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Financial News Network was an idea tailor-made for the money-mad 1980s: a U.S. cable-TV channel providing a constant stream of business programming and Wall Street statistics. Such upscale, upbeat offerings as Money Talks and Power Profiles have attracted 35 million subscribers. But as the economy slides into the nervous '90s, capitalism's live wire is having capital problems of its own. FNN has acknowledged that with $158 million in debts and only $5 million in cash on hand, the network can no longer meet its operating expenses. Most of the debt is tied to the cost...

Author: /time Magazine | Title: MEDIA: Faint Signal At FNN | 11/12/1990 | See Source »

...problem goes deeper. Last week, when news of the Chunnel breakthrough was announced, the Sun, Britain's leading tabloid, cautioned its readers, "It won't be long before the garlic-breathed bastilles will be here in droves once the Channel Tunnel is open." Deep in the British psyche there is a conservatism about ending the island-nation status. Labour Party transport spokesman John Prescott calls this attitude one of England's greatest problems. "We're going to have to be more reoriented toward Europe," he says. In spite of Britain's reservations, when the main breakthrough occurs...

Author: /time Magazine | Title: Europe An Island No More Hello! Allo! | 11/12/1990 | See Source »

...last Ice Age, when meltwater covered the land bridge joining the British Isles to the mainland. On Oct. 30 a team of workers at the face of the French section of the service tunnel that is being bored 131 ft. below the bed of the Channel waited for a thin steel probe, drilled from the British side, to pierce the wall of chalk marl in front of them. The 2-in.-diameter aperture opened by the probe could not be seen at first, but then the British crew sent a blast of compressed air through the hole, blowing...

Author: /time Magazine | Title: Europe An Island No More Hello! Allo! | 11/12/1990 | See Source »

...probe breakthrough confirmed that French and British tunnelers were within striking distance of completing the first tunnel under the English Channel. Measurements taken through the probe hole showed the two approaches were out of line by a horizontal distance of only 20 in. after huge boring machines had chewed their way through 24 miles of undersea chalk. Said a spokesman for TransManche Link, the Anglo-French consortium responsible for design and construction: "It was like throwing out a line to the moon and getting within a 10-ft. circle." The remaining 325 or so feet of chalk separating...

Author: /time Magazine | Title: Europe An Island No More Hello! Allo! | 11/12/1990 | See Source »

Mystery Science Theater 3000 has origins in the heartland as well: the show began life on a Minneapolis UHF station before being picked up last November by cable's Comedy Channel. Crummy old movies (Rocketship X-M, The Corpse Vanishes) are unspooled in their entirety, while three characters -- one human being and two gabby robots -- offer wisecracking commentary at the bottom of the screen...

Author: /time Magazine | Title: Video: My In-Law, The Housefly | 10/29/1990 | See Source »

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