Word: formerly
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Dates: during 1980-1989
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Since the Tiananmen crackdown in June, many China watchers had been convinced that Deng would retain his last post for a while longer to preserve his legacy of economic growth as well as to ensure the succession of his newly anointed heir, Jiang Zemin, a former Shanghai mayor who was named General Secretary in the chaos following the massacre. So far, however, Jiang has had little opportunity to prove his mettle. In fact, even though the Central Committee named Jiang to succeed Deng, it also expanded the powers of hard- line President Yang Shangkun, 82, a Jiang rival. Unlike Jiang...
Little more than a week before the latest title shuffle, Deng and other officials met with one of modern China's closest American friends, Richard Nixon. During the visit, the former President told his hosts that "many in the U.S. believe the crackdown was excessive and unjustified . . . and damaged the respect and confidence which most Americans previously had for the leaders of China." Nonetheless, Nixon feels strongly that the U.S. must rebuild its relations with China. Last week TIME obtained a copy of a report Nixon sent to a bipartisan group of congressional leaders. Some excerpts...
Imagine how much worse it must be to get a really big government mad at you -- like the U.S. Government, in the person of former U.S. Attorney Rudolph Giuliani. That's what money manager James Sutton ("Jay") Regan, 47, seems to have done. His firm, Princeton/Newport Partners, was charged with making a series of bogus trades in 1984 and '85 to claim tax losses. The trades were shams, argued the Government, because though Princeton/Newport really did sell securities in which it really did have losses, the firm didn't really sell them because it had an unwritten deal...
Regan would argue that he didn't violate the tax law. (A former IRS commissioner was prepared to testify to much the same thing, but the jury was not allowed to hear this because the judge accepted the Government's argument that his views might blur the issue.) Regan's trades were part of a hedging strategy under which you buy and sell related securities at the same time. You lose on one and gain on the other, but if you've done the math right, you'll usually lose a little less than you gain. Yippee...
...history at Columbia University. But starting this week, she will be spending her evenings curled up on a sofa in a Manhattan TV studio, making wisecracks about the single life in New York City. Typical bit: Rachel charts the differences between a guy she dated named David Sims and former President Franklin D. Roosevelt. "Has fancy cigarette holder. F.D.R.: yes. Sims: no. Tried to pack the Supreme Court. F.D.R.: yes. Sims: no. Talks nonstop about himself. F.D.R.: no. Sims...