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...banks and financial-services firms are exposed, including Bank of America, Citigroup, Deutsche Bank and GE. Citigroup holds an estimated $335 million of WorldCom bonds and could face lawsuits as a result of its cozy ties to the telecom. In May 2001 Citigroup co-underwrote, along with J.P. Morgan Chase, an $11.9 billion WorldCom bond issue. Buyers of those bonds may move to sue the banks, claiming they failed to properly inspect WorldCom's books...

Author: /time Magazine | Title: WorldCon | 7/8/2002 | See Source »

Shot on digital video, Atanarjuat has the clarity of a dream. The northern sky is so bright it could give a viewer sunburn. In the film's long chase scene, when Atanarjuat runs naked across the snowy wastes to escape Oki, cinematographer Norman Cohn catches the majestic subtleties of Arctic dawn, noon and sunset...

Author: /time Magazine | Title: Movies: The Ice Storm Cometh | 7/8/2002 | See Source »

...Taufik was handed a rare no. Freeport had acted as guarantor for the original loan from Chase Manhattan of $315 million, which enabled Hasan to buy the shares. It had also pledged to lend Hasan's company any shortfall on the interest payments not covered by dividend from the stock, a sum that had climbed to some $69 million by late 2001. Freeport withdrew its guarantee and paid off the $253.4 million remaining on the loan. In return the company got back the troublesome 4.7% stake. Freeport says the decision to repay the loan came after Hasan's company said...

Author: /time Magazine | Title: Looming Large | 7/8/2002 | See Source »

...fellow traveler in the life devoted to pursuing stars. But Warhol was at the same time a celebrity himself. He had invitations to all the parties--and gave quite a few of them. Galella was the guy who had to hang around outside expensive restaurants, then chase the well-fed celebrities to their waiting limousines. What the two men had in common was anger. While it may be true that Warhol used to kiss the Manolo Blahnik boots of the stars, in some of his Polaroids of the famous at play you sense the same undertow of loathing you find...

Author: /time Magazine | Title: Photography: Freeze-Frames | 7/1/2002 | See Source »

Which brings us to Galella and Jackie. For years, he pursued her everywhere. (Everywhere, indeed--one of his pictures is called Jacqueline Kennedy Onassis Leaving a Store in Peapack, N.J.) Jackie was his white whale, his pearl of great price, his Holy Grail. The chase ended up in suits and countersuits between them. The last court battle, in 1982, concluded with Galella's agreeing never again to photograph Jackie, Caroline or John Jr. In adulthood John allowed Galella to photograph him at public functions...

Author: /time Magazine | Title: Photography: Freeze-Frames | 7/1/2002 | See Source »

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