Word: givens
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Dates: during 1980-1989
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Researchers reported the conclusive proof of deprenyl's effect on Parkinson's in last week's New England Journal of Medicine. In a study at 28 U.S. and Canadian medical centers involving 800 patients, investigators found that those given deprenyl took significantly more time to reach the point where they needed levodopa than did those not receiving the drug. Based on the results, the researchers project that patients on deprenyl can wait twice as long -- about a year -- before taking levodopa...
...they live in a rat-race world where the challenge is finding time to read. So we're inviting people to carve out some quality time and get into this magazine." By January "Make Time for TIME" will have found its way to magazines, television, radio, newspapers, billboards and, given Lois' penchant for invention, perhaps some as-yet-undreamed-of place as well...
...weeks, ever since it was disclosed that Sotheby's had lent Australian entrepreneur Alan Bond $27 million in 1987 to buy what became the most expensive painting of all time, Van Gogh's Irises. But Sotheby's defends its policy as right, proper and indeed inevitable. Guarantees are given "very sparingly," CEO Ainslie said last week. "It is unusual for more than one or two paintings in a sale to be guaranteed." Ainslie rejects any comparison to margin trading. "We do not make it a standard policy to loan 50% against anything. We are not just lending against the object...
...affairs code says that "if an auctioneer makes loans or advances money to consignors and/or prospective purchasers, this fact must be conspicuously disclosed in the auctioneer's catalog." But did this mean that Sotheby's put a note in the catalog of its November 1987 sale saying it had given one Alan Bond a loan of half the hammer price, repayment terms to be negotiated, on Irises? Think again...
Sotheby's has never said anything specific about its loans in its catalogs, or given any information on its guarantees except that they exist. To Sotheby's, a mere announcement in the catalog that it offers such financial services is enough to comply with the law. But its use to the buyer is nil -- and is meant to be. Disclosure might be chilling to other bidders. Or at least vulgarly explicit. Which auctioneers would rather die than be. One is not, after all, selling rusty tin Mickey Mice and kitchen chairs in a rented hall in Vermont...