Word: chicago
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Dates: during 1980-1989
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...informal, small-scale banks organized primarily by immigrants to help one another. Though the loan clubs are not legally prohibited, they operate outside regular U.S. banking laws and safeguards. Even so, they have nurtured fledgling businesses from the barrio to Chinatown in cities as diverse as Houston, Los Angeles, Chicago and New York. With loans ranging from a few hundred dollars to $20,000 or more, Vietnamese hui (associations) in Texas played a crucial role in reviving the moribund shrimping industry in the Gulf of Mexico by financing the purchase of dozens of boats. An estimated $10 million in Korean...
...free. Even so, the organizer benefits from strong community ties. When a new Chinese immigrant asks to join a hui, for example, "it does not take much effort to establish his life history," says Tom Tai, director of the Chinese Business Association in Queens, N.Y. As a result, notes Chicago's Engstrom, the vast majority of loan clubs prove quite solid. Says he: "No one wants to risk their reputation in the community by refusal...
Would-be action stars need a sophisticated support system, and De Niro has lucked into a lulu. He plays Jack Walsh, an ex-Chicago cop who is now earning a perilous living in Los Angeles as a bounty hunter, returning bail jumpers to their bondsmen. It looks like an easy $100,000 when he is engaged to pick up Jonathan Mardukas (Charles Grodin) in New York City and return him to Los Angeles before his bail must be forfeited. In comparison with Walsh's usual large, violent and well-armed prey, Mardukas is soft of bulk, mild of manner...
...Thursday Jackson began a three-day Chicago-to-Atlanta buscapade recalling the Freedom Rides of the '60s. The trip was a vintage Jackson media event; there were six press buses, the largest media contingent he has had in the campaign. As the buses wound their way south, they picked up delegates and evening-news airtime. Jackson also got some of what he craved: by week's end Brountas had called him to apologize for not informing Dukakis about the early departure for the airport. Jackson spoke with Dukakis, and they talked several times over the next few days...
...yields will be down as much as 42% from last year's. The USDA estimates assume normal weather for the rest of the growing season, even though most long-range forecasts, including those of the National Weather Service issued last week, predict no break in the hot, dry weather. Chicago's commodities-futures traders tended to believe the worst. Prices for corn, wheat and soybean contracts surged after the USDA forecast was released...