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What do an $800 Gucci briefcase, cosmetic surgery and a water slide have to do with spreading the Gospel? Nothing, the Internal Revenue Service ruled in effect last week as it revoked the tax-exempt status of PTL, the television ministry that supported the high living of Jim and Tammy Bakker. The IRS declared that PTL's business activities, including an amusement park, shopping malls and hotels as well as excessive payments to the Bakkers, served no ministerial purpose...

Author: /time Magazine | Title: Evangelism: Praise the Lord, Pay IRS | 5/2/1988 | See Source »

...growing number of shutouts, say admissions experts, is caused in part by ! ambitious parents who push their youngsters to carve too high on the academic hog. A name-brand college, says Steinbrecher, "has become a status symbol, like a Gucci shirt." Moreover, the crush of applicants from affluent white suburbs has created a generation of qualified look-alikes, all of whom simply cannot get in, especially when schools are seeking diverse student bodies. A third factor is what admissions people call the scalp takers: top students who sit on a fistful of acceptances, hogging places that might have been offered...

Author: /time Magazine | Title: Education: The Campus Scramble to Recruit | 5/2/1988 | See Source »

KEMP. He gave up the collar pin, but still sports a Gucci belt and tasseled loafers. Haig is runner-up with his sharply tailored suits...

Author: /time Magazine | Title: A Pre-Primary Report | 2/8/1988 | See Source »

...only factor in international buying decisions. Many U.S. goods simply do not satisfy foreigners' tastes or meet their quality standards; these products will not sell overseas even if they become cheaper. By the same token, American consumers partial to Toyota cars, Krups kitchen appliances, Rossignol skis and Gucci shoes will not easily be discouraged by price rises. In the case of the videocassette recorder, American consumers have no choice but to buy foreign, since U.S. manufacturers do not make the machines. Indeed, as long as the American appetite for imports remains, a perverse effect takes place: as the price...

Author: /time Magazine | Title: The Declining Dollar: Not a Simple Cure | 11/16/1987 | See Source »

...everyone on board felt the trip was a complete loss. Many passengers liked the new shops hawking the goods of Gucci, Dior and Dunhill. Others praised the polite crew, understaffed by a last-minute union squabble. But it was not like the old days when Cunard boasted that "getting there is half the fun." Last week jetting there might have been half the hassle...

Author: /time Magazine | Title: A Cruise That Had the Blues | 5/18/1987 | See Source »

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