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Dates: during 1980-1989
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Joliet Army Ammunition Plant. The Government hopes to sell 1,300 acres of this 23,000-acre compound 50 miles southwest of Chicago. Last year the expendable acreage was leased to local farmers for $750,000; they used it to grow corn, hay, soybeans and other crops, and to graze livestock. Farmers like John Nugent of Manhattan, Ill., who now rents some of the land for $95 per acre, are interested in buying "if the price is right." Harold Holz, who manages the land for the Uniroyal Corp. under a federal contract, says that the grazing land is worth around...

Author: /time Magazine | Title: Land Sale of The Century | 8/23/1982 | See Source »

...headquarters of Britain's electronic intelligence empire is a sprawling compound at Cheltenham, 95 miles northwest of London and nestled among the scenic hills of Gloucestershire. Known in the trade as GCHQ (for Government Communications Headquarters), the facility receives and analyzes data from a worldwide system of spy bases, ships, planes and satellites. It operates round the clock and employs some 10,000 staffers round the globe. Cheltenham is a vital part of the West's constant effort to break the Soviet Union's military and diplomatic codes. Now there is a distinct possibility that GCHQ...

Author: /time Magazine | Title: Bad Days at Cheltenham | 8/2/1982 | See Source »

...back an earlier GNP estimate for the first quarter, reporting that the economy actually sank 5.1% on an annual basis during the January-to-March period instead of the initially estimated 3.7%. Moreover, the Bureau of Labor Statistics last week announced that consumer prices rose during June at a compound annual rate of 13.3% for the second month...

Author: /time Magazine | Title: Banking's Crumbling Image | 8/2/1982 | See Source »

...create a creamy-rich milkshake or a buttery spread that is not the least bit fattening. It is a zero-calorie dead ringer for dietary fat called sucrose polyester (SPE), and last week researchers at the University of Cincinnati Medical Center reported SPE's first successful test. The compound contains eight fatty acids instead of the three that make up ordinary fats. As a result, digestive enzymes cannot break it down, and it passes unaltered out of the body. In the Cincinnati study, ten chronically obese patients were fed a diet much like their usual one for 20 days...

Author: /time Magazine | Title: Medicine: Capsules: Jul. 26, 1982 | 7/26/1982 | See Source »

Even more ostentatious is Mohammad's residential compound, now under construction on a chunk of Miami property he bought for $4 million. A contractor on the unfinished Xanadu is suing the sheik for $275,000, and one of the sheik's builders says it will be "the most expensive piece of crap ever put on this earth." It is to include a bowling alley, an aviary, computer-controlled fountains, five waterfalls, two swimming pools, moving sidewalks, a bomb shelter and a mosque...

Author: /time Magazine | Title: The Sheiks Who Shake Up Florida | 7/19/1982 | See Source »

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