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Turning out Academy Award-winning films is no guarantee of financial success, or even survival. Just ask Orion Pictures, which filed for Chapter 11 bankruptcy protection last week. Despite such recent commercial and artistic hits as Dances with Wolves and Silence of the Lambs, the studio, known for * allowing directors considerable creative freedom, was unable to support $570 million in debt and other obligations. The bankruptcy was triggered when bondholders decided to halt final negotiations on a deal to swap $285 million of debt for 70% of the motion-picture studio's stock...

Author: /time Magazine | Title: Hollywood: Dances with Creditors | 12/23/1991 | See Source »

...Community had little difficulty accepting joint action or increased cooperation in the areas of industrial affairs, health, education and immigration. But labor policy proved far thornier. Eleven members signed a "social chapter" that expands E.C. authority over labor practices, including minimum wages, working hours and firings. Again Britain opted out -- hardly surprising, given the years of Thatcherite determination to loosen labor unions' stranglehold on the country's economy...

Author: /time Magazine | Title: European Community: Blueprint for the Dream | 12/23/1991 | See Source »

When Ronald Carey declared that he would run for the presidency of the Teamsters Union two years ago, most labor experts considered the reform candidate a do-gooder with little chance of winning. A virtual unknown outside ; the New York City borough of Queens, where he heads a local chapter representing 6,600 truck drivers, Carey did not have the support of regional union officials. Moreover, his rivals outspent...

Author: /time Magazine | Title: Labor Unions The Good Guy Finally Won | 12/23/1991 | See Source »

Never mind that he was wrong. Most decisions of the UN General Assembly, including the "Zionism is Racism" resolution, do not in fact have the status of international law. (See the UN Charter, Chapter IV, Articles 10-14.) No big deal. After glancing at the paper in my hand, I had few illusions that our discussion would deal with verifiable facts. (The first line of the SAS flier said that the UN would vote on the "Zionism is Racism" resolution on December 17. The vote was yesterday. Check the date at the top of this page, and then...

Author: By Richard A. Primus, | Title: Zionism Isn't Racism | 12/17/1991 | See Source »

...scholars observed last week, the '70s was the decade of terrorism and the '80s the decade of hostages, there is sure to be a new nightmare waiting. This chapter, now nearly closed, is not the end in a part of the world where all too often old hatreds die hard, people are pawns, and lives are meant for sacrificing. Two Germans remain imprisoned, and all accounts remain unsettled. But after all this, perhaps it is not too much to hope that last week brought a portent of peace to a waiting world tired of weeping over the opportunities...

Author: /time Magazine | Title: Delivered From Evil | 12/16/1991 | See Source »

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