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During his heyday, Carter employed out-of-work actors to call up corporate shareholders to try to sway their votes. "Actors know how to talk and when to listen," he claimed. In 1987 he sold his firm to a British ad agency for $76 million. Carter resigned from the organization in January, a year after learning about the investigation of his dealings. Now he faces up to four years in jail, and his former company has posted steep losses as clients defect to other firms...

Author: /time Magazine | Title: FRAUD: Sad Plea for A Proxy Prince | 4/2/1990 | See Source »

...million. His Sunday-night radio broadcast reached 21 million. Parsons and her rival, Hedda Hopper, between them appeared in practically every consequential newspaper in the nation. On the other hand, while there are many more competitors on the celebrity beat than in Winchell's or Hopper's heyday, they tend to be editorial copycats. Thus an item from Liz Smith or PEOPLE magazine or Entertainment Tonight gets picked up and trumpeted by dozens or even hundreds of publications and broadcasts...

Author: /time Magazine | Title: Gossip: Pssst...Did You Hear About? | 3/5/1990 | See Source »

During the heyday of takeover lending and junk-bond financing, the patrician investment firm Morgan Stanley was often the butt of ridicule. While more aggressive firms plunged into risky new techniques, Morgan, despite a leading role in corporate takeovers, seemed stuck in its stodgy habit of underwriting stock for blue-chip companies and selling investment-grade bonds. The new breed was playing high-stakes Monopoly, the joke went, while the stuffed shirts at Morgan were playing Trivial Pursuit. But no one is laughing at Morgan's expense anymore. The firm, founded in 1935, is the most profitable on Wall Street...

Author: /time Magazine | Title: We Don't Have To Have All of Our Cake Today | 2/26/1990 | See Source »

...heyday, Atlantic City was a teeming pot of summer life--a town woven with saltwater taffy, wide, white sand beaches, seaside pie-eating contests and lollipop-striped bathing suits...

Author: By Philip M. Rubin, | Title: What Casinos Did to a Seaside Playground | 2/17/1990 | See Source »

...Director- choreographer Tommy Tune provides a pretentious last-minutes ballet between characters introduced as love and death. Despite these shortcomings, Grand Hotel is the musical winner of the season, bringing to mind, if not quite matching, the kinetic narratives of Harold Prince, Bob Fosse and Michael Bennett in their heyday. Tune takes a set more cluttered than Threepenny's -- fluted columns, a revolving door, dozens of chairs -- and weaves around it a ceaseless flow. If some of the wizardry is borrowed from bygone auteur directors, that is in keeping with the real meaning of Brecht's dictum: know enough...

Author: /time Magazine | Title: Theater: Warmed Over and Not So Hot | 11/27/1989 | See Source »

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