of the farm reached nearly $900,000. But then came bad times. Father and son ran up a combined debt of about $250,000. The value of the farm dropped to roughly $400,000. Now the Kahouns are struggling just to hold on to the place...

Author: /time Magazine | Title: Clinging to the Land | 2/18/1985 | See Source »

...regulations that forced investors to put up more cash. The Federal Reserve got the authority to establish the minimum amount, which at times has been 100% but is currently 50%. A $1,000 stock purchase must now be backed by $500 in cash from the buyer...

Author: /time Magazine | Title: Regulation: Trading Stock on the Margin | 1/28/1985 | See Source »

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