Word: huges
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Dates: during 1980-1989
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...some, that was not enough to justify a nearly 40% salary increase. "We come forward with ethics reform, and we instead sneak in a pay raise," said Democratic Congressman James Traficant of Ohio. "With the huge budget deficit we face, now is not the time." Nader spokesman Bob Dreyfuss pointed out that while Congress was looking after its own interests, it had delayed action on a federal child-care plan and failed to pass a budget -- leaving servicemen, Medicare recipients, farmers and other federal beneficiaries vulnerable to the automatic Gramm-Rudman-Hollings cutbacks. "If the issue were based on merit...
...subpoena suggests that Israel or West Germany relayed serious warnings of a bombing to the U.S. -- and that the warnings were not passed on to Pan Am. The Flight 103 families say Pan Am may merely be trying to shift the blame so it can wriggle out of paying huge claims...
This may be why so much of the auction action has shifted to contemporary art. It is a field that can still produce huge unsettling leaps of price that shake a market to its core, as publisher S.I. Newhouse's gesture of paying $17.7 million for Jasper Johns' False Start in New York a year ago proved. (It made sense, of a kind, for Newhouse to buy the Johns: he owns quite a few others, whose book value has accordingly multiplied...
...keys to the transformation of the contemporary market is going to be the discreet dispersal of the huge collection formed, mostly after 1980, by the advertising mogul Charles Saatchi, whose London firm is now in difficulties. Saatchi bought in bulk, sometimes whole exhibitions at a time. He acquired, for instance, more than 20 Anselm Kiefers, whose prices are now past the $1 million mark, and at least 15 Eric Fischls, which are on or around it. Artists let him have the cream of their work because it was understood -- though never explicitly said -- that Saatchi would never sell; his collection...
...Kooning and bought, among other things, a Johns for $12.1 million. "I thought Saatchi had good intentions," Scully says. "Now it turns out that he's only a superdealer. These guys create price levels for themselves. They put one painting in a sale and bid it up to huge levels. And the artist loses control of his work, while his relations with the dealer he has worked with so long go for nothing, absolutely nothing. We are just pawns...