Word: chicago
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Dates: during 1970-1979
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...Chicago Adman David Lewis knows the answer, and he is telling everyone who will listen: Rula Lenska is the 31-year-old daughter of a Polish émigré count and lives in London. She was featured as a rock singer in the British TV series Rock Follies and as a character in a never released film, Queen Kong. What fascinated Lewis, who had nothing to do with the hair spray commercials, was this obscure actress's hopeful pretense of being a famous star. As a lark, he founded the Rula Lenska Fan Club-and soon found that some...
...undergraduates when Keynesianism was flourishing in the late 1950s and the 1960s, the new economists are now professors in their own right at universities around the country. Among them: Martin Feldstein, 39, of Harvard, who is the leading thinker in the group; Robert Lucas, 41, of the University of Chicago; Michael Boskin, 33, of Stanford; Rudiger Dornbusch, 37, and Stanley Fischer, 35, both of M.I.T.; as well as many, many others...
ROBERT LUCAS, 41. The "rational expectations" economists hold that short-term policy jiggering cannot outsmart human ingenuity, or, you can't fool all the people even some of the time. One principal in this school is Lucas of the University of Chicago. Says he: "The real amount of goods and services available cannot be manipulated effectively by short-term market interferences. Such policies are based on the premise that we, the Government, can make people work harder, invest more or perform some other desired objective. But people are skeptical, so such policies do not work any more. The public...
When a DC-10 falls out of a clear blue sky and kills 275 people, as American Flight 191 did in Chicago last May, there is no doubt that the victims' families will be financially compensated for their loss. The multimillion-dollar question is how much. By last week, American Airlines and McDonnell Douglas, the manufacturers of the DC-10, had offered $30 million to the families of 112 victims if they would settle instead of go to court, and more settlement offers are forthcoming. What the airline and the air plane builder are trying to avoid...
Kreindler defends his high fees (17½% of the award), pointing out that air crash suits are complex and time consuming. In the Chicago air crash case, he will have to show how much money his clients (so far, the relatives of 16 victims) need to be compensated for their loss, based on the projected earning power of the victim, age, dependence on and relationship to the claimant. He must also prove that American or McDonnell Douglas or both were at fault. To be sure, the airline and manufacturer have offered not to contest their liability and to settle...