Word: chairman
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Dates: during 1980-1989
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Another key reason for the rising interest rates is the federal budget deficit, which is expected to total $137 billion in fiscal 1990. Paul Volcker, the former Fed chairman and now a Wall Street financier, warned a congressional commission last week that unless the Government reduces its huge borrowing needs, "there is the risk of a real financial disturbance. It would bring about the kind of recession that would be the most difficult to handle." One way in which the deficit has triggered higher rates is by undermining foreign confidence in the dollar, which plunged more than 3% against...
Geffen started his own label, Asylum, in 1970 and became the leading purveyor of the California Sound. Among his artists: Linda Ronstadt and Jackson Browne. After selling Asylum to Warner Bros. in 1972 and running it for three years, Geffen spent an unsatisfying year as vice chairman of Warner's movie division. "I had to deal with bureaucracy and politics. It just didn't work," he explains...
Geffen wasted no time moving back into show business. In 1981 he started Geffen Records under an arrangement in which Warner Communications financed the fledgling company and distributed its products. As Geffen launched his second career, his colleagues noticed a difference. Says Mo Ostin, chairman of Warner Bros. Records: "David is still incredibly tough and ambitious, but he softened considerably after the cancer scare. He's far more concerned about people than in his previous incarnation." Before long, Geffen signed up the likes of Elton John, Peter Gabriel and John Lennon and Yoko Ono. He branched into theatrical ventures...
...visa to Yasser Arafat so that he could address the General Assembly. The Arab- sponsored resolution gave Washington 24 hours to "reconsider and reverse" its decision. As expected, Secretary of State George Shultz, who made the decision in the first place, refused to yield, reasserting that Arafat, as chairman of the Palestine Liberation Organization, was an "accessory" to terrorism and consequently barred under American law from entering the U.S. Two days later the General Assembly passed a second resolution, by a vote of 154 to 2, announcing a plenary session in Geneva, Dec. 13 through 15, for the express purpose...
...common terrorist, he failed. Arafat emerged from the confrontation with his reputation enhanced -- as something of a martyr to Shultz's intransigence. If the Secretary sought to deny Arafat the kind of prominence that a U.N. visit would bring, he produced the opposite: a publicity bonanza for the chairman. "Had the U.S. let him come, he would have been news for a day or two," said an Arab diplomat. "Now he will be a hot news item for weeks." When the General Assembly convenes in Geneva, Arafat can expect to bask in the warmth of considerable international sympathy and unified...