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...days later, in talks with another visitor, Italian Prime Minister Benedetto Craxi, Gorbachev delivered an even blunter message. U.S. refusal to halt the Star Wars program, he warned, could lead to not only "the subversion of the Geneva talks but the scrapping of every prospect for an end to the arms race...

Author: /time Magazine | Title: East-West Carrot and Stick | 6/10/1985 | See Source »

...partners had piled up more than $800 million in profits during the past three years in raids on several companies, notably Phillips Petroleum and Gulf. But last week the most feared shark in the corporate sea lost a few teeth. In his first clear defeat, Pickens grudgingly agreed to halt his three-month pursuit of California's Unocal, the twelfth largest U.S. oil company. While Pickens maintains he will at least break even on the deal, analysts expect that the Mesa Petroleum chairman and his partners will actually lose as much as $100 million. More important, the episode has broken...

Author: /time Magazine | Title: A Shark Loses Some of His Teeth | 6/3/1985 | See Source »

...hence, a potential American shift from a strategy of deterrence to one of defense is frightening. Another fear is that the U.S. will spurn any Soviet offer to scrap significant numbers of missiles in the talks now under way in Geneva if the Soviets continue to insist that a halt to Star Wars research be included in any arms-control package. Such an impasse, warns one British official, could trigger "NATO's worst postwar crisis...

Author: /time Magazine | Title: Wagons Hitched to Star Wars: NATO allies consider participating | 5/27/1985 | See Source »

...infusion of funds could possibly check it. In the ensuing years, he and Defense Secretary Caspar Weinberger saw to it that a fundamental component of the Reagan Revolution was a military buildup unrivaled in peacetime history. Suddenly, because of exigencies on the home front, that is coming to a halt. Reagan's surprising acquiescence raises a critical question: Will the budget freeze unleash all the dangers that he has warned against...

Author: /time Magazine | Title: End of the Big Buildup | 5/20/1985 | See Source »

...still in front of him, Reagan had doubtless hoped that an interlude of high-visibility statecraft in Europe would provide a boost to his domestic standing. The Bitburg fiasco did precisely the opposite, causing unwelcome distractions and unnecessary embarrassments. The episode could hardly bring the Reaganaut march to a halt, but it will make the going harder...

Author: /time Magazine | Title: Paying Homage to History | 5/13/1985 | See Source »

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