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Dates: during 2000-2009
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Angry and vengeful, Pennzoil's Liedtke sued Texaco, and last week the oil giant paid a painful price for its successful maneuver. A Houston jury decided that Texaco had sabotaged Pennzoil's contract with Getty, and fined Texaco an awesome $10.5 billion. It was the largest sum ever awarded in a corporate court fight, dwarfing the $1.8 billion won by MCI in a 1980 suit against...

Author: /time Magazine | Title: Texas-Size: Pennzoil wins $10.5 billion | 6/21/2005 | See Source »

...lawyer and the first president of the National Basketball Association (1949-63) who despite his sketchy knowledge of the game helped to lay the foundation for the professional sport, notably by shifting it out of high school gymnasiums into spacious arenas and by negotiating the league's first TV contract ($3,000, in 1954); in New Haven, Conn...

Author: /time Magazine | Title: Milestones: Dec. 9, 1985 | 6/21/2005 | See Source »

...saying touching things like "Don't read everything you believe in the newspapers." Then abruptly last week, backed up against a blue-gray November sky, Notre Dame's beleaguered coach finally answered the hate mail of every irate fan in Christendom. Four days before the final game on his contract, Faust gave his notice. "Sometimes you don't know why these things happen," he said of 26 losses in 57 games, the direst total in 97 years of Irish history, outstripping even the terrible touchdown famine of Joe Kuharich. "You leave it to the Almighty. I think there...

Author: /time Magazine | Title: Sport: Shaking Free of the Thunder | 6/21/2005 | See Source »

...place and I love the people." And, as long as he is definitely leaving, they are of a mind now to love him too. Immediately, a 25th Notre Dame football coach, Lou Holtz, was anointed, the hiring telegraphed by a suggestive escape clause in his University of Minnesota contract and the presence of a son on the Irish campus. Formerly of William and Mary, North Carolina State, the University of Arkansas and even the New York Jets, Holtz, 48, seems a little peripatetic for Notre Dame, but he certainly has the right humor for the job. "Everyone in Minnesota...

Author: /time Magazine | Title: Sport: Shaking Free of the Thunder | 6/21/2005 | See Source »

Deng's reforms abolished the communes and replaced them with a contract system. Though the state continues to own all land, it leases plots, mostly to individual families. Rent is paid by delivery of a set quantity of rice, wheat or whatever to the state at a fixed price. But once that obligation is met, families can grow anything else they wish and sell it in free markets for whatever price they can get (though the state does set limits on how much some prices can fluctuate...

Author: /time Magazine | Title: China: Old Wounds Deng Xiaoping | 6/21/2005 | See Source »

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