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Since last summer, a flurry of crushing financial blows has turned an already brutal culling process into a full-scale rout. The airlines were loaded with debt after a decade of mergers, frantic expansion and multibillion-dollar orders for new aircraft. The approach of the gulf war brought a sharp run-up in oil prices, adding $2 billion, or 12.5%, to the industry's jet-fuel costs. Then, in a desperate bid to fill seats as the recession deepened and war jitters sidelined travelers, U.S. airlines slashed fares. By last April, 95% of all U.S. air passengers were traveling...

Author: /time Magazine | Title: Transportation: Get 'Em While They Last | 7/22/1991 | See Source »

...competition for UAL has grown frantic now that the carrier has narrowed its search to nine sites, scattered from Denver to Martinsburg, W. Va. Pitchmen in the farm town of Rantoul, Ill., have put together $300 million worth of free land and other incentives, hoping to substitute UAL for nearby Chanute Air Force Base, slated to close in 1993. In January a special session of the Oklahoma legislature approved a new 1% sales tax to pay for tax concessions, job-training subsidies and other lures. Boasts Ed Bee, Oklahoma City's economic development director: "We have a done deal." Well...

Author: /time Magazine | Title: Come On Down! Fast! | 5/27/1991 | See Source »

...Bush's condition was caused by Graves' disease, a noncontagious thyroid ailment that, coincidentally, also afflicts First Lady Barbara Bush. The condition is usually manageable with drugs and low doses of radiation. Bush returned to the White House early last week and resumed work, albeit at a slightly less frantic pace...

Author: /time Magazine | Title: Why Not The Best? | 5/20/1991 | See Source »

These cerebral anxieties are counterbalanced by the physical turmoils of Laura, Agnes' younger sister, who has plunged into a passionate love affair with Bernard, a radio journalist eight years her junior. But after months of mutual bliss, Bernard abruptly becomes detached and preoccupied. Laura, growing frantic, assumes that she is being supplanted by another woman. Bernard is ashamed to tell her the real reason for his dwindling ardor: the appearance at his radio station of a stranger who gives him a diploma-like document, handsomely executed and lettered, that reads, "Bernard Bertrand is hereby declared a Complete Ass." This...

Author: /time Magazine | Title: A Plunge into Fancies | 5/13/1991 | See Source »

...well as prosperous city dwellers and farmers who have tried to escape with their cars, trucks and tractors. A white Oldsmobile Cutlass Ciera joins the line, along with a brand-new Massey- Ferguson harvesting combine. Iranian soldiers drive up the road, throwing bread to the Kurds and starting a frantic scramble that sends more than one person rolling down a steep embankment. When the crowd parts, old men patiently pick the crumbs out of rocks and mud, their only margin of survival. Whenever the refugees discover a reporter in their midst, they crowd around and find someone to express their...

Author: /time Magazine | Title: Refugees: Omar's Journey | 4/29/1991 | See Source »

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