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...economic downturn. Already the 21 top American banks hold an estimated $17 billion in LBO loans, or just under one-fourth of their exposure to Third World loans. First Chicago's LBO portfolio amounts to 55% of shareholder equity. Says a former executive at a major bank: "If the crunch comes, it will be from LBO debt, not Third World debt...

Author: /time Magazine | Title: Cracks in The System | 8/29/1988 | See Source »

...most of a sleek new office park in Elmsford, N.Y., just half an hour's drive north of New York City, a visitor imagines that harried M.B.A.s sit at their terminals poring over electronic spreadsheets. But at 525 Executive Boulevard, a more exciting menu is on call. Instead of crunching numbers, a group of men and women crunch on praline, and instead of computer screens, they stare into oven windows. A thin figure in a tall toque waves a blade. "All the time be rocking the knife," he says with a Germanic accent to an intent group of onlookers. "Never...

Author: /time Magazine | Title: In New York: A Degree in Desserts | 8/1/1988 | See Source »

...state economies are so robust, of course. Unemployment in West Virginia stands at 9.7%, largely because of a loss of jobs in the coal industry and manufacturing. In Kentucky the rate is 8.6%. Yet almost everywhere, summer travel has brought a labor crunch in the resort and recreation industries. Dishwashers, floor sweepers and busboys have become as rare as teenagers in summer school. Says Cheryl Winters, manager of the Gwinnett County office of the Georgia department of labor: "There are essentially no domestic workers. They have gone with the wind." The situation . is not expected to improve over last year...

Author: /time Magazine | Title: All Hands on Deck! | 7/18/1988 | See Source »

...only 17.7% of the nation's 659,000 private attorneys perform this task. At Public Counsel, a Los Angeles group that receives about 1,000 calls a day for legal assistance, participation by outside law firms has dropped more than 30% since 1986. "It's the biggest pro bono crunch we've ever seen," says Executive Director Steven Nissen. The trend toward giant law firms that operate like corporations gets much of the blame. Goaded by a bottom-line mentality, devoting nearly every moment to revenue-earning work, firms that once routinely set pro bono goals for their members...

Author: /time Magazine | Title: Law: The Sad Fate of Legal Aid | 6/20/1988 | See Source »

Most often the problem is poor ventilation. Sometimes the difficulty stems from design flaws. In some buildings, for example, air-intake ducts are built directly over loading docks; exhaust fumes from idling trucks are drawn in and circulated through work areas. During the energy crunch of the 1970s, conservation measures such as installing sealed windows, closing air-intake ducts and overinsulating roofs only made matters worse. As a result, most -- and at times all -- of the air in many office buildings is recirculated. "Without adequate dilution by fresh air, pollution levels build up," explains Robert Phalen, an environmental specialist...

Author: /time Magazine | Title: Health & Fitness: Got That Stuffy, Run-Down Feeling? | 6/6/1988 | See Source »

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