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...paneled corridors of Manhattan's brokerage firms and investment houses, the scandal was reverberating in an atmosphere that one eminent Wall Street lawyer described as "hysteria." At blue-chip law firms, telephones rang incessantly as worried players of the multibillion-dollar business- takeover game sought advice and protection. Said a nervous Manhattan brokerage executive: "Everyone is scared to read the newspaper in case his name might be in it." Similar jitters struck in Los Angeles, where guards carefully screened visitors to the offices of one of the country's hottest investment firms, now the focus of curiosity and controversy...

Author: /time Magazine | Title: Going After the Crooks | 12/1/1986 | See Source »

...shared by Edith Langley, hero of Golden Days, who has awakened from the coma of two bad marriages with the understanding that a girl has got to hustle. This is how she did it: "I made myself up half hour by hour. I rented myself out to silicone chip places. I got myself a weekly financial column at the city's 'second' paper, which got me to parties, which got me to cute guys, which got me to some financial meetings of small businesses, and little by little I was able to build up a fairly decent ! portfolio." The diversified...

Author: /time Magazine | Title: Books: Apocalypse Soon Golden Days | 11/24/1986 | See Source »

...which include Sears, IBM and Pillsbury. The damages at Saatchi & Saatchi/Ted Bates have totaled more than $300 million; among the clients who canceled accounts were Colgate-Palmolive, Procter & Gamble and Warner-Lambert. While both agencies claim that they can absorb those losses without severe stress, the exodus of blue-chip clients has quickly soured Madison Avenue's merger mood...

Author: /time Magazine | Title: The Not-So-Jolly Advertising Giants | 11/17/1986 | See Source »

Israeli authorities quickly warned Amal against turning the pilot over to Syrian forces in Lebanon. Amal Leader Nabih Berri, who had helped arrange the release of the 39 TWA hostages in June 1985, was expected to use the captured pilot as a bargaining chip in his efforts to free some 250 Lebanese and Palestinian guerrillas believed held in a jail near the border by the Israeli- backed South Lebanon Army. In Tel Aviv, the Israeli army's chief spokesman, Brigadier General Ephraim Lapid, delcared, "We will not rest until we have recovered the missing man." The events in Lebanon almost...

Author: /time Magazine | Title: Israel Threat to an Uneasy Peace | 10/27/1986 | See Source »

...Coast schools, chatted at the same Georgetown dinner parties and cozily made American foreign policy for decades. Devoted to serving their country, pragmatists rather than ideologues, internationalists with an instinct for the center, they raised nonpartisanship in diplomacy to an art form. Their names: Averell Harriman, Dean Acheson, Charles ("Chip") Bohlen, George Kennan, Robert Lovett and John McCloy...

Author: /time Magazine | Title: Books: The Hexagon the Wise Men | 10/27/1986 | See Source »

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