Word: crash
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Dates: during 1980-1989
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This week's subject is Sir James Goldsmith, the international financier, art collector and company collector who presciently sold most of his stock holdings shortly before last month's market crash. Senior Correspondent Frederick Ungeheuer interviewed Goldsmith at length for the three-page story. The two discovered something they had in common: Frankfurt, Ungeheuer's hometown and the seat of Goldsmith's forebears, a distinguished German banking family. Ungeheuer spent a week traveling with Sir James, watching him conduct business in Paris, New York City and Washington. The two also huddled at Goldsmith's homes in Paris and New York...
Besides confirming Van Gogh's status, last week's sale reassured collectors that the loss of wealth generated by October's stock crash would not immediately depress the art market. Says Jay Goldinger, editor of the Early Warning Wire financial newsletter: "There are a lot of people out there who are disgusted with the stock market, and some will look more...
...panic that set off the Black Monday stock-market plunge has faded, but for many investors the pain remains. To help those victimized by the crash, the North American Securities Administrators Association, an organization of state regulators, has set up a toll-free hotline number (1-800-942-9022). On the line are volunteer securities examiners, who tell callers how to contact the appropriate state regulator if they seem to have been duped by an unethical broker...
...Iran-contra mess, the stock-market crash and the inability to pick a Supreme Court nominee capable of being confirmed by the Senate have threatened to add Ronald Reagan to the list of 20th century presidential failures. Reagan's earlier successes restored national confidence in the presidency. A reversal now would reduce the standing of America's institutions, at home and abroad, at a time when the country can least afford it. Is it too late for Reagan to salvage his place in history? Not necessarily...
Moneymen around the world were yearning to look on the bright side, and it was high time. After weeks of gloom and stress since the Black Monday crash of Oct. 19, the financial markets needed only to see a few rays of hope to justify a rally. But everyone was looking for encouraging signals from the one place in particular, the U.S., that lately has been unable to deliver. . Investors and foreign leaders watched with increasing impatience last week as they waited for America to come across with some evidence of progress in solving its economic problems...