Word: cit
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Dates: during 1980-1989
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...loan-loss reserves, a move that will give them stiff deficits now but help insulate them from defaults in the future. Manufacturers Hanover added $950 million to its reserves, Chase Manhattan $1.15 billion, and J.P. Morgan $2 billion. To shore up its finances, Manny Hanny also agreed to sell CIT Group, its corporate- finance subsidiary, to Japan's Dai-Ichi Kangyo Bank for $1.3 billion...
...recreation. People order their eau by brand name, as they once did Scotch. The fastidious will not take it on the rocks, because ice bruises the bubbles. Only aspiring starlets drink Perrier ("designer water," sniff detractors). Evian is Hollywood's chic refresher, and the hottest innovation of all is Cit-Jet, a pressurized can of lemon juice from France that will flavor the waters of summer '85. Says Novelist-Screenwriter Josh Greenfeld (Harry and Tonto): "Pretty soon we'll be ordering water by the year...
Drug abuse, prostitution and assorted other crimes-minor and major-flourish in many immigrant ghettos. Young Turks and Surinamese are deeply involved in the narcotics trade around Amsterdam; addiction is common among young North Africans in Paris. Says Nordine Iznasni, 21, a resident of the notorious Cité Gutenberg, a collection of ramshackle, barrack-like buildings in the Paris suburb of Nanterre: "When you've got nothing to do and nothing to look forward to, it's a way to hide from reality, just as French kids do. Young North Africans are sick of rejection, unemployment and disrespect...
...projects as the launches of the first U.S. manned spaceflight and Apollo 11 's moon mission; of a heart attack; in Cocoa, Fla. Debus worked closely with Wernher von Braun, the father of modern rocketry, to design the Nazis' V-2 rocket booster, then became a passionately loyal American cit izen after the German surrender. In the 1950s he worked on the Army's first missile capable of carrying and delivering a nuclear warhead, the Redstone...
Cashing in on the new ascendancy of Italian wines in the U.S., a number of tour operators are offering a variety of wine tours, with immense success. One extravaganza, a twelve-day Bacchanalian Trip organized by Compagnia Italiana Turismo (CIT), meets guests at the Rome airport and deposits them, twelve vinous days later, at the Turin airport. The $698 immersion includes hotels, unlimited wine bibbing, visits to vineyards and cellars in the major winegrowing areas, and espresso and sympathy the mornings after...