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...like the global, multibillion-dollar version of trying to get into a prestigious university or a coveted sorority or on a segment of Who'll Marry a Planetary Billionaire? And once you're admitted, you risk everything you have (Montreal finished paying for hosting the 1976 Summer Games only in 2006) in the hope of securing a windfall that will put you on the economic and geopolitical map forever. You bring in TV crews from almost 200 countries, 100,000 security guards, doping-control officers and almost three times as many volunteers as there are citizens of Monaco ... all this...
...Dhabi's funds, and those in such places as Kuwait, Saudi Arabia and Qatar, are part of an epochal shift in the economic balance of power toward the energy-rich Gulf. It helps that the downturn in the U.S. economy and the anemic dollar are offering up relative bargains. Shares in GE - the great symbol of American management prowess - have fallen by more than a quarter in the last year...
...corruption and complicity in drug smuggling. The recent decline in the price of oil, the country's major export, stripped in a single month the already debilitated economy of one-third of its projected foreign exchange. And earlier this month the peso, which was worth 26 to the dollar in 1982, fell in only a week from around 530 to 750. By now, this fury of calamities has pushed Mexico to the brink of defaulting on its foreign debt of $98.6 billion. As De la Madrid recently warned, ''Dead men don't pay debts.'' Last week the country scrambled...
...jumped 80% since last month. Says Merle Richman, a Pan Am spokesman: ''There is a feeling that we are breaching a psychological barrier.'' If so, winning the breach has cost plenty. In order to woo back nervous travelers concerned about Arab terrorism, Soviet radioactive fallout and the declining U.S. dollar, airlines were engaging in extraordinary gimmicks and severely cutting their prices and profit margins. In the forefront of the European scramble to recover American business is British Airways. BA has waged a $6 million promotion campaign called ''Go for it, America'' to win back U.S. travelers. That effort reached...
...Sunday, Harrington had what Norman, with his prestigious talent, giant ego and multimillion-dollar business empire, never managed: perspective. Following a good shot or bad, his smile seemed to acknowledge the reality, so elusive to all athletes, that win or lose he was still being paid a lot of money to play a game. In his joyous acceptance speech on Sunday, Harrington recounted a telling anecdote from his second round. After a double bogey that could have taken him out of the running, he was walking to the next tee box when a fan reached over the ropes, patted...