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...eight, Kluge bought a controlling interest in a small broadcasting company in 1959 and built it into a $500 million-a-year telecommunications firm. Kluge took Metromedia private last year, but the maneuver left it $1.3 billion in debt. Realizing that he could not handle all that red ink, Kluge decided last January to sell at least some of the TV stations...
...projected a serene, society-page sexiness. Stephanie has a contem- porary appeal: athletic, funky, challenging. She has been a mannequin only a few months, but she is on the cusp of signing a hefty contract with the Italian designer Enrico Coveri (exact figures to be publicized only when the ink is dry). She was due to appear in New York to pose for Vogue and LIFE before an eleventh- hour cancellation put a temporary cap on Stephanie's lens hopping...
...Venice--to comprehend the general paucity of graphic skills today. The prospect that anyone in the foreseeable future will make drawings to rival these Albertina loans--even the sketchier ones, like Rembrandt's summing-up of a Dutch bridge and canal in a few electric jottings of bister ink--seems remote...
...newspaper jargon, the money woes of United Press International are what is known as a running story. Stained by red ink for two decades, the nation's second-largest wire service (800 client newspapers and 3,300 broadcast stations, vs. 1,260 papers and 5,700 stations for the Associated Press) was sold to a group of investors in 1982 for $1. Despite wage and staff cutbacks, U.P.I. remained in delicate health; as payroll checks began bouncing in March, Owners Douglas Ruhe and William Geissler agreed to surrender most of their shares to the company's creditors and employees. Even...
...with so many of the President's sweeping pronouncements, his comparison of federal and state finances contained much appeal, some merit and considerable oversimplification. To be sure, the federal red ink is overflowing. The Congressional Budget Office predicted last week that even if the President gets all the spending cuts he wants, which seems highly unlikely, deficits will average about $185 billion a year for the next five years, rather than declining to $144 billion by 1988, as the Administration projects. Meanwhile, the states, all of which except Vermont are forbidden by their own laws or constitutions to operate with...