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...suffered the previous week. From its peak of 2722 in August to its Friday close, the average has fallen 28.3%, burning up an estimated $870 billion in equity values. Volume for the week was inconceivably greater than ever before, totaling 2.3 billion shares on the Big Board; the four heaviest trading days in New York exchange history all occurred last week. The turnover strained the exchange's computer network to the limit, and the Big Board decided to knock off trading two hours early on Friday and this Monday and Tuesday to allow exhausted brokers time to catch...

Author: /time Magazine | Title: The Crash: Panic Grips The Globe | 11/2/1987 | See Source »

Although the gold medal of the Nobel Peace Prize bears the motto PRO PACE ET FRATERNITATE GENTIUM (For Peace and the Brotherhood of Nations), the selection of the recipient often triggers sniping from those who disagree with the choice. The fusillade is heaviest, however, when the committee chooses not to recognize an achieved peace but to promote ongoing negotiations. And as honored as the prize is, its clout does not always ensure success...

Author: /time Magazine | Title: Medal Fatigue | 10/26/1987 | See Source »

...first time Chad had invaded Libya since their border conflict began 14 years ago. Officials in N'Djamena, Chad's capital, claimed that the attack killed 1,713 Libyans and destroyed 26 planes and at least 70 tanks. Libya disputed the figures, but the casualties appeared to be the heaviest of the war. The raid, declared Chad, "must be written in gold letters in the great book of victories...

Author: /time Magazine | Title: Disputes Raiders of the Armed Toyotas | 9/21/1987 | See Source »

...Eastern Europe, which suffered some of the heaviest fallout, the public paid close attention to the trial. Newspapers and television programs carried reports of the proceedings. The accident has even stirred up several nascent environmental movements. In Poland, for instance, an outlawed group called Freedom and Peace opposes construction of a nuclear power plant, the country's first, near Gdansk. Movement leaders have seen the future 400 miles across the Soviet border in Chernobyl, and they are convinced it will not work. The trial at Dom Kulturi is unlikely to reassure them...

Author: /time Magazine | Title: Disasters Judgment at Chernobyl | 7/20/1987 | See Source »

...airlines to continue engaging in price discounting, which has been the chief benefit that deregulation has brought for consumers. After years of relentless cuts, the average fare this year is expected to rise about 10%. Example: one-way New York-to-Los Angeles fares, which hit $99 during the heaviest discounting, are now typically $159. But bargain fares will never go away completely, experts say, because airlines are dependent on discretionary pleasure travel for 55% of their revenue, compared with only 45% when deregulation began...

Author: /time Magazine | Title: High Anxiety and Rage | 7/20/1987 | See Source »

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